Rockwell Automation Files 2024 10-K
Ticker: ROK · Form: 10-K · Filed: Nov 12, 2024 · CIK: 1024478
Sentiment: neutral
Topics: 10-K, annual-report, financials
TL;DR
ROK's 2024 10-K is in! Full financial picture for the year ending 9/30.
AI Summary
Rockwell Automation, Inc. filed its 10-K for the fiscal year ending September 30, 2024. The filing details the company's financial performance and business operations. Key financial data and operational aspects are presented, providing a comprehensive overview for investors and stakeholders.
Why It Matters
This 10-K filing provides a detailed look into Rockwell Automation's financial health and strategic direction for the past fiscal year, crucial for understanding its market position and future prospects.
Risk Assessment
Risk Level: medium — The filing is a standard annual report and does not inherently indicate new or elevated risks.
Key Numbers
- 20240930 — Fiscal Year End (The reporting period for the 10-K filing.)
- 20241112 — Filing Date (The date the 10-K was officially submitted to the SEC.)
Key Players & Entities
- ROCKWELL AUTOMATION, INC (company) — Filer
- 20240930 (date) — Fiscal Year End
- 20241112 (date) — Filing Date
- MILWAUKEE (location) — Company Headquarters City
- 0001024478-24-000107 (accession_number) — SEC Filing Accession Number
FAQ
What is Rockwell Automation's fiscal year end?
Rockwell Automation's fiscal year ends on September 30, as indicated by the 'CONFORMED PERIOD OF REPORT: 20240930'.
When was this 10-K filing submitted?
This 10-K filing was submitted on November 12, 2024, as shown by 'FILED AS OF DATE: 20241112'.
What is the company's primary business address?
The company's business address is 1201 SOUTH 2ND STREET, MILWAUKEE, WI 53204.
What is the SEC file number for Rockwell Automation?
The SEC file number for Rockwell Automation is 001-12383.
What is the accession number for this specific filing?
The accession number for this filing is 0001024478-24-000107.
Filing Stats: 4,345 words · 17 min read · ~14 pages · Grade level 15.1 · Accepted 2024-11-12 15:34:04
Key Financial Figures
- $1.00 — ange on which registered Common Stock ($1.00 par value) ROK New York Stock Exchange
- $1 — of registrant's Common Stock, par value $1 per share, were outstanding on October
Filing Documents
- rok-20240930.htm (10-K) — 2955KB
- exhibit19-companypolicyand.htm (EX-19) — 58KB
- rok10k2024ex21.htm (EX-21) — 39KB
- rok10k2024ex23.htm (EX-23) — 2KB
- rok10k2024ex24.htm (EX-24) — 36KB
- rok10k2024ex311.htm (EX-31.1) — 8KB
- rok10k2024ex312.htm (EX-31.2) — 8KB
- rok10k2024ex321.htm (EX-32.1) — 4KB
- rok10k2024ex322.htm (EX-32.2) — 4KB
- ralogo.gif (GRAPHIC) — 68KB
- rok-20240930_g1.jpg (GRAPHIC) — 38KB
- 0001024478-24-000107.txt ( ) — 17079KB
- rok-20240930.xsd (EX-101.SCH) — 91KB
- rok-20240930_cal.xml (EX-101.CAL) — 180KB
- rok-20240930_def.xml (EX-101.DEF) — 539KB
- rok-20240930_lab.xml (EX-101.LAB) — 1229KB
- rok-20240930_pre.xml (EX-101.PRE) — 939KB
- rok-20240930_htm.xml (XML) — 3190KB
Risk Factors
Item 1A. Risk Factors 5
Unresolved Staff Comments
Item 1B. Unresolved Staff Comments 12
Cybersecurity
Item 1C. Cybersecurity 12
Properties
Item 2. Properties 13
Legal Proceedings
Item 3. Legal Proceedings 13
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 14
Information about our Executive Officers
Item 4A. Information about our Executive Officers 14 PART II
Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 15
[Reserved]
Item 6. [Reserved] 17
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 17
Quantitative and Qualitative Disclosures About Market Risk
Item 7A. Quantitative and Qualitative Disclosures About Market Risk 40
Financial Statements and Supplementary Data
Item 8. Financial Statements and Supplementary Data 41 CONSOLIDATED BALANCE SHEET 41 CONSOLIDATED STATEMENT OF OPERATIONS 42 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 43 CONSOLIDATED STATEMENT OF CASH FLOWS 44 CONSOLIDATED STATEMENT OF SHAREOWNERS' EQUITY 45
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 46
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 90
Controls and Procedures
Item 9A. Controls and Procedures 90
Other Information
Item 9B. Other Information 90
Disclosure Regarding Foreign Jurisdictions that Prevent Inspections
Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 91 PART III
Directors, Executive Officers and Corporate Governance
Item 10. Directors, Executive Officers and Corporate Governance 92
Executive Compensation
Item 11. Executive Compensation 92
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 92
Certain Relationships and Related Transactions, and Director Independence
Item 13. Certain Relationships and Related Transactions, and Director Independence 93
Principal Accountant Fees and Services
Item 14. Principal Accountant Fees and Services 93 PART IV
Exhibits and Financial Statement Schedules
Item 15. Exhibits and Financial Statement Schedules 94
Form 10-K Summary
Item 16. Form 10-K Summary 97
SIGNATURES
SIGNATURES Table of Contents PART I
FORWARD-LOOKING STATEMENTS
FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains statements (including certain projections and business trends) that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Words such as "believe", "estimate", "project", "plan", "expect", "anticipate", "will", "intend", and other similar expressions may identify forward-looking statements. Actual results may differ materially from those projected as a result of certain risks and uncertainties, many of which are beyond our control, including but not limited to: macroeconomic factors, including inflation, global and regional business conditions (including adverse impacts in certain markets, such as Oil & Gas), commodity prices, currency exchange rates, the cyclical nature of our customers' capital spending, and sovereign debt concerns; the severity and duration of disruptions to our business due to natural disasters (including those as a result of climate change), pandemics, acts of war, strikes, terrorism, social unrest or other causes; the availability and price of components and materials; the availability, effectiveness, and security of our information technology systems; our ability to manage and mitigate the risk related to security vulnerabilities and breaches of our hardware and software products, solutions, and services; the successful execution of our cost productivity and margin expansion initiatives; our ability to attract, develop, and retain qualified employees; the successful integration and management of strategic transactions and achievement of the expected benefits of these transactions; laws, regulations, and governmental policies affecting our activities in the countries where we do business, including those related to tariffs, taxation, trade controls, cybersecurity, and climate change; the successful development of advanced technologies and demand for and market acceptance of new and existing hardware and software products
Business
Item 1. Business General Rockwell Automation, Inc. (Rockwell Automation or the Company) is the world's largest company dedicated to industrial automation and digital transformation. We understand and simplify our customers' complex production challenges and deliver the most valued solutions that combine technology and industry expertise. As a result, we make our customers more resilient, agile, and sustainable, creating more ways to win. See Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A) for additional information on our business and long-term strategy. The Company continues the business founded as the Allen-Bradley Company in 1903. The privately-owned Allen-Bradley Company was a leading North American manufacturer of industrial automation equipment when the former Rockwell International Corporation (RIC) purchased it in 1985. The Company was incorporated in Delaware in connection with a tax-free reorganization completed on December 6, 1996, pursuant to which we divested our former aerospace and defense businesses (the A&D Business) to The Boeing Company (Boeing). In the reorganization, RIC contributed all of its businesses, other than the A&D Business, to the Company and distributed all capital stock of the Company to RIC's shareowners. Boeing then acquired RIC. As used herein, the terms "we", "us", "our", "Rockwell Automation", or the "Company" include wholly-owned and controlled majority-owned subsidiaries and predecessors unless the context indicates otherwise. Information included in this Annual Report on Form 10-K refers to our continuing businesses unless otherwise indicated. Whenever an Item of this Annual Report on Form 10-K refers to information in our Proxy Statement for our Annual Meeting of Shareowners to be held on February 4, 2025 (the Proxy Statement), or to information under specific captions in Item 7. MD&A , or in Item 8. Financial Statements and Supplementary Data (the Consolidated Finan
Risk Factors
Item 1A. Risk Factors In the ordinary course of our business, we face various strategic, operating, compliance, cybersecurity, and financial risks. These risks could have an impact on our business, financial condition, operating results, and cash flows. Our most significant risks are set forth below and elsewhere in this Annual Report on Form 10-K. Our Enterprise Risk Management (ERM) process seeks to identify and address significant risks. Our ERM process assesses, manages, and monitors risks consistent with the integrated risk framework in the Enterprise Risk Management - Integrated Framework (2017) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). We believe that risk-taking is an inherent aspect of the pursuit of our strategy. Our goal is to manage risks prudently rather than avoid risks. We can mitigate risks and their impact on the Company only to a limited extent. A team of senior executives prioritizes identified risks and assigns an executive to address each major identified risk area and lead action plans to manage risks. Our Board of Directors provides oversight of the ERM process and reviews significant identified risks. The Audit Committee of the Board of Directors also reviews significant financial risk exposures, and the steps management has taken to monitor and manage them. Our other Board committees also play a role in risk management, as set forth in their respective charters. Our goal is to proactively manage risks using a structured approach in conjunction with strategic planning, with the intent to preserve and enhance shareowner value. However, the risks set forth below and elsewhere in this Annual Report on Form 10-K and other risks and uncertainties could adversely affect us and cause our results to vary materially from recent results or from our anticipated future results. Industry and Economic Risks Adverse changes in macroeconomic or industry conditions may result in decreases in our sales and pro