Company: ROK
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0001024478-25-000010
Chunk: 60

Company: ROCKWELL AUTOMATION, INC
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 8
Chunk 60
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 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 directors and the weighted average fair value per share during the periods presented were (in thousands, except per share amounts): Three Months Ended December 31, 20242023GrantsWtd. Avg.ShareFair ValueGrantsWtd. Avg.ShareFair ValueStock options190 $93 217 $86 Performance shares58 388 79 295 Restricted stock units86 296 235 276 Unrestricted stock6 297 5 280 

4. Inventories

Inventories consist of (in millions):December 31, 2024September 30, 2024Finished goods$446 $475 Work in process312 344 Raw materials476 474 Inventories$1,234 $1,293 

5. Acquisitions

2024 AcquisitionsIn October 2023, we acquired Clearpath Robotics, Inc., including its industrial division OTTO Motors (Clearpath), a company that specializes in autonomous robotics for industrial applications, headquartered in Ontario, Canada. We recorded assets acquired and liabilities assumed in connection with this acquisition based on their estimated fair values as of the acquisition date of October 2, 2023. The aggregate purchase price allocation is as follows (in millions):Purchase Price AllocationReceivables$8 Inventory22 Goodwill 283 Intangible assets