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(State or other jurisdiction of
incorporation or organization) |
(I.R.S. Employer
Identification No.) |
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(Address of principal executive offices) | (Zip Code) |
Title of each class |
Trading
Symbol(s) |
Name of each exchange on which registered | ||||||
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NYSE Chicago | ||||||||
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☒ | Accelerated filer | ☐ | |||||||||||||||||||||||||||||
Non-accelerated filer | ☐ | Smaller reporting company |
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Emerging growth company |
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Three Months Ended
March 31, |
Six Months Ended
March 31, |
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2020 | 2021 | 2020 | 2021 | ||||||||||||||||||||
Net sales | $ |
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Costs and expenses: | |||||||||||||||||||||||
Cost of sales |
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Selling, general and administrative expenses |
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Other deductions, net |
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Interest expense (net of interest income of $
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Earnings before income taxes |
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Income taxes |
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Net earnings |
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Less: Noncontrolling interests in earnings of subsidiaries |
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Net earnings common stockholders | $ |
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Basic earnings per share common stockholders | $ |
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Diluted earnings per share common stockholders | $ |
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Three Months Ended March 31, | Six Months Ended March 31, | ||||||||||||||||||||||||||||||||||
2020 | 2021 | 2020 | 2021 | ||||||||||||||||||||||||||||||||
Net earnings | $ |
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Other comprehensive income (loss), net of tax: | |||||||||||||||||||||||||||||||||||
Foreign currency translation |
(
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(
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(
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Pension and postretirement |
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Cash flow hedges |
(
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(
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Total other comprehensive income (loss) |
(
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(
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Comprehensive income |
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Less: Noncontrolling interests in comprehensive income of subsidiaries |
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Comprehensive income common stockholders | $ |
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Sept 30, 2020 | Mar 31, 2021 | ||||||||||
ASSETS | |||||||||||
Current assets | |||||||||||
Cash and equivalents | $ |
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Receivables, less allowances of $
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Inventories |
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Other current assets |
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Total current assets |
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Property, plant and equipment, net |
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Other assets | |||||||||||
Goodwill |
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Other intangible assets |
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Other |
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Total other assets |
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Total assets | $ |
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LIABILITIES AND EQUITY | |||||||||||
Current liabilities | |||||||||||
Short-term borrowings and current maturities of long-term debt | $ |
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Accounts payable |
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Accrued expenses |
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Total current liabilities |
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Long-term debt |
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Other liabilities |
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Equity | |||||||||||
Common stock, $
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Additional paid-in-capital |
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Retained earnings |
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Accumulated other comprehensive income (loss) |
(
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(
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Cost of common stock in treasury,
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(
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(
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Common stockholders’ equity |
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Noncontrolling interests in subsidiaries |
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Total equity |
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Total liabilities and equity | $ |
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Three Months Ended March 31, | Six Months Ended March 31, | ||||||||||||||||||||||
2020 | 2021 | 2020 | 2021 | ||||||||||||||||||||
Common stock | $ |
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Additional paid-in-capital | |||||||||||||||||||||||
Beginning balance |
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Stock plans |
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Ending balance |
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Retained earnings | |||||||||||||||||||||||
Beginning balance |
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Net earnings common stockholders |
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Dividends paid (per share: $
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(
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(
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(
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(
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Adoption of accounting standard |
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(
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Ending balance |
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Accumulated other comprehensive income (loss) | |||||||||||||||||||||||
Beginning balance |
(
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(
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(
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(
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Foreign currency translation |
(
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(
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(
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Pension and postretirement |
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Cash flow hedges |
(
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(
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Ending balance |
(
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(
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(
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(
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Treasury stock | |||||||||||||||||||||||
Beginning balance |
(
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(
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(
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(
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Purchases |
(
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(
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(
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(
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Issued under stock plans |
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Ending balance |
(
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(
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(
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(
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Common stockholders' equity |
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Noncontrolling interests in subsidiaries | |||||||||||||||||||||||
Beginning balance |
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Net earnings |
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Other comprehensive income |
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(
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(
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Dividends paid |
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(
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(
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Ending balance |
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Total equity | $ |
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Six Months Ended | ||||||||||||||
March 31, | ||||||||||||||
2020 | 2021 | |||||||||||||
Operating activities | ||||||||||||||
Net earnings | $ |
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Adjustments to reconcile net earnings to net cash provided by operating activities: | ||||||||||||||
Depreciation and amortization |
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Stock compensation |
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Pension expense |
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Changes in operating working capital |
(
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Other, net |
(
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(
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Cash provided by operating activities |
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Investing activities | ||||||||||||||
Capital expenditures |
(
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(
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Purchases of businesses, net of cash and equivalents acquired |
(
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(
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Other, net |
(
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Cash used in investing activities |
(
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(
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Financing activities | ||||||||||||||
Net increase in short-term borrowings |
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Proceeds from short-term borrowings greater than three months |
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Payments of long-term debt |
(
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(
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Dividends paid |
(
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(
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Purchases of common stock |
(
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(
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Other, net |
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Cash provided by (used in) financing activities |
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(
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Effect of exchange rate changes on cash and equivalents |
(
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||||||||||||
Increase (Decrease) in cash and equivalents |
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(
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Beginning cash and equivalents |
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Ending cash and equivalents | $ |
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Changes in operating working capital | ||||||||||||||
Receivables | $ |
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Inventories |
(
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(
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Other current assets |
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(
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||||||||||||
Accounts payable |
(
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Accrued expenses |
(
|
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||||||||||||
Total changes in operating working capital | $ |
(
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Sept 30, 2020 | Mar 31, 2021 | ||||||||||||||||
Unbilled receivables (contract assets) | $ |
|
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||||||||||||||
Customer advances (contract liabilities) |
(
|
(
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|||||||||||||||
Net contract liabilities | $ |
(
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(
|
Three Months Ended
March 31, |
Six Months Ended
March 31, |
||||||||||||||||||||||
2020 | 2021 | 2020 | 2021 | ||||||||||||||||||||
Basic shares outstanding |
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Dilutive shares |
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Diluted shares outstanding |
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Three Months Ended March 31, | Six Months Ended March 31, | ||||||||||||||||||||||||||||||||||
2020 | 2021 | 2020 | 2021 | ||||||||||||||||||||||||||||||||
Service cost | $ |
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Interest cost |
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Expected return on plan assets
|
(
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(
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(
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(
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Net amortization |
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|||||||||||||||||||||||||||||||
Total | $ |
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|
Three Months Ended
March 31, |
Six Months Ended
March 31, |
||||||||||||||||||||||||||||||||||
2020 | 2021 | 2020 | 2021 | ||||||||||||||||||||||||||||||||
Amortization of intangibles (intellectual property and customer relationships) | $ |
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||||||||||||||||||||||||||||||
Restructuring costs |
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|||||||||||||||||||||||||||||||
Special advisory fees |
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|||||||||||||||||||||||||||||||
Other |
(
|
(
|
(
|
(
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|||||||||||||||||||||||||||||||
Total | $ |
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|
Three Months Ended
March 31, |
Six Months Ended
March 31, |
||||||||||||||||||||||||||||||||||
2020 | 2021 | 2020 | 2021 | ||||||||||||||||||||||||||||||||
Automation Solutions | $ |
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||||||||||||||||||||||||||||||
Climate Technologies |
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|||||||||||||||||||||||||||||||
Tools & Home Products |
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Commercial & Residential Solutions |
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Corporate |
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Total | $ |
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Sept 30, 2020 | Expense | Utilized/Paid | Mar 31, 2021 | ||||||||||||||||||||||||||||||||
Severance and benefits | $ |
|
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Other |
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|||||||||||||||||||||||||||||||
Total | $ |
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|
Sept 30, 2020 | Mar 31, 2021 | |||||||||||||||
Inventories | |||||||||||||||||
Finished products | $ |
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|
||||||||||||||
Raw materials and work in process |
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|||||||||||||||
Total | $ |
|
|
Property, plant and equipment, net | |||||||||||||||||
Property, plant and equipment, at cost | $ |
|
|
||||||||||||||
Less: Accumulated depreciation |
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|||||||||||||||
Total | $ |
|
|
Goodwill by business segment | |||||||||||||||||
Automation Solutions | $ |
|
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||||||||||||||
Climate Technologies |
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Tools & Home Products |
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|||||||||||||||
Commercial & Residential Solutions |
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Total | $ |
|
|
Other intangible assets | |||||||||||||||||
Gross carrying amount | $ |
|
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||||||||||||||
Less: Accumulated amortization |
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Net carrying amount | $ |
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Other assets include the following: | |||||||||||||||||
Operating lease right-of-use assets | $ |
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Pension assets |
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Deferred income taxes |
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Asbestos-related insurance receivables |
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|
Sept 30, 2020 | Mar 31, 2021 | ||||||||||||||||
Accrued expenses include the following: | |||||||||||||||||
Customer advances (contract liabilities) | $ |
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Employee compensation |
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Product warranty |
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|||||||||||||||
Operating lease liabilities (current) |
|
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Other liabilities include the following: | |||||||||||||||||
Pension and postretirement liabilities | $ |
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||||||||||||||
Deferred income taxes |
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|
|||||||||||||||
Operating lease liabilities (noncurrent) |
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Asbestos litigation |
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Into Earnings | Into OCI | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
2nd Quarter | Six Months | 2nd Quarter | Six Months | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Gains (Losses) | Location | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | |||||||||||||||||||||||||||||||||||||||||||||||
Commodity | Cost of sales | $ |
(
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(
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(
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(
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Foreign currency
|
Sales
|
(
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(
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(
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(
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(
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Foreign currency
|
Cost of sales
|
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(
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(
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Foreign currency
|
Other deductions, net
|
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Net Investment Hedges | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Euro denominated debt |
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(
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Total | $ |
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|
(
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(
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Three Months Ended March 31, | Six Months Ended March 31, | ||||||||||||||||||||||||||||||||||
2020 | 2021 | 2020 | 2021 | ||||||||||||||||||||||||||||||||
Foreign currency translation | |||||||||||||||||||||||||||||||||||
Beginning balance | $ |
(
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(
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(
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(
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||||||||||||||||||||||||||||||
Other comprehensive income (loss), net of tax of $(
|
(
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(
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(
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|
|||||||||||||||||||||||||||||||
Ending balance |
(
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(
|
(
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(
|
|||||||||||||||||||||||||||||||
Pension and postretirement | |||||||||||||||||||||||||||||||||||
Beginning balance |
(
|
(
|
(
|
(
|
|||||||||||||||||||||||||||||||
Amortization of deferred actuarial losses into earnings, net of tax of $(
|
|
|
|
|
|||||||||||||||||||||||||||||||
Ending balance |
(
|
(
|
(
|
(
|
|||||||||||||||||||||||||||||||
Cash flow hedges | |||||||||||||||||||||||||||||||||||
Beginning balance |
|
|
|
(
|
|||||||||||||||||||||||||||||||
Deferral of gains (losses) arising during the period, net of tax of $
|
(
|
|
(
|
|
|||||||||||||||||||||||||||||||
Reclassification of realized (gains) losses to sales and cost of sales, net of tax of $
|
(
|
(
|
(
|
(
|
|||||||||||||||||||||||||||||||
Ending balance |
(
|
|
(
|
|
|||||||||||||||||||||||||||||||
Accumulated other comprehensive income (loss) | $ |
(
|
(
|
(
|
(
|
||||||||||||||||||||||||||||||
Three Months Ended March 31, | Six Months Ended March 31, | ||||||||||||||||||||||||||||||||||||||||||||||
Sales | Earnings | Sales | Earnings | ||||||||||||||||||||||||||||||||||||||||||||
2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | ||||||||||||||||||||||||||||||||||||||||
Automation Solutions | $ |
|
|
|
|
|
|
|
|
||||||||||||||||||||||||||||||||||||||
Climate Technologies |
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||
Tools & Home Products |
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||
Commercial & Residential Solutions
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||
Stock compensation
|
|
(
|
(
|
(
|
|||||||||||||||||||||||||||||||||||||||||||
Unallocated pension and postretirement costs |
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||
Corporate and other |
(
|
(
|
(
|
(
|
|||||||||||||||||||||||||||||||||||||||||||
Eliminations/Interest |
(
|
(
|
(
|
(
|
(
|
(
|
(
|
(
|
|||||||||||||||||||||||||||||||||||||||
Total | $ |
|
|
|
|
|
|
|
|
Three Months Ended March 31, | Six Months Ended March 31, | ||||||||||||||||||||||||||||||||||
2020 | 2021 | 2020 | 2021 | ||||||||||||||||||||||||||||||||
Measurement & Analytical Instrumentation | $ |
|
|
|
|
||||||||||||||||||||||||||||||
Valves, Actuators & Regulators |
|
|
|
|
|||||||||||||||||||||||||||||||
Industrial Solutions |
|
|
|
|
|||||||||||||||||||||||||||||||
Systems & Software |
|
|
|
|
|||||||||||||||||||||||||||||||
Automation Solutions | $ |
|
|
|
|
||||||||||||||||||||||||||||||
Three Months Ended March 31, | Six Months Ended March 31, | ||||||||||||||||||||||||||||
2020 | 2021 | 2020 | 2020 | ||||||||||||||||||||||||||
Automation Solutions | $ |
|
|
|
|
||||||||||||||||||||||||
Climate Technologies |
|
|
|
|
|||||||||||||||||||||||||
Tools & Home Products |
|
|
|
|
|||||||||||||||||||||||||
Commercial & Residential Solutions |
|
|
|
|
|||||||||||||||||||||||||
Corporate and other |
|
|
|
|
|||||||||||||||||||||||||
Total | $ |
|
|
|
|
Three Months Ended March 31, | |||||||||||||||||||||||||||||||||||
2020 | 2021 | ||||||||||||||||||||||||||||||||||
Automation Solutions | Commercial & Residential Solutions | Total | Automation Solutions | Commercial & Residential Solutions | Total | ||||||||||||||||||||||||||||||
Americas | $ |
|
|
|
|
|
|
||||||||||||||||||||||||||||
Asia, Middle East & Africa |
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Europe |
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Total | $ |
|
|
|
|
|
|
||||||||||||||||||||||||||||
Six Months Ended March 31, | |||||||||||||||||||||||||||||||||||
2020 | 2021 | ||||||||||||||||||||||||||||||||||
Automation Solutions | Commercial & Residential Solutions | Total | Automation Solutions | Commercial & Residential Solutions | Total | ||||||||||||||||||||||||||||||
Americas | $ |
|
|
|
|
|
|
||||||||||||||||||||||||||||
Asia, Middle East & Africa |
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Europe |
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Total | $ |
|
|
|
|
|
|
2020 | 2021 | Change | |||||||||||||||
Net sales | $ | 4,162 | 4,431 | 6 | % | ||||||||||||
Gross profit | $ | 1,750 | 1,862 | 6 | % | ||||||||||||
Percent of sales | 42.1 | % | 42.0 | % | |||||||||||||
SG&A | $ | 983 | 1,054 | 7 | % | ||||||||||||
Percent of sales | 23.7 | % | 23.8 | % | |||||||||||||
Other deductions, net | $ | 42 | 33 | ||||||||||||||
Amortization of intangibles | $ | 59 | 74 | ||||||||||||||
Restructuring costs | $ | 31 | 17 | ||||||||||||||
Interest expense, net | $ | 36 | 38 | ||||||||||||||
Earnings before income taxes | $ | 689 | 737 | 7 | % | ||||||||||||
Percent of sales | 16.6 | % | 16.6 | % | |||||||||||||
Net earnings common stockholders | $ | 517 | 561 | 9 | % | ||||||||||||
Percent of sales | 12.4 | % | 12.7 | % | |||||||||||||
Diluted earnings per share | $ | 0.84 | 0.93 | 11 | % | ||||||||||||
Three Months Ended Mar 31 | 2020 | 2021 | Change | ||||||||||||||
Sales | $ | 2,709 | 2,793 | 3 | % | ||||||||||||
Earnings | $ | 391 | 471 | 20 | % | ||||||||||||
Margin | 14.4 | % | 16.8 | % |
Sales by Major Product Offering | |||||||||||||||||
Measurement & Analytical Instrumentation | $ | 776 | 732 | (6) | % | ||||||||||||
Valves, Actuators & Regulators | 854 | 836 | (2) | % | |||||||||||||
Industrial Solutions | 494 | 555 | 12 | % | |||||||||||||
Systems & Software | 585 | 670 | 14 | % | |||||||||||||
Total | $ | 2,709 | 2,793 | 3 | % |
Three Months Ended Mar 31 | 2020 | 2021 | Change | ||||||||||||||
Sales: | |||||||||||||||||
Climate Technologies | $ | 1,026 | 1,160 | 13 | % | ||||||||||||
Tools & Home Products | 432 | 485 | 13 | % | |||||||||||||
Total | $ | 1,458 | 1,645 | 13 | % | ||||||||||||
Earnings: | |||||||||||||||||
Climate Technologies | $ | 217 | 245 | 13 | % | ||||||||||||
Tools & Home Products | 89 | 112 | 25 | % | |||||||||||||
Total | $ | 306 | 357 | 17 | % | ||||||||||||
Margin | 21.0 | % | 21.7 | % |
2020 | 2021 | Change | |||||||||||||||
Net sales | $ | 8,313 | 8,592 | 3 | % | ||||||||||||
Gross profit | $ | 3,509 | 3,585 | 2 | % | ||||||||||||
Percent of sales | 42.2 | % | 41.7 | % | |||||||||||||
SG&A | $ | 2,106 | 2,052 | (3) | % | ||||||||||||
Percent of sales | 25.3 | % | 23.9 | % | |||||||||||||
Other deductions, net | $ | 220 | 155 | ||||||||||||||
Amortization of intangibles | $ | 118 | 152 | ||||||||||||||
Restructuring costs | $ | 128 | 83 | ||||||||||||||
Interest expense, net | $ | 71 | 78 | ||||||||||||||
Earnings before income taxes | $ | 1,112 | 1,300 | 17 | % | ||||||||||||
Percent of sales | 13.4 | % | 15.1 | % | |||||||||||||
Net earnings common stockholders | $ | 843 | 1,006 | 19 | % | ||||||||||||
Percent of sales | 10.1 | % | 11.7 | % | |||||||||||||
Diluted earnings per share | $ | 1.37 | 1.67 | 22 | % | ||||||||||||
Six Months Ended Mar 31 | 2020 | 2021 | Change | ||||||||||||||
Sales | $ | 5,561 | 5,485 | (1) | % | ||||||||||||
Earnings | $ | 701 | 832 | 19 | % | ||||||||||||
Margin | 12.6 | % | 15.2 | % | |||||||||||||
Sales by Major Product Offering | |||||||||||||||||
Measurement & Analytical Instrumentation | $ | 1,571 | 1,430 | (9) | % | ||||||||||||
Valves, Actuators & Regulators | 1,767 | 1,642 | (7) | % | |||||||||||||
Industrial Solutions | 1,001 | 1,063 | 6 | % | |||||||||||||
Systems & Software | 1,222 | 1,350 | 10 | % | |||||||||||||
Total | $ | 5,561 | 5,485 | (1) | % |
Six Months Ended Mar 31 | 2020 | 2021 | Change | ||||||||||||||
Sales: | |||||||||||||||||
Climate Technologies | $ | 1,899 | 2,191 | 15 | % | ||||||||||||
Tools & Home Products | 862 | 930 | 8 | % | |||||||||||||
Total | $ | 2,761 | 3,121 | 13 | % | ||||||||||||
Earnings: | |||||||||||||||||
Climate Technologies | $ | 368 | 457 | 24 | % | ||||||||||||
Tools & Home Products | 175 | 210 | 20 | % | |||||||||||||
Total | $ | 543 | 667 | 23 | % | ||||||||||||
Margin | 19.7 | % | 21.4 | % |
Mar 31, 2020 | Sept 30, 2020 | Mar 31, 2021 | |||||||||||||||
Operating working capital | $ | 1,250 | $ | 866 | $ | 781 | |||||||||||
Current ratio | 1.0 | 1.5 | 1.3 | ||||||||||||||
Total debt-to-total capital | 50.6 | % | 47.1 | % | 44.4 | % | |||||||||||
Net debt-to-net capital | 40.5 | % | 33.2 | % | 35.1 | % | |||||||||||
Interest coverage ratio | 14.4 | X | 14.4 | X | 16.6 | X |
Period |
Total Number of Shares
Purchased |
Average Price Paid Per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs | |||||||||||||||||||||||||||||||
January 2021 | — | $0.00 | — | 65,339 | |||||||||||||||||||||||||||||||
February 2021 | 320 | $85.83 | 320 | 65,019 | |||||||||||||||||||||||||||||||
March 2021 | 460 | $90.01 | 460 | 64,559 | |||||||||||||||||||||||||||||||
Total | 780 | $88.30 | 780 | 64,559 |
3 |
Bylaws of Emerson Electric Co
., as amended through May 4, 2021, incorporated by reference to the Company's Form 8-K dated May 4, 2021, filed on May 4, 2021, File No. 1-278, Exhibit 3.1.
|
||||
10.1 |
Letter Agreement dated February 23, 2021
, by and between Emerson Electric Co. and David N. Farr, incorporated by reference to the Company's Form 8-K dated February 23, 2021, filed on February 26, 2021, File No. 1-278, Exhibit 10.1.
|
||||
10.2 |
Consulting Agreement dated February 23, 2021
, by and between Emerson Electric Co. and David N. Farr, incorporated by reference to the Company's Form 8-K dated February 23, 2021, filed on February 26, 2021, File No. 1-278, Exhibit 10.2.
|
||||
10.3 |
Letter Agreement dated February 16, 2021
entered into on March 8, 2021, by and between Emerson Electric Co. and Steven J. Pelch, incorporated by reference to the Company's Form 8-K dated March 8, 2021, filed on March 12, 2021, File No. 1-278, Exhibit 10.1.
|
||||
31 | |||||
32 | |||||
101 |
Attached as Exhibit 101 to this report are the following documents formatted in iXBRL (Inline Extensible Business Reporting Language): (i) Consolidated Statements of Earnings for the three and six months ended March 31, 2021 and 2020, (ii) Consolidated Statements of Comprehensive Income for the three and six months ended March 31, 2021 and 2020, (iii) Consolidated Balance Sheets as of September 30, 2020 and March 31, 2021, (iv) Consolidated Statements of Equity for the three and six months ended March 31, 2021 and 2020, (v) Consolidated Statements of Cash Flows for the six months ended March 31, 2021 and 2020, and (vi) Notes to Consolidated Financial Statements for the three and six months ended ended March 31, 2021 and 2020.
|
||||
104 |
Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).
|
EMERSON ELECTRIC CO. | ||||||||||||||
By | /s/ Frank J. Dellaquila | |||||||||||||
Frank J. Dellaquila | ||||||||||||||
Senior Executive Vice President and Chief Financial Officer | ||||||||||||||
(on behalf of the registrant and as Chief Financial Officer) | ||||||||||||||
May 5, 2021 |
No information found
* THE VALUE IS THE MARKET VALUE AS OF THE LAST DAY OF THE QUARTER FOR WHICH THE 13F WAS FILED.
FUND | NUMBER OF SHARES | VALUE ($) | PUT OR CALL |
---|---|---|---|
GEODE CAPITAL MANAGEMENT, LLC | 11,685,615 | 1,443,724,752 | |
Parametric Portfolio Associates LLC | 2,269,566 | 222,531 | |
AMUNDI | 2,209,372 | 265,787,452 | |
VAN ECK ASSOCIATES CORP | 2,008,081 | 248,862 | |
Clearbridge Investments, LLC | 1,513,435 | 187,560,061 | |
BNP PARIBAS FINANCIAL MARKETS | 1,013,250 | 178,844,374 | |
DnB Asset Management AS | 868,437 | 107,625,397 | |
CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | 865,388 | 107,247,535 | |
HUNTINGTON NATIONAL BANK | 809,372 | 100,305,673 | |
Twin Tree Management, LP | 692,440 | 85,814,089 | |
Janney Montgomery Scott LLC | 650,152 | 71,283 | |
EAGLE ASSET MANAGEMENT INC | 563,387 | 71,696,695 | |
Avalon Investment & Advisory | 501,695 | 43,717,726 | |
NEW YORK STATE TEACHERS RETIREMENT SYSTEM | 445,815 | 48,879 | |
GREAT LAKES ADVISORS, LLC | 350,143 | 43,393,272 | |
KLP KAPITALFORVALTNING AS | 297,413 | 36,858,393 | |
STRS OHIO | 265,297 | 29,015,533 | |
CAMPBELL NEWMAN ASSET MANAGEMENT INC | 252,917 | 27,729,820 | |
Canoe Financial LP | 247,263 | 27,109,915 | |
PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | 242,822 | 30,092,930 | |
Tredje AP-fonden | 231,106 | 28,640,966 | |
Russell Investments Group, Ltd. | 214,408 | 27,903,161 | |
Bollard Group LLC | 210,364 | 26,070 | |
TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY | 208,005 | 22,806 | |
PALLADIUM PARTNERS LLC | 207,438 | 20,339 | |
FARMERS & MERCHANTS INVESTMENTS INC | 189,600 | 20,787,744 | |
NISA INVESTMENT ADVISORS, LLC | 189,227 | 20,746,848 | |
BOKF, NA | 186,436 | 21,988,262 | |
Foundry Partners, LLC | 175,239 | 19,213,204 | |
BAHL & GAYNOR INC | 156,313 | 19,371,870 | |
TRUST CO OF VERMONT | 156,258 | 17,132,127 | |
TRIGLAV SKLADI, D.O.O. | 146,960 | 18,212,753 | |
KORNITZER CAPITAL MANAGEMENT INC /KS | 144,252 | 15,815,789 | |
First Horizon Advisors, Inc. | 141,112 | 15,471,664 | |
YOUSIF CAPITAL MANAGEMENT, LLC | 135,818 | 14,891,071 | |
Sanibel Captiva Trust Company, Inc. | 135,601 | 14,867,293 | |
Azimuth Capital Management LLC | 128,060 | 12,556 | |
Baird Financial Group, Inc. | 121,091 | 15,006,828 | |
UNITED CAPITAL FINANCIAL ADVISORS, LLC | 120,222 | 14,899,164 | |
ADELL HARRIMAN & CARPENTER INC | 116,424 | 12,764,755 | |
FORSTA AP-FONDEN | 115,400 | 14,301,522 | |
Bartlett & Co. LLC | 103,351 | 10,036 | |
FIRST AMERICAN TRUST, FSB | 100,798 | 12,491,864 | |
SIT INVESTMENT ASSOCIATES INC | 97,299 | 12,058 | |
WOODSTOCK CORP | 96,105 | 10,536,952 | |
BARTLETT & CO. WEALTH MANAGEMENT LLC | 95,677 | 10,490,005 | |
Impax Asset Management Group plc | 94,207 | 10,328,901 | |
COLONY GROUP LLC | 93,099 | 8,991 | |
Janney Capital Management LLC | 91,754 | 10,060 | |
WEDGE CAPITAL MANAGEMENT L L P/NC | 88,702 | 9,725,287 | |
Police & Firemen's Retirement System of New Jersey | 83,270 | 10,319,651 | |
Mediolanum International Funds Ltd | 81,378 | 10,087,190 | |
Degroof Petercam Asset Management | 81,000 | 9,187,020 | |
Nearwater Capital Markets, Ltd | 80,225 | 9,942,284 | |
PUBLIC EMPLOYEES RETIREMENT ASSOCIATION OF COLORADO | 77,199 | 9,567 | |
Tufton Capital Management | 76,727 | 9,508,829 | |
Iowa State Bank | 73,227 | 8,028,608 | |
Azimuth Capital Investment Management LLC | 71,234 | 8,828,030 | |
GLENVIEW STATE BANK TRUST DEPT. | 71,082 | 6,841 | |
MACKENZIE FINANCIAL CORP | 69,225 | 8,405,125 | |
Busey Bank | 68,457 | 8,483,879 | |
PRIVATE ASSET MANAGEMENT INC | 66,326 | 6,405,138 | |
DUPONT CAPITAL MANAGEMENT CORP | 64,864 | 7,111,689 | |
Exchange Capital Management, Inc. | 64,485 | 7,070,148 | |
Boston Trust Walden Corp | 62,258 | 6,825,967 | |
Ethic Inc. | 62,191 | 7,707,390 | |
MassMutual Private Wealth & Trust, FSB | 59,885 | 6,565,791 | |
ROANOKE ASSET MANAGEMENT CORP/ NY | 58,267 | 7,221 | |
MainStreet Investment Advisors LLC | 58,101 | 6,370,194 | |
Trust Co of Kansas | 57,682 | 6,324 | |
Community Bank, N.A. | 54,668 | 5,993,776 | |
Argent Trust Co | 52,019 | 6,446,721 | |
HUDSON EDGE INVESTMENT PARTNERS INC. | 50,329 | 5,518,072 | |
BROWN BROTHERS HARRIMAN & CO | 50,076 | 6,205,919 | |
INDEPENDENT INVESTORS INC | 49,000 | 5,372,360 | |
OREGON PUBLIC EMPLOYEES RETIREMENT FUND | 48,428 | 5,309,646 | |
Pacer Advisors, Inc. | 46,652 | 5,781,582 | |
JARISLOWSKY, FRASER Ltd | 45,660 | 5,658,643 | |
Thomasville National Bank | 45,539 | 4,992,896 | |
NEVILLE RODIE & SHAW INC | 43,537 | 4,773 | |
LEAVELL INVESTMENT MANAGEMENT, INC. | 42,724 | 4,684,210 | |
RAYMOND JAMES TRUST N.A. | 42,548 | 4,653,476 | |
Lipe & Dalton | 42,220 | 4,629 | |
ROTHSCHILD INVESTMENT LLC /IL | 40,251 | 3,887 | |
BOENNING & SCATTERGOOD, INC. | 39,459 | 3,869 | |
GREENLEAF TRUST | 36,096 | 3,957,565 | |
ECOFI INVESTISSEMENTS SA | 35,800 | 4,110,664 | |
Desjardins Global Asset Management Inc. | 33,809 | 3,290,630 | |
TIAA TRUST, NATIONAL ASSOCIATION | 33,507 | 4,152,523 | |
Community Financial Services Group, LLC | 31,236 | 3,424,716 | |
Sterling Capital Management LLC | 29,880 | 3,703,028 | |
TIAA, FSB | 29,737 | 2,687,927 | |
THURSTON, SPRINGER, MILLER, HERD & TITAK, INC. | 29,405 | 3,224,074 | |
BESSEMER GROUP INC | 29,030 | 3,183 | |
Ledyard National Bank | 28,600 | 3,135,704 | |
NEW MEXICO EDUCATIONAL RETIREMENT BOARD | 26,650 | 2,922 | |
CARRET ASSET MANAGEMENT, LLC | 25,715 | 2,819,439 | |
RESOURCES MANAGEMENT CORP /CT/ /ADV | 25,531 | 3,164 | |
LeJeune Puetz Investment Counsel LLC | 25,185 | 2,194,621 | |
Zurich Insurance Group Ltd/FI | 24,235 | 3,003,444 |
DIRECTORS | AGE | BIO | OTHER DIRECTOR MEMBERSHIPS |
---|---|---|---|
Qualifications Mr. Karsanbhai is the President and Chief Executive Officer of Emerson. Mr. Karsanbhai’s qualifications to serve on the Board also include his prior leadership and global business experience, including as Executive President of Emerson’s Automation Solutions business from October 2018 to February 2021, Group President of Emerson’s Rosemount measurement & analytical business from 2016 to 2018, President of Emerson’s former Network Power business in Europe, Middle East and Africa from 2014 to 2016, and VP of Planning with responsibility for Emerson’s global strategy from 2012 to 2014, and various other roles with Emerson since 1995. Mr. Karsanbhai is also the Deputy Chair of the St. Louis Federal Reserve Bank’s Board of Directors. | |||
Name and Principal
Position |
Fiscal
Year |
Salary
($) |
Bonus
($) |
Stock
Awards ($) |
Option
Awards ($) |
Non-Equity
Incentive Plan Compensation ($) |
Change in
Pension Value and Nonqualified Deferred Compensation Earnings($) |
All Other
Compensation ($) |
Total
($) |
||||||||||||||||||||
S. L. Karsanbhai
President and
Chief Executive Officer
|
2024
|
1,475,000 | — | 14,027,854 | — | 3,973,595 | 154,000 | 465,834 | 20,096,283 | ||||||||||||||||||||
2023 | 1,410,000 | — | 12,912,123 | — | 3,600,576 | 11,000 | 383,495 | 18,317,194 | |||||||||||||||||||||
2022 | 1,260,000 | 2,600,000 | 11,060,131 | — | — | — | 257,975 | 15,178,106 | |||||||||||||||||||||
M. J. Baughman
Executive Vice President, Chief Financial Officer and Chief Accounting Officer
|
2024
|
840,000 | — | 2,805,516 | — | 1,331,400 | — | 164,956 | 5,141,872 | ||||||||||||||||||||
2023
|
630,923 | — | 2,712,487 | — | 941,640 | — | 109,232 | 4,394,282 | |||||||||||||||||||||
R. R. Krishnan
Executive Vice President and Chief Operating Officer
|
2024
|
900,000 | — | 6,011,951 | — | 1,743,500 | 198,000 | 90,385 | 8,943,836 | ||||||||||||||||||||
2023
|
825,000 | — | 3,761,327 | — | 1,635,900 | 29,000 | 79,537 | 6,330,764 | |||||||||||||||||||||
2022
|
750,000 | 1,050,000 | 3,423,316 | — | — | — | 73,223 | 5,296,539 | |||||||||||||||||||||
M. H. Train
Senior Vice President and Chief Sustainability Officer
|
2024 | $770,000 | — | 2,003,952 | — | 1,188,750 | 153,000 | 165,322 | 4,281,024 | ||||||||||||||||||||
2023 | 730,000 | — | 2,245,559 | — | 1,117,200 | 33,000 | 128,690 | 4,254,449 | |||||||||||||||||||||
2022 | 700,000 | 630,000 | 1,579,961 | — | — | — | 82,137 | 2,992,098 | |||||||||||||||||||||
M. Tang
Senior Vice President, Secretary and Chief Legal Officer
|
2024
|
525,671 | 200,000 | 3,847,626 | — | 713,250 | — | 78,095 | 5,364,642 |
Customers
Price
Yield
Owner | Position | Direct Shares | Indirect Shares |
---|---|---|---|
DELLAQUILA FRANK J | - | 268,810 | 75,315 |
Train Michael H. | - | 265,416 | 841 |
Train Michael H. | - | 231,852 | 1,316 |
Karsanbhai Surendralal Lanca | - | 205,863 | 1,131 |
Karsanbhai Surendralal Lanca | - | 181,913 | 2,107 |
Karsanbhai Surendralal Lanca | - | 138,208 | 1,131 |
Karsanbhai Surendralal Lanca | - | 138,208 | 1,131 |
Krishnan Ram R. | - | 60,984 | 501 |
Flavin Lisa | - | 54,008 | 2,055 |
Krishnan Ram R. | - | 46,232 | 491 |
Tang Michael | - | 30,047 | 0 |
BOLTEN JOSHUA B. | - | 30,043 | 0 |
LEVATICH MATTHEW S | - | 24,574 | 0 |
Piazza Nicholas J. | - | 22,754 | 0 |
Ramnath Vidya | - | 11,870 | 0 |
McKelvey James Morgan Jr. | - | 11,419 | 0 |
BLINN MARK A | - | 9,200 | 0 |
BUTLER CALVIN JR | - | 762 | 0 |