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

Company: ROCKWELL AUTOMATION, INC
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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2024$— $5 $5 The consideration for the amount earned for the first performance period was paid during the third quarter of 2024. The contingent consideration for the second performance period is included in Other current liabilities at December 31, 2024, and September 30, 2024. Any amount earned for the second performance period will be paid during the third quarter of 2025. 

13

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

In November 2023, we acquired Verve Industrial Protection (Verve), a cybersecurity software and services company that focuses specifically on industrial environments. We recorded assets acquired and liabilities assumed in connection with this acquisition based on their estimated fair values as of the acquisition date of November 1, 2023. The aggregate purchase price allocation is as follows (in millions):Purchase Price AllocationReceivables$8 Goodwill 133 Intangible assets47 All other assets1 Total assets acquired189 Less: Liabilities assumed(6)Net assets acquired$183 Purchase ConsiderationTotal purchase consideration, net of cash acquired$183 We assigned the full amount of goodwill to our Lifecycle Services segment. We expect the goodwill to be deductible for tax purposes. The goodwill recorded represents intangible assets that do not qualify for separate recognition. Pro forma consolidated sales for the three months ended December 31, 2023, were $2.1 billion, and the impact on earnings was not material. The preceding pro forma consolidated financial results of operations are as if the preceding 2024 acquisitions occurred on October 1, 2023. The pro forma information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved had the transaction occurred as of that time.

Total sales from all of the above 2024 acquisitions in the three months ended December 31, 2023, were $17 million. Total acquisition-related costs and earnings from all of the above 2024 acquisitions in the three months ended December 31, 2023, were not material. 

6. Goodwill and Other Intangible Assets

Changes in the carrying amount of Goodwill for the three months ended December 31, 2024, were (in millions):Intelligent DevicesSoftware & ControlLifecycle ServicesTotalBalance as of September 30, 2024$900 $2,437 $656