¹Total segment operating earnings and total segment operating margin are non-GAAP financial measures. We exclude purchase accounting depreciation and amortization, general corporate – net, non-operating pension and postretirement benefit credit (cost), gains and losses on investments, valuation adjustments related to the registration of PTC Shares, gains and losses from the disposition of businesses, interest (expense) income, net and income tax provision because we do not consider these costs to be directly related to the operating performance of our segments. We believe total segment operating earnings and total segment operating margin are useful to investors as measures of operating performance. We use these measures to monitor and evaluate the profitability of our operating segments. Our measures of total segment operating earnings and total segment operating margin may be different from measures used by other companies.

²Adjusted EPS is a non-GAAP earnings measure that excludes non-operating pension and postretirement benefit (cost) credit, net income (loss) attributable to noncontrolling interests, gains and losses on investments, and valuation adjustments related to the registration of PTC Shares, including their respective tax effects. See "Other Supplemental Information - Adjusted Income, Adjusted EPS and Adjusted Effective Tax Rate" section for more information regarding non-operating pension and postretirement benefit (cost) credit and a reconciliation to GAAP measures.

ROCKWELL AUTOMATION, INC. CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (in millions)
		Three Months Ended December 31,
		2019				2018
Sales (a)		$	1,684.5			$	1,642.3
Cost of sales		(981.6		)		(903.6		)
Gross profit (b)		702.9				738.7
Selling, general and administrative expenses (c)		(403.2		)		(386.7		)
Change in fair value of investments1		71.0				(212.7		)
Other income (expense)		(9.7		)		2.2
Interest expense		(26.4		)		(20.7		)
Income before income taxes		334.6				120.8
Income tax provision2		(19.2		)		(40.5		)
Net income		315.4				80.3
Net income attributable to noncontrolling interests		4.7				—
Net income attributable to Rockwell Automation, Inc.		$	310.7			$	80.3
Gross profit as percent of sales (b/a)		41.7		%		45.0		%
SG&A as percent of sales (c/a)		23.9		%		23.5		%

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