Company: ROK
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0001024478-25-000010
Chunk: 7

Company: ROCKWELL AUTOMATION, INC
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 1
Chunk 7
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, 2023Intelligent DevicesSoftware & ControlLifecycle ServicesTotalIntelligent DevicesSoftware & ControlLifecycle ServicesTotalNorth America$519 $365 $266 $1,150 $604 $387 $256 $1,247 Europe, Middle East, and Africa135 73 124 332 166 100 122 388 Asia Pacific86 55 110 251 98 79 99 276 Latin America66 36 46 148 59 38 44 141 Total Company Sales$806 $529 $546 $1,881 $927 $604 $521 $2,052 Contract LiabilitiesContract liabilities primarily relate to consideration received in advance of performance under the contract.Below is a summary of our Contract liabilities balance, the portion not expected to be recognized within twelve months is included within Other liabilities in the Consolidated Balance Sheet (in millions):December 31, 2024December 31, 2023Balance as of beginning of year$653 $654 Balance as of end of period680 674 The most significant changes in our Contract liabilities balance during both the three months ended December 31, 2024 and 2023, were due to amounts billed during the period, partially offset by revenue recognized that was included in the Contract liabilities balance at the beginning of the period and revenue recognized on amounts billed during the period.In the three months ended December 31, 2024, we recognized revenue of approximately $273 million that was included in the Contract liabilities balance at September 30, 2024. In the three months ended December 31, 2023, we recognized revenue of approximately $238 million that was included in the Contract liabilities balance at September 30, 2023. We did not have a material amount of revenue recognized in the three months ended December 31, 2024 and 2023, from performance obligations satisfied or partially satisfied in previous periods.

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Table of ContentsROCKWELL AUTOMATION, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)(Unaudited)

3. Share-Based Compensation

We recognized $23 million and $24 million of pre-tax share-based compensation expense during the three months ended December 31, 2024 and 2023, respectively. Our annual grant of share-based compensation takes place during the first quarter of each year. The number of shares granted to employees and non-employee