Emerson Electric (EMR) 10-Q 4 May 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	6 Months Ended
	Mar. 31, 2017	Apr. 30, 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	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		644,480,132

Consolidated Statements Of Earn

Consolidated Statements Of Earnings - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Net sales	$ 3,574	$ 3,579	$ 6,790	$ 6,916
Costs and expenses:
Cost of sales	2,017	2,037	3,868	3,960
Selling, general and administrative expenses	868	878	1,690	1,757
Other deductions, net	83	66	116	120
Interest expense (net of interest income of $9, $8, $15 and $14, respectively)	41	46	87	93
Earnings from continuing operations before income taxes	565	552	1,029	986
Income taxes	181	177	275	304
Earnings from continuing operations	384	375	754	682
Earnings from discontinued operations common stockholders	(84)	2	(139)	48
Discontinued operations, net of tax	(84)	2	(139)	48
Earnings from continuing operations	300	377	615	730
Less: Noncontrolling interests in earnings of subsidiaries	8	8	14	12
Net earnings common stockholders	292	369	601	718
Earnings from continuing operations common stockholders	$ 376	$ 367	$ 740	$ 670
Basic earnings from continuing operations per common share	$ 0.58	$ 0.57	$ 1.14	$ 1.04
Basic earnings from discontinued operations per common share	(0.13)	0	(0.21)	0.07
Basic earnings per common share	0.45	0.57	0.93	1.11
Diluted earnings from continuing operations per common share	0.58	0.57	1.14	1.03
Diluted earnings from discontinued operations per common share	(0.13)	0	(0.21)	0.07
Diluted earnings per common share	0.45	0.57	0.93	1.10
Cash dividends per common share	$ 0.48	$ 0.475	$ 0.96	$ 0.95
Discontinued Operations, Held-for-sale or Disposed of by Sale [Member] | Combined, Network Power and Power Generation, motors and Drives Business [Member]
Costs and expenses:
Discontinued operations, net of tax	$ (84)	$ 2	$ (139)	$ 48

Consolidated Statements Of Ear3

Consolidated Statements Of Earnings (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Income Statement [Abstract]
Interest income	$ 9	$ 8	$ 15	$ 14

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Net earnings	$ 300	$ 377	$ 615	$ 730
Other comprehensive income (loss), net of tax:
Foreign currency translation	259	125	156	(28)
Pension and postretirement	65	27	120	53
Cash flow hedges	17	5	32	11
Total other comprehensive income	341	157	308	36
Comprehensive income	641	534	923	766
Less: Noncontrolling interests in comprehensive income of subsidiaries	9	9	13	13
Comprehensive income common stockholders	$ 632	$ 525	$ 910	$ 753

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016
Current assets
Cash and equivalents	$ 5,039	$ 3,182
Receivables, less allowances of $112 and $92, respectively	2,479	2,701
Inventories	1,331	1,208
Other current assets	597	669
Current assets held-for-sale	0	2,200
Total current assets	9,446	9,960
Property, plant and equipment, net	2,880	2,931
Other assets
Goodwill	3,891	3,909
Other intangible assets	869	902
Other	191	200
Noncurrent assets held-for-sale	0	3,830
Total other assets	4,951	8,841
Total assets	17,277	21,732
Current liabilities
Short-term borrowings and current maturities of long-term debt	252	2,584
Accounts payable	1,368	1,517
Accrued expenses	1,952	2,126
Income taxes	199	180
Current liabilities held-for-sale	0	1,601
Total current liabilities	3,771	8,008
Long-term debt	3,816	4,051
Other liabilities	1,633	1,729
Noncurrent liabilities held-for-sale	0	326
Equity
Common stock, $0.50 par value; authorized, 1,200,000,000 shares; issued, 953,354,012 shares; outstanding, 644,380,547 shares and 642,796,490 shares, respectively	477	477
Additional paid-in-capital	337	205
Retained earnings	21,696	21,716
Accumulated other comprehensive income (loss)	(1,690)	(1,999)
Cost of common stock in treasury, 308,973,465 shares and 310,557,522 shares, respectively	(12,814)	(12,831)
Common stockholders’ equity	8,006	7,568
Noncontrolling interests in subsidiaries	51	50
Total equity	8,057	7,618
Total liabilities and equity	$ 17,277	$ 21,732

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 112	$ 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	644,380,547	642,796,490
Treasury stock, shares	308,973,465	310,557,522

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Operating activities
Net earnings	$ 615	$ 730
Discontinued operations, net of tax	(139)	48
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	283	286
Changes in operating working capital	126	100
Other, net	100	148
Cash from continuing operations	1,011	1,016
Cash from discontinued operations		190
Cash provided by operating activities	410	1,206
Investing activities
Capital expenditures	(194)	(210)
Purchases of businesses, net of cash and equivalents acquired	(16)	(11)
Other, net	(50)	71
Cash from continuing operations	(260)	(150)
Cash from discontinued operations	5,051	(38)
Cash provided by (used in) investing activities	4,791	(188)
Financing activities
Net increase in short-term borrowings	(2,228)	357
Proceeds from short-term borrowings greater than three months	0	1,174
Payments of short-term borrowings greater than three months	(90)	(827)
Payments of long-term debt	(252)	(253)
Dividends paid	(621)	(616)
Purchases of common stock	(120)	(555)
Other, net	29	(5)
Net cash used by financing activities	(3,282)	(725)
Effect of exchange rate changes on cash and equivalents	(62)	(25)
Increase (decrease) in cash and equivalents	1,857	268
Beginning cash and equivalents	3,182	3,054
Ending cash and equivalents	5,039	3,322
Changes in operating working capital
Receivables	190	312
Inventories	(137)	(78)
Other current assets	11	0
Accounts payable	(100)	(125)
Accrued expenses	(98)	(168)
Income taxes	8	(41)
Changes in operating working capital	$ 126	$ 100

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Mar. 31, 2017
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	6 Months Ended
	Mar. 31, 2017
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 Six Months Ended 2016 2017 2016 2017 Basic shares outstanding 642.0 643.6 646.0 643.2 Dilutive shares 2.7 1.2 2.6 1.3 Diluted shares outstanding 644.7 644.8 648.6 644.5

Other Financial Information

Other Financial Information	6 Months Ended
	Mar. 31, 2017
Disclosure Text Block [Abstract]
Other Financial Information	Other Financial Information (in millions): Sept 30, 2016 Mar 31, 2017 Inventories Finished products $ 382 434 Raw materials and work in process 826 897 Total $ 1,208 1,331 Property, plant and equipment, net Property, plant and equipment, at cost $ 7,327 7,405 Less: Accumulated depreciation 4,396 4,525 Total $ 2,931 2,880 Goodwill by business segment Automation Solutions $ 3,160 3,146 Climate Technologies 553 550 Tools & Home Products 196 195 Commercial & Residential Solutions 749 745 Total $ 3,909 3,891 Sept 30, 2016 Mar 31, Accrued expenses include the following Employee compensation $ 431 375 Customer advanced payments $ 433 471 Product warranty $ 106 97 Sept 30, 2016 Mar 31, Other liabilities Pension liabilities $ 844 762 Deferred income taxes 210 182 Postretirement liabilities, excluding current portion 193 190 Other 482 499 Total $ 1,729 1,633

Financial Instruments

Financial Instruments	6 Months Ended
	Mar. 31, 2017
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 March 31, 2017 , the notional amount of foreign currency hedge positions was approximately $1.1 billion , and commodity hedge contracts totaled approximately $85 million (primarily 41 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 March 31, 2017 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 and six months ended March 31, 2017 and 2016 (in millions): Into Earnings Into OCI 2nd Quarter Six Months 2nd Quarter Six Months Gains (Losses) Location 2016 2017 2016 2017 2016 2017 2016 2017 Commodity Cost of sales $ (12 ) 4 (20 ) 2 1 5 (10 ) 15 Foreign currency Sales, cost of sales (9 ) (7 ) (15 ) (17 ) (13 ) 20 (7 ) 22 Foreign currency Other deductions, net (10 ) (6 ) (7 ) — Total $ (31 ) (9 ) (42 ) (15 ) (12 ) 25 (17 ) 37 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 and six months ended March 31, 2017 and 2016 . 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 March 31, 2017 , the fair value of long-term debt was $4,375 million , which exceeded the carrying value by $307 million . At March 31, 2017 , 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 March 31, 2017 Assets Liabilities Assets Liabilities Foreign Currency $ 7 49 20 14 Commodity $ 2 4 12 — 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 $3 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 March 31, 2017 .

Equity Roll Forward

Equity Roll Forward	6 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Equity	The change in equity for the first six 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 601 14 615 Other comprehensive income (loss) 309 (1 ) 308 Cash dividends (621 ) (12 ) (633 ) Stock plans 149 — 149 Balance at March 31, 2017 $ 8,006 51 8,057

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	6 Months Ended
	Mar. 31, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Comprehensive Income (Loss)	Activity in accumulated other comprehensive income (loss) for the three and six months ended March 31, 2017 and 2016 is shown below (in millions): Three Months Ended March 31, Six Months Ended 2016 2017 2016 2017 Foreign currency translation Beginning balance $ (775 ) (913 ) (622 ) (812 ) Other comprehensive income (loss) before reclassifications 124 139 (29 ) (228 ) Reclassified to gain/loss on sale of businesses — 119 — 385 Ending balance (651 ) (655 ) (651 ) (655 ) Pension and postretirement Beginning balance (926 ) (1,107 ) (952 ) (1,162 ) Amortization of deferred actuarial losses into earnings 27 35 53 70 Reclassified to gain/loss on sale of businesses — 30 — 50 Ending balance (899 ) (1,042 ) (899 ) (1,042 ) Cash flow hedges Beginning balance (37 ) (10 ) (43 ) (25 ) Deferral of gains (losses) arising during the period (8 ) 15 (11 ) 23 Reclassification of realized (gains) losses to sales and cost of sales 13 2 22 9 Ending balance (32 ) 7 (32 ) 7 Accumulated other comprehensive income (loss) $ (1,582 ) (1,690 ) (1,582 ) (1,690 ) Activity above is shown net of income taxes for the three and six months ended March 31, 2017 and 2016, respectively, as follows: amortization of pension and postretirement deferred actuarial losses: $(18), $(14), $(36) and $(28); pension and postretirement divestiture: $(15), $ - , $(22) and $ -; deferral of cash flow hedging gains (losses): $(10), $4, $(14) and $6; reclassification of realized cash flow hedging (gains) losses: $(1), $(8), $(6) and $(13).

Pension & Postretirement Expens

Pension & Postretirement Expenses	6 Months Ended
	Mar. 31, 2017
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 March 31, Six Months Ended 2016 2017 2016 2017 Service cost $ 23 21 45 42 Interest cost 49 42 99 84 Expected return on plan assets (88 ) (86 ) (176 ) (172 ) Net amortization 41 53 81 106 Total $ 25 30 49 60

Other Deductions, Net

Other Deductions, Net	6 Months Ended
	Mar. 31, 2017
Other Income and Expenses [Abstract]
Other Deductions, Net	Other deductions, net are summarized below (in millions): Three Months Ended Six Months Ended 2016 2017 2016 2017 Amortization of intangibles $ 22 21 44 43 Restructuring costs 11 13 18 24 Other 33 49 58 49 Total $ 66 83 120 116 Other includes higher acquisition/divestiture costs of $11 million in the second quarter and $21 million year-to-date, and an increase in bad debt expense of $13 million and $11 million , respectively. The comparative impact of foreign currency transactions was favorable by $12 million in the second quarter and $46 million year-to-date.

Restructuring

Restructuring	6 Months Ended
	Mar. 31, 2017
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 $24 million incurred to date, as well as costs to complete actions initiated before the end of the second quarter and actions anticipated to be approved and initiated during the remainder of the year. Costs for the three and six months ended March 31, 2017 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 March 31, Six Months Ended 2016 2017 2016 2017 Automation Solutions $ 8 9 13 15 Climate Technologies 2 3 3 7 Tools & Home Products 1 — 2 1 Commercial & Residential Solutions 3 3 5 8 Corporate — 1 — 1 Total $ 11 13 18 24 Details of the change in the liability for restructuring costs during the six months ended March 31, 2017 follow (in millions): Sept 30, 2016 Expense Utilized/Paid Mar 31, 2017 Severance and benefits $ 44 13 35 22 Lease and other contract terminations 5 1 1 5 Asset write-downs — 1 1 — Vacant facility and other shutdown costs 3 2 3 2 Start-up and moving costs 2 7 5 4 Total $ 54 24 45 33

Business Segment Information

Business Segment Information	6 Months Ended
	Mar. 31, 2017
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 liquids 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 March 31, Six Months Ended March 31, Sales Earnings Sales Earnings 2016 2017 2016 2017 2016 2017 2016 2017 Automation Solutions $ 2,194 2,117 342 328 4,356 4,084 683 654 Climate Technologies 993 1,058 226 249 1,779 1,917 359 410 Tools & Home Products 394 402 92 96 786 795 177 184 Commercial & Residential Solutions 1,387 1,460 318 345 2,565 2,712 536 594 Differences in accounting methods 47 35 91 68 Corporate and other (109 ) (102 ) (231 ) (200 ) Eliminations/Interest (2 ) (3 ) (46 ) (41 ) (5 ) (6 ) (93 ) (87 ) Total $ 3,579 3,574 552 565 6,916 6,790 986 1,029 Corporate and other in 2017 includes lower incentive stock compensation of $17 million for the second quarter and $43 million year-to-date, which reflects the impact of changes in the Company's stock price. Corporate and other also includes higher acquisition/divestiture costs of $11 million for the second quarter and $21 million year-to-date. Automation Solutions sales by major product offering are summarized below (in millions): Three Months Ended March 31, Six Months Ended March 31, 2016 2017 2016 2017 Measurement & Analytical Instrumentation $ 766 736 1,523 1,418 Valves, Actuators & Regulators 532 497 1,030 946 Industrial Solutions 398 419 783 786 Process Control Systems & Solutions 498 465 1,020 934 Total $ 2,194 2,117 4,356 4,084

Acquisitions and Divestitures

Acquisitions and Divestitures	6 Months Ended
	Mar. 31, 2017
Business Combinations [Abstract]
Acquisitions and Divestitures	On April 28, 2017, the Company completed the acquisition of Pentair's valves & controls business for $3.15 billion , subject to certain post-closing adjustments. This business, with sales of approximately $1.6 billion for the trailing twelve months ended March 2017, is a manufacturer of control, isolation and pressure relief valves and actuators, and complements the Valves, Actuators & Regulators product offering within Automation Solutions. The initial accounting and pro forma disclosures will be provided in the Company's Form 10-Q for the third quarter of 2017 as the timing of the closure has not afforded the Company sufficient time to fully incorporate the impact of this business.

Discontinued Operations (Notes)

Discontinued Operations (Notes)	6 Months Ended
	Mar. 31, 2017
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 approximately $1.2 billion , subject to post-closing adjustments. This business was previously reported in the former Industrial Automation segment. The results of operations for these businesses were reclassified into discontinued operations, and the assets and liabilities were 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 three and six months ended March 31, 2017 and 2016 were as follows: Three Months Ended March 31, Network Power Systems Power Generation, Motors and Drives Total 2016 2017 2016 2017 2016 2017 Net sales $ 1,015 — 341 97 1,356 97 Cost of sales 639 — 263 75 902 75 SG&A 270 — 71 21 341 21 Other (income) deductions, net 44 — 11 4 55 4 Earnings (Loss) before income taxes 62 — (4 ) (3 ) 58 (3 ) Income taxes 56 (14 ) — 95 56 81 Earnings (Loss), net of tax $ 6 14 (4 ) (98 ) 2 (84 ) In the second quarter of 2017, the loss of $(84) million consists of income tax expense of $134 million recognized on completion of the sale of the power generation, motors and drives business, an income tax benefit of $41 million for planned repatriation of sales proceeds and cash from the business, an additional after-tax gain of $14 million related to the divestiture of the network power systems business, lower expense of $3 million due to ceasing depreciation and amortization for the discontinued business held-for-sale, and a loss from operations of $8 million . In 2016, earnings of $2 million included net earnings from operations of $58 million , $28 million of income tax expense for repatriation of cash, and $28 million after-tax for professional fees and other costs. Discontinued operations for the remainder of fiscal 2017 will reflect the impact of any post-closing adjustments, and professional fees and other costs. Six Months Ended March 31, Network Power Systems Power Generation, Motors and Drives Total 2016 2017 2016 2017 2016 2017 Net sales $ 2,063 630 679 407 2,742 1,037 Cost of sales 1,289 394 524 307 1,813 701 SG&A 549 180 137 83 686 263 Other (income) deductions, net 92 (461 ) 23 44 115 (417 ) Earnings (Loss) before income taxes 133 517 (5 ) (27 ) 128 490 Income taxes 80 540 — 89 80 629 Earnings (Loss), net of tax $ 53 (23 ) (5 ) (116 ) 48 (139 ) In 2017, the loss of $(139) million consists of an after-tax loss of $172 million ( $38 million pretax loss) on the divestiture of the power generation, motors and drives business, an after-tax gain on the divestiture of the network power systems business of $100 million ( $465 million pretax), income tax expense of $103 million for repatriation of sales proceeds and cash from the businesses, lower expense of $30 million due to ceasing depreciation and amortization for the discontinued businesses held-for-sale, and net earnings from operations of $6 million . In 2016, earnings of $48 million included net earnings from operations of $126 million , $28 million of income tax expense for repatriation of cash, and $50 million after-tax for professional fees and other costs. The aggregate carrying amounts of the major classes of assets and liabilities classified as held-for-sale as of September 30, 2016 are summarized as follows: Network Power Systems Power Generation, Total Sept 30, 2016 Sept 30, 2016 Sept 30, 2016 Assets Receivables $ 1,202 290 1,492 Inventories 381 197 578 Other current assets 108 22 130 Property plant & equipment, net 352 259 611 Goodwill 2,111 580 2,691 Other noncurrent assets 473 55 528 Total assets held-for-sale $ 4,627 1,403 6,030 Liabilities Accounts payable $ 664 176 840 Other current liabilities 620 141 761 Deferred taxes and other noncurrent liabilities 227 99 326 Total liabilities held-for-sale $ 1,511 416 1,927 Net cash from operating and investing activities for the network power systems and power generation, motors and drives businesses for the six months ended March 31, 2017 and 2016 were as follows: Network Power Systems Power Generation, Total Mar 31, 2016 Mar 31, 2017 Mar 31, 2016 Mar 31, 2017 Mar 31, 2016 Mar 31, 2017 Cash from operating activities $ 163 (572 ) 27 (29 ) 190 (601 ) Cash from investing activities $ (15 ) 5,063 (23 ) (12 ) (38 ) 5,051 Cash used for operating activities was $601 million for the six months ended March 31, 2017, which primarily includes payments for income taxes on completion of the divestitures and repatriation of cash, and professional fees and other costs. Cash from operations for the six months ended March 31, 2016 of $190 million included operating cash flow of the divested businesses, net of income taxes, and professional fees and other costs paid related to the transactions of $57 million . The Company expects total discontinued operations cash used for operating activities in fiscal 2017 to be approximately $750 million , which primarily consists of income tax payments related to the divestitures.

Weighted Average Common Shares

Weighted Average Common Shares (Tables)	6 Months Ended
	Mar. 31, 2017
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Schedule Of Basic And Diluted Earnings Per Share Reconciliation	Three Months Ended Six Months Ended 2016 2017 2016 2017 Basic shares outstanding 642.0 643.6 646.0 643.2 Dilutive shares 2.7 1.2 2.6 1.3 Diluted shares outstanding 644.7 644.8 648.6 644.5

Other Financial Information (Ta

Other Financial Information (Tables)	6 Months Ended
	Mar. 31, 2017
Disclosure Text Block [Abstract]
Inventories	Sept 30, 2016 Mar 31, 2017 Inventories Finished products $ 382 434 Raw materials and work in process 826 897 Total $ 1,208 1,331
Property, Plant And Equipment, Net	Property, plant and equipment, net Property, plant and equipment, at cost $ 7,327 7,405 Less: Accumulated depreciation 4,396 4,525 Total $ 2,931 2,880
Goodwill By Business Segment	Goodwill by business segment Automation Solutions $ 3,160 3,146 Climate Technologies 553 550 Tools & Home Products 196 195 Commercial & Residential Solutions 749 745 Total $ 3,909 3,891
Accrued Expenses	Sept 30, 2016 Mar 31, Accrued expenses include the following Employee compensation $ 431 375 Customer advanced payments $ 433 471 Product warranty $ 106 97
Other Liabilities	Sept 30, 2016 Mar 31, Other liabilities Pension liabilities $ 844 762 Deferred income taxes 210 182 Postretirement liabilities, excluding current portion 193 190 Other 482 499 Total $ 1,729 1,633

Financial Instruments (Tables)

Financial Instruments (Tables)	6 Months Ended
	Mar. 31, 2017
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 and six months ended March 31, 2017 and 2016 (in millions): Into Earnings Into OCI 2nd Quarter Six Months 2nd Quarter Six Months Gains (Losses) Location 2016 2017 2016 2017 2016 2017 2016 2017 Commodity Cost of sales $ (12 ) 4 (20 ) 2 1 5 (10 ) 15 Foreign currency Sales, cost of sales (9 ) (7 ) (15 ) (17 ) (13 ) 20 (7 ) 22 Foreign currency Other deductions, net (10 ) (6 ) (7 ) — Total $ (31 ) (9 ) (42 ) (15 ) (12 ) 25 (17 ) 37
Fair Value Measurements	Valuations of derivative contract positions are summarized below (in millions): September 30, 2016 March 31, 2017 Assets Liabilities Assets Liabilities Foreign Currency $ 7 49 20 14 Commodity $ 2 4 12 —

Equity Roll Forward (Tables)

Equity Roll Forward (Tables)	6 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Schedule of Stockholders' Equity	The change in equity for the first six 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 601 14 615 Other comprehensive income (loss) 309 (1 ) 308 Cash dividends (621 ) (12 ) (633 ) Stock plans 149 — 149 Balance at March 31, 2017 $ 8,006 51 8,057

Accumulated Other Comprehensi24

Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Mar. 31, 2017
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 and six months ended March 31, 2017 and 2016 is shown below (in millions): Three Months Ended March 31, Six Months Ended 2016 2017 2016 2017 Foreign currency translation Beginning balance $ (775 ) (913 ) (622 ) (812 ) Other comprehensive income (loss) before reclassifications 124 139 (29 ) (228 ) Reclassified to gain/loss on sale of businesses — 119 — 385 Ending balance (651 ) (655 ) (651 ) (655 ) Pension and postretirement Beginning balance (926 ) (1,107 ) (952 ) (1,162 ) Amortization of deferred actuarial losses into earnings 27 35 53 70 Reclassified to gain/loss on sale of businesses — 30 — 50 Ending balance (899 ) (1,042 ) (899 ) (1,042 ) Cash flow hedges Beginning balance (37 ) (10 ) (43 ) (25 ) Deferral of gains (losses) arising during the period (8 ) 15 (11 ) 23 Reclassification of realized (gains) losses to sales and cost of sales 13 2 22 9 Ending balance (32 ) 7 (32 ) 7 Accumulated other comprehensive income (loss) $ (1,582 ) (1,690 ) (1,582 ) (1,690 ) Activity above is shown net of income taxes for the three and six months ended March 31, 2017 and 2016, respectively, as follows: amortization of pension and postretirement deferred actuarial losses: $(18), $(14), $(36) and $(28); pension and postretirement divestiture: $(15), $ - , $(22) and $ -; deferral of cash flow hedging gains (losses): $(10), $4, $(14) and $6; reclassification of realized cash flow hedging (gains) losses: $(1), $(8), $(6) and $(13).

Pension & Postretirement Expe25

Pension & Postretirement Expenses (Tables)	6 Months Ended
	Mar. 31, 2017
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 March 31, Six Months Ended 2016 2017 2016 2017 Service cost $ 23 21 45 42 Interest cost 49 42 99 84 Expected return on plan assets (88 ) (86 ) (176 ) (172 ) Net amortization 41 53 81 106 Total $ 25 30 49 60

Other Deductions, Net (Tables)

Other Deductions, Net (Tables)	6 Months Ended
	Mar. 31, 2017
Other Income and Expenses [Abstract]
Schedule of Other Deductions, net	Other deductions, net are summarized below (in millions): Three Months Ended Six Months Ended 2016 2017 2016 2017 Amortization of intangibles $ 22 21 44 43 Restructuring costs 11 13 18 24 Other 33 49 58 49 Total $ 66 83 120 116

Restructuring (Tables)

Restructuring (Tables)	6 Months Ended
	Mar. 31, 2017
Restructuring and Related Activities [Abstract]
Restructuring By Segment	Restructuring expense by business segment follows (in millions): Three Months Ended March 31, Six Months Ended 2016 2017 2016 2017 Automation Solutions $ 8 9 13 15 Climate Technologies 2 3 3 7 Tools & Home Products 1 — 2 1 Commercial & Residential Solutions 3 3 5 8 Corporate — 1 — 1 Total $ 11 13 18 24
Change In Liability For Restructuring Costs	Details of the change in the liability for restructuring costs during the six months ended March 31, 2017 follow (in millions): Sept 30, 2016 Expense Utilized/Paid Mar 31, 2017 Severance and benefits $ 44 13 35 22 Lease and other contract terminations 5 1 1 5 Asset write-downs — 1 1 — Vacant facility and other shutdown costs 3 2 3 2 Start-up and moving costs 2 7 5 4 Total $ 54 24 45 33

Business Segment Information (T

Business Segment Information (Tables)	6 Months Ended
	Mar. 31, 2017
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 March 31, Six Months Ended March 31, 2016 2017 2016 2017 Measurement & Analytical Instrumentation $ 766 736 1,523 1,418 Valves, Actuators & Regulators 532 497 1,030 946 Industrial Solutions 398 419 783 786 Process Control Systems & Solutions 498 465 1,020 934 Total $ 2,194 2,117 4,356 4,084 Summarized information about the Company's results of operations by business segment follows (in millions): Three Months Ended March 31, Six Months Ended March 31, Sales Earnings Sales Earnings 2016 2017 2016 2017 2016 2017 2016 2017 Automation Solutions $ 2,194 2,117 342 328 4,356 4,084 683 654 Climate Technologies 993 1,058 226 249 1,779 1,917 359 410 Tools & Home Products 394 402 92 96 786 795 177 184 Commercial & Residential Solutions 1,387 1,460 318 345 2,565 2,712 536 594 Differences in accounting methods 47 35 91 68 Corporate and other (109 ) (102 ) (231 ) (200 ) Eliminations/Interest (2 ) (3 ) (46 ) (41 ) (5 ) (6 ) (93 ) (87 ) Total $ 3,579 3,574 552 565 6,916 6,790 986 1,029

Discontinued Operations (Tables

Discontinued Operations (Tables)	6 Months Ended
	Mar. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Groups, Including Discontinued Operations [Table Text Block]	Net cash from operating and investing activities for the network power systems and power generation, motors and drives businesses for the six months ended March 31, 2017 and 2016 were as follows: Network Power Systems Power Generation, Total Mar 31, 2016 Mar 31, 2017 Mar 31, 2016 Mar 31, 2017 Mar 31, 2016 Mar 31, 2017 Cash from operating activities $ 163 (572 ) 27 (29 ) 190 (601 ) Cash from investing activities $ (15 ) 5,063 (23 ) (12 ) (38 ) 5,051 The aggregate carrying amounts of the major classes of assets and liabilities classified as held-for-sale as of September 30, 2016 are summarized as follows: Network Power Systems Power Generation, Total Sept 30, 2016 Sept 30, 2016 Sept 30, 2016 Assets Receivables $ 1,202 290 1,492 Inventories 381 197 578 Other current assets 108 22 130 Property plant & equipment, net 352 259 611 Goodwill 2,111 580 2,691 Other noncurrent assets 473 55 528 Total assets held-for-sale $ 4,627 1,403 6,030 Liabilities Accounts payable $ 664 176 840 Other current liabilities 620 141 761 Deferred taxes and other noncurrent liabilities 227 99 326 Total liabilities held-for-sale $ 1,511 416 1,927 The financial results of the network power systems and power generation, motors and drives businesses reported as discontinued operations for the three and six months ended March 31, 2017 and 2016 were as follows: Three Months Ended March 31, Network Power Systems Power Generation, Motors and Drives Total 2016 2017 2016 2017 2016 2017 Net sales $ 1,015 — 341 97 1,356 97 Cost of sales 639 — 263 75 902 75 SG&A 270 — 71 21 341 21 Other (income) deductions, net 44 — 11 4 55 4 Earnings (Loss) before income taxes 62 — (4 ) (3 ) 58 (3 ) Income taxes 56 (14 ) — 95 56 81 Earnings (Loss), net of tax $ 6 14 (4 ) (98 ) 2 (84 ) Six Months Ended March 31, Network Power Systems Power Generation, Motors and Drives Total 2016 2017 2016 2017 2016 2017 Net sales $ 2,063 630 679 407 2,742 1,037 Cost of sales 1,289 394 524 307 1,813 701 SG&A 549 180 137 83 686 263 Other (income) deductions, net 92 (461 ) 23 44 115 (417 ) Earnings (Loss) before income taxes 133 517 (5 ) (27 ) 128 490 Income taxes 80 540 — 89 80 629 Earnings (Loss), net of tax $ 53 (23 ) (5 ) (116 ) 48 (139 )

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		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Basic shares outstanding	643.6	642	643.2	646
Dilutive shares	1.2	2.7	1.3	2.6
Diluted shares outstanding	644.8	644.7	644.5	648.6

Other Financial Information (De

Other Financial Information (Details) - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016
Other Financial Information [Line Items]
Finished products	$ 434	$ 382
Raw materials and work in process	897	826
Total	1,331	1,208
Property, plant and equipment, at cost	7,405	7,327
Less: Accumulated depreciation	4,525	4,396
Total	2,880	2,931
Goodwill, net	3,891	3,909
Employee compensation	375	431
Customer advanced payments	471	433
Product warranty	97	106
Pension liabilities	762	844
Deferred income taxes	182	210
Postretirement liabilities, excluding current portion	190	193
Other	499	482
Total	1,633	1,729
Automation Solutions [Member]
Other Financial Information [Line Items]
Goodwill, net	3,146	3,160
Commercial & Residential Solutions [Member]
Other Financial Information [Line Items]
Goodwill, net	745	749
Tools & Home Products [Member]
Other Financial Information [Line Items]
Goodwill, net	195	196
Climate Technologies [Member]
Other Financial Information [Line Items]
Goodwill, net	$ 550	$ 553

Financial Instruments (Schedule

Financial Instruments (Schedule Of Derivative Instruments) (Details) lb in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017USD ($)lb	Mar. 31, 2016USD ($)	Mar. 31, 2017USD ($)lb	Mar. 31, 2016USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) to earnings	$ (9)	$ (31)	$ (15)	$ (42)
Gain (loss) to other comprehensive income	25	(12)	37	(17)
Commodity Contract [Member] | Cash Flow Hedging [Member] | Other Comprehensive Income (Loss) [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) to other comprehensive income	5	1	15	(10)
Commodity Contract [Member] | Cash Flow Hedging [Member] | Cost of Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) reclassified to earnings	4	(12)	2	(20)
Foreign Exchange Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount of foreign currency hedge positions	1,100		1,100
Foreign Exchange Contract [Member] | Other deductions, net [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) to earnings	(6)	(10)	0	(7)
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	20	(13)	22	(7)
Foreign Exchange Contract [Member] | Cash Flow Hedging [Member] | Sales, Cost of Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) reclassified to earnings	(7)	$ (9)	(17)	$ (15)
All Commodity Hedges [Member] [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of commodities hedged	$ 85		$ 85
Copper and Aluminum [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Weight in pounds of copper and aluminum commodity hedges | lb	41		41

Financial Instruments (Fair Val

Financial Instruments (Fair Value Measurements) (Details) - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016
Derivatives, Fair Value [Line Items]
Fair value of long-term debt compared with carrying value	$ (307)
Maximum collateral that could have been required	3
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	4,375
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	20	$ 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	14	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	12	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	$ 0	$ 4

Equity Roll Forward (Schedule O

Equity Roll Forward (Schedule Of Change In Equity) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance			$ 7,568
Beginning balance			7,618
Net earnings	$ 292	$ 369	601	$ 718
Noncontrolling interests in earnings	8	8	14	12
Net earnings	300	377	615	730
Other comprehensive income (loss)	341	$ 157	308	$ 36
Cash dividends			(633)
Stock plans			149
Ending balance	8,006		8,006
Ending balance	8,057		8,057
AOCI Attributable to Parent [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)			309
Retained Earnings [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends			(621)
Additional Paid-in Capital [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock plans			149
Noncontrolling Interest [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance			50
Other comprehensive income (loss)			(1)
Cash dividends			(12)
Stock plans			0
Ending balance	$ 51		$ 51

Accumulated Other Comprehensi35

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Sep. 30, 2016
Accumulated other comprehensive income [Roll Forward]
Beginning balance			$ 7,618
Ending balance	$ 8,057		8,057
Accumulated other comprehensive income (loss)	(1,690)	$ (1,582)	(1,690)	$ (1,582)	$ (1,999)
Foreign currency translation [Member]
Accumulated other comprehensive income [Roll Forward]
Beginning balance	(913)	(775)	(812)	(622)
Other comprehensive income (loss) before reclassifications	139	124	(228)	(29)
Reclassified to gain/loss on sale of businesses	119	0	385	0
Ending balance	(655)	(651)	(655)	(651)
Pension and post retirement [Member]
Accumulated other comprehensive income [Roll Forward]
Beginning balance	(1,107)	(926)	(1,162)	(952)
Amortization of deferred actuarial losses into earnings	35	27	70	53
Reclassified to gain/loss on sale of businesses	30	0	50	0
Ending balance	(1,042)	(899)	(1,042)	(899)
Cash Flow Hedges [Member]
Accumulated other comprehensive income [Roll Forward]
Beginning balance	(10)	(37)	(25)	(43)
Deferral of gains (losses) arising during the period	15	(8)	23	(11)
Reclassification of realized (gains) losses to sales and cost of sales	2	13	9	22
Ending balance	$ 7	$ (32)	$ 7	$ (32)

Accumulated Other Comprehensi36

Accumulated Other Comprehensive Income (Details 2) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Pension and post retirement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amortization of deferred actuarial losses, tax	$ (18)	$ (14)	$ (36)	$ (28)
Pension and post retirement divestitures	(15)	0	(22)	0
Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Deferred cash flow hedging gains (losses), tax	(10)	4	(14)	6
Reclass of deferred cash flow hedging (losses), tax	$ (1)	$ (8)	$ (6)	$ (13)

Pension & Postretirement Expe37

Pension & Postretirement Expenses (Summary Of Net Periodic Pension And Net Postretirement Plan Expenses) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Pension And Postretirement Plan Expenses [Line Items]
Service cost	$ 21	$ 23	$ 42	$ 45
Interest cost	42	49	84	99
Expected return on plan assets	(86)	(88)	(172)	(176)
Net amortization	53	41	106	81
Total	$ 30	$ 25	$ 60	$ 49

Other Deductions, Net (Schedule

Other Deductions, Net (Schedule Of Other Deductions, Net) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Other deductions, net [Line Items]
Amortization of intangibles	$ 21	$ 22	$ 43	$ 44
Restructuring costs	13	11	24	18
Other	49	33	49	58
Total	83	$ 66	116	$ 120
Acquisition/divestiture costs	11		21
Bad debt expense	13		11
Change in gain (loss) from foreign currency transactions	$ 12		$ 46

Restructuring (Details)

Restructuring (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Sep. 30, 2017
Restructuring Reserve [Roll Forward]
Beginning restructuring liability			$ 54
Restructuring expense	$ 13	$ 11	24	$ 18
Restructuring paid			45
Ending restructuring of operations liability	33		33
Severance and benefits [Member]
Restructuring Reserve [Roll Forward]
Beginning restructuring liability			44
Restructuring expense			13
Restructuring paid			35
Ending restructuring of operations liability	22		22
Lease and other contract terminations [Member]
Restructuring Reserve [Roll Forward]
Beginning restructuring liability			5
Restructuring expense			1
Restructuring paid			1
Ending restructuring of operations liability	5		5
Assets Write Downs [Member]
Restructuring Reserve [Roll Forward]
Beginning restructuring liability			0
Restructuring expense			1
Restructuring paid			1
Ending restructuring of operations liability	0		0
Vacant facility and other shutdown costs [Member]
Restructuring Reserve [Roll Forward]
Beginning restructuring liability			3
Restructuring expense			2
Restructuring paid			3
Ending restructuring of operations liability	2		2
Start-up and moving costs [Member]
Restructuring Reserve [Roll Forward]
Beginning restructuring liability			2
Restructuring expense			7
Restructuring paid			5
Ending restructuring of operations liability	4		4
Automation Solutions [Member]
Restructuring Reserve [Roll Forward]
Restructuring expense	9	8	15	13
Commercial & Residential Solutions [Member]
Restructuring Reserve [Roll Forward]
Restructuring expense	3	3	8	5
Climate Technologies [Member]
Restructuring Reserve [Roll Forward]
Restructuring expense	3	2	7	3
Tools & Home Products [Member]
Restructuring Reserve [Roll Forward]
Restructuring expense	0	1	1	2
Corporate Segment [Member]
Restructuring Reserve [Roll Forward]
Restructuring expense	$ 1	$ 0	$ 1	$ 0
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		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Segment Reporting Information [Line Items]
Net sales	$ 3,574	$ 3,579	$ 6,790	$ 6,916
Earnings before income taxes	565	552	1,029	986
Increase (decrease) in incentive stock compensation expense	(17)		(43)
Acquisition/divestiture costs	11		21
Automation Solutions [Member] | Measurement & Analytical Instrumentation [Member]
Segment Reporting Information [Line Items]
Net sales	736	766	1,418	1,523
Automation Solutions [Member] | Valves, Actuators & Regulators [Member]
Segment Reporting Information [Line Items]
Net sales	497	532	946	1,030
Automation Solutions [Member] | Industrial Solutions [Member]
Segment Reporting Information [Line Items]
Net sales	419	398	786	783
Automation Solutions [Member] | Process Control Systems & Solutions [Member]
Segment Reporting Information [Line Items]
Net sales	465	498	934	1,020
Operating Segments [Member] | Automation Solutions [Member]
Segment Reporting Information [Line Items]
Net sales	2,117	2,194	4,084	4,356
Earnings before income taxes	328	342	654	683
Operating Segments [Member] | Commercial & Residential Solutions [Member]
Segment Reporting Information [Line Items]
Net sales	1,460	1,387	2,712	2,565
Earnings before income taxes	345	318	594	536
Operating Segments [Member] | Tools & Home Products [Member]
Segment Reporting Information [Line Items]
Net sales	402	394	795	786
Earnings before income taxes	96	92	184	177
Operating Segments [Member] | Climate Technologies [Member]
Segment Reporting Information [Line Items]
Net sales	1,058	993	1,917	1,779
Earnings before income taxes	249	226	410	359
Differences in accounting methods [Member]
Segment Reporting Information [Line Items]
Earnings before income taxes	35	47	68	91
Corporate and other [Member]
Segment Reporting Information [Line Items]
Earnings before income taxes	(102)	(109)	(200)	(231)
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net sales	(3)	(2)	(6)	(5)
Earnings before income taxes	$ (41)	$ (46)	$ (87)	$ (93)

Acquisitions and Divestitures A

Acquisitions and Divestitures Acquisitions (Details) - USD ($) $ in Millions	Apr. 28, 2017	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Business Acquisition [Line Items]
Revenue, Net		$ 3,574	$ 3,579	$ 6,790	$ 6,916
Purchase price of business, net of cash acquired				$ 16	$ 11
Subsequent Event [Member] | 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
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Sep. 30, 2017	Sep. 30, 2016
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]
Earnings (Loss), net of tax	$ (84)	$ 2	$ (139)	$ 48
Disposal Group, Including Discontinued Operation, Additional Disclosures [Abstract]
Cash from operating activities				190
Cash from investing activities			5,051	(38)
Gain on sale of business, net of tax			14
Combined, Network Power and Power Generation, motors and Drives Business [Member] | Discontinued Operations, Held-for-sale or Disposed of by Sale [Member]
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]
Net sales	97	1,356	1,037	2,742
Cost of sales	75	902	701	1,813
SG&A	21	341	263	686
Other (income) deductions, net	4	55	(417)	115
Earnings (Loss) before income taxes	(3)	58	490	128
Income taxes	81	56	629	80
Earnings (Loss), net of tax	(84)	2	(139)	48
Disposal Group, Including Discontinued Operation, Balance Sheet Disclosures [Abstract]
Accounts receivables						$ 1,492
Inventories						578
Other current assets						130
Property, plant & equipment, net						611
Goodwill						2,691
Other noncurrent assets						528
Total assets held-for-sale						6,030
Accounts payable						840
Other current liabilities						761
Deferred taxes and other noncurrent liabilities						326
Total liabilities held-for-sale						1,927
Disposal Group, Including Discontinued Operation, Additional Disclosures [Abstract]
Cash from operating activities			(601)	190
Cash from investing activities			5,051	(38)
Benefit from ceasing depreciation on assets from discontinued operations			30
Net earnings (loss) from operations of discontinued operations, net of tax	(8)	58	6	126
Income tax expense for repatriation of cash		28		28
Separation costs for professional fees and other costs, net of tax		28		50
Income tax expense for repatriation of sales proceeds and cash from discontinued operations			103
Cash payments for income taxes, professional fees and other costs paid related to discontinued businesses				57
Network Power Systems Business [Member] | Discontinued Operations, Held-for-sale or 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	0	1,015	630	2,063
Cost of sales	0	639	394	1,289
SG&A	0	270	180	549
Other (income) deductions, net	0	44	(461)	92
Earnings (Loss) before income taxes	0	62	517	133
Income taxes	(14)	56	540	80
Earnings (Loss), net of tax	14	6	(23)	53
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			(572)	163
Cash from investing activities			5,063	(15)
Gain on sale of business, net of tax			100
Gain on sale of business, pretax			465
Power Generation, Motors and Drives Business [Member] | Discontinued Operations, Held-for-sale or Disposed of by 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	97	341	407	679
Cost of sales	75	263	307	524
SG&A	21	71	83	137
Other (income) deductions, net	4	11	44	23
Earnings (Loss) before income taxes	(3)	(4)	(27)	(5)
Income taxes	95	0	89	0
Earnings (Loss), net of tax	(98)	$ (4)	(116)	(5)
Disposal Group, Including Discontinued Operation, Balance Sheet Disclosures [Abstract]
Accounts receivables						290
Inventories						197
Other current assets						22
Property, plant & equipment, net						259
Goodwill						580
Other noncurrent assets						55
Total assets held-for-sale						1,403
Accounts payable						176
Other current liabilities						141
Deferred taxes and other noncurrent liabilities						99
Total liabilities held-for-sale						$ 416
Disposal Group, Including Discontinued Operation, Additional Disclosures [Abstract]
Cash from operating activities			(29)	27
Cash from investing activities			(12)	$ (23)
Income tax expense recognized on completion of sale of business	134
Income tax benefit for planned repatriation of sales proceeds and cash from discontinued operations	41
Benefit from ceasing depreciation on assets from discontinued operations	$ 3
After tax loss on completion of sale of business			172
Loss on sale of business, pretax			$ 38
Scenario, Forecast [Member] | Combined, Network Power and Power Generation, motors and Drives Business [Member] | Discontinued Operations, Held-for-sale or Disposed of by Sale [Member]
Disposal Group, Including Discontinued Operation, Additional Disclosures [Abstract]
Cash from operating activities					$ 750