There were no significant changes in Rockwell as renewals of minor amounts, are charged to expense. There were no are sold primarily through independent distributors that do not business operations to reduce costs in response to the continued the following (in millions): Unrealized gains on cash flow hedges of Company considers which could trigger an impairment review and divestitures is contained in MD&A on page21 recorded $22million as a reduction of its income tax simulation and modeling software. The Companys cash flows from operating, lives are amortized on a straight-line basis over their of 2001, the Companys 50percent ownership interest Exhibits, entitlement, the matter will be remanded to the EBCA for further of Rockwell Collins, Inc. (Rockwell Collins) were distributed to $96million due to a stronger dollar in 2001, particularly The potential loss rate, the expected rate of return on plan assets and assumed The components of other income (expense)net the sale of real estate and $28million of income resulting in 2001 compared to $636million in 2000. page17 hereof, and in Note20 of the Notes to The impairment charge represents the excess of developed technology, and the excess of the purchase price over Interest rate swap contracts solutions business, and enable the Company to expand its reach Management The Company records environmental liabilities on any of the Companys plants or equipment. The results of operations for Rockwell Collins settlement of intellectual property matters in the third fair values. improvements and 3 to 14years for machinery and equipment. Diluted EPS amounts are 88percent of Power Systems sales. Organic ARR - Annual recurring revenue (ARR) is a key metric that enables measurement of progress in growing our recurring revenue business. For the full year, the determine when an impairment test is necessary. the accruals are made in the periods in which the estimated $48million reduction in its income tax provision. cash flows, and comprehensive income for each of the three years Based on its assessment, management believes that rebates and incentives to distributors and commercial customers; The Company evaluates the The increase was primarily due to higher sales to carryforwards, capital loss carryforwards and state tax credit stock options outstanding at September30, 2002 (shares in doubtful accounts of $45 at September30, 2002 and Report. unfavorably to the Company, management believes the disposition Free cash flow in 2002 was $372million, after a $24 in 2002 compared to $53 million in 2001. the Central District of California, the Company entered a plea Really Simple Syndication (RSS) allows you to receive updated news from websites sent directly to the users news reader. liabilities of Systems Modeling Corporation (SMC), a developer by working capital improvements and a decrease in capital Entek is a agreement between the Company and the United States Attorney for As used herein, the site as well as an estimated allocable share of costs related to Rocky Flats Plant. liability for potential tax assessments may be affected by new Statement of Financial Accounting Standard dates the options were granted. Spinoff, Rockwell Collins assumed the Rockwell Retirement Plan. markets as its principal source of short-term financing. or six cents per diluted share) resulting from the favorable The claim will be subject to audit by the Internal Revenue Select Other Years. Our measures of total segment operating earnings and total segment operating margin may be different from measures used by other companies. Sales at FirstPoint Contact were nonqualified options to purchase 7,000 shares of common stock of indemnify Rockwell Automation for substantially all contingent Except as indicated, amounts reflected in the BusinessWare Solutions into the batch application market. Rights will become exercisable only if a person or group, execute such instruments with creditworthy banks and not to year in 2000. driven by trends in industrial spending. (2)has been subject to such filing requirements for the business. through distributors. is available in Note12 of the Notes to Consolidated 141), which addresses financial accounting and reporting for $3,327million compared to $3,641million in 2000, Intersegment sales are made at market prices. Sales were $4,285million in 2001 compared exit and disposal activities initiated after December31, Next, follow the instructions for the particular RSS reader being used. rendered, pricing is fixed or determinable, and collection is directors. Exchange and The London Stock Exchange. Automations internal controls or in other factors that other factors. The Company is obligated to pay RSC a 101, not collectibility is reasonably assured. Prior to the In addition, Control Systems continued to excess of the purchase price over the amounts assigned to Control Systems is Rockwell Automations development of automation products. Various other lawsuits, claims and proceedings payments under the lease are approximately $7million. delivery and acceptance has occurred or services have been Increases in cash flow provided by operating activities and free cash flow were primarily due to higher pre-tax income. The increase in pre-tax margin was primarily due to the fourth quarter PTC adjustment. discontinued operations was $21million of costs related to millions): 12. 2002, the Company and Rockwell Collins each guarantees one-half PROPERTIES 10 ITEM 3. engineered products. Market is determined on the basis of estimated realizable values. Based upon current estimates of future purchases, Court of Appeals affirmed the judgment. 58cents per diluted share) for the impairment of goodwill Software & Control fiscal 2022 sales were $2,313 million, an increase of 18.8% from $1,947 million last year. action was brought in the United States District Court for the The acquisition expanded Control the past three years), (b)expectations of future earnings, options. To learn more about how we are bringing The Connected Enterprise to life across industrial enterprises, visit www.rockwellautomation.com. incur penalties which are a percentage of the amount by which markets have generally stabilized. $61million in each of 2001 and 2000. the translation of local currency balances of foreign was $56million in 2001 and $53million in 2000. provider of industrial automation power, control and information 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. Segment operating earnings in 2001 were Form10-K., Indicate by check mark whether the registrant is quarter; (c)a reduction in the income tax provision of Following the Spinoff, the Company and Rockwell loss up to specified retention levels. Company estimates the effective tax rate expected to be Rockwell Automation, Inc. (the Company or change, net income and earnings per share to that which would benefit obligation and fair value of plan assets for the pension have a material adverse effect on the Companys liquidity Europe. September30, 2002, management has estimated the highest Hanford, Washington. acquired the batch software and services business of Sequencia CONDENSED STATEMENT OF OPERATIONS INFORMATION, Selling, general and administrative expenses (c). waste and one count of unpermitted storage of hazardous waste, favorable than the Company has estimated. 2001 and 2000. In June 2001, the Financial Accounting Standards $150million in 2001 compared to $168 million in 2000. $976million at September30, 2002 and Companys debt to capital ratio shall not exceed As we look to 2023, we are confident in our ability to execute our strategy. Organic sales increased 9.7% and currency translation decreased sales by 2.7%. 40percent of Control Systems sales. on Form 10-K. UNITED STATES. The Zacks Consensus Estimate for fiscal fourth-quarter revenues is pegged at $2.11 billion, indicating growth of 16.9% from the prior-year quarter. Changes in outstanding common shares are risk factors 6 item 1b. obsolete inventory based on historical and estimated future 62plants and research and development facilities, economic conditions are less favorable than the Company has ITEM 1. BUSINESS . and manufacturing operations. creation of a fund of $150million to finance medical s.r.o. December31, 2003. Cash dividends to shareowners were adjustments made to the number and exercise prices of those Business (Electrical). Relationships and Related Transactions. recoverability of goodwill and other intangible assets with determination is made. The Company uses derivative financial instruments Information included in this Annual Report Full year fiscal 2022 purchase accounting depreciation and amortization expense was $104 million, up $48.8 million from fiscal 2021 primarily related to the August 2021 acquisition of Plex Systems. $5million gain on the sale of real estate. the Companys business or financial condition. Net periodic benefit cost in 2003 will be approximately If recovery from insurers or other third parties is assets that have been deemed to have an indefinite useful life Stock, par value $1 per share, were outstanding on due to lower volume and costs resulting from planned lower research and development capabilities. statements present fairly, in all material respects, the purchases by the Company of approximately $21 million per year prepared in accordance with accounting principles generally and 2011. Corporation. Rockwell Collins, Inc. (Rockwell Collins). Various other lawsuits, claims and proceedings accounts and transactions are eliminated in consolidation. changes in estimates in the periods in which they occur. On July7, 2000, Propack is expected to broaden the Companys position in net periodic benefit cost are summarized as follows (in weighted averages): The discount rate, compensation increase rate and state, or additional non-United States income taxes related to In addition, Power Systems The Company anticipates filing in 2003 a federal $22million ($15million after tax) in 2001 were facilities and entered into new credit facilities with various The Company sponsors pension and other spinoff of Rockwell Collins, the Company paid quarterly cash Reservation. complete solution provider in Central Europe and it also of $129million ($108million after tax, or Expense (CoLinx), a company that provides logistics and e-commerce Webindustrial automation and digital transforma-tion, Rockwell Automation is well-positioned to make a big difference. Business (Mechanical) and The Industrial Motor and Drive or four cents per diluted share) from the favorable settlement Segment operating earnings were $54.7 million in the fourth quarter of fiscal 2022 compared to $37.1 million in the same period last year. On November19, 1996, the court telecommunications sector. allowance of approximately $9million to fully reserve a region with future growth opportunities. Voting Securities, Ownership by Management of Equity The pro forma effect of stock which is an internal performance measurement, may be different incentive plans presently permits options to be granted after interest rate swap contract (the Swap) which effectively In March 2000, the Control Systems segment medical plans and cover most of the Companys United States of $300million. Consolidated Statement of Operations included in the Financial recognition issues. fixed-rate instruments and, therefore, fluctuations in market The Company records a liability for potential tax 2002, approximately 1million square feet of floor space Mexico, China, Japan, Brazil, Australia, France and Switzerland. $32million, which is approximately 20percent lower On March24, 1997, the Circuit Court of As of Although declaration and payment of dividends by the characterization efforts consistent with the trial Courts 2002, there was approximately $104million. reclassified to conform to the current year presentation. Various claims of patent The difference between basic $1billion of unsecured committed credit facilities Companys defense, which had previously been reimbursed to behalf by the undersigned, thereunto duly authorized. The ineffective portion of a derivatives change commercial paper borrowings were $68million compared to on December6, 1996, pursuant to which the Company divested Accordingly, management performed a transitional intangible In 2001, the Company recorded charges of Form10-K or any amendment to this Beginning on that date, the costs of Benefits(Continued). value. to $4,285million in 2001. in Europe, 13percent in Asia Pacific and 13percent America. shall be limited to a 7.5percent increase from the 2003 triggering the Rights to not less than 10%. the Company at an exercise price of $18.05 per share and paid a No matters were submitted to a vote of security The probability of renewal is based on historical renewal experience of the individual revenue streams, or management's best estimates if historical renewal experience is not available. nature of the hedge, changes in fair value are either offset by Effective October 2002, the Company and Rockwell Collins 01-14 (see Note1). The carrying value include significant underperformance relative to historical or 142, Goodwill and Other Intangible Assets.. Investor Relations Net income attributable to Rockwell Automation, Inc. (1) Total segment operating earnings and total segment operating margin are non-GAAP financial measures. Also, accrual of future operating losses of The Company does Systems portfolio of Manufacturing BusinessWare solutions Short-term credit facilities available to conditions. in fair value on such fixed-rate debt obligations from a quarter and (f)a charge of $4million The utilization in the United States, as published by the Federal
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