UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_________________________________________

FORM 10-Q

_________________________________________

(Mark One)


☒			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarterly Period Ended ~~June~~December 3031, 2025


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Transition Period from _______ to _______

Commission file number 1-12383

_________________________________________

Rockwell Automation, Inc.

(Exact name of registrant as specified in its charter)

_________________________________________


Delaware		25-1797617
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

1201 South Second Street
Milwaukee,	Wisconsin	53204
(Address of principal executive offices)		(Zip Code)

+1 (414) 382-2000

(Registrant’s telephone number, including area code)

Not Applicable

(Former name, former address and former fiscal year, if changed since last report)

_________________________________________

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol

Name of each exchange on which registered

Common Stock ($1.00 par value)

ROK

New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

☑

Accelerated filer

☐

Non-accelerated filer

☐

Smaller reporting company

☐

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☑

112,~~434~~357,~~397~~908 shares of registrant’s Common Stock were outstanding on ~~June~~December 3031, 2025.

Table of Contents

INDEX

			Page No.
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements
Consolidated Balance Sheet			4
Consolidated Statement of Operations			5
Consolidated Statement of Comprehensive Income			6
Consolidated Statement of Cash Flows			7
Consolidated Statement of Shareowners' Equity			8
Notes to Consolidated Financial Statements			109
Report of Independent Registered Public Accounting Firm (PCAOB ID No. 34)			2625
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations			2726
Item 3. Quantitative and Qualitative Disclosures About Market Risk			4239
Item 4. Controls and Procedures			4239
PART II. OTHER INFORMATION
Item 1. Legal Proceedings			4340
Item 1A. Risk Factors			4340
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds			4340
Item 5. Other Information			4441
Item 6. Exhibits			4542
Signatures			4643

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

ROCKWELL AUTOMATION, INC.

CONSOLIDATED BALANCE SHEET

(Unaudited)

(in millions, except per share amounts)

	June 30,2025		September 30,2024
	December 31,2025		September 30,2025
ASSETS
Current assets
Cash and cash equivalents	$	~~495~~444	$	~~471~~468
Receivables	1,~~867~~773		1,~~802~~931
Inventories	1,~~253~~218		1,~~293~~247
Other current assets	296		~~315~~265
Total current assets	3,911		3,881
Current assets held for sale	258		—
Property, net of accumulated depreciation of $1,959 and $1,861, respectively	761		777
Total current assets	3,989		3,911
Operating lease right-of-use assets	387		423
Property, net of accumulated depreciation of $2,017 and $1,997, respectively	831		797
Goodwill	4,002		3,993
Operating lease right-of-use assets	362		403
Other intangible assets, net	966		1,066
Goodwill	3,852		3,839
Deferred income taxes	550		517
Other intangible assets, net	775		864
Other assets	616		575
Deferred income taxes	596		596
Total	$	11,193	$	11,232
Other assets	825		809
Total	$	11,230	$	11,219
LIABILITIES AND SHAREOWNERS’ EQUITY
Current liabilities
Short-term debt	$	~~846~~762	$	~~771~~608
Current portion of long-term debt	264		~~307~~2
Accounts payable	~~840~~774		~~860~~930
Compensation and benefits	~~349~~305		~~259~~432
Contract liabilities	~~648~~617		~~584~~621
Customer returns, rebates and incentives	361		347
Customer returns, rebates, and incentives	335		347
Other current liabilities	~~644~~530		~~476~~505
Total current liabilities	3,690		3,604
Current liabilities related to assets held for sale	65		—
Long-term debt	2,617		2,561
Total current liabilities	3,452		3,445
Retirement benefits	558		549
Long-term debt	2,574		2,614
Operating lease liabilities	318		356
Retirement benefits	407		406
Other liabilities	382		487
Operating lease liabilities	284		329
Commitments and contingent liabilities (Note 13)
Other liabilities	713		714
Commitments and contingent liabilities (Note 12)
Shareowners’ equity
Common stock ($1.00 par value, shares issued: 141.4 and 181.4, respectively)	141		181
Common stock ($1.00 par value, shares issued: 141.4)	141		141
Additional paid-in capital	2,~~258~~296		2,~~188~~283
Retained earnings	5,~~284~~571		95,~~635~~422
Accumulated other comprehensive loss	(~~737~~624)		(~~772~~657)
Common stock in treasury, at cost (shares held: 29.0 and 68.3, respectively)	(3,483)		(7,734)
Common stock in treasury, at cost (shares held: 29.0 and 29.0, respectively)	(3,638)		(3,535)
Shareowners’ equity attributable to Rockwell Automation, Inc.	3,~~463~~746		3,~~498~~654
Noncontrolling interests	~~165~~54		~~177~~57
Total shareowners’ equity	3,~~628~~800		3,~~675~~711
Total	$	11,~~193~~230	$	11,~~232~~219

See Notes to Consolidated Financial Statements.

Table of Contents

CONSOLIDATED STATEMENT OF OPERATIONS

(Unaudited)

(in millions, except per share amounts)

	Three Months EndedJune 30,				Nine Months EndedJune 30,
	Three Months EndedDecember 31,
	2025		2024		~~2025~~		~~2024~~
Sales
Products and solutions	$	1,~~897~~867	$	1,~~810~~639	$	~~5,301~~	$	~~5,534~~
Services	~~247~~238		~~241~~242		~~725~~		~~695~~
	2,144		2,051		6,026		6,229
	2,105		1,881
Cost of sales
Products and solutions	(~~1,128~~965)		(~~1,121~~873)		~~(3,213)~~		~~(3,416)~~
Services	(~~140~~124)		(~~135~~130)		~~(405)~~		~~(390)~~
	(1,268)		(1,256)		(3,618)		(3,806)
	(1,089)		(1,003)
Gross profit	~~876~~1,016		~~795~~878		~~2,408~~		~~2,423~~
Selling, general and administrative expenses	(~~498~~478)		(~~501~~476)		~~(1,443)~~		~~(1,516)~~
Change in fair value of investments	—		(5)		(3)		1
Engineering and development	(172)		(156)
Other income (Note 11)	5		7		11		31
Other income (Note 10)	8		6
Interest expense	(4132)		(4139)		~~(119)~~		~~(114)~~
Income before income taxes	342		~~255~~213		~~854~~		~~825~~
Income tax provision (Note 15)	(49)		(24)		(135)		(116)
Income tax provision (Note 14)	(40)		(35)
Net income	~~293~~302		~~231~~178		~~719~~		~~709~~
Net loss attributable to noncontrolling interests	(23)		(16)		~~(12)~~		~~(4)~~
Net income attributable to Rockwell Automation, Inc.	$	~~295~~305	$	~~232~~184	$	~~731~~	$	~~713~~
Earnings per share:
Basic	$	2.6171	$	21.0362	$	~~6.45~~	$	~~6.22~~
Diluted	$	2.6069	$	21.0261	$	~~6.43~~	$	~~6.19~~
Weighted average outstanding shares:
Basic	112.53		113.70		~~112.8~~		~~114.2~~
Diluted	~~113~~112.09		~~114~~113.25		~~113.2~~		~~114.7~~

See Notes to Consolidated Financial Statements.

Table of Contents

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

(Unaudited)

(in millions)

	Three Months EndedJune 30,				Nine Months EndedJune 30,
	Three Months EndedDecember 31,
	2025		2024		~~2025~~		~~2024~~
Net income	$	~~293~~302	$	~~231~~178	$	~~719~~	$	~~709~~
Other comprehensive income (loss)
Pension and other postretirement benefit plan adjustments (net of tax expense of $(2), $0, $(5), and $0)	6		—		17		1
Pension and other postretirement benefit plan adjustments (net of tax expense of $1 and $2)	3		5
Currency translation adjustments	~~106~~27		(31130)		19		9
Net change in cash flow hedges (net of tax benefit of $6, $0, $0, and $5)	(15)		—		(1)		(13)
Net change in cash flow hedges (net of tax expense of $1 and $11)	3		25
Other comprehensive income (loss)	9733		(31100)		35		~~(3)~~
Comprehensive income	~~390~~335		~~200~~78		~~754~~		~~706~~
Comprehensive loss attributable to noncontrolling interests	(13)		(16)		~~(12)~~		~~(4)~~
Comprehensive income attributable to Rockwell Automation, Inc.	$	~~391~~338	$	~~201~~84	$	~~766~~	$	~~710~~

See Notes to Consolidated Financial Statements.

Table of Contents

CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited)

(in millions)

	Nine Months EndedJune 30,
	Three Months EndedDecember 31,
	2025		2024
Operating activities:
Net income	$	~~719~~302	$	~~709~~178
Adjustments to arrive at cash provided by operating activities
Depreciation	~~126~~44		~~121~~40
Amortization of intangible assets	~~114~~34		~~115~~38
Change in fair value of investments	3		(1)
Share-based compensation expense	21		23
Share-based compensation expense	65		75
Retirement benefit expense	6		10
Retirement benefit expense	31		14
Pension contributions	(2)		(3)
Net loss on disposition and impairment of property	9		1
Pension contributions	(8)		(19)
Changes in assets and liabilities, excluding effects of acquisitions and foreign currency adjustments
Receivables	~~(58)~~78		~~310~~73
Inventories	44(20)		6827
Accounts payable	1(103)		(~~292~~25)
Contract liabilities	6520		1642
Compensation and benefits	87(124)		(~~297~~12)
Income taxes	~~(130)~~5		(~~294~~8)
Other assets and liabilities	22(27)		(9419)
Cash provided by operating activities	~~1,090~~234		~~432~~364
Investing activities:
Capital expenditures	(~~137~~64)		(~~160~~71)
Acquisition of businesses, net of cash acquired	—		(749)
Purchases of investments	(5)		—
Purchases of investments	(13)		(10)
Other investing activities	—		(12)
Other investing activities	(15)		(1)
Cash used for investing activities	(69)		(83)
Cash used for investing activities	(165)		(920)
Financing activities:
Net (repayment) issuance of short-term debt	(398)		703
Net issuance (repayment) of short-term debt	149		(28)
Issuance of short-term debt, net of issuance costs	~~513~~33		19—
Issuance of long-term debt, net of issuance costs	12		—
Repayment of short-term debt	(70)		—
Repayment of long-term debt	(300)		—
Cash dividends	(156)		(149)
Cash dividends	(444)		(429)
Purchases of treasury stock	(153)		(100)
Purchases of treasury stock	(356)		(477)
Proceeds from the exercise of stock options	41		28
Proceeds from the exercise of stock options	78		32
Other financing activities	3		(5)
Other financing activities	(9)		(35)
Cash used for financing activities	(153)		(254)
Cash used for financing activities	(904)		(187)
Effect of exchange rate changes on cash	3		(27)
Effect of exchange rate changes on cash	3		2
Increase in cash, cash equivalents, and cash included in assets held for sale	15		—
Increase (decrease) in cash and cash equivalents	24		(673)
Cash and cash equivalents at beginning of period	468		471
Cash and cash equivalents at beginning of period	471		1,080
Cash, cash equivalents, and cash included in assets held for sale at end of period	$	483	$	471
Cash and cash equivalents at end of period	$	495	$	407
Cash included in assets held for sale	(39)		—
Total cash and cash equivalents at the end of the period	$	444	$	471

See Notes to Consolidated Financial Statements.

Table of Contents

CONSOLIDATED STATEMENT OF SHAREOWNERS’ EQUITY

(Unaudited)

(in millions, except per share amounts)

	Common stock		Additional paid-in capital		Retained earnings		Accumulated other comprehensive loss		Common stock in treasury, at cost		Total attributable to Rockwell Automation, Inc.		Noncontrolling interests		Total shareowners' equity
Balance at March 31, 2025	$	141	$	2,228	$	5,285	$	(833)	$	(3,382)	$	3,439	$	166	$	3,605
Balance at September 30, 2025	$	141	$	2,283	$	5,422	$	(657)	$	(3,535)	$	3,654	$	57	$	3,711
Net income (loss)	—		—		~~295~~305		—		—		~~295~~305		(23)		~~293~~302
Other comprehensive income	—		—		—		9633		—		9633		1—		9733
Common stock issued (including share-based compensation impact)	—		3013		—		—		2348		5361		—		5361
Share repurchases	—		—		—		—		(~~124~~151)		(~~124~~151)		—		(~~124~~151)
Cash dividends declared (1)	—		—		(~~296~~156)		—		—		(~~296~~156)		—		(~~296~~156)
Balance at June 30, 2025	$	141	$	2,258	$	5,284	$	(737)	$	(3,483)	$	3,463	$	165	$	3,628
Balance at December 31, 2025	$	141	$	2,296	$	5,571	$	(624)	$	(3,638)	$	3,746	$	54	$	3,800

	Common stock		Additional paid-in capital		Retained earnings		Accumulated other comprehensive loss		Common stock in treasury, at cost		Total attributable to Rockwell Automation, Inc.		Noncontrolling interests		Total shareowners' equity
Balance at March 31, 2024	$	181	$	2,142	$	9,449	$	(762)	$	(7,467)	$	3,543	$	179	$	3,722
Balance at September 30, 2024	$	181	$	2,188	$	9,635	$	(772)	$	(7,734)	$	3,498	$	177	$	3,675
Net income (loss)	—		—		~~232~~184		—		—		~~232~~184		(16)		~~231~~178
Other comprehensive loss	—		—		—		(31100)		—		(31100)		—		(31100)
Common stock issued (including share-based compensation impact)	—		2312		—		—		739		3051		—		3051
Share repurchases	—		—		—		—		(~~163~~99)		(~~163~~99)		—		(~~163~~99)
Cash dividends declared (1)	—		—		(285)		—		—		(285)		—		(285)
Share retirement (2)	(40)		—		(4,489)		—		4,529		—		—		—
Balance at June 30, 2024	$	181	$	2,165	$	9,396	$	(793)	$	(7,623)	$	3,326	$	178	$	3,504
Cash dividends declared (1)	—		—		(149)		—		—		(149)		—		(149)
Balance at December 31, 2024	$	141	$	2,200	$	5,181	$	(872)	$	(3,265)	$	3,385	$	171	$	3,556

(1) Cash dividends were $1.3138 per share and $1.2531 per share in the three months ended ~~June~~December 3031, 2025 and 2024, respectively.

(2) In the three months ended December 31, 2024, we retired 40 million shares of common stock that we held in our treasury. These shares are now designated as authorized and unissued.

Table of Contents

~~CONSOLIDATED~~ROCKWELL ~~STATEMENT~~AUTOMATION, ~~OF SHAREOWNERS’ EQUITY~~INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

~~(in~~1. ~~millions,~~Basis ~~except~~of ~~per~~Presentation ~~share~~and ~~amounts)~~Accounting Policies

	Common stock		Additional paid-in capital		Retained earnings		Accumulated other comprehensive loss		Common stock in treasury, at cost		Total attributable to Rockwell Automation, Inc.		Noncontrolling interests		Total shareowners' equity
Balance at September 30, 2024	$	181	$	2,188	$	9,635	$	(772)	$	(7,734)	$	3,498	$	177	$	3,675
Net income (loss)	—		—		731		—		—		731		(12)		719
Other comprehensive income	—		—		—		35		—		35		—		35
Common stock issued (including share-based compensation impact)	—		70		—		—		75		145		—		145
Share repurchases	—		—		—		—		(353)		(353)		—		(353)
Share retirement	(40)		—		(4,489)		—		4,529		—		—		—
Cash dividends declared (1)	—		—		(593)		—		—		(593)		—		(593)
Balance at June 30, 2025	$	141	$	2,258	$	5,284	$	(737)	$	(3,483)	$	3,463	$	165	$	3,628

In the opinion of management of Rockwell Automation, Inc. (Rockwell Automation or the Company), the unaudited Consolidated Financial Statements contain all adjustments necessary to present fairly the financial position, results of operations, and cash flows for the periods presented and, except as otherwise indicated, such adjustments consist only of those of a normal, recurring nature. These statements should be read in conjunction with our Annual Report on Form 10-K for the fiscal year ended September 30, 2025. The results of operations for the three months ended December 31, 2025, are not necessarily indicative of the results for the full year. All date references to years and quarters herein refer to our fiscal year and fiscal quarter, unless otherwise stated.

	Common stock		Additional paid-in capital		Retained earnings		Accumulated other comprehensive loss		Common stock in treasury, at cost		Total attributable to Rockwell Automation, Inc.		Noncontrolling interests		Total shareowners' equity
Balance at September 30, 2023	$	181	$	2,102	$	9,255	$	(790)	$	(7,187)	$	3,561	$	182	$	3,743
Net income (loss)	—		—		713		—		—		713		(4)		709
Other comprehensive loss	—		—		—		(3)		—		(3)		—		(3)
Common stock issued (including share-based compensation impact)	—		63		—		—		45		108		—		108
Share repurchases	—		—		—		—		(481)		(481)		—		(481)
Cash dividends declared (1)	—		—		(572)		—		—		(572)		—		(572)
Balance at June 30, 2024	$	181	$	2,165	$	9,396	$	(793)	$	(7,623)	$	3,326	$	178	$	3,504

Certain prior-year amounts in the Consolidated Statement of Operations have been reclassified to Engineering and development to conform to the current-year presentation, which we believe enhances transparency and provides a clearer view of overall business performance. This revised presentation also aligns more closely with the reporting practices of our industry peers, facilitating improved comparability for stakeholders. These reclassifications had no impact on net income, earnings per share, cash flows, segment operating earnings, or the financial position of the Company. For the three months ended December 31, 2024, the reclassifications resulted in a decrease to Cost of sales in the amount of $156 million.

~~(1)~~Assets ~~Cash dividends were $3.93 per share~~ and ~~$3.75~~Related ~~per~~Liabilities ~~share~~Held infor ~~the nine months ended June 30, 2025 and 2024, respectively.~~Sale

~~See~~During ~~Notes~~the fourth quarter of fiscal 2025, as a result of the historical financial performance of the Sensia joint venture not achieving expectations, a strategic review by the partners resulted in a decision to ~~Consolidated~~pursue ~~Financial~~an ~~Statements~~orderly dissolution. The decision by the joint venture partners was a triggering event that resulted in goodwill and intangible assets pre-tax, non-cash impairment charges of $161 million and $63 million, respectively, during the quarter ended September 30, 2025.

The joint venture partners signed a separation agreement in December 2025, including a plan for distribution of joint venture assets and related terms and conditions. The transaction is expected to close on April 1, 2026. The disposal group met the criteria to be classified as held for sale under ASC 360-10-45 during the quarter ended December 31, 2025. The assets and liabilities of the disposal group have been separately presented on the Consolidated Balance Sheet as Current assets held for sale and Current liabilities related to assets held for sale. Based on the planned distribution of assets and terms and conditions of the separation agreement, the carrying value of the disposal group approximates fair value less cost to sell at December 31, 2025.

The following table summarizes the major classes of assets and liabilities classified as held for sale as of December 31, 2025:


	December 31, 2025
Cash and cash equivalents	$	39
Receivables	86
Inventories	57
Other current assets	6
Property, net	5
Operating lease right-of-use assets	9
Other intangible assets, net	56
Assets held for sale	258

Accounts payable	23
Compensation and benefits	5
Contract liabilities	18
Other current liabilities	9
Operating lease liabilities	7
Other liabilities	3
Liabilities related to assets held for sale	$	65

Table of Contents

ROCKWELL AUTOMATION, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(Unaudited)

1. Basis of Presentation and Accounting Policies

In the opinion of management of Rockwell Automation, Inc. (Rockwell Automation or the Company), the unaudited Consolidated Financial Statements contain all adjustments necessary to present fairly the financial position, results of operations, and cash flows for the periods presented and, except as otherwise indicated, such adjustments consist only of those of a normal, recurring nature. These statements should be read in conjunction with our Annual Report on Form 10-K for the fiscal year ended September 30, 2024. The results of operations for the three and nine months ended June 30, 2025, are not necessarily indicative of the results for the full year. All date references to years and quarters herein refer to our fiscal year and fiscal quarter, unless otherwise stated.

Receivables

We record an allowance for doubtful accounts based on customer-specific analysis and general matters such as current assessments of past due balances and economic conditions. Receivables are recorded net of an allowance for doubtful accounts of $2520 million at ~~June~~December 3031, 2025, and $2221 million at September 30, ~~2024~~2025. The changes to our allowance for doubtful accounts during the three ~~and nine~~ months ended ~~June~~December 3031, 2025 and 2024, were not material and primarily consisted of current-period provisions, write-offs charged against the allowance, recoveries collected, and foreign currency translation.

Earnings Per Share

The following table reconciles basic and diluted earnings per share (EPS) amounts (in millions, except per share amounts):

	Three Months EndedJune 30,				Nine Months EndedJune 30,
	Three Months EndedDecember 31,
	2025		2024		~~2025~~		~~2024~~
Net income attributable to Rockwell Automation, Inc.	$	~~295~~305	$	~~232~~184	$	~~731~~	$	~~713~~
Less: Allocation to participating securities	(1)		(1)		~~(3)~~		~~(3)~~
Net income available to common shareowners	$	~~294~~304	$	~~231~~183	$	~~728~~	$	~~710~~
Basic weighted average outstanding shares	112.53		113.70		~~112.8~~		~~114.2~~
Effect of dilutive securities
Stock options	0.45		0.5		~~0.4~~		~~0.5~~
Performance shares	0.1		—		$	—	$	—
Diluted weighted average outstanding shares	~~113~~112.09		~~114~~113.25		~~113.2~~		~~114.7~~
Earnings per share:
Basic	$	2.6171	$	21.0362	$	~~6.45~~	$	~~6.22~~
Diluted	$	2.6069	$	21.0261	$	~~6.43~~	$	~~6.19~~

For the three ~~and nine~~ months ended ~~June~~December 3031, 2025 and 2024, there were 0.4 million and 10.7 million shares, respectively, related to share-based compensation awards that were excluded from the diluted EPS calculation because they were antidilutive. For both the three and nine months ended June 30, 2024, there were 0.5 million shares related to share-based compensation awards that were excluded from the diluted EPS calculation because they were antidilutive.

Non-Cash Investing and Financing Activities

Capital expenditures of $2021 million and $3011 million were accrued within Accounts payable and Other current liabilities at ~~June~~December 3031, 2025 and 2024, respectively. AtOutstanding ~~both~~common ~~June 30,~~stock ~~2025~~share ~~and~~repurchases ~~2024,~~of ~~there~~$2 ~~was~~million and $1 million ofthat ~~outstanding~~did ~~common~~not ~~stock~~settle ~~share~~until ~~repurchases~~the ~~recorded~~next inquarter ~~Accounts~~were ~~payable~~accrued ~~that~~within ~~did~~Accounts ~~not~~payable ~~settle~~at ~~until~~December 31, ~~the~~2025 ~~next~~and ~~quarter~~2024, respectively. These non-cash investing and financing activities have been excluded from cash used for capital expenditures and treasury stock purchases in the Consolidated Statement of Cash Flows.

In December 2025, we entered into a definitive agreement to purchase our manufacturing facility in Mequon, Wisconsin, for $63 million. The facility had previously been leased by us and accounted for as an operating lease. The transaction was accounted for as a lease modification with a purchase option that was reasonably certain to be exercised, resulting in a change in classification from an operating lease to a finance lease as of December 31, 2025. As a result of the modification, we recognized an increase of $53 million in Property, net, an increase of $62 million in Current portion of long‑term debt, and the derecognition of the related right‑of‑use asset, lease liability, and asset retirement obligation of $16 million, $23 million, and $2 million, respectively. The purchase closed in January 2026.

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ROCKWELL AUTOMATION, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(Unaudited)

Leases

Supplemental cash flow information related to leases consists of (in millions):

	Nine Months EndedJune 30,
	2025		2024
Right-of-use assets obtained in exchange for lease obligations
Operating leases	$	39	$	119
Finance leases	—		5

In the nine months ended June 30, 2025 and 2024, we realized changes in our right-of-use assets and lease liabilities, both as a result of new leases and existing leases for which we are reasonably certain to exercise future renewal options.

Supplier Financing Arrangements

The Company maintains agreements with third-party financial institutions that offer voluntary supply chain financing (SCF) programs to suppliers. The SCF programs enable suppliers, at their sole discretion, to sell their receivables to third-party financial institutions in order to receive payment on receivables earlier than the negotiated commercial terms between suppliers and the Company. Supplier sale of receivables to third-party financial institutions is on terms negotiated between the supplier and the respective third-party financial institution. The Company agrees on commercial terms for the goods and services procured from suppliers, including prices, quantities, and payment terms, regardless of whether the supplier elects to participate in the SCF programs. A supplier’s voluntary participation in the SCF programs has no bearing on the Company's payment terms and the Company has no economic interest in a supplier’s decision to participate in the SCF programs. The Company agrees to pay participating third-party financial institutions the stated amount of confirmed invoices from suppliers on the original maturity dates of the invoices. Amounts outstanding related to SCF programs are included in Accounts payable in the Consolidated Balance Sheet and in changes in Accounts payable on the Consolidated Statement of Cash Flows. Accounts payable included approximately $67 million and $77 million related to these agreements as of June 30, 2025, and September 30, 2024, respectively. The impact of these programs is not material to the Company's overall liquidity.

Amounts outstanding related to SCF programs are included in Accounts payable in the Consolidated Balance Sheet and in changes in Accounts payable on the Consolidated Statement of Cash Flows. The impact of these programs is not material to the Company's overall liquidity.

The rollforward of our outstanding obligations under the SCF programs is as follows (in millions):


	December 31, 2025		December 31, 2024
Beginning balance	$	68	$	77
Invoices confirmed during the period	58		56
Payments made during the period	(64)		(65)
Ending balance	$	62	$	68

Recently Issued Accounting Pronouncements

In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07, which requires expanded interim and annual disclosures of segment information regularly provided to the chief operating decision maker (CODM), the title and position of the CODM, an explanation of how the CODM uses the information in assessing segment performance and deciding how to allocate resources, and an amount for other segment items by reportable segment and a description of its composition. We will expand our disclosures in our 2025 Annual Report on Form 10-K when the standard becomes effective for us.

In December 2023, the FASB issued ASU 2023-09, which requires expanded annual disclosures to the income tax rate reconciliation and the amount of income taxes paid. We will expand our disclosures in our 2026 Annual Report on Form 10-K when the standard becomes effective for us.

In November 2024, the FASB issued ASU 2024-03, which requires disclosure of certain expense amounts comprising Cost of sales and Selling, general and administrative expenses, as well as a qualitative description of the remaining expense amounts. In ~~Janaury~~January 2025, the FASB issued ASU 2025-01, which clarified the effective date of this standard. We will expand our disclosures in our 2028 Annual Report on Form 10-K when the standard becomes effective for us.

In September 2025, the FASB issued ASU 2025-06, which modernizes the internal-use software guidance in Subtopic 350-40 by removing software development considerations, and clarifies the threshold applied to begin capitalizing costs. We are evaluating and quantifying the impact from this standard, which will be effective for us in fiscal 2029.

We do not expect any other recently issued accounting pronouncements to have a material impact on our Consolidated Financial Statements and related disclosures.

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ROCKWELL AUTOMATION, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(Unaudited)

2. Revenue Recognition

Substantially all of our revenue is from contracts with customers. We recognize revenue as promised products are transferred to, or services are performed for, customers in an amount that reflects the consideration to which we expect to be entitled in exchange for those products and services. Our offerings consist of industrial automation and information products, solutions, and services.

Our products include hardware, software, and configured-to-order products. Our solutions include custom-engineered systems and software. Our services include customer technical support and repair, asset management and optimization consulting, and training. Also included in our services is a portion of revenue related to spare parts that are managed within our services offering.

Our operations are comprised of the Intelligent Devices segment, the Software & Control segment, and the Lifecycle Services segment. Revenue from the Intelligent Devices segment is predominantly comprised of product sales, which are recognized at a point in time. Revenue from the Software & Control segment is comprised of product sales, which are recognized at a point in time, and software products, which may be recognized over time if certain criteria are met. Revenue from the Lifecycle Services segment is predominantly comprised of solutions and services, which are primarily recognized over time. See Note 1615 for more information.

Unfulfilled Performance Obligations

As of ~~June~~December 3031, 2025, we expect to recognize approximately $1,~~405~~460 million of revenue in future periods from unfulfilled performance obligations from existing contracts with customers. We expect to recognize revenue of approximately $~~830~~875 million from our remaining performance obligations over the next 12 months with the remaining balance recognized thereafter.

We have applied the practical expedient to exclude the value of remaining performance obligations for (i) contracts with an original term of one year or less and (ii) contracts for which we recognize revenue in proportion to the amount we have the right to invoice for services performed. The amounts above also do not include the impact of contract renewal options that are unexercised as of ~~June~~December 3031, 2025.

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ROCKWELL AUTOMATION, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(Unaudited)

Disaggregation of Revenue

The following table presents our revenue disaggregation by geographic region for our three operating segments (in millions). We attribute sales to the geographic regions based on the country of destination.

	Three Months Ended June 30, 2025																Three Months Ended June 30, 2024
			Three Months Ended December 31, 2025
	Intelligent Devices				Software & Control				Lifecycle Services				Total				Intelligent Devices				Software & Control		Lifecycle Services		Total
			North America				Europe, Middle East, and Africa				Asia Pacific				Latin America				Total
North America	$	636			$	431			$	287			$	1,354			$	636			$	336	$	296	$	1,268
Intelligent Devices			$	650			$	141			$	96			$	66			$	953
Europe, Middle East, and Africa	160				94				138				392				144				76		136		356
Software & Control			430				91				66				42				629
Asia Pacific	103				70				93				266				99				58		103		260
Lifecycle Services			259				140				93				31				523
Latin America	69				34				29				132				78				43		46		167
Total Company Sales			$	1,339			$	372			$	255			$	139			$	2,105
Total Company Sales	$	968			$	629			$	547			$	2,144			$	957			$	513	$	581	$	2,051

	Nine Months Ended June 30, 2025																Nine Months Ended June 30, 2024
			Three Months Ended December 31, 2024
	Intelligent Devices				Software & Control				Lifecycle Services				Total				Intelligent Devices				Software & Control		Lifecycle Services		Total
			North America				Europe, Middle East, and Africa				Asia Pacific				Latin America				Total
North America	$	1,755			$	1,199			$	838			$	3,792			$	1,877			$	1,085	$	847	$	3,809
Intelligent Devices			$	519			$	135			$	86			$	66			$	806
Europe, Middle East, and Africa	446				245				391				1,082				469				272		402		1,143
Software & Control			365				73				55				36				529
Asia Pacific	275				177				292				744				297				207		302		806
Lifecycle Services			266				124				110				46				546
Latin America	194				105				109				408				215				122		134		471
Total Company Sales			$	1,150			$	332			$	251			$	148			$	1,881
Total Company Sales	$	2,670			$	1,726			$	1,630			$	6,026			$	2,858			$	1,686	$	1,685	$	6,229

Contract Liabilities

Contract liabilities primarily relate to consideration received in advance of performance under the contract.

Below is a summary of our Contract liabilities balance, the portion not expected to be recognized within twelve months is included within Other liabilities in the Consolidated Balance Sheet (in millions):

	June 30, 2025		June 30, 2024
	December 31, 2025		December 31, 2024
Balance as of beginning of year	$	~~653~~695	$	~~654~~653
Balance as of end of period	~~720~~698		~~669~~680

The most significant changes in our Contract liabilities balance during both the ~~nine~~three months ended ~~June~~December 3031, 2025, and ~~June 30,~~ 2024, were due to amounts billed during the period, partially offset by revenue recognized ~~on amounts billed during the period and revenue recognized~~ that was included in the Contract liabilities balance at the beginning of the period and revenue recognized on amounts billed during the period.

In the ~~nine~~three months ended ~~June~~December 3031, 2025, we recognized revenue of approximately $~~538~~254 million that was included in the Contract liabilities balance at September 30, ~~2024~~2025. In the ~~nine~~three months ended ~~June~~December 3031, 2024, we recognized revenue of approximately $~~487~~273 million that was included in the Contract liabilities balance at September 30, ~~2023~~2024. We did not have a material amount of revenue recognized in the ~~nine~~three months ended ~~June~~December 3031, 2025 and 2024, from performance obligations satisfied or partially satisfied in previous periods.

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ROCKWELL AUTOMATION, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(Unaudited)

3. Share-Based Compensation

We recognized $21 million and $6523 million of pre-tax share-based compensation expense during the three ~~and nine~~ months ended ~~June~~December 3031, 2025, ~~respectively. We recognized $24 million~~ and ~~$75 million of pre-tax share-based compensation expense during the three and nine months ended June 30,~~ 2024, respectively. Our annual grant of share-based compensation takes place during the first quarter of each year. The number of shares granted to employees and non-employee directors and the weighted average fair value per share during the periods presented were (in thousands, except per share amounts):

Nine Months Ended June 30,

Three Months Ended December 31,

2025

2024

Grants

Wtd. Avg.ShareFair Value

Grants

Wtd. Avg.ShareFair Value

Stock options

~~190~~201

93117.15

~~217~~190

8693.48

Performance shares

5851

~~388~~591.67

7958

~~295~~387.72

Restricted stock units

92161

~~294~~399.94

~~251~~86

~~277~~296.48

Unrestricted stock

~~297~~402.22

~~278~~297.10

4. Inventories

Inventories consist of (in millions):

	June 30, 2025		September 30, 2024
	December 31, 2025		September 30, 2025
Finished goods	$	~~484~~456	$	~~475~~502
Work in process	~~335~~342		~~344~~331
Raw materials	~~434~~420		~~474~~414
Inventories	$	1,~~253~~218	$	1,~~293~~247

5. ~~Acquisitions~~Goodwill and Other Intangible Assets

~~2024~~Changes ~~Acquisitions~~in the carrying amount of Goodwill for the three months ended December 31, 2025, were (in millions):

In October 2023, we acquired Clearpath Robotics, Inc., including its industrial division OTTO Motors (Clearpath), a company that specializes in autonomous robotics for industrial applications, headquartered in Ontario, Canada. We recorded assets acquired and liabilities assumed in connection with this acquisition based on their estimated fair values as of the acquisition date of October 2, 2023. The aggregate purchase price allocation is as follows (in millions):


	Intelligent Devices		Software & Control		Lifecycle Services		Total
Balance as of September 30, 2025	$	904	$	2,440	$	495	$	3,839

Translation	7		6		—		13
Balance as of December 31, 2025	$	911	$	2,446	$	495	$	3,852

Gross carrying value of goodwill	$	911	$	2,446	$	814	$	4,171
Accumulated impairment losses	—		—		(319)		(319)
Goodwill	$	911	$	2,446	$	495	$	3,852

	Purchase Price Allocation
Receivables	$	8
Inventory	22
Goodwill	283
Intangible assets	313
All other assets	11
Total assets acquired	637
Less: Deferred tax liability	(9)
Less: Liabilities assumed	(19)
Net assets acquired	$	609
	Purchase Consideration
Cash consideration, net of cash acquired	$	566
Contingent consideration	43
Total purchase consideration, net of cash acquired	$	609

We perform our annual evaluation of goodwill and indefinite life intangible assets for impairment during the second quarter of each year, or more frequently, if events or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying value. We assessed the changes in events and circumstances during the first quarter of 2026 and concluded that no triggering events, which would require interim quantitative testing, occurred.

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ROCKWELL AUTOMATION, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(Unaudited)

Other intangible assets consist of (in millions):

Intangible assets identified include $270 million of technology, $41 million of trademarks, and $2 million of customer relationships. We assigned the full amount of goodwill and all other assets acquired to our Intelligent Devices segment. The goodwill recorded represents intangible assets that do not qualify for separate recognition. This goodwill arises because the purchase price for Clearpath reflects a number of factors including the future earnings and cash flow potential for the business and resulting synergies from the business portfolio and industry expertise. We do not expect the goodwill to be deductible for tax purposes. The intangible assets were valued using an income approach, specifically the relief from royalty method and multi-period excess earnings method. The relief from royalty method calculates value based on hypothetical payments that would be saved by owning an asset rather than licensing it. The multi-period excess earnings method is the isolation of cash flows from a single intangible asset and measures fair value by discounting them to present value. These values are considered level 3 measurements under the U.S. GAAP fair value hierarchy. Refer to Note 9 for further information regarding levels in the fair value hierarchy. The key assumption requiring the use of judgement in the valuation of the technology asset was the obsolescence factor, where we estimated a phase out over 12 years; other assumptions included forecasted revenue growth rates and margin and the discount rate. The key assumption requiring the use of judgement in the valuation of the trademarks asset was the weighted average royalty rate of 2.05 percent; other assumptions included forecasted revenue growth rates and the discount rate.


	December 31, 2025
	Carrying Amount		Accumulated Amortization		Net
Amortized intangible assets
Software products	$	108	$	(85)	$	23
Customer relationships	418		(136)		$	282
Technology	656		(288)		$	368
Trademarks	108		(50)		$	58
Other	2		(2)		$	—
Total amortized intangible assets	1,292		(561)		731
Allen-Bradley® trademark not subject to amortization	44		—		44
Other intangible assets	$	1,336	$	(561)	$	775

The purchase price included up to $50 million in contingent consideration that could have been earned by the sellers if Clearpath achieved revenue targets in two performance periods ending February 29, 2024, and February 28, 2025. We developed various risk-based scenarios and a probability outcome model and determined the fair value to be $43 million as of the acquisition date, which is considered a level 3 measurement under the U.S. GAAP fair value hierarchy. We updated the fair value measures quarterly during the performance periods to reflect actual results and remaining expected contingent consideration that could be earned.


	September 30, 2025
	Carrying Amount		Accumulated Amortization		Net
Amortized intangible assets
Software products	$	108	$	(83)	$	25
Customer relationships	569		(232)		$	337
Technology	698		(304)		$	394
Trademarks	131		(67)		$	64
Other	6		(6)		$	—
Total amortized intangible assets	1,512		(692)		820
Allen-Bradley® trademark not subject to amortization	44		—		44
Other intangible assets	$	1,556	$	(692)	$	864

~~The~~Estimated ~~following~~total ~~table~~amortization ~~presents~~expense ~~the~~for ~~fair~~all ~~value~~amortized ofintangible ~~the~~assets ~~contingent~~is ~~consideration~~$131 million in ~~the~~2026, ~~Consolidated~~$122 ~~Balance~~million ~~Sheet~~in (2027, $111 million in ~~millions):~~2028, $73 million in 2029, and $71 million in 2030.

	Period ended February 29, 2024		Period ended February 28, 2025		Total
Contingent consideration as of December 31, 2023	$	17	$	26	$	43
Adjustment for earnout achieved for first performance period	(7)		—		(7)
Adjustment to fair value	—		(21)		(21)
Payment of earnout achieved for first performance period	(10)		—		(10)
Contingent consideration as of September 30, 2024	$	—	$	5	$	5
Adjustment for earnout forfeited for second performance period	—		(5)		(5)
Contingent consideration as of June 30, 2025	$	—	$	—	$	—

No consideration was earned or paid for the second performance period. The consideration for the amount earned for the first performance period was paid during the third quarter of 2024.

In November 2023, we acquired Verve Industrial Protection (Verve), a cybersecurity software and services company that focuses specifically on industrial environments. We recorded assets acquired and liabilities assumed in connection with this acquisition based on their estimated fair values as of the acquisition date of November 1, 2023. The aggregate purchase price allocation is as follows (in millions):

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ROCKWELL AUTOMATION, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(Unaudited)

	Purchase Price Allocation
Receivables	$	8
Goodwill	133
Intangible assets	47
All other assets	1
Total assets acquired	189
Less: Liabilities assumed	(6)
Net assets acquired	$	183
	Purchase Consideration
Total purchase consideration, net of cash acquired	$	183

6. Short-Term and Long-Term Debt

WeOur ~~assigned~~Short-term ~~the~~debt ~~full~~as ~~amount~~of December 31, 2025, included commercial paper borrowings of ~~goodwill~~$671 tomillion, ~~our~~with ~~Lifecycle~~a ~~Services~~weighted ~~segment~~average interest rate of 3.89 Wepercent, ~~expect~~and ~~the~~a ~~goodwill~~weighted toaverage bematurity ~~deductible~~period ~~for~~of ~~tax~~32 ~~purposes~~days. ~~The~~Our ~~goodwill~~Short-term ~~recorded~~debt ~~represents~~as ~~intangible~~of ~~assets~~September 30, ~~that~~2025, doincluded ~~not~~commercial ~~qualify~~paper ~~for~~borrowings ~~separate~~of ~~recognition~~$522 million, with a weighted average interest rate of 4.24 percent, and a weighted average maturity period of 16 days. Included in Current portion of long-term debt as of December 31, 2025, was $62 million related to the purchase of the Mequon facility in January 2026, referenced in Note 1.

~~Pro~~In ~~forma~~December ~~consolidated~~2022, ~~sales~~Sensia ~~for~~entered into an unsecured $75 million line of credit. There were no borrowings outstanding under the ~~three~~line ~~and~~of ~~nine~~credit ~~months~~as ~~ended~~of ~~June~~December 3031, ~~2024~~2025, ~~were~~as ~~$2.1 billion~~the credit line matured and $6closed and outstanding debt was settled with loans from the joint venture partners.2 As of September ~~billion~~30, ~~respectively~~2025, ~~and~~included ~~the~~in ~~impact~~Short-term ondebt ~~earnings~~ was ~~not~~$70 million ~~material.~~borrowed ~~The~~against ~~preceding~~the ~~pro~~line ~~forma~~of ~~consolidated~~credit ~~financial~~with ~~results~~an interest rate of ~~operations~~5.18 ~~are~~percent. Also included in Short-term debt as ifof December 31, 2025, were the ~~preceding~~following ~~2024~~interest-bearing ~~acquisitions~~loans ~~occurred~~from onSchlumberger (SLB) to Sensia: $42 million due October 115, ~~2023.~~2026, ~~The~~$14 million ~~pro~~which ~~forma~~in ~~information~~February is2026 ~~presented~~was ~~for~~extended ~~informational~~to ~~purposes~~be ~~only~~due June 15, 2026, and is$33 million ~~not~~entered ~~indicative~~into in December 2025 and due June 10, 2026. As of September 30, 2025, the ~~results~~$14 million and $42 million of ~~operations~~interest-bearing ~~that~~loans ~~would~~were ~~have~~included ~~been~~in ~~achieved~~Short-term ~~had~~debt and Long-term debt, respectively. Pursuant to the ~~transaction~~separation ~~occurred~~agreement asreferenced ofin ~~that~~Note ~~time~~1, all intercompany debt will be settled by the joint venture parents upon dissolution.

~~Total~~In ~~sales~~November ~~from~~2025, ~~all~~we ofreplaced ~~the~~our ~~above~~former ~~2024~~$1.5 billion ~~acquisitions~~unsecured inrevolving ~~the~~credit ~~three~~facility ~~and~~with ~~nine~~a ~~months~~new ~~ended~~five-year ~~June~~$1.5 ~~30,~~billion ~~2024~~unsecured revolving credit facility, ~~were~~expiring ~~$13~~in ~~million~~November ~~and~~2030. ~~$60 million,~~This ~~respectively~~credit facility uses the secured overnight funding rate (SOFR) as the primary basis for determining interest payments. ~~Total~~We ~~acquisition-related~~can ~~costs~~increase ~~from~~the ~~all~~aggregate amount of this credit facility by up to $750 million, subject to the ~~above~~consent ~~2024~~of ~~acquisitions~~the banks in the ~~three~~credit ~~and~~facility. ~~nine~~We ~~months~~did not borrow against this credit facility during the quarter ended ~~June~~December 3031, ~~2024~~2025, ~~were~~or ~~not~~against ~~material.~~our ~~Net~~prior ~~losses~~credit ~~from~~facility ~~all~~during the ~~above~~quarter ~~2024~~ended ~~acquisitions~~September 30, 2025. The terms of this credit facility contain covenants under which we agree to maintain an EBITDA-to-interest ratio of at least 3.0 to 1.0. The EBITDA-to-interest ratio is defined in the ~~three~~credit ~~and~~facility ~~nine~~as ~~months~~the ~~ended~~ratio ~~June 30,~~of ~~2024,~~consolidated ~~were~~EBITDA ~~$9 million~~for ~~and~~the ~~$43 million,~~preceding ~~respectively~~four quarters to consolidated interest expense for the same period.

6.The ~~Goodwill~~following table presents the carrying amounts and ~~Other~~estimated ~~Intangible~~fair ~~Assets~~values of Long-term debt in the Consolidated Balance Sheet (in millions):

Changes in the carrying amount of Goodwill for the nine months ended June 30, 2025, were (in millions):


	December 31, 2025				September 30, 2025
	Carrying Value		Fair Value		Carrying Value		Fair Value
Current portion of long-term debt	$	64	$	64	$	2	$	2
Long-term debt	2,574		2,301		2,614		2,350

	Intelligent Devices		Software & Control		Lifecycle Services		Total
Balance as of September 30, 2024	$	900	$	2,437	$	656	$	3,993
Translation	4		3		2		9
Balance as of June 30, 2025	$	904	$	2,440	$	658	$	4,002
Gross carrying value of goodwill	$	904	$	2,440	$	816	$	4,160
Accumulated impairment losses	—		—		(158)		(158)
Goodwill	$	904	$	2,440	$	658	$	4,002

We base the fair value of Long-term debt upon quoted market prices for the same or similar issues and therefore consider this a level 2 fair value measurement. The fair value of Long-term debt considers the terms of the debt excluding the impact of derivative and hedging activity. Refer to Note 8 for further information regarding levels in the fair value hierarchy. The carrying value of our Short-term debt approximates fair value.

We performed our annual evaluation of goodwill and indefinite life intangible assets for impairment as of the beginning of the second quarter of fiscal 2025 and concluded that these assets are not impaired7. ~~For~~Other ~~our~~Current annual evaluation, we performed qualitative tests for our Intelligent Devices, Software & Control, and Lifecycle Services (excluding Sensia) reporting units and a quantitative test for our Sensia reporting unit. We also assessed the changes in events and circumstances subsequent to our annual test and concluded that no triggering events, which would require interim quantitative testing, occurred.Liabilities

Other current liabilities consist of (in millions):


	December 31, 2025		September 30, 2025
Unrealized losses on foreign exchange contracts	$	21	$	20
Product warranty obligations	22		23
Taxes other than income taxes	49		55
Legacy asbestos-related liabilities	34		34
Accrued interest	41		20

Income taxes payable	184		163
Operating lease liabilities	89		94
Other	90		96
Other current liabilities	$	530	$	505

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ROCKWELL AUTOMATION, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(Unaudited)

	June 30, 2025
	CarryingAmount		AccumulatedAmortization		Net
Amortized intangible assets
Software products	$	109	$	81	$	28
Customer relationships	622		221		401
Technology	704		289		415
Trademarks	136		58		78
Other	6		6		—
Total amortized intangible assets	1,577		655		922
Allen-Bradley® trademark not subject to amortization	44		—		44
Other intangible assets	$	1,621	$	655	$	966

8. Investments

	September 30, 2024
	CarryingAmount		AccumulatedAmortization		Net
Amortized intangible assets
Software products	$	105	$	76	$	29
Customer relationships	619		187		432
Technology	729		257		472
Trademarks	132		44		88
Other	6		5		1
Total amortized intangible assets	1,591		569		1,022
Allen-Bradley® trademark not subject to amortization	44		—		44
Other intangible assets	$	1,635	$	569	$	1,066

Estimated total amortization expense for all amortized intangible assets is $152 million in 2025, $150 million in 2026, $141 million in 2027, $129 million in 2028, and $89 million in 2029.

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ROCKWELL AUTOMATION, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(Unaudited)

7. Short-Term and Long-Term Debt

Our Short-term debt as of June 30, 2025, included commercial paper borrowings of $260 million, with a weighted average interest rate of 4.51 percent, and a weighted average maturity period of 11 days. Our Short-term debt as of September 30, 2024, included commercial paper borrowings of $657 million, with a weighted average interest rate of 5.14 percent, and a weighted average maturity period of 24 days. In December 2022, Sensia entered into an unsecured $75 million line of credit. As of June 30, 2025, and September 30, 2024, included in Short-term debt was $70 million borrowed against the line of credit with an interest rate of 5.32 percent and 6.17 percent, respectively. Also included in Short-term debt as of June 30, 2025, and September 30, 2024, was $14 million and $42 million, respectively, of interest-bearing loans from Schlumberger (SLB) to Sensia. In April 2025, $14 million of new interest-bearing loans from SLB to Sensia were entered into and are due October 15, 2025. The loans outstanding as of September 30, 2024, were extended to October 15, 2026, and are included in Long-term debt as of June 30, 2025.

In May 2025, we entered into a $500 million senior unsecured 364-day term loan credit agreement and were advanced the full loan amount. This agreement is in addition to our existing $1.5 billion unsecured revolving credit facility expiring in June 2027, which remains outstanding and undrawn. Borrowings under this term loan bear interest based on Secured Overnight Financing Rates (SOFR) in effect during the period the borrowings are outstanding, and the interest rate as of June 30, 2025, was 5.45 percent. The term loan agreement contains covenants similar to those under our $1.5 billion unsecured revolving credit facility, under which we agree to maintain an EBITDA-to-interest ratio of at least 3.0 to 1.0. The EBITDA-to-interest ratio is defined in the term loan agreement as the ratio of consolidated EBITDA (as defined in the term loan agreement) for the preceding four quarters to consolidated interest expense for the same period.

The following table presents the carrying amounts and estimated fair values of Long-term debt in the Consolidated Balance Sheet (in millions):

	June 30, 2025				September 30, 2024
	Carrying Value		Fair Value		Carrying Value		Fair Value
Current portion of long-term debt	$	2	$	2	$	307	$	305
Long-term debt	2,617		2,286		2,561		2,334

We base the fair value of Long-term debt upon quoted market prices for the same or similar issues and therefore consider this a level 2 fair value measurement. The fair value of Long-term debt considers the terms of the debt excluding the impact of derivative and hedging activity. Refer to Note 9 for further information regarding levels in the fair value hierarchy. The carrying value of our Short-term debt approximates fair value.

8. Other Current Liabilities

	June 30, 2025		September 30, 2024
Unrealized losses on foreign exchange contracts	$	26	$	29
Product warranty obligations	24		24
Taxes other than income taxes	43		53
Accrued interest	39		18
Dividends payable	151		3
Income taxes payable	161		139
Operating lease liabilities	92		90
Other	108		120
Other current liabilities	$	644	$	476

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ROCKWELL AUTOMATION, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(Unaudited)

9. Investments

Our investments consist of (in millions):

June 30, 2025

September 30, 2024

December 31, 2025

September 30, 2025

Equity securities (other)

~~105~~$

108

~~106~~$

105

Other

7679

6377

Long-term investments (1)

~~181~~187

~~169~~182

(1) Long-term investments are included in Other assets in the Consolidated Balance Sheet.

Equity Securities

Equity securities (other) consist of various securities that do not have a readily determinable fair value, which we account for using the measurement alternative under U.S. GAAP. These securities are recorded at the investment cost, less impairment, plus or minus observable price changes (in orderly transactions) of an identical or similar investment of the same issuer in the Consolidated Balance Sheet. Observable price changes are classified as level 2 in the fair value hierarchy, as described below. The carrying values at both ~~June~~December 3031, 2025, and September 30, ~~2024~~2025, included cumulative upward adjustments from observed price changes of $23 million. The carrying values at ~~June~~both December 3031, 2025, and September 30, ~~2024~~2025, included cumulative downward adjustments from observed price changes and impairments of $1110 million ~~and $7 million, respectively~~.

We record gains and losses on investments within the Other income line in the Consolidated Statement of Operations. There were no significant unrealized gains or losses on investments in the three months ended December 31, 2025 and 2024.

U.S. GAAP defines fair value as the price that would be received for an asset or paid to transfer a liability (exit price) in an orderly transaction between market participants in the principal or most advantageous market for the asset or liability. U.S. GAAP also classifies the inputs used to measure fair value into the following hierarchy:


Level 1:						Quoted prices in active markets for identical assets or liabilities.


Level 2:						Quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability.


Level 3:						Unobservable inputs for the asset or liability.

The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while we believe our valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. We did not have any transfers between levels of fair value measurements during the periods presented.

1917

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ROCKWELL AUTOMATION, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(Unaudited)

109. Retirement Benefits

The components of net periodic pension and postretirement benefit cost were (in millions):

	Pension Benefits
	Three Months EndedJune 30,				Nine Months EndedJune 30,
	Three Months EndedDecember 31,
	2025		2024		~~2025~~		~~2024~~
Service cost	$	109	$	810	$	31	$	27
Interest cost	34		3734		~~102~~		~~110~~
Expected return on plan assets	(42)		(4241)		~~(125)~~		~~(127)~~
Amortization of net actuarial loss	74		—6		20		—
Net periodic pension benefit cost	$	95	$	39	$	28	$	10

	Other Postretirement Benefits
	Three Months EndedJune 30,				Nine Months EndedJune 30,
	Three Months EndedDecember 31,
	2025		2024		~~2025~~		~~2024~~
Service cost	$	—	$	1	$	—	$	1
Amortization of net actuarial loss	$	1	$	1
Interest cost	1		1		1		2
Net periodic postretirement benefit cost	$	1	$	1
Amortization of net actuarial loss	—		—		2		1
Net periodic postretirement benefit cost	$	1	$	2	$	3	$	4

The service cost component is included in Cost of sales, ~~and~~ Selling, general and administrative expenses, and Engineering and development in the Consolidated Statement of Operations. All other components are included in Other income in the Consolidated Statement of Operations.

1110. Other Income

The components of Other income were (in millions):

	Three Months EndedJune 30,				Nine Months EndedJune 30,
	Three Months EndedDecember 31,
	2025		2024		~~2025~~		~~2024~~
Interest income	$	43	$	34	$	10	$	12
Royalty income	3		3		9		9
Legacy product liability and environmental charges	(4)		(3)		(13)		(11)
Net legacy asbestos and environmental charges	(1)		(3)
Non-operating pension and postretirement benefit credit	—3		4—		—		14
Fair value adjustments for earnout payments (Note 5)	—		—		(5)		(7)
Other	—		2
Other	2		—		10		14
Other income	$	8	$	6
Other income	$	5	$	7	$	11	$	31

~~12. Accumulated Other Comprehensive Loss~~18

Common Stock

In the nine months ended June 30, 2025, we retired 40 million shares of common stock that we held in our treasury. These shares are now designated as authorized and unissued.

Changes in Accumulated other comprehensive loss attributable to Rockwell Automation by component for the following periods were (in millions):

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ROCKWELL AUTOMATION, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(Unaudited)

Three Months Ended June 30, 2025	Pension and other postretirement benefit plan adjustments, net of tax		Accumulated currency translation adjustments, net of tax		Net unrealized losses on cash flow hedges, net of tax		Total accumulated other comprehensive loss, net of tax
Balance as of March 31, 2025	$	(420)	$	(382)	$	(31)	$	(833)
Other comprehensive income (loss) before reclassifications	—		105		(16)		89
Amounts reclassified from accumulated other comprehensive loss	6		—		1		7
Other comprehensive income (loss)	6		105		(15)		96
Balance as of June 30, 2025	$	(414)	$	(277)	$	(46)	$	(737)

11. Accumulated Other Comprehensive Loss

Nine Months Ended June 30, 2025	Pension and other postretirement benefit plan adjustments, net of tax		Accumulated currency translation adjustments, net of tax		Net unrealized losses on cash flow hedges, net of tax		Total accumulated other comprehensive loss, net of tax
Balance as of September 30, 2024	$	(431)	$	(296)	$	(45)	$	(772)
Other comprehensive income before reclassifications	—		19		3		22
Amounts reclassified from accumulated other comprehensive loss	17		—		(4)		13
Other comprehensive income (loss)	17		19		(1)		35
Balance as of June 30, 2025	$	(414)	$	(277)	$	(46)	$	(737)

Common Stock

Three Months Ended June 30, 2024	Pension and other postretirement benefit plan adjustments, net of tax		Accumulated currency translation adjustments, net of tax		Net unrealized losses on cash flow hedges, net of tax		Total accumulated other comprehensive loss, net of tax
Balance as of March 31, 2024	$	(406)	$	(325)	$	(31)	$	(762)
Other comprehensive (loss) income before reclassifications	—		(31)		4		(27)
Amounts reclassified from accumulated other comprehensive loss	—		—		(4)		(4)
Other comprehensive loss	—		(31)		—		(31)
Balance as of June 30, 2024	$	(406)	$	(356)	$	(31)	$	(793)

Changes in Accumulated other comprehensive loss attributable to Rockwell Automation by component for the following periods were (in millions):

Nine Months Ended June 30, 2024	Pension and other postretirement benefit plan adjustments, net of tax		Accumulated currency translation adjustments, net of tax		Net unrealized losses on cash flow hedges, net of tax		Total accumulated other comprehensive loss, net of tax
Three Months Ended December 31, 2025	Pension and other postretirement benefit plan adjustments, net of tax		Accumulated currency translation adjustments, net of tax		Net unrealized losses on cash flow hedges, net of tax		Total accumulated other comprehensive loss, net of tax
Balance as of September 30, 2023	$	(407)	$	(365)	$	(18)	$	(790)
Balance as of September 30, 2025	$	(335)	$	(281)	$	(41)	$	(657)
Other comprehensive income before reclassifications	—		727		—3		730
Amounts reclassified from accumulated other comprehensive loss	13		2—		~~(13)~~—		~~(10)~~3
Other comprehensive income (loss)	1		9		(13)		(3)
Other comprehensive income	3		27		3		33
Balance as of June 30, 2024	$	(406)	$	(356)	$	(31)	$	(793)
Balance as of December 31, 2025	$	(332)	$	(254)	$	(38)	$	(624)



Three Months Ended December 31, 2024	Pension and other postretirement benefit plan adjustments, net of tax		Accumulated currency translation adjustments, net of tax		Net unrealized losses on cash flow hedges, net of tax		Total accumulated other comprehensive loss, net of tax
Balance as of September 30, 2024	$	(431)	$	(297)	$	(44)	$	(772)
Other comprehensive (loss) income before reclassifications	—		(129)		24		(105)
Amounts reclassified from accumulated other comprehensive loss	5		—		—		5
Other comprehensive income (loss)	5		(129)		24		(100)
Balance as of December 31, 2024	$	(426)	$	(426)	$	(20)	$	(872)

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ROCKWELL AUTOMATION, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(Unaudited)

The reclassifications out of Accumulated other comprehensive loss in the Consolidated Statement of Operations were (in millions):

	Three Months EndedJune 30,					Nine Months EndedJune 30,				Affected Line in the Consolidated Statement of Operations
	Three Months EndedDecember 31,				Affected Line in the Consolidated Statement of Operations
	2025		2024			~~2025~~		~~2024~~
Pension and other postretirement benefit plan adjustments (1)
Amortization of net actuarial loss	$	75	$	—7	Other income	$	22	$	1	~~Other income~~
	7		—			22		1		Income before income taxes
	5		7		Income before income taxes
	(1)		—			(5)		—		Income tax provision
	(2)		(2)		Income tax provision
	$	63	$	—5	Net income attributable to Rockwell Automation, Inc.	$	17	$	1	~~Net income attributable to Rockwell Automation, Inc.~~
Net unrealized losses (gains) on cash flow hedges
Forward exchange contracts	$	—	$	(1)	Sales	$	2	$	~~(3)~~	~~Sales~~
Forward exchange contracts	—1		(52)		Cost of sales	~~(11)~~		~~(18)~~		~~Cost of sales~~
Treasury locks related to 2019 and 2021 debt issuances	1—		1		Interest expense	3		3		~~Interest expense~~
	1		~~(5)~~—		Income before income taxes	~~(6)~~		~~(18)~~		~~Income before income taxes~~
	—		1			2		5		Income tax provision
	(1)		—		Income tax provision
	$	1—	$	~~(4)~~—	Net income attributable to Rockwell Automation, Inc.	$	~~(4)~~	$	~~(13)~~	~~Net income attributable to Rockwell Automation, Inc.~~
Accumulated currency translation adjustments	$	—	$	—		$	—	$	2	Other income
Total reclassifications	$	3	$	5	Net income attributable to Rockwell Automation, Inc.
Total reclassifications	$	7	$	(4)		$	13	$	(10)	Net income attributable to Rockwell Automation, Inc.

(1) These components are included in the computation of net periodic pension and postretirement benefit cost. See Note 109 for further information.

2220

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ROCKWELL AUTOMATION, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(Unaudited)

1312. Commitments and Contingent Liabilities

Various lawsuits, claims, and proceedings have been or may be instituted or asserted against us relating to the conduct of our business, including those pertaining to product liability, environmental, safety and health, intellectual property, employment, and contract matters. Although the outcome of litigation cannot be predicted with certainty and some lawsuits, claims, or proceedings may be disposed of unfavorably to us, we believe the disposition of matters that are pending or have been asserted will not have a material effect on our business, financial condition, or results of operations. The following outlines additional background for obligations associated with asbestos, divested businesses, and intellectual property.

We (including our subsidiaries) have been named as a defendant in lawsuits alleging personal injury as a result of exposure to asbestos that was used in certain components of our products many years ago, including products from divested businesses for which we have agreed to defend and indemnify claims. Currently there are lawsuits that name us as defendants, together with hundreds of other companies. But in all cases, for those claimants who do show that they worked with our products or products of divested businesses for which we are responsible, we nevertheless believe we have meritorious defenses, in substantial part due to the integrity of the products, the encapsulated nature of any asbestos-containing components, and the lack of any impairing medical condition caused by our products. We defend those cases vigorously. However, certain of our agreements relating to divested businesses do not provide us the ability to directly control management of those ~~asbestos~~ claims, and our ongoing reimbursement of outside counsel and other expenses relating to defense of such claims represent the vast majority of our annual asbestos net litigation spend. Historically, we have been dismissed from the vast majority of asbestos claims with no payment to claimants.

Additionally, we have maintained insurance coverage that includes indemnity and defense costs, over and above self-insured retentions, for many of these asbestos claims. We believe these arrangements will provide substantial coverage for future defense and indemnity costs for these ~~asbestos~~ claims for many years into the future. The uncertainties of ~~asbestos~~ claim litigation make it difficult to predict accurately the ultimate outcome ~~of asbestos claims~~. That uncertainty is increased by the possibility of adverse rulings or new legislation affecting ~~asbestos~~ claim litigation or the settlement process. Subject to these uncertainties and based on our experience defending ~~asbestos~~these claims, we do not believe these lawsuits will have a material effect on our business, financial condition, or results of operations.

We have, from time to time, divested certain of our businesses. In connection with these divestitures, certain lawsuits, claims, and proceedings may be instituted or asserted against us related to the period that we owned the businesses, either because we agreed to retain certain liabilities related to these periods or because such liabilities fall upon us by operation of law. In some instances, the divested business has assumed the liabilities; however, it is possible that we might be responsible to satisfy those liabilities if the divested business is unable to do so. We do not believe these liabilities will have a material effect on our business, financial condition, or results of operations.

In many countries we provide a limited intellectual property indemnity as part of our terms and conditions of sale and at times in other contracts with third parties. As of ~~June~~December 3031, 2025, we were not aware of any material indemnification claims that were probable or reasonably possible of an unfavorable outcome. Historically, claims that have been made under the indemnification agreements have not had a material impact on our business, financial condition, or results of operations; however, to the extent that valid indemnification claims arise in the future, future payments by us could be significant and could have a material adverse effect on our business, financial condition, or results of operations in a particular period.

1413. Restructuring Charges

In 2024, we recorded restructuring charges of $97 million ($73 million, net of tax or $0.64 per diluted share) related to actions in conjunction with an enterprise-wide comprehensive program to optimize cost structure and expand margins. The charges included $92 million for severance benefits and $5 million for strategic advisory services related to the targeted severance actions. InDuring ~~the~~2025 ~~Consolidated~~we ~~Statement~~reversed ~~of Operations for the three and nine months ended June 30, 2024, charges totaled~~ $705 million. ~~$23 million~~ of ~~the~~accruals ~~charges~~primarily ~~were~~due ~~recorded~~to inattrition ~~Cost~~without payment of ~~sales, while $47 million were recorded in Selling, general and administrative expenses~~severance.

We expect the total cash expenditures associated with these restructuring actions to be $9792 million. We paid $10 million and $3614 million during the three ~~and nine~~ months ended ~~June 30~~December 31, 2025, ~~respectively,~~ and ~~$17 million during both the three and nine months ended June 30~~2024, ~~2024~~respectively. Accruals remaining under these restructuring actions were $3417 million and $70 27 million at ~~June 30~~December 31, 2025, and September 30, ~~2024~~2025, respectively.

2321

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ROCKWELL AUTOMATION, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(Unaudited)

1514. Income Taxes

At the end of each interim period, we estimate a base effective tax rate that we expect for the full year based on our most recent forecast of pre-tax income, permanent book and tax differences, and global tax planning strategies. We use this base rate to provide for income taxes on a year-to-date basis, excluding the effect of significant unusual items and items that are reported net of their related tax effects in the period in which they occur.

The effective tax rate was 1411.37 percent ~~and 15.8 percent~~ for the three ~~and nine~~ months ended ~~June~~December 3031, 2025, ~~respectively,~~ compared to 916.4 percent ~~and 14.1 percent~~ for the three ~~and nine~~ months ended ~~June~~December 3031, 2024~~, respectively~~. The effective tax rate was lower than the U.S. statutory rate of 21 percent for the three ~~and nine~~ months ended ~~June~~December 3031, 2025, and ~~June 30,~~ 2024, primarily due to higher discrete tax benefits, including a tax benefit related to the ~~geographical~~anticipated ~~mix~~dissolution of ~~pre-tax~~the ~~income~~Sensia joint venture, and ~~discrete~~excess income tax benefits on share-based compensation.

Our final payment of $97 million related to the U.S. transition tax under the Tax Cuts and Jobs Act of 2017 (the “Tax Act”) will be paid in the second quarter of 2026 and is classified in Other current liabilities in the Consolidated Balance Sheet as of ~~June~~December 3031, 2025., ~~This~~and ~~amount was classified in Other liabilities in the Consolidated Balance Sheet as of~~ September 30, ~~2024~~2025.

OnIn ~~July~~October 42021, ~~2025,~~ the ~~One~~Organization ~~Big~~for ~~Beautiful~~Economic ~~Bill~~Cooperation ~~Act~~and Development (~~“OBBBA”~~OECD) ~~was~~and ~~enacted~~G20 inFinance ~~the~~Ministers ~~U.S.~~reached ~~The~~an ~~OBBBA includes significant tax related provisions~~agreement, ~~such~~known as ~~the~~Base ~~permanent~~Erosion ~~extension~~and ofProfit ~~certain~~Shifting ~~expiring~~(BEPS) ~~provisions~~Pillar ofTwo, ~~the Tax Act~~that, ~~modifications~~among toother ~~the international tax framework~~things, ~~and~~ensures ~~the~~that ~~restoration~~income ofearned ~~favorable~~in ~~tax~~each ~~treatment~~jurisdiction ~~for~~that ~~certain~~qualifying ~~business~~multinational ~~provisions.~~enterprises ~~The~~operate ~~OBBBA~~in ~~has~~is ~~multiple~~subject ~~effective~~to ~~dates~~a ~~with~~minimum ~~the~~corporate ~~earliest~~income ~~provisions~~tax ~~taking~~rate ~~effect~~of inat ~~fiscal~~least ~~2025~~15 ~~and~~percent. ~~others~~Discussions ~~beginning~~related into ~~fiscal~~the ~~2026~~formal implementation and ~~beyond.~~enactment ~~ASC~~of ~~740,~~this ~~“Income Taxes”~~agreement, ~~requires~~including within the ~~effects~~tax law of ~~changes~~each inmember ~~tax~~jurisdiction ~~rates~~including ~~and~~the ~~laws~~United onStates, ~~deferred~~are ~~tax~~ongoing. ~~balances~~Certain tocountries behave ~~recognized~~enacted in the ~~period~~Pillar inTwo ~~which~~framework, ~~the~~including ~~legislation~~Singapore, which is ~~enacted.~~expected ~~Consequently,~~to ~~during~~result in the ~~three~~greatest ~~months~~impact ~~ending~~to ~~September 30, 2025,~~ the Company. ~~will~~The ~~continue~~enactment toof ~~evaluate~~this ~~all~~regulation ~~deferred~~applies ~~tax~~beginning ~~balances~~this ~~under~~fiscal ~~the~~year, ~~newly~~resulting ~~enacted~~in ~~tax~~an ~~law~~approximate ~~and~~increase ~~identify~~to ~~any~~our ~~other~~effective ~~changes~~tax torate ~~its~~of ~~financial~~3 ~~statements~~percent as awell ~~result~~as ofin the ~~OBBBA.~~amount Weof ~~are~~global ~~currently~~corporate ~~assessing~~income ~~its~~tax ~~impact~~paid. onFurthermore, ~~our~~the ~~consolidated~~side-by-side ~~financial~~agreement ~~statements~~released ~~and~~by the ~~applicable~~OECD ~~results~~on ofJanuary ~~our~~5, ~~evaluations~~2026, ~~will~~has benot ~~reflected~~altered on the ~~Company’s~~anticipated ~~Form~~increase ~~10-K~~in ~~for~~our ~~the~~effective ~~year~~tax ~~ended September 30, 2025~~rate.

Unrecognized Tax Benefits

The amount of gross unrecognized tax benefits was $3027 million at ~~June~~December 3031, 2025, and $2529 million at September 30, ~~2024~~2025, respectively, of which the entire amount would reduce our effective tax rate if recognized.

Accrued interest and penalties related to unrecognized tax benefits were $2 million at both ~~June~~December 3031, 2025, and September 30, ~~2024~~2025. We recognize interest and penalties related to unrecognized tax benefits in the income tax provision.

We believe it is reasonably possible that the amount of gross unrecognized tax benefits could be reduced by up to $2522 million in the next 12 months as a result of the resolution of tax matters in various global jurisdictions and the lapses of statutes of limitations. If all of the unrecognized tax benefits were recognized, the net reduction to our income tax provision, including the recognition of interest and penalties and offsetting tax assets, could be up to $2623 million.

We conduct business globally and are routinely audited by the various tax jurisdictions in which we operate. We are no longer subject to U.S. federal income tax examinations for years before 2018, state and local income tax examinations for years before 2014, and foreign income tax examinations for years before 2008.

2422

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ROCKWELL AUTOMATION, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(Unaudited)

1615. Business Segment Information

Sales and operating results of our reportable segments were (in millions):

	Three Months EndedJune 30,								Nine Months EndedJune 30,
			Three Months Ended December 31, 2025
	2025				2024				2025				2024
			Intelligent Devices				Software & Control				Lifecycle Services				Total
Sales			$	953			$	629			$	523			$	2,105
Intelligent Devices	$	968			$	957			$	2,670			$	2,858
Less:
Software & Control	629				513				1,726				1,686
Segment cost of sales			(532)				(187)				(344)
Lifecycle Services	547				581				1,630				1,685
Segment selling, general and administrative expenses			(192)				(152)				(93)
Total	$	2,144			$	2,051			$	6,026			$	6,229
Segment engineering and development expenses			(63)				(95)				(14)
Segment operating earnings
Other segment items (1)			(1)				1				2
Intelligent Devices	$	182			$	193			$	461			$	504
Segment operating earnings			$	165			$	196			$	74			435
Software & Control	199				121				503				418
Purchase accounting depreciation and amortization															(32)
Lifecycle Services	73				112				219				264
Corporate and other															(30)
Total	454				426				1,183				1,186
Non-operating pension and postretirement benefit credit															3
Purchase accounting depreciation and amortization	(35)				(35)				(106)				(108)
Net legacy asbestos and environmental charges															(1)
Corporate and other	(40)				(29)				(111)				(97)
Cost associated with dissolution of Sensia															(4)
Non-operating pension and postretirement benefit credit	—				4				—				14
Interest expense, net															(29)
Change in fair value of investments	—				(5)				(3)				1
Income before income taxes															$	342
Restructuring charges	—				(70)				—				(70)
Interest expense, net	(37)				(36)				(109)				(101)
Income before income taxes	$	342			$	255			$	854			$	825

~~Among~~(1) ~~other~~Other ~~considerations, we evaluate performance and allocate resources based upon~~ segment ~~operating~~items ~~earnings~~are ~~before~~primarily ~~purchase~~comprised ~~accounting depreciation and amortization, corporate and other, non-operating pension and postretirement benefit credit, change in fair value~~ of ~~investments,~~foreign ~~restructuring~~currency ~~charges~~adjustments ~~aligned~~for ~~with~~each enterprise-wide strategic initiatives, and interest expense, net. Depending on the product, intersegment sales within a single legal entity are either at cost or cost plus a mark-up, which does not necessarily represent a market price. Sales between legal entities are at an appropriate transfer price. We allocate costs related to shared segment ~~operating activities to the segments consistent with the methodology used by management to assess segment performance~~.


	Three Months Ended December 31, 2024
	Intelligent Devices		Software & Control		Lifecycle Services		Total
Sales	$	806	$	529	$	546	$	1,881
Less:
Segment cost of sales	(439)		(160)		(368)
Segment selling, general and administrative expenses	(183)		(151)		(99)
Segment engineering and development expenses	(61)		(83)		(12)
Other segment items (1)	(3)		(2)		1
Segment operating earnings	$	120	$	133	$	68	321
Purchase accounting depreciation and amortization							(35)
Corporate and other							(35)
Non-operating pension and postretirement benefit credit							—
Net legacy asbestos and environmental charges (2)							(3)
Cost associated with dissolution of Sensia							—
Interest expense, net							(35)
Income before income taxes							$	213

(1) Other segment items are primarily comprised of foreign currency adjustments for each segment.

(2) Legacy asbestos and environmental charges were previously included in Corporate and other. All periods have been recast to conform with current year presentation.

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ROCKWELL AUTOMATION, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(Unaudited)

Among other considerations, we evaluate performance and allocate resources based upon segment operating earnings before purchase accounting depreciation and amortization, corporate and other, non-operating pension and postretirement benefit credit, net legacy asbestos and environmental charges, cost associated with dissolution of Sensia, change in fair value of investments, restructuring charges aligned with enterprise-wide strategic initiatives, and interest expense, net. Our chief operating decision maker (CODM), our Chief Executive Officer, uses segment operating earnings as the key performance metric to regularly monitor performance compared to prior periods, annual operating plan, and forecasts and to make decisions. The Company does not report total assets or capital expenditures by segment for internal reporting purposes as our CODM does not assess performance, make strategic decisions, or allocate resources based on assets.

Depending on the product, intersegment sales within a single legal entity are either at cost or cost plus a mark-up, which does not necessarily represent a market price. Sales between legal entities are at an appropriate transfer price. Segment selling, general and administrative expenses represent costs directly managed by the segments and allocated to the segments. We allocate costs related to shared segment operating activities to the segments consistent with the methodology used by management to assess segment performance.

We conduct a significant portion of our business activities outside the United States. We attribute sales to the geographic regions based on the country of destination. Sales in North America include $1,237 million and $1,052 million related to the U.S. for the three months ended December 31, 2025 and 2024, respectively. Refer to Note 2 for disaggregation of revenue by segment and region.

In most countries, we sell primarily through independent distributors in conjunction with our direct sales force. We sell large systems and service offerings principally through our direct sales force, though opportunities are sometimes identified through distributors. Sales to our two largest distributors in December 31, 2025, and 2024, which are attributable to all three segments, were approximately 20 percent of our total sales.

The following table summarizes the provision for depreciation and amortization for each of the reportable segments and Corporate (in millions):


	Three Months Ended December 31, 2025		Three Months Ended December 31, 2024
Depreciation and amortization
Intelligent Devices	$	17	$	18
Software & Control	20		14
Lifecycle Services	9		10
Corporate	1		1
Total	47		43
Purchase accounting depreciation and amortization	32		35
Total	$	79	$	78

Depreciation expense has been allocated to segment operating earnings based on the expected benefit to be realized by each segment.

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Shareowners of ~~Rockwell Automation, Inc.~~

Rockwell Automation, Inc.

Results of Review of Interim Financial Information

We have reviewed the accompanying consolidated balance sheet of Rockwell Automation, Inc. and subsidiaries (the "Company") as of ~~June~~December 3031, 2025, the related consolidated statements of operations, comprehensive income, cash flows, and shareowners’ equity for the three-month ~~and nine-month~~ periods ended ~~June~~December 3031, 2025 and 2024, and ~~of cash flows for~~ the ~~nine-month periods ended June 30, 2025 and 2024, and the~~ related notes (collectively referred to as the "interim financial information"). Based on our reviews, we are not aware of any material modifications that should be made to the accompanying interim financial information for it to be in conformity with accounting principles generally accepted in the United States of America.

We have previously audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the consolidated balance sheet of the Company as of September 30, ~~2024~~2025, and the related consolidated statements of operations, comprehensive income, cash flows, and shareowners’ equity for the year then ended (not presented herein); and in our report dated November 12, ~~2024~~2025, we expressed an unqualified opinion on those consolidated financial statements and included an explanatory paragraph regarding a change in accounting principle. In our opinion, the information set forth in the accompanying consolidated balance sheet as of September 30, ~~2024~~2025, is fairly stated, in all material respects, in relation to the consolidated balance sheet from which it has been derived.

Basis for Review Results

This interim financial information is the responsibility of the Company's management. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our reviews in accordance with standards of the PCAOB. A review of interim financial information consists principally of applying analytical procedures and making inquiries of persons responsible for financial and accounting matters. It is substantially less in scope than an audit conducted in accordance with the standards of the PCAOB, the objective of which is the expression of an opinion regarding the financial statements taken as a whole. Accordingly, we do not express such an opinion.

/s/ DELOITTE & TOUCHE LLP

Milwaukee, Wisconsin

~~August~~February 65, ~~2025~~2026

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Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

Results of Operations

Forward-Looking Statements

This Quarterly Report on Form 10-Q contains statements (including certain projections and business trends) that are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Words such as “believe”, “estimate”, “project”, “plan”, “expect”, “anticipate”, “will”, “intend”, and other similar expressions may identify forward-looking statements. Actual results may differ materially from those projected as a result of certain risks and uncertainties, many of which are beyond our control, including but not limited to:

•macroeconomic factors, including inflation, global and regional business conditions (including adverse impacts in certain markets, such as Oil & Gas), commodity prices, currency exchange rates, the cyclical nature of our customers’ capital spending, and sovereign debt concerns;

•laws, regulations, and governmental policies affecting our activities in the countries where we do business, including those related to trade policies, including tariffs, taxation, trade controls, cybersecurity, and climate change;

•~~our~~the ~~profitability~~severity and ~~market~~duration ~~competitiveness~~of ~~may~~disruptions beto ~~adversely~~our ~~impacted~~business bydue ~~changes~~to innatural ~~trade~~disasters ~~policies~~(including those as a result of climate change), ~~including~~pandemics, ~~tariffs~~acts of war, strikes, terrorism, social unrest or other ~~factors~~causes;

•the severity and duration of disruptions to our business due to natural disasters (including those as a result of climate change), pandemics, acts of war, strikes, terrorism, social unrest, or other causes;

•the availability and price of components and materials;

•the availability, effectiveness, and security of our information technology systems;

•our ability to manage and mitigate the risk related to security vulnerabilities and breaches of our hardware and software products, solutions, and services;

•the successful execution of our cost productivity and margin expansion initiatives;

•our ability to attract, develop, and retain qualified employees;

•the successful integration and management of strategic transactions and achievement of the expected benefits of these transactions;

•the successful development of advanced technologies and demand for and market acceptance of new and existing hardware and software products;

•our ability to manage and mitigate the risks associated with our solutions and services businesses;

•competitive hardware and software products, solutions, and services, pricing pressures, and our ability to provide high quality products, solutions, and services;

•the availability and cost of capital;

•disruptions to our distribution channels or the failure of distributors to develop and maintain capabilities to sell our products;

•intellectual property infringement claims by others and the ability to protect our intellectual property;

•the uncertainty of claims by taxing authorities in the various jurisdictions where we do business;

•the uncertainties of litigation, including liabilities related to the safety and security of the hardware and software products, solutions, and services we sell;

•our ability to manage costs related to employee retirement and health care benefits; and

•other risks and uncertainties, including but not limited to those detailed from time to time in our Securities and Exchange Commission (SEC) filings.

These forward-looking statements reflect our beliefs as of the date of filing this report. We undertake no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. See Item 1A. Risk Factors, of our Annual Report on Form 10-K for the year ended September 30, ~~2024~~2025, and Item 1A. Risk Factors, of this Quarterly Report on Form 10-Q for more information.

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Non-GAAP Measures

The following discussion includes organic sales, total segment operating earnings and margin, Adjusted Income, Adjusted EPS, Adjusted Effective Tax Rate, and free cash flow, which are non-GAAP measures. See Supplemental Sales Information for a reconciliation of reported sales to organic sales and a discussion of why we believe this non-GAAP measure is useful to investors. See Summary of Results of Operations for a reconciliation of Income before income taxes to total segment operating earnings and margin and a discussion of why we believe these non-GAAP measures are useful to investors. See Adjusted Income, Adjusted EPS, and Adjusted Effective Tax Rate Reconciliation for a reconciliation of Net income attributable to Rockwell Automation, diluted EPS, and effective tax rate to Adjusted Income, Adjusted EPS, and Adjusted Effective Tax Rate, respectively, and a discussion of why we believe these non-GAAP measures are useful to investors. See Financial Condition for a reconciliation of Cash provided by operating activities to free cash flow and a discussion of why we believe this non-GAAP measure is useful to investors.

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Overview

Rockwell Automation, Inc. is the world’s largest company dedicated to industrial automation and digital transformation. Overall demand for our hardware and software products, solutions, and services is driven by:

•investments in manufacturing, including new facilities or production lines, upgrades, modifications and expansions of existing facilities or production lines;

•investments in basic materials production capacity, which may be related to commodity pricing levels;

•our customers’ needs for faster time to market, agility to address evolving consumer preferences, operational productivity, asset management and reliability, and business resilience, including security and enterprise risk management;

•our customers’ needs to continuously improve quality, safety, and sustainability;

•industry factors that include our customers’ new product introductions, demand for our customers’ products or services, and the regulatory and competitive environments in which our customers operate;

•levels of global industrial production and capacity utilization;

•regional factors that include local political, social, regulatory, and economic circumstances; and

•the spending patterns of our customers due to their annual budgeting processes and their working schedules.

Long-term Strategy

As the world’s largest company dedicated to industrial automation and digital transformation, our strategy is to bring the Connected Enterprise® to life. We understand and simplify our customers’ complex production challenges and deliver the most valued solutions that combine technology and industry expertise. As a result, we make our customers more resilient, agile, and sustainable, creating more ways to win. We deliver value by helping our customers optimize production, build resilience, empower people, become more sustainable, and accelerate transformation.

Rockwell Automation stands at the intersection of the technological and societal trends that are shaping the future of industrial operations. We see converging megatrends including digitization and artificial intelligence, energy transition and sustainability, shifting demographics, and an increased need for resiliency.

Our long-term profitable growth framework outlines how we will deliver accelerated growth while we continue to transform our company to meet stakeholder expectations over the longer term:

•achieve faster secular growth in traditional markets due to customer needs for resiliency (including cybersecurity), agility, sustainability, and mitigating impacts of labor shortages;

•grow share and create new ways to win through technology differentiation, industry focus, go to market acceleration, expanded offerings and new markets;

•~~continue~~add ~~double-digit~~1% average annual growth infrom annual recurring revenue;

•add 1% average annual growth from acquisitions; and

•deliver profitable growth within a disciplined financial framework.

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U.S. Economic Trends

In the ~~third~~first quarter of ~~2025~~2026, sales in the U.S. accounted for over half of our total sales. The various indicators we use to gauge the direction and momentum of our served U.S. markets include:

•The Industrial Production (IP) Index, published by the Federal Reserve, which measures the real output of manufacturing, mining, and electric and gas utilities. The Manufacturing IP Index shown in the chart below is expressed as a percentage of real output in a base year, currently 2017.

•The Manufacturing Purchasing Managers’ Index (PMI), published by the Institute for Supply Management (ISM), which indicates the current and near-term state of manufacturing activity in the U.S. According to the ISM, a PMI measure above 50 indicates that the U.S. manufacturing economy is generally expanding while a measure below 50 indicates that it is generally contracting.

The table below depicts trends in these indicators since the quarter ended September ~~2023~~2024. These figures are as of ~~August~~February 65, ~~2025~~2026, and are subject to revision by the issuing organizations. ~~The~~Through December, the IP index did not significantly change from the ~~second~~fourth quarter of fiscal 2025. Manufacturing PMI results remained below 50 for each of the months in the ~~third~~fourth quarter of fiscal 2025 and have been below 50 for ten consecutive months. In January 2026, Manufacturing PMI increased to 52.6, 4.7 points higher than December 2025, and the highest level since August 2022.

	Manufacturing IP Index	PMI
Fiscal 2026 quarter ended:
December 2025	97.4	47.9
Fiscal 2025 quarter ended:
June 2025	100.2	49.0
September 2025	97.5	49.1
March 2025	100.3	49.0
June 2025	96.9	49.0
December 2024	98.9	49.2
March 2025	96.8	49.0
December 2024	95.5	49.2
Fiscal 2024 quarter ended:
September 2024	9995.06	47.5
June 2024	99.4	48.5
March 2024	99.5	50.3
December 2023	99.2	47.1
Fiscal 2023 quarter ended:
September 2023	99.6	49.0

Inflation in the U.S. has also had an impact on our input costs and pricing. The Producer Price Index (PPI), published by the Bureau of Labor Statistics, measures the average change over time in the selling prices received by domestic producers for their output. PPI growth ~~has~~did ~~remained~~not insignificantly ~~the~~change ~~low~~from ~~single digits during~~ the ~~third~~fourth quarter, ~~which~~of ~~is consistent with the prior six quarters. Producer prices continue to remain elevated~~2025, ~~however,~~and ~~year~~remains ~~over~~in ~~year increases remain decelerated from~~ the ~~surges~~low insingle ~~2023 and 2022~~digits.

Non-U.S. Economic Trends

In the ~~third~~first quarter of ~~2025~~2026, sales to customers outside the U.S. accounted for less than half of our total sales. These customers include both indigenous companies and multinational companies with a global presence. In addition to the global factors previously mentioned in the Overview section, international demand, particularly in emerging markets, has historically been driven by the strength of the industrial economy in each region, investments in infrastructure, and expanding consumer markets. We use changes in key countries' gross domestic product (GDP), IP, and PMI as indicators of the growth opportunities in each region where we do business. Industrial ~~production~~output outside the U.S. was mostly positive in the ~~third~~first quarter of fiscal ~~2025~~2026. Manufacturing PMI readings outside the U.S were mixed with readings in Asia Pacific generally better than readings in Europe, Canada, Mexico, and Brazil.

Outlook

We ~~expect~~continue ~~over~~to ~~$250~~manage ~~million~~the impact of ~~year-over-year~~tariffs ~~benefits~~through ~~from~~actions ~~cost~~including ~~reduction~~pricing and ~~margin~~the ~~expansion~~use ~~actions~~of inalternative ~~2025~~sources ~~including~~of ~~continuing~~materials ~~benefits~~and ~~from~~redundant ~~restructuring~~manufacturing locations. Resiliency actions we ~~initiated~~took ~~last~~in ~~year~~recent ~~and~~years ~~benefits~~enable ~~from~~us ~~reduced~~to ~~costs~~build ofcertain ~~direct~~high ~~and~~value ~~indirect~~product ~~purchases,~~lines ~~increased~~in ~~manufacturing~~more ~~efficiency,~~than ~~and~~one ~~price~~geographic location. In consideration of these mitigating actions, tariff costs are expected to be neutral to EPS in fiscal 2026.

WeIn ~~continue~~the first quarter of 2026, we announced plans to ~~manage~~build ~~the~~a ~~impact~~new ofgreenfield ~~tariffs~~manufacturing ~~through~~site ~~actions~~in ~~including~~Southeastern ~~pricing~~Wisconsin, and in the ~~use~~second ofquarter ~~alternative~~we ~~sources~~confirmed ofNew ~~materials~~Berlin, ~~and~~Wisconsin ~~redundant~~as ~~manufacturing~~the ~~locations~~specific site location. ~~Resiliency~~The ~~actions~~facility wehas ~~took~~the inpotential ~~recent~~to ~~years~~be ~~enable~~the uscompany’s tolargest ~~build~~manufacturing ~~certain~~campus ~~high~~globally, ~~value~~with ~~product~~a ~~lines~~significant infootprint ~~more~~and ~~than~~the ~~one~~flexibility ~~geographic~~to ~~location~~scale operations. InAdditionally, ~~consideration~~in January we completed the purchase of ~~these~~our ~~mitigating~~Mequon, ~~actions~~Wisconsin facility, ~~tariff~~which ~~costs~~we ~~are~~had ~~expected~~previously toleased beand ~~neutral~~continue to ~~EPS~~use for engineering and development and manufacturing. These projects are aligned with the previously announced $2 billion investment in plants, digital infrastructure, and talent to grow share, build resilience, and expand margins over the ~~current~~next ~~year~~five years.

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Summary of Results of Operations

The following table reflects our sales and operating results (in millions, except per share amounts and percentages):

	Three Months EndedJune 30,						Nine Months EndedJune 30,
	Three Months EndedDecember 31,
	2025			2024			~~2025~~			~~2024~~
Sales
Intelligent Devices (a)	$	~~968~~953		$	~~957~~806		$	~~2,670~~		$	~~2,858~~
Software & Control (b)	629			~~513~~529			~~1,726~~			~~1,686~~
Lifecycle Services (c)	~~547~~523			~~581~~546			~~1,630~~			~~1,685~~
Total sales (d)	$	2,~~144~~105		$	21,~~051~~881		$	~~6,026~~		$	~~6,229~~
Segment operating earnings (1)
Intelligent Devices (e)	$	~~182~~165		$	~~193~~120		$	~~461~~		$	~~504~~
Software & Control (f)	~~199~~196			~~121~~133			~~503~~			~~418~~
Lifecycle Services (g)	7374			~~112~~68			~~219~~			~~264~~
Total segment operating earnings (2) (h)	~~454~~435			~~426~~321			~~1,183~~			~~1,186~~
Purchase accounting depreciation and amortization	(3532)			(35)			~~(106)~~			~~(108)~~
Corporate and other	(4030)			(2935)			~~(111)~~			~~(97)~~
Non-operating pension and postretirement benefit credit	—3			4—			—			14
Change in fair value of investments	—			(5)			(3)			1
Net legacy asbestos and environmental charges (3)	(1)			(3)
Restructuring charges	—			(70)			—			(70)
Cost associated with dissolution of Sensia	(4)			—
Interest expense, net	(3729)			(3635)			~~(109)~~			~~(101)~~
Income before income taxes (i)	342			~~255~~213			~~854~~			~~825~~
Income tax provision	(4940)			(2435)			~~(135)~~			~~(116)~~
Net income	~~293~~302			~~231~~178			~~719~~			~~709~~
Net loss attributable to noncontrolling interests	(23)			(16)			~~(12)~~			~~(4)~~
Net income attributable to Rockwell Automation	$	~~295~~305		$	~~232~~184		$	~~731~~		$	~~713~~
Diluted EPS	$	2.6069		$	21.0261		$	~~6.43~~		$	~~6.19~~
Adjusted EPS (3)	$	2.82		$	2.71		$	7.11		$	7.25
Adjusted EPS (4)	$	2.75		$	1.85
Diluted weighted average outstanding shares	~~113~~112.09			~~114~~113.25			~~113.2~~			~~114.7~~
Pre-tax margin (i/d)	16.02		%	1211.43		%	~~14.2~~		%	~~13.2~~		%
Intelligent Devices segment operating margin (e/a)	1817.83		%	2014.29		%	~~17.3~~		%	~~17.6~~		%
Software & Control segment operating margin (f/b)	31.62		%	2325.61		%	~~29.1~~		%	~~24.8~~		%
Lifecycle Services segment operating margin (g/c)	1314.31		%	1912.35		%	~~13.4~~		%	~~15.7~~		%
Total segment operating margin (2) (h/d)	2120.27		%	2017.81		%	~~19.6~~		%	~~19.0~~		%

~~(1) See Note 16 in the Consolidated Financial Statements for the definition of segment operating earnings.~~29

~~(2)~~Table Total segment operating earnings and total segment operating margin are non-GAAP financial measures. We exclude purchase accounting depreciation and amortization, corporate and other, non-operating pension and postretirement benefit credit, change in fair value of investments, restructuring charges aligned with enterprise-wide strategic initiatives, and interest expense, net, because we do not consider these items to be directly related to the operating performance of our segments. We believe total segment operating earnings and total segment operating margin are useful to investors as measures of operating performance. We use these measures to monitor and evaluate the profitability of our operating segments. Our measures of total segment operating earnings and total segment operating margin may be different from measures used by other companies.Contents

(31) ~~Adjusted EPS is a non-GAAP earnings measure.~~ See ~~Adjusted~~Note ~~Income,~~15 ~~Adjusted~~in ~~EPS,~~the ~~and~~Consolidated ~~Adjusted~~Financial ~~Effective~~Statements ~~Tax Rate Reconciliation~~ for ~~more~~the ~~information~~definition onof ~~this~~segment ~~non-GAAP~~operating ~~measure~~earnings.

(2) Total segment operating earnings and total segment operating margin are non-GAAP financial measures. We exclude purchase accounting depreciation and amortization, corporate and other, non-operating pension and postretirement benefit credit, net legacy asbestos and environmental charges, cost associated with dissolution of Sensia, change in fair value of investments, restructuring charges aligned with enterprise-wide strategic initiatives, and interest expense, net because we do not consider these items to be directly related to the operating performance of our segments. We believe total segment operating earnings and total segment operating margin are useful to investors as measures of operating performance. We use these measures to monitor and evaluate the profitability of our operating segments. Our measures of total segment operating earnings and total segment operating margin may be different from measures used by other companies.

(3) Legacy asbestos and environmental charges were previously included in Corporate and other. Three months ended December 31, 2024 has been recast to conform to current year presentation.

(4) Adjusted EPS is a non-GAAP earnings measure. See Adjusted Income, Adjusted EPS, and Adjusted Effective Tax Rate Reconciliation for more information on this non-GAAP measure.

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Three ~~and Nine~~ Months Ended ~~June~~December 3031, 2025, Compared to Three ~~and Nine~~ Months Ended ~~June~~December 3031, 2024

Sales

Sales increased 512 percent ~~and decreased 3 percent~~ year over year in the three ~~and nine~~ months ended ~~June~~December 3031, 2025~~, respectively~~. Organic sales increased 410 percent ~~and decreased 2 percent~~ year over year in the three ~~and nine~~ months ended ~~June~~December 3031, 2025~~, respectively~~. Currency translation increased sales by ~~less~~2 ~~than one 1~~ percent ~~and decreased sales by 1 percent~~ in the three ~~and nine~~ months ended ~~June~~December 3031, 2025~~, respectively~~. ~~Pricing~~Volume increased total company sales by approximately 37 ~~percentage~~percent ~~points and 2 percentage points~~ year over year in the three ~~and nine~~ months ended ~~June~~December 3031, 2025, ~~respectively,~~driven ~~realized~~by ~~primarily in~~ the ~~Intelligent Devices and~~ Software & Control and Intelligent Devices segments. ~~Volume~~Pricing increased total company sales by approximately 13 ~~percentage~~percent ~~point~~ year over year in the three months ended ~~June~~December 3031, 2025, driven by the ~~Software & Control segment. Volume decreased total company sales by approximately 5 percentage points year over year in the nine months ended June 30, 2025, driven by the~~ Intelligent Devices segment.

The ~~tables~~table below presents our sales, attributed to the geographic regions based upon country of destination, and the percentage change from the same period a year ago (in millions, except percentages):

			Change vs.		Change in Organic Sales (1) vs.
	Three Months Ended June 30, 2025		Three Months Ended June 30, 2024		Three Months Ended June 30, 2024
	Three Months Ended December 31, 2025		Three Months Ended December 31, 2024		Three Months Ended December 31, 2024
North America	$	1,~~354~~339	716	%	716	%
Europe, Middle East, and Africa	~~392~~372		1012	%	54	%
Asia Pacific	~~266~~255		2	%	2	%
Latin America	~~132~~139		(216)	%	(1412)	%
Total Company Sales	$	2,~~144~~105	512	%	410	%

			Change vs.		Change in Organic Sales (1) vs.
	Nine Months Ended June 30, 2025		Nine Months Ended June 30, 2024		Nine Months Ended June 30, 2024
North America	$	3,792	—	%	—	%
Europe, Middle East, and Africa	1,082		(5)	%	(6)	%
Asia Pacific	744		(8)	%	(7)	%
Latin America	408		(13)	%	(4)	%
Total Company Sales	$	6,026	(3)	%	(2)	%

(1) Organic sales and organic sales growth exclude the effect of acquisitions, changes in currency exchange rates, and divestitures. See Supplemental Sales Information for information on these non-GAAP measures.

Corporate and Other

Corporate and other expenses were $4030 million ~~and $111 million~~ in the three ~~and nine~~ months ended ~~June~~December 3031, 2025, ~~respectively,~~ compared to $2935 million ~~and $97 million~~ in the three ~~and nine~~ months ended ~~June~~December 3031, 2024~~, respectively~~.

Restructuring Charges

Restructuring charges were $70 million in the three and nine months ended June 30, 2024, which relate to actions in conjunction with an enterprise-wide comprehensive program to optimize cost structure and expand margins. See Note 14 in the Consolidated Financial Statements for more information on our restructuring charges.

Income before Income Taxes

Income before income taxes ~~was~~increased to $342 million ~~and~~in the three months ended December 31, 2025, from $~~854~~213 million in the three ~~and nine~~ months ended ~~June~~December 3031, ~~2025,~~2024. ~~respectively,~~Pre-tax margin was 16.2% in the first quarter of 2026 compared to ~~$255~~11.3% ~~million~~in ~~and~~the first quarter of 2025. Total segment operating earnings increased to $~~825~~435 million in the three ~~and nine~~ months ended ~~June~~December 3031, ~~2024~~2025, ~~respectively.~~from ~~The~~$321 ~~increase~~million in the three ~~and nine~~ months ended ~~June~~December 3031, ~~2025,~~2024. Total segment operating margin in the first quarter of 2026 was 20.7% compared to 17.1% in the first quarter of 2025. Pre-tax margin and total segment operating margin increased primarily due to ~~restructuring~~higher ~~charges~~sales ~~taken~~volume, inpositive ~~the~~impact ~~prior~~of ~~year~~price realization exceeding input costs, including productivity, and favorable mix, partially offset by higher compensation.

~~Total~~Income segment operating earnings increased 7 percent year over year in the three months ended June 30, 2025, primarily due to productivity, the positive impact of price realization, and favorable mix, partially offset by higher compensation and unfavorable currency. Total segment operating earnings decreased less than 1 percent year over year in the nine months ended June 30, 2025.Taxes

The effective tax rate for the three months ended December 31, 2025, was 11.7 percent compared to 16.4 percent for the three months ended December 31, 2024. The decrease in the effective tax rate was primarily due to higher discrete tax benefits, including a tax benefit related to the anticipated dissolution of the Sensia joint venture, and excess income tax benefits on share-based compensation. Our Adjusted Effective Tax Rate for the three months ended December 31, 2025, was 17.3 percent compared to 17.7 percent for the three months ended December 31, 2024.

In October 2021, the Organization for Economic Cooperation and Development (OECD) and G20 Finance Ministers reached an agreement, known as Base Erosion and Profit Shifting (BEPS) Pillar Two, that, among other things, ensures that income earned in each jurisdiction that qualifying multinational enterprises operate in is subject to a minimum corporate income tax rate of at least 15 percent. Discussions related to the formal implementation and enactment of this agreement, including within the tax law of each member jurisdiction including the United States, are ongoing. Certain countries have enacted the Pillar Two framework, including Singapore, which is expected to result in the greatest impact to the Company. The enactment of this regulation applies beginning this fiscal year, resulting in an approximate increase in our effective tax rate of 3 percent as well as in the amount of global corporate income tax paid. Furthermore, the side-by-side agreement released by the OECD on January 5, 2026, has not altered the anticipated increase in our effective tax rate.

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Income Taxes

The effective tax rates for the three and nine months ended June 30, 2025, were 14.3 percent and 15.8 percent, respectively, compared to 9.4 percent and 14.1 percent for the three and nine months ended June 30, 2024, respectively. Our Adjusted Effective Tax Rates for the three and nine months ended June 30, 2025, were 15.2 percent and 16.6 percent, respectively, compared to 13.3 percent and 15.1 percent for the three and nine months ended June 30, 2024, respectively. The increase in both the effective tax rate and the Adjusted Effective Tax Rate was primarily due to lower discrete benefits in the current year.

In October 2021, the Organization for Economic Cooperation and Development (OECD) and G20 Finance Ministers reached an agreement, known as Base Erosion and Profit Shifting (BEPS) Pillar Two, that, among other things, ensures that income earned in each jurisdiction that qualifying multinational enterprises operate in is subject to a minimum corporate income tax rate of at least 15%. Discussions related to the formal implementation and enactment of this agreement, including within the tax law of each member jurisdiction including the United States, are ongoing. Certain countries have enacted the Pillar Two framework, including Singapore, which is expected to result in the greatest impact to the Company. Enactment of this regulation in its current form would generally apply to the Company beginning in fiscal year 2026, which could result in an increase in our effective tax rate of 2 to 3 percent as well as in the amount of global corporate income tax paid.

In addition to BEPS Pillar Two, other items could also affect our effective tax rate, many of which are outside of our control,

including:

•changes in the valuation of our deferred tax assets and liabilities, and in deferred tax valuation allowances;

•changes in the relative proportions of revenue and income before taxes in the various jurisdictions in which we operate

•that have differing statutory tax rates;

•changing tax laws, regulations, rates and interpretations in multiple jurisdictions in which we operate;

•changes to the financial accounting rules for income taxes;

•the tax effects of acquisitions; and

•the resolution and timing of issues arising from tax audits.

On July 4, 2025, the OBBBA was enacted in the U.S. The OBBBA includes significant tax related provisions, such as the permanent extension of certain expiring provisions of the Tax Act, modifications to the international tax framework, and the restoration of favorable tax treatment for certain business provisions. We are currently assessing its impact on our consolidated financial statements and the applicable results of our evaluations will be reflected on the Company’s Form 10-K for the year ended September 30, 2025.

Diluted EPS and Adjusted EPS

~~2025~~Fiscal ~~third~~2026 first quarter Net income attributable to Rockwell Automation was $~~295~~305 million or $2.6069 per share, compared to $~~232~~184 million or $21.0261 per share in the ~~third~~first quarter of ~~2024.~~fiscal 2025. ~~third~~The ~~quarter~~increases in Net income attributable to Rockwell Automation and diluted EPS were primarily due to higher pre-tax margin and a lower effective tax rate. Adjusted EPS was $2.8275 in the first quarter of 2026, up 449 percent compared to $21.7185 in the ~~third~~first quarter of ~~2024~~2025, primarily due to higher segment operating margin.

Net income attributable to Rockwell Automation was $731 million or $6.43 per share in the nine months ended June 30, 2025, compared to $713 million or $6.19 per share in the nine months ended June 30, 2024. Adjusted EPS was $7.11 in the nine months ended June 30, 2025, down 2 percent compared to $7.25 in the nine months ended June 30, 2024.

Intelligent Devices

Sales

Intelligent Devices ~~reported and organic~~ sales increased 118 percent year over year in the three months ended ~~June~~December 3031, 2025. ~~Sales decreased 7 percent year over year in the nine months ended June 30, 2025.~~ Organic sales ~~decreased~~increased 616 percent year over year, inand the ~~nine months ended June 30, 2025. The~~ effects of currency translation ~~decreased~~increased sales by 12 ~~percentage~~percent ~~point~~ year over year in the ~~nine~~three months ended ~~June~~December 3031, 2025. For the three months ended ~~June~~December 3031, 2025, reported sales increased in ~~Europe,~~all ~~Middle East and Africa and Asia Pacific~~regions, ~~were~~except ~~flat~~for inLatin ~~North~~ America, and ~~decreased in Latin America. For the three months ended June 30, 2025,~~ organic sales increased in North America and ~~Europe, Middle East and Africa, were flat in~~ Asia -Pacific, ~~and~~while ~~decreased~~decreasing in Latin America. ~~For~~and ~~the nine months ended June 30~~Europe, ~~2025,~~Middle ~~reported sales decreased in all regions. For the nine months ended June 30~~East, ~~2025,~~and ~~organic sales decreased in all regions except Latin America~~Africa.

Segment Operating Margin

Intelligent Devices segment operating earnings ~~decreased~~increased 638 percent year over year in the three months ended ~~June~~December 3031, 2025. Segment operating margin ~~decreased~~increased to 1817.83 percent in the three months ended ~~June~~December 3031, 2025, from 2014.29 percent in the same period a year ago, primarily due to higher ~~compensation~~sales ~~and unfavorable net currency~~volume, partially offset by ~~productivity~~the ~~and~~effects ~~the~~of ~~positive~~currency ~~impact~~translation ofand ~~price~~higher ~~realization~~compensation.

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Intelligent Devices segment operating earnings decreased 9 percent year over year in the nine months ended June 30, 2025. Segment operating margin decreased to 17.3 percent in the nine months ended June 30, 2025, from 17.6 percent in the same period a year ago.

Software & Control

Sales

Software & Control sales increased 2319 percent ~~and 2 percent~~ year over year in the three ~~and nine~~ months ended ~~June~~December 3031, 2025~~, respectively~~. Organic sales increased 2217 percent ~~and 3 percent~~ year over year, inand the ~~three and nine months ended June 30, 2025, respectively. The~~ effects of currency translation increased sales by 12 ~~percentage~~percent ~~point~~ year over year in the three months ended ~~June~~December 3031, 2025. ~~The effects of currency translation decreased sales by 1 percentage point year over year in the nine months ended June 30, 2025.~~ For the three months ended ~~June~~December 3031, 2025, reported and organic sales increased in all regions ~~except Latin America~~. ~~For the nine months ended June 30, 2025, reported and organic sales decreased in all regions except for North America.~~

Segment Operating Margin

Software & Control segment operating earnings increased 6447 percent year over year in the three months ended ~~June~~December 3031, 2025. Segment operating margin increased to 31.62 percent in the three months ended ~~June~~December 3031, 2025, from 2325.61 percent in the same period a year ago, primarily due to higher sales volume, ~~the positive impact of price realization, and productivity,~~ partially offset by higher compensation.

Software & Control segment operating earnings increased 20 percent year over year in the nine months ended June 30, 2025. Segment operating margin increased to 29.1 percent in the nine months ended June 30, 2025, from 24.8 percent in the same period a year ago, primarily due to productivity and the positive impact of price realization, partially offset by higher compensation.

Lifecycle Services

Sales

Lifecycle Services ~~reported and organic~~ sales decreased 64 percent ~~and 3 percent~~ year over year in the three ~~and nine~~ months ended ~~June~~December 3031, 2025~~, respectively~~. ~~For~~Organic ~~the three months ended June 30, 2025, reported~~ sales decreased in6 ~~all regions except Europe~~percent, ~~Middle East,~~ and ~~Africa. For~~ the ~~three~~effects ~~months~~of ~~ended~~currency ~~June 30,~~translation ~~2025,~~increased ~~organic~~ sales ~~decreased~~by in2 ~~all~~percent ~~regions.~~year ~~For~~over year in the ~~nine~~three months ended ~~June~~December 3031, 2025~~, reported sales decreased in all regions~~. For the ~~nine~~three months ended ~~June~~December 3031, 2025, reported and organic sales decreased in all regions, except ~~North~~Europe, ~~America~~Middle East and Africa.

Segment Operating Margin

Lifecycle Services segment operating earnings ~~decreased~~increased 359 percent ~~and 17 percent~~ year over year in the three ~~and nine~~ months ended ~~June~~December 3031, 2025~~, respectively~~. Segment operating margin ~~decreased~~increased to 1314.31 percent ~~and 13.4 percent~~ in the three ~~and nine~~ months ended ~~June~~December 3031, 2025, ~~respectively,~~ from 1912.35 percent ~~and 15.7 percent, respectively,~~ in the same period a year ago, primarily due to ~~higher~~productivity ~~compensation~~ and ~~lower~~project ~~sales volume~~execution, partially offset by ~~productivity~~lower sales volume and higher compensation.

3332

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Supplemental Segment Information

Purchase accounting depreciation and amortization, and non-operating pension and postretirement benefit credit, ~~and restructuring charges~~ are not allocated to our operating segments because these costs are excluded from our measurement of each segment's operating performance for internal purposes. If we were to allocate these costs, we would attribute them to each of our segments as follows (in millions):

	Three Months EndedJune 30,				Nine Months EndedJune 30,
	Three Months EndedDecember 31,
	2025		2024		~~2025~~		~~2024~~
Purchase accounting depreciation and amortization
Intelligent Devices	$	910	$	9	$	28	$	29
Software & Control	1617		17		49		51
Lifecycle Services	95		9		28		28
Non-operating pension and postretirement benefit credit
Intelligent Devices	$	—(1)	$	~~(2)~~—	$	—	$	~~(6)~~
Software & Control	—(1)		~~(1)~~—		—		~~(5)~~
Lifecycle Services	—(2)		(21)		~~(1)~~		~~(7)~~
Restructuring charges
Intelligent Devices	$	—	$	32	$	—	$	32
Software & Control	—		24		—		24
Lifecycle Services	—		13		—		13

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Adjusted Income, Adjusted EPS, and Adjusted Effective Tax Rate Reconciliation

Adjusted Income, Adjusted EPS, and Adjusted Effective Tax Rate are non-GAAP earnings measures that exclude non-operating pension and postretirement benefit credit, purchase accounting depreciation and amortization attributable to Rockwell Automation, net legacy asbestos and environmental charges, cost and tax items associated with dissolution of Sensia attributable to Rockwell Automation, change in fair value of investments, and restructuring charges aligned with enterprise-wide strategic initiatives, including their respective tax effects. ~~Non-operating pension and postretirement benefit credit is defined as all components of our net periodic pension and postretirement benefit cost except for service cost.~~ See Note 109 in the Consolidated Financial Statements for more information on our net periodic pension and postretirement benefit cost.

In fiscal 2026, we updated the definition of our non-GAAP earnings measures to exclude cost, net of tax, and tax items associated with the anticipated dissolution of the Sensia joint venture attributable to Rockwell Automation. We recognized these costs and tax items in fiscal 2026 in conjunction with a fiscal 2025 decision by the partners to pursue dissolution, which is expected to close on April 1, 2026. We believe the change to our definition provides a more useful presentation of our operating performance to investors as these costs and tax effects are not reflective of our ongoing operations. We did not revise prior years because there were no similar amounts.

We believe that Adjusted Income, Adjusted EPS, and Adjusted Effective Tax rate provide useful information to our investors about our operating performance and allow management and investors to compare our operating performance period over period. Adjusted EPS is also used as a financial measure of performance for our annual incentive compensation. Our measures of Adjusted Income, Adjusted EPS, and Adjusted Effective Tax Rate may be different from measures used by other companies. These non-GAAP measures should not be considered a substitute for Net Income attributable to Rockwell Automation, diluted EPS, and effective tax rate.

The following are reconciliations of Net income attributable to Rockwell Automation, diluted EPS, and effective tax rate to Adjusted Income, Adjusted EPS, and Adjusted Effective Tax Rate, respectively (in millions, except per share amounts and percentages):


	Three Months Ended December 31,
	2025			2024
Net income attributable to Rockwell Automation	$	305		$	184
Non-operating pension and postretirement benefit credit	(3)			—
Tax effect of non-operating pension and postretirement credit	1			—
Purchase accounting depreciation and amortization attributable to Rockwell Automation	31			33
Tax effect of purchase accounting depreciation and amortization attributable to Rockwell Automation	(7)			(8)
Net legacy asbestos and environmental charges	1			3
Tax effect of legacy asbestos and environmental charges	—			(1)
Cost associated with dissolution of Sensia attributable to Rockwell Automation	3			—
Tax effects associated with dissolution of Sensia attributable to Rockwell Automation	$	(20)		$	—
Adjusted Income	$	311		$	211

Diluted EPS	$	2.69		$	1.61
Non-operating pension and postretirement benefit credit, net of tax	(0.02)			—
Purchase accounting depreciation and amortization attributable to Rockwell Automation, net of tax	0.22			0.22
Net legacy asbestos and environmental charges, net of tax	0.01			0.02
Cost, net of tax, and tax items associated with dissolution of Sensia attributable to Rockwell Automation	(0.15)			—


Adjusted EPS	$	2.75		$	1.85

Effective tax rate	11.7		%	16.4		%
Tax effect of non-operating pension and postretirement benefit credit	(0.2)		%	—		%
Tax effect of purchase accounting depreciation and amortization attributable to Rockwell Automation	0.9		%	1.1		%
Tax effect of net legacy asbestos and environmental charges	(0.1)		%	0.2		%
Tax effect associated with dissolution of Sensia attributable to Rockwell Automation	5.0		%	—		%


Adjusted Effective Tax Rate	17.3		%	17.7		%

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	Three Months EndedJune 30,						Nine Months EndedJune 30,
	2025			2024			2025			2024
Net income attributable to Rockwell Automation	$	295		$	232		$	731		$	713
Non-operating pension and postretirement benefit credit	—			(4)			—			(14)
Tax effect of non-operating pension and postretirement benefit credit	(1)			1			(1)			3
Purchase accounting depreciation and amortization attributable to Rockwell Automation	33			33			98			100
Tax effect of purchase accounting depreciation and amortization attributable to Rockwell Automation	(7)			(6)			(22)			(17)
Change in fair value of investments	—			5			3			(1)
Tax effect of change in fair value of investments	—			(2)			(1)			(1)
Restructuring charges (1)	—			70			—			70
Tax effect of restructuring charges (1)	—			(18)			—			(18)
Adjusted Income	$	320		$	311		$	808		$	835
Diluted EPS	$	2.60		$	2.02		$	6.43		$	6.19
Non-operating pension and postretirement benefit credit	—			(0.04)			—			(0.13)
Tax effect of non-operating pension and postretirement benefit credit	(0.01)			0.01			(0.01)			0.02
Purchase accounting depreciation and amortization attributable to Rockwell Automation	0.29			0.28			0.86			0.87
Tax effect of purchase accounting depreciation and amortization attributable to Rockwell Automation	(0.06)			(0.05)			(0.19)			(0.15)
Change in fair value of investments	—			0.04			0.03			(0.01)
Tax effect of change in fair value of investments	—			(0.01)			(0.01)			—
Restructuring charges (1)	—			0.61			—			0.61
Tax effect of restructuring charges (1)	—			(0.15)			—			(0.15)
Adjusted EPS	$	2.82		$	2.71		$	7.11		$	7.25
Effective tax rate	14.3		%	9.4		%	15.8		%	14.1		%
Tax effect of non-operating pension and postretirement benefit credit	0.3		%	(0.2)		%	0.1		%	(0.1)		%
Tax effect of purchase accounting depreciation and amortization attributable to Rockwell Automation	0.6		%	0.4		%	0.6		%	0.2		%
Tax effect of change in fair value of investments	—		%	0.3		%	0.1		%	—		%
Tax effect of restructuring charges (1)	—		%	3.4		%	—		%	0.9		%
Adjusted Effective Tax Rate	15.2		%	13.3		%	16.6		%	15.1		%

(1) Restructuring charges in the three and nine months ended June 30, 2024, include $65 million for severance benefits and $5 million for strategic advisory services related to the enterprise-wide severance actions.

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Financial Condition

The following is a summary of our cash flows from operating, investing, and financing activities, as reflected in the Consolidated Statement of Cash Flows (in millions):

	Nine Months EndedJune 30,
	Three Months EndedDecember 31,
	2025		2024
Cash provided by (used for)
Operating activities	$	~~1,090~~234	$	~~432~~364
Investing activities	(~~165~~69)		(~~920~~83)
Financing activities	(~~904~~153)		(~~187~~254)
Effect of exchange rate changes on cash	3		2(27)
Increase (decrease) in cash and cash equivalents	$	24	$	(673)
Increase in cash, cash equivalents, and cash included in assets held for sale	$	15	$	—

The following table summarizes free cash flow, which is a non-GAAP financial measure (in millions):

	Nine Months EndedJune 30,
	Three Months EndedDecember 31,
	2025		2024
Cash provided by operating activities	$	~~1,090~~234	$	~~432~~364
Capital expenditures	(~~137~~64)		(~~160~~71)
Free cash flow	$	~~953~~170	$	~~272~~293

Our definition of free cash flow takes into consideration capital investments required to maintain the operations of our businesses and execute our strategy. Cash provided by operating activities adds back non-cash depreciation expense to earnings but does not reflect a charge for necessary capital expenditures. Our definition of free cash flow excludes the operating cash flows and capital expenditures related to our discontinued operations, if any. Operating, investing, and financing cash flows of our discontinued operations, if any, are presented separately in our Consolidated Statement of Cash Flows. In our opinion, free cash flow provides useful information to investors regarding our ability to generate cash from business operations that is available for acquisitions and other investments, service of debt principal, dividends, and share repurchases. We use free cash flow, as defined, as one measure to monitor and evaluate our performance, including as a financial measure for our annual incentive compensation. Our definition of free cash flow may be different from definitions used by other companies.

Cash provided by operating activities was $~~1,090~~234 million for the ~~nine~~three months ended ~~June~~December 3031, 2025, compared to $~~432~~364 million for the ~~nine~~three months ended ~~June~~December 3031, 2024. Free cash flow was $~~953~~170 million for the ~~nine~~three months ended ~~June~~December 3031, 2025, compared to $~~272~~293 million for the ~~nine~~three months ended ~~June~~December 3031, 2024. The year over year ~~increases~~decreases in cash provided by operating activities and free cash flow were primarily due to ~~higher~~the ~~pre-tax income, no~~ payout of incentive compensation in the first quarter of fiscal 2026 related to fiscal 2025 performance while no incentive compensation was paid in fiscal 2025 related to fiscal 2024 performance, and ~~lower~~increases in working capital, partially offset by higher pre-tax ~~payments~~income.

Our Short-term debt as of ~~June~~December 3031, 2025, included commercial paper borrowings of $~~260~~ 671 million, with a weighted average interest rate of 43.5189 percent, and a weighted average maturity period of 1132 days. Our Short-term debt as of September 30, ~~2024~~2025, included commercial paper borrowings of $~~657~~522 million, with a weighted average interest rate of 54.1424 percent, and a weighted average maturity period of 2416 days. InIncluded ~~December 2022, Sensia entered into an unsecured $75 million line of credit. As of June 30, 2025, and September 30, 2024, included~~ in ~~Short-term~~Current ~~debt~~portion ~~was $70 million borrowed against the line~~ of ~~credit with an interest rate of 5.32 percent and 6.17 percent, respectively. Also included in Short~~long-term debt as of ~~June~~December 3031, 2025, ~~and September 30, 2024,~~ was $1462 million ~~and~~related ~~$42 million, respectively, of interest-bearing loans from Schlumberger (SLB)~~ to ~~Sensia.~~the Inpurchase ~~April 2025, $14 million~~ of ~~new~~the ~~interest-bearing~~Mequon ~~loans~~facility ~~from~~in ~~SLB~~January ~~to Sensia were entered into and are due October 15, 2025. The loans outstanding as of September 30, 2024, were extended to October 15,~~ 2026, ~~and~~referenced ~~are included~~ in ~~Long-term~~Note ~~debt~~1 asin ofthe ~~June 30,~~Consolidated ~~2025~~Financial Statements.

37In December 2022, Sensia entered into an unsecured $75 million line of credit. There were no borrowings outstanding under the line of credit as of December 31, 2025, as the credit line matured and closed and outstanding debt was settled with loans from the joint venture partners. As of September 30, 2025, included in Short-term debt was $70 million borrowed against the line of credit with an interest rate of 5.18 percent. Also included in Short-term debt as of December 31, 2025, were the following interest-bearing loans from Schlumberger (SLB) to Sensia: $42 million due October 15, 2026, $14 million which in February 2026 was extended to be due June 15, 2026, and $33 million entered into in December 2025, and due June 10, 2026. As of September 30, 2025, the $14 million of interest-bearing loans and $42 million of interest-bearing loans were included in Short-term debt and Long-term debt, respectively. Pursuant to the separation agreement referenced in Note 1 in the Consolidated Financial Statements, all intercompany debt will be settled by the joint venture parents upon dissolution.

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InWe ~~May~~repurchased ~~2025,~~approximately we0.4 ~~entered~~million ~~into~~shares aof ~~$500 million~~our ~~senior~~common ~~unsecured~~stock ~~364-day~~under ~~term~~our ~~loan~~share ~~credit~~repurchase ~~agreement~~program ~~and~~in ~~were~~the ~~advanced~~first ~~the~~three ~~full~~months ~~loan~~of ~~amount~~2026. ~~This~~The ~~agreement~~total iscost inof ~~addition~~these toshares ~~our~~was ~~existing~~ $~~1.5 billion~~154 ~~unsecured~~million, ~~revolving~~of ~~credit~~which ~~facility~~$2 ~~expiring~~million inwas ~~June~~recorded ~~2027,~~in ~~which~~Accounts ~~remains~~payable ~~outstanding~~at ~~and~~December 31, ~~undrawn.~~2025, ~~Borrowings~~related ~~under~~to ~~this~~shares ~~term~~that ~~loan~~did ~~bear~~not ~~interest~~settle ~~based~~until onJanuary ~~Secured~~2026. ~~Overnight~~Excise ~~Financing~~tax ~~Rates~~of ~~(SOFR)~~$1 inmillion ~~effect~~was paid during the ~~period~~three ~~the~~months ~~borrowings~~ended ~~are~~December 31, ~~outstanding~~2024, ~~and~~related ~~the~~to ~~interest~~our ~~rate~~2023 asshare ofrepurchases. ~~June~~At September 30, 2025, ~~was~~there ~~5.45~~were ~~percent~~$1 million of outstanding common stock share repurchases recorded in Accounts payable. ~~The~~We ~~term~~repurchased ~~loan~~approximately ~~agreement~~0.4 ~~contains~~million ~~covenants~~shares ~~similar~~of toour ~~those~~common stock under our $1share repurchase program in the first three months of 2025.~~5 billion~~ ~~unsecured~~The ~~revolving~~total ~~credit~~cost ~~facility~~of these shares was $99 million, ~~under~~of which we$1 ~~agree~~million towas ~~maintain~~recorded anin ~~EBITDA-to-interest~~Accounts ~~ratio~~payable of at ~~least~~December 31, ~~3.0~~2024, related to ~~1.0.~~shares ~~The~~that ~~EBITDA-to-interest~~did ~~ratio~~not issettle ~~defined~~until inJanuary ~~the~~2025. ~~term~~Our ~~loan~~decision ~~agreement~~to asrepurchase shares in the ~~ratio~~remainder of ~~consolidated~~2026 ~~EBITDA~~will ~~(as~~depend ~~defined~~on inbusiness ~~the~~conditions, ~~term~~free ~~loan~~cash ~~agreement)~~flow ~~for~~generation, ~~the~~other ~~preceding~~cash ~~four~~requirements, ~~quarters~~and tostock ~~consolidated~~price. ~~interest~~At ~~expense~~December 31, ~~for~~2025, ~~the~~we ~~same~~had ~~period.~~approximately We$773 ~~were~~million inremaining ~~compliance~~for ~~with~~share ~~all~~repurchases ~~covenants~~ under our ~~credit~~existing ~~agreement~~board ~~and~~authorization. ~~credit~~See ~~facilities~~Part ~~at June 30~~II, ~~2025,~~Item 2. Unregistered Sales of Equity Securities and ~~September 30~~Use of Proceeds, ~~2024~~for additional information regarding share repurchases.

We ~~repurchased~~expect ~~approximately~~future ~~1.3~~uses ~~million shares~~ of ~~our~~cash ~~common~~to ~~stock~~include ~~under~~capital ~~our share repurchase program in the first nine months of 2025. The total cost of these shares was $350 million~~expenditures, ofworking ~~which~~capital ~~$1 million was recorded in Accounts payable at June 30~~requirements, ~~2025,~~dividends ~~related~~ to ~~shares that did not settle until July 2025. At September 30~~shareowners, ~~2024, there were no significant outstanding common stock share~~ repurchases ~~recorded in Accounts payable. We repurchased approximately 1.7 million shares~~ of ~~our~~ common stock, ~~under~~repayments ~~our share repurchase program in the first nine months~~ of ~~2024. The total cost of these shares was $476 million~~debt, ofadditional ~~which~~contributions $1to ~~million~~our ~~was~~retirement ~~recorded in Accounts payable at June 30~~plans, ~~2024,~~and ~~related~~acquisitions toof ~~shares~~businesses ~~that~~and ~~did~~other ~~not~~inorganic ~~settle until July 2024~~investments. ~~Our~~We ~~decision~~expect to ~~repurchase~~fund ~~shares~~future inuses ~~the remainder~~ of ~~2025~~cash ~~will~~with ~~depend~~a oncombination ~~business~~of ~~conditions,~~existing ~~free~~ cash ~~flow generation~~balances, ~~other~~ cash ~~requirements,~~generated ~~and~~by ~~stock~~operating ~~price. On May 2~~activities, ~~2022,~~commercial ~~and~~paper ~~September 11~~borrowings, ~~2024,~~or ~~the~~new ~~Board~~issuances of ~~Directors~~debt ~~authorized~~or usother ~~to expend an additional $1~~securities.0 ~~billion~~In ~~to repurchase shares of our common stock. At June 30~~addition, ~~2025,~~ we ~~had~~have ~~approximately~~access ~~$996~~to ~~million~~unsecured ~~remaining~~credit ~~for~~facilities ~~share~~with ~~repurchases~~various ~~under our existing board authorization~~banks. ~~See Part II, Item 2. Unregistered Sales of Equity Securities and Use of Proceeds, for additional information regarding share repurchases.~~

WeAt ~~expect~~December 31, ~~future~~2025, ~~uses~~the majority of ~~cash~~our toCash ~~include~~and ~~working~~cash ~~capital~~equivalents ~~requirements,~~were ~~capital~~held ~~expenditures,~~by ~~dividends~~non-U.S. tosubsidiaries. ~~shareowners,~~We ~~repurchases~~use ofa ~~common~~global ~~stock,~~cash ~~repayments~~pooling ofarrangement ~~debt,~~to ~~additional~~allocate ~~contributions~~capital toresources among our ~~retirement~~entities. ~~plans,~~As ~~and~~a ~~acquisitions~~result of ~~businesses~~the ~~and~~broad ~~other~~changes ~~inorganic~~to ~~investments~~the U.S. Weinternational ~~expect~~tax tosystem ~~fund~~under ~~future~~the ~~uses~~Tax ofAct, ~~cash~~the ~~with~~Company aaccounts ~~combination~~for oftaxes ~~existing~~on ~~cash~~earnings ~~balances,~~of ~~cash~~substantially ~~generated~~all byof ~~operating~~its ~~activities,~~non-U.S. ~~commercial~~subsidiaries ~~paper~~including ~~borrowings,~~both ornon-U.S. ~~new~~and ~~issuances~~U.S. oftaxes. ~~debt~~The orCompany ~~other~~has ~~securities.~~concluded Inthat ~~addition,~~earnings weof ~~have~~a ~~access~~limited tonumber ~~unsecured~~of ~~credit~~its ~~facilities~~non-U.S. ~~with~~subsidiaries ~~various~~are ~~banks.~~indefinitely reinvested.

AtIn ~~June 30,~~November 2025, ~~the~~we ~~majority~~replaced of our ~~Cash~~former ~~and~~$1.5 ~~cash~~billion ~~equivalents~~unsecured ~~were~~revolving ~~held~~credit byfacility ~~non~~with a new five-Uyear $1.S.5 ~~subsidiaries~~billion unsecured revolving credit facility, expiring in November 2030. WeThis ~~use~~credit afacility ~~global~~uses ~~cash~~the ~~pooling~~secured ~~arrangement~~overnight tofunding ~~efficiently~~rate ~~manage~~(SOFR) ~~liquidity~~as ~~among~~the ~~our~~primary ~~entities~~basis for determining interest payments. AsWe acan ~~result~~increase the aggregate amount of ~~the~~this ~~broad~~credit ~~changes~~facility by up to $750 million, subject to the Uconsent of the banks in the credit facility.S. ~~international~~We ~~tax~~did ~~system~~not ~~under~~borrow against this credit facility during the ~~Tax~~quarter ~~Act~~ended December 31, 2025, or against our prior credit facility during the ~~Company~~quarter ~~accounts~~ended ~~for~~September 30, ~~taxes~~2025. onThe ~~earnings~~terms of ~~substantially~~this ~~all~~credit offacility ~~its~~contain ~~non-U.S.~~covenants ~~subsidiaries~~under ~~including~~which ~~both~~we ~~non~~agree to maintain an EBITDA-Uto-interest ratio of at least 3.S.0 ~~and~~to U1.S0. ~~taxes.~~ The ~~Company~~EBITDA-to-interest ~~has~~ratio ~~concluded~~is ~~that~~defined ~~earnings~~in ofthe acredit ~~limited~~facility ~~number~~as the ratio of ~~its~~consolidated ~~non-U.S.~~EBITDA ~~subsidiaries~~for ~~are~~the ~~indefinitely~~preceding ~~reinvested~~four quarters to consolidated interest expense for the same period.

In June 2022, we replaced our former $1.25 billion unsecured revolving credit facility with a new five-year $1.5 billion unsecured revolving credit facility, expiring in June 2027. This credit facility uses the secured overnight funding rate (SOFR) as the primary basis for determining interest payments. We can increase the aggregate amount of this credit facility by up to $750 million, subject to the consent of the banks in the credit facility. We did not borrow against this credit facility during the periods ended June 30, 2025, or September 30, 2024. Borrowings under this credit facility bear interest based on short-term money market rates in effect during the period the borrowings are outstanding. The terms of this credit facility contain covenants under which we agree to maintain an EBITDA-to-interest ratio of at least 3.0 to 1.0. The EBITDA-to-interest ratio is defined in the credit facility as the ratio of consolidated EBITDA (as defined in the facility) for the preceding four quarters to consolidated interest expense for the same period.

Among other uses, we can draw on our credit facility as a standby liquidity facility to repay our outstanding commercial paper as it matures. This access to funds to repay maturing commercial paper is an important factor in maintaining the short-term credit ratings set forth in the table below. Under our current policy with respect to these ratings, we expect to limit our other borrowings under our credit facility, if any, to amounts that would leave enough credit available under the facility so that we could borrow, if needed, to repay all of our then outstanding commercial paper as it matures.

Separate short-term unsecured credit facilities of approximately $~~275~~276 million at ~~June~~December 3031, 2025, were available to non-U.S. subsidiaries, of which, approximately $3435 million was committed under letters of credit. Borrowings under our non-U.S. credit facilities at ~~June~~December 3031, 2025, and September 30, ~~2024~~2025, were not significant. We were in compliance with all covenants under our credit facilities at December 31, 2025, and September 30, 2025. There are no significant commitment fees or compensating balance requirements under our credit facilities.

The following is a summary of our credit ratings as of ~~August~~February 65, ~~2025~~2026:

Credit Rating Agency

Short-Term Rating

Long-Term Rating

Outlook

Standard & Poor’s

A-2

A-

Stable

Moody’s

P-2

Stable

Fitch Ratings

Stable

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Our ability to access the commercial paper market, and the related costs of these borrowings, is affected by the strength of our credit ratings and market conditions. We have not experienced any difficulty in accessing the commercial paper market. If our access to the commercial paper market is adversely affected due to a change in market conditions or otherwise, we would expect to rely on a combination of available cash and our unsecured committed credit facility to provide short-term funding. In such event, the cost of borrowings under our unsecured committed credit facility could be higher than the cost of commercial paper borrowings.

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We regularly monitor the third-party depository institutions that hold our cash and cash equivalents and short-term investments. We diversify our cash and cash equivalents and short-term investments among counterparties to minimize exposure to any one of these entities.

We use foreign currency forward exchange contracts to manage certain foreign currency risks. We enter into these contracts to hedge our exposure to foreign currency exchange rate variability in the expected future cash flows associated with certain third-party and intercompany transactions denominated in foreign currencies forecasted to occur within the next two years. We also may use these contracts to hedge portions of our net investments in certain non-U.S. subsidiaries against the effect of exchange rate fluctuations on the translation of foreign currency balances to the U.S. dollar. ~~There~~In ~~were~~2025 nowe ~~open~~entered ~~net~~into ~~investment~~cross-currency ~~hedges~~swaps ~~for~~that ~~the~~we ~~nine~~designated ~~months~~as ~~ended~~a ~~June 30,~~partial ~~2025~~hedge of our net investment in certain Euro, orSwiss ~~September 30~~franc, ~~2024~~and Chinese yuan functional currency denominated subsidiaries. In addition, we use foreign currency forward exchange contracts that are not designated as hedges to offset transaction gains or losses associated with some of our assets and liabilities resulting from intercompany loans or other transactions with third parties that are denominated in currencies other than our entities' functional currencies. Our foreign currency forward exchange contracts are ~~usually~~ denominated in currencies of major industrial countries. We diversify our foreign currency forward exchange contracts among counterparties to minimize exposure to any one of these entities.

Net gains and losses related to derivative forward exchange contracts designated as cash flow hedges offset the related gains and losses on the hedged items during the periods in which the hedged items are recognized in earnings. During the three months ended ~~June~~ December 3031, 2025, we reclassified $1 million in pre-tax net losses related to cash flow hedges ~~reclassified~~ from Accumulated other comprehensive loss into the Consolidated Statement of Operations. ~~During the nine months ended June 30, 2025, we reclassified $6 million in pre~~Pre-tax net ~~gains~~losses related to cash flow hedges reclassified from Accumulated other comprehensive loss into the Consolidated Statement of Operations. ~~During~~were ~~the~~not ~~three~~significant ~~and~~during ~~nine~~the three months ended ~~June~~December 3031, 2024~~, we reclassified $5 million and $18 million, respectively, in pre-tax net gains related to cash flow hedges from Accumulated other comprehensive loss into the Consolidated Statement of Operations~~. As of ~~June~~December 3031, 2025, we expect that approximately $189 million of pre-tax net unrealized losses on cash flow hedges will be reclassified into earnings during the next 12 months.

Information with respect to our contractual cash obligations is contained in Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations, of our Annual Report on Form 10-K for the year ended September 30, ~~2024~~2025. We believe that at ~~June~~December 3031, 2025, there has been no material change to this information.

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Supplemental Sales Information

We translate sales of subsidiaries operating outside of the United States using exchange rates effective during the respective period. Therefore, changes in currency exchange rates affect our reported sales. Sales by acquired businesses also affect our reported sales. We believe that organic sales, defined as sales excluding the effects of acquisitions and changes in currency exchange rates, which is a non-GAAP financial measure, provides useful information to investors because it reflects regional and operating segment performance from the activities of our businesses without the effect of acquisitions and changes in currency exchange rates. We use organic sales as one measure to monitor and evaluate our regional and operating segment performance. When we acquire businesses, we exclude sales in the current period for which there are no comparable sales in the prior period. We determine the effect of changes in currency exchange rates by translating the respective period’s sales using the same currency exchange rates that were in effect during the prior year. When we divest a business, we exclude sales in the prior period for which there are no comparable sales in the current period. Organic sales growth is calculated by comparing organic sales to reported sales in the prior year, excluding divestitures. We attribute sales to the geographic regions based on the country of destination.

The following is a reconciliation of reported sales to organic sales by geographic region (in millions):

Three Months Ended June 30, 2025

Three Months Ended June 30, 2024

Three Months Ended December 31, 2025

Three Months Ended December 31, 2024

Reported Sales

~~Less: Effect ofAcquisitions~~

Effect ofChanges inCurrency

Organic Sales

Reported Sales

North America

1,~~354~~339

—

(1)

1,~~355~~338

1,~~268~~150

Europe, Middle East, and Africa

~~392~~372

—

1726

~~375~~346

~~356~~332

Asia Pacific

~~266~~255

—

(1)

~~265~~256

~~260~~251

Latin America

~~132~~139

—

~~(12)~~9

~~144~~130

~~167~~148

Total Company Sales

2,~~144~~105

—

535

2,~~139~~070

21,~~051~~881

	Nine Months Ended June 30, 2025						Nine Months Ended June 30, 2024
	Reported Sales		Less: Effect ofAcquisitions		Effect ofChanges inCurrency		Organic Sales		Reported Sales
North America	$	3,792	$	2	$	(11)	$	3,801	$	3,809
Europe, Middle East, and Africa	1,082		—		7		1,075		1,143
Asia Pacific	744		—		(6)		750		806
Latin America	408		—		(42)		450		471
Total Company Sales	$	6,026	$	2	$	(52)	$	6,076	$	6,229

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The following is a reconciliation of reported sales to organic sales by operating segment (in millions):

	Three Months Ended June 30, 2025							Three Months Ended June 30, 2024
	Three Months Ended December 31, 2025						Three Months Ended December 31, 2024
	Reported Sales		~~Less: Effect ofAcquisitions~~		Effect ofChanges inCurrency			Organic Sales		Reported Sales
Intelligent Devices	$	~~968~~953	$	—	$	116		$	~~967~~937	$	~~957~~806
Software & Control	629		—		210			~~627~~619		~~513~~529
Lifecycle Services	~~547~~523		—		29			~~545~~514		~~581~~546
Total Company Sales	$	2,~~144~~105	$	—	$	535		$	2,~~139~~070	$	21,~~051~~881

	Nine Months Ended June 30, 2025						Nine Months Ended June 30, 2024
	Reported Sales		Less: Effect ofAcquisitions		Effect ofChanges inCurrency		Organic Sales		Reported Sales
Intelligent Devices	$	2,670	$	—	$	(27)	$	2,697	$	2,858
Software & Control	1,726		—		(14)		1,740		1,686
Lifecycle Services	1,630		2		(11)		1,639		1,685
Total Company Sales	$	6,026	$	2	$	(52)	$	6,076	$	6,229

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Critical Accounting Estimates

We have prepared the Consolidated Financial Statements in accordance with accounting principles generally accepted in the United States, which require us to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the Consolidated Financial Statements and revenues and expenses during the periods reported. These estimates are based on our best judgment about current and future conditions, but actual results could differ from those estimates. Information with respect to accounting estimates that are the most critical to the understanding of our financial statements as they could have the most significant effect on our reported results and require subjective or complex judgments by management is contained in Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations, of our Annual Report on Form 10-K for the year ended September 30, ~~2024~~2025. We believe that at ~~June~~December 3031, 2025, there has been no material change to this information.

Environmental Matters

Information with respect to the effect of compliance with environmental protection requirements and resolution of environmental claims on us and our manufacturing operations is contained in Note 17 in the Consolidated Financial Statements in Item 8. Financial Statements and Supplementary Data, of our Annual Report on Form 10-K for the year ended September 30, ~~2024~~2025. We believe that at ~~June~~December 3031, 2025, there has been no material change to this information.

Recent Accounting Pronouncements

See Note 1 in the Consolidated Financial Statements regarding recent accounting pronouncements.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

Information with respect to our exposure to foreign currency risk and interest rate risk is contained in Item 7A. Quantitative and Qualitative Disclosures About Market Risk, of our Annual Report on Form 10-K for the year ended September 30, ~~2024~~2025. We believe that at ~~June~~December 3031, 2025, there has been no material change to this information.

Item 4. Controls and Procedures

Disclosure Controls and Procedures: We, with the participation of our Chief Executive Officer and Chief Financial Officer, have evaluated the effectiveness of our disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (Exchange Act)) as of the end of the quarter covered by this report. Based on that evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that, as of the end of the quarter covered by this report, our disclosure controls and procedures were effective.

Internal Control Over Financial Reporting: There has not been any change in our internal control over financial reporting (as such term is defined in Exchange Act Rule 13a-15(f)) during the quarter to which this report relates that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

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PART II. OTHER INFORMATION

Item 1. Legal Proceedings

Information with respect to our legal proceedings is contained in Item 3. Legal Proceedings, of our Annual Report on Form 10-K for the year ended September 30, ~~2024~~2025. We believe that at ~~June~~December 3031, 2025, there has been no material change to this information.

Item 1A. Risk Factors

Information about our most significant risk factors is contained in Item 1A. Risk Factors, of our Annual Report on Form 10-K for the year ended September 30, ~~2024~~2025. We believe that at ~~August~~December 631, 2025, there has been no material change to this information~~, except as updated in our Quarterly Report on Form 10-Q filed February 10, 2025, which update is noted below~~.

Our profitability and market competitiveness may be adversely impacted by changes in trade policies, including tariffs or other factors.

Changes in trade policies, including the imposition of new tariffs or increases in existing tariffs between the United States, Mexico, Canada, China or other countries, or reactionary measures including retaliatory tariffs, legal challenges, or currency manipulation, could adversely affect our cost structure and profitability. If tariffs on imported materials, components, or finished goods increase, our manufacturing and supply chain costs may rise. Furthermore, changes to trade policies, retaliatory measures, or prolonged uncertainty in trade relationships could result in supply chain disruptions, delayed shipments, or increased operational complexity, adversely affecting our business and financial results. While we take steps to mitigate or avoid these increased costs and disruptions, our ability to do so may be limited by operational and supply chain constraints, especially in the short term. In addition, our ability to recover cost increases and maintain profitability levels through price adjustments may be limited by competitive pressures, customer acceptance, and contractual limitations.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

Share Repurchases

The table below sets forth information with respect to purchases made by or on behalf of us of shares of our common stock during the three months ended ~~June~~December 3031, 2025:

Period	Total Number of Shares Purchased (1)	Average Price Paid Per Share (2)		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	Maximum Approx. Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (3)
April 1-30, 2025	288,616	$	235.46	288,616	$	1,050,658,228
October 1-31, 2025	149,500	$	352.58	149,500	$	874,168,546
May 1-31, 2025	125,313	283.68		125,313	1,015,109,769
November 1-30, 2025	117,000	378.94		117,000	829,832,468
June 1-30, 2025	60,000	323.20		60,000	995,717,902
December 1-31, 2025	143,000	399.33		143,000	772,728,087
Total	~~473~~409,~~929~~500	$	~~259~~376.3244	~~473~~409,~~929~~500

(1) All of the shares purchased during the quarter ended ~~June~~December 3031, 2025, were acquired pursuant to the repurchase ~~programs~~program described in (3) below.

(2) Average price paid per share includes brokerage commissions.

(3) On ~~May 2, 2022, and~~ September 11, 2024, the Board of Directors authorized us to expend an additional $1.0 billion to repurchase shares of our common stock. Our repurchase ~~programs~~program ~~allow~~allows us to repurchase shares at management’s discretion or at our broker’s discretion pursuant to a share repurchase plan subject to price and volume parameters.

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Item 5. Other Information

During the quarter ended ~~June~~December 3031, 2025, the following officers of the Company adopted Rule 10b5-1 trading arrangements that are each intended to satisfy the affirmative defense of Rule 10b5-1(c) promulgated under the Exchange Act, with such details of the arrangements as further follows:

•~~Blake~~Matheus D.De ~~Moret~~A G Viera Bulho, ~~President~~Senior ~~and~~Vice ~~Chief~~President, ~~Executive~~Software ~~Officer~~and Control, adopted a Rule 10b5-1 trading arrangement on ~~May~~November 3026, 2025, that will terminate on the earlier of ~~May~~October 2931, 2026, or the execution of all trades in the trading arrangement. Mr. ~~Moret~~Bulho’s trading arrangement covers the (i) ~~exercise~~sale of 241,~~400~~250 ~~stock~~long ~~options and the sale of the underlying~~ shares of the Company’s common stock, and (ii) exercise of 61up to 4,~~700~~706 stock options and the sale of the underlying shares of the Company's common stock ~~and (iii) sale of the number of shares of the Company’s common stock required to be sold to cover taxes on upcoming restricted stock unit and performance share vests~~.

•~~Cyril~~Robert ~~Perducat~~L. Buttermore, Senior Vice President and Chief ~~Technology~~Supply Chain Officer, adopted a Rule 10b5-1 trading arrangement on ~~May~~November 3026, 2025, that will terminate on the earlier of ~~April~~October 1031, 2026, or the execution of all trades in the trading arrangement. Mr. ~~Perducat'~~Buttermore’s trading arrangement covers ~~the sale of~~ (i) the ~~number~~sale of 400 long shares of the Company'’s common stock ~~having~~and a(ii) ~~value~~the exercise of up to ~~$500~~8,~~000,~~532 ~~and~~stock ~~(ii)~~options and the ~~number~~sale of the underlying shares of the Company's common stock ~~required to be sold to cover taxes on upcoming restricted stock unit and performance share vests~~.

•~~Terry~~Matthew ~~Riesterer~~W. Fordenwalt, Senior Vice President, ~~Global~~Lifecycle ~~Finance Operations and Controller~~Services, adopted a Rule 10b5-1 trading arrangement on ~~May~~November 3026, 2025, that will terminate on the earlier of ~~December~~ October 31, 2026, or the execution of all trades in the trading arrangement. Mr. ~~Riesterer'~~Fordenwalt’s trading arrangement covers ~~(i)~~ the ~~sale of 800 shares of the Company's common stock,~~ (iii) ~~the~~ exercise of 23,~~100~~000 stock options and the sale of the underlying shares of the Company's common stock, and (~~iii~~ii) ~~the~~ sale of the number of shares of the Company'’s common stock required to be sold to cover taxes on upcoming restricted stock unit ~~and performance share vests~~vest.

•~~Isaac~~Scott ~~Woods~~A. Genereux, Senior Vice President and ~~Treasurer~~Chief Revenue Officer, adopted a Rule 10b5-1 trading arrangement on ~~May~~November 3026, 2025, that will terminate on the earlier of ~~January~~October 31, 2026, or the execution of all trades in the trading arrangement. Mr. ~~Wood'~~Genereux’s trading arrangement covers the (i) ~~the exercise of 365 stock options and the~~ sale of ~~the~~1,750 ~~underlying~~long shares of the Company'’s common stock, and (ii) ~~the~~exercise ~~sale~~ of ~~250~~16,207 ~~shares of the Company's common~~ stock, options and ~~(iii)~~ the sale of the ~~number~~underlying of shares of the Company'’s common stock ~~required to be sold to cover taxes on upcoming restricted stock unit and performance share vests~~.

•~~Matheus~~Rebecca DeW. ~~A G Viera Bulho~~House, Senior Vice President, ~~Software~~Chief People and ~~Controls~~Legal Officer, and Secretary, adopted a Rule 10b5-1 trading arrangement on ~~May~~November 3026, 2025, that will terminate on the earlier of ~~April~~October 231, 2026, or the ~~expiration~~execution of all trades in the trading arrangement. MrMs. ~~Bulho'~~House’s trading arrangement covers ~~(i)~~ the exercise of 512,~~528~~100 stock options and the sale of the underlying shares of the Company's common stock, (ii) the sale of the shares of the Company’s common stock remaining following the sale to cover taxes on the vesting of 776 restricted stock units on June 6, 2025, and (iii) the sale of the number of shares of the Company's common stock required to be sold to cover taxes on upcoming restricted stock unit and performance share vests.

~~For~~•Tessa ~~the~~M. ~~arrangements~~Myers, ~~above~~Senior ~~referencing~~Vice ~~transactions~~President, toIntelligent ~~sell~~Devices, ~~shares~~adopted toa ~~cover~~Rule ~~taxes~~10b5-1 trading arrangement on ~~vests~~November 26, ~~the~~2025, ~~aggregate~~that ~~number~~will ofterminate ~~shares~~on tothe beearlier ~~sold~~of ~~pursuant~~October to31, ~~each~~2026, ~~trading~~or ~~arrangement~~the ~~described~~execution ~~above~~of isall ~~dependent~~trades onin the ~~taxes~~trading onarrangement. ~~the~~Ms. ~~applicable~~Myers’ ~~restricted~~trading ~~stock~~arrangement ~~unit~~covers ~~and~~the ~~performance~~sale ~~share~~of ~~vests~~1,985 ~~and,~~long ~~therefore,~~shares isof ~~indeterminable~~the atCompany’s ~~this~~common ~~time~~stock.

~~During~~•Christopher ~~the quarter ended June 30~~Nardecchia, ~~2025,~~Senior noVice ~~director~~President orand ~~officer~~Chief ofInformation ~~the~~Officer, ~~Company~~ adopted ~~or terminated~~ a ~~“non-~~Rule 10b5-1 trading arrangement on November 26,” as2025, ~~defined~~that inwill ~~Item~~terminate ~~408~~on the earlier of ~~Regulation~~October ~~S-K~~31, no2026, ~~director~~or the execution of ~~the~~all ~~Company,~~trades ~~other~~in ~~than~~the trading arrangement. Mr. ~~Moret,~~Nardecchia’s ~~adopted~~trading orarrangement ~~terminated~~covers athe ~~Rule~~exercise ~~10b5-1~~of ~~trading~~up ~~arrangement~~to 17,003 stock options and nothe ~~officer~~sale of the ~~Company~~underlying ~~terminated~~shares aof ~~Rule~~the ~~10b5-1~~Company's ~~trading~~common ~~arrangement~~stock.

44•Christian Rothe, Senior Vice President and Chief Financial Officer, adopted a Rule 10b5-1 trading arrangement on November 25, 2025, that will terminate on the earlier of August 20, 2026, or the execution of all trades in the trading arrangement. Mr. Rothe’s trading arrangement covers the sale of the number of shares of the Company’s common stock required to be sold to cover taxes on upcoming restricted stock unit vest.

•Isaac Woods, Vice President and Treasurer, adopted a Rule 10b5-1 trading arrangement on November 26, 2025, that will terminate on the earlier of October 31, 2026, or the execution of all trades in the trading arrangement. Mr. Woods’ trading arrangement covers the (i) sale of the number of shares not exceeding the value of $150,000, (ii) exercise of up to 900 stock options and the sale of the underlying shares of the Company's common stock, and (iii) sale of the number of shares of the Company’s common stock required to be sold to cover taxes on an upcoming restricted stock unit vest.

For the arrangements above referencing transactions to sell shares to cover taxes on vests, the aggregate number of shares to be sold pursuant to each trading arrangement described above is dependent on the taxes on the applicable restricted stock unit vests, and, therefore, is indeterminable at this time.

During the quarter ended December 31, 2025, no director or officer of the Company adopted or terminated a “non-Rule 10b5-1 trading arrangement,” as defined in Item 408 of Regulation S-K, no director of the Company adopted or terminated a Rule 10b5-1 trading arrangement, and no officer of the Company terminated a Rule 10b5-1 trading arrangement.

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Item 6. Exhibits

(a) Exhibits:

Exhibit 10.1

—

$1,500,000,000 ~~364~~Five-~~Day~~Year ~~Term~~Credit ~~Loan~~ Agreement dated as of ~~May~~November 1618, 2025, among the Company, the Banks listed on the signature pages ~~thereto,~~thereof and Bank of America, N.A., as Administrative Agent, ~~U.S. Bank National Association, as Syndication Agent, and The Toronto-Dominion Bank, New York Branch and Wells Fargo Bank, National Association, as Documentation Agents,~~ filed as Exhibit 99 to the Company’'s Current Report on Form 8-K dated ~~May~~November 1921, 2025, is hereby incorporated by reference.

Exhibit 15

—

Letter of Deloitte & Touche LLP regarding Unaudited Financial Information.

Exhibit 31.1

—

Certification of Periodic Report by the Chief Executive Officer pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934.

Exhibit 31.2

—

Certification of Periodic Report by the Chief Financial Officer pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934.

Exhibit 32.1

—

Certification of Periodic Report by the Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

Exhibit 32.2

—

Certification of Periodic Report by the Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

Exhibit 101

—

Interactive Data Files.

Exhibit 104

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Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

ROCKWELL AUTOMATION, INC.(Registrant)

Date:

~~August~~February 65, ~~2025~~2026

/s/ CHRISTIAN E. ROTHE

Christian E. RotheSenior Vice President andChief Financial Officer(Principal Financial Officer)

Date:

~~August~~February 65, ~~2025~~2026

/s/ TERRY L. RIESTERER

Terry L. RiestererVice President and Controller(Principal Accounting Officer)

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