Business Segments Information | BUSINESS SEGMENTS INFORMATION 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. In connection with the strategic portfolio repositioning actions undertaken to transform the Company into a more focused enterprise, the Company realigned its businesses. Starting in fiscal 2017, the Company began reporting three segments: Automation Solutions ; and Climate Technologies and Tools & Home Products , which together comprise the Commercial & Residential Solutions business. The Automation Solutions segment enables process, hybrid and discrete manufacturers to maximize production, protect personnel and the environment, reduce project costs, and optimize their energy efficiency and operating costs through a broad offering of integrated solutions, software, services and products, including measurement and analytical instrumentation, industrial valves and equipment, and process control software and systems. Significant markets served include oil and gas, refining, chemicals and power generation, as well as pharmaceuticals, food and beverage, automotive, pulp and paper, metals and mining, and municipal water supplies. 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 or other software applications, 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, isolation and pressure relief valves which respond to commands from a control system to continuously and precisely modulate the flow of process fluids, smart actuation and control technologies, pressure management products, 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 control and pneumatic mechanisms, electrical distribution equipment, and materials joining and precision cleaning products which are used in a variety of manufacturing operations to provide integrated solutions to customers. • Process Control Systems & Solutions provides a digital ecosystem 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, services and solutions for all areas of the climate control industry, including residential heating and cooling, commercial air conditioning, commercial and industrial refrigeration, and cold chain management. Products include compressors, temperature sensors and controls, thermostats, flow controls, and stationary and mobile remote monitoring technologies 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 and appliance solutions. Products include professional pipe-working tools, electrical and utility tools, residential and commercial food waste disposers, and wet-dry vacuums. The principal distribution method for each segment is direct sales forces, although the Company also uses independent sales representatives and distributors. Due to its global presence, certain of the Company's international operations are subject to risks including the stability of governments and business conditions in foreign countries which could result in adverse changes in exchange rates, changes in regulations or disruption of operations. The primary income measure used for assessing segment performance and making operating decisions is earnings before interest and income taxes. Certain expenses are reported at Corporate, including stock compensation expense and a portion of pension and postretirement benefit costs. Corporate and other includes unallocated corporate expenses, acquisition/divestiture costs, first year acquisition accounting charges (which include fair value adjustments related to inventory, backlog and deferred revenue) and other items. Corporate assets are primarily comprised of cash and equivalents, investments and certain fixed assets. Summarized below is information about the Company's operations by business segment and by geography. Business Segments Sales Earnings Total Assets 2017 2018 2019 2017 2018 2019 2017 2018 2019 Automation Solutions $ 9,418 11,441 12,202 $ 1,522 1,886 1,947 $ 12,581 13,720 13,996 Climate Technologies 4,212 4,454 4,313 975 972 883 2,547 2,936 2,885 Tools & Home Products 1,645 1,528 1,856 383 380 388 830 1,560 1,462 Commercial & Residential Solutions 5,857 5,982 6,169 1,358 1,352 1,271 3,377 4,496 4,347 Corporate items: Stock compensation — (110 ) (216 ) (120 ) — — Pension and postretirement costs 27 79 108 Corporate and other (297 ) (275 ) (173 ) 3,631 2,174 2,154 Eliminations/Interest (11 ) (15 ) 1 (165 ) (159 ) (174 ) Total $ 15,264 17,408 18,372 $ 2,335 2,667 2,859 $ 19,589 20,390 20,497 Automation Solutions sales by major product offering are summarized below: 2017 2018 2019 Measurement & Analytical Instrumentation $ 3,070 3,604 3,807 Valves, Actuators & Regulators 2,659 3,749 3,794 Industrial Solutions 1,689 1,967 2,232 Process Control Systems & Solutions 2,000 2,121 2,369 Total $ 9,418 11,441 12,202 Depreciation and Amortization Capital 2017 2018 2019 2017 2018 2019 Automation Solutions $ 381 488 535 $ 234 295 297 Climate Technologies 156 171 176 182 209 222 Tools & Home Products 45 44 71 45 64 59 Commercial & Residential Solutions 201 215 247 227 273 281 Corporate and other 54 55 40 15 49 16 Total $ 636 758 822 $ 476 617 594 Geographic Information Automation Solutions Commercial & Residential Solutions Total 2017 2018 2019 2017 2018 2019 2017 2018 2019 Americas $ 4,581 5,517 5,850 $ 4,051 3,967 4,253 $ 8,632 9,484 10,103 Asia, Middle East & Africa 2,936 3,657 3,891 1,273 1,384 1,192 4,209 5,041 5,083 Europe 1,901 2,267 2,461 533 631 724 2,434 2,898 3,185 Total $ 9,418 11,441 12,202 $ 5,857 5,982 6,169 $ 15,275 17,423 18,371 Sales in the U.S. were $8,390 , $7,939 and $7,273 for 2019 , 2018 and 2017 , respectively, while Asia, Middle East & Africa includes sales in China of $1,962 , $1,955 and $1,540 in those years. Property, Plant and Equipment 2017 2018 2019 Americas $ 2,055 2,234 2,339 Asia, Middle East & Africa 640 652 671 Europe 626 676 632 Total $ 3,321 3,562 3,642 Assets located in the U.S. were $2,128 in 2019 , $2,027 in 2018 and $1,840 in 2017 . |