Exhibit 99.1

Consolidated Statements of Earnings
EMERSON ELECTRIC CO. & SUBSIDIARIES

Years ended September 30
(Dollars in millions, except per share amounts; unaudited)
 
 2021 2022 
Net sales$12,932 13,804 
Cost of sales7,202 7,498 
Selling, general and administrative expenses3,494 3,614 
Gain on subordinated interest— (453)
Other deductions, net319 519 
Interest expense, net155 194 
Earnings from continuing operations before income taxes1,762 2,432 
Income taxes346 549 
Earnings from continuing operations1,416 1,883 
Discontinued operations, net of tax: 2021, $239; 2022, $306911 1,347 
Net earnings2,327 3,230 
Less: Noncontrolling interests in subsidiaries24 (1)
Net earnings common stockholders$2,303 3,231 
Earnings common stockholders:
     Earnings from continuing operations$1,414 1,886 
     Discontinued operations889 1,345 
Net earnings common stockholders$2,303 3,231 
Basic earnings per share common stockholders:
     Earnings from continuing operations$2.36 3.17 
     Discontinued operations1.49 2.27 
Basic earnings per common share $3.85 5.44 
Diluted earnings per share common stockholders:
Earnings from continuing operations$2.35 3.16 
Discontinued operations1.47 2.25 
Diluted earnings per common share$3.82 5.41 
Weighted average outstanding shares:
Basic598.1 592.9 
Diluted601.8 596.3 













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Consolidated Balance Sheet
EMERSON ELECTRIC CO. & SUBSIDIARIES

September 30 (Dollars and shares in millions, except per share amounts; unaudited)
 2022 
ASSETS 
Current assets 
Cash and equivalents$1,804 
Receivables, less allowances of $902,176 
Inventories1,661 
Other current assets1,450 
Current assets held-for-sale1,415 
Total current assets8,506 
Property, plant and equipment, net2,098 
Other assets
Goodwill13,944 
Other intangible assets6,571 
Other2,312 
Noncurrent assets held-for-sale2,241 
Total other assets25,068 
Total assets$35,672 
LIABILITIES AND EQUITY 
Current liabilities 
Short-term borrowings and current maturities of long-term debt$2,115 
Accounts payable1,216 
Accrued expenses3,057 
Current liabilities held-for-sale1,389 
Total current liabilities7,777 
Long-term debt8,259 
Other liabilities3,195 
Noncurrent liabilities held-for-sale125 
Equity 
Common stock, $0.50 par value; authorized, 1,200.0 shares; issued, 953.4 shares; outstanding, 591.4 shares477 
Additional paid-in-capital57 
Retained earnings28,053 
Accumulated other comprehensive income (loss)(1,485)
Cost of common stock in treasury, 362.0 shares(16,738)
Common stockholders’ equity10,364 
Noncontrolling interests in subsidiaries5,952 
Total equity16,316 
Total liabilities and equity$35,672 







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Consolidated Statements of Cash Flows
EMERSON ELECTRIC CO. & SUBSIDIARIES

Years ended September 30 (Dollars in millions; unaudited)
 2021 2022 
Operating activities  
Net earnings$2,327 3,230 
Earnings from discontinued operations, net of tax(911)(1,347)
Adjustments to reconcile net earnings to net cash provided by operating activities:
        Depreciation and amortization762 842 
        Stock compensation197 125 
        Pension expense28 2 
        Pension funding(41)(43)
        Changes in operating working capital167 (312)
        Gain on subordinated interest— (453)
        Other, net(71)4 
            Cash from continuing operations2,458 2,048 
            Cash from discontinued operations1,117 874 
            Cash provided by operating activities3,575 2,922 
Investing activities
Capital expenditures(404)(299)
Purchases of businesses, net of cash and equivalents acquired(1,592)(5,702)
Divestitures of businesses30 17 
Proceeds from subordinated interest— 438 
Other, net(25)(138)
    Cash from continuing operations(1,991)(5,684)
    Cash from discontinued operations(129)350 
    Cash used in investing activities(2,120)(5,334)
Financing activities
Net increase in short-term borrowings(504)1,241 
Proceeds from short-term borrowings greater than three months71 1,162 
Payments of short-term borrowings greater than three months(71)(1,165)
Proceeds from long-term debt— 2,975 
Payments of long-term debt(308)(522)
Dividends paid(1,210)(1,223)
Purchases of common stock(500)(500)
Other, net100 80 
    Cash provided by (used in) financing activities(2,422)2,048 
Effect of exchange rate changes on cash and equivalents6 (186)
Decrease in cash and equivalents(961)(550)
Beginning cash and equivalents3,315 2,354 
Ending cash and equivalents$2,354 1,804 
Changes in operating working capital
Receivables$(18)(143)
Inventories(11)(334)
Other current assets(91)(56)
Accounts payable107 147 
Accrued expenses180 74 
Total changes in operating working capital$167 (312)






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Supplemental Business Segment Information
EMERSON ELECTRIC CO. & SUBSIDIARIES

Years ended September 30 (Dollars in millions; unaudited)
 SalesEarnings (Loss)
 2021 2022 2021 2022 
Measurement & Analytical$3,078 3,215 $684 785 
Final Control 3,488 3,607 432 592 
Discrete Automation 2,474 2,612 457 542 
Safety & Productivity 1,340 1,402 256 250 
Intelligent Devices 10,380 10,836 1,829 2,169 
AspenTech 319 656 (7)12 
Control Systems & Software 2,321 2,398 382 437 
Software and Control 2,640 3,054 375 449 
Corporate items:
Stock compensation
(197)(125)
Unallocated pension and postretirement costs94 99 
Corporate and other(184)(419)
Gain on subordinated interest— 453 
Eliminations/Interest(88)(86)(155)(194)
     Total$12,932 13,804 $1,762 2,432 

Eliminations at consolidated net sales reflect the impact of intercompany sales between the two business groups.







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Supplemental Business Segment Information
EMERSON ELECTRIC CO. & SUBSIDIARIES

Years ended September 30 (Dollars in millions; unaudited)

INTELLIGENT DEVICES
20212022Change
Sales:
Measurement & Analytical$3,078 3,215 4 %
Final Control 3,488 3,607 3 %
Discrete Automation 2,474 2,612 6 %
Safety & Productivity 1,340 1,402 5 %
     Total$10,380 10,836 4 %
Earnings:
Measurement & Analytical$684 785 15 %
Final Control 432 592 37 %
Discrete Automation 457 542 18 %
Safety & Productivity 256 250 (2)%
     Total$1,829 2,169 19 %
     Margin17.6 %20.0 %2.4 pts
Restructuring and related costs:
Measurement & Analytical$58 3 
Final Control66 75 
Discrete Automation11 — 
Safety & Productivity4 10 
     Total$139 88 
Amortization of intangibles:
Measurement & Analytical$25 21 
Final Control107 94 
Discrete Automation34 30 
Safety & Productivity28 26 
     Total$194 171 
Adjusted EBITA$2,162 2,428 12 %
Adjusted EBITA Margin20.8 %22.4 %1.6 pts


















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SOFTWARE AND CONTROL
20212022Change
Sales:
AspenTech $319 656 106 %
Control Systems & Software 2,321 2,398 3 %
     Total$2,640 3,054 16 %
Earnings:
AspenTech $(7)12 269 %
Control Systems & Software 382 437 14 %
     Total$375 449 20 %
     Margin14.2 %14.7 %0.5 pts
Restructuring and related costs:
AspenTech$2 — 
Control Systems & Software11 11 
     Total$13 11 
Amortization of intangibles:
AspenTech$89 237 
Control Systems & Software20 22 
Total$109 259 
Adjusted EBITA$497 719 45 %
Adjusted EBITA Margin18.8 %23.5 %4.7 pts








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