v3.26.3
SEGMENTS (Tables)
 12 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting
The following table sets forth, for the periods indicated, certain financial information by reportable segment, which includes a reconciliation of EBITDA As Defined to consolidated income from continuing operations before income taxes (in millions):
Fiscal Year Ended September 30, 2026
Power & ControlAirframeNon-aviationTotal
Net sales to external customers
Commercial and non-aerospace OEM$1,128 $1,330 $2,458 
Commercial and non-aerospace aftermarket1,784 1,643 3,427 
Defense2,861 1,630 4,491 
Non-aviation— — 181 181 
Net sales5,773 4,603 181 10,557 
Less:
Other segment expenses (1)
2,675 2,104 102 
Total segment EBITDA As Defined3,098 2,499 79 5,676 
Less: Unallocated corporate EBITDA As Defined113 
Depreciation and amortization expense445 
Interest expense-net2,008 
Acquisition transaction and integration-related expenses101 
Non-cash stock and deferred compensation expense158 
Refinancing costs28 
Other, net59 
Income from continuing operations before income taxes$2,764 
(1)Primarily represents cost of sales, selling expenses, general and administrative expenses, research and development, and miscellaneous income or expense. Excludes depreciation and amortization; non-cash stock and deferred compensation expense; foreign currency transaction gains or losses; acquisition transaction and integration-related expenses and payroll withholding taxes related to dividend equivalent payments.
Fiscal Year Ended September 30, 2025
Power & ControlAirframeNon-aviationTotal
Net sales to external customers
Commercial and non-aerospace OEM$926 $1,180 $2,106 
Commercial and non-aerospace aftermarket1,360 1,444 2,804 
Defense2,273 1,488 3,761 
Non-aviation— — 160 160 
Net sales4,559 4,112 160 $8,831 
Less:
Other segment expenses (1)
1,964 1,902 93 
Total segment EBITDA As Defined2,595 2,210 67 4,872 
Less: Unallocated corporate EBITDA As Defined112 
Depreciation and amortization expense367 
Interest expense-net1,572 
Acquisition transaction and integration-related expenses42 
Non-cash stock and deferred compensation expense157 
Refinancing costs11 
Other, net(18)
Income from continuing operations before income taxes$2,629 
(1)Primarily represents cost of sales, selling expenses, general and administrative expenses, research and development, and miscellaneous income or expense. Excludes depreciation and amortization; non-cash stock and deferred compensation expense; foreign currency transaction gains or losses; acquisition transaction and integration-related expenses and payroll withholding taxes related to dividend equivalent payments.
Fiscal Year Ended September 30, 2024
Power & ControlAirframeNon-aviationTotal
Net sales to external customers
Commercial and non-aerospace OEM$841 $1,280 $2,121 
Commercial and non-aerospace aftermarket1,218 1,290 2,508 
Defense1,907 1,239 3,146 
Non-aviation— — 165 165 
Net sales3,966 3,809 165 $7,940 
Less:
Other segment expenses (1)
1,715 1,847 99 
Total segment EBITDA As Defined2,251 1,962 66 4,279 
Less: Unallocated corporate EBITDA As Defined106 
Depreciation and amortization expense312 
Interest expense-net1,286 
Acquisition transaction and integration-related expenses70 
Non-cash stock and deferred compensation expense217 
Refinancing costs58 
Other, net15 
Income from continuing operations before income taxes$2,215 
(1)Primarily represents cost of sales, selling expenses, general and administrative expenses, research and development, and miscellaneous income or expense. Excludes depreciation and amortization; non-cash stock and deferred compensation expense; foreign currency transaction gains or losses; acquisition transaction and integration-related expenses and payroll withholding taxes related to dividend equivalent payments.
Assets, Capital Expenditures and Depreciation and Amortization by Segment
September 30, 2026
Power & ControlAirframeNon-aviation
Corporate (1)
Total
Total assets$15,115 $10,525 $219 $2,155 $28,014 
Capital expenditures151 114 8 1 274 
Depreciation and amortization245 194 6 — 445 
(1)Corporate consists of our corporate offices and does not constitute an operating segment. These amounts are included to reconcile to total consolidated assets, capital expenditures and depreciation and amortization, respectively.
September 30, 2025
Power & ControlAirframeNon-aviation
Corporate (1)
Total
Total assets$9,859 $10,267 $202 $2,581 $22,909 
Capital expenditures108 103 9 2 222 
Depreciation and amortization180 181 6 — 367 
(1)Corporate consists of our corporate offices and does not constitute an operating segment. These amounts are included to reconcile to total consolidated assets, capital expenditures and depreciation and amortization, respectively.
September 30, 2024
Power & ControlAirframeNon-aviation
Corporate (1)
Total
Total assets$9,180 $10,045 $193 $6,168 $25,586 
Capital expenditures90 73 2 — 165 
Depreciation and amortization133 172 6 1 312 
(1)Corporate consists of our corporate offices and does not constitute an operating segment. These amounts are included to reconcile to total consolidated assets, capital expenditures and depreciation and amortization, respectively.
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue and Long-Lived Asset
Geographic Area Information
Net sales are measured based on the geographic destination of sales. Long-lived assets consist of property, plant and equipment-net and operating lease right-of-use assets, and are attributed to the country in which the assets are physically located. Net sales and long-lived assets of individual countries outside of the United States are not material.
The following table presents net sales by geographic area (in millions):
Fiscal Years Ended September 30,
202620252024
Net sales
United States$6,859 $5,535 $5,032 
Foreign Countries3,698 3,296 2,908 
$10,557 $8,831 $7,940 
The following table presents long-lived assets by geographic area (in millions):
September 30, 2026September 30, 2025September 30, 2024
Long-lived assets
United States$1,541 $1,339 $1,273 
Foreign Countries383 305 276 
$1,924 $1,644 $1,549