Missouri
(State or other jurisdiction of
incorporation or organization)
|
|
43-0259330
(I.R.S. Employer
Identification No.)
|
8000 W. Florissant Ave.
P.O. Box 4100
St. Louis, Missouri
(Address of principal executive offices)
|
63136
(Zip Code)
|
Title of each class
|
|
Name of each exchange on which registered
|
Common Stock of $0.50 par value per share
|
|
New York Stock Exchange
Chicago Stock Exchange
|
Large accelerated filer
ý
|
Accelerated filer
¨
|
Non-accelerated filer
¨
|
Smaller reporting company
¨
|
|
Emerging growth company
¨
|
1.
|
Portions of Emerson Electric Co. Notice of
2019
Annual Meeting of Shareholders and Proxy Statement incorporated by reference into Part III hereof.
|
•
|
Automation Solutions
- enables process, hybrid and discrete manufacturers to maximize production, protect personnel and the environment, and optimize their energy efficiency and operating costs through a broad offering of products and integrated solutions, including measurement and analytical instrumentation, industrial valves and equipment, and process control systems.
|
•
|
Commercial & Residential Solutions
- 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.
|
|
2017
|
|
|
2018
|
|
|
Automation Solutions
|
$
|
4,414
|
|
|
4,473
|
|
Commercial & Residential Solutions
|
480
|
|
|
493
|
|
|
Total Backlog
|
$
|
4,894
|
|
|
4,966
|
|
Name
|
Position
|
Age
|
Fiscal Year
|
|
|
|
|
D. N. Farr
|
Chairman of the Board and Chief Executive Officer*
|
63
|
1985
|
|
|
|
|
F. J. Dellaquila
|
Senior Executive Vice President and Chief Financial Officer
|
61
|
1991
|
|
|
|
|
S. J. Pelch
|
Chief Operating Officer and Executive Vice President - Organization Planning and Development
|
54
|
2005
|
|
|
|
|
M. H. Train
|
President and Chairman Automation Solutions
|
56
|
1994
|
|
|
|
|
L. Karsanbhai
|
Executive President - Automation Solutions
|
49
|
2002
|
|
|
|
|
R. T. Sharp
|
Executive President - Commercial & Residential Solutions
|
51
|
1999
|
|
|
|
|
S. Y. Bosco
|
Senior Vice President, Secretary and General Counsel
|
60
|
2005
|
|
|
|
|
M. J. Bulanda
|
Senior Vice President - Planning and Development
|
52
|
2002
|
|
|
|
|
K. Button Bell
|
Senior Vice President and Chief Marketing Officer
|
60
|
1999
|
|
|
|
|
M. J. Baughman
|
Vice President, Controller and Chief Accounting Officer
|
53
|
2018
|
|
2014
|
|
|
2015 (a)
|
|
|
2016
|
|
|
2017
|
|
|
2018 (b)
|
|
|
Net sales
|
$
|
17,733
|
|
|
16,249
|
|
|
14,522
|
|
|
15,264
|
|
|
17,408
|
|
Earnings from continuing operations – common
stockholders
|
$
|
2,201
|
|
|
2,517
|
|
|
1,590
|
|
|
1,643
|
|
|
2,203
|
|
Basic earnings per common share from continuing
operations
|
$
|
3.13
|
|
|
3.72
|
|
|
2.46
|
|
|
2.54
|
|
|
3.48
|
|
Diluted earnings per common share from continuing
operations
|
$
|
3.11
|
|
|
3.71
|
|
|
2.45
|
|
|
2.54
|
|
|
3.46
|
|
Cash dividends per common share
|
$
|
1.72
|
|
|
1.88
|
|
|
1.90
|
|
|
1.92
|
|
|
1.94
|
|
Long-term debt
|
$
|
3,559
|
|
|
4,289
|
|
|
4,051
|
|
|
3,794
|
|
|
3,137
|
|
Total assets
|
$
|
24,177
|
|
|
22,088
|
|
|
21,732
|
|
|
19,589
|
|
|
20,390
|
|
/s/ David N. Farr
|
|
/s/ Frank J. Dellaquila
|
|
David N. Farr
|
|
Frank J. Dellaquila
|
|
Chairman of the Board
|
|
Senior Executive Vice President
|
|
and Chief Executive Officer
|
|
and Chief Financial Officer
|
|
|
|
|
|
|
2016
|
|
2017
|
|
2018
|
|
17 vs. 16
|
|
18 vs. 17
|
||||||
|
|
|
|
|
|
|
|
|
|
||||||
Net sales
|
$
|
14,522
|
|
|
15,264
|
|
|
17,408
|
|
|
5
|
%
|
|
14
|
%
|
Gross profit
|
$
|
6,262
|
|
|
6,404
|
|
|
7,460
|
|
|
2
|
%
|
|
16
|
%
|
Percent of sales
|
43.1
|
%
|
|
42.0
|
%
|
|
42.9
|
%
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
||||||
SG&A
|
$
|
3,464
|
|
|
3,618
|
|
|
4,258
|
|
|
|
|
|
|
|
Percent of sales
|
23.8
|
%
|
|
23.7
|
%
|
|
24.5
|
%
|
|
|
|
|
|
||
Other deductions, net
|
$
|
294
|
|
|
286
|
|
|
376
|
|
|
|
|
|
|
|
Interest expense, net
|
$
|
188
|
|
|
165
|
|
|
159
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Earnings from continuing operations
|
|
|
|
|
|
|
|
|
|
||||||
before income taxes
|
$
|
2,316
|
|
|
2,335
|
|
|
2,667
|
|
|
1
|
%
|
|
14
|
%
|
Percent of sales
|
16.0
|
%
|
|
15.3
|
%
|
|
15.3
|
%
|
|
|
|
|
|
||
Earnings from continuing operations
|
|
|
|
|
|
|
|
|
|
||||||
common stockholders
|
$
|
1,590
|
|
|
1,643
|
|
|
2,203
|
|
|
3
|
%
|
|
34
|
%
|
Net earnings common stockholders
|
$
|
1,635
|
|
|
1,518
|
|
|
2,203
|
|
|
(7
|
)%
|
|
45
|
%
|
Percent of sales
|
11.3
|
%
|
|
9.9
|
%
|
|
12.7
|
%
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
||||||
Diluted EPS – Earnings from continuing operations
|
$
|
2.45
|
|
|
2.54
|
|
|
3.46
|
|
|
4
|
%
|
|
36
|
%
|
Diluted EPS – Net earnings
|
$
|
2.52
|
|
|
2.35
|
|
|
3.46
|
|
|
(7
|
)%
|
|
47
|
%
|
|
|
|
|
|
|
|
|
|
|
||||||
Return on common stockholders' equity
|
20.9
|
%
|
|
18.6
|
%
|
|
24.9
|
%
|
|
|
|
|
|||
Return on total capital
|
15.5
|
%
|
|
15.3
|
%
|
|
20.6
|
%
|
|
|
|
|
AUTOMATION SOLUTIONS
|
|
|
|
|
|
|
|
|
|
||||||
(dollars in millions)
|
2016
|
|
2017
|
|
2018
|
|
17 vs. 16
|
|
18 vs. 17
|
||||||
|
|
|
|
|
|
|
|
|
|
||||||
Sales
|
$
|
8,977
|
|
|
9,418
|
|
|
11,441
|
|
|
5
|
%
|
|
21
|
%
|
Earnings
|
$
|
1,456
|
|
|
1,522
|
|
|
1,886
|
|
|
5
|
%
|
|
24
|
%
|
Margin
|
16.2
|
%
|
|
16.2
|
%
|
|
16.5
|
%
|
|
|
|
|
Sales by Major Product Offering
|
|
|
|
|
|
|
|
|
|
||||||
Measurement & Analytical Instrumentation
|
$
|
3,137
|
|
|
3,070
|
|
|
3,604
|
|
|
(2
|
)%
|
|
17
|
%
|
Valves, Actuators & Regulators
|
2,137
|
|
|
2,668
|
|
|
3,769
|
|
|
25
|
%
|
|
41
|
%
|
|
Industrial Solutions
|
1,621
|
|
|
1,680
|
|
|
1,947
|
|
|
4
|
%
|
|
16
|
%
|
|
Process Control Systems & Solutions
|
2,082
|
|
|
2,000
|
|
|
2,121
|
|
|
(4
|
)%
|
|
6
|
%
|
|
Total
|
$
|
8,977
|
|
|
9,418
|
|
|
11,441
|
|
|
5
|
%
|
|
21
|
%
|
COMMERCIAL & RESIDENTIAL SOLUTIONS
|
|
|
|
|
|
|
|||||||||
(dollars in millions)
|
2016
|
|
2017
|
|
2018
|
|
17 vs. 16
|
|
18 vs. 17
|
||||||
|
|
|
|
|
|
|
|
|
|
||||||
Sales:
|
|
|
|
|
|
|
|
|
|
||||||
Climate Technologies
|
$
|
3,944
|
|
|
4,212
|
|
|
4,454
|
|
|
7
|
%
|
|
6
|
%
|
Tools & Home Products
|
1,611
|
|
|
1,645
|
|
|
1,528
|
|
|
2
|
%
|
|
(7
|
)%
|
|
Total
|
$
|
5,555
|
|
|
5,857
|
|
|
5,982
|
|
|
5
|
%
|
|
2
|
%
|
|
|
|
|
|
|
|
|
|
|
||||||
Earnings:
|
|
|
|
|
|
|
|
|
|
||||||
Climate Technologies
|
$
|
902
|
|
|
975
|
|
|
972
|
|
|
8
|
%
|
|
—
|
%
|
Tools & Home Products
|
384
|
|
|
383
|
|
|
380
|
|
|
—
|
%
|
|
(1
|
)%
|
|
Total
|
$
|
1,286
|
|
|
1,358
|
|
|
1,352
|
|
|
6
|
%
|
|
—
|
%
|
Margin
|
23.2
|
%
|
|
23.2
|
%
|
|
22.6
|
%
|
|
|
|
|
CASH FLOW FROM CONTINUING OPERATIONS
|
|
|
|
|
|
||||
(dollars in millions)
|
2016
|
|
2017
|
|
2018
|
||||
|
|
|
|
|
|
||||
Operating Cash Flow
|
$
|
2,499
|
|
|
2,690
|
|
|
2,892
|
|
Percent of sales
|
17.2
|
%
|
|
17.6
|
%
|
|
16.6
|
%
|
|
Capital Expenditures
|
$
|
447
|
|
|
476
|
|
|
617
|
|
Percent of sales
|
3.1
|
%
|
|
3.1
|
%
|
|
3.5
|
%
|
|
Free Cash Flow
(Operating Cash Flow less Capital Expenditures)
|
$
|
2,052
|
|
|
2,214
|
|
|
2,275
|
|
Percent of sales
|
14.1
|
%
|
|
14.5
|
%
|
|
13.1
|
%
|
|
Operating Working Capital
|
$
|
755
|
|
|
1,007
|
|
|
985
|
|
Percent of sales
|
5.2
|
%
|
|
6.6
|
%
|
|
5.7
|
%
|
LEVERAGE/CAPITALIZATION
|
|
|
|
|
|
||||
(dollars in millions)
|
2016
|
|
2017
|
|
2018
|
||||
|
|
|
|
|
|
||||
Total Assets
|
$
|
21,732
|
|
|
19,589
|
|
|
20,390
|
|
Long-term Debt
|
$
|
4,051
|
|
|
3,794
|
|
|
3,137
|
|
Common Stockholders' Equity
|
$
|
7,568
|
|
|
8,718
|
|
|
8,947
|
|
|
|
|
|
|
|
||||
Total Debt-to-Total Capital Ratio
|
46.7
|
%
|
|
34.8
|
%
|
|
34.7
|
%
|
|
Net Debt-to-Net Capital Ratio
|
31.3
|
%
|
|
15.4
|
%
|
|
29.1
|
%
|
|
Operating Cash Flow-to-Debt Ratio
|
37.7
|
%
|
|
57.8
|
%
|
|
60.7
|
%
|
|
Interest Coverage Ratio
|
11.8X
|
|
|
12.6X
|
|
|
14.2X
|
|
|
Amounts Due By Period
|
||||||||||||||
(dollars in millions)
|
Total
|
|
|
Less Than 1 Year
|
|
|
1 - 3
Years
|
|
|
3 - 5
Years
|
|
|
More Than
5 Years
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Long-term Debt (including Interest)
|
$
|
5,177
|
|
|
847
|
|
|
1,068
|
|
|
1,170
|
|
|
2,092
|
|
Operating Leases
|
661
|
|
|
204
|
|
|
243
|
|
|
107
|
|
|
107
|
|
|
Purchase Obligations
|
924
|
|
|
768
|
|
|
132
|
|
|
16
|
|
|
8
|
|
|
Total
|
$
|
6,762
|
|
|
1,819
|
|
|
1,443
|
|
|
1,293
|
|
|
2,207
|
|
|
2016
|
|
|
2017
|
|
|
2018
|
|
|
|
|
|
|
|
|
||||
Net sales
|
$
|
14,522
|
|
|
15,264
|
|
|
17,408
|
|
Costs and expenses:
|
|
|
|
|
|
||||
Cost of sales
|
8,260
|
|
|
8,860
|
|
|
9,948
|
|
|
Selling, general and administrative expenses
|
3,464
|
|
|
3,618
|
|
|
4,258
|
|
|
Other deductions, net
|
294
|
|
|
286
|
|
|
376
|
|
|
Interest expense, net of interest income of: 2016, $27;
2017, $36; 2018, $43
|
188
|
|
|
165
|
|
|
159
|
|
|
Earnings from continuing operations before income taxes
|
2,316
|
|
|
2,335
|
|
|
2,667
|
|
|
Income taxes
|
697
|
|
|
660
|
|
|
443
|
|
|
Earnings from continuing operations
|
1,619
|
|
|
1,675
|
|
|
2,224
|
|
|
Discontinued operations, net of tax: 2016, $269; 2017, $671; 2018, $0
|
45
|
|
|
(125
|
)
|
|
—
|
|
|
Net earnings
|
1,664
|
|
|
1,550
|
|
|
2,224
|
|
|
Less: Noncontrolling interests in earnings of subsidiaries
|
29
|
|
|
32
|
|
|
21
|
|
|
Net earnings common stockholders
|
$
|
1,635
|
|
|
1,518
|
|
|
2,203
|
|
|
|
|
|
|
|
||||
Earnings common stockholders:
|
|
|
|
|
|
||||
Earnings from continuing operations
|
$
|
1,590
|
|
|
1,643
|
|
|
2,203
|
|
Discontinued operations, net of tax
|
45
|
|
|
(125
|
)
|
|
—
|
|
|
Net earnings common stockholders
|
$
|
1,635
|
|
|
1,518
|
|
|
2,203
|
|
|
|
|
|
|
|
||||
Basic earnings per share common stockholders:
|
|
|
|
|
|
||||
Earnings from continuing operations
|
$
|
2.46
|
|
|
2.54
|
|
|
3.48
|
|
Discontinued operations
|
0.07
|
|
|
(0.19
|
)
|
|
—
|
|
|
Basic earnings per common share
|
$
|
2.53
|
|
|
2.35
|
|
|
3.48
|
|
|
|
|
|
|
|
||||
Diluted earnings per share common stockholders:
|
|
|
|
|
|
||||
Earnings from continuing operations
|
$
|
2.45
|
|
|
2.54
|
|
|
3.46
|
|
Discontinued operations
|
0.07
|
|
|
(0.19
|
)
|
|
—
|
|
|
Diluted earnings per common share
|
$
|
2.52
|
|
|
2.35
|
|
|
3.46
|
|
|
|
|
|
|
|
|
|
2016
|
|
|
2017
|
|
|
2018
|
|
|
Net earnings
|
|
$
|
1,664
|
|
|
1,550
|
|
|
2,224
|
|
|
|
|
|
|
|
|
||||
Other comprehensive income (loss), net of tax:
|
|
|
|
|
|
|
||||
Foreign currency translation
|
|
(188
|
)
|
|
441
|
|
|
(231
|
)
|
|
Pension and postretirement
|
|
(210
|
)
|
|
500
|
|
|
242
|
|
|
Cash flow hedges
|
|
18
|
|
|
37
|
|
|
(7
|
)
|
|
Total other comprehensive income (loss)
|
|
(380
|
)
|
|
978
|
|
|
4
|
|
|
|
|
|
|
|
|
|
||||
Comprehensive income
|
|
1,284
|
|
|
2,528
|
|
|
2,228
|
|
|
|
|
|
|
|
|
|
||||
Less: Noncontrolling interests in comprehensive income of subsidiaries
|
|
31
|
|
|
30
|
|
|
21
|
|
|
Comprehensive income common stockholders
|
|
$
|
1,253
|
|
|
2,498
|
|
|
2,207
|
|
|
2017
|
|
|
2018
|
|
|
ASSETS
|
|
|
|
|||
Current assets
|
|
|
|
|||
Cash and equivalents
|
$
|
3,062
|
|
|
1,093
|
|
Receivables, less allowances of $91 in 2017 and $113 in 2018
|
3,072
|
|
|
3,344
|
|
|
Inventories
|
1,696
|
|
|
1,813
|
|
|
Other current assets
|
422
|
|
|
369
|
|
|
Total current assets
|
8,252
|
|
|
6,619
|
|
|
|
|
|
|
|||
Property, plant and equipment, net
|
3,321
|
|
|
3,562
|
|
|
|
|
|
|
|||
Other assets
|
|
|
|
|
||
Goodwill
|
5,316
|
|
|
6,455
|
|
|
Other intangible assets
|
1,890
|
|
|
2,751
|
|
|
Other
|
810
|
|
|
1,003
|
|
|
Total other assets
|
8,016
|
|
|
10,209
|
|
|
Total assets
|
$
|
19,589
|
|
|
20,390
|
|
|
|
|
|
|||
LIABILITIES AND EQUITY
|
|
|
|
|
|
|
Current liabilities
|
|
|
|
|
|
|
Short-term borrowings and current maturities of long-term debt
|
$
|
862
|
|
|
1,623
|
|
Accounts payable
|
1,776
|
|
|
1,943
|
|
|
Accrued expenses
|
2,342
|
|
|
2,534
|
|
|
Income taxes
|
65
|
|
|
64
|
|
|
Total current liabilities
|
5,045
|
|
|
6,164
|
|
|
|
|
|
|
|||
Long-term debt
|
3,794
|
|
|
3,137
|
|
|
|
|
|
|
|||
Other liabilities
|
1,980
|
|
|
2,099
|
|
|
|
|
|
|
|||
Equity
|
|
|
|
|
|
|
Common stock, $0.50 par value; authorized, 1,200.0 shares; issued, 953.4 shares; outstanding, 641.7 shares in 2017; 629.2 shares in 2018
|
477
|
|
|
477
|
|
|
Additional paid-in-capital
|
297
|
|
|
348
|
|
|
Retained earnings
|
21,995
|
|
|
23,072
|
|
|
Accumulated other comprehensive income (loss)
|
(1,019
|
)
|
|
(1,015
|
)
|
|
|
21,750
|
|
|
22,882
|
|
|
Less: Cost of common stock in treasury, 311.7 shares in 2017; 324.2 shares in 2018
|
13,032
|
|
|
13,935
|
|
|
Common stockholders’ equity
|
8,718
|
|
|
8,947
|
|
|
Noncontrolling interests in subsidiaries
|
52
|
|
|
43
|
|
|
Total equity
|
8,770
|
|
|
8,990
|
|
|
Total liabilities and equity
|
$
|
19,589
|
|
|
20,390
|
|
|
|
|
|
|||
See accompanying Notes to Consolidated Financial Statements.
|
|
|
|
|
2016
|
|
|
2017
|
|
|
2018
|
|
|
|
|
|
|
|
|
||||
Common stock
|
$
|
477
|
|
|
477
|
|
|
477
|
|
|
|
|
|
|
|
||||
Additional paid-in-capital
|
|
|
|
|
|
||||
Beginning balance
|
170
|
|
|
205
|
|
|
297
|
|
|
Stock plans
|
35
|
|
|
92
|
|
|
51
|
|
|
Ending balance
|
205
|
|
|
297
|
|
|
348
|
|
|
|
|
|
|
|
|
||||
Retained earnings
|
|
|
|
|
|
||||
Beginning balance
|
21,308
|
|
|
21,716
|
|
|
21,995
|
|
|
Net earnings common stockholders
|
1,635
|
|
|
1,518
|
|
|
2,203
|
|
|
Dividends paid (per share: 2016, $1.90; 2017, $1.92; 2018, $1.94)
|
(1,227
|
)
|
|
(1,239
|
)
|
|
(1,229
|
)
|
|
Adoption of accounting standard updates
|
—
|
|
|
—
|
|
|
103
|
|
|
Ending balance
|
21,716
|
|
|
21,995
|
|
|
23,072
|
|
|
|
|
|
|
|
|
||||
Accumulated other comprehensive income (loss)
|
|
|
|
|
|
||||
Beginning balance
|
(1,617
|
)
|
|
(1,999
|
)
|
|
(1,019
|
)
|
|
Foreign currency translation
|
(190
|
)
|
|
443
|
|
|
(231
|
)
|
|
Pension and postretirement
|
(210
|
)
|
|
500
|
|
|
242
|
|
|
Cash flow hedges
|
18
|
|
|
37
|
|
|
(7
|
)
|
|
Ending balance
|
(1,999
|
)
|
|
(1,019
|
)
|
|
(1,015
|
)
|
|
|
|
|
|
|
|
||||
Treasury stock
|
|
|
|
|
|
||||
Beginning balance
|
(12,257
|
)
|
|
(12,831
|
)
|
|
(13,032
|
)
|
|
Purchases
|
(601
|
)
|
|
(400
|
)
|
|
(1,000
|
)
|
|
Issued under stock plans
|
27
|
|
|
199
|
|
|
97
|
|
|
Ending balance
|
(12,831
|
)
|
|
(13,032
|
)
|
|
(13,935
|
)
|
|
|
|
|
|
|
|
||||
Common stockholders' equity
|
7,568
|
|
|
8,718
|
|
|
8,947
|
|
|
|
|
|
|
|
|
||||
Noncontrolling interests in subsidiaries
|
|
|
|
|
|
||||
Beginning balance
|
47
|
|
|
50
|
|
|
52
|
|
|
Net earnings
|
29
|
|
|
32
|
|
|
21
|
|
|
Other comprehensive income (loss)
|
2
|
|
|
(2
|
)
|
|
—
|
|
|
Dividends paid
|
(28
|
)
|
|
(28
|
)
|
|
(30
|
)
|
|
Ending balance
|
50
|
|
|
52
|
|
|
43
|
|
|
|
|
|
|
|
|
||||
Total equity
|
$
|
7,618
|
|
|
8,770
|
|
|
8,990
|
|
|
|
|
|
|
|
|
2016
|
|
|
2017
|
|
|
2018
|
|
|
Operating activities
|
|
|
|
|
|
||||
Net earnings
|
$
|
1,664
|
|
|
1,550
|
|
|
2,224
|
|
(Earnings) Loss from discontinued operations, net of tax
|
(45
|
)
|
|
125
|
|
|
—
|
|
|
Adjustments to reconcile net earnings to net cash provided by operating activities:
|
|
|
|
|
|
||||
Depreciation and amortization
|
568
|
|
|
636
|
|
|
758
|
|
|
Changes in operating working capital
|
93
|
|
|
160
|
|
|
(83
|
)
|
|
Pension funding
|
(66
|
)
|
|
(45
|
)
|
|
(61
|
)
|
|
Other, net
|
285
|
|
|
264
|
|
|
54
|
|
|
Cash from continuing operations
|
2,499
|
|
|
2,690
|
|
|
2,892
|
|
|
Cash from discontinued operations
|
382
|
|
|
(778
|
)
|
|
—
|
|
|
Cash provided by operating activities
|
2,881
|
|
|
1,912
|
|
|
2,892
|
|
|
|
|
|
|
|
|
||||
Investing activities
|
|
|
|
|
|
||||
Capital expenditures
|
(447
|
)
|
|
(476
|
)
|
|
(617
|
)
|
|
Purchases of businesses, net of cash and equivalents acquired
|
(132
|
)
|
|
(2,990
|
)
|
|
(2,203
|
)
|
|
Divestitures of businesses
|
—
|
|
|
39
|
|
|
201
|
|
|
Other, net
|
30
|
|
|
(106
|
)
|
|
(101
|
)
|
|
Cash from continuing operations
|
(549
|
)
|
|
(3,533
|
)
|
|
(2,720
|
)
|
|
Cash from discontinued operations
|
(77
|
)
|
|
5,047
|
|
|
—
|
|
|
Cash provided by (used in) investing activities
|
(626
|
)
|
|
1,514
|
|
|
(2,720
|
)
|
|
|
|
|
|
|
|
||||
Financing activities
|
|
|
|
|
|
||||
Net increase (decrease) in short-term borrowings
|
(34
|
)
|
|
(1,635
|
)
|
|
343
|
|
|
Proceeds from short-term borrowings greater than three months
|
1,264
|
|
|
—
|
|
|
—
|
|
|
Payments of short-term borrowings greater than three months
|
(1,174
|
)
|
|
(90
|
)
|
|
—
|
|
|
Payments of long-term debt
|
(254
|
)
|
|
(254
|
)
|
|
(241
|
)
|
|
Dividends paid
|
(1,227
|
)
|
|
(1,239
|
)
|
|
(1,229
|
)
|
|
Purchases of common stock
|
(601
|
)
|
|
(400
|
)
|
|
(1,000
|
)
|
|
Other, net
|
(19
|
)
|
|
27
|
|
|
35
|
|
|
Cash used in financing activities
|
(2,045
|
)
|
|
(3,591
|
)
|
|
(2,092
|
)
|
|
|
|
|
|
|
|
||||
Effect of exchange rate changes on cash and equivalents
|
(82
|
)
|
|
45
|
|
|
(49
|
)
|
|
Increase (Decrease) in cash and equivalents
|
128
|
|
|
(120
|
)
|
|
(1,969
|
)
|
|
Beginning cash and equivalents
|
3,054
|
|
|
3,182
|
|
|
3,062
|
|
|
Ending cash and equivalents
|
$
|
3,182
|
|
|
3,062
|
|
|
1,093
|
|
|
|
|
|
|
|
||||
Changes in operating working capital
|
|
|
|
|
|
||||
Receivables
|
$
|
162
|
|
|
(25
|
)
|
|
(189
|
)
|
Inventories
|
58
|
|
|
32
|
|
|
17
|
|
|
Other current assets
|
(4
|
)
|
|
(12
|
)
|
|
(28
|
)
|
|
Accounts payable
|
(22
|
)
|
|
135
|
|
|
115
|
|
|
Accrued expenses
|
(57
|
)
|
|
74
|
|
|
17
|
|
|
Income taxes
|
(44
|
)
|
|
(44
|
)
|
|
(15
|
)
|
|
Total changes in operating working capital
|
$
|
93
|
|
|
160
|
|
|
(83
|
)
|
|
|
2017
|
|
|
2018
|
|
|
Finished products
|
|
$
|
560
|
|
|
592
|
|
Raw materials and work in process
|
|
1,136
|
|
|
1,221
|
|
|
Total inventories
|
|
$
|
1,696
|
|
|
1,813
|
|
|
|
2017
|
|
|
2018
|
|
|
Land
|
|
$
|
295
|
|
|
316
|
|
Buildings
|
|
2,043
|
|
|
2,145
|
|
|
Machinery and equipment
|
|
5,175
|
|
|
5,470
|
|
|
Construction in progress
|
|
360
|
|
|
439
|
|
|
Property, plant and equipment, at cost
|
|
7,873
|
|
|
8,370
|
|
|
Less: Accumulated depreciation
|
|
4,552
|
|
|
4,808
|
|
|
Property, plant and equipment, net
|
|
$
|
3,321
|
|
|
3,562
|
|
Accounts receivable
|
|
$
|
154
|
|
Inventory
|
|
196
|
|
|
Property, plant and equipment
|
|
129
|
|
|
Goodwill
|
|
1,188
|
|
|
Intangibles
|
|
1,012
|
|
|
Other assets
|
|
45
|
|
|
Total assets
|
|
2,724
|
|
|
|
|
|
||
Accounts payable
|
|
73
|
|
|
Other current liabilities
|
|
112
|
|
|
Deferred taxes and other liabilities
|
|
320
|
|
|
Cash paid, net of cash acquired
|
|
$
|
2,219
|
|
Accounts receivable
|
|
$
|
349
|
|
Inventory
|
|
516
|
|
|
Property, plant and equipment
|
|
339
|
|
|
Goodwill
|
|
1,476
|
|
|
Intangibles
|
|
1,076
|
|
|
Other assets
|
|
282
|
|
|
Total assets
|
|
4,038
|
|
|
|
|
|
|
|
Accounts payable
|
|
119
|
|
|
Other current liabilities
|
|
306
|
|
|
Deferred taxes and other liabilities
|
|
671
|
|
|
Cash paid, net of cash acquired
|
|
$
|
2,942
|
|
|
|
2017
|
|
|
2018
|
|
|
|
|
|
|
|
|||
Net sales
|
|
$
|
17,148
|
|
|
18,186
|
|
Net earnings from continuing operations common stockholders
|
|
$
|
1,638
|
|
|
2,269
|
|
Diluted earnings per share from continuing operations
|
|
$
|
2.53
|
|
|
3.56
|
|
|
|
Network Power Systems
|
|
Power Generation, Motors and Drives
|
|
Total
|
|||||||||||||
|
|
2016
|
|
|
2017
|
|
|
2016
|
|
|
2017
|
|
|
2016
|
|
|
2017
|
|
|
Net sales
|
|
$
|
4,378
|
|
|
630
|
|
|
1,368
|
|
|
407
|
|
|
5,746
|
|
|
1,037
|
|
Cost of sales
|
|
2,708
|
|
|
394
|
|
|
1,033
|
|
|
307
|
|
|
3,741
|
|
|
701
|
|
|
SG&A
|
|
1,101
|
|
|
180
|
|
|
269
|
|
|
83
|
|
|
1,370
|
|
|
263
|
|
|
Other deductions, net
|
|
172
|
|
|
(515
|
)
|
|
149
|
|
|
42
|
|
|
321
|
|
|
(473
|
)
|
|
Earnings (Loss) before income taxes
|
|
397
|
|
|
571
|
|
|
(83
|
)
|
|
(25
|
)
|
|
314
|
|
|
546
|
|
|
Income taxes
|
|
218
|
|
|
577
|
|
|
51
|
|
|
94
|
|
|
269
|
|
|
671
|
|
|
Earnings (Loss), net of tax
|
|
$
|
179
|
|
|
(6
|
)
|
|
(134
|
)
|
|
(119
|
)
|
|
45
|
|
|
(125
|
)
|
|
|
Network Power Systems
|
|
Power Generation, Motors and Drives
|
|
Total
|
|||||||||||||
|
|
2016
|
|
|
2017
|
|
|
2016
|
|
|
2017
|
|
|
2016
|
|
|
2017
|
|
|
Cash from operating activities
|
|
$
|
343
|
|
|
(615
|
)
|
|
39
|
|
|
(163
|
)
|
|
382
|
|
|
(778
|
)
|
Cash from investing activities
|
|
$
|
(33
|
)
|
|
3,952
|
|
|
(44
|
)
|
|
1,095
|
|
|
(77
|
)
|
|
5,047
|
|
|
2016
|
|
|
2017
|
|
|
2018
|
|
|
Automation Solutions
|
$
|
80
|
|
|
63
|
|
|
41
|
|
|
|
|
|
|
|
||||
Climate Technologies
|
5
|
|
|
10
|
|
|
20
|
|
|
Tools & Home Products
|
2
|
|
|
2
|
|
|
3
|
|
|
Commercial & Residential Solutions
|
7
|
|
|
12
|
|
|
23
|
|
|
|
|
|
|
|
|
||||
Corporate
|
9
|
|
|
3
|
|
|
1
|
|
|
|
|
|
|
|
|
||||
Total
|
$
|
96
|
|
|
78
|
|
|
65
|
|
|
2017
|
|
|
Expense
|
|
Utilized/Paid
|
|
2018
|
|
|||||||
Severance and benefits
|
$
|
60
|
|
|
|
43
|
|
|
|
|
57
|
|
|
|
46
|
|
Lease and other contract terminations
|
4
|
|
|
|
3
|
|
|
|
|
4
|
|
|
|
3
|
|
|
Asset write-downs
|
—
|
|
|
|
4
|
|
|
|
|
4
|
|
|
|
—
|
|
|
Vacant facility and other shutdown costs
|
1
|
|
|
|
6
|
|
|
|
|
4
|
|
|
|
3
|
|
|
Start-up and moving costs
|
—
|
|
|
|
9
|
|
|
|
|
9
|
|
|
|
—
|
|
|
Total
|
$
|
65
|
|
|
|
65
|
|
|
|
|
78
|
|
|
|
52
|
|
|
2016
|
|
|
Expense
|
|
Utilized/Paid
|
|
2017
|
|
|||||||
Severance and benefits
|
$
|
44
|
|
|
|
49
|
|
|
|
|
33
|
|
|
|
60
|
|
Lease and other contract terminations
|
5
|
|
|
|
4
|
|
|
|
|
5
|
|
|
|
4
|
|
|
Asset write-downs
|
—
|
|
|
|
7
|
|
|
|
|
7
|
|
|
|
—
|
|
|
Vacant facility and other shutdown costs
|
3
|
|
|
|
5
|
|
|
|
|
7
|
|
|
|
1
|
|
|
Start-up and moving costs
|
2
|
|
|
|
13
|
|
|
|
|
15
|
|
|
|
—
|
|
|
Total
|
$
|
54
|
|
|
|
78
|
|
|
|
|
67
|
|
|
|
65
|
|
|
Automation Solutions
|
|
|
Climate Technologies
|
|
|
Tools & Home Products
|
|
|
Commercial & Residential Solutions
|
|
|
|
||
|
|
|
|
|
Total
|
|
|||||||||
Balance, September 30, 2016
|
$
|
3,160
|
|
|
553
|
|
|
196
|
|
|
749
|
|
|
3,909
|
|
Acquisitions
|
1,486
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,486
|
|
|
Divestitures
|
0
|
|
—
|
|
|
(142
|
)
|
|
(142
|
)
|
|
(142
|
)
|
||
Foreign currency
translation and other
|
58
|
|
|
2
|
|
|
3
|
|
|
5
|
|
|
63
|
|
|
Balance, September 30, 2017
|
4,704
|
|
|
555
|
|
|
57
|
|
|
612
|
|
|
5,316
|
|
|
Acquisitions
|
696
|
|
|
118
|
|
|
374
|
|
|
492
|
|
|
1,188
|
|
|
Foreign currency
translation and other
|
(45
|
)
|
|
(3
|
)
|
|
(1
|
)
|
|
(4
|
)
|
|
(49
|
)
|
|
Balance, September 30, 2018
|
$
|
5,355
|
|
|
670
|
|
|
430
|
|
|
1,100
|
|
|
6,455
|
|
|
Customer Relationships
|
|
Intellectual Property
|
|
Capitalized Software
|
|
Total
|
|||||||||||||||||
|
2017
|
|
|
2018
|
|
|
2017
|
|
|
2018
|
|
|
2017
|
|
|
2018
|
|
|
2017
|
|
|
2018
|
|
|
Gross carrying amount
|
$
|
1,392
|
|
|
1,968
|
|
|
1,012
|
|
|
1,469
|
|
|
1,137
|
|
|
1,230
|
|
|
3,541
|
|
|
4,667
|
|
Less: Accumulated amortization
|
361
|
|
|
451
|
|
|
435
|
|
|
544
|
|
|
855
|
|
|
921
|
|
|
1,651
|
|
|
1,916
|
|
|
Net carrying amount
|
$
|
1,031
|
|
|
1,517
|
|
|
577
|
|
|
925
|
|
|
282
|
|
|
309
|
|
|
1,890
|
|
|
2,751
|
|
|
|
|
Gain (Loss) to Earnings
|
|
Gain (Loss) to OCI
|
|||||||||||||||
|
|
|
2016
|
|
|
2017
|
|
|
2018
|
|
|
2016
|
|
|
2017
|
|
|
2018
|
|
|
|
Location
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Commodity
|
Cost of sales
|
|
$
|
(35
|
)
|
|
10
|
|
|
13
|
|
|
(9
|
)
|
|
25
|
|
|
(7
|
)
|
Foreign currency
|
Sales, cost of sales
|
|
(41
|
)
|
|
(15
|
)
|
|
2
|
|
|
(38
|
)
|
|
30
|
|
|
9
|
|
|
Foreign currency
|
Other deductions, net
|
|
(27
|
)
|
|
(39
|
)
|
|
(15
|
)
|
|
|
|
|
|
|
||||
Total
|
|
|
$
|
(103
|
)
|
|
(44
|
)
|
|
—
|
|
|
(47
|
)
|
|
55
|
|
|
2
|
|
|
|
2017
|
|
2018
|
|||||||||||
|
|
Assets
|
|
Liabilities
|
|
Assets
|
|
Liabilities
|
|||||||
Foreign currency
|
|
|
$
|
26
|
|
|
|
18
|
|
|
35
|
|
|
11
|
|
Commodity
|
|
|
$
|
12
|
|
|
|
—
|
|
|
1
|
|
|
10
|
|
|
|
2017
|
|
|
2018
|
|
|
Current maturities of long-term debt
|
|
$
|
270
|
|
|
688
|
|
Commercial paper
|
|
592
|
|
|
935
|
|
|
Total
|
|
$
|
862
|
|
|
1,623
|
|
|
|
|
|
|
|||
Interest rate for weighted-average short-term borrowings at year end
|
|
1.1%
|
|
2.1%
|
|
2017
|
|
|
2018
|
|
|
5.375% notes due October 2017
|
$
|
250
|
|
|
—
|
|
5.25% notes due October 2018
|
400
|
|
|
400
|
|
|
5.0% notes due April 2019
|
250
|
|
|
250
|
|
|
4.875% notes due October 2019
|
500
|
|
|
500
|
|
|
4.25% notes due November 2020
|
300
|
|
|
300
|
|
|
2.625% notes due December 2021
|
500
|
|
|
500
|
|
|
2.625% notes due February 2023
|
500
|
|
|
500
|
|
|
3.15% notes due June 2025
|
500
|
|
|
500
|
|
|
6.0% notes due August 2032
|
250
|
|
|
250
|
|
|
6.125% notes due April 2039
|
250
|
|
|
250
|
|
|
5.25% notes due November 2039
|
300
|
|
|
300
|
|
|
Other
|
64
|
|
|
75
|
|
|
Long-term debt
|
4,064
|
|
|
3,825
|
|
|
Less: Current maturities
|
270
|
|
|
688
|
|
|
Total, net
|
$
|
3,794
|
|
|
3,137
|
|
|
U.S. Plans
|
|
Non-U.S. Plans
|
|||||||||||||||
|
2016
|
|
|
2017
|
|
|
2018
|
|
|
2016
|
|
|
2017
|
|
|
2018
|
|
|
Defined benefit plans:
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Service cost (benefits earned during the period)
|
$
|
59
|
|
|
60
|
|
|
52
|
|
|
26
|
|
|
19
|
|
|
24
|
|
Interest cost
|
148
|
|
|
134
|
|
|
141
|
|
|
39
|
|
|
30
|
|
|
39
|
|
|
Expected return on plan assets
|
(296
|
)
|
|
(290
|
)
|
|
(283
|
)
|
|
(52
|
)
|
|
(56
|
)
|
|
(67
|
)
|
|
Net amortization and other
|
166
|
|
|
211
|
|
|
129
|
|
|
17
|
|
|
22
|
|
|
14
|
|
|
Net periodic pension expense
|
77
|
|
|
115
|
|
|
39
|
|
|
30
|
|
|
15
|
|
|
10
|
|
|
Defined contribution plans
|
104
|
|
|
96
|
|
|
132
|
|
|
56
|
|
|
47
|
|
|
52
|
|
|
Total retirement plans expense
|
$
|
181
|
|
|
211
|
|
|
171
|
|
|
86
|
|
|
62
|
|
|
62
|
|
|
U.S. Plans
|
|
Non-U.S. Plans
|
|||||||||
|
2017
|
|
|
2018
|
|
|
2017
|
|
|
2018
|
|
|
Projected benefit obligation, beginning
|
$
|
4,696
|
|
|
4,369
|
|
|
1,320
|
|
|
1,489
|
|
Service cost
|
60
|
|
|
52
|
|
|
19
|
|
|
24
|
|
|
Interest cost
|
134
|
|
|
141
|
|
|
30
|
|
|
39
|
|
|
Actuarial (gain) loss
|
(144
|
)
|
|
(262
|
)
|
|
(83
|
)
|
|
(51
|
)
|
|
Benefits paid
|
(201
|
)
|
|
(205
|
)
|
|
(29
|
)
|
|
(36
|
)
|
|
Settlements
|
(125
|
)
|
|
(152
|
)
|
|
(25
|
)
|
|
(49
|
)
|
|
Acquisitions (Divestitures), net
|
(55
|
)
|
|
13
|
|
|
163
|
|
|
54
|
|
|
Foreign currency translation and other
|
4
|
|
|
1
|
|
|
94
|
|
|
(28
|
)
|
|
Projected benefit obligation, ending
|
$
|
4,369
|
|
|
3,957
|
|
|
1,489
|
|
|
1,442
|
|
|
|
|
|
|
|
|
|
|||||
Fair value of plan assets, beginning
|
$
|
4,110
|
|
|
4,292
|
|
|
909
|
|
|
1,236
|
|
Actual return on plan assets
|
516
|
|
|
265
|
|
|
61
|
|
|
69
|
|
|
Employer contributions
|
20
|
|
|
20
|
|
|
25
|
|
|
41
|
|
|
Benefits paid
|
(201
|
)
|
|
(205
|
)
|
|
(29
|
)
|
|
(36
|
)
|
|
Settlements
|
(125
|
)
|
|
(152
|
)
|
|
(25
|
)
|
|
(49
|
)
|
|
Acquisitions (Divestitures), net
|
(30
|
)
|
|
12
|
|
|
232
|
|
|
10
|
|
|
Foreign currency translation and other
|
2
|
|
|
1
|
|
|
63
|
|
|
(28
|
)
|
|
Fair value of plan assets, ending
|
$
|
4,292
|
|
|
4,233
|
|
|
1,236
|
|
|
1,243
|
|
|
|
|
|
|
|
|
|
|||||
Net amount recognized in the balance sheet
|
$
|
(77
|
)
|
|
276
|
|
|
(253
|
)
|
|
(199
|
)
|
|
|
|
|
|
|
|
|
|||||
Location of net amount recognized in the balance sheet:
|
|
|
|
|
|
|
|
|||||
Noncurrent asset
|
$
|
154
|
|
|
465
|
|
|
43
|
|
|
126
|
|
Current liability
|
(11
|
)
|
|
(10
|
)
|
|
(11
|
)
|
|
(13
|
)
|
|
Noncurrent liability
|
(220
|
)
|
|
(179
|
)
|
|
(285
|
)
|
|
(312
|
)
|
|
Net amount recognized in the balance sheet
|
$
|
(77
|
)
|
|
276
|
|
|
(253
|
)
|
|
(199
|
)
|
|
|
|
|
|
|
|
|
|||||
Pretax accumulated other comprehensive loss
|
$
|
(923
|
)
|
|
(548
|
)
|
|
(238
|
)
|
|
(164
|
)
|
|
U.S. Plans
|
|
Non-U.S. Plans
|
||||||||||||||
|
2016
|
|
|
2017
|
|
|
2018
|
|
|
2016
|
|
|
2017
|
|
|
2018
|
|
Net pension expense
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Discount rate used to determine service cost
|
4.60
|
%
|
|
3.75
|
%
|
|
3.95
|
%
|
|
3.3
|
%
|
|
2.3
|
%
|
|
2.6
|
%
|
Discount rate used to determine interest cost
|
3.50
|
%
|
|
2.90
|
%
|
|
3.25
|
%
|
|
3.3
|
%
|
|
2.3
|
%
|
|
2.6
|
%
|
Expected return on plan assets
|
7.50
|
%
|
|
7.25
|
%
|
|
7.00
|
%
|
|
6.4
|
%
|
|
6.2
|
%
|
|
5.7
|
%
|
Rate of compensation increase
|
3.25
|
%
|
|
3.25
|
%
|
|
3.25
|
%
|
|
3.4
|
%
|
|
3.2
|
%
|
|
3.4
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Benefit obligations
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Discount rate
|
3.50
|
%
|
|
3.76
|
%
|
|
4.26
|
%
|
|
2.3
|
%
|
|
2.6
|
%
|
|
2.7
|
%
|
Rate of compensation increase
|
3.25
|
%
|
|
3.25
|
%
|
|
3.25
|
%
|
|
3.2
|
%
|
|
3.4
|
%
|
|
3.5
|
%
|
|
U.S. Plans
|
|
Non-U.S. Plans
|
||||||||||||
|
2017
|
|
|
2018
|
|
|
Target
|
|
2017
|
|
|
2018
|
|
|
Target
|
Equity securities
|
67
|
%
|
|
62
|
%
|
|
60-70%
|
|
52
|
%
|
|
52
|
%
|
|
45-55%
|
Debt securities
|
28
|
|
|
34
|
|
|
25-35
|
|
38
|
|
|
38
|
|
|
35-45
|
Other
|
5
|
|
|
4
|
|
|
3-10
|
|
10
|
|
|
10
|
|
|
5-15
|
Total
|
100
|
%
|
|
100
|
%
|
|
100%
|
|
100
|
%
|
|
100
|
%
|
|
100%
|
|
Level 1
|
|
|
Level 2
|
|
|
Level 3
|
|
|
Measured at NAV
|
|
Total
|
|
|
%
|
|
||
2018
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
U.S. equities
|
$
|
968
|
|
|
5
|
|
|
350
|
|
|
320
|
|
|
1,643
|
|
|
30
|
%
|
International equities
|
595
|
|
|
21
|
|
|
—
|
|
|
745
|
|
|
1,361
|
|
|
25
|
%
|
|
Emerging market equities
|
—
|
|
|
—
|
|
|
—
|
|
|
243
|
|
|
243
|
|
|
5
|
%
|
|
Corporate bonds
|
—
|
|
|
696
|
|
|
—
|
|
|
423
|
|
|
1,119
|
|
|
20
|
%
|
|
Government bonds
|
0
|
|
|
350
|
|
|
—
|
|
|
438
|
|
|
788
|
|
|
14
|
%
|
|
High-yield bonds
|
—
|
|
|
—
|
|
|
—
|
|
|
10
|
|
|
10
|
|
|
—
|
%
|
|
Other
|
107
|
|
|
6
|
|
|
121
|
|
|
78
|
|
|
312
|
|
|
6
|
%
|
|
Total
|
$
|
1,670
|
|
|
1,078
|
|
|
471
|
|
|
2,257
|
|
|
5,476
|
|
|
100
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
2017
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
U.S. equities
|
$
|
1,059
|
|
|
5
|
|
|
338
|
|
|
357
|
|
|
1,759
|
|
|
32
|
%
|
International equities
|
724
|
|
|
6
|
|
|
—
|
|
|
739
|
|
|
1,469
|
|
|
27
|
%
|
|
Emerging market equities
|
—
|
|
|
—
|
|
|
—
|
|
|
276
|
|
|
276
|
|
|
5
|
%
|
|
Corporate bonds
|
—
|
|
|
514
|
|
|
—
|
|
|
283
|
|
|
797
|
|
|
14
|
%
|
|
Government bonds
|
3
|
|
|
369
|
|
|
—
|
|
|
399
|
|
|
771
|
|
|
14
|
%
|
|
High-yield bonds
|
—
|
|
|
—
|
|
|
—
|
|
|
132
|
|
|
132
|
|
|
2
|
%
|
|
Other
|
132
|
|
|
6
|
|
|
113
|
|
|
73
|
|
|
324
|
|
|
6
|
%
|
|
Total
|
$
|
1,918
|
|
|
900
|
|
|
451
|
|
|
2,259
|
|
|
5,528
|
|
|
100
|
%
|
|
2017
|
|
|
2018
|
|
|
Level 3, beginning
|
$
|
405
|
|
|
451
|
|
Gains (Losses) on assets held
|
49
|
|
|
1
|
|
|
Gains (Losses) on assets sold
|
(28
|
)
|
|
37
|
|
|
Purchases, sales and settlements, net
|
25
|
|
|
(18
|
)
|
|
Level 3, ending
|
$
|
451
|
|
|
471
|
|
|
2016
|
|
|
2017
|
|
|
2018
|
|
|
Service cost
|
$
|
1
|
|
|
1
|
|
|
1
|
|
Interest cost
|
8
|
|
|
6
|
|
|
6
|
|
|
Net amortization
|
(21
|
)
|
|
(19
|
)
|
|
(19
|
)
|
|
Net postretirement expense
|
$
|
(12
|
)
|
|
(12
|
)
|
|
(12
|
)
|
|
2017
|
|
|
2018
|
|
|
Benefit obligation, beginning
|
$
|
206
|
|
|
174
|
|
Service cost
|
1
|
|
|
1
|
|
|
Interest cost
|
6
|
|
|
6
|
|
|
Actuarial (gain) loss
|
(24
|
)
|
|
(19
|
)
|
|
Benefits paid
|
(13
|
)
|
|
(13
|
)
|
|
Divestitures
|
(2
|
)
|
|
—
|
|
|
Benefit obligation, ending (recognized in balance sheet)
|
$
|
174
|
|
|
149
|
|
|
2016
|
|
|
2017
|
|
|
2018
|
|
|
United States
|
$
|
1,312
|
|
|
1,350
|
|
|
1,652
|
|
Non-U.S.
|
1,004
|
|
|
985
|
|
|
1,015
|
|
|
Total pretax earnings
|
$
|
2,316
|
|
|
2,335
|
|
|
2,667
|
|
|
2016
|
|
|
2017
|
|
|
2018
|
|
|
Current:
|
|
|
|
|
|
||||
U.S. federal
|
$
|
394
|
|
|
351
|
|
|
341
|
|
State and local
|
11
|
|
|
40
|
|
|
52
|
|
|
Non-U.S.
|
305
|
|
|
311
|
|
|
300
|
|
|
|
|
|
|
|
|
||||
Deferred:
|
|
|
|
|
|
||||
U.S. federal
|
2
|
|
|
7
|
|
|
(224
|
)
|
|
State and local
|
4
|
|
|
4
|
|
|
(11
|
)
|
|
Non-U.S.
|
(19
|
)
|
|
(53
|
)
|
|
(15
|
)
|
|
Income tax expense
|
$
|
697
|
|
|
660
|
|
|
443
|
|
|
2016
|
|
|
2017
|
|
|
2018
|
|
U.S. federal statutory rate
|
35.0
|
%
|
|
35.0
|
%
|
|
24.5
|
%
|
State and local taxes, net of U.S. federal tax benefit
|
0.5
|
|
|
1.2
|
|
|
1.2
|
|
Non-U.S. rate differential
|
(2.9
|
)
|
|
(3.6
|
)
|
|
0.8
|
|
Non-U.S. tax holidays
|
(1.1
|
)
|
|
(1.0
|
)
|
|
(0.8
|
)
|
U.S. manufacturing deduction
|
(1.8
|
)
|
|
(1.7
|
)
|
|
(1.1
|
)
|
Gain on divestiture
|
—
|
|
|
—
|
|
|
1.0
|
|
Subsidiary restructuring
|
—
|
|
|
(1.8
|
)
|
|
(2.0
|
)
|
Transition impact of Tax Act
|
—
|
|
|
—
|
|
|
(7.1
|
)
|
Other
|
0.4
|
|
|
0.2
|
|
|
0.1
|
|
Effective income tax rate
|
30.1
|
%
|
|
28.3
|
%
|
|
16.6
|
%
|
|
2017
|
|
|
2018
|
|
|
Unrecognized tax benefits, beginning
|
$
|
86
|
|
|
132
|
|
Additions for current year tax positions
|
54
|
|
|
13
|
|
|
Additions for prior year tax positions
|
4
|
|
|
8
|
|
|
Reductions for prior year tax positions
|
(6
|
)
|
|
(8
|
)
|
|
Acquisitions and divestitures
|
9
|
|
|
21
|
|
|
Reductions for settlements with tax authorities
|
(4
|
)
|
|
(3
|
)
|
|
Reductions for expiration of statutes of limitations
|
(11
|
)
|
|
(5
|
)
|
|
Unrecognized tax benefits, ending
|
$
|
132
|
|
|
158
|
|
|
2017
|
|
|
2018
|
|
|
Deferred tax assets:
|
|
|
|
|||
Net operating losses and tax credits
|
$
|
444
|
|
|
396
|
|
Accrued liabilities
|
319
|
|
|
238
|
|
|
Postretirement and postemployment benefits
|
70
|
|
|
37
|
|
|
Employee compensation and benefits
|
173
|
|
|
119
|
|
|
Pensions
|
72
|
|
|
—
|
|
|
Other
|
196
|
|
|
151
|
|
|
Total
|
$
|
1,274
|
|
|
941
|
|
|
|
|
|
|||
Valuation allowances
|
$
|
(309
|
)
|
|
(341
|
)
|
|
|
|
|
|||
Deferred tax liabilities:
|
|
|
|
|||
Intangibles
|
$
|
(753
|
)
|
|
(693
|
)
|
Pensions
|
—
|
|
|
(43
|
)
|
|
Property, plant and equipment
|
(265
|
)
|
|
(187
|
)
|
|
Undistributed non-U.S. earnings
|
(249
|
)
|
|
(52
|
)
|
|
Other
|
(37
|
)
|
|
(35
|
)
|
|
Total
|
$
|
(1,304
|
)
|
|
(1,010
|
)
|
|
|
|
|
|||
Net deferred income tax liability
|
$
|
(339
|
)
|
|
(410
|
)
|
|
Weighted- Average Exercise Price Per Share
|
|
Shares
|
|
Total
Intrinsic Value of Shares |
|
Average Remaining Life (Years)
|
|||||||||||
Beginning of year
|
|
$
|
55.49
|
|
|
|
10,759
|
|
|
|
|
|
|
|
|
|
||
Options granted
|
|
$
|
66.49
|
|
|
|
21
|
|
|
|
|
|
|
|
|
|
||
Options exercised
|
|
$
|
53.20
|
|
|
|
(2,869
|
)
|
|
|
|
|
|
|
|
|
||
Options canceled
|
|
$
|
54.95
|
|
|
|
(110
|
)
|
|
|
|
|
|
|
|
|
||
End of year
|
|
$
|
56.37
|
|
|
|
7,801
|
|
|
|
$
|
160
|
|
|
|
|
5.1
|
|
Exercisable at end of year
|
|
$
|
57.30
|
|
|
|
6,680
|
|
|
|
$
|
131
|
|
|
|
|
4.8
|
|
|
Shares
|
|
Average Grant Date
Fair Value Per Share |
|||||
Beginning of year
|
4,999
|
|
|
|
$
|
50.33
|
|
|
Granted
|
2,295
|
|
|
|
$
|
63.79
|
|
|
Earned/vested
|
(310
|
)
|
|
|
$
|
51.27
|
|
|
Canceled
|
(86
|
)
|
|
|
$
|
56.53
|
|
|
End of year
|
6,898
|
|
|
|
$
|
54.69
|
|
|
•
|
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.
|
|
Sales
|
|
Earnings
|
|
Total Assets
|
||||||||||||||||||||||||
|
2016
|
|
|
2017
|
|
|
2018
|
|
|
2016
|
|
|
2017
|
|
|
2018
|
|
|
2016
|
|
|
2017
|
|
|
2018
|
|
|||
Automation Solutions
|
$
|
8,977
|
|
|
9,418
|
|
|
11,441
|
|
|
$
|
1,456
|
|
|
1,522
|
|
|
1,886
|
|
|
$
|
8,759
|
|
|
12,581
|
|
|
13,720
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Climate Technologies
|
3,944
|
|
|
4,212
|
|
|
4,454
|
|
|
902
|
|
|
975
|
|
|
972
|
|
|
2,489
|
|
|
2,547
|
|
|
2,936
|
|
|||
Tools & Home Products
|
1,611
|
|
|
1,645
|
|
|
1,528
|
|
|
384
|
|
|
383
|
|
|
380
|
|
|
809
|
|
|
830
|
|
|
1,560
|
|
|||
Commercial & Residential Solutions
|
5,555
|
|
|
5,857
|
|
|
5,982
|
|
|
1,286
|
|
|
1,358
|
|
|
1,352
|
|
|
3,298
|
|
|
3,377
|
|
|
4,496
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Differences in accounting methods
|
|
|
|
|
|
|
189
|
|
|
148
|
|
|
218
|
|
|
|
|
|
|
|
|||||||||
Corporate and other (a)
|
|
|
|
|
|
|
(427
|
)
|
|
(528
|
)
|
|
(630
|
)
|
|
9,675
|
|
|
3,631
|
|
|
2,174
|
|
||||||
Eliminations/Interest
|
(10
|
)
|
|
(11
|
)
|
|
(15
|
)
|
|
(188
|
)
|
|
(165
|
)
|
|
(159
|
)
|
|
|
|
|
|
|
||||||
Total
|
$
|
14,522
|
|
|
15,264
|
|
|
17,408
|
|
|
$
|
2,316
|
|
|
2,335
|
|
|
2,667
|
|
|
$
|
21,732
|
|
|
19,589
|
|
|
20,390
|
|
|
|
2016
|
|
|
2017
|
|
|
2018
|
|
|
|
|
|
|
|
|
|
||||
Measurement & Analytical Instrumentation
|
|
$
|
3,137
|
|
|
3,070
|
|
|
3,604
|
|
Valves, Actuators & Regulators
|
|
2,137
|
|
|
2,668
|
|
|
3,769
|
|
|
Industrial Solutions
|
|
1,621
|
|
|
1,680
|
|
|
1,947
|
|
|
Process Control Systems & Solutions
|
|
2,082
|
|
|
2,000
|
|
|
2,121
|
|
|
Total
|
|
$
|
8,977
|
|
|
9,418
|
|
|
11,441
|
|
|
Depreciation
and Amortization
|
|
Capital
Expenditures |
||||||||||||||||
|
2016
|
|
|
2017
|
|
|
2018
|
|
|
2016
|
|
|
2017
|
|
|
2018
|
|
||
Automation Solutions
|
$
|
330
|
|
|
400
|
|
|
507
|
|
|
$
|
246
|
|
|
234
|
|
|
295
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Climate Technologies
|
150
|
|
|
156
|
|
|
171
|
|
|
133
|
|
|
182
|
|
|
209
|
|
||
Tools & Home Products
|
44
|
|
|
45
|
|
|
44
|
|
|
44
|
|
|
45
|
|
|
64
|
|
||
Commercial & Residential Solutions
|
194
|
|
|
201
|
|
|
215
|
|
|
177
|
|
|
227
|
|
|
273
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Corporate and other
|
44
|
|
|
35
|
|
|
36
|
|
|
24
|
|
|
15
|
|
|
49
|
|
||
Total
|
$
|
568
|
|
|
636
|
|
|
758
|
|
|
$
|
447
|
|
|
476
|
|
|
617
|
|
|
Sales by Destination
|
|
Property, Plant and Equipment
|
||||||||||||||||
|
2016
|
|
|
2017
|
|
|
2018
|
|
|
2016
|
|
|
2017
|
|
|
2018
|
|
||
United States and Canada
|
$
|
7,505
|
|
|
7,854
|
|
|
8,620
|
|
|
$
|
1,780
|
|
|
1,852
|
|
|
2,036
|
|
Asia
|
2,926
|
|
|
3,253
|
|
|
3,936
|
|
|
459
|
|
|
525
|
|
|
547
|
|
||
Europe
|
2,300
|
|
|
2,434
|
|
|
2,898
|
|
|
435
|
|
|
626
|
|
|
676
|
|
||
Latin America
|
834
|
|
|
767
|
|
|
849
|
|
|
203
|
|
|
203
|
|
|
198
|
|
||
Middle East/Africa
|
957
|
|
|
956
|
|
|
1,105
|
|
|
54
|
|
|
115
|
|
|
105
|
|
||
Total
|
$
|
14,522
|
|
|
15,264
|
|
|
17,408
|
|
|
$
|
2,931
|
|
|
3,321
|
|
|
3,562
|
|
|
2016
|
|
|
2017
|
|
|
2018
|
|
|
Research and development expense
|
$
|
320
|
|
|
340
|
|
|
436
|
|
Depreciation expense
|
$
|
391
|
|
|
414
|
|
|
444
|
|
Rent expense
|
$
|
273
|
|
|
289
|
|
|
279
|
|
|
2017
|
|
|
2018
|
|
|
Pension assets
|
$
|
197
|
|
|
591
|
|
Asbestos-related insurance receivables
|
$
|
133
|
|
|
124
|
|
Deferred income taxes
|
$
|
86
|
|
|
74
|
|
|
2017
|
|
|
2018
|
|
|
Employee compensation
|
$
|
531
|
|
|
629
|
|
Customer advanced payments
|
$
|
505
|
|
|
453
|
|
Product warranty
|
$
|
120
|
|
|
124
|
|
|
2017
|
|
|
2018
|
|
|
Pension and postretirement liabilities
|
$
|
664
|
|
|
625
|
|
Deferred income taxes
|
425
|
|
|
484
|
|
|
Asbestos litigation
|
340
|
|
|
334
|
|
|
Other
|
551
|
|
|
656
|
|
|
Total
|
$
|
1,980
|
|
|
2,099
|
|
|
2016
|
|
|
2017
|
|
|
2018
|
|
|
Pension expense
|
$
|
95
|
|
|
127
|
|
|
49
|
|
Stock compensation expense
|
145
|
|
|
110
|
|
|
216
|
|
|
Transition impact of Tax Act
|
—
|
|
|
—
|
|
|
(189
|
)
|
|
Deferred income taxes and other
|
45
|
|
|
27
|
|
|
(22
|
)
|
|
Total
|
$
|
285
|
|
|
264
|
|
|
54
|
|
|
First Quarter
|
|
Second Quarter
|
|
Third Quarter
|
|
Fourth Quarter
|
|
Full Year
|
|||||||||||||||||||||
|
2017
|
|
|
2018
|
|
|
2017
|
|
|
2018
|
|
|
2017
|
|
|
2018
|
|
|
2017
|
|
|
2018
|
|
|
2017
|
|
|
2018
|
|
|
Net sales
|
$
|
3,216
|
|
|
3,816
|
|
|
3,574
|
|
|
4,248
|
|
|
4,039
|
|
|
4,456
|
|
|
4,435
|
|
|
4,888
|
|
|
15,264
|
|
|
17,408
|
|
Gross profit
|
$
|
1,365
|
|
|
1,621
|
|
|
1,557
|
|
|
1,825
|
|
|
1,678
|
|
|
1,949
|
|
|
1,804
|
|
|
2,065
|
|
|
6,404
|
|
|
7,460
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Earnings from continuing operations common stockholders
|
$
|
364
|
|
|
392
|
|
|
376
|
|
|
482
|
|
|
407
|
|
|
712
|
|
|
496
|
|
|
617
|
|
|
1,643
|
|
|
2,203
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net earnings common stockholders
|
$
|
309
|
|
|
392
|
|
|
292
|
|
|
482
|
|
|
413
|
|
|
712
|
|
|
504
|
|
|
617
|
|
|
1,518
|
|
|
2,203
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Earnings per common share from continuing operations:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Basic
|
$
|
0.56
|
|
|
0.61
|
|
|
0.58
|
|
|
0.76
|
|
|
0.63
|
|
|
1.13
|
|
|
0.77
|
|
|
0.98
|
|
|
2.54
|
|
|
3.48
|
|
Diluted
|
$
|
0.56
|
|
|
0.61
|
|
|
0.58
|
|
|
0.76
|
|
|
0.63
|
|
|
1.12
|
|
|
0.77
|
|
|
0.97
|
|
|
2.54
|
|
|
3.46
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net earnings per common share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Basic
|
$
|
0.48
|
|
|
0.61
|
|
|
0.45
|
|
|
0.76
|
|
|
0.64
|
|
|
1.13
|
|
|
0.78
|
|
|
0.98
|
|
|
2.35
|
|
|
3.48
|
|
Diluted
|
$
|
0.48
|
|
|
0.61
|
|
|
0.45
|
|
|
0.76
|
|
|
0.64
|
|
|
1.12
|
|
|
0.78
|
|
|
0.97
|
|
|
2.35
|
|
|
3.46
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Dividends per common share
|
$
|
0.48
|
|
|
0.485
|
|
|
0.48
|
|
|
0.485
|
|
|
0.48
|
|
|
0.485
|
|
|
0.48
|
|
|
0.485
|
|
|
1.92
|
|
|
1.94
|
|
/s/ KPMG LLP
|
|
Number of Securities
to be Issued upon
Exercise of
Outstanding Options, Warrants and Rights
|
|
Weighted-Average
Exercise Price of
Outstanding
Options, Warrants
and Rights
|
|
Number of Securities
Remaining Available for
Future Issuance under
Equity Compensation
Plans (Excluding
Securities Reflected in Column (a))
|
||||||
Plan Category
|
|
(a)
|
|
|
|
(b)
|
|
|
|
(c)
|
|
Equity compensation plans
approved by security holders (1)
|
|
14,980,377
|
|
|
|
$56.37
|
|
|
|
22,020,008
|
|
Equity compensation plans not
approved by security holders
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
Total
|
|
14,980,377
|
|
|
|
$56.37
|
|
|
|
22,020,008
|
|
(1)
|
Includes the Stock Option and Incentive Shares Plans previously approved by the Company's security holders. Shares included in column (a) assume the maximum payouts, where applicable, and are as follows: (i) 7,800,902 shares reserved for outstanding stock option awards, (ii) 2,261,700 shares reserved for performance share awards granted in 2018, (iii) 2,375,313 shares reserved for performance share awards granted in 2017,
|
1.
|
The consolidated financial statements and accompanying notes of the Company and subsidiaries and the report thereon of KPMG LLP set forth in Item 8 of this Annual Report on Form 10-K.
|
2.
|
Financial Statement Schedules - All schedules are omitted because they are not required, not applicable or the required information is provided in the financial statements or notes thereto contained in this Annual Report on Form 10-K.
|
3.
|
Exhibits (Listed by numbers corresponding to the Exhibit Table of Item 601 in Regulation S-K).
|
3(a)
|
Restated Articles of Incorporation of Emerson Electric Co.
, incorporated by reference to Emerson Electric Co. Form 10-Q for the quarter ended March 31, 2001, File No. 1-278, Exhibit 3(a);
Termination of Designated Shares of Stock and Certificate of Designation, Preferences and Rights of Series B Junior Participating Preferred Stock
, incorporated by reference to Emerson Electric Co. 1998 Form 10-K, File No. 1-278, Exhibit 3(a).
|
3(b)
|
Bylaws of Emerson Electric Co.
, as amended through June 5, 2018, incorporated by reference to the Company's Form 8-K dated June 5, 2018, filed on June 11, 2018, File No. 1-278, Exhibit 3.1.
|
4(a)
|
Indenture dated as of December 10, 1998, between Emerson Electric Co. and The Bank of New York, Trustee
, incorporated by reference to Emerson Electric Co. 1998 Form 10-K, File No. 1-278, Exhibit 4(b).
|
10(a)*
|
Third Amendment to the Emerson Electric Co. 1993 Incentive Shares Plan, as restated
, incorporated by reference to Emerson Electric Co. 1996 Form 10-K, File No. 1-278, Exhibit 10(g),
|
10(b)*
|
Amended and Restated Emerson Electric Co. Continuing Compensation Plan for Non-Management Directors
, incorporated by reference to Emerson Electric Co. 2007 Form 10-K, File No. 1-278, Exhibit 10(c).
|
10(c)*
|
Amended and Restated Deferred Compensation Plan for Non-Employee Directors and Forms of Payment Election Form, Initial Notice of Election and Notice of Election Change
, incorporated by reference to Emerson Electric Co. 2007 Form 10-K, File No. 1-278, Exhibit 10(d).
|
10(d)*
|
First Amendment to the Emerson Electric Co. Supplemental Executive Retirement Plan
, incorporated by reference to Emerson Electric Co. 1999 Form 10-K, File No. 1-278, Exhibit 10(h), and
Form of Change of Control Election
, incorporated by reference to Emerson Electric Co. Form 8-K dated October 1, 2004, Exhibit 10.9 (applicable only with respect to benefits vested as of December 31, 2004).
|
10(e)*
|
Amended and Restated Emerson Electric Co. Pension Restoration Plan dated October 6, 2015
, incorporated by reference to Emerson Electric Co. 2015 Form 10-K, File No. 1-278, Exhibit 10(e);
Forms of Participation Award Letter, Acceptance of Award and Benefit Election Forms (applicable only with respect to benefits after January 1, 2005)
, incorporated by reference to Emerson Electric Co. 2007 Form 10-K, File No. 1-278, Exhibit 10(f); and Lump Sum Distribution Election Forms.
|
10(f)*
|
Fifth Amendment to the Supplemental Executive Savings Investment Plan
, incorporated by reference to Emerson Electric Co. Form 10-Q for the quarter ended March 31, 1999, File No. 1-278, Exhibit 10(j), and
Form of Participation Agreement and Form of Annual Election
, incorporated by reference to Emerson Electric Co. Form 8-K filed October 1, 2004, Exhibit 10.8 (applicable only with respect to benefits vested as of December 31, 2004).
|
10(g)*
|
Amended and Restated Emerson Electric Co. Savings Investment Restoration Plan and Forms of Participation Agreement, Annual Election Form and Payment Election Form (applicable only with respect to benefits after January 1, 2005)
, incorporated by reference to Emerson Electric Co. 2007 Form 10-K, File No. 1-278, Exhibit 10(h), and
First Amendment to Emerson Electric Co. Savings Investment Restoration Plan
, incorporated by reference to Emerson Electric Co. Form 10-Q for the quarter ended March 31, 2008, File No. 1-278, Exhibit 10.1.
|
10(h)*
|
Amended and Restated Emerson Electric Co. Annual Incentive Plan and Form of Acceptance of Award
, incorporated by reference to Emerson Electric Co. 2007 Form 10-K, File No. 1-278, Exhibit 10(i).
|
10(i)*
|
1997 Incentive Shares Plan
, incorporated by reference to Emerson Electric Co. 1997 Proxy Statement dated December 6, 1996, File No. 1-278, Exhibit A, and
First Amendment thereto
, incorporated by reference to Emerson Electric Co. 2001 Form 10-K, File No. 1-278, Exhibit 10(j),
Amendment for 409A Compliance
, incorporated by reference to Emerson Electric Co. 2007 Form 10-K, File No. 1-278, Exhibit 10(j),
Form of Performance Share Award Certificate, Forms of Acceptance of Award and Change of Control Election
, incorporated by reference to Emerson Electric Co. Form 8-K filed October 1, 2004, Exhibit 10.5, and
Form of Restricted Shares Award Agreement
, incorporated by reference to Emerson Electric Co. Form 8-K filed October 1, 2004, Exhibit 10.6.
|
10(j)*
|
1998 Stock Option Plan
, incorporated by reference to Emerson Electric Co. 1998 Proxy Statement dated December 12, 1997, File No. 1-278, Appendix A, and
Amendment No. 1 thereto
, incorporated by reference to Emerson Electric Co. 2000 Form 10-K, File No. 1-278, Exhibit 10(l),
Form of Notice of Grant of Stock Options and Option Agreement and Form of Incentive Stock Option Agreement
, incorporated by reference to Emerson Electric Co. Form 8-K filed October 1, 2004, Exhibit 10.1, and
Form of Notice of Grant of Stock Options and Option Agreement and Form of Nonqualified Stock Option Agreement
, incorporated by reference to Emerson Electric Co. Form 8-K filed October 1, 2004, Exhibit 10.2.
|
10(k)*
|
2001 Stock Option Plan
, incorporated by reference to Emerson Electric Co. 2002 Proxy Statement dated December 12, 2001, File No. 1-278, Appendix A,
Form of Notice of Grant of Stock Options and Option Agreement and Form of Incentive Stock Option Agreement
, incorporated by reference to Emerson Electric Co. Form 8-K filed October 1, 2004, Exhibit 10.3 (used on or prior to September 30, 2011),
Forms of Notice of Grant of Stock Options, Option Agreement and Incentive Stock Option Agreement
, incorporated by reference to Emerson Electric Co. Form 10-Q for the quarter ended December 31, 2011, File No. 1-278, Exhibit 10.1 (used after September 30, 2011),
Form of Notice of Grant of Stock Options and Option Agreement and Form of Nonqualified Stock Option Agreement
, incorporated by reference to Emerson Electric Co. Form 8-K filed October 1, 2004, Exhibit 10.4 (used on or prior to September 30, 2011),
Forms of Notice of Grant of Stock Options, Option Agreement and Nonqualified Stock Option Agreement,
incorporated by reference to Emerson Electric Co. Form 10-Q for the quarter ended December 31, 2011, File No. 1-278, Exhibit 10.2 (used after September 30, 2011).
|
10(l)*
|
Emerson Electric Co. Description of Split Dollar Life Insurance Program Transition
, incorporated by reference to Emerson Electric Co. Form 8-K filed September 2, 2005, Exhibit 10.1.
|
10(m)*
|
Amended and Restated Restricted Stock Plan for Non-Management Directors
, incorporated by reference to Emerson Electric Co. Form 10-Q for the quarter ended December 31, 2009, File No. 1-278, Exhibit 10.1,
Form of Restricted Stock Award Letter under the Emerson Electric Co. Restricted Stock Plan for Non-Management Directors
, incorporated by reference to Emerson Electric Co. Form 8-K filed February 1, 2005, Exhibit 10.2, and
Form of Restricted Stock Unit Award Letter under the Emerson Electric Co. Restricted Stock Plan for Non-Management Directors
, incorporated by reference to Emerson Electric Co. Form 10-Q for the quarter ended December 31, 2009, File No. 1-278, Exhibit 10.1.
|
10(n)*
|
Description of Non-Management Director Compensation
, incorporated by reference to Emerson Electric Co. Form 10-K filed November 20, 2017, Exhibit 10(n).
|
10(o)*
|
Description of Named Executive Officer Compensation
, incorporated by reference to Emerson Electric Co. Form 10-K filed November 20, 2017, Exhibit 10(o).
|
10(p)*
|
Emerson Electric Co. 2006 Incentive Shares Plan
, incorporated by reference to Emerson Electric Co. 2006 Proxy Statement dated December 16, 2005, Appendix C,
Amendment for 409A Compliance
, incorporated by reference to Emerson Electric Co. 2007 Form 10-K, File No. 1-278, Exhibit 10(q),
Forms of Performance Shares Award Certificate and Acceptance of Award (used on or prior to September 30, 2009) and Restricted Shares Award Agreement (used on or prior to September 30, 2011)
, incorporated by reference to Emerson Electric Co. 2007 Form 10-K, File No. 1-278, Exhibit 10(q),
Amendment to Emerson Electric Co. 2006 Incentive Shares Plan
, incorporated by reference to Emerson Electric Co. Form 10-Q for the quarter ended June 30, 2008, File No. 1-278, Exhibit 10.1,
Forms of Performance Shares Award Certificate, Acceptance of Award and 2010 Performance Shares Program Award Summary
, incorporated by reference to Emerson Electric Co. Form 10-Q for the quarter ended December 31, 2009 (used after September 30, 2009 and on or prior to September 30, 2011), File No. 1-278, Exhibit 10.2,
Forms of Performance Shares Award Certificate and Acceptance of Award
, incorporated by reference to Emerson Electric Co. Form 10-Q for the quarter ended December 31, 2011, File No. 1-278, Exhibit 10.3 (used after September 30, 2011), and
Form of Restricted Shares Award Agreement
, incorporated by reference to Emerson Electric Co. Form 10-Q for the quarter ended December 31, 2011, File No. 1-278, Exhibit 10.4 (used after September 30, 2011).
|
10(q)
|
Credit Agreement dated as of May 23, 2018
, incorporated by reference to Emerson Electric Co. Form 8-K dated May 23, 2018 and filed May 29, 2018, File No. 1-278, Exhibit 10.1.
|
10(r)*
|
2011 Stock Option Plan
, incorporated by reference to Emerson Electric Co. 2011 Proxy Statement dated December 10, 2010, File No. 1-278, Appendix B, 2011
Stock Option Plan as Amended and Restated effective October 1, 2012
, incorporated by reference to Emerson Electric Co. 2012 Form 10-K, File No. 1-278, Exhibit 10(r),
Forms of Notice of Grant of Stock Options, Option Agreement and Incentive Stock Option Agreement under the 2011 Stock Option Plan
, incorporated by reference to Emerson Electric Co. Form 10-Q for the quarter ended March 31, 2012, File No.
|
10(s)*
|
Emerson Electric Co. 2015 Incentive Shares Plan
, incorporated by reference to Emerson Electric Co. 2015 Proxy Statement dated December 12, 2014, Appendix B,
Forms of Performance Shares Award Certificate and Acceptance of Award, Performance Shares Program Award Summary and Form of Restricted Shares Award Agreement
, incorporated by reference to Emerson Electric Co. 2015 Form 10-K, File No. 1-278, Exhibit 10(u).
|
10(t)*
|
Letter Agreement effective as of January 15, 2014 between Emerson Electric Co. and Edgar M. Purvis
, incorporated by reference to Emerson Electric Co. 2015 Form 10-K, File No. 1-278, Exhibit 10(v).
|
10(u)*
|
Letter Agreement dated December 7, 2015 by and between Emerson Electric Co. and Charles A. Peters
, incorporated by reference to Emerson Electric Co. form 10-Q for the quarter ended December 31, 2015, Exhibit 10.1.
|
10(v)*
|
Letter Agreement effective as of January 15, 2014 between Emerson Electric Co. and Steven J. Pelch
, incorporated by reference to Emerson Electric Co. 2016 Form 10-K, File No. 1-278, Exhibit 10(v).
|
10(w)
|
Transaction Agreement dated as of July 29, 2016 among Emerson Electric Co., Cortes NP Holdings, LLC, Cortes NP Acquisition Corporation, ASCO Power Grp, LLC and Cortes NP JV Holdings, LLC
, incorporated by reference to Emerson Electric Co. 2016 Form 10-K, File No. 1-278, Exhibit 10(w).
|
10(x)
|
Share Purchase Agreement by and between Emerson Electric Co. and Pentair plc dated August 18, 2016
, incorporated by reference to Emerson Electric Co. 2016 Form 10-K, File No. 1-278, Exhibit 10(x).
|
10(y)*
|
Letter Agreement, dated November 8, 2017
, by and between Emerson Electric Co. and Edgar M. Purvis, incorporated by reference to the Emerson Electric Co. Form 8-K filed November 14, 2017, File No. 1-278, Exhibit filed 10.1.
|
10(z)*
|
Emerson Electric Co. Savings Investment Restoration Plan II
, incorporated by reference to the Emerson Electric Co. Form 10-Q for the quarter ended June 30, 2018, File No. 1-278, Exhibit filed 10.1.
|
10(aa)*
|
Letter Agreement effective as of October 2, 2018
, by and between Emerson Electric Co. and Edward L. Monser, incorporated by reference to the Emerson Electric Co. Form 8-K filed October 5, 2018, File No. 1-278, Exhibit filed 10.1.
|
21
|
23
|
24
|
31
|
32
|
99.1
|
Description of Capital Stock
incorporated by reference to Emerson Electric Co. 2017 Form 10-K, File No. 1-278, Exhibit 99.1.
|
101
|
Attached as Exhibit 101 to this report are the following documents formatted in XBRL (Extensible Business Reporting Language): (i) Consolidated Statements of Earnings for the years ended
|
|
|
EMERSON ELECTRIC CO.
|
|
|
|
|
|
|
By
|
/s/ F. J. Dellaquila
|
|
|
|
|
|
|
|
F. J. Dellaquila
|
|
|
|
Senior Executive Vice President and
|
|
|
|
Chief Financial Officer
|
|
|
|
November 19, 2018
|
|
Signature
|
|
Title
|
|
|
|
/s/ D. N. Farr
|
|
Chairman of the Board and Chief Executive Officer
|
D. N. Farr
|
|
|
|
|
|
/s/ F. J. Dellaquila
|
|
Senior Executive Vice President and Chief Financial Officer
|
F. J. Dellaquila
|
|
|
|
|
|
/s/ M. J. Baughman
|
|
Vice President, Controller and Chief Accounting Officer
|
M. J. Baughman
|
|
|
|
|
|
*
|
|
Director
|
C. A. H. Boersig
|
|
|
|
|
|
*
|
|
Director
|
J. B. Bolten
|
|
|
|
|
|
*
|
|
Director
|
G. A. Flach
|
|
|
|
|
|
*
|
|
Director
|
A. F. Golden
|
|
|
|
|
|
*
|
|
Director
|
C. Kendle
|
|
|
|
|
|
*
|
|
Director
|
L. Lee
|
|
|
|
|
|
*
|
|
Director
|
M. S. Levatich
|
|
|
|
|
|
*
|
|
Director
|
J. S. Turley
|
|
|
* By
|
/s/
|
F. J. Dellaquila
|
|
|
|
F. J. Dellaquila
|
|
|
|
Attorney-in-Fact
|
|
LEGAL NAME
|
|
|
|
|
JURISDICTION
OF
INCORPORATION
|
||||
Appleton Holding Corp.
|
|
Delaware
|
|||||||
|
EGS Electrical Group Canada Ltd.
|
Ontario
|
|||||||
|
Easy Heat Ltd.
|
Ontario
|
|||||||
ASCO Numatics Holding, Inc.
|
|
Delaware
|
|||||||
Branson Ultrasonic S.A.
|
|
Switzerland
|
|||||||
Bristol, Inc.
|
|
Delaware
|
|||||||
|
Energy Solutions International SAS
|
Colombia
|
|||||||
|
Energy Solutions International Sub, LLC
|
Delaware
|
|||||||
|
|
Energy Solutions International GP, LLC
|
Pennsylvania
|
||||||
|
|
Energy Solutions International Ltd.
|
New Brunswick
|
||||||
|
|
Energy Solutions International Ltd.
|
United Kingdom
|
||||||
|
|
Energy Solutions International (India) Private Limited
|
India
|
||||||
California Emerson LLC
|
|
Delaware
|
|||||||
Computational Systems, Incorporated
|
|
Tennessee
|
|||||||
Cooper-Atkins Corporation
|
|
Connecticut
|
|||||||
|
Cooper-Atkins Pte. Ltd.
|
Singapore
|
|||||||
Control Products, Inc.
|
|
Minnesota
|
|||||||
Daniel Industries, Inc.
|
|
Delaware
|
|||||||
|
Daniel Automation Company
|
Delaware
|
|||||||
|
Daniel Industrial, Inc.
|
Delaware
|
|||||||
|
Daniel International Limited
|
United Kingdom
|
|||||||
|
|
Daniel Europe Limited
|
United Kingdom
|
||||||
|
|
|
Daniel Industries Limited
|
United Kingdom
|
|||||
|
|
|
Spectra-Tek Holdings Limited
|
United Kingdom
|
|||||
|
|
|
Spectra-Tek UK Limited
|
United Kingdom
|
|||||
|
|
|
|
Daniel Measurement Solutions Private Limited
|
India
|
||||
|
|
Spectra-Tek International Limited
|
United Kingdom
|
||||||
|
|
|
Greenfield (UK) Limited
|
United Kingdom
|
|||||
|
Daniel Measurement and Control, Inc.
|
Delaware
|
|||||||
|
|
Daniel Industries Canada Inc.
|
Canada
|
||||||
|
|
Metco Services Venezuela, C.A.
|
Venezuela
|
||||||
|
Danmasa S.A. de C.V.
|
Mexico
|
|||||||
|
Emerson Process Management Valve Automation, Inc.
|
Delaware
|
|||||||
|
|
Bettis Canada Ltd.
|
Canada
|
||||||
|
|
Bettis Holdings Limited
|
United Kingdom
|
||||||
|
|
|
Bettis UK Limited
|
United Kingdom
|
|||||
|
|
RPP, LLC
|
Massachusetts
|
||||||
|
Hytork International Ltd.
|
United Kingdom
|
|||||||
EECO, Inc.
|
|
Delaware
|
|||||||
|
Apple JV Holding Corp.
|
Delaware
|
|||||||
|
|
Appleton Grp LLC
|
Delaware
|
||||||
|
|
|
Appleton Electric LLC
|
Delaware
|
|||||
|
|
|
|
Appleton Electric, S.A. de C.V.
|
Mexico
|
||||
|
|
|
|
EGS Comercializadora Mexico, S. de R.L. de C.V.
|
Mexico
|
||||
|
|
|
|
Nutsteel DHC B.V.
|
Netherlands
|
||||
|
|
|
|
Nutsteel Indústria Metalúrgica Ltda
|
Brazil
|
||||
|
|
|
Appleton Holding Sarl
|
France
|
|
|
|
|
ATX SAS
|
France
|
||||
|
|
|
|
Easy Heat Europe SAS
|
France
|
||||
|
|
|
EGS Mexico S. de R.L. de C.V.
|
Mexico
|
|||||
|
|
|
EGS Private Ltd.
|
Singapore
|
|||||
|
|
|
|
Emerson Hazardous Electrical Equipment (Shanghai) Co., Ltd.
|
China
|
||||
|
|
|
GSEG LLC
|
Delaware
|
|||||
|
|
Easy Heat, Inc.
|
Delaware
|
||||||
|
|
Emersub CV, Inc.
|
Delaware
|
||||||
|
|
|
Flow Control US Holding Corporation
|
Delaware
|
|||||
|
|
|
|
Emerson Automation Solutions Final Control France S.C.A.
|
France
|
||||
|
|
|
|
Vulsub II, LLC
|
Texas
|
||||
|
|
|
|
|
Emerson Automation Solutions Final Control Sales Holding, LLC
|
Delaware
|
|||
|
|
|
|
|
|
Emerson Automation Solutions Final Control, LLC
|
Delaware
|
||
|
|
|
|
|
FC QSF, LLC
|
Delaware
|
|||
|
|
|
|
|
Keystone Asia Pacific Pty Limited
|
Australia
|
|||
|
|
|
|
|
Keystone Canada Co.
|
Canada
|
|||
|
|
|
|
|
Keystone Germany Holdings Corp.
|
Delaware
|
|||
|
|
|
|
|
|
Chemat GmbH Armaturen fur Indstrie-und Nukkeranlage
|
Germany
|
||
|
|
|
|
|
|
Emerson Automation Solutions Final Control de Mexico, S.A. de C.V.
|
Mexico
|
||
|
|
|
|
|
The J.R. Clarkson Company LLC
|
Nevada
|
|||
|
|
|
|
|
|
Crosby Valve, LLC
|
Nevada
|
||
|
|
|
|
|
|
Emerson Automation Solutions Final Control US LP
|
Delaware
|
||
|
|
|
|
|
|
TV&C GP Holding, LLC
|
Nevada
|
||
|
|
|
|
|
Vulsub Chile Holding, LLC
|
Delaware
|
|||
|
|
|
|
|
|
Vulsub Chile SpA
|
Chile
|
||
|
|
|
|
|
Vulsub Holdings A, LLC
|
Delaware
|
|||
|
|
|
|
|
|
Emerson Automation Solutions Final Control (Taiwan) Ltd.
|
Taiwan
|
||
|
|
|
|
|
|
Emerson Automation Solutions Final Control (Thailand) Ltd.
|
Thailand
|
||
|
|
|
|
|
|
Vulsub VZ, C.A.
|
Venezuela
|
||
|
|
|
|
|
Vulsub Holdings B, LLC
|
Delaware
|
|||
|
|
|
|
|
|
Emerson Automation Solutions Final Control Hong Kong Limited
|
Hong Kong
|
||
|
|
|
|
|
|
Emerson Automation Solutions Final Control (Beijing) Co., Ltd.
|
China
|
||
|
|
|
|
|
|
Keystone Valve (Korea) LLC
|
Korea
|
||
|
|
|
|
|
Vulsub Holdings D, LLC
|
Delaware
|
|||
|
|
|
|
|
Vulsub Property Holding, LLC
|
Delaware
|
|||
|
Emerson Climate Technologies, Inc.
|
Delaware
|
|||||||
|
|
Copeland Access +, Inc.
|
Delaware
|
||||||
|
|
Copeland Corporation LLC
|
Delaware
|
||||||
|
|
|
Copeland de Mexico, S.A. de C.V.
|
Mexico
|
|||||
|
|
|
Emerson Climate Technologies (India) Private Limited
|
India
|
|||||
|
|
Copeland Redevelopment Corporation
|
Missouri
|
||||||
|
|
CR Compressors LLC
|
Delaware
|
||||||
|
|
Dixell North America, Inc.
|
Delaware
|
||||||
|
|
Emerson Climate Technologies Retail Solutions, Inc.
|
Delaware
|
||||||
|
|
|
Emerson Climate Services, LLC
|
Delaware
|
|||||
|
|
Scroll Compressors LLC
|
Delaware
|
||||||
|
|
Scroll Mexico LLC
|
Delaware
|
||||||
|
Emerson Electric (U.S.) Holding Corporation
|
Delaware
|
|||||||
|
|
Automatic Switch Company
|
Delaware
|
||||||
|
|
|
ASC Investments, Inc.
|
Delaware
|
|||||
|
|
|
Asco AB
|
Sweden
|
|||||
|
|
|
Asco Controls AG
|
Switzerland
|
|||||
|
|
|
|
Asco Controls B.V.
|
Netherlands
|
||||
|
|
|
|
|
ASCO/JOUCOMATIC s.r.o.
|
Czech Republic
|
|||
|
|
|
|
|
Asco Joucomatic ZA B.V.
|
Netherlands
|
|||
|
|
|
|
|
Asco Magnesszelep Kft.
|
Hungary
|
|||
|
|
|
|
|
Asco Numatics Sp. z o.o.
|
Poland
|
|||
|
|
|
ASCO Japan Co., Ltd.
|
Japan
|
|
|
|
ASCO, L.P.
|
Delaware
|
|||||
|
|
|
|
Emerson (Taiwan) Limited
|
Taiwan
|
||||
|
|
|
Ascomatica S.A. de C.V.
|
Mexico
|
|||||
|
|
|
Ascomation Pty. Ltd.
|
Australia
|
|||||
|
|
|
|
Ascomation (NZ) Ltd.
|
New Zealand
|
||||
|
|
|
ASCO Numatics (India) Private Limited
|
India
|
|||||
|
|
|
Ascotech, S.A. de C.V.
|
Mexico
|
|||||
|
|
|
Ascoval Industria e Commercio Ltda
|
Brazil
|
|||||
|
|
Branson Ultrasonics Corporation
|
Delaware
|
||||||
|
|
|
Branson Korea Co., Ltd.
|
Korea
|
|||||
|
|
|
Branson Ultrasonidos S.A.E.
|
Spain
|
|||||
|
|
|
Branson Ultrasons SAS
|
France
|
|||||
|
|
Emerson Climate Technologies GmbH
|
Germany
|
||||||
|
|
|
Emerson Climate Technologies Limited
|
United Kingdom
|
|||||
|
|
|
Emerson Climate Technologies Refrigeration S.A.
|
Belgium
|
|||||
|
|
|
Emerson Climate Technologies S.A.
|
Spain
|
|||||
|
|
|
Emerson Climate Technologies Sarl
|
France
|
|||||
|
|
|
Emerson Climate Technologies S.R.L.
|
Italy
|
|||||
|
|
|
Gustav Klauke GmbH
|
Germany
|
|||||
|
|
|
|
Klauke Iberia, S.L.
|
Spain
|
||||
|
|
Emerson Dietzenbach GmbH
|
Germany
|
||||||
|
|
Emerson Electric Overseas Finance Corp.
|
Delaware
|
||||||
|
|
Emerson Process Management GmbH
|
Germany
|
||||||
|
|
|
Emerson Process Management GmbH & Co. OHG
|
Germany
|
|||||
|
|
|
|
Aventics Services Germany GmbH
|
Germany
|
||||
|
|
|
|
|
Aventics GmbH
|
Germany
|
|||
|
|
|
|
epro GmbH
|
Germany
|
||||
|
|
|
|
Flow Control Holding Verwaltungs GmbH
|
Germany
|
||||
|
|
|
|
RPP Europe GmbH
|
Germany
|
||||
|
|
|
|
Sempell GmbH
|
Germany
|
||||
|
|
|
|
|
Emerson Automation Solutions Final Control Germany GmbH
|
Germany
|
|||
|
|
|
|
|
Mecafrance (Deutschland) GmbH
|
Germany
|
|||
|
|
|
|
|
SABO-Armaturen Service GmbH
|
Germany
|
|||
|
|
Emerson Retail Services Europe GmbH
|
Germany
|
||||||
|
|
Emerson Technologies Verwaltungs GmbH
|
Germany
|
||||||
|
|
|
Emerson Technologies GmbH & Co. OHG
|
Germany
|
|||||
|
|
Emersub LXXXIV, Inc.
|
Delaware
|
||||||
|
|
Emersub LXXXVI, Inc.
|
Delaware
|
||||||
|
|
EMR Europe Holdings Inc.
|
Delaware
|
||||||
|
|
|
EMR Holdings (France) SAS
|
France
|
|||||
|
|
|
|
ASCO SAS
|
France
|
||||
|
|
|
|
|
Asco Numatics GmbH
|
Germany
|
|||
|
|
|
|
|
Asco Numatics, S.A.
|
Spain
|
|||
|
|
|
|
|
Joucomatic S.A.
|
Belgium
|
|||
|
|
|
|
Francel SAS
|
France
|
||||
|
|
|
|
Generale de Robinetterie Industrielle et de Sytemes de Surete
|
France
|
||||
|
|
|
|
|
Conception et Representation de Technologies de Controle C.R.T. Controle SAS
|
France
|
|||
|
|
|
|
Klauke France SARL
|
France
|
||||
|
|
|
|
Ridgid France SAS
|
France
|
||||
|
|
Ridge Tool GmbH
|
Germany
|
||||||
|
|
|
Ridge Tool GmbH & Co. OHG
|
Germany
|
|||||
|
|
Rosemount Inc.
|
Minnesota
|
||||||
|
|
|
Dieterich Standard, Inc.
|
Delaware
|
|||||
|
|
|
Emerson Industrial Automation USA Inc.
|
Delaware
|
|||||
|
|
|
|
Fincor Holding, LLC
|
Delaware
|
||||
|
|
|
Emerson Process Management AB
|
Sweden
|
|||||
|
|
|
|
Emerson Process Management A/S (Denmark)
|
Denmark
|
||||
|
|
|
Emerson Process Management AS
|
Norway
|
|
|
|
Emerson Process Management Holding AG
|
Switzerland
|
|||||
|
|
|
|
Emerson Process Management AG
|
Switzerland
|
||||
|
|
|
|
|
Emerson LLC
|
Azerbaijan
|
|||
|
|
|
|
|
Emerson LLP
|
Kazakhstan
|
|||
|
|
|
|
|
Emerson Process Management del Peru, S.A.C.
|
Peru
|
|||
|
|
|
|
|
Emerson Process Management Kft.
|
Hungary
|
|||
|
|
|
|
|
Emerson Process Management Romania S.R.L.
|
Romania
|
|||
|
|
|
|
|
Emerson Process Management Sp. z o.o.
|
Poland
|
|||
|
|
|
|
|
|
Emerson Process Management UAB
|
Lithuania
|
||
|
|
|
|
|
Emerson Process Management Ticaret Limited Sirket
|
Turkey
|
|||
|
|
|
|
|
Emerson Process Management, s.r.o.
|
Czech Republic
|
|||
|
|
|
|
|
Emerson Process Management, s.r.o.
|
Slovakia
|
|||
|
|
|
|
|
Emerson TOV
|
Ukraine
|
|||
|
|
|
Emerson Process Management Asia Pacific Private Limited
|
Singapore
|
|||||
|
|
|
|
Emerson Automation Solutions Final Control Singapore Pte. Ltd.
|
Singapore
|
||||
|
|
|
|
|
Emerson Automation Solutions Final Control (Sichuan) Co., Ltd.
|
China
|
|||
|
|
|
|
|
Emerson Automation Solutions Final Control (Shanghai) Co., Ltd.
|
China
|
|||
|
|
|
|
|
PT Emerson Solutions Indonesia
|
Indonesia
|
|||
|
|
|
|
|
Safety Systems UK Pte. Ltd.
|
Singapore
|
|||
|
|
|
|
|
|
Pentair Valves and Controls India Private Limited
|
India
|
||
|
|
|
|
|
Sakhi-Raimondi Valve (India) Limited
|
India
|
|||
|
|
|
|
Emerson Process Management Chennai Private Limited
|
India
|
||||
|
|
|
|
Emerson Process Management Manufacturing (M) Sdn Bhd
|
Malaysia
|
||||
|
|
|
|
Emerson Process Management Valve Automation (M) Sdn Bhd
|
Malaysia
|
||||
|
|
|
|
Spectronix Ltd.
|
Israel
|
||||
|
|
|
|
|
E. Business Development, E.B.D.Com Ltd.
|
Israel
|
|||
|
|
|
|
|
Eurotronics Sistemas de Seguridad S.A.
|
Spain
|
|||
|
|
|
|
|
Fire & Safety Group.Com Ltd.
|
Israel
|
|||
|
|
|
|
|
Novel Environmental Technologies Ltd.
|
Israel
|
|||
|
|
|
|
|
Novel Extinguishing Agent Technology Ltd.
|
Israel
|
|||
|
|
|
|
|
Greenex Ltd.
|
Israel
|
|||
|
|
|
|
|
S.F.T. Group Ltd.
|
Israel
|
|||
|
|
|
|
|
Spectrex, Inc.
|
Connecticut
|
|||
|
|
|
Emerson Process Management Korea Ltd.
|
Korea
|
|||||
|
|
|
Emerson Process Management Oy
|
Finland
|
|||||
|
|
|
Emerson Process Management, S.A. de C.V.
|
Mexico
|
|||||
|
|
|
Emerson Process Management, S.L.
|
Spain
|
|||||
|
|
|
Micro Motion, Inc.
|
Colorado
|
|||||
|
|
|
P I Components Corp.
|
Texas
|
|||||
|
|
|
Rosemount China Inc.
|
Minnesota
|
|||||
|
|
|
Rosemount Nuclear Instruments, Inc.
|
Delaware
|
|||||
|
|
|
Rosemount Specialty Products LLC
|
Delaware
|
|||||
|
Emersub 15 LLC
|
Delaware
|
|||||||
|
Ridge Tool Company
|
Ohio
|
|||||||
|
|
Ridge Tool (Australia) Pty. Ltd.
|
Australia
|
||||||
|
|
Ridge Tool Manufacturing Company
|
Delaware
|
||||||
|
|
Ridge Tool Pattern Company
|
Delaware
|
||||||
|
|
RIDGID, Inc.
|
Delaware
|
||||||
|
|
Ridgid Italia S.R.L.
|
Italy
|
||||||
|
|
Ridgid Online, Inc.
|
Ohio
|
||||||
|
|
Ridgid Werkzeuge AG
|
Switzerland
|
||||||
|
Therm-O-Disc, Incorporated
|
Ohio
|
|||||||
|
|
Componentes Avanzados de Mexico S.A. de C.V.
|
Mexico
|
||||||
|
|
Controles de Temperatura S.A. de C.V.
|
Mexico
|
||||||
E.G.P. Corporation
|
|
Delaware
|
|||||||
Emerald Advanced Technology Limited
|
|
United Kingdom
|
|||||||
Emerson Arabia, Inc.
|
|
Delaware
|
|||||||
|
Emerson Climate Technologies Arabia Limited Co.
|
Saudi Arabia
|
|
Emerson Process Management Arabia Limited
|
Saudi Arabia
|
|||||||
|
Emersub 4 LLC
|
Delaware
|
|||||||
Emerson Climate Technologies Mexico, S.A. de C.V.
|
|
Mexico
|
|||||||
Emerson Electric (Asia) Limited
|
|
Hong Kong
|
|||||||
|
Emerson Electric (South Asia) Pte. Ltd.
|
Singapore
|
|||||||
|
Emerson (Philippines) Corporation
|
Philippines
|
|||||||
Emerson Electric II, C.A.
|
|
Venezuela
|
|||||||
|
Soluciones 0925, C.A.
|
Venezuela
|
|||||||
Emerson Electric International, Inc.
|
|
Delaware
|
|||||||
Emerson Electric Ireland Limited
|
|
Bermuda
|
|||||||
|
Emersub Treasury Ireland Unlimited Company
|
Ireland
|
|||||||
Emerson Electric (Mauritius) Ltd.
|
|
Mauritius
|
|||||||
|
Emerson Electric Company (India) Private Limited
|
India
|
|||||||
|
Westinghouse Electric Pvt. Limited
|
Mauritius
|
|||||||
|
|
Emerson Process Management Power & Water Solutions India Private Limited
|
India
|
||||||
Emerson Finance LLC
|
|
Delaware
|
|||||||
Emerson International Holding Company Limited
|
|
United Kingdom
|
|||||||
|
Aventics Holding S.a.r.l.
|
Luxembourg
|
|||||||
|
|
Aventics AB
|
Sweden
|
||||||
|
|
Aventics AG
|
Switzerland
|
||||||
|
|
Aventics ApS
|
Denmark
|
||||||
|
|
Aventics AS
|
Norway
|
||||||
|
|
Aventics B.V.
|
Netherlands
|
||||||
|
|
Aventics Corporation
|
Delaware
|
||||||
|
|
Aventics GmbH
|
Austria
|
||||||
|
|
Aventics Holding S.A.S.
|
France
|
||||||
|
|
|
Aventics S.A.S.
|
France
|
|||||
|
|
Aventics Hungary Kft
|
Hungary
|
||||||
|
|
Aventics Inc.
|
Canada
|
||||||
|
|
Aventics India Private Limited
|
India
|
||||||
|
|
Aventics Limited
|
United Kingdom
|
||||||
|
|
Aventics Ltd
|
Korea
|
||||||
|
|
Aventics Mexico, S. de R.L. de C.V.
|
Mexico
|
||||||
|
|
Aventics Oy
|
Finland
|
||||||
|
|
Aventics Pneumatics Equipment (Changzhou) Co., Ltd.
|
China
|
||||||
|
|
Aventics Pneumatics Trading (Shanghai) Co., Ltd.
|
China
|
||||||
|
|
Aventics Singapore Pte. Ltd.
|
Singapore
|
||||||
|
|
Aventics Spain, S.L.
|
Spain
|
||||||
|
|
Aventics, spol. s.r.o.
|
Czech Republic
|
||||||
|
|
Aventics Sp. z o.o.
|
Poland
|
||||||
|
|
Aventics S.R.L.
|
Italy
|
||||||
|
Emerson Electric Nederland B.V.
|
Netherlands
|
|||||||
|
|
Aegir Norge Holding AS
|
Norway
|
||||||
|
|
|
Roxar AS
|
Norway
|
|||||
|
|
|
|
PolyOil Limited
|
United Kingdom
|
||||
|
|
|
|
Roxar Flow Measurement AS
|
Norway
|
||||
|
|
|
|
|
Emerson Process Management Nigeria Limited
|
Nigeria
|
|||
|
|
|
|
Roxar Maximum Reservoir Performance W.L.L.
|
Bahrain
|
||||
|
|
|
|
Roxar de Venezuela C.A.
|
Venezuela
|
||||
|
|
|
|
Roxar Saudi Co.
|
Saudi Arabia
|
||||
|
|
|
|
Roxar Services AS
|
Norway
|
||||
|
|
|
|
|
Roxar Services OOO
|
Russia
|
|||
|
|
|
|
|
Roxar Technologies AS
|
Norway
|
|||
|
|
|
|
Roxar Software Solutions AS
|
Norway
|
||||
|
|
|
|
Roxar Vietnam Company Ltd.
|
Vietnam
|
||||
|
|
A.P.M. Automation Solutions Ltd.
|
Israel
|
||||||
|
|
Damcos Holding A/S
|
Denmark
|
||||||
|
|
|
Damcos A/S
|
Denmark
|
|
|
|
|
Emerson Process Management Marine Solutions Korea Co., Ltd.
|
Korea
|
||||
|
|
|
|
Emerson Process Management Marine Systems (Shanghai) Co., Ltd.
|
China
|
||||
|
|
Emerson Automation Solutions Final Control Netherlands B.V.
|
Netherlands
|
||||||
|
|
Emerson Electric Company Lanka (Private) Limited
|
Sri Lanka
|
||||||
|
|
Emerson LLC
|
Russia
|
||||||
|
|
Emerson Network Power DHC B.V.
|
Netherlands
|
||||||
|
|
|
Beckman Industrial B.V.
|
Netherlands
|
|||||
|
|
|
Branson Ultrasonics B.V.
|
Netherlands
|
|||||
|
|
|
Electrische Apparatenfabriek Capax B.V.
|
Netherlands
|
|||||
|
|
|
El-O-Matic B.V.
|
Netherlands
|
|||||
|
|
|
|
El-O-Matic Valve Actuators (F.E.) Pte. Ltd.
|
Singapore
|
||||
|
|
|
|
Emerson Process Management (South Africa) (Proprietary) Ltd.
|
South Africa
|
||||
|
|
|
EMRSN HLDG B.V.
|
Netherlands
|
|||||
|
|
|
|
Emerson Process Management Flow B.V.
|
Netherlands
|
||||
|
|
|
Emerson Process Management B.V.
|
Netherlands
|
|||||
|
|
|
Fusite B.V.
|
Netherlands
|
|||||
|
|
|
System Plast International B.V.
|
Netherlands
|
|||||
|
|
|
Therm-O-Disc Europe B.V.
|
Netherlands
|
|||||
|
|
Emerson S.R.L.
|
Romania
|
||||||
|
|
EMERSON CLIMATE TECHNOLOGIES, s.r.o.
|
Czech Republic
|
||||||
|
|
Emerson Process Management (Vietnam) Co., Ltd.
|
Vietnam
|
||||||
|
Emerson Sice S.R.L.
|
Italy
|
|||||||
|
|
Asco Numatics Sirai S.R.L.
|
Italy
|
||||||
|
|
Branson Ultrasuoni S.R.L.
|
Italy
|
||||||
|
|
Dixell S.R.L.
|
Italy
|
||||||
|
|
Emerson Climate Technologies Retail Solutions Europe S.R.L.
|
Italy
|
||||||
|
|
Emerson Process Management S.R.L.
|
Italy
|
||||||
|
|
|
Emerson Process Management Virgo Valves S.R.L.
|
Italy
|
|||||
|
|
Vulsub Italia S.r.l.
|
Italy
|
||||||
|
|
|
Biffi Italia S.r.l.
|
Italy
|
|||||
|
|
|
Emerson Automation Solutions Final Control Italia S.r.l.
|
Italy
|
|||||
|
Greenlee Communications Limited
|
United Kingdom
|
|||||||
|
|
Klauke UK Ltd
|
United Kingdom
|
||||||
|
Klauke Handelsgesellschaft mbH
|
Austria
|
|||||||
|
Klauke Polska Sp. z.o.o.
|
Poland
|
|||||||
|
Klauke Slovakia s.r.o.
|
Slovakia
|
|||||||
|
Paradigm B.V.
|
Netherlands
|
|||||||
|
|
AGI Mexicana S.A. de C.V.
|
Mexico
|
||||||
|
|
Paradigm France S.A.
|
France
|
||||||
|
|
Paradigm Geophysical B.V.
|
Netherlands
|
||||||
|
|
|
Paradigm Geophysical de Venezuela C.A.
|
Venezuela
|
|||||
|
|
|
Paradigm Geophysical do Brasil Ltda.
|
Brazil
|
|||||
|
|
|
Paradigm Geophysical Italy SRL
|
Italy
|
|||||
|
|
|
Paradigm Geophysical LLC
|
Russia
|
|||||
|
|
|
Paradigm Geophysical (Nigeria) Limited
|
Nigeria
|
|||||
|
|
|
Paradigm Geophysical S.A.
|
Argentina
|
|||||
|
|
|
Paradigm Geophysical Sdn. Bhd.
|
Malaysia
|
|||||
|
|
|
|
Paradigm Geophysical (KL) Sdn. Bhd.
|
Malaysia
|
||||
|
|
|
Paradigm Geophysical Spain S.L.
|
Spain
|
|||||
|
|
|
Paradigm Geotechnology (Egypt) S.A.E.
|
Egypt
|
|||||
|
|
|
Paradigm Kazakhstan LLP
|
Kazakhstan
|
|||||
|
|
|
Paradigm Middle East FZ-LLC
|
United Arab Emirates
|
|||||
|
|
Paradigm Geophysical (India) Private Limited
|
India
|
||||||
|
|
Paradigm Geophysical Limited
|
Israel
|
||||||
|
|
Paradigm Geoservices Canada Ltd.
|
Canada
|
||||||
|
|
Paradigm Technology (Beijing) Co., Ltd.
|
China
|
||||||
|
|
Paradigm (UK) Holding Limited
|
United Kingdom
|
||||||
|
|
|
Paradigm Geophysical Pty Ltd
|
Australia
|
|
|
|
|
PT. Paradigm Geophysical Indonesia
|
Indonesia
|
||||
|
|
|
Paradigm Geophysical (U.K.) Limited
|
United Kingdom
|
|||||
Emerson Middle East, Inc.
|
|
Delaware
|
|||||||
Emerson Paradigm Holding LLC
|
|
Delaware
|
|||||||
Emerson Process Management SAS
|
|
France
|
|||||||
|
Emerson Process Management, Lda
|
Portugal
|
|||||||
Emerson Ventures Inc.
|
|
Delaware
|
|||||||
Emerson Vulcan Holding LLC
|
|
Delaware
|
|||||||
Emersub 3 LLC
|
|
Delaware
|
|||||||
EMR
|
|
Delaware
|
|||||||
|
Vilter Manufacturing LLC
|
Wisconsin
|
|||||||
Emersub 16 LLC
|
|
Delaware
|
|||||||
Emersub CII, Inc.
|
|
Delaware
|
|||||||
Emersub CIV, Inc.
|
|
Delaware
|
|||||||
Emersub XLVI, Inc.
|
|
Nevada
|
|||||||
|
Copesub, Inc.
|
Delaware
|
|||||||
|
|
Alliance Compressors LLC
|
Delaware
|
||||||
Emersub Italia S.R.L.
|
|
Italy
|
|||||||
|
International Gas Distribution SA
|
Luxembourg
|
|||||||
|
O.M.T. Officina Meccanica Tartarini S.R.L.
|
Italy
|
|||||||
EMR Foundation, Inc.
|
|
Missouri
|
|||||||
EMR Holdings, Inc.
|
|
Delaware
|
|||||||
|
Branson de Mexico, S.A. de C.V.
|
Mexico
|
|||||||
|
Chloride Koexa S.A.
|
Argentina
|
|||||||
|
Copeland Compresores Hermeticos, S.A. de C.V.
|
Mexico
|
|||||||
|
Dar Ibtikar Al Iraq for General Services and General Trade LLC
|
Iraq
|
|||||||
|
Emerson Argentina S.A.
|
Argentina
|
|||||||
|
Emerson Automation Solutions GmbH
|
Switzerland
|
|||||||
|
Emerson Automation Solutions Isolation Valves, Inc.
|
Delaware
|
|||||||
|
Emerson Climate Technologies Australia Pty. Ltd.
|
Australia
|
|||||||
|
Emerson Dominicana, Srl
|
Dominican Republic
|
|||||||
|
Emerson Electric (U.S.) Holding Corporation (Chile) Limitada
|
Chile
|
|||||||
|
Emerson Electric C.R. Srl
|
Costa Rica
|
|||||||
|
Emerson Electric de Mexico S.A. de C.V.
|
Mexico
|
|||||||
|
Emerson Electric Holdings (Switzerland) GmbH
|
Switzerland
|
|||||||
|
|
ALCO CONTROLS, spol. s.r.o.
|
Czech Republic
|
||||||
|
|
Emerson Process Management Co., Ltd.
|
China
|
||||||
|
|
EMR Emerson Holdings (Switzerland) GmbH
|
Switzerland
|
||||||
|
|
|
Emerson Climate Technologies - Transportation Solutions ApS
|
Denmark
|
|||||
|
|
|
Emerson Process Management Qatar W.L.L.
|
Qatar
|
|||||
|
|
|
EMR (Asia) Limited
|
Hong Kong
|
|||||
|
|
|
|
Emerson Electric (China) Holdings Co., Ltd.
|
China
|
||||
|
|
|
|
|
ASCO Valve (Shanghai) Co., Ltd.
|
China
|
|||
|
|
|
|
|
Beijing Rosemount Far East Instrument Co., Ltd.
|
China
|
|||
|
|
|
|
|
Branson Ultrasonics (Shanghai) Co., Ltd.
|
China
|
|||
|
|
|
|
|
Emerson Beijing Instrument Co. Ltd.
|
China
|
|||
|
|
|
|
|
Emerson Climate Technologies (Shanghai) Co., Ltd.
|
China
|
|||
|
|
|
|
|
Emerson Climate Technologies (Shenyang) Refrigeration Co., Ltd.
|
China
|
|||
|
|
|
|
|
Emerson Climate Technologies - Solutions (Suzhou) Co., Ltd.
|
China
|
|||
|
|
|
|
|
Emerson Climate Technologies (Suzhou) Co., Ltd.
|
China
|
|||
|
|
|
|
|
Emerson Climate Technologies (Suzhou) Trading Co., Ltd.
|
China
|
|||
|
|
|
|
|
Emerson Electric (Tongling) Co., Ltd.
|
China
|
|||
|
|
|
|
|
Emerson Electric (Zhuhai) Co., Ltd.
|
China
|
|||
|
|
|
|
|
Emerson Fusite Electric (Shenzhen) Co. Ltd.
|
China
|
|||
|
|
|
|
|
Emerson InSinkErator Appliance (Nanjing) Co., Ltd.
|
China
|
|||
|
|
|
|
|
Emerson Junkang Enterprise (Shanghai) Co., Ltd.
|
China
|
|||
|
|
|
|
|
Emerson Machinery Equipment (Shenzhen) Co., Ltd.
|
China
|
|||
|
|
|
|
|
Emerson Process Management Flow Technologies Co., Ltd.
|
China
|
|
|
|
|
|
ENPDOR2012A Limited
|
United Kingdom
|
|||
|
|
|
|
|
Liebert Swindon Limited
|
United Kingdom
|
|||
|
|
|
|
Emerson Energy Systems (UK) Limited
|
United Kingdom
|
||||
|
|
|
|
Emerson Process Management Limited
|
United Kingdom
|
||||
|
|
|
|
|
Emerson Process Management Distribution Limited
|
United Kingdom
|
|||
|
|
|
|
|
Emerson Process Management Shared Services Limited
|
United Kingdom
|
|||
|
|
|
|
|
Groveley Detection Limited
|
United Kingdom
|
|||
|
|
|
|
|
K Controls Limited
|
United Kingdom
|
|||
|
|
|
|
|
METCO Services Limited
|
United Kingdom
|
|||
|
|
|
|
|
Permasense Limited
|
United Kingdom
|
|||
|
|
|
|
|
|
Permasense Americas, Inc.
|
Texas
|
||
|
|
|
|
|
|
Permasense Asia Pacific Sdn Bhd
|
Malaysia
|
||
|
|
|
|
|
Roxar Limited
|
United Kingdom
|
|||
|
|
|
|
|
|
Energy Scitech Ltd.
|
United Kingdom
|
||
|
|
|
|
|
|
Roxar Flow Measurement Limited
|
United Kingdom
|
||
|
|
|
|
|
TopWorx UK Limited
|
United Kingdom
|
|||
|
|
|
|
Emerson UK Trustees Limited
|
United Kingdom
|
||||
|
|
|
|
MDC Technology Limited
|
United Kingdom
|
||||
|
|
|
|
|
MDC Technology Trustees Limited
|
United Kingdom
|
|||
|
|
|
|
Mobrey Group Limited
|
United Kingdom
|
||||
|
|
|
|
|
Rosemount Measurement Limited
|
United Kingdom
|
|||
|
|
|
|
|
|
Cascade Technologies Holdings Limited
|
Scotland
|
||
|
|
|
|
|
|
|
Cascade Technologies Limited
|
Scotland
|
|
|
|
|
|
Pactrol Controls Limited
|
United Kingdom
|
||||
|
EMR Worldwide B.V.
|
Netherlands
|
|||||||
|
|
Emerson DHC B.V.
|
Netherlands
|
||||||
|
|
|
Emerson Electric do Brasil Ltda
|
Brazil
|
|||||
|
|
|
|
System Plast Ltda
|
Brazil
|
||||
|
|
|
Emerson Electric (Thailand) Limited
|
Thailand
|
|||||
|
|
|
Emerson Process Management Ltda
|
Brazil
|
|||||
|
|
|
Emerson Scroll Machining (Thailand) Limited
|
Thailand
|
|||||
|
|
|
Emersub 7 LLC
|
Delaware
|
|||||
|
|
|
Emersub 8 LLC
|
Delaware
|
|||||
|
|
|
Emersub 9 LLC
|
Delaware
|
|||||
|
|
|
Emersub 10 LLC
|
Delaware
|
|||||
|
|
|
Emersub 11 LLC
|
Delaware
|
|||||
|
|
|
Emersub 12 LLC
|
Delaware
|
|||||
|
|
|
EMR (Mauritius) Ltd.
|
Mauritius
|
|||||
|
|
Emerson Electric Canada Limited
|
Canada
|
||||||
|
|
Emerson Holding Sweden AB
|
Sweden
|
||||||
|
|
|
Emerson Sweden AB
|
Sweden
|
|||||
|
|
Emerson USD Finance Company Limited
|
United Kingdom
|
||||||
|
|
Emerson Final Control Canada, Inc.
|
Canada
|
||||||
|
|
Emerson Mexico Finance, S.A. de C.V., SOFOM, ENR
|
Mexico
|
||||||
|
|
Net Safety Monitoring Inc.
|
Canada
|
||||||
|
|
Rutherfurd Acquisitions Limited
|
United Kingdom
|
||||||
|
|
|
Branson Ultrasonics a.s.
|
Slovakia
|
|||||
|
|
|
Emerson Automation Solutions Final Control Africa (Pty) Ltd
|
South Africa
|
|||||
|
|
|
|
Vulsub South Africa (Pty) Ltd
|
South Africa
|
||||
|
|
|
Emerson Automation Solutions Final Control Czech s.r.o.
|
Czech Republic
|
|||||
|
|
|
Emerson Automation Solutions Final Control Polska Sp. z o.o.
|
Poland
|
|||||
|
|
|
Emerson Automation Solutions Final Control South Africa (Pty) Ltd
|
South Africa
|
|||||
|
|
|
Emerson Climate Technologies (South Africa) (Pty) Ltd
|
South Africa
|
|||||
|
|
|
Emerson Comres de Mexico, S. de R.L. de C.V.
|
Mexico
|
|||||
|
|
|
Emerson Electric Ireland Limited
|
Ireland
|
|||||
|
|
|
Emerson Process Management de Colombia SAS
|
Colombia
|
|||||
|
|
|
Emerson Process Management d.o.o.
|
Croatia
|
|||||
|
|
|
Emerson Process Management (India) Private Limited
|
India
|
|
|
|
|
Shanghai Virgo Valves Technology Consulting Co., Ltd.
|
China
|
||||
|
|
|
Emerson Process Management S.A.
|
Greece
|
|||||
|
|
|
Emerson Valves & Controls Japan Co., Ltd.
|
Japan
|
|||||
|
|
|
Pentair Valves & Controls Argentina S.A.
|
Argentina
|
|||||
|
|
|
Taiwan Valve Co., Ltd.
|
Taiwan
|
|||||
|
|
|
Vulsub Brasil Holding S.a.r.l.
|
Luxembourg
|
|||||
|
|
|
|
Vulsub Brasil Ltda.
|
Brazil
|
||||
|
|
|
|
Westlock Equipamentos de Controle Ltda.
|
Brazil
|
||||
|
|
|
|
|
Hiter Industria e Comercia de Controles Termo-Hidraulicos Ltda.
|
Brazil
|
|||
|
|
|
Vulsub Holding III (Denmark) ApS
|
Denmark
|
|||||
|
|
|
|
Emerson Automation Solutions Final Control Denmark A/S
|
Denmark
|
||||
|
|
|
Vulsub Holding Ltd
|
Isle of Man
|
|||||
|
|
|
|
Emerson Automation Solutions SSC UK Limited
|
United Kingdom
|
||||
|
|
|
|
|
Emerson Automation Solutions Final Control UK II Ltd
|
United Kingdom
|
|||
|
|
|
|
|
Emerson Automation Solutions Final Control UK Ltd
|
United Kingdom
|
|||
|
|
|
|
|
Emerson Sales UK Limited
|
United Kingdom
|
|||
|
|
|
|
|
Keystone Valve (U.K.) Limited
|
United Kingdom
|
|||
|
|
|
|
|
Vulsub 1 Limited
|
United Kingdom
|
|||
|
|
|
|
|
Vulsub Property Limited
|
United Kingdom
|
|||
|
|
|
|
|
|
Hindle Cockburns Limited
|
United Kingdom
|
||
|
|
|
|
|
|
Spensall Engineering Limited
|
United Kingdom
|
||
|
|
|
|
|
|
Steel Support Systems Limited
|
United Kingdom
|
||
|
|
|
|
|
Westlock Controls Limited
|
United Kingdom
|
|||
|
|
|
Vulsub Holdings C, LLC
|
Delaware
|
|||||
|
|
|
|
Emerson Automation Solutions Final Control Malaysia Sdn. Bhd.
|
Malaysia
|
||||
|
|
|
Vulsub Middle East Holdings, LLC
|
Delaware
|
|||||
|
|
|
|
Emerson Automation Solutions Final Control Middle East FZE
|
United Arab Emirates
|
||||
|
|
|
|
Vulsub Gulf Holding Limited
|
United Arab Emirates
|
||||
|
|
|
|
|
Emirates Techno Casting FZE
|
United Arab Emirates
|
|||
|
|
|
|
|
ETC International Holdings, Ltd.
|
British Virgin Islands
|
|||
|
|
|
|
|
|
Emirates Techno Casting Holding Limited
|
United Arab Emirates
|
||
|
|
|
|
|
|
|
Emirates Techno Casting LLC
|
United Arab Emirates
|
|
|
|
|
|
|
Gulf Valve FZE
|
United Arab Emirates
|
|||
|
|
|
|
|
JCF Fluid Flow India Private Limited
|
India
|
|||
|
|
|
Vulsub Peru S.A.C.
|
Peru
|
|||||
|
F-R Tecnologias de Flujo, S.A. de C.V.
|
Mexico
|
|||||||
|
NetworkPower Ecuador S.A.
|
Ecuador
|
|||||||
|
PT. Emerson Indonesia
|
Indonesia
|
|||||||
|
RAC Technologies (Israel) Ltd.
|
Israel
|
|||||||
|
Rey-Lam, S. de R.L. de C.V.
|
Mexico
|
|||||||
|
Termotec de Chihuahua, S.A. de C.V.
|
Mexico
|
|||||||
|
Tranmet Holdings Limited
|
United Kingdom
|
|||||||
|
|
Tranmet Holdings B.V.
|
Netherlands
|
||||||
|
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Industrial Group Metran JSC
|
Russia
|
|||||
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|
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Metran-Export CJSC
|
Russia
|
||||
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|
|
TDM-avtomatizatsiya
|
Russia
|
||||
Endura Holding Limited
|
|
Hong Kong
|
|||||||
|
Endura-Greenlee Tools (Shanghai) Co., Ltd.
|
China
|
|||||||
ENPESNA, Inc.
|
|
Delaware
|
|||||||
EPMCO Holdings, Inc.
|
|
Delaware
|
|||||||
|
Emerson Process Management Regulator Technologies, Inc.
|
Delaware
|
|||||||
|
|
Fromex, S.A. de C.V.
|
Mexico
|
||||||
|
Fisher Controls International LLC
|
Delaware
|
|||||||
|
|
Emerson Process Management Australia Pty Limited
|
Australia
|
||||||
|
|
|
Emerson Automation Solutions Final Control Australia Pty Limited
|
Australia
|
|||||
|
|
|
|
Emerson Automation Solutions Final Control Sales Australia Pty Limited
|
Australia
|
||||
|
|
|
Emerson Process Management New Zealand Limited
|
New Zealand
|
|||||
|
|
|
Vulsub SSC Australia Pty Limited
|
Australia
|
|
|
Fisher Controles de Mexico, S.A. de C.V.
|
Mexico
|
||||||
|
|
Instrument & Valve Services Company
|
Delaware
|
||||||
|
|
Nippon Fisher Co., Ltd.
|
Japan
|
||||||
|
Fisher-Rosemount Systems, Inc.
|
Delaware
|
|||||||
|
|
Emerson Process Management Holding LLC
|
Delaware
|
||||||
|
|
Emerson Process Management LLLP
|
Delaware
|
||||||
|
|
Emerson Process Management Power & Water Solutions, Inc.
|
Delaware
|
||||||
EPM Tulsa Holdings Corp.
|
|
Delaware
|
|||||||
|
Emerson Process Management Regulator Technologies Tulsa, LLC
|
Oklahoma
|
|||||||
Fiberconn Assemblies Morocco Sarl
|
|
Morocco
|
|||||||
Fusite Corporation
|
|
Ohio
|
|||||||
|
Emerson Japan, Ltd.
|
Japan
|
|||||||
Fusite Land Company
|
|
Delaware
|
|||||||
General Equipment and Manufacturing Company, Inc.
|
Kentucky
|
||||||||
GeoFields, Inc.
|
|
Georgia`
|
|||||||
Greenlee Tools, Inc.
|
|
Delaware
|
|||||||
|
HD Electric Company
|
Illinois
|
|||||||
|
Sherman + Reilly, Inc.
|
Tennessee
|
|||||||
Hiross India Private Limited
|
|
India
|
|||||||
Humboldt Hermetic Motor Corp.
|
|
Delaware
|
|||||||
|
Woodstock Land Company LLC
|
Missouri
|
|||||||
Intrinsic Safety Equipment of Texas, Inc.
|
|
Texas
|
|||||||
Locus Solutions, LLC
|
|
Wisconsin
|
|||||||
|
Locus Traxx Worldwide Europe BVBA
|
Belgium
|
|||||||
Management Resources Group, Inc.
|
|
Connecticut
|
|||||||
Motores Hermeticos del Sur, S.A. de C.V.
|
|
Mexico
|
|||||||
PakSense, Inc.
|
|
Delaware
|
|||||||
|
PakSense South America SpA
|
Chile
|
|||||||
Paradigm Geophysical Corp.
|
|
Delaware
|
|||||||
ProTeam, Inc.
|
|
Idaho
|
|||||||
Ridge Tool Europe NV
|
|
Belgium
|
|||||||
|
Ridgid Scandinavia A/S
|
Denmark
|
|||||||
|
Von Arx AG
|
Switzerland
|
|||||||
|
|
Von Arx GmbH
|
Germany
|
||||||
Rosemount Tank Gauging North America Inc.
|
|
Texas
|
|||||||
System Plast USA de Mexico, S. de R.L. de C.V.
|
|
Mexico
|
|||||||
Termocontroles de Juarez, S.A. de C.V.
|
|
Mexico
|
|||||||
Tescom Corporation
|
|
Minnesota
|
|||||||
|
Tescom Europe Management GmbH
|
Germany
|
|||||||
|
|
Tescom Europe GmbH & Co. KG
|
Germany
|
||||||
Thunderline Z, Inc.
|
|
Delaware
|
Signature
|
|
Title
|
|
|
|
|
|
/s/
|
D. N. Farr
|
|
Chairman of the Board and Chief Executive Officer
|
|
D. N. Farr
|
|
|
|
|
|
|
/s/
|
F. J. Dellaquila
|
|
Senior Executive Vice President and Chief Financial Officer
|
|
F. J. Dellaquila
|
|
|
|
|
|
|
/s/
|
M. J. Baughman
|
|
Vice President, Controller and Chief Accounting Officer
|
|
M. J. Baughman
|
|
|
|
|
|
|
/s/
|
C. A. H. Boersig
|
|
Director
|
|
C. A. H. Boersig
|
|
|
|
|
|
|
/s/
|
J. B. Bolten
|
|
Director
|
|
J. B. Bolten
|
|
|
|
|
|
|
/s/
|
G. A. Flach
|
|
Director
|
|
G. A. Flach
|
|
|
|
|
|
|
/s/
|
A. F. Golden
|
|
Director
|
|
A. F. Golden
|
|
|
|
|
|
|
/s/
|
C. Kendle
|
|
Director
|
|
C. Kendle
|
|
|
|
|
|
|
/s/
|
L. M. Lee
|
|
Director
|
|
L. M. Lee
|
|
|
|
|
|
|
/s/
|
M. S. Levatich
|
|
Director
|
|
M. S. Levatich
|
|
|
|
|
|
|
/s/
|
J. S. Turley
|
|
Director
|
|
J. S. Turley
|
|
|
Date:
|
November 19, 2018
|
/s/ D. N. Farr
|
|
|
D. N. Farr
|
|
|
Chairman of the Board and
|
|
|
Chief Executive Officer
|
|
|
Emerson Electric Co.
|
Date:
|
November 19, 2018
|
/s/ F. J. Dellaquila
|
|
|
F. J. Dellaquila
|
|
|
Senior Executive Vice President and
|
|
|
Chief Financial Officer
|
|
|
Emerson Electric Co.
|
(1)
|
The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
|
(2)
|
The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
|
|
/s/
|
D. N. Farr
|
|
|
D. N. Farr
|
|
|
Chairman of the Board and
|
|
|
Chief Executive Officer
|
|
|
Emerson Electric Co.
|
|
|
November 19, 2018
|
(1)
|
The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
|
(2)
|
The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
|
|
/s/
|
F. J. Dellaquila
|
|
|
F. J. Dellaquila
|
|
|
Senior Executive Vice President and
|
|
|
Chief Financial Officer
|
|
|
Emerson Electric Co.
|
|
|
November 19, 2018
|