| BUSINESS SEGMENTS |
BUSINESS SEGMENTS As disclosed in Note 4, the Company completed the acquisition of NI on October 11, 2023. NI is now referred to as Test & Measurement and reported as a new segment in the Software and Control business group.
Summarized information about the Company's results of operations by business segment follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, | | Six Months Ended March 31, | | | Sales | | Earnings (Loss) | | Sales | | Earnings (Loss) | | | 2023 | | | 2024 | | | 2023 | | | 2024 | | | 2023 | | | 2024 | | | 2023 | | | 2024 | | | | | | | | | | | | | | | | | | | Final Control | $ | 992 | | | 1,051 | | | 215 | | | 259 | | | 1,854 | | | 1,991 | | | 373 | | | 453 | | | Measurement & Analytical | 888 | | | 1,013 | | | 229 | | | 274 | | | 1,637 | | | 1,960 | | | 404 | | | 509 | | | Discrete Automation | 683 | | | 632 | | | 133 | | | 116 | | | 1,301 | | | 1,245 | | | 254 | | | 213 | | | Safety & Productivity | 361 | | | 365 | | | 83 | | | 83 | | | 671 | | | 687 | | | 146 | | | 151 | | | Intelligent Devices | 2,924 | | | 3,061 | | | 660 | | | 732 | | | 5,463 | | | 5,883 | | | 1,177 | | | 1,326 | | | | | | | | | | | | | | | | | | | Control Systems & Software | 623 | | | 687 | | | 127 | | | 151 | | | 1,229 | | | 1,362 | | | 234 | | | 300 | | | Test & Measurement | — | | | 367 | | | — | | | (79) | | | — | | | 749 | | | — | | | (157) | | | AspenTech | 230 | | | 278 | | | (54) | | | (8) | | | 473 | | | 535 | | | (87) | | | (43) | | | Software and Control | 853 | | | 1,332 | | | 73 | | | 64 | | | 1,702 | | | 2,646 | | | 147 | | | 100 | | | | | | | | | | | | | | | | | | Stock compensation | | | | | (40) | | | (73) | | | | | | | (142) | | | (147) | | | Unallocated pension and postretirement costs | | | | | 46 | | | 38 | | | | | | | 91 | | | 69 | | | Corporate and other | | | | | (47) | | | (103) | | | | | | | (111) | | | (502) | | | Loss on Copeland equity method investment | | | | | — | | | (59) | | | | | | | — | | | (95) | | | Gain on subordinated interest | | | | | — | | | 79 | | | | | | | — | | | 79 | | | Eliminations/Interest | (21) | | | (17) | | | (53) | | | (57) | | | (36) | | | (36) | | | (101) | | | (101) | | | Interest income from related party | | | | | — | | | 31 | | | | | | | — | | | 62 | | | Total | $ | 3,756 | | | 4,376 | | | 639 | | | 652 | | | 7,129 | | | 8,493 | | | 1,061 | | | 791 | |
Stock compensation for the three months and six months ended March 31, 2024 included $14 and $44 of integration-related stock compensation expense attributable to NI (of which $10 and $36, respectively, was reported as restructuring costs). Corporate and other for the three and six months ended March 31, 2024 included acquisition/divestiture fees and related costs of $16 and $146, respectively, and a divestiture loss of $39, while year-to-date also includes acquisition-related inventory step-up amortization of $231. Corporate and other for the six months ended March 31, 2023 included a loss of $47 related to the Company's exit of business operations in Russia and a mark-to-market gain of $35 related to its equity investment in National Instruments Corporation. Depreciation and amortization (includes intellectual property, customer relationships and capitalized software) by business segment are summarized below: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, | | Six Months Ended March 31, | | | 2023 | | | 2024 | | | | 2023 | | | 2024 | | | Final Control | | $ | 45 | | | 39 | | | | 90 | | | 79 | | | Measurement & Analytical | | 28 | | | 33 | | | | 58 | | | 73 | | | Discrete Automation | | 22 | | | 21 | | | | 43 | | | 43 | | | Safety & Productivity | | 15 | | | 15 | | | | 29 | | | 29 | | | Intelligent Devices | | 110 | | | 108 | | | | 220 | | | 224 | | | | | | | | | | | | | Control Systems & Software | | 24 | | | 28 | | | | 45 | | | 49 | | | Test & Measurement | | — | | | 153 | | | | — | | | 304 | | | AspenTech | | 123 | | | 124 | | | | 246 | | | 247 | | | Software and Control | | 147 | | | 305 | | | | 291 | | | 600 | | | | | | | | | | | | | Corporate and other | | 6 | | | 11 | | | | 12 | | | 22 | | | Total | | $ | 263 | | | 424 | | | | 523 | | | 846 | |
Test & Measurement depreciation and amortization for the three and six months ended March 31, 2024 included intangibles amortization of $141 and $280 due to the acquisition. Sales by geographic destination, Americas, Asia, Middle East & Africa ("AMEA") and Europe, are summarized below: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, | | Three Months Ended March 31, | | | 2023 | | 2024 | | | | Americas | | AMEA | | Europe | | Total | | Americas | | AMEA | | Europe | | Total | | | Final Control | | $ | 494 | | | 362 | | | 136 | | | 992 | | | 513 | | | 404 | | | 134 | | | 1,051 | | | | Measurement & Analytical | | 455 | | | 304 | | | 129 | | | 888 | | | 512 | | | 334 | | | 167 | | | 1,013 | | | | Discrete Automation | | 311 | | | 184 | | | 188 | | | 683 | | | 294 | | | 161 | | | 177 | | | 632 | | | | Safety & Productivity | | 272 | | | 16 | | | 73 | | | 361 | | | 269 | | | 19 | | | 77 | | | 365 | | | | Intelligent Devices | | 1,532 | | | 866 | | | 526 | | | 2,924 | | | 1,588 | | | 918 | | | 555 | | | 3,061 | | | | | | | | | | | | | | | | | | | | | | Control Systems & Software | | 314 | | | 186 | | | 123 | | | 623 | | | 321 | | | 217 | | | 149 | | | 687 | | | | Test & Measurement | | — | | | — | | | — | | | — | | | 162 | | | 98 | | | 107 | | | 367 | | | | AspenTech | | 114 | | | 61 | | | 55 | | | 230 | | | 121 | | | 73 | | | 84 | | | 278 | | | | Software and Control | | 428 | | | 247 | | | 178 | | | 853 | | | 604 | | | 388 | | | 340 | | | 1,332 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total | | $ | 1,960 | | | 1,113 | | | 704 | | | 3,777 | | | 2,192 | | | 1,306 | | | 895 | | | 4,393 | | | | | | | | | | | | | | | | | | | | | | Six Months Ended March 31, | | Six Months Ended March 31, | | | 2023 | | 2024 | | | | Americas | | AMEA | | Europe | | Total | | Americas | | AMEA | | Europe | | Total | | | Final Control | | $ | 940 | | | 670 | | | 244 | | | 1,854 | | | 967 | | | 774 | | | 250 | | | 1,991 | | | | Measurement & Analytical | | 851 | | | 550 | | | 236 | | | 1,637 | | | 987 | | | 659 | | | 314 | | | 1,960 | | | | Discrete Automation | | 602 | | | 359 | | | 340 | | | 1,301 | | | 580 | | | 323 | | | 342 | | | 1,245 | | | | Safety & Productivity | | 508 | | | 33 | | | 130 | | | 671 | | | 512 | | | 35 | | | 140 | | | 687 | | | | Intelligent Devices | | 2,901 | | | 1,612 | | | 950 | | | 5,463 | | | 3,046 | | | 1,791 | | | 1,046 | | | 5,883 | | | | | | | | | | | | | | | | | | | | | | Control Systems & Software | | 608 | | | 371 | | | 250 | | | 1,229 | | | 646 | | | 426 | | | 290 | | | 1,362 | | | | Test & Measurement | | — | | | — | | | — | | | — | | | 326 | | | 197 | | | 226 | | | 749 | | | | AspenTech | | 226 | | | 124 | | | 123 | | | 473 | | | 261 | | | 133 | | | 141 | | | 535 | | | | Software and Control | | 834 | | | 495 | | | 373 | | | 1,702 | | | 1,233 | | | 756 | | | 657 | | | 2,646 | | | | | | | | | | | | | | | | | | | | | | Corporate and other | | | | | | | | | | | | | | | | | | | Total | | $ | 3,735 | | | 2,107 | | | 1,323 | | | 7,165 | | | 4,279 | | | 2,547 | | | 1,703 | | | 8,529 | | |
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