Emerson Electric (EMR) 10-Q 8 Feb 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	3 Months Ended
	Dec. 31, 2016	Jan. 31, 2017
Entity Information [Line Items]
Entity Registrant Name	EMERSON ELECTRIC CO
Entity Central Index Key	32,604
Current Fiscal Year End Date	--09-30
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		645,064,675

Consolidated Statements Of Earn

Consolidated Statements Of Earnings - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Net sales	$ 3,216	$ 3,337
Costs and expenses:
Cost of sales	1,851	1,923
Selling, general and administrative expenses	822	879
Other deductions, net	33	54
Interest expense (net of interest income of $6 and $6, respectively)	46	47
Earnings from continuing operations before income taxes	464	434
Income taxes	94	127
Earnings from continuing operations	370	307
Discontinued operations, net of tax	(55)	46
Earnings from continuing operations	315	353
Less: Noncontrolling interests in earnings of subsidiaries	6	4
Net earnings common stockholders	309	349
Earnings from continuing operations common stockholders	364	303
Earnings from discontinued operations common stockholders	$ (55)	$ 46
Basic earnings from continuing operations per common share	$ 0.56	$ 0.47
Basic earnings from discontinued operations per common share	(0.08)	0.07
Basic earnings per common share	0.48	0.54
Diluted earnings from continuing operations per common share	0.56	0.46
Diluted earnings from discontinued operations per common share	(0.08)	0.07
Diluted earnings per common share	0.48	0.53
Cash dividends per common share	$ 0.48	$ 0.475

Consolidated Statements Of Ear3

Consolidated Statements Of Earnings (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Income Statement [Abstract]
Interest income	$ 6	$ 6

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Net earnings	$ 315	$ 353
Other comprehensive income (loss), net of tax:
Foreign currency translation	(103)	(153)
Pension and postretirement	55	26
Cash flow hedges	15	6
Total other comprehensive income (loss)	(33)	(121)
Comprehensive income	282	232
Less: Noncontrolling interests in comprehensive income of subsidiaries	4	4
Comprehensive income common stockholders	$ 278	$ 228

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2016	Sep. 30, 2016
Current assets
Cash and equivalents	$ 4,151	$ 3,182
Receivables, less allowances of $94 and $92, respectively	2,426	2,701
Inventories	1,278	1,208
Other current assets	552	669
Current assets held-for-sale	470	2,200
Total current assets	8,877	9,960
Property, plant and equipment, net	2,861	2,931
Other assets
Goodwill	3,861	3,909
Other intangible assets	879	902
Other	179	200
Noncurrent assets held-for-sale	814	3,830
Total other assets	5,733	8,841
Total assets	17,471	21,732
Current liabilities
Short-term borrowings and current maturities of long-term debt	254	2,584
Accounts payable	1,335	1,517
Accrued expenses	1,872	2,126
Income taxes	396	180
Current liabilities held-for-sale	289	1,601
Total current liabilities	4,146	8,008
Long-term debt	3,815	4,051
Other liabilities	1,667	1,729
Noncurrent liabilities held-for-sale	89	326
Equity
Common stock, $0.50 par value; authorized, 1,200,000,000 shares; issued, 953,354,012 shares; outstanding, 644,694,794 shares and 642,796,490 shares, respectively	477	477
Additional paid-in-capital	306	205
Retained earnings	21,714	21,716
Accumulated other comprehensive income (loss)	(2,030)	(1,999)
Cost of common stock in treasury, 308,659,218 shares and 310,557,522 shares, respectively	(12,754)	(12,831)
Common stockholders’ equity	7,713	7,568
Noncontrolling interests in subsidiaries	41	50
Total equity	7,754	7,618
Total liabilities and equity	$ 17,471	$ 21,732

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2016	Sep. 30, 2016
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 94	$ 92
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	644,694,794	642,796,490
Treasury stock, shares	308,659,218	310,557,522

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Operating activities
Net earnings	$ 315	$ 353
(Earnings) Loss from discontinued operations, net of tax	55	(46)
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	143	144
Changes in operating working capital	138	155
Other, net	35	90
Cash from continuing operations	410	386
Cash from discontinued operations	(172)	101
Cash provided by operating activities	238	487
Investing activities
Capital expenditures	(100)	(124)
Purchases of businesses, net of cash and equivalents acquired	(16)	(6)
Other, net	(20)	(13)
Cash from continuing operations	(136)	(143)
Cash from discontinued operations	3,894	(20)
Cash provided by (used in) investing activities	3,758	(163)
Financing activities
Net increase in short-term borrowings	(2,225)	34
Proceeds from short-term borrowings greater than three months	0	827
Payments of short-term borrowings greater than three months	(90)	0
Payments of long-term debt	(251)	(251)
Dividends paid	(311)	(310)
Purchases of common stock	0	(507)
Other, net	(43)	(4)
Net cash used by financing activities	(2,920)	(211)
Effect of exchange rate changes on cash and equivalents	(107)	(58)
Increase (decrease) in cash and equivalents	969	55
Beginning cash and equivalents	3,182	3,054
Ending cash and equivalents	4,151	3,109
Changes in operating working capital
Receivables	212	358
Inventories	(103)	(68)
Other current assets	10	18
Accounts payable	(119)	(200)
Accrued expenses	(162)	(236)
Income taxes	24	(27)
Changes in operating working capital	$ 138	$ 155

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Dec. 31, 2016
Disclosure Text Block [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, 2016 . Certain prior year amounts have been reclassified to conform to current year presentation. In connection with the strategic portfolio repositioning actions undertaken over the last eighteen months to transform the Company into a more focused enterprise, its businesses and organization were realigned. Beginning in fiscal 2017, the Company now reports three segments: Automation Solutions , and Climate Technologies and Tools & Home Products which together comprise the Commercial & Residential Solutions business. The Automation Solutions segment includes the former Process Management segment and the remaining businesses in the former Industrial Automation segment, except for the hermetic motors business, which is now included in the Climate Technologies segment. The new Tools & Home Products segment consists of the businesses previously reported in the Commercial & Residential Solutions segment in fiscal 2016. See Notes 10 and 12. In the first quarter of 2017, the Company adopted updates to ASC Subtopic 835-30, Interest-Imputation of Interest , which require presentation of debt issuance costs as a deduction from the related debt liability rather than within other assets. This update was adopted on a retrospective basis and did not materially impact the Company’s financial statements.

Weighted Average Common Shares

Weighted Average Common Shares	3 Months Ended
	Dec. 31, 2016
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 2015 2016 Basic shares outstanding 650.0 642.8 Dilutive shares 2.5 1.5 Diluted shares outstanding 652.5 644.3

Other Financial Information

Other Financial Information	3 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
Other Financial Information	Other Financial Information (in millions): Sept 30, 2016 Dec 31, 2016 Inventories Finished products $ 382 423 Raw materials and work in process 826 855 Total $ 1,208 1,278 Property, plant and equipment, net Property, plant and equipment, at cost $ 7,327 7,293 Less: Accumulated depreciation 4,396 4,432 Total $ 2,931 2,861 Goodwill by business segment Automation Solutions $ 3,160 3,119 Climate Technologies 553 549 Tools & Home Products 196 193 Commercial & Residential Solutions 749 742 Total $ 3,909 3,861 Sept 30, 2016 Dec 31, 2016 Accrued expenses include the following Employee compensation $ 431 323 Customer advanced payments $ 433 459 Product warranty $ 106 96 Sept 30, 2016 Dec 31, 2016 Other liabilities Pension liabilities $ 844 795 Deferred income taxes 210 213 Postretirement liabilities, excluding current portion 193 191 Other 482 468 Total $ 1,729 1,667

Financial Instruments

Financial Instruments	3 Months Ended
	Dec. 31, 2016
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, 2016 , the notional amount of foreign currency hedge positions was approximately $1.1 billion , and commodity hedge contracts totaled approximately $85 million (primarily 44 million pounds 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, 2016 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, 2016 and 2015 (in millions): Into Earnings Into OCI 1st Quarter 1st Quarter Gains (Losses) Location 2015 2016 2015 2016 Commodity Cost of sales $ (8 ) (2 ) (11 ) 10 Foreign currency Sales, cost of sales (6 ) (10 ) 6 2 Foreign currency Other deductions, net 3 6 Total $ (11 ) (6 ) (5 ) 12 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, 2016 and 2015 . 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, 2016 , the fair value of long-term debt was $4,358 million , which exceeded the carrying value by $291 million . At December 31, 2016 , 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, 2016 December 31, 2016 Assets Liabilities Assets Liabilities Foreign Currency $ 7 49 17 40 Commodity $ 2 4 10 1 Counterparties to derivatives arrangements are companies with investment-grade 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 maximum amount that could potentially have been required was $29 million . The Company also 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, 2016 .

Equity Roll Forward

Equity Roll Forward	3 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Equity	The change in equity for the first three months of 2017 is shown below (in millions): Common Stockholders' Equity Noncontrolling Interests in Subsidiaries Total Equity Balance at September 30, 2016 $ 7,568 50 7,618 Net earnings 309 6 315 Other comprehensive income (loss) (31 ) (2 ) (33 ) Cash dividends (311 ) (13 ) (324 ) Stock plans 178 — 178 Balance at December 31, 2 016 $ 7,713 41 7,754

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	3 Months Ended
	Dec. 31, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Comprehensive Income (Loss)	Activity in accumulated other comprehensive income (loss) for the three months ended December 31, 2016 and 2015 is shown below (in millions): Three Months Ended 2015 2016 Foreign currency translation Beginning balance $ (622 ) (812 ) Other comprehensive income (loss) before reclassifications (153 ) (367 ) Divestiture of business reclassified to gain on sale — 266 Ending balance (775 ) (913 ) Pension and postretirement Beginning balance (952 ) (1,162 ) Amortization of deferred actuarial losses into earnings 26 35 Divestiture of business reclassified to gain on sale — 20 Ending balance (926 ) (1,107 ) Cash flow hedges Beginning balance (43 ) (25 ) Deferral of gains (losses) arising during the period (3 ) 8 Reclassification of realized (gains) losses to sales and cost of sales 9 7 Ending balance (37 ) (10 ) Accumulated other comprehensive income (loss) $ (1,738 ) (2,030 ) Activity above is shown net of income taxes for the three months ended December 31, 2016 and 2015, respectively, as follows: amortization of pension and postretirement deferred actuarial losses: $(18) and $(14); pension and postretirement divestiture: $(7) and $ - ; deferral of cash flow hedging gains (losses): $(4) and $2; reclassification of realized cash flow hedging (gains) losses: $(5) and $(5).

Pension & Postretirement Expens

Pension & Postretirement Expenses	3 Months Ended
	Dec. 31, 2016
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 2015 2016 Service cost $ 22 21 Interest cost 50 42 Expected return on plan assets (88 ) (86 ) Net amortization 40 53 Total $ 24 30

Other Deductions, Net

Other Deductions, Net	3 Months Ended
	Dec. 31, 2016
Other Income and Expenses [Abstract]
Other Deductions, Net	Other deductions, net are summarized below (in millions): Three Months Ended 2015 2016 Amortization of intangibles $ 22 22 Restructuring costs 7 11 Other 25 — Total $ 54 33 The decrease in Other for the first quarter is primarily due to a favorable foreign currency transactions impact of $34 million reflecting gains of $13 million in the current year compared with losses of $21 million in the prior year, partially offset by higher acquisition-related costs.

Restructuring

Restructuring	3 Months Ended
	Dec. 31, 2016
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring 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. The Company expects full year 2017 restructuring expense to be approximately $50 million . This includes $11 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. Costs for the three months ended December 31, 2016 largely relate to restructuring of the global cost structure consistent with the current level of economic activity, as well as the redeployment of resources for future growth. Restructuring expense by business segment follows (in millions): Three Months Ended 2015 2016 Automation Solutions $ 5 6 Climate Technologies 1 4 Tools & Home Products 1 1 Commercial & Residential Solutions 2 5 Total $ 7 11 Details of the change in the liability for restructuring costs during the three months ended December 31, 2016 follow (in millions): Sept 30, 2016 Expense Utilized/Paid Dec 31, 2016 Severance and benefits $ 44 8 24 28 Lease and other contract terminations 5 — — 5 Vacant facility and other shutdown costs 3 1 1 3 Start-up and moving costs 2 2 2 2 Total $ 54 11 27 38

Business Segment Information

Business Segment Information	3 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Segment Reporting	Business Segments – The Company designs and manufactures products and delivers services that bring technology and engineering together to provide innovative solutions for customers in a wide range of industrial, commercial and consumer markets around the world. The Automation Solutions segment provides measurement, control, diagnostic capabilities and integrated manufacturing solutions for automated industrial processes, and serves oil and gas, refining, chemical, power generation, pharmaceutical, food and beverage, automotive and other end markets. The segment's major product offerings are described below. • Measurement & Analytical Instrumentation products measure the physical properties of liquid or gases in a process stream and communicate this information to a process control system, and analyze the chemical composition of process fluids and emissions to enhance quality and efficiency, as well as environmental compliance. • Valves, Actuators & Regulators consists of control valves which respond to commands from a control system to continuously and precisely modulate the flow of process fluids, valve actuators and controllers, and industrial and residential regulators that reduce the pressure of fluids moving from high-pressure supply lines into lower pressure systems. • Industrial Solutions provides fluid power and control mechanisms, electrical distribution equipment, and materials joining and precision cleaning products which are used in a variety of manufacturing operations to provide integrated manufacturing solutions to customers. • Process Control Systems & Solutions includes digital plant architecture that controls plant processes by communicating with and adjusting the "intelligent" plant devices described above to provide precision measurement, control, monitoring, asset optimization, and plant safety and reliability for plants that produce power, or process fluids or other items. The Commercial & Residential Solutions business consists of the Climate Technologies and Tools & Home Products segments. This business provides products and solutions that promote energy efficiency, enhance household and commercial comfort, and protect food quality and sustainability through heating, air conditioning and refrigeration technology, as well as a broad range of tools and appliance solutions. The Climate Technologies segment provides products and services for all areas of the climate control industry, including residential heating and cooling, commercial air conditioning, and commercial and industrial refrigeration. Products include compressors, temperature sensors and controls, thermostats, flow controls and remote monitoring technology and services that enable homeowners and businesses to better manage their heating, air conditioning and refrigeration systems for improved control and comfort, and lower energy costs. The Tools & Home Products segment offers tools for professionals and homeowners, residential storage products and appliance solutions. Products include professional pipe-working tools, residential and commercial food waste disposers, wet-dry vacuums, and home shelving and closet organization systems. Summarized information about the Company's results of operations by business segment follows (in millions): Three Months Ended December 31, Sales Earnings 2015 2016 2015 2016 Automation Solutions $ 2,162 1,967 341 326 Climate Technologies 786 859 133 161 Tools & Home Products 392 393 85 88 Commercial & Residential Solutions 1,178 1,252 218 249 Differences in accounting methods 44 33 Corporate and other (122 ) (98 ) Eliminations/Interest (3 ) (3 ) (47 ) (46 ) Total $ 3,337 3,216 434 464 The decrease in Corporate and other for the first quarter of 2017 is attributable to lower incentive stock compensation of $26 million which reflects the impact of changes in the Company's stock price. Automation Solutions sales by major product offering are summarized below (in millions): Three Months Ended December 31, 2015 2016 Measurement & Analytical Instrumentation $ 757 682 Valves, Actuators & Regulators 498 449 Industrial Solutions 385 367 Process Control Systems & Solutions 522 469 Total $ 2,162 1,967

Acquisitions and Divestitures

Acquisitions and Divestitures	3 Months Ended
	Dec. 31, 2016
Business Combinations [Abstract]
Acquisitions and Divestitures	In the fourth quarter of 2016, the Company entered into an agreement to purchase Pentair's Valves & Controls business for $3.15 billion , subject to certain post-closing adjustments. This business, with sales of approximately $1.6 billion , is a manufacturer of control, isolation and pressure relief valves and actuators, and complements the Valves, Actuators & Regulators product offering within Automation Solutions. The transaction is expected to close by March 31, 2017, subject to conclusion of ongoing regulatory reviews.

Discontinued Operations (Notes)

Discontinued Operations (Notes)	3 Months Ended
	Dec. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	Discontinued Operations – The Company previously announced strategic actions to streamline its portfolio, drive growth and accelerate value creation for shareholders. On November 30, 2016, the Company completed the sale of its network power systems business for $4 billion in cash, subject to certain post-closing adjustments, and retained a subordinated interest in distributions, contingent upon the equity holders first receiving a threshold return on their initial investment. This business comprised the former Network Power segment. Additionally, on January 31, 2017, the Company completed the sale of its power generation, motors and drives business for a value of $1.2 billion , representing cash plus assumption of certain postretirement liabilities by the buyer, subject to post-closing adjustments. This business was previously reported in the former Industrial Automations segment. The results of operations for these businesses have been reclassified into discontinued operations, and the assets and liabilities are reflected as held-for-sale. The financial results of the network power systems and power generation, motors and drives businesses reported as discontinued operations for the quarters ended December 31, 2016 and 2015 were as follows: Network Power Systems Power Generation, Motors and Drives Total Dec 31, 2015 Dec 31, 2016 Dec 31, 2015 Dec 31, 2016 Dec 31, 2015 Dec 31, 2016 Net sales $ 1,048 630 338 310 1,386 940 Cost of sales 650 394 261 232 911 626 SG&A 279 180 66 62 345 242 Other (income) deductions, net 48 (461 ) 12 40 60 (421 ) Earnings (Loss) before income taxes 71 517 (1 ) (24 ) 70 493 Income taxes 24 554 — (6 ) 24 548 Earnings (Loss), net of tax $ 47 (37 ) (1 ) (18 ) 46 (55 ) In the first quarter of 2017, discontinued operations consists of net earnings from operations of $14 million , an after-tax gain on divestiture of the network power systems business of $86 million ( $465 million pretax), income tax expense of $144 million for repatriation of sales proceeds, a loss of $38 million to write down the power generation, motors and drives business to the sales price less cost to sell, and lower expense of $27 million due to ceasing depreciation and amortization for the discontinued businesses held-for-sale. Results of discontinued operations for the first quarter of 2016 includes net earnings from operations of $68 million and separation costs related to the divestitures of $22 million . The Company expects to recognize approximately $100 million of income tax expense on completion of the sale of the power generation, motors and drives business, which closed on January 31, 2017, subject to finalization of several matters and post-closing adjustments. In fiscal 2017, the Company expects to pay income taxes of approximately $600 million as a result of completing the sales of the network power systems and power generation, motors and drives businesses. The aggregate carrying amounts of the major classes of assets and liabilities classified as held-for-sale as of December 31, 2016 and September 30, 2016 are summarized as follows: Network Power Systems Power Generation, Total Sept 30, 2016 Sept 30, 2016 Dec 31, 2016 Sept 30, 2016 Dec 31, 2016 Assets Receivables $ 1,202 290 259 1,492 259 Inventories 381 197 185 578 185 Other current assets 108 22 26 130 26 Property plant & equipment, net 352 259 237 611 237 Goodwill 2,111 580 528 2,691 528 Other noncurrent assets 473 55 49 528 49 Total assets held-for-sale $ 4,627 1,403 1,284 6,030 1,284 Liabilities Accounts payable $ 664 176 155 840 155 Other current liabilities 620 141 134 761 134 Deferred taxes and other noncurrent liabilities 227 99 89 326 89 Total liabilities held-for-sale $ 1,511 416 378 1,927 378 Net cash from operating and investing activities for the network power systems and power generation, motors and drives businesses for the quarters ended December 31, 2016 and 2015 were as follows: Network Power Systems Power Generation, Total Dec 31, 2015 Dec 31, 2016 Dec 31, 2015 Dec 31, 2016 Dec 31, 2015 Dec 31, 2016 Cash from operating activities $ 83 (173 ) 18 1 101 (172 ) Cash from investing activities $ (8 ) 3,903 (12 ) (9 ) (20 ) 3,894 Cash from operating activities was reduced by $139 million and $24 million for the quarters ending December 31, 2016 and 2015, respectively, due to income taxes and fees paid related to the transactions.

Weighted Average Common Shares

Weighted Average Common Shares (Tables)	3 Months Ended
	Dec. 31, 2016
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Schedule Of Basic And Diluted Earnings Per Share Reconciliation	Three Months Ended 2015 2016 Basic shares outstanding 650.0 642.8 Dilutive shares 2.5 1.5 Diluted shares outstanding 652.5 644.3

Other Financial Information (Ta

Other Financial Information (Tables)	3 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
Inventories	Sept 30, 2016 Dec 31, 2016 Inventories Finished products $ 382 423 Raw materials and work in process 826 855 Total $ 1,208 1,278
Property, Plant And Equipment, Net	Property, plant and equipment, net Property, plant and equipment, at cost $ 7,327 7,293 Less: Accumulated depreciation 4,396 4,432 Total $ 2,931 2,861
Goodwill By Business Segment	Goodwill by business segment Automation Solutions $ 3,160 3,119 Climate Technologies 553 549 Tools & Home Products 196 193 Commercial & Residential Solutions 749 742 Total $ 3,909 3,861
Accrued Expenses	Sept 30, 2016 Dec 31, 2016 Accrued expenses include the following Employee compensation $ 431 323 Customer advanced payments $ 433 459 Product warranty $ 106 96
Other Liabilities	Sept 30, 2016 Dec 31, 2016 Other liabilities Pension liabilities $ 844 795 Deferred income taxes 210 213 Postretirement liabilities, excluding current portion 193 191 Other 482 468 Total $ 1,729 1,667

Financial Instruments (Tables)

Financial Instruments (Tables)	3 Months Ended
	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule Of Derivative Instruments	The following gains and losses are included in earnings and other comprehensive income (OCI) for the three months ended December 31, 2016 and 2015 (in millions): Into Earnings Into OCI 1st Quarter 1st Quarter Gains (Losses) Location 2015 2016 2015 2016 Commodity Cost of sales $ (8 ) (2 ) (11 ) 10 Foreign currency Sales, cost of sales (6 ) (10 ) 6 2 Foreign currency Other deductions, net 3 6 Total $ (11 ) (6 ) (5 ) 12
Fair Value Measurements	Valuations of derivative contract positions are summarized below (in millions): September 30, 2016 December 31, 2016 Assets Liabilities Assets Liabilities Foreign Currency $ 7 49 17 40 Commodity $ 2 4 10 1

Equity Roll Forward (Tables)

Equity Roll Forward (Tables)	3 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Schedule of Stockholders' Equity	The change in equity for the first three months of 2017 is shown below (in millions): Common Stockholders' Equity Noncontrolling Interests in Subsidiaries Total Equity Balance at September 30, 2016 $ 7,568 50 7,618 Net earnings 309 6 315 Other comprehensive income (loss) (31 ) (2 ) (33 ) Cash dividends (311 ) (13 ) (324 ) Stock plans 178 — 178 Balance at December 31, 2 016 $ 7,713 41 7,754

Accumulated Other Comprehensi24

Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Dec. 31, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	Activity in accumulated other comprehensive income (loss) for the three months ended December 31, 2016 and 2015 is shown below (in millions): Three Months Ended 2015 2016 Foreign currency translation Beginning balance $ (622 ) (812 ) Other comprehensive income (loss) before reclassifications (153 ) (367 ) Divestiture of business reclassified to gain on sale — 266 Ending balance (775 ) (913 ) Pension and postretirement Beginning balance (952 ) (1,162 ) Amortization of deferred actuarial losses into earnings 26 35 Divestiture of business reclassified to gain on sale — 20 Ending balance (926 ) (1,107 ) Cash flow hedges Beginning balance (43 ) (25 ) Deferral of gains (losses) arising during the period (3 ) 8 Reclassification of realized (gains) losses to sales and cost of sales 9 7 Ending balance (37 ) (10 ) Accumulated other comprehensive income (loss) $ (1,738 ) (2,030 ) Activity above is shown net of income taxes for the three months ended December 31, 2016 and 2015, respectively, as follows: amortization of pension and postretirement deferred actuarial losses: $(18) and $(14); pension and postretirement divestiture: $(7) and $ - ; deferral of cash flow hedging gains (losses): $(4) and $2; reclassification of realized cash flow hedging (gains) losses: $(5) and $(5).

Pension & Postretirement Expe25

Pension & Postretirement Expenses (Tables)	3 Months Ended
	Dec. 31, 2016
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]
Summary of Pension and Postretirement Plan Expenses	Total periodic pension and postretirement expense is summarized below (in millions): Three Months Ended 2015 2016 Service cost $ 22 21 Interest cost 50 42 Expected return on plan assets (88 ) (86 ) Net amortization 40 53 Total $ 24 30

Other Deductions, Net (Tables)

Other Deductions, Net (Tables)	3 Months Ended
	Dec. 31, 2016
Other Income and Expenses [Abstract]
Schedule of Other Deductions, net	Other deductions, net are summarized below (in millions): Three Months Ended 2015 2016 Amortization of intangibles $ 22 22 Restructuring costs 7 11 Other 25 — Total $ 54 33

Restructuring (Tables)

Restructuring (Tables)	3 Months Ended
	Dec. 31, 2016
Restructuring and Related Activities [Abstract]
Restructuring By Segment	Restructuring expense by business segment follows (in millions): Three Months Ended 2015 2016 Automation Solutions $ 5 6 Climate Technologies 1 4 Tools & Home Products 1 1 Commercial & Residential Solutions 2 5 Total $ 7 11
Change In Liability For Restructuring Costs	Details of the change in the liability for restructuring costs during the three months ended December 31, 2016 follow (in millions): Sept 30, 2016 Expense Utilized/Paid Dec 31, 2016 Severance and benefits $ 44 8 24 28 Lease and other contract terminations 5 — — 5 Vacant facility and other shutdown costs 3 1 1 3 Start-up and moving costs 2 2 2 2 Total $ 54 11 27 38

Business Segment Information (T

Business Segment Information (Tables)	3 Months Ended
	Dec. 31, 2016
Segment Reporting Information [Line Items]
Results Of Operations By Business Segment	Automation Solutions sales by major product offering are summarized below (in millions): Three Months Ended December 31, 2015 2016 Measurement & Analytical Instrumentation $ 757 682 Valves, Actuators & Regulators 498 449 Industrial Solutions 385 367 Process Control Systems & Solutions 522 469 Total $ 2,162 1,967 Summarized information about the Company's results of operations by business segment follows (in millions): Three Months Ended December 31, Sales Earnings 2015 2016 2015 2016 Automation Solutions $ 2,162 1,967 341 326 Climate Technologies 786 859 133 161 Tools & Home Products 392 393 85 88 Commercial & Residential Solutions 1,178 1,252 218 249 Differences in accounting methods 44 33 Corporate and other (122 ) (98 ) Eliminations/Interest (3 ) (3 ) (47 ) (46 ) Total $ 3,337 3,216 434 464

Discontinued Operations (Tables

Discontinued Operations (Tables)	3 Months Ended
	Dec. 31, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Groups, Including Discontinued Operations [Table Text Block]	The aggregate carrying amounts of the major classes of assets and liabilities classified as held-for-sale as of December 31, 2016 and September 30, 2016 are summarized as follows: Network Power Systems Power Generation, Total Sept 30, 2016 Sept 30, 2016 Dec 31, 2016 Sept 30, 2016 Dec 31, 2016 Assets Receivables $ 1,202 290 259 1,492 259 Inventories 381 197 185 578 185 Other current assets 108 22 26 130 26 Property plant & equipment, net 352 259 237 611 237 Goodwill 2,111 580 528 2,691 528 Other noncurrent assets 473 55 49 528 49 Total assets held-for-sale $ 4,627 1,403 1,284 6,030 1,284 Liabilities Accounts payable $ 664 176 155 840 155 Other current liabilities 620 141 134 761 134 Deferred taxes and other noncurrent liabilities 227 99 89 326 89 Total liabilities held-for-sale $ 1,511 416 378 1,927 378 The financial results of the network power systems and power generation, motors and drives businesses reported as discontinued operations for the quarters ended December 31, 2016 and 2015 were as follows: Network Power Systems Power Generation, Motors and Drives Total Dec 31, 2015 Dec 31, 2016 Dec 31, 2015 Dec 31, 2016 Dec 31, 2015 Dec 31, 2016 Net sales $ 1,048 630 338 310 1,386 940 Cost of sales 650 394 261 232 911 626 SG&A 279 180 66 62 345 242 Other (income) deductions, net 48 (461 ) 12 40 60 (421 ) Earnings (Loss) before income taxes 71 517 (1 ) (24 ) 70 493 Income taxes 24 554 — (6 ) 24 548 Earnings (Loss), net of tax $ 47 (37 ) (1 ) (18 ) 46 (55 ) Net cash from operating and investing activities for the network power systems and power generation, motors and drives businesses for the quarters ended December 31, 2016 and 2015 were as follows: Network Power Systems Power Generation, Total Dec 31, 2015 Dec 31, 2016 Dec 31, 2015 Dec 31, 2016 Dec 31, 2015 Dec 31, 2016 Cash from operating activities $ 83 (173 ) 18 1 101 (172 ) Cash from investing activities $ (8 ) 3,903 (12 ) (9 ) (20 ) 3,894

Weighted Average Common Share30

Weighted Average Common Shares (Schedule Of Basic And Diluted Earnings Per Share Reconciliation) (Details) - shares shares in Millions	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Basic shares outstanding	642.8	650
Dilutive shares	1.5	2.5
Diluted shares outstanding	644.3	652.5

Other Financial Information (De

Other Financial Information (Details) - USD ($) $ in Millions	Dec. 31, 2016	Sep. 30, 2016
Other Financial Information [Line Items]
Finished products	$ 423	$ 382
Raw materials and work in process	855	826
Total	1,278	1,208
Property, plant and equipment, at cost	7,293	7,327
Less: Accumulated depreciation	4,432	4,396
Total	2,861	2,931
Goodwill, net	3,861	3,909
Employee compensation	323	431
Customer advanced payments	459	433
Product warranty	96	106
Pension liabilities	795	844
Deferred income taxes	213	210
Postretirement liabilities, excluding current portion	191	193
Other	468	482
Total	1,667	1,729
Automation Solutions [Member]
Other Financial Information [Line Items]
Goodwill, net	3,119	3,160
Commercial & Residential Solutions [Member]
Other Financial Information [Line Items]
Goodwill, net	742	749
Tools & Home Products [Member]
Other Financial Information [Line Items]
Goodwill, net	193	196
Climate Technologies [Member]
Other Financial Information [Line Items]
Goodwill, net	$ 549	$ 553

Financial Instruments (Schedule

Financial Instruments (Schedule Of Derivative Instruments) (Details) lb in Millions, $ in Millions	3 Months Ended
	Dec. 31, 2016USD ($)lb	Dec. 31, 2015USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) to earnings	$ (6)	$ (11)
Gain (loss) to other comprehensive income	12	(5)
Commodity Contract [Member] | Cash Flow Hedging [Member] | Other Comprehensive Income (Loss) [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) to other comprehensive income	10	(11)
Commodity Contract [Member] | Cash Flow Hedging [Member] | Cost of Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) reclassified to earnings	(2)	(8)
Foreign Exchange Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount of foreign currency hedge positions	1,100
Foreign Exchange Contract [Member] | Other deductions, net [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) to earnings	6	3
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	2	6
Foreign Exchange Contract [Member] | Cash Flow Hedging [Member] | Sales, Cost of Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) reclassified to earnings	(10)	$ (6)
All Commodity Hedges [Member] [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of commodities hedged	$ 85
Copper and Aluminum [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Weight in pounds of copper and aluminum commodity hedges | lb	44

Financial Instruments (Fair Val

Financial Instruments (Fair Value Measurements) (Details) - USD ($) $ in Millions	Dec. 31, 2016	Sep. 30, 2016
Derivatives, Fair Value [Line Items]
Fair value of long-term debt compared with carrying value	$ (291)
Maximum collateral that could have been required	29
Collateral posted to counterparties	0
Collateral held from counterparties	0
Fair Value, Inputs, Level 2 [Member]
Derivatives, Fair Value [Line Items]
Fair value of long-term debt	4,358
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	17	$ 7
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	40	49
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	10	2
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	$ 1	$ 4

Equity Roll Forward (Schedule O

Equity Roll Forward (Schedule Of Change In Equity) (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 7,568
Beginning balance	7,618
Net earnings	309	$ 349
Noncontrolling interests in earnings	6	4
Net earnings	315	353
Other comprehensive income (loss)	(33)	$ (121)
Cash dividends	(324)
Stock plans	178
Ending balance	7,713
Ending balance	7,754
AOCI Attributable to Parent [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	(31)
Retained Earnings [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends	(311)
Additional Paid-in Capital [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock plans	178
Noncontrolling Interest [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	50
Other comprehensive income (loss)	(2)
Cash dividends	(13)
Stock plans	0
Ending balance	$ 41

Accumulated Other Comprehensi35

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Sep. 30, 2016
Accumulated other comprehensive income [Roll Forward]
Beginning balance	$ 7,618
Ending balance	7,754
Accumulated other comprehensive income (loss)	(2,030)	$ (1,738)	$ (1,999)
Foreign currency translation [Member]
Accumulated other comprehensive income [Roll Forward]
Beginning balance	(812)	(622)
Other comprehensive income (loss) before reclassifications	(367)	(153)
Divestiture of business reclassified to gain on sale	266	0
Ending balance	(913)	(775)
Pension and post retirement [Member]
Accumulated other comprehensive income [Roll Forward]
Beginning balance	(1,162)	(952)
Amortization of deferred actuarial losses into earnings	35	26
Divestiture of business reclassified to gain on sale	20	0
Ending balance	(1,107)	(926)
Cash Flow Hedges [Member]
Accumulated other comprehensive income [Roll Forward]
Beginning balance	(25)	(43)
Deferral of gains (losses) arising during the period	8	(3)
Reclassification of realized (gains) losses to sales and cost of sales	7	9
Ending balance	$ (10)	$ (37)

Accumulated Other Comprehensi36

Accumulated Other Comprehensive Income (Details 2) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Pension and post retirement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amortization of deferred actuarial losses, tax	$ (18)	$ (14)
Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Deferred cash flow hedging gains (losses), tax	(4)	2
Reclass of deferred cash flow hedging (losses), tax	$ (5)	$ (5)

Pension & Postretirement Expe37

Pension & Postretirement Expenses (Summary Of Net Periodic Pension And Net Postretirement Plan Expenses) (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Pension And Postretirement Plan Expenses [Line Items]
Service cost	$ 21	$ 22
Interest cost	42	50
Expected return on plan assets	(86)	(88)
Net amortization	53	40
Total	$ 30	$ 24

Other Deductions, Net (Schedule

Other Deductions, Net (Schedule Of Other Deductions, Net) (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Other deductions, net [Line Items]
Amortization of intangibles	$ 22	$ 22
Restructuring costs	11	7
Other	0	25
Total	33	54
Change in gain (loss) from foreign currency transactions	34
Foreign Currency Transaction Gain (Loss), Realized	$ 13	$ (21)

Restructuring (Details)

Restructuring (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Sep. 30, 2017
Restructuring Reserve [Roll Forward]
Beginning restructuring liability	$ 54
Restructuring expense	11	$ 7
Restructuring paid	27
Ending restructuring of operations liability	38
Severance and benefits [Member]
Restructuring Reserve [Roll Forward]
Beginning restructuring liability	44
Restructuring expense	8
Restructuring paid	24
Ending restructuring of operations liability	28
Lease and other contract terminations [Member]
Restructuring Reserve [Roll Forward]
Beginning restructuring liability	5
Restructuring expense	0
Restructuring paid	0
Ending restructuring of operations liability	5
Vacant facility and other shutdown costs [Member]
Restructuring Reserve [Roll Forward]
Beginning restructuring liability	3
Restructuring expense	1
Restructuring paid	1
Ending restructuring of operations liability	3
Start-up and moving costs [Member]
Restructuring Reserve [Roll Forward]
Beginning restructuring liability	2
Restructuring expense	2
Restructuring paid	2
Ending restructuring of operations liability	2
Automation Solutions [Member]
Restructuring Reserve [Roll Forward]
Restructuring expense	6	5
Commercial & Residential Solutions [Member]
Restructuring Reserve [Roll Forward]
Restructuring expense	5	2
Tools & Home Products [Member]
Restructuring Reserve [Roll Forward]
Restructuring expense	1	1
Climate Technologies [Member]
Restructuring Reserve [Roll Forward]
Restructuring expense	$ 4	$ 1
Scenario, Forecast [Member]
Restructuring Reserve [Roll Forward]
Expected fiscal year restructuring expense			$ 50

Business Segment Information (D

Business Segment Information (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Net sales	$ 3,216	$ 3,337
Earnings before income taxes	464	434
Increase (decrease) in incentive stock compensation expense	(26)
Automation Solutions [Member] | Measurement & Analytical Instrumentation [Member]
Segment Reporting Information [Line Items]
Net sales	682	757
Automation Solutions [Member] | Valves, Actuators & Regulators [Member]
Segment Reporting Information [Line Items]
Net sales	449	498
Automation Solutions [Member] | Industrial Solutions [Member]
Segment Reporting Information [Line Items]
Net sales	367	385
Automation Solutions [Member] | Process Control Systems & Solutions [Member]
Segment Reporting Information [Line Items]
Net sales	469	522
Operating Segments [Member] | Automation Solutions [Member]
Segment Reporting Information [Line Items]
Net sales	1,967	2,162
Earnings before income taxes	326	341
Operating Segments [Member] | Commercial & Residential Solutions [Member]
Segment Reporting Information [Line Items]
Net sales	1,252	1,178
Earnings before income taxes	249	218
Operating Segments [Member] | Tools & Home Products [Member]
Segment Reporting Information [Line Items]
Net sales	393	392
Earnings before income taxes	88	85
Operating Segments [Member] | Climate Technologies [Member]
Segment Reporting Information [Line Items]
Net sales	859	786
Earnings before income taxes	161	133
Differences in accounting methods [Member]
Segment Reporting Information [Line Items]
Earnings before income taxes	33	44
Corporate and other [Member]
Segment Reporting Information [Line Items]
Earnings before income taxes	(98)	(122)
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net sales	(3)	(3)
Earnings before income taxes	$ (46)	$ (47)

Acquisitions and Divestitures A

Acquisitions and Divestitures Acquisitions (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Sep. 30, 2016
Business Acquisition [Line Items]
Revenue, Net	$ 3,216	$ 3,337
Purchase price of business, net of cash acquired	$ 16	$ 6
Pentair's Valves & Controls [Member]
Business Acquisition [Line Items]
Revenue, Net			$ 1,600
Purchase price of business, net of cash acquired			$ 3,150

Discontinued Operations (Detail

Discontinued Operations (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Mar. 31, 2017	Sep. 30, 2017	Sep. 30, 2016
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]
Earnings (Loss), net of tax	$ (55)	$ 46
Disposal Group, Including Discontinued Operation, Additional Disclosures [Abstract]
Cash from operating activities	(172)	101
Cash from investing activities	3,894	(20)
Combined, Network Power and Power Generation, motors and Drives Business [Member]
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]
Net sales	940	1,386
Cost of sales	626	911
SG&A	242	345
Other deductions (income), net	(421)	60
Earnings (Loss) before income taxes	493	70
Income taxes	548	24
Earnings (Loss), net of tax	(55)	46
Disposal Group, Including Discontinued Operation, Balance Sheet Disclosures [Abstract]
Accounts receivables	259				$ 1,492
Inventories	185				578
Other current assets	26				130
Property, plant & equipment, net	237				611
Goodwill	528				2,691
Other noncurrent assets	49				528
Total assets held-for-sale	1,284				6,030
Accounts payable	155				840
Other current liabilities	134				761
Deferred taxes and other noncurrent liabilities	89				326
Total liabilities held-for-sale	378				1,927
Disposal Group, Including Discontinued Operation, Additional Disclosures [Abstract]
Cash from operating activities	(172)	101
Cash from investing activities	3,894	(20)
Net earnings from operations after tax	14	68
Repatriation of Sales Proceeds	144
Benefit from ceasing depreciation on assets from discontinued operations	27
Separation costs related to portfolio repositioning actions		22
Cash payments for taxes & fees related to discontinued businesses	139	24
Network Power Systems Business [Member] | Discontinued Operations, Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from Divestiture of Business	4,000
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]
Net sales	630	1,048
Cost of sales	394	650
SG&A	180	279
Other deductions (income), net	(461)	48
Earnings (Loss) before income taxes	517	71
Income taxes	554	24
Earnings (Loss), net of tax	(37)	47
Disposal Group, Including Discontinued Operation, Balance Sheet Disclosures [Abstract]
Accounts receivables					1,202
Inventories					381
Other current assets					108
Property, plant & equipment, net					352
Goodwill					2,111
Other noncurrent assets					473
Total assets held-for-sale					4,627
Accounts payable					664
Other current liabilities					620
Deferred taxes and other noncurrent liabilities					227
Total liabilities held-for-sale					1,511
Disposal Group, Including Discontinued Operation, Additional Disclosures [Abstract]
Cash from operating activities	(173)	83
Cash from investing activities	3,903	(8)
Gain on sale of business, net of tax	86
Gain on sale of business, pretax	465
Power Generation, Motors and Drives Business [Member] | Discontinued Operations, Held-for-sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Agreed-Upon Purchase Price of Business	1,200
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]
Net sales	310	338
Cost of sales	232	261
SG&A	62	66
Other deductions (income), net	40	12
Earnings (Loss) before income taxes	(24)	(1)
Income taxes	(6)	0
Earnings (Loss), net of tax	(18)	(1)
Disposal Group, Including Discontinued Operation, Balance Sheet Disclosures [Abstract]
Accounts receivables	259				290
Inventories	185				197
Other current assets	26				22
Property, plant & equipment, net	237				259
Goodwill	528				580
Other noncurrent assets	49				55
Total assets held-for-sale	1,284				1,403
Accounts payable	155				176
Other current liabilities	134				141
Deferred taxes and other noncurrent liabilities	89				99
Total liabilities held-for-sale	378				$ 416
Disposal Group, Including Discontinued Operation, Additional Disclosures [Abstract]
Cash from operating activities	1	18
Cash from investing activities	(9)	$ (12)
Write down of business to sales price less cost to selll	$ 38
Scenario, Forecast [Member] | Combined, Network Power and Power Generation, motors and Drives Business [Member]
Disposal Group, Including Discontinued Operation, Additional Disclosures [Abstract]
Expected income tax payments upon completion of both transactions				$ 600
Scenario, Forecast [Member] | Power Generation, Motors and Drives Business [Member]
Disposal Group, Including Discontinued Operation, Additional Disclosures [Abstract]
Income tax expense expected upon completion of transaction.			$ 100