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Document and Company Information - USD ($) $ in Billions	9 Months Ended
Document and Company Information - USD ($) $ in Billions	Jun. 30, 2009	Jul. 20, 2009	Mar. 31, 2008
Document and Company Information [Abstract]
Entity Registrant Name	AIR PRODUCTS AND CHEMICALS, INC.
Entity Central Index Key	0000002969
Document Type	10-Q
Document Period End Date	Jun. 30, 2009
Amendment Flag	false
Amendment Description	N/A
Current Fiscal Year End Date	--09-30
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 19.4
Entity Common Stock, Shares Outstanding		210,081,686

Consolidated Balance Sheets - USD ($) $ in Millions	9 Months Ended	12 Months Ended
Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2009	Sep. 30, 2008
CURRENT ASSETS
Cash and cash items	$ 70.3	$ 103.5
Trade receivables, less allowances for doubtful accounts	1,332.6	1,575.2
Inventories	495.8	503.7
Contracts in progress, less progress billings	115.3	152.0
Prepaid expenses	96.0	107.7
Other receivables and current assets	445.6	349.4
Current assets of discontinued operations	15.5	56.6
TOTAL CURRENT ASSETS	2,571.1	2,848.1
INVESTMENT IN NET ASSETS OF AND ADVANCES TO EQUITY AFFILIATES	820.6	822.6
PLANT AND EQUIPMENT, at cost	15,254.7	14,988.6
Less accumulated depreciation	8,579.7	8,373.8
PLANT AND EQUIPMENT, net	6,675.0	6,614.8
GOODWILL	872.7	928.1
INTANGIBLE ASSETS, net	251.4	289.6
NONCURRENT CAPITAL LEASE RECEIVABLES	569.4	505.3
OTHER NONCURRENT ASSETS	478.9	504.1
NONCURRENT ASSETS OF DISCONTINUED OPERATIONS	4.4	58.7
TOTAL ASSETS	12,243.5	12,571.3
CURRENT LIABILITIES
Payables and accrued liabilities	1,299.7	1,665.6
Accrued income taxes	84.7	87.0
Short-term borrowings	385.6	419.3
Current portion of long-term debt	3.8	32.1
Current liabilities of discontinued operations	19.0	8.0
TOTAL CURRENT LIABILITIES	1,792.8	2,212.0
LONG-TERM DEBT	3,755.8	3,515.4
DEFERRED INCOME & OTHER NONCURRENT LIABILITIES	1,040.7	1,049.2
DEFERRED INCOME TAXES	591.0	626.6
NONCURRENT LIABILITIES OF DISCONTINUED OPERATIONS	0.3	1.2
TOTAL LIABILITIES	7,180.6	7,404.4
MINORITY INTEREST IN SUBSIDIARY COMPANIES	$ 134.6	$ 136.2
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY
Common stock (par value $1 per share; 2009 and 2008 - 249,455,584 shares)	$ 249.4	$ 249.4
Capital in excess of par value	821.6	811.7
Retained earnings	7,086.6	6,990.2
Accumulated other comprehensive income (loss)	(803.6)	(549.3)
Treasury stock, at cost (2009 - 39,373,898 shares; 2008 - 40,120,957 shares)	(2,425.7)	(2,471.3)
TOTAL SHAREHOLDERS' EQUITY	4,928.3	5,030.7
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 12,243.5	$ 12,571.3

Consolidated Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 2009	Sep. 30, 2008
Statement [Line Items]
Common stock, par value	$ 1	$ 1
Common stock, shares	249,455,584	249,455,584
Treasury stock, shares	39,373,898	40,120,957

Consolidated Income Statements - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2009	Jun. 30, 2008	Jun. 30, 2009	Jun. 30, 2008
Statement [Line Items]
SALES	$ 1,976.2	$ 2,749.7	$ 6,126.9	$ 7,699.8
Cost of sales	1,427.5	2,041.1	4,497.1	5,666.3
Selling and administrative	232.3	284.4	709.9	815.0
Research and development	24.1	33.1	86.9	97.7
Global cost reduction plan	124.0	0.0	298.2	0.0
Customer bankruptcy	22.2	0.0	22.2	0.0
Pension settlement	8.0	1.0	8.0	28.7
Other income, net	5.7	3.6	13.7	30.6
OPERATING INCOME	143.8	393.7	518.3	1,122.7
Equity affiliates' income	28.5	46.5	80.0	114.2
Interest expense	27.5	39.5	94.0	119.2
INCOME FROM CONTINUING OPERATIONS BEFORE TAXES AND MINORITY INTEREST	144.8	400.7	504.3	1,117.7
Income tax provision	25.4	98.1	99.0	282.4
Minority interest in earnings of subsidiary companies	4.8	7.6	11.4	18.2
INCOME FROM CONTINUING OPERATIONS	114.6	295.0	393.9	817.1
LOSS FROM DISCONTINUED OPERATIONS, net of tax	(1.4)	(224.9)	(6.5)	(169.0)
NET INCOME	$ 113.2	$ 70.1	$ 387.4	$ 648.1
BASIC EARNINGS PER COMMON SHARE
Income from continuing operations	$ 0.55	$ 1.4	$ 1.88	$ 3.84
Loss from discontinued operations	(0.01)	(1.07)	(0.03)	(0.79)
Net Income	0.54	0.33	1.85	3.05
DILUTED EARNINGS PER COMMON SHARE
Income from continuing operations	0.54	1.35	1.85	3.72
Loss from discontinued operations	(0.01)	(1.03)	(0.03)	(0.77)
Net Income	$ 0.53	$ 0.32	$ 1.82	$ 2.95
WEIGHTED AVERAGE OF COMMON SHARES OUTSTANDING	209.8	211.2	209.6	212.8
WEIGHTED AVERAGE OF COMMON SHARES OUTSTANDING ASSUMING DILUTION	214.0	218.2	212.8	219.9
DIVIDENDS DECLARED PER COMMON SHARE - Cash	$ 0.45	$ 0.44	$ 1.34	$ 1.26

Consolidated Comprehensive Income Statements - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Jun. 30, 2009

Jun. 30, 2008

Jun. 30, 2009

Jun. 30, 2008

Statement [Line Items]

NET INCOME

$ 113.2

$ 70.1

$ 387.4

$ 648.1

OTHER COMPREHENSIVE INCOME (LOSS), net of tax:

Net unrealized holding gain (loss) on investments, net of income tax of $1.5 (3 months 2009), $1.4 ( 3 months 2008), $1.1 (9 months 2009), $(.8) (9 months 2008), respectively

2.6

2.5

1.8

(1.7)

Net unrecognized gain (loss) on derivatives qualifying as hedges, net of income tax (benefit) of $2.6 (3 months 2009), $(1.3) (3 months 2008), $(.2) (9 months 2009), $(7.7) (9 months 2008), respectively

^[1]

5.4

(3.0)

(0.3)

(14.2)

Foreign currency translation adjustments, net of income tax (benefit) of $(30.5) (3 months 2009), $8.1 (3 months 2008), $(25.8) (9 months 2009), $(62.5) (9 months 2008), respectively

253.4

(10.8)

(284.7)

136.6

Reclassification adjustment for foreign currency translation adjustment realized in net income

^[2]

0.0

(53.7)

Pension and postretirement benefits, net of tax (benefit) of $(13.6) (3 months 2009), $- (3 months 2008), $(13.6) (9 months 2009), $(10.3) (9 months 2008), respectively

(22.7)

0.0

(22.7)

(13.8)

Pension and postretirement benefits reclassified to earnings, net of tax of $4.7 (3 months 2009), $3.7 (3 months 2008), $7.3 (9 months 2009), $20.7(9 months 2008), respectively

8.7

7.3

15.8

38.6

TOTAL OTHER COMPREHENSIVE INCOME (LOSS)

247.4

(4.0)

(290.1)

91.8

COMPREHENSIVE INCOME

$ 360.6

$ 66.1

$ 97.3

$ 739.9

[1]	Amounts reclassified from other comprehensive income into earnings in 2009 and 2008 were not material. See Note 5.
[2]	In the second quarter of 2008, the Company completed the sale of its Polymer Emulsions business as discussed in Note 4. Accordingly, the related foreign currency translation results of this business were reclassified from other comprehensive income into earnings.

- Consolidated Comprehensive Income Statements (Parenthetical) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Jun. 30, 2009

Jun. 30, 2008

Jun. 30, 2009

Jun. 30, 2008

Statement [Line Items]

Tax effects on net unrealized holding gain (loss) on investments

$ 1.5

$ 1.4

$ 1.1

$ (0.8)

Tax effects on net unrecognized gain (loss) on derivatives qualifying as hedges

^[1]

2.6

(1.3)

(0.2)

(7.7)

Tax effects on foreign currency translation adjustments

(30.5)

8.1

(25.8)

(62.5)

Tax effect on pension and postretirement benefits

(13.6)

0.0

(13.6)

(10.3)

Tax effect on pension and postretirement benefits reclassified to earnings

$ 4.7

$ 3.7

$ 7.3

$ 20.7

[1]	Amounts reclassified from other comprehensive income into earnings in 2009 and 2008 were not material. See Note 5.

Consolidated Statements of Cash Flows - USD ($)
$ in Millions

9 Months Ended

Jun. 30, 2009

Jun. 30, 2008

OPERATING ACTIVITIES

Net income

$ 387.4

$ 648.1

Adjustments to reconcile income to cash provided by operating activities:

Depreciation and amortization

614.8

647.8

Impairment of assets of continuing operations

67.7

0.0

Impairment of assets of discontinued operations

48.7

314.8

Loss (gain) on sale of discontinued operations

0.6

(119.5)

Deferred income taxes

(41.6)

(69.6)

Customer bankruptcy

22.2

0.0

Undistributed earnings of unconsolidated affiliates

(45.5)

(59.6)

Loss (gain) on sale of assets and investments

7.0

(0.4)

Share-based compensation

45.1

47.1

Noncurrent capital lease receivables

(74.9)

(160.5)

Other adjustments

(38.5)

82.7

Working capital changes that provided (used) cash, excluding effects of acquisitions and divestitures:

Trade receivables

160.0

(195.9)

Inventories

(10.8)

(39.5)

Contracts in progress

29.8

84.8

Other receivables

16.1

(3.7)

Payables and accrued liabilities

(313.2)

(20.7)

Other working capital

(17.7)

(26.4)

CASH PROVIDED BY OPERATING ACTIVITIES

^[1]

857.2

1,129.5

INVESTING ACTIVITIES

Additions to plant and equipment

(899.3)

(791.4)

Acquisitions, less cash acquired

(29.8)

(2.0)

Investment in and advances to unconsolidated affiliates

(1.1)

(1.8)

Proceeds from sale of assets and investments

30.1

18.4

Proceeds from sale of discontinued operations

39.0

419.5

Change in restricted cash

82.2

(135.6)

Other investing activities

0.0

(17.8)

CASH USED FOR INVESTING ACTIVITIES

(778.9)

(510.7)

FINANCING ACTIVITIES

Long-term debt proceeds

120.9

479.8

Payments on long-term debt

(70.0)

(96.7)

Net increase (decrease) in commercial paper and short-term borrowings

99.2

(236.0)

Dividends paid to shareholders

(278.8)

(256.1)

Purchase of treasury stock

0.0

(560.2)

Proceeds from stock option exercises

14.9

80.9

Excess tax benefit from share-based compensation/other

4.1

50.1

CASH USED FOR FINANCING ACTIVITIES

(109.7)

(538.2)

Effect of Exchange Rate Changes on Cash

(1.8)

5.1

(Decrease) Increase in Cash and Cash Items

(33.2)

85.7

Cash and Cash Items - Beginning of Year

103.5

40.5

Cash and Cash Items - End of Period

$ 70.3

$ 126.2

[1]	Pension plan contributions in 2009 and 2008 were $169.5 and $123.0, respectively.

- Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions	9 Months Ended
	Jun. 30, 2009	Jun. 30, 2008
Statement [Line Items]
Pension plan contributions	$ 169.5	$ 123.0

Major Accounting Policies	9 Months Ended
Major Accounting Policies	Jun. 30, 2009
Major Accounting Policies [Abstract]
Major Accounting Policies	1. MAJOR ACCOUNTING POLICIES Refer to the Company’s 2008 annual report on Form 10-K for a description of major accounting policies. There have been no material changes to these accounting policies during the first nine months of 2009 other than those detailed in Note 2. Basis of Presentation The consolidated financial statements of Air Products and Chemicals, Inc. and its subsidiaries (the “Company” or “registrant”) included herein have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. In the opinion of the Company, the accompanying statements reflect adjustments necessary to present fairly the financial position, results of operations, and cash flows for those periods indicated, and contain adequate disclosure to make the information presented not misleading. Adjustments included herein are of a normal, recurring nature unless otherwise disclosed in the Notes. However, the interim results for the periods indicated herein do not reflect certain adjustments, such as the valuation of inventories on the LIFO cost basis, which can only be finally determined on an annual basis. The consolidated financial statements and related Notes included herein should be read in conjunction with the financial statements and Notes thereto included in the Company’s latest annual report on Form 10-K in order to fully understand the basis of presentation. Results of operations for interim periods are not necessarily indicative of the results of operations for a full year.

New Accounting Standards	9 Months Ended
New Accounting Standards	Jun. 30, 2009
New Accounting Standards [Abstract]
New Accounting Standards	2. NEW ACCOUNTING STANDARDS *Standards Implemented* Disclosures about Subsequent Events In May 2009, the Financial Accounting Standards Board (FASB) issued Statement of Financial Accounting Standard (SFAS) No. 165, “Subsequent Events.” SFAS No. 165 establishes the standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued. This Statement also requires the disclosure of the date through which subsequent events have been evaluated. The Company adopted this standard, as required, for the period ended 30 June 2009. Adoption of SFAS No. 165 did not have a material impact on the Company’s consolidated financial statements. Refer to Note 14, Supplemental Information, for the required disclosure. Fair Value Disclosures Effective 1 April 2009, the Company adopted FASB Staff Position (FSP) FAS 107-1 and APB 28-1, “Interim Disclosures about Fair Value of Financial Instruments.” This FSP extends the disclosure requirements under SFAS No. 107, “Disclosures about Fair Value of Financial Instruments,” to interim financial statements. It also amends APB Opinion No. 28, “Interim Financial Reporting,” to require those disclosures in summarized financial information at interim reporting periods. This FSP only requires additional disclosure and did not have an impact on the Company’s consolidated financial statements. Refer to Note 6, Fair Value Measurements, for the required disclosures. Disclosures about Derivatives and Hedging Effective 1 January 2009, the Company adopted SFAS No. 161, “Disclosures about Derivative Instruments and Hedging Activities — an amendment of FASB Statement No. 133.” SFAS No. 161 requires enhanced disclosures about how and why an entity uses derivative instruments; how derivative instruments and related hedged items are accounted for; and how they affect an entity’s financial position, financial performance, and cash flows. This Statement only requires additional disclosure and did not have an impact on the Company’s consolidated financial statements upon adoption. Refer to Note 5, Financial Instruments, for the required disclosures. Fair Value Option In February 2007, the FASB issued SFAS No. 159, “The Fair Value Option for Financial Assets and Financial Liabilities — Including an amendment of FASB Statement No. 115.” This Statement permits companies to elect to measure certain financial instruments at fair value on an instrument-by-instrument basis, with changes in fair value recognized in earnings each reporting period. In addition, SFAS No. 159 establishes financial statement presentation and disclosure requirements for assets and liabilities reported at fair value under the election. The Company adopted SFAS No. 159 as of 1 October 2008 and elected not to fair value any items under this Statement. Postretirement Benefits The Company adopted the measurement date change of SFAS No. 158, “Employers’ Accounting for Defined Benefit Pension and Other Postretirement Plans,” for its U.K. and Belgium pension plans as of 1 October 2008. SFAS No. 158 required the Company to change the measurement date for these plans from 30 June to 30 September (end of fiscal year). As a result of this change, pension expense and actuarial gains/losses for the three-month period ended 30 September 2008 were recognized as adjustments to the beginning balances of retained earnings and Accumulated Other Comprehensive Income (AOCI), respectively. The after-tax charge to retained earnings was $8.1. AOCI was credited $35.8 for net actuarial gains on an after-tax basis. These adjustments only affected the balance sheet. Fair Value Measurements Effective 1 October 2008, the Company adopted SFAS No. 157, “Fair Value Measurements,” for financial assets and liabilities and any other assets and liabilities that are recognized and disclosed at fair value on a recurring basis. This Statement defines fair value, establishes a method for measuring fair value, and requires additional disclosures about fair value measurements. FASB Staff Position No. 157-2 delayed the adoption of SFAS No. 157 for other nonfinancial assets and liabilities until 1 October 2009 for the Company. The adoption of SFAS No. 157 did not impact the Company’s financial statements for assets and liabilities measured at fair value on a recurring basis. Refer to Note 6, Fair Value Measurements, for the required disclosures. *New Standards to Be Implemented* The FASB Accounting Standards Codification In June 2009, the FASB issued SFAS No. 168, “The FASB Accounting Standards Codification^TM and the Hierarchy of Generally Accepted Accounting Principles — a replacement of FASB Statement No. 162” (Codification). The Codification does not change current U.S. GAAP but reorganizes all authoritative literature in one place. This Statement is effective for financial statements issued for interim and annual periods ending after 15 September 2009. Once effective, the Codification will supersede existing GAAP and become the source of authoritative accounting principles recognized by the FASB. This Statement only requires a change in disclosure and will not impact the Company’s consolidated financial statements. Consolidation of Variable Interest Entities In June 2009, the FASB issued SFAS No. 167, “Amendments to FASB Interpretation No. 46(R)” (SFAS No. 167). This Statement amends certain guidance in FIN 46(R) for determining whether an entity is a variable interest entity (VIE). SFAS No. 167 requires an enterprise to perform an analysis to determine whether the Company’s variable interests give it a controlling financial interest in a VIE. A company would be required to assess whether it has an implicit financial responsibility to ensure that a VIE operates as designed when determining whether it has the power to direct the activities of the VIE that most significantly impact the entity’s economic performance. In addition, this Statement amends FIN 46(R) to require ongoing reassessments of whether an enterprise is the primary beneficiary of a VIE. SFAS 167 is effective for the Company for fiscal year 2011. The Company is currently evaluating the impact of this Statement.

Global Cost Reduction Plan

9 Months Ended

Jun. 30, 2009

Global Cost Reduction Plan [Abstract]

Global Cost Reduction Plan

3. GLOBAL COST REDUCTION PLAN

Third Quarter 2009

During the third quarter ended 30 June 2009, due to the continuing slow economic recovery, the Company committed to additional actions associated with its global cost reduction plan which resulted in a charge to continuing operations of $124.0 ($84.2 after-tax, or $.39 per share).

This charge included $90.0 for severance and other benefits, including pension-related costs, associated with the elimination of approximately 1,150 positions of its global workforce. The reductions are targeted at continued cost reduction and productivity efforts, including the closure of certain manufacturing facilities. An impairment charge of $34.0 was recorded to write-down certain assets held for sale to net realizable value.

The planned actions associated with the third quarter charge are expected to be substantially completed by the end of the third quarter of fiscal year 2010.

First Quarter 2009

During the first quarter ended 31 December 2008, the Company announced a global cost reduction plan designed to lower its cost structure and better align its businesses to reflect rapidly declining economic conditions around the world. The results from continuing operations in the first quarter included a charge of $174.2 ($116.1 after-tax, or $.55 per share).

This charge included $120.0 for severance and pension-related costs, associated with eliminating approximately 1,400 positions from its global workforce. The reductions are targeted at reducing overhead and infrastructure costs, reducing and refocusing elements of the Company’s technology and business development spending, and lowering its plant operating costs. The remainder of this charge, $54.2, was for business exits and asset management actions. Assets held for sale were written down to net realizable value and an environmental liability of $16.0 was recognized. This environmental liability resulted from a decision to sell a production facility.

The planned actions associated with the first quarter 2009 charge are expected to be substantially completed by the end of the first quarter of fiscal year 2010.

Business Segments

The charges for the global cost reduction plan were excluded from segment operating profit. The tables below display how these charges related to the businesses at the segment level:


			Asset
	Severance and		Impairments/
Third Quarter 2009	Other Benefits		Other Costs		Total

Merchant Gases	$	43.0	$	.5	$	43.5
Tonnage Gases		3.1		—		3.1
Electronics and Performance Materials		8.9		11.7		20.6
Equipment and Energy		35.0		21.8		56.8

	$	90.0	$	34.0	$	124.0


			Asset
	Severance and		Impairment/
Nine Months Ended 30 June 2009	Other Benefits		Other Costs		Total

Merchant Gases	$	127.5	$	7.2	$	134.7
Tonnage Gases		14.2		—		14.2
Electronics and Performance Materials		30.6		58.9		89.5
Equipment and Energy		37.7		22.1		59.8

	$	210.0	$	88.2	$	298.2

Accrual Balance

The following table summarizes changes to the carrying amount of the accrual for the global cost reduction plan for the nine months ended 30 June 2009:


				Asset
	Severance and			Impairments/
	Other Benefits			Other Costs			Total

First quarter 2009 charge	$	120.0		$	54.2		$	174.2
Third quarter 2009 charge		90.0			34.0			124.0
Environmental charge (a)		—			(16.0	)		(16.0	)
Noncash expenses		(33.8	) (b)		(66.1	)		(99.9	)
Cash expenditures		(53.1	)		(.8	)		(53.9	)
Currency translation adjustment		1.4			—			1.4

Accrual Balance at 30 June 2009	$	124.5		$	5.3		$	129.8


(a)		Reflected in accrual for environmental obligations. See Note 12.

(b)		Primarily pension related costs which are reflected in the accrual for pension benefits.

Discontinued Operations

9 Months Ended

Jun. 30, 2009

Discontinued Operations [Abstract]

Discontinued Operations

4. DISCONTINUED OPERATIONS

The U.S. Healthcare business, Polymer Emulsions business, and the High Purity Process Chemicals (HPPC) business have been accounted for as discontinued operations. The results of operations of these businesses have been removed from the results of continuing operations for all periods presented.

For additional historical information on these discontinued operations, refer to the Company’s 2008 annual report on Form 10-K.

U.S. Healthcare

In July 2008, the Board of Directors authorized management to pursue the sale of the U.S. Healthcare business. In 2008, the Company recorded a total charge of $329.2 ($246.2 after-tax, or $1.12 per share) related to the impairment/write-down of the net carrying value of the U.S. Healthcare business.

In the first quarter of 2009, based on additional facts, the Company recorded an impairment charge of $48.7 ($30.9 after-tax, or $.15 per share) reflecting a revision in the estimated net realizable value of the U.S. Healthcare business. Also, a tax benefit of $8.8, or $.04 per share, was recorded to revise the estimated tax benefit related to previously recognized impairment charges.

As a result of events which occurred during the second quarter of 2009, which increased the Company’s ability to realize tax benefits associated with the impairment charges recorded in 2008, the Company recognized a one-time tax benefit of $16.7, or $.08 per share.

During the third quarter of 2009, the Company sold more than half of its remaining U.S. Healthcare business to OptionCare Enterprises, Inc., a subsidiary of Walgreen Co., and Landauer-Metropolitan, Inc. (LMI) for combined cash proceeds of $38.1. The Company recognized an after-tax gain of $.3 resulting from these sales combined with adjustments to the net realizable value of the remaining businesses. The Company expects to conclude the sale of the remaining portions of this business in 2009.

The operating results of the U.S. Healthcare business have been classified as discontinued operations and are summarized below:


	Three Months Ended						Nine Months Ended
	30 June						30 June
	2009			2008			2009			2008

Sales	$	25.2		$	58.3		$	117.3		$	187.1

Loss before taxes	$	(3.4	)	$	(326.2	)	$	(3.2	)	$	(345.4	)
Income tax benefit		(1.3	)		(82.0	)		(1.2	)		(89.3	)

Loss from operations of discontinued operations	$	(2.1	)	$	(244.2	)	$	(2.0	)	$	(256.1	)
Income (loss) on sale of businesses and impairment/write-down to estimated net realizable value, net of tax		.3			—			(4.8	)		—

Loss from discontinued operations, net of tax	$	(1.8	)	$	(244.2	)	$	(6.8	)	$	(256.1	)

Details of balance sheet items for the U.S. Healthcare business are summarized below:


	30 June 2009		30 September 2008

Trade receivables, less allowances	$	10.3	$	47.7
Inventories		1.8		7.2
Prepaid expenses		.5		1.4
Other receivables		2.9		.2

Total Current Assets	$	15.5	$	56.5


Plant and equipment, net	$	4.3	$	58.7
Other noncurrent assets		.1		—

Total Noncurrent Assets	$	4.4	$	58.7


Payables and accrued liabilities	$	18.7	$	6.8
Current portion long-term debt		.3		1.0

Total Current Liabilities	$	19.0	$	7.8


Long-term debt	$	.3	$	1.2

Total Noncurrent Liabilities	$	.3	$	1.2

Polymer Emulsions Business

On 31 January 2008, the Company completed the sale of its interest in its vinyl acetate ethylene polymers joint ventures to Wacker Chemie AG (Wacker), its long-time joint venture partner. The Company recognized a gain on the sale of $89.5 ($57.7 after-tax).

On 30 June 2008, the Company sold its Elkton, Md. and Piedmont, S.C. production facilities and the related North American atmospheric emulsions and global pressure sensitive adhesives businesses to Ashland Inc. The Company recorded a gain of $30.5 ($18.5 after-tax) in connection with the sale, which included the recording of a retained environmental obligation associated with the Piedmont site. The sale of the Elkton and Piedmont facilities completed the disposal of the Company’s Polymer Emulsions business.

The operating results of the Polymer Emulsions business have been classified as discontinued operations and are summarized below:


	Three Months Ended				Nine Months Ended
	30 June				30 June
	2009		2008		2009		2008

Sales	$	—	$	31.4	$	—	$	261.4

Income before taxes	$	—	$	1.9	$	—	$	17.5
Income tax provision		—		.8		—		6.3

Income from operations of discontinued operations	$	—	$	1.1	$	—	$	11.2
Gain on sale of business, net of tax		.4		18.5		.4		76.2

Income from discontinued operations, net of tax	$	.4	$	19.6	$	.4	$	87.4

HPPC Business

In the first quarter of 2008, the HPPC business generated sales of $22.9 and income from operations, net of tax, of $.2. The Company closed on the sale of its HPPC business on 31 December 2007.

Financial Instruments

9 Months Ended

Jun. 30, 2009

Financial Instruments [Abstract]

Financial Instruments

5. FINANCIAL INSTRUMENTS

Currency Price Risk Management

The Company’s earnings, cash flows, and financial position are exposed to foreign currency risk from foreign currency denominated transactions and net investments in foreign operations. It is the policy of the Company to minimize its cash flow exposure to adverse changes in currency and exchange rates. This is accomplished by identifying and evaluating the risk that the Company’s cash flows will decline in value due to changes in exchange rates, and by determining the appropriate strategies necessary to manage such exposures. The Company’s objective is to maintain economically balanced currency risk management strategies that provide adequate downside protection.

Forward Exchange Contracts

The Company enters into forward exchange contracts to reduce the cash flow exposure to foreign currency fluctuations associated with highly anticipated cash flows and certain firm commitments such as the purchase of plant and equipment. Forward exchange contracts are also used to hedge the value of investments in certain foreign subsidiaries and affiliates by creating a liability in a currency in which the Company has a net equity position.

The Company recognizes these derivatives on the balance sheet at fair value. On the date the derivative instrument is entered into, the Company generally designates the derivative as either (1) a hedge of a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability (cash flow hedge), (2) a hedge of a net investment in a foreign operation (net investment hedge), or (3) a hedge of the fair value of a recognized asset or liability or of an unrecognized firm commitment (fair value hedge).

In addition to the foreign exchange contracts that are designated as hedges under SFAS No. 133, “Accounting for Derivative Instruments and Hedging Activities” (SFAS No. 133), the Company also hedges foreign currency exposures utilizing forward exchange contracts that are not designated as hedges under SFAS No. 133. These contracts are used to hedge foreign currency-denominated monetary assets and liabilities, primarily intercompany loans and working capital. The primary objective of these forward contracts is to protect the value of foreign currency-denominated monetary assets and liabilities from the effects of volatility in foreign exchange rates that might occur prior to their receipt or settlement.

Option Contracts

The Company enters into option contracts to reduce the cash flow exposure to foreign currency fluctuations associated with highly anticipated export sales transactions. The Company recognizes these derivatives on the balance sheet at fair value. On the date the derivative instrument is entered into, the Company designates these derivatives as cash flow hedges.

The table below summarizes the Company’s outstanding currency price risk management instruments as of 30 June 2009 and 30 September 2008:


	30 June 2009				30 September 2008
	US$		Years Average		US$		Years Average
	Notional		Maturity		Notional		Maturity

Forward exchange contracts:
Cash flow hedges	$	666.4		.6	$	824.5		.6
Net investment hedges		882.0		3.5		749.5		4.0
Fair value hedges		3.7		.2		10.3		.3
Hedges not designated under SFAS No. 133		1,423.0		.4		1,282.8		.3

Total forward exchange contracts	$	2,975.1		1.3	$	2,867.1		1.4


Options:
Cash flow hedges	$	23.1		.2	$	26.0		.3

Total options	$	23.1		.2	$	26.0		.3

In addition to the above, the Company uses foreign currency denominated debt to hedge the foreign currency exposures of the Company’s net investment in certain foreign affiliates. The foreign currency denominated debt includes €1,013.0 as of 30 June 2009 and €1,450.0 as of 30 September 2008.

Debt Portfolio Management

It is the policy of the Company to identify on a continuing basis the need for debt capital and evaluate the financial risks inherent in funding the Company with debt capital. Reflecting the result of this ongoing review, the debt portfolio and hedging program of the Company are managed with the objectives and intent to (1) reduce funding risk with respect to borrowings made by the Company to preserve the Company’s access to debt capital and provide debt capital as required for funding and liquidity purposes, and (2) manage the aggregate interest rate risk and the debt portfolio in accordance with certain debt management parameters.

Interest Rate Swap Contracts

The Company enters into interest rate swap contracts to change the fixed/variable interest rate mix of its debt portfolio in order to maintain the percentage of fixed- and variable-rate debt within the parameters set by management. In accordance with these parameters, the agreements are used to optimize interest rate risks and costs inherent in the Company’s debt portfolio. In addition, the Company also uses interest rate swap agreements to hedge the interest rate on anticipated fixed-rate debt issuance. The notional amount of the interest rate swap agreements are equal to or less than the designated debt instrument being hedged. When variable-rate debt is hedged, the variable-rate indices of the swap instruments and the debt to which they are designated are the same. It is the Company’s policy not to enter into any interest rate swap contracts which lever a move in interest rates on a greater than one-to-one basis.

Cross Currency Interest Rate Swap Contracts

The Company also enters into cross currency interest rate swap contracts. These contracts may entail both the exchange of fixed- and floating-rate interest payments periodically over the life of the agreement and the exchange of one currency for another currency at inception and at a specified future date. These contracts effectively convert the currency denomination of a debt instrument into another currency in which the Company has a net equity position while changing the interest rate characteristics of the instrument. The contracts are used to hedge intercompany and third-party borrowing transactions and certain net investments in foreign operations.

The following table summarizes the interest rate swaps and cross currency interest rate swaps outstanding as of 30 June 2009 and 30 September 2008:


	30 June 2009								30 September 2008
	US$					Average			US$					Average
	Notional		Pay %			Receive %			Notional		Pay %			Receive %

Interest rate swaps (fair value hedge)	$	321.2	6 month LIBOR				4.49	%	$	321.9	6 month LIBOR				4.49	%
Interest rate swaps (cash flow hedge)	$	100.0		3.73	%	3 month LIBOR				—		—			—
Cross currency interest rate swaps (net investment hedge)	$	32.2		5.54	%		5.48	%	$	40.3		5.55	%		3.89	%

Commodity Price Risk Management

The Company has entered into a limited number of commodity swap contracts in order to reduce the cash flow exposure to changes in the price of natural gas relative to certain oil-based feedstocks. The Company has also entered into contracts hedging the cash flow exposure of changes in the market price of certain metals which are raw materials used in the fabrication of certain industrial gas equipment with the overall intent of locking in, or minimizing its exposure to these base metals. As of 30 June 2009, there were no outstanding contracts hedging the changes in the market price of metals.

The table below summarizes the Company’s outstanding commodity contracts as of 30 June 2009 and 30 September 2008:


	30 June 2009				30 September 2008
			Years Average				Years Average
	US$ Notional		Maturity		US$ Notional		Maturity

Energy	$	33.0		.5	$	72.6		.8
Metals		—		—		4.2		.2

Total commodity contracts	$	33.0		.5	$	76.8		.8

The table below summarizes the fair value and balance sheet location of the Company’s outstanding derivatives at 30 June 2009 and 30 September 2008:


		30 June		30 September			30 June		30 September
		2009		2008			2009		2008
	Balance Sheet					Balance Sheet
	Location	Fair Value		Fair Value		Location	Fair Value		Fair Value

Derivatives designated as hedging instruments:
Foreign exchange contracts	Other Receivables	$	26.7	$	25.1	Accrued Liabilities	$	27.3	$	24.4
Interest rate swap contracts	Other Receivables		.1		1.2	Accrued Liabilities		—		—
Commodity swap contracts	Other Receivables		8.7		5.9	Accrued Liabilities		4.9		2.5
Foreign exchange contracts	Other Noncurrent Assets		16.2		19.6	Other Noncurrent Liabilities		35.9		29.8
Interest rate swap contracts	Other Noncurrent Assets		18.7		4.4	Other Noncurrent Liabilities		4.2		3.5
Commodity swap contracts	Other Noncurrent Assets		—		1.8	Other Noncurrent Liabilities		—		.4

Total derivatives designated as hedging instruments		$	70.4	$	58.0		$	72.3	$	60.6

Derivatives not designated as hedging instruments:
Foreign exchange contracts	Other Receivables	$	17.4	$	10.2	Accrued Liabilities	$	29.7	$	55.0

Total Derivatives		$	87.8	$	68.2		$	102.0	$	115.6

Refer to Note 6 for SFAS No. 157, Fair Value Measurements, which defines fair value, establishes a method for measuring fair value, provides additional disclosures regarding fair value measurements, and discusses the Company’s counterparty risk.

The following details summarize the accounting treatment of the Company’s cash flow, fair value, net investment, and non-designated hedges:

	•		Changes in the fair value of a derivative that is designated as and meets all the required criteria for a cash flow hedge are recorded in accumulated Other Comprehensive Income (OCI) and then recognized in earnings when the hedged items affect earnings.

	•		Changes in the fair value of a derivative that is designated as and meets all the required criteria for a fair value hedge, along with the gain or loss on the hedged asset or liability that is attributable to the hedged risk, are recorded in current period earnings.

	•		Changes in the fair value of a derivative and foreign currency debt that are designated as and meet all the required criteria for a hedge of a net investment are recorded as translation adjustments in accumulated OCI.

	•		Changes in the fair value of a derivative that is not designated as a hedge are recorded immediately in earnings.

The tables below summarize the information related to our cash flow, net investment, and non-designated hedges during the three and nine month periods ended 30 June 2009 and 30 June 2008. The outstanding fair value hedges for these time periods are not material.


	Three Months Ended 30 June 2009 and 2008
	Forward
	exchange						Foreign currency
	contracts						debt					Other (b)						Total
Cash Flow Hedges:	2009			2008			2009		2008			2009			2008			2009			2008

Net (gain) loss recognized in OCI (effective portion)	$	(2.9	)	$	2.9		$	—	$	—		$	(5.2	)	$	.3		$	(8.1	)	$	3.2
Net gain (loss) reclassified from OCI to sales/cost of sales (effective portion)		1.3			.3			—		—			1.2			(.5	)		2.5			(.2	)
Net gain (loss) from OCI to other (income) expense (ineffective portion)		.2			—			—		—			—			—			.2			—

Net Investment Hedges:
Net (gain) loss recognized in OCI	$	29.8		$	(3.6	)	$	65.0	$	(9.0	)	$	3.0		$	.1		$	97.8		$	(12.5	)

Non-designated Hedges:
Net (gain) loss recognized in other (income) expense (a)	$	.5		$	30.8		$	—	$	—		$	—		$	—		$	.5		$	30.8


	Nine Months Ended 30 June 2009 and 2008
	Forward
	exchange					Foreign currency
	contracts					debt					Other (b)						Total
Cash Flow Hedges:	2009			2008		2009			2008		2009			2008			2009			2008

Net (gain) loss recognized in OCI (effective portion)	$	4.2		$	9.7	$	—		$	—	$	(5.4	)	$	3.1		$	(1.2	)	$	12.8
Net gain (loss) reclassified from OCI to sales/cost of sales (effective portion)		(2.2	)		3.0		—			—		3.6			(1.6	)		1.4			1.4
Net gain (loss) from OCI to other (income) expense (ineffective portion)		.1			—		—			—		—			—			.1			—

Net Investment Hedges:
Net (gain) loss recognized in OCI	$	8.5		$	20.3	$	(9.3	)	$	145.5	$	(1.7	)	$	(1.1	)	$	(2.5	)	$	164.7

Non-designated Hedges:
Net (gain) loss recognized in other (income) expense (a)	$	9.9		$	22.6	$	—		$	—	$	—		$	—		$	9.9		$	22.6


(a)		The impact of the non-designated hedges noted above was largely offset by gains and losses, respectively, resulting from the impact of changes in exchange rates on recognized assets and liabilities denominated in non-functional currencies.

(b)		Other includes the impact on OCI and earnings related to commodity swap contracts, interest rate swaps, and currency option contracts.

Credit Risk-Related Contingent Features

Certain derivative instruments are executed under agreements that require the Company to maintain a credit rating of at least A- from Standard & Poor’s and A3 from Moody’s. If the Company’s credit rating falls below these levels, the counterparty to the derivative instruments has the right to request full collateralization on the derivatives’ net liability position. The net liability position of derivatives with credit risk-related contingent features was $19.0 and $21.5 as of 30 June 2009 and 30 September 2008, respectively. Because of the Company’s current credit rating of A from Standard & Poor’s and A2 from Moody’s, no collateral has been posted on these liability positions.

Counterparty Credit Risk Management

The Company executes all derivative transactions with counterparties that are highly rated financial institutions, and all of which are investment grade at this time. Some of the Company’s underlying derivative agreements give the Company the right to require the institution to post collateral if its credit rating falls below A- from Standard & Poor’s or A3 from Moody’s. These are the same agreements referenced in Credit Risk-Related Contingent Features above. The collateral that the counterparties would be required to post is $26.9 as of 30 June 2009 and $14.1 as of 30 September 2008. No financial institution is required to post collateral at this time, as all have credit ratings at or above the threshold.

Fair Value Measurements

9 Months Ended

Jun. 30, 2009

Fair Value Measurements [Abstract]

Fair Value Measurements

6. FAIR VALUE MEASUREMENTS

The carrying values and fair values of financial instruments were as follows:


	30 June 2009				30 September 2008
	Carrying Value		Fair Value		Carrying Value		Fair Value

Assets
Derivatives (a)
Foreign exchange contracts	$	60.3	$	60.3	$	54.9	$	54.9
Interest rate swap contracts		18.8		18.8		5.6		5.6
Commodity swap contracts		8.7		8.7		7.7		7.7
Other investments (b)		18.5		18.5		31.9		31.9


Liabilities
Derivatives (a)
Foreign exchange contracts	$	92.9	$	92.9	$	109.2	$	109.2
Interest rate swap contracts		4.2		4.2		3.5		3.5
Commodity swap contracts		4.9		4.9		2.9		2.9
Long-term debt, including current portion (c)		3,759.6		3,901.9		3,547.5		3,581.5

The methods and assumptions used to measure the fair value of financial instruments are as follows:

	(a)		Derivatives

			The fair value of the Company’s interest rate swap agreements and foreign exchange contracts are based on estimates using standard pricing models that take into account the present value of future cash flows as of the balance sheet date. The computation of the fair values of these instruments is generally performed by the Company. These standard pricing models utilize inputs which are derived from or corroborated by observable market data such as interest rate yield curves and currency spot and forward rates. In addition, on an ongoing basis, the Company randomly tests a subset of its valuations against valuations received from the counterparty to the transaction to validate the accuracy of its standard pricing models. The fair value of commodity swaps is based on current market price as provided by the financial institutions with which the commodity swaps have been executed. Counterparties to these derivative contracts are highly rated financial institutions none of which experienced significant downgrades since 30 September 2008 that could reduce the receivable amount collectible.

	(b)		Other investments

			The fair value of other investments in publicly traded companies is based on quoted market prices from the New York and Tokyo Stock Exchanges. The fair value of other investments is reported within other noncurrent assets on the balance sheet.

	(c)		Long-term debt

			The fair value of the Company’s debt is based on estimates using standard pricing models that take into account the present value of future cash flows as of the balance sheet date. The computation of the fair value of these instruments is generally performed by the Company.

The carrying amounts reported in the balance sheet for cash and cash items, trade receivables, payables and accrued liabilities, accrued income taxes, and short-term borrowings approximate fair value due to the short term nature of these instruments. Accordingly, these items have been excluded from the above table.

As discussed in Note 2 on New Accounting Standards, the Company adopted SFAS No. 157 as of 1 October 2008, with the exception of the application of the Statement to nonrecurring nonfinancial assets and nonfinancial liabilities, for which adoption has been delayed until 1 October 2009.

SFAS No. 157 defines fair value as an exit price (i.e., the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date). SFAS No. 157 establishes a three-level fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value.

	•		Level 1 — Quoted prices (unadjusted) in active markets for identical assets or liabilities.

	•		Level 2 — Inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the asset or liability.

	•		Level 3 — Inputs that are unobservable for the asset or liability based on the Company’s own assumptions (about the assumptions market participants would use in pricing the asset or liability).

The following table summarizes assets and liabilities measured at fair value on a recurring basis in the consolidated balance sheet:


30 June 2009	Total		Level 1		Level 2		Level 3

Assets at Fair Value
Derivatives (a)
Foreign exchange contracts	$	60.3	$	—	$	60.3	$	—
Interest rate swap contracts		18.8		—		18.8		—
Commodity swap contracts		8.7		—		8.7		—
Other investments (b)		18.5		18.5		—		—

Total Assets at Fair Value	$	106.3	$	18.5	$	87.8	$	—


Liabilities at Fair Value
Derivatives (a)
Forward exchange contracts	$	92.9	$	—	$	92.9	$	—
Interest rate swap contracts		4.2		—		4.2		—
Commodity swap contracts		4.9		—		4.9		—

Total Liabilities at Fair Value	$	102.0	$	—	$	102.0	$	—

Refer to Note 1 in the Company’s 2008 annual report on Form 10-K and Note 5 in this quarterly filing for additional information on the Company’s accounting and reporting of the fair value of financial instruments.

Inventories

9 Months Ended

Jun. 30, 2009

Inventories [Abstract]

Inventories

7. INVENTORIES

The components of inventories are as follows:


	30 June			30 September
	2009			2008

Inventories at FIFO Cost
Finished goods	$	389.7		$	365.1
Work in process		21.8			22.4
Raw materials and supplies		162.9			183.5

		574.4			571.0
Less: excess of FIFO cost over LIFO cost		(78.6	)		(67.3	)

	$	495.8		$	503.7

FIFO cost approximates replacement cost. The Company’s inventories have a high turnover, and as a result, there is little difference between the original cost of an item and its current replacement cost.

9 Months Ended

Jun. 30, 2009

Goodwill [Abstract]

Goodwill

8. GOODWILL

Changes to the carrying amount of consolidated goodwill by segment for the nine months ended 30 June 2009 are as follows:


			Acquisition		Currency
	30 September		and		Translation			30 June
	2008		Adjustments		and Other			2009

Merchant Gases	$	626.5	$	.2	$	(57.6	)	$	569.1
Tonnage Gases		18.0		—		(3.1	)		14.9
Electronics and Performance Materials		283.6		9.5		(4.4	)		288.7

	$	928.1	$	9.7	$	(65.1	)	$	872.7

Goodwill is subject to impairment testing at least annually. In addition, goodwill is tested more frequently if a change in circumstances or the occurrence of events indicates that potential impairment exists.

Share Based Compensation	9 Months Ended
Share Based Compensation	Jun. 30, 2009
Share-based Compensation [Abstract]
Share-based Compensation	9. SHARE-BASED COMPENSATION The Company has various share-based compensation programs, which include stock options, deferred stock units, and restricted shares. During the nine months ended 30 June 2009, the Company granted 2.0 million stock options at a weighted-average exercise price of $66.90 and an estimated fair value of $20.86 per option. The fair value of these options was estimated using a lattice-based option valuation model that used the following assumptions: expected volatility of 31.2%; expected dividend yield of 2.1%; expected life in years of 6.7-8.0; and a risk-free interest rate of 3.5%-3.9%. In addition, the Company granted 403,470 deferred stock units at a weighted-average grant-date fair value of $52.21 and 40,092 restricted shares at a weighted-average grant-date fair value of $64.01. Refer to Note 15 in the Company’s 2008 annual report on Form 10-K for information on the valuation and accounting for these programs. Share-based compensation cost charged against income in the three months ended 30 June 2009 was $15.0 ($9.2 after-tax). Of the share-based compensation cost recognized, $10.7 was a component of selling and administrative expense, $1.9 a component of cost of sales, $1.3 a component of research and development, and $1.1 a component of the global cost reduction plan. Share-based compensation cost charged against income in the three months ended 30 June 2008 was $14.1 ($8.7 after-tax). Share-based compensation cost charged against income in the nine months ended 30 June 2009 was $45.1 ($27.7 after-tax). Of the share-based compensation cost recognized, $33.4 was a component of selling and administrative expense, $6.2 a component of cost of sales, $4.0 a component of research and development, and $1.5 a component of the global cost reduction plan. Share-based compensation cost charged against income in the nine months ended 30 June 2008 was $47.1 ($29.0 after-tax). The amount of share-based compensation cost capitalized in 2009 and 2008 was not material.

Earnings Per Share

9 Months Ended

Jun. 30, 2009

Earnings Per Share [Abstract]

Earnings Per Share

10. EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per share (EPS):


	Three Months Ended						Nine Months Ended
	30 June						30 June
	2009			2008			2009			2008

NUMERATOR
Used in basic and diluted EPS
Income from continuing operations	$	114.6		$	295.0		$	393.9		$	817.1
Loss from discontinued operations		(1.4	)		(224.9	)		(6.5	)		(169.0	)

Net Income	$	113.2		$	70.1		$	387.4		$	648.1

DENOMINATOR (in millions)
Weighted average number of common shares used in basic EPS		209.8			211.2			209.6			212.8
Effect of dilutive securities
Employee stock options		3.1			6.0			2.2			6.0
Other award plans		1.1			1.0			1.0			1.1

		4.2			7.0			3.2			7.1

Weighted average number of common shares and dilutive potential common shares used in diluted EPS		214.0			218.2			212.8			219.9

BASIC EPS
Income from continuing operations	$	.55		$	1.40		$	1.88		$	3.84
Loss from discontinued operations		(.01	)		(1.07	)		(.03	)		(.79	)

Net Income	$	.54		$	.33		$	1.85		$	3.05

DILUTED EPS
Income from continuing operations	$	.54		$	1.35		$	1.85		$	3.72
Loss from discontinued operations		(.01	)		(1.03	)		(.03	)		(.77	)

Net Income	$	.53		$	.32		$	1.82		$	2.95

Options on 4.6 million and 7.3 million shares were antidilutive and therefore excluded from the computation of diluted earnings per share for the three and nine months ended 30 June 2009, respectively. Options on 1.2 million shares were antidilutive and therefore excluded from the computation for the three and nine months ended 30 June 2008.

Retirement Benefits

9 Months Ended

Jun. 30, 2009

Retirement Benefits [Abstract]

Retirement Benefits

11. RETIREMENT BENEFITS

The components of net pension cost for the defined benefit pension plans and other postretirement benefit cost were as follows:


	Three Months Ended 30 June
	2009			2008			2009			2008
	Pension Benefits						Other Benefits

Service cost	$	15.2		$	19.4		$	.8		$	1.4
Interest cost		46.2			45.3			1.7			1.4
Expected return on plan assets		(50.5	)		(51.8	)		—			—
Prior service cost (credit) amortization		1.0			.8			(.3	)		(.3	)
Actuarial loss amortization		3.8			9.2			(.1	)		.5
Settlement and curtailment charges		11.8			1.0			—			—
Special termination benefits		14.4			.2			—			—
Other		.4			.9			—			—

Net periodic benefit cost	$	42.3		$	25.0		$	2.1		$	3.0


	Nine Months Ended 30 June
	2009			2008			2009			2008
	Pension Benefits						Other Benefits

Service cost	$	45.0		$	58.6		$	3.1		$	4.4
Interest cost		137.2			136.5			4.8			4.3
Expected return on plan assets		(149.1	)		(155.9	)		—			—
Prior service cost (credit) amortization		3.0			2.4			(1.0	)		(1.0	)
Actuarial loss amortization		11.2			28.9			.2			1.3
Settlement and curtailment charges		11.8			28.7			—			—
Special termination benefits		29.2			.7			—			—
Other		1.2			1.9			—			—

Net periodic benefit cost	$	89.5		$	101.8		$	7.1		$	9.0

Special termination benefits for the three and nine months ended 30 June 2009 included $14.4 and $28.8 for the global cost reduction plan, respectively. The global cost reduction charge for the third quarter of 2009 also included $3.8 for curtailment losses related to the U.K. pension plans.

For the nine months ended 30 June 2009, pension contributions of $169.5 were made. Total contributions for 2009 are expected to be approximately $185. For the nine months ended 30 June 2008, pension contributions of $123.0 were made. During 2008, total contributions were $234.0.

The Company’s supplemental pension plan provides for a lump sum benefit payment option at the time of retirement, or for corporate officers six months after the participant’s retirement date. The Company recognizes pension settlements when payments exceed the sum of service and interest cost components of net periodic pension cost of the plan for the fiscal year. A settlement loss is recognized when the pension obligation is settled. Based on the timing of when cash payments were made, the Company recognized an $8.0 ($5.0 after-tax, or $.02 per share) charge in the third quarter of 2009. An additional $2 to $3 for settlement losses is expected to be recognized in the fourth quarter of 2009. For the three and nine months ended 30 June 2008, the Company recognized $1.0 and $28.7 ($17.9 after-tax, or $.08 per share) of settlement charges, respectively.

Commitments And Contingencies	9 Months Ended
Commitments And Contingencies	Jun. 30, 2009
Commitments And Contingencies [Abstract]
Commitments And Contingencies	12. COMMITMENTS AND CONTINGENCIES Litigation The Company is involved in various legal proceedings, including competition, environmental, health, safety, product liability, and insurance matters. In the third quarter of 2008, a unit of the Brazilian Ministry of Justice issued a report (previously issued in January 2007, and then withdrawn) on its investigation of the Company’s Brazilian subsidiary, Air Products Brazil Ltda., and several other Brazilian industrial gas companies. The report recommended that the Brazilian Administrative Council for Economic Defense impose sanctions on Air Products Brazil Ltda. and the other industrial gas companies for alleged anticompetitive activities. The Company intends to defend this action and cannot, at this time, reasonably predict the ultimate outcome of the proceedings or sanctions, if any, that will be imposed. While the Company does not expect that any sums it may have to pay in connection with this or any other legal proceeding would have a materially adverse effect on its consolidated financial position or net cash flows, a future charge for regulatory fines or damage awards could have a significant impact on the Company’s net income in the period in which it is recorded. Environmental Accruals for environmental loss contingencies are recorded when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. The consolidated balance sheet at 30 June 2009 and 30 September 2008 included an accrual of $95.5 and $82.9, respectively, primarily as part of other noncurrent liabilities. The environmental liabilities will be paid over a period of up to 30 years. The Company estimates the exposure for environmental loss contingencies to range from $95 to a reasonably possible upper exposure of $109 as of 30 June 2009. During the first quarter of 2009, the Company recognized a $16.0 environmental liability associated with a production facility. The Company is required by state law to investigate and remediate a site upon its sale. In the first quarter of 2009, management committed to a plan to sell this facility. The Company estimates that it will take at least several years to complete the remediation efforts at this site. Refer to Note 19 to the Consolidated Financial Statements in the Company’s 2008 annual report on Form 10-K for information on the Company’s environmental accruals related to the Pace, Florida and Piedmont, S.C. facilities. At 30 June 2009, the accrual balances associated with the Pace, Florida and Piedmont, S.C. facilities totaled $38.5 and $22.5, respectively.

- Business Segment And Geographic Information

9 Months Ended

Jun. 30, 2009

Business Segment And Geographic Information [Abstract]

Business Segment And Geographic Information

13. BUSINESS SEGMENT AND GEOGRAPHIC INFORMATION

The Company’s segments are organized based on differences in product and/or type of customer. The Company has four business segments consisting of Merchant Gases, Tonnage Gases, Electronics and Performance Materials, and Equipment and Energy.

Business Segment Information


	Three Months Ended						Nine Months Ended
	30 June						30 June
	2009			2008			2009			2008

Revenues from External Customers
Merchant Gases	$	882.6		$	1,087.3		$	2,678.2		$	3,097.7
Tonnage Gases		565.0			975.8			1,933.6			2,634.1
Electronics and Performance Materials		409.2			579.7			1,148.0			1,656.1
Equipment and Energy		119.4			106.9			367.1			311.9

Segment and Consolidated Totals	$	1,976.2		$	2,749.7		$	6,126.9		$	7,699.8


Operating Income
Merchant Gases	$	168.8		$	204.3		$	495.5		$	593.3
Tonnage Gases		87.6			125.5			294.4			347.7
Electronics and Performance Materials		39.0			70.4			52.5			204.0
Equipment and Energy		13.1			4.0			36.4			23.3

Segment Totals	$	308.5		$	404.2		$	878.8		$	1,168.3
Global cost reduction plan (a)		(124.0	)		—			(298.2	)		—
Customer bankruptcy and asset actions		(32.1	)		—			(32.1	)		—
Pension settlement		(8.0	)		(1.0	)		(8.0	)		(28.7	)
Other		(.6	)		(9.5	)		(22.2	)		(16.9	)

Consolidated Totals	$	143.8		$	393.7		$	518.3		$	1,122.7


	30 June		30 September
	2009		2008

Identifiable Assets (b)
Merchant Gases	$	4,729.6	$	4,881.6
Tonnage Gases		3,398.0		3,335.4
Electronics and Performance Materials		2,205.2		2,341.0
Equipment and Energy		304.6		300.2

Segment Totals		10,637.4		10,858.2
Other		765.6		775.2
Discontinued operations		19.9		115.3

Consolidated Totals	$	11,422.9	$	11,748.7


(a)		Information about this charge at the segment level is discussed in Note 3.

(b)		Identifiable assets are equal to total assets less investments in and advances to equity affiliates.

Geographic Information


	Three Months Ended				Nine Months Ended
	30 June				30 June
	2009		2008		2009		2008

Revenues from External Customers
North America	$	929.1	$	1,366.7	$	3,018.4	$	3,744.9
Europe		663.3		895.7		2,042.9		2,559.8
Asia		336.0		430.1		931.7		1,237.5
Latin America		47.8		57.2		133.9		157.6

Total	$	1,976.2	$	2,749.7	$	6,126.9	$	7,699.8

Geographic information is based on country of origin. The Europe segment operates principally in Belgium, France, Germany, the Netherlands, Poland, the U.K. and Spain. The Asia segment operates principally in China, Japan, Korea, and Taiwan.

Supplemental Information	9 Months Ended
Supplemental Information	Jun. 30, 2009
Supplemental Information [Abstract]
Supplemental Information	14. SUPPLEMENTAL INFORMATION Customer Bankruptcy and Asset Actions As a result of events which occurred during the third quarter of 2009, the Company recognized a $22.2 charge primarily for the write-off of certain receivables due to a customer bankruptcy. This customer, who principally receives product from the Tonnage Gases segment, began operating under Chapter 11 bankruptcy protection on 6 January 2009. Sales and operating income associated with this customer are not material to the Tonnage Gases segment’s results. At 30 June 2009, the Company had remaining outstanding receivables with the customer of $16.4. At the present time, the Company does not expect to recognize additional charges related to this customer. Additionally, the Company recorded a charge of $9.9 for other asset actions which consisted of the closure of certain manufacturing facilities. This charge was reflected in cost of sales on the consolidated income statement. The customer bankruptcy charge combined with this asset write-down resulted in a total charge of $32.1 ($21.0 after-tax, or $.10 per share). Share Repurchase Program On 20 September 2007, the Board of Directors authorized the repurchase of up to $1,000 of the Company’s outstanding common stock. During the nine months ended 30 June 2009, the Company did not purchase any shares under this authorization. At 30 June 2009, $649.2 in share repurchase authorization remains. Industrial Revenue Bonds During the first quarter of 2009, the Company issued two Industrial Revenue Bonds totaling $80.0, the proceeds of which must be held in escrow until related project spending occurs. As of 30 June 2009 and 30 September 2008, $95.4 and $181.2 were held in escrow from Industrial Revenue Bond issuances and classified as other noncurrent assets, respectively. Subsequent Events As discussed in Note 2, New Accounting Standards, the Company adopted the requirements of SFAS No. 165 and has evaluated subsequent events from 30 June 2009 to the filing date of this report on the Form 10-Q. There were no subsequent events required to be recognized or disclosed in the financial statements.