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Equity affiliates' income

1,389.0

846.3

1,495.8

126.9

112.2

145.0

Interest expense

121.9

162.0

Income from Continuing Operations before Taxes

1,394.0

836.6

1,478.8

Income tax provision

339.5

185.3

365.3

Income from Continuing Operations

1,054.5

651.3

1,113.5

Loss from Discontinued Operations, net of tax

(8.6)

(175.4)

Net Income

1,054.5

642.7

938.1

Less: Net Income Attributable to Noncontrolling Interests

25.4

11.4

28.4

Net income attributable to Air Products

1,029.1

631.3

909.7

Net Income Attributable to Air Products

Income from continuing operations

1,029.1

639.9

1,090.5

Loss from discontinued operations

(8.6)

(180.8)

Net income attributable to Air Products

$ 1,029.1

$ 631.3

$ 909.7

Weighted Average of Common Shares Outstanding (in millions)

212.2

209.9

212.2

Weighted Average of Common Shares Outstanding Assuming Dilution (in millions)

217.1

213.5

219.2

Basic Earnings per Common Share Attributable to Air Products

Income from continuing operations

$ 4.85

$ 3.05

$ 5.14

Loss from discontinued operations

(0.04)

(0.85)

Net Income Attributable to Air Products

4.85

3.01

4.29

Diluted Earnings per Common Share Attributable to Air Products

Income from continuing operations

4.74

4.97

Loss from discontinued operations

(0.04)

(0.82)

Net Income Attributable to Air Products

$ 4.74

$ 2.96

$ 4.15

[1]	Information about how this charge related to the businesses at the segment level is discussed in Note 5, Global Cost Reduction Plan.

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	12 Months Ended
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2010	Sep. 30, 2009
Current Assets
Cash and cash items	$ 374.3	$ 488.2
Trade receivables, less allowances for doubtful accounts of $99.3 in 2010 and $65.0 in 2009	1,481.9	1,363.2
Inventories	571.6	509.6
Contracts in progress, less progress billings	163.6	132.3
Prepaid expenses	70.3	99.7
Other receivables and current assets	372.1	404.8
Total Current Assets	3,033.8	2,997.8
Investment in Net Assets of and Advances to Equity Affiliates	912.8	868.1
Plant and Equipment, at cost	16,309.7	15,751.3
Less: Accumulated depreciation	9,258.4	8,891.7
Plant and Equipment, net	7,051.3	6,859.6
Goodwill	914.6	916.0
Intangible Assets, net	285.7	262.6
Noncurrent Capital Lease Receivables	770.4	687.0
Other Noncurrent Assets	537.3	438.0
Total Noncurrent Assets	10,472.1	10,031.3
Total Assets	13,505.9	13,029.1
Current Liabilities
Payables and accrued liabilities	1,702.0	1,674.8
Accrued income taxes	73.6	42.9
Short-term borrowings	286.0	333.8
Current portion of long-term debt	182.5	452.1
Total Current Liabilities	2,244.1	2,503.6
Long-Term Debt	3,659.8	3,715.6
Other Noncurrent Liabilities	1,569.3	1,522.0
Deferred Income Taxes	335.1	357.9
Total Noncurrent Liabilities	5,564.2	5,595.5
Total Liabilities	$ 7,808.3	$ 8,099.1
Commitments and Contingencies - See Note 17
Air Products Shareholder's Equity
Common stock (par value $1 per share; issued 2010 and 2009 - 249,455,584 shares)	$ 249.4	$ 249.4
Capital in excess of par value	802.2	822.9
Retained earnings	7,852.2	7,234.6
Accumulated other comprehensive income (loss)	(1,159.4)	(1,161.8)
Treasury stock, at cost (2010 - 35,652,719 shares; 2009 - 38,195,320 shares)	(2,197.5)	(2,353.2)
Total Air Products Shareholders' Equity	5,546.9	4,791.9
Noncontrolling Interests	150.7	138.1
Total Equity	5,697.6	4,930.0
Total Liabilities and Equity	$ 13,505.9	$ 13,029.1

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2010	Sep. 30, 2009
Current Assets
Allowances for doubtful accounts	$ 99.3	$ 65.0
Equity
Common stock, par value	$ 1	$ 1
Common stock, issued shares	249,455,584	249,455,584
Treasury stock, shares	35,652,719	38,195,320

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Operating Activities
Net income	$ 1,054.5	$ 642.7	$ 938.1
Less: Net income attributable to noncontrolling interests	25.4	11.4	28.4
Net income attributable to Air Products	1,029.1	631.3	909.7
Adjustments to reconcile income to cash provided by operating activities:
Depreciation and amortization	863.4	840.3	869.0
Impairment of assets of continuing operations	3.8	69.2
Impairment of assets of discontinued operations		49.5	314.8
Gain on sale of discontinued operations		(2.1)	(105.9)
Deferred income taxes	96.2	(52.3)	36.9
Undistributed earnings of unconsolidated affiliates	(50.6)	(58.0)	(77.8)
(Gain) loss on sale of assets and investments	(14.8)	3.6	0.3
Share-based compensation	48.6	60.4	61.4
Noncurrent capital lease receivables	(85.6)	(186.7)	(192.6)
Acquisition-related costs	84.0
Customer bankruptcy		22.2
Other adjustments	(9.0)	(1.3)	(17.9)
Working capital changes that provided (used) cash, excluding effects of acquisitions and divestitures:
Trade receivables	(142.5)	159.0	(97.4)
Inventories	(65.9)	(17.7)	(34.9)
Contracts in progress	(33.9)	12.5	95.2
Other receivables	41.5	(11.9)	(120.6)
Payables and accrued liabilities	(293.6)	(282.8)	36.2
Other working capital	51.7	94.2	(17.6)
Cash Provided by Operating Activities	1,522.4	1,329.4	1,658.8
Investing Activities
Additions to plant and equipment	(1,030.9)	(1,179.1)	(1,085.1)
Acquisitions, less cash acquired	(37.2)	(32.7)	(72.0)
Investment in and advances to unconsolidated affiliates	(4.8)	(24.5)	(2.2)
Investment in Airgas stock	(69.6)
Proceeds from sale of assets and investments	52.4	57.9	19.6
Proceeds from sale of discontinued operations		51.0	423.0
Change in restricted cash	33.6	87.0	(183.6)
Other investing activities			(19.5)
Cash Used for Investing Activities	(1,056.5)	(1,040.4)	(919.8)
Financing Activities
Long-term debt proceeds	226.2	610.5	580.1
Payments on long-term debt	(436.4)	(82.9)	(95.7)
Net decrease in short-term borrowings	(74.6)	(122.7)	(178.9)
Dividends paid to shareholders	(398.7)	(373.3)	(349.3)
Purchase of treasury stock			(793.4)
Proceeds from stock option exercises	88.1	54.4	87.4
Excess tax benefit from share-based compensation	23.9	15.5	52.1
Other financing activities	(8.2)	(6.5)	20.0
Cash (Used for) Provided by Financing Activities	(579.7)	95.0	(677.7)
Effect of Exchange Rate Changes on Cash	(0.1)	0.7	1.7
(Decrease) Increase in Cash and Cash Items	(113.9)	384.7	63.0
Cash and Cash Items - Beginning of Year	488.2	103.5	40.5
Cash and Cash Items - End of Year	374.3	488.2	103.5
Significant noncash transactions
Short-term borrowings associated with SAGA acquisition	60.9
Noncurrent liability related to the purchase of shares from noncontrolling interests	42.0
Cash paid for interest and taxes
Interest (net of amounts capitalized)	126.9	127.6	159.5
Taxes (net of refunds)	$ 192.0	$ 124.5	$ 237.2

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Millions	3 Months Ended				12 Months Ended
CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Millions	Sep. 30, 2010	Dec. 31, 2009	Sep. 30, 2009	Dec. 31, 2008	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008	Sep. 30, 2008
Statement [Line Items]
Balance, beginning of year		$ 4,930.0		$ 5,166.9	$ 4,930.0	$ 5,166.9
Adjusted balance, beginning of year	$ 5,546.9		$ 4,791.9					$ 5,030.7
Net income attributable to Air Products	272.1	251.8	243.9	68.6	1,029.1	631.3	$ 909.7
Total Air Products Shareholders' Equity	5,546.9		4,791.9					5,030.7
Net income attributable to noncontrolling interests					25.4	11.4	28.4
Balance, end of year	5,697.6	4,930.0	4,930.0	5,166.9	4,930.0	5,166.9		5,166.9
Net Income	$ 278.0	$ 256.8	$ 243.9	$ 73.6	$ 1,054.5	$ 642.7	$ 938.1
Common Stock
Statement [Line Items]
Shares, Outstanding, Beginning Balance		211,260,264		209,334,627	211,260,264	209,334,627	215,355,685
Balance, beginning of year		$ 249.4		$ 249.4	$ 249.4	$ 249.4	$ 249.4
Purchase of treasury shares							(8,676,029)
Issuance of treasury shares for stock option and award plans					2,452,601	1,925,637	2,654,971
Shares, Outstanding, End of year	213,802,865		211,260,264		213,802,865	211,260,264	209,334,627
Balance, end of year		249.4	$ 249.4	249.4	$ 249.4	$ 249.4	$ 249.4	249.4
Capital in Excess of Par Value
Statement [Line Items]
Balance, beginning of year		822.9		811.7	822.9	811.7	759.5
Share-based compensation expense					48.6	59.3	62.5
Issuance of treasury shares for stock option and award plans					(76.0)	(71.9)	(74.2)
Tax benefit of stock option and award plans					35.0	23.8	63.9
Purchase of noncontrolling interests					(28.3)
Balance, end of year	$ 802.2	822.9	822.9	811.7	822.9	811.7	759.5	811.7
Retained Earnings
Statement [Line Items]
Balance, beginning of year		7,234.6		6,990.2	7,234.6	6,990.2	6,458.5
Initial recording of accounting for uncertain tax positions							(13.3)
Defined benefit plans measurement date change						(8.1)
Adjusted balance, beginning of year	7,234.6		6,982.1					6,445.2
Net income attributable to Air Products					1,029.1	631.3	909.7
Dividends on common stock					(408.4)	(376.3)	(359.6)
Other					(3.1)	(2.5)	(5.1)
Total Air Products Shareholders' Equity	7,234.6		6,982.1					6,445.2
Balance, end of year	7,852.2	7,234.6	7,234.6	6,990.2	7,234.6	6,990.2	6,458.5	6,990.2
Accumulated Other Comprehensive Income (Loss)
Statement [Line Items]
Balance, beginning of year		(1,161.8)		(549.3)	(1,161.8)	(549.3)	(142.9)
Defined benefit plans measurement date change						35.8
Adjusted balance, beginning of year	(1,161.8)		(513.5)					(142.9)
Total Air Products Shareholders' Equity	(1,161.8)		(513.5)					(142.9)
Balance, end of year	(1,159.4)	(1,161.8)	(1,161.8)	(549.3)	(1,161.8)	(549.3)	(142.9)	(549.3)
Components of Other Comprehensive Income (Loss), net of tax
Statement [Line Items]
Translation adjustments, net of tax (benefit)					136.4	(148.3)	(186.3)
Net gain (loss) on derivatives, net of tax (benefit)					(11.6)	(4.5)	(74.4)
Unrealized holding gain (loss) on available-for-sale securities, net of tax (benefit)					20.2	2.4	(4.5)
Pension and postretirement benefits, net of tax (benefit)					(201.7)	(518.3)	(185.5)
Currency translation adjustment					(0.7)	(3.2)	(53.7)
Derivatives, net of tax (benefit)					14.8	(0.7)	50.7
Available-for-sale securitites, net of tax (benefit)					(10.0)
Pension and postretirement benefits, net of tax					55.0	24.3	47.3
Other comprehensive income (loss)					2.4	(648.3)	(406.4)
Treasury Stock
Statement [Line Items]
Balance, beginning of year		(2,353.2)		(2,471.3)	(2,353.2)	(2,471.3)	(1,828.9)
Issuance of treasury shares for stock option and award plans					155.7	118.1	145.0
Purchase of treasury shares							(787.4)
Balance, end of year	(2,197.5)	(2,353.2)	(2,353.2)	(2,471.3)	(2,353.2)	(2,471.3)	(1,828.9)	(2,471.3)
Noncontrolling Interests
Statement [Line Items]
Balance, beginning of year		138.1		136.2	138.1	136.2	177.3
Net gain (loss) on derivatives, net of tax (benefit)						(0.2)
Net income attributable to noncontrolling interests					25.4	11.4	28.4
Translation adjustments, net of tax					2.0	(0.8)	(0.3)
Pension and postretirement benefits, net of tax					(0.2)	(1.6)
Dividends to noncontrolling interests					(18.7)	(8.9)	(5.8)
Purchase of noncontrolling interests					(10.8)	(0.4)	(6.7)
Contribution from noncontrolling interests					14.7	2.4	32.9
Other equity transactions					0.2		(0.2)
Noncontrolling interests of discontinued operations							(89.4)
Balance, end of year	$ 150.7	$ 138.1	$ 138.1	$ 136.2	138.1	136.2	177.3	$ 136.2
Other comprehensive income (loss)					1.8	(2.6)	(0.3)
Comprehensive Income (Loss) [Member]
Statement [Line Items]
Translation adjustments, net of tax (benefit)					138.4	(149.1)	(186.6)
Net gain (loss) on derivatives, net of tax (benefit)					(11.6)	(4.7)	(74.4)
Unrealized holding gain (loss) on available-for-sale securities, net of tax (benefit)					20.2	2.4	(4.5)
Pension and postretirement benefits, net of tax (benefit)					(201.9)	(519.9)	(185.5)
Currency translation adjustment					(0.7)	(3.2)	(53.7)
Derivatives, net of tax (benefit)					14.8	(0.7)	50.7
Available-for-sale securitites, net of tax (benefit)					(10.0)
Pension and postretirement benefits, net of tax					55.0	24.3	47.3
Net Income					1,054.5	642.7	938.1
Other comprehensive income (loss)					4.2	(650.9)	(406.7)
Comprehensive Income (Loss)					1,031.5	(17.0)	503.3
Comprehensive Income (Loss) Attributable to Noncontrolling Interests					27.2	8.8	28.1
Comprehensive Income (Loss)					$ 1,058.7	$ (8.2)	$ 531.4

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Statement [Line Items]
Dividends per share	$ 1.92	$ 1.79
Retained Earnings
Statement [Line Items]
Dividends per share	$ 1.92	$ 1.79	$ 1.7
Accumulated Other Comprehensive Income (Loss)
Statement [Line Items]
Tax effect on defined benefit plans measurement date change	$ 14.0	$ 14.0	$ 14.0
Tax effect on translation adjustments	69.4	(35.2)	7.9
Tax effect on net gain (loss) on derivatives	(5.5)	(1.8)	(30.2)
Tax effect on unrealized holding gain (loss) on available-for-sale securities	12.1	1.4	(2.4)
Tax effect pension and postretirement benefits	(103.0)	(287.4)	(92.0)
Components of Other Comprehensive Income (Loss), net of tax
Statement [Line Items]
Tax effect on available-for-sale securities	(5.8)	(5.8)	(5.8)
Tax effect on pension and postretirement benefits reclassified	29.5	9.8	24.5
Tax effect on derivative adjustments	7.0	(0.8)	19.2
Noncontrolling Interests
Statement [Line Items]
Tax effect on translation adjustments	0.1	(0.1)
Tax effect on derivative adjustments
Pension and postretirement benefits, net of tax (benefit)		(0.3)
Comprehensive Income (Loss) [Member]
Statement [Line Items]
Tax effect on translation adjustments	69.5	(35.3)	7.9
Tax effect on net gain (loss) on derivatives	(5.5)	(1.8)	(30.2)
Tax effect on unrealized holding gain (loss) on available-for-sale securities	12.1	1.4	(2.4)
Tax effect pension and postretirement benefits	(103.0)	(287.7)	(92.0)
Tax effect on available-for-sale securities	(5.8)	(5.8)	(5.8)
Tax effect on pension and postretirement benefits reclassified	29.5	9.8	24.5
Tax effect on derivative adjustments	$ 7.0	$ (0.8)	$ 19.2

Major Accounting Policies

12 Months Ended

Sep. 30, 2010

Major Accounting Policies

Major Accounting Policies

1. Major Accounting Policies

Consolidation Principles

The consolidated financial statements include the accounts of Air Products and Chemicals, Inc. and those of its controlled subsidiaries (the Company or Air Products), which are generally majority owned. Intercompany transactions and balances are eliminated in consolidation.

The Company consolidates all entities that it controls. The general condition for control is ownership of a majority of the voting interests of an entity. Control may also exist in arrangements where the Company is the primary beneficiary of a variable interest entity. An entity that will absorb the majority of a variable interest entity's expected losses or expected residual returns is considered a primary beneficiary of that entity. The Company has determined that it is not a primary beneficiary in any material variable interest entity.

Estimates and Assumptions

The preparation of the financial statements in accordance with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Revenue Recognition

Revenue from product sales is recognized as risk and title to the product transfers to the customer (which generally occurs at the time shipment is made), the sales price is fixed or determinable, and collectibility is reasonably assured. Sales returns and allowances are not a business practice in the industry.

Revenues from equipment sale contracts are recorded primarily using the percentage-of-completion method. Under this method, revenues from the sale of major equipment, such as liquefied natural gas (LNG) heat exchangers and large air separation units, are recognized primarily based on labor hours incurred to date compared with total estimated labor hours. Changes to total estimated labor hours and anticipated losses, if any, are recognized in the period determined.

Amounts billed for shipping and handling fees are classified as sales in the consolidated income statements.

Amounts billed for sales and use taxes, value-added taxes, and certain excise and other specific transactional taxes imposed on revenue-producing transactions are presented on a net basis and excluded from sales in the consolidated income statements. The Company records a liability until remitted to the respective taxing authority.

Certain contracts associated with facilities that are built to provide product to a specific customer are required to be accounted for as leases. In cases where operating lease treatment is necessary, there is no difference in revenue recognition over the life of the contract as compared to accounting for the contract as product sales. In cases where capital lease treatment is necessary, the timing of revenue and expense recognition is impacted. Revenue and expense are recognized up front for the sale of equipment component of the contract as compared to revenue recognition over the life of the arrangement under contracts not qualifying as capital leases. Additionally, a portion of the revenue representing interest income from the financing component of the lease receivable is reflected as sales over the life of the contract.

If an arrangement involves multiple deliverables, the delivered items are considered separate units of accounting if the items have value on a stand-alone basis and there is objective and reliable evidence of their fair values. Revenues from the arrangement are allocated to the separate units of accounting based on their relative fair values.

Cost of Sales

Cost of sales predominantly represents the cost of tangible products sold. These costs include labor, raw materials, plant engineering, power, depreciation, production supplies and materials packaging costs, and maintenance costs. Costs incurred for shipping and handling are also included in cost of sales.

Depreciation

Depreciation is recorded using the straight-line method, which deducts equal amounts of the cost of each asset from earnings every year over its expected economic useful life. The principal lives for major classes of plant and equipment are summarized in the table below:


		Principal Estimated Useful Lives
Buildings		30 years
Production facilities ^(A)
Merchant Gases		15 years
Tonnage Gases		15 to 20 years
Electronics and Performance Materials		10 to 15 years
Equipment and Energy		5 to 20 years
Distribution equipment ^(B)		5 to 25 years
Other machinery and equipment		10 to 25 years

^(A)

Depreciable lives of production facilities related to long-term customer supply contracts associated with the tonnage gases business are matched to the contract lives.

^(B)

The depreciable lives for various types of distribution equipment are 10 to 25 years for cylinders, depending on the nature and properties of the product; 20 years for tanks; 7.5 years for customer stations; 5 to 15 years for tractors and trailers.

Selling and Administrative

The principal components of selling and administrative expenses are salaries, advertising, and promotional costs.

Postemployment Benefits

The Company has substantive ongoing severance arrangements. Termination benefits provided to employees as part of the global cost reduction plan (discussed in Note 5, Global Cost Reduction Plan) are consistent with termination benefits in previous, similar arrangements. Because the Company's plan met the definition of an ongoing benefit arrangement, a liability was recognized for termination benefits when probable and estimable. These criteria are met when management, with the appropriate level of authority, approves and commits to its plan of action for termination; the plan identifies the employees to be terminated and their related benefits; and the plan is to be completed within one year. During periods of operations where terminations are made on an as-needed basis, absent a detailed committed plan, terminations are accounted for on an individual basis and a liability is recognized when probable and estimable.

Financial Instruments

The Company addresses certain financial exposures through a controlled program of risk management that includes the use of derivative financial instruments. Refer to Note 13, Financial Instruments, for further detail on the types and use of derivative instruments that the Company enters into. The types of derivative financial instruments permitted for such risk management programs are specified in policies set by management.

Major financial institutions are counterparties to all of these derivative contracts. The Company has established counterparty credit guidelines and only enters into transactions with financial institutions of investment grade or better. Management believes the risk of incurring losses related to credit risk is remote, and any losses would be immaterial to the consolidated financial results, financial condition, or liquidity.

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).

The following details 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 (AOCI) 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 AOCI.

•

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

The Company formally documents the relationships between hedging instruments and hedged items, as well as its risk management objective and strategy for undertaking various hedge transactions. This process includes relating derivatives that are designated as fair value or cash flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. The Company also formally assesses, at the inception of the hedge and on an ongoing basis, whether each derivative is highly effective in offsetting changes in fair values or cash flows of the hedged item. If it is determined that a derivative is not highly effective as a hedge, or if a derivative ceases to be a highly effective hedge, the Company will discontinue hedge accounting with respect to that derivative prospectively.

Foreign Currency

Since the Company does business in many foreign countries, fluctuations in currency exchange rates affect the Company's financial position and results of operations.

In most of the Company's foreign operations, local currency is considered the functional currency. Generally, foreign subsidiaries translate their assets and liabilities into U.S. dollars at current exchange rates—that is, the rates in effect at the end of the fiscal period. The gains or losses that result from this process are shown in AOCI in the equity section of the consolidated balance sheet.

The revenue and expense accounts of foreign subsidiaries are translated into U.S. dollars at the average exchange rates that prevailed during the period. Therefore, the U.S. dollar value of these items on the consolidated income statement fluctuates from period to period, depending on the value of the dollar against foreign currencies. Some transactions are made in currencies different from an entity's functional currency. Gains and losses from these foreign currency transactions are generally included in earnings as they occur.

Environmental Expenditures

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. Remediation costs are capitalized if the costs improve the Company's property as compared with the condition of the property when originally constructed or acquired, or if the costs prevent environmental contamination from future operations. The Company expenses environmental costs related to existing conditions resulting from past or current operations and from which no current or future benefit is discernible.

The measurement of environmental liabilities is based on an evaluation of currently available information with respect to each individual site and considers factors such as existing technology, presently enacted laws and regulations, and prior experience in remediation of contaminated sites. An environmental liability related to cleanup of a contaminated site might include, for example, a provision for one or more of the following types of costs: site investigation and testing costs, cleanup costs, costs related to soil and water contamination resulting from tank ruptures, post-remediation monitoring costs, and outside legal fees. These liabilities include costs related to other potentially responsible parties to the extent that the Company has reason to believe such parties will not fully pay their proportionate share. They do not take into account any claims for recoveries from insurance or other parties and are not discounted.

As assessments and remediation progress at individual sites, the amount of projected cost is reviewed periodically, and the liability is adjusted to reflect additional technical and legal information that becomes available. Management has a well-established process in place to identify and monitor the Company's environmental exposures. An environmental accrual analysis is prepared and maintained that lists all environmental loss contingencies, even where an accrual has not been established. This analysis assists in monitoring the Company's overall environmental exposure and serves as a tool to facilitate ongoing communication among the Company's technical experts, environmental managers, environmental lawyers, and financial management to ensure that required accruals are recorded and potential exposures disclosed.

Actual costs to be incurred at identified sites in future periods may vary from the estimates, given inherent uncertainties in evaluating environmental exposures. Refer to Note 17, Commitments and Contingencies, for additional information on the Company's environmental loss contingencies.

The accruals for environmental liabilities are reflected in the consolidated balance sheets, primarily as part of other noncurrent liabilities, and will be paid over a period of up to 30 years.

Litigation

In the normal course of business, the Company is involved in legal proceedings. The Company accrues a liability for such matters when it is probable that a liability has been incurred and the amount can be reasonably estimated. When only a range of possible loss can be established, the most probable amount in the range is accrued. If no amount within this range is a better estimate than any other amount within the range, the minimum amount in the range is accrued. The accrual for a litigation loss contingency includes estimates of potential damages and other directly related costs expected to be incurred.

Share-Based Compensation

The Company has various share-based compensation programs, which include stock options, deferred stock units, and restricted stock. Refer to Note 19, Share-Based Compensation, for further detail. The Company expenses the grant-date fair value of these awards over the vesting period during which employees perform related services.

Income Taxes

The Company accounts for income taxes under the liability method. Under this method, deferred tax assets and liabilities are recognized for the tax effects of temporary differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates. A principal temporary difference results from the excess of tax depreciation over book depreciation because accelerated methods of depreciation and shorter useful lives are used for income tax purposes. The cumulative impact of a change in tax rates or regulations is included in income tax expense in the period that includes the enactment date.

A tax benefit for an uncertain tax position is recognized when it is more likely than not that the position will be sustained upon examination based on its technical merits. This position is measured as the largest amount of tax benefit that is greater than 50% likely of being realized. Interest and penalties related to unrecognized tax benefits are recognized as a component of income tax expense.

Cash and Cash Items

Cash and cash items include cash, time deposits, and certificates of deposit acquired with an original maturity of three months or less.

Trade Receivables, Less Allowances for Doubtful Accounts

Trade receivables primarily comprise amounts owed to the Company through its operating activities and are presented net of allowances for doubtful accounts. The allowances for doubtful accounts represent estimated uncollectible receivables associated with potential customer defaults on contractual obligations. A provision for customer defaults is made on a general formula basis when it is determined that the risk of some default is probable and estimable but cannot yet be associated with specific customers. The assessment of the likelihood of customer defaults is based on various factors, including the length of time the receivables are past due, historical experience, and existing economic conditions. The allowances also include amounts for certain customers where a risk of default has been specifically identified considering factors such as the financial condition of the customer and customer disputes over contractual terms and conditions. Provisions to the allowances for doubtful accounts charged against income were $29.5, $37.8, and $14.4 in 2010, 2009, and 2008, respectively.

Inventories

Inventories are stated at the lower of cost or market. The Company writes down its inventories for estimated obsolescence or unmarketable inventory based upon assumptions about future demand and market conditions.

The Company utilizes the last-in, first-out (LIFO) method for determining the cost of inventories in the Merchant Gases, Tonnage Gases, and Electronics and Performance Materials segments in the United States. Inventories for these segments outside of the United States are accounted for on the first-in, first-out (FIFO) method, as the LIFO method is not generally permitted in the foreign jurisdictions where these segments operate. The inventories of the Equipment and Energy segment on a worldwide basis, as well as all other inventories, are accounted for on the FIFO basis.

At the business segment level, inventories are recorded at FIFO and the LIFO pool adjustments are not allocated to the business segments.

Equity Investments

The equity method of accounting is used when the Company has a 20% or greater interest in other companies and exercises significant influence but does not have operating control. Under the equity method, original investments are recorded at cost and adjusted by the Company's share of undistributed earnings or losses of these companies. Equity investments are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment may not be recoverable.

Plant and Equipment

Plant and equipment is stated at cost less accumulated depreciation. Construction costs, labor, and applicable overhead related to installations are capitalized. Expenditures for additions and improvements that extend the lives or increase the capacity of plant assets are capitalized. The costs of maintenance and repairs of plant and equipment are charged to expense as incurred.

Fully depreciated assets are retained in the gross plant and equipment and accumulated depreciation accounts until they are removed from service. In the case of disposals, assets and related depreciation are removed from the accounts, and the net amounts, less proceeds from disposal, are included in income.

Restricted Cash

Restricted cash includes the proceeds from the issuance of certain industrial revenue bonds that must be held in escrow until related project spending occurs. Restricted cash is classified as noncurrent assets in the consolidated balance sheets.

Capitalized Interest

As the Company builds new plant and equipment, it includes in the cost of these assets a portion of the interest payments it makes during the year. The amount of capitalized interest was $14.3, $21.9, and $22.1 in 2010, 2009, and 2008, respectively.

Asset Retirement Obligations

The fair value of a liability for an asset retirement obligation is recognized in the period in which it is incurred. The liability is measured at discounted fair value and is adjusted to its present value in subsequent periods as accretion expense is recorded. The corresponding asset retirement costs are capitalized as part of the carrying amount of the related long-lived asset and depreciated over the asset's useful life. The Company's asset retirement obligations are primarily associated with Tonnage Gases on-site long-term supply contracts, under which the Company has built a facility on land leased from the customer and is obligated to remove the facility at the end of the contract term. The Company's asset retirement obligations totaled $57.6 and $43.5 at 30 September 2010 and 2009, respectively.

Computer Software

The Company capitalizes costs incurred to purchase or develop software for internal use. Capitalized costs include purchased computer software packages, payments to vendors/consultants for development and implementation or modification to a purchased package to meet Company requirements, payroll and related costs for employees directly involved in development, and interest incurred while software is being developed. Capitalized computer software costs are included in the balance sheet classification plant and equipment and depreciated over the estimated useful life of the software, generally a period of three to ten years. The Company's SAP system is being depreciated over a ten-year life.

Impairment of Long-Lived Assets

Long-lived assets are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company assesses recoverability by comparing the carrying amount of the asset to estimated undiscounted future cash flows expected to be generated by the asset. If an asset is considered impaired, the impairment loss to be recognized is measured as the amount by which the asset's carrying amount exceeds its fair value. Long-lived assets to be disposed of are reported at the lower of carrying amount or fair value less cost to sell.

Goodwill

Acquisitions are accounted for using the acquisition method. The purchase price is allocated to the assets acquired and liabilities assumed based on their estimated fair market values. Any excess purchase price over the fair market value of the net assets acquired, including identified intangibles, is recorded as goodwill. Preliminary purchase price allocations are made at the date of acquisition and finalized when information needed to affirm underlying estimates is obtained, within a maximum allocation period of one year.

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.

Intangible Assets

Intangible assets with determinable lives primarily consist of customer relationships and purchased patents and technology. The Company has no acquired intangible assets with indefinite lives. The cost of intangible assets with determinable lives is amortized on a straight-line basis over the estimated period of economic benefit. No residual value is estimated for these intangible assets.

Customer relationships are generally amortized over periods of five to twenty-five years. Purchased patents and technology and other intangibles are amortized based on contractual terms, ranging generally from five to twenty years. Amortizable lives are adjusted whenever there is a change in the estimated period of economic benefit.

Retirement Benefits

The cost of retiree benefits is recognized over the employees' service period. The Company is required to use actuarial methods and assumptions in the valuation of defined benefit obligations and the determination of expense. Differences between actual and expected results or changes in the value of obligations and plan assets are not recognized in earnings as they occur but, rather, systematically and gradually over subsequent periods. Refer to Note 16, Retirement Benefits, for disclosures related to the Company's pension and other postretirement benefits.

New Accounting Guidance	12 Months Ended
New Accounting Guidance	Sep. 30, 2010
New Accounting Guidance
New Accounting Guidance	2. New Accounting Guidance New Accounting Guidance to be Implemented CONSOLIDATION OF VARIABLE INTEREST ENTITIES In June 2009, the Financial Accounting Standards Board (FASB) issued authoritative guidance that amends previous guidance for determining whether an entity is a variable interest entity (VIE). It 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, ongoing reassessments of whether an enterprise is the primary beneficiary of a VIE are required. This guidance is effective for the Company for fiscal year 2011. The adoption of this guidance will not have a material impact on the Company's consolidated financial statements. MULTIPLE-DELIVERABLE REVENUE ARRANGEMENTS In October 2009, the FASB issued authoritative guidance on multiple-deliverable revenue arrangements. This new guidance amends the existing criteria for separating consideration received in multiple-deliverable arrangements and requires that arrangement consideration be allocated at the inception of the arrangement to all deliverables based on their relative selling price. The guidance establishes a hierarchy for determining the selling price of a deliverable which is based on vendor-specific objective evidence, third-party evidence, or management estimates. Expanded disclosures related to multiple-deliverable revenue arrangements are also required. This guidance is effective for the Company for fiscal year 2011. Upon adoption, the guidance may be applied either prospectively from the beginning of the fiscal year for new or materially modified arrangements, or it may be applied retrospectively. The adoption of this guidance will not have a material impact on the Company's consolidated financial statements. Accounting Guidance Implemented BUSINESS COMBINATIONS In December 2007, the FASB issued authoritative guidance to affirm that the acquisition method of accounting (previously referred to as the purchase method) be used for all business combinations and for an acquirer to be identified for each business combination. This guidance defines the acquirer as the entity that obtains control of one or more businesses in the business combination and establishes the acquisition date as the date that the acquirer achieves control. Among other requirements, the guidance requires the acquiring entity in a business combination to recognize at full fair value all the assets acquired and liabilities assumed in the transaction. If a business combination is achieved in stages, the previously-held ownership interest is adjusted to fair value at the acquisition date, and any resulting gain or loss is recognized in earnings. Contingent consideration is recognized at fair value at the acquisition date, and restructuring and acquisition-related costs are expensed as incurred. The fair value of assets and liabilities acquired, including uncertain tax positions, can be adjusted during the measurement period. Any adjustments after the measurement period, which cannot exceed one year, will be recognized in earnings. This guidance was effective for the Company beginning on 1 October 2009 and was applied prospectively. The adoption of this guidance did not have a material impact on the Company's 2010 consolidated financial statements. NONCONTROLLING INTERESTS In December 2007, the FASB issued authoritative guidance that establishes the accounting and reporting standards for the noncontrolling interests in a subsidiary and for the deconsolidation of a subsidiary. It requires entities to report noncontrolling interests in subsidiaries separately within equity in the consolidated balance sheets. It also requires disclosure, on the face of the consolidated income statement, of the amounts of consolidated net income attributable to the parent and noncontrolling interests. Changes in a parent's ownership interests while the parent retains control are treated as equity transactions. If a parent loses control of a subsidiary, any retained noncontrolling interests would be measured at fair value, with any gain or loss recognized in earnings. This guidance was effective for the Company on 1 October 2009 and was applied prospectively, except for the presentation and disclosure requirements related to noncontrolling interests, which were applied retrospectively for all periods presented. The Company's consolidated financial statements have been updated to reflect the new presentation. FAIR VALUE MEASUREMENTS In September 2006, the FASB issued authoritative guidance that defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. Effective 1 October 2008, the Company adopted this guidance for financial assets and liabilities and any other assets and liabilities that are recognized and disclosed at fair value on a recurring basis. The requirement for other nonfinancial assets and liabilities was effective on 1 October 2009 for the Company. This guidance did not impact the Company's consolidated financial statements upon adoption. In January 2010, the FASB issued authoritative guidance on improving disclosures about fair value measurements. This guidance requires new disclosures about transfers in and out of Level 1 and 2 measurements and separate disclosures about activity relating to Level 3 measurements. In addition, this guidance clarifies existing fair value disclosures about the level of disaggregation and the input and valuation techniques used to measure fair value. The guidance only relates to disclosure and does not impact the Company's consolidated financial statements. The Company adopted this guidance in the second quarter of fiscal year 2010. There was no significant impact to the Company's disclosures upon adoption. EMPLOYERS' DISCLOSURES ABOUT POSTRETIREMENT BENEFIT PLAN ASSETS In December 2008, the FASB issued authoritative guidance to require employers to provide additional disclosures about plan assets of a defined benefit or other postretirement plan. Disclosures include information about investment policies and strategies, major categories of plan assets, the inputs and valuation techniques used to measure the fair value of plan assets, and significant concentrations of risk. This guidance was effective for the Company beginning with its fiscal year-end 2010. Upon adoption, this guidance was not required to be applied to earlier periods that are presented for comparative purposes. This guidance only requires additional disclosure and did not have an impact on the Company's consolidated financial statements upon adoption. Refer to Note 16, Retirement Benefits, for the required disclosures.

Airgas Transaction	12 Months Ended
Airgas Transaction	Sep. 30, 2010
Airgas Transaction
Airgas Transaction	3. Airgas Transaction In February 2010, the Company commenced a tender offer to acquire all the outstanding common stock of Airgas, Inc. (Airgas), including the associated preferred stock purchase rights, for $60.00 per share in cash, less any required withholding tax, and subject to the terms and conditions set forth in the Offer to Purchase, dated 11 February 2010, as amended. Airgas, a Delaware company, is the largest U.S. distributor of industrial, medical, and specialty gases, and hard goods. On 6 September 2010, the Company increased the value of its tender offer to $65.50 per share. At this price, the total value of the transaction would be approximately $7.4 billion, including $5.7 billion of equity and $1.7 billion of assumed debt. The offer and withdrawal rights are scheduled to expire on 3 December 2010, unless further extended. At the Airgas' Annual Meeting of Shareholders on 15 September 2010, Airgas shareholders elected three directors nominated by Air Products and also voted in favor of Air Products' three by-law amendment proposals. Following the Annual Meeting, Airgas filed suit in the Delaware Chancery Court to invalidate the by-law amendment that would move Airgas' next annual meeting to January 2011. On 8 October 2010, the Delaware Chancery Court ruled that the by-law amendment was properly adopted at the Airgas Annual Meeting on 15 September 2010 and that it is valid under Delaware law. Airgas has appealed the Court's ruling. Further, in October 2010, the U.S. Federal Trade Commission approved the terms of a Consent Decree for the proposed acquisition of Airgas. The Consent Decree would permit the Company to acquire Airgas subject to the divestiture of certain assets within a period of time after the closing of the acquisition. The assets to be divested relate primarily to Airgas' liquid bulk and on-site supply of atmospheric gases, including production and related assets. Prior to the tender offer, the Company purchased approximately 1.5 million shares of Airgas stock for $69.6. This amount was recorded as an available-for-sale investment within other noncurrent assets on the consolidated balance sheet. For the year ended 30 September 2010, an after-tax unrealized holding gain of $20.6 was recorded in other comprehensive income within total equity on the consolidated balance sheet. In connection with this tender offer, the Company has secured committed financing in the form of a $6.7 billion term loan credit facility. Refer to Note 15, Debt, for additional information on this credit facility. For the year ended 30 September 2010, $96.0 ($60.1 after-tax, or $.28 per share) in expense was recognized related to this transaction and is included within acquisition-related costs on the consolidated income statement. This includes amortization of the fees related to the term loan credit facility and other acquisition-related costs. Total costs of this transaction are expected to be approximately $150 to $200.

Business Combinations	12 Months Ended
Business Combinations	Sep. 30, 2010
Business Combinations
Business Combinations	4. Business Combinations In the second quarter of 2010, the Company entered into agreements that will enable it to acquire 100% of the outstanding shares of the French SAGA group (SAGA), which consists of SAGA, SAGA Medical, and SAGA Technologies. SAGA is an independent industrial gas provider in France with packaged gases, liquid bulk, and medical businesses. The acquisition of SAGA supports the Merchant Gases segment's integration strategy by enhancing market position in southwest and central France. SAGA revenues for calendar year 2009 were approximately € 25, or $35. Under the terms of these agreements, the Company purchased 51.47% of the shares of SAGA on 1 March 2010 for € 34.5 or $47.2 ($25.0 net of cash acquired of $22.2). The remaining shares are expected to be purchased by the end of calendar year 2010 for a fixed price of € 44.8, or approximately $61, under a put and call option structure. At 30 September 2010, this structure was accounted for as a financing of the purchase of the remaining shares and reported within short-term borrowings on the consolidated balance sheet. The acquisition of SAGA was accounted for as a business combination, and its results of operations were included in the Company's consolidated income statement after the acquisition date. The purchase price has been allocated to the assets acquired and the liabilities assumed based on their fair values as of the acquisition date, with the amount exceeding the fair value recorded as goodwill. During the fourth quarter of 2010, the Company finalized the purchase price allocation with no material adjustments made to the preliminary valuation. The final purchase price allocation included identified intangibles of $42.5, plant and equipment of $40.8, goodwill of $35.0 (which is deductible for tax purposes), and other net assets of $12.7. Additionally, deferred tax liabilities of $23.0 were recognized. The identified intangibles primarily relate to customer relationships and are being amortized over 23 years. Goodwill, which was assigned to the Merchant Gases segment, largely consisted of expected revenue and cost synergies resulting from the business combination. Revenue synergies will result primarily from the sale of differentiated offerings and cost synergies from combining supply chains and optimization of the combined logistics. The fair value of plant and equipment was quantified primarily using a cost approach, by estimating reproduction/replacement cost consistent with assumptions market participants would use. Intangible assets consisted primarily of customer relationships for which fair value was determined using a discounted cash flow analysis under the income approach. The income approach required estimating a number of factors, including projected revenue growth, customer attrition rates, profit margin, and the discount rate. The remaining identifiable assets and liabilities were primarily cash, accounts receivable, and payables and accrued liabilities, for which book value approximated fair value. Prior Year Acquisitions Acquisitions in 2009, totaling $32.7, included principally the purchase of S.I.Q. — Beteiligungs GmbH, a manufacturer of epoxy additives. In 2008, acquisitions totaled $72.0 and included the purchase of an additional interest in CryoService Limited, a cryogenic and specialty gases company in the U.K. See Note 20, Noncontrolling Interests, for a discussion on a related put option agreement.

Global Cost Reduction Plan

12 Months Ended

Sep. 30, 2010

Global Cost Reduction Plan

Global Cost Reduction Plan

5. Global Cost Reduction Plan

2009 Plan

The 2009 results from continuing operations included a total charge of $298.2 ($200.3 after-tax, or $.94 per share) for the global cost reduction plan. In the first quarter of 2009, the Company announced the 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 2009 first-quarter results included a charge of $174.2 ($116.1 after-tax, or $.55 per share). In the third quarter 2009, due to the continuing slow economic recovery, the Company committed to additional actions associated with its global cost reduction plan that resulted in a charge of $124.0 ($84.2 after-tax, or $.39 per share).

The total 2009 charge included $210.0 for severance and other benefits, including pension-related costs, associated with the elimination of approximately 2,550 positions from the Company's global workforce. The reductions were targeted at reducing overhead and infrastructure costs, reducing and refocusing elements of the Company's technology and business development spending, lowering its plant operating costs, and the closure of certain manufacturing facilities. The remainder of this charge, $88.2, 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.

Business Segments

The global cost reduction plan charge recorded in 2009 was excluded from segment operating profit. The table below displays how this charge related to the businesses at the segment level:


	Severance and Other Benefits		Asset Impairments/ 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
2009 Charge		$210.0		$88.2		$298.2

During 2010, the Company revised its estimate of the costs associated with the 2009 global cost reduction plan. The unfavorable impact of additional severance and other benefits was primarily offset by favorable variances related to completed business exits and asset management actions. These adjustments to the charge were excluded from segment operating profit and did not have a material impact on any individual segment.

As of 30 September 2010, the planned actions associated with the global cost reduction plan were substantially completed with the exception of certain benefit payments associated with a small number of position eliminations. In addition, as part of the asset management actions included in the plan, the Company anticipates completing the sale of a facility by the end of calendar year 2010.

Accrual Balance

The following table summarizes changes to the carrying amount of the accrual for the global cost reduction plan:


	Severance and Other Benefits			Asset Impairments/ 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 items		(33.8	) ^(B)		(66.1	)		(99.9	)
Cash expenditures		(75.3	)		(.9	)		(76.2	)
Currency translation adjustment		4.3			—			4.3
30 September 2009		$105.2			$5.2			$110.4
Adjustment to charge		7.6			(6.6	)		1.0
Environmental charge ^(A)		—			1.5			1.5
Noncash items		(2.8	)^(B)		.1			(2.7	)
Cash expenditures		(102.8	)		(.2	)		(103.0	)
Currency translation adjustment		(5.3	)		—			(5.3	)
30 September 2010		$1.9			$—			$1.9

^(A)

Reflected in accrual for environmental obligations. See Note 17, Commitments and Contingencies.

^(B)

Primarily pension-related costs, which are reflected in the accrual for pension benefits.

Discontinued Operations

12 Months Ended

Sep. 30, 2010

Discontinued Operations

Discontinued Operations

6. Discontinued Operations

The U.S. Healthcare business, Polymer Emulsions business, and 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. The assets and liabilities of discontinued operations have been reclassified and are segregated in the consolidated balance sheets.

U.S. Healthcare

In 2007, the Company implemented several changes to improve performance in its U.S. Healthcare business, including management changes, product and service offering simplification, and other measures. However, market and competitive conditions were more challenging than anticipated and financial results did not meet expectations. In response to the disappointing financial results, during the third quarter of 2008, management conducted an evaluation of the strategic alternatives for the business. In July 2008, the Board of Directors authorized management to pursue the sale of this business. Accordingly, beginning in the fourth quarter of 2008, the U.S. Healthcare business was accounted for as discontinued operations.

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 this business as follows:

•

In the third quarter of 2008, the Company determined that an interim test for goodwill impairment and other long-lived assets was required for its U.S. Healthcare reporting unit. The Company reforecast its cash flows and utilized the expected present value of the future cash flows to calculate fair value of the U.S. Healthcare reporting unit in completing its impairment test. A charge of $314.8 ($237.0 after-tax, or $1.09 per share) consisted of the impairment of goodwill for $294.3, intangible assets for $11.7, plant and equipment for $7.8, and other assets for $1.0. The impairment reduced the carrying amount of the U.S. Healthcare reporting unit goodwill and intangible assets to zero.

•

In the fourth quarter of 2008, the Company recorded a charge of $14.4 ($9.2 after-tax, or $.04 per share), reflecting an estimate of net realizable value.

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 that 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.

During the fourth quarter of 2009, through a series of transactions with Rotech Healthcare, Inc. and with LMI, the Company sold its remaining U.S. Healthcare business for cash proceeds of $12.1. A net after-tax loss of $.7 was recognized. These transactions completed the disposal of the U.S. Healthcare business.

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


	2010		2009			2008
Sales		$—		$125.2			$239.8

Loss before taxes		$—		$(5.5	)		$(350.6	)
Income tax benefit		—		(2.1	)		(91.2	)
Loss from operations of discontinued operations		—		(3.4	)		(259.4	)
Loss on sale of businesses and impairment/write-down to estimated net realizable value, net of tax		—		(5.5	)		(8.7	)
Loss from Discontinued Operations, net of tax		$—		$(8.9	)		$(268.1	)

The assets and liabilities classified as discontinued operations for the U.S. Healthcare business at 30 September 2009 were $5.0 and $14.4, respectively. Remaining assets and liabilities associated with the U.S. Healthcare divestiture at 30 September 2010 are not material and have been classified in continuing operations.

Polymer Emulsions Business

On 31 January 2008, the Company closed on the sale of its interest in its vinyl acetate ethylene (VAE) polymers joint ventures to Wacker Chemie AG, its long-time joint venture partner. As part of that agreement, the Company received Wacker Chemie AG's interest in the Elkton, Md. and Piedmont, S.C. production facilities and their related businesses plus cash proceeds of $258.2. The Company recognized a gain of $89.5 ($57.7 after-tax, or $.26 per share) in the second quarter of 2008 for this sale, which consisted of the global VAE polymers operations, including production facilities located in Calvert City, Ky.; South Brunswick, N.J.; Cologne, Germany; and Ulsan, Korea; and commercial and research capabilities in Allentown, Pa. and Burghausen, Germany. The business produces VAE for use in adhesives, paints and coatings, paper, and carpet applications.

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. for $92.0. The Company recorded a gain of $30.5 ($18.5 after-tax, or $.08 per share) in connection with the sale, which included the recording of a retained environmental obligation of $24.0 ($14.5 after-tax, or $.07 per share) associated with the Piedmont site. Refer to Note 17, Commitments and Contingencies, for additional information on this charge. 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 classified as discontinued operations are summarized below:


	2010		2009		2008
Sales		$—		$—		$261.4

Income before taxes		$—		$—		$26.3
Income tax provision		—		—		9.6
Income from operations of discontinued operations		—		—		16.7
Gain on sale of business, net of tax		—		.3		76.2
Income from discontinued operations, net of tax		—		.3		92.9
Less: Income from discontinued operations attributable to noncontrolling interests, net of tax		—		—		5.4
Income from Discontinued Operations Attributable to Air Products, net of tax		$—		$.3		$87.5

There were no assets and liabilities classified as discontinued operations for the Polymer Emulsions business at 30 September 2010 and 2009.

HPPC Business

In October 2007, the Company executed an agreement of sale with KMG Chemicals, Inc. for its HPPC business. This business consisted of the development, manufacture, and supply of high-purity process chemicals used in the fabrication of integrated circuits in the United States and Europe. The sale closed on 31 December 2007 for cash proceeds of $69.3.

The operating results of the HPPC business classified as discontinued operations are summarized below:


	2010		2009		2008
Sales		$—		$—		$22.9

Income before taxes		$—		$—		$.1
Income tax provision		—		—		—
Income from operations of discontinued operations		—		—		.1
Loss on sale of business, net of tax		—		—		(.3	)
Loss from Discontinued Operations, net of tax		$—		$—		$(.2	)

There were no assets and liabilities classified as discontinued operations for the HPPC business at 30 September 2010 and 2009.

Total Discontinued Operations

The operating results on a combined basis of the U.S. Healthcare, Polymers Emulsions, and HPPC businesses classified as discontinued operations are summarized below:


	2010		2009			2008
Sales		$—		$125.2			$524.1

Loss before taxes		$—		$(5.5	)		$(324.2	)
Income tax benefit		—		(2.1	)		(81.6	)
Loss from operations of discontinued operations		—		(3.4	)		(242.6	)
Gain (loss) on sale of businesses and impairment/write-down to estimated net realizable value, net of tax		—		(5.2	)		67.2
Loss from discontinued operations, net of tax		—		(8.6	)		(175.4	)
Less: Income from discontinued operations attributable to noncontrolling interests, net of tax		—		—			5.4
Loss from Discontinued Operations Attributable to Air Products, net of tax		$—		$(8.6	)		$(180.8	)

Inventories

12 Months Ended

Sep. 30, 2010

Inventories

Inventories

7. Inventories

The components of inventories are as follows:


30 September	2010			2009
Inventories at FIFO cost
Finished goods		$405.3			$405.5
Work in process		29.3			20.9
Raw materials and supplies		208.2			151.1
		642.8			577.5
Less: Excess of FIFO cost over LIFO cost		(71.2	)		(67.9	)
		$571.6			$509.6

Inventories valued using the LIFO method comprised 40.5% of consolidated inventories before LIFO adjustment at both 30 September 2010 and 2009. Liquidation of LIFO inventory layers in 2010 and 2008 did not materially affect results of operations in those years. During 2009, there was no liquidation of prior years' LIFO inventory layers.

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.

Summarized Financial Information of Equity Affiliates

12 Months Ended

Sep. 30, 2010

Summarized Financial Information of Equity Affiliates

Summarized Financial Information of Equity Affiliates

8. Summarized Financial Information of Equity Affiliates

The following table presents summarized financial information on a combined 100% basis of the principal companies accounted for by the equity method. Amounts presented include the accounts of the following equity affiliates.


Air Products South Africa (50%);		INOX Air Products Limited (INOX) (50%);
Bangkok Cogeneration Company Limited (49%);		Kulim Industrial Gases Sdn. Bhd (50%);
Bangkok Industrial Gases Company Ltd. (49%);		Sapio Produzione Idrogeno Ossigeno S.r.l. (49%);
Chengdu Air & Gas Products Ltd. (50%);		SembCorp Air Products (HyCO) Pte. Ltd. (40%);
Daido Air Products Electronics, Inc. (20%);		Tecnologia en Nitrogeno S. de R.L. de C.V. (50%);
DuPont Air Products Nanomaterials, LLC (50%);		Tyczka Industrie-Gases GmbH (50%);
Helap S.A. (50%);		WuXi Hi-Tech Gas Co., Ltd. (50%);
High-Tech Gases (Beijing) Co., Ltd. (50%);		and principally, other industrial gas producers.
INFRA Group (40%);


	2010		2009
Current assets		$1,133.4		$1,185.2
Noncurrent assets		2,071.6		1,916.9
Current liabilities		788.9		714.5
Noncurrent liabilities		559.9		677.3
Net sales		2,293.4		2,129.7
Sales less cost of sales		964.4		874.4
Net income		293.0		257.7

Dividends received from equity affiliates were $75.4, $52.9, and $65.3 in 2010, 2009, and 2008, respectively.

The investment in net assets of and advances to equity affiliates as of 30 September 2010 and 2009 included investment in foreign affiliates of $877.7 and $834.7, respectively.

As of 30 September 2010 and 2009, the amount of investment in companies accounted for by the equity method included goodwill in the amount of $60.2 and $56.1, respectively.

Plant and Equipment

12 Months Ended

Sep. 30, 2010

Plant and Equipment

Plant and Equipment

9. Plant and Equipment

The major classes of plant and equipment, at cost, are as follows:


30 September	2010		2009
Land		$172.3		$169.4
Buildings		886.2		875.5
Production facilities
Merchant Gases		3,346.3		3,071.0
Tonnage Gases		5,691.4		5,441.7
Electronics and Performance Materials		2,061.2		1,907.6
Equipment and Energy		296.5		286.8
Total production facilities		11,395.4		10,707.1
Distribution equipment		2,918.6		2,802.5
Other machinery and equipment		248.0		273.1
Construction in progress		689.2		923.7
		$16,309.7		$15,751.3

Depreciation expense was $837.7, $815.9, and $848.0, in 2010, 2009, and 2008, respectively.

Goodwill

12 Months Ended

Sep. 30, 2010

Goodwill

Goodwill

10. Goodwill

Changes to the carrying amount of consolidated goodwill by segment are as follows:


30 September	2009		Acquisitions and Adjustments			Currency Translation and Other			2010
Merchant Gases		$601.3		$19.1			$(24.7	)		$595.7
Tonnage Gases		16.3		(.9	)		.1			15.5
Electronics and Performance Materials		298.4		.3			4.7			303.4
		$916.0		$18.5			$(19.9	)		$914.6

30 September	2008		Acquisitions and Adjustments			Currency Translation and Other			2009
Merchant Gases		$626.5		$1.9			$(27.1	)		$601.3
Tonnage Gases		18.0		—			(1.7	)		16.3
Electronics and Performance Materials		283.6		10.0			4.8			298.4
		$928.1		$11.9			$(24.0	)		$916.0

Acquisitions and adjustments related to the Merchant Gases segment in 2010 included $35.0 associated with the SAGA acquisition, offset by a reduction in goodwill for an adjustment related to a previous acquisition of $16.9. Refer to Note 4, Business Combinations, for further detail on the SAGA acquisition.

In the fourth quarter of 2010, the Company conducted the required annual test of goodwill for impairment. The Company determined that the fair value of each of the reporting units substantially exceeded its carrying value, and therefore there were no indications of impairment.

Intangible Assets

12 Months Ended

Sep. 30, 2010

Intangible Assets

Intangible Assets

11. Intangible Assets

The table below provides details of acquired intangible assets at 30 September 2010 and 2009:


	30 September 2010							30 September 2009
	Gross		Accumulated Amortization			Net		Gross		Accumulated Amortization			Net
Customer relationships		$283.3		$(62.7	)		$220.6		$250.0		$(51.4	)		$198.6
Patents and technology		99.0		(73.6	)		25.4		107.3		(69.0	)		38.3
Other		73.3		(33.6	)		39.7		49.5		(23.8	)		25.7
		$455.6		$(169.9	)		$285.7		$406.8		$(144.2	)		$262.6

Amortization expense for intangible assets was $25.7, $24.4, and $21.0 in 2010, 2009, and 2008, respectively.

Projected annual amortization expense for intangible assets as of 30 September 2010 is as follows:


2011			$21.1
2012			18.9
2013			18.4
2014			17.7
2015			17.3
Thereafter			192.3
			$285.7

Leases

12 Months Ended

Sep. 30, 2010

Leases

Leases

12. Leases

Lessee Accounting

Capital leases, primarily for the right to use machinery and equipment, are included with owned plant and equipment on the consolidated balance sheet in the amount of $18.2 and $27.3 at 30 September 2010 and 2009, respectively. Related amounts of accumulated depreciation are $12.1 and $17.5, respectively.

Operating leases principally relate to real estate and also include aircraft, distribution equipment, and vehicles. Certain leases include escalation clauses, renewal, and/or purchase options. Rent expense is recognized on a straight-line basis over the minimum lease term. Rent expense under operating leases, including month-to-month agreements, was $93.0 in 2010, $89.9 in 2009, and $97.2 in 2008.

At 30 September 2010, minimum payments due under leases are as follows:


	Capital Leases		Operating Leases
2011		$1.8		$50.1
2012		1.8		38.3
2013		1.7		27.6
2014		1.5		17.7
2015		1.5		13.5
Thereafter		2.8		42.7
		$11.1		$189.9

The present value of the above future capital lease payments is included in the liability section of the consolidated balance sheet. At 30 September 2010, $1.4 was classified as current and $8.4 as long-term. At 30 September 2009, the present value of the future capital lease payments was $8.9, of which $2.7 was classified as current and $6.2 as long-term.

Lessor Accounting

As discussed under Revenue Recognition in Note 1, Major Accounting Policies, certain contracts associated with facilities that are built to provide product to a specific customer are required to be accounted for as leases. Lease receivables, net, were included principally in noncurrent capital lease receivables on the Company's consolidated balance sheets. The components of lease receivables were as follows:


30 September	2010			2009
Gross minimum lease payments receivable		$1,195.5			$1,068.9
Unearned interest income		(386.0	)		(349.3	)
Net Lease Receivable		$809.5			$719.6

Lease payments collected in 2010, 2009, and 2008 were $68.0, $53.6, and $33.7, respectively.

At 30 September 2010, minimum lease payments to be collected are as follows:


2011			$93.2
2012			95.6
2013			93.9
2014			92.3
2015			90.0
Thereafter			730.5
			$1,195.5

Financial Instruments

12 Months Ended

Sep. 30, 2010

Financial Instruments

Financial Instruments

13. 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 volatility to changes in currency exchange rates. This is accomplished by identifying and evaluating the risk that the Company's cash flows will change in value due to changes in exchange rates and by executing 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 primary currency pair in this portfolio of forward contracts is the Euro/U.S. Dollar.

In addition to the foreign exchange contracts that are designated as hedges, the Company also hedges foreign currency exposures utilizing forward exchange contracts that are not designated as hedges. These contracts are used to hedge foreign currency-denominated monetary assets and liabilities, primarily 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. This portfolio of forward exchange contracts comprise many different foreign currency pairs, with a profile that changes from time to time depending on business activity and sourcing decisions.

Option Contracts

In certain limited situations, the Company enters into option contracts to manage cash flow exposures to foreign currency fluctuations. Similar to forward contracts, these instruments are evaluated for hedge accounting treatment and are recognized on the consolidated balance sheet at fair value. As of 30 September 2010 and 2009, there were no outstanding option contracts.

The table below summarizes the Company's outstanding currency price risk management instruments:


	2010				2009
30 September	US$ Notional		Years Average Maturity		US$ Notional		Years Average Maturity
Forward Exchange Contracts
Cash flow hedges		$1,605.5		.5		$1,620.7		.8
Net investment hedges		648.5		3.0		873.6		3.5
Fair value hedges		-		-		2.7		.4
Hedges not designated		373.6		.2		508.9		.6
Total Forward Exchange Contracts		$2,627.6		1.1		$3,005.9		1.6

In addition to the above, the Company uses foreign currency denominated debt and qualifying intercompany loans to hedge the foreign currency exposures of the Company's net investment in certain foreign affiliates. The designated foreign currency denominated debt at 30 September 2010 includes € 782.1 and NT$967.0, and at 30 September 2009 includes € 1,013.0 and NT$965.0. The designated intercompany loans include € 437.0 at both 30 September 2010 and 2009.

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. The current interest rate swap portfolio consists of fixed-to-floating swaps denominated in U.S. dollars and in Euros. In addition, the Company 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 interest rate swaps are used, the 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 enters into cross currency interest rate swap contracts when the Company deems necessary. 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 long-term intercompany and third-party borrowing transactions and certain net investments in foreign operations. The current cross currency swap portfolio consists of a single fixed-to-fixed swap between U.S. dollars and British Pound Sterling.

The following table summarizes the Company's outstanding interest rate swaps and cross currency interest rate swaps:

30 September 2010

30 September 2009

US$
Notional

Pay %

Average
Receive %

Years
Average
Maturity

US$
Notional

Pay %

Average
Receive %

Years
Average
Maturity

Interest rate swaps (fair value hedge)

$617.0

LIBOR

3.66%

3.8

$327.2

LIBOR

4.47%

1.7

Cross currency interest rate swaps
(net investment hedge)

$32.2

5.54%

5.48%

3.5

$32.2

5.54%

5.48%

4.5

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. As of 30 September 2010, the Company did not have outstanding commodity swap contracts. At 30 September 2009, the Company had outstanding energy contracts with a notional value of $18.5 and an average maturity of .2 years.

The table below summarizes the fair value and balance sheet location of the Company's outstanding derivatives:

30 September
2010

30 September
2009

30 September

2010

30 September
2009

Balance Sheet
Location

Fair

Value

Fair

Value

Balance Sheet
Location

Fair

Value

Fair

Value

Derivatives Designated as Hedging Instruments

Foreign exchange contracts

Other receivables

$29.8

$37.5

Accrued liabilities

$22.3

$43.8

Interest rate swap contracts

Other receivables

6.6

—

Accrued liabilities

1.3

Commodity swap contracts

Other receivables

—

4.3

Accrued liabilities

—

2.4

Foreign exchange contracts

Other noncurrent

assets

38.7

6.8

Other noncurrent

liabilities

19.9

42.2

Interest rate swap contracts

Other noncurrent
assets

33.1

15.1

Other noncurrent
liabilities

2.4

3.0

Total Derivatives Designated as Hedging Instruments

$108.2

$63.7

$45.9

$91.8

Derivatives Not Designated as Hedging Instruments

Foreign exchange contracts

Other receivables

$6.2

$12.3

Accrued liabilities

$8.3

$14.7

Foreign exchange contracts

Other noncurrent
assets

—

3.2

Other noncurrent
liabilities

—

3.2

Derivatives Not Designated as Hedging Instruments

$6.2

$15.5

$8.3

$17.9

Total Derivatives

$114.4

$79.2

$54.2

$109.7

Refer to Note 14, Fair Value Measurements, which defines fair value, describes the method for measuring fair value, and provides additional disclosures regarding fair value measurements.

The table below summarizes the gain or loss related to the Company's cash flow, net investment, and non-designated hedges. The amounts of gain or loss associated with the outstanding fair value hedges are not material.


	Year Ended 30 September
	Forward Exchange Contracts						Foreign Currency Debt					Other ^(A)						Total
	2010			2009			2010			2009		2010			2009			2010			2009
Cash Flow Hedges
Net (gain) loss recognized in OCI (effective portion)		$11.3			$7.2			$—			$—		$.3			$(2.7	)		$11.6			$4.5
Net gain (loss) reclassified from OCI to sales/cost of sales (effective portion)		(10.8	)		(4.1	)		—			—		2.0			5.3			(8.8	)		1.2
Net gain (loss) reclassified from OCI to other (income) expense (effective portion)		(6.2	)		(1.0	)		—			—		—			—			(6.2	)		(1.0	)
Net gain (loss) reclassified from OCI to other (income) expense (ineffective portion)		.2			.5			—			—		—			—			.2			.5
Net Investment Hedges Net (gain) loss recognized in OCI		$(58.4	)		$27.1			$(109.8	)		$52.0		$(.4	)		$(2.4	)		$(168.6	)		$76.7
Derivatives Not Designated as Hedging Instruments Net (gain) loss recognized in other (income) expense^(B)		$24.7			14.5			$—			$—		$—			$—			$24.7			$14.5

^(A)

Other includes the impact on other comprehensive income (OCI) and earnings related to commodity swap contracts and interest rate swaps.

^(B)

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 nonfunctional currencies.

Credit Risk-Related Contingent Features

Certain derivative instruments are executed under agreements that require the Company to maintain a minimum credit rating opinion from a third party. If the Company's credit rating falls below this threshold, 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 $4.2 as of 30 September 2010 and $35.0 as of 30 September 2009. Because the Company's current credit rating is above the various pre-established thresholds, 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, 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 the pre-established thresholds. These are the same agreements referenced in Credit Risk-Related Contingent Features above. The collateral that the counterparties would be required to post was $52.2 as of 30 September 2010 and $14.7 as of 30 September 2009. No financial institution is required to post collateral at this time, as all have credit ratings at or above the threshold.

Fair Value Measurements

12 Months Ended

Sep. 30, 2010

Fair Value Measurements

Fair Value Measurements

14. Fair Value Measurements

Fair value is defined 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). The methods and assumptions used to measure the fair value of financial instruments are as follows:

Derivatives

The fair value of the Company's interest rate swap agreements and foreign exchange contracts are quantified using the income approach and are based on estimates using standard pricing models. These models take into account the value of future cash flows as of the balance sheet date, discounted to a present value using discount factors that match both the time to maturity and currency of the underlying instruments. 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 transaction's counterparty 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.

Refer to Note 13, Financial Instruments, for a description of derivative instruments, including details on the balance sheet line classifications.

Available-for-Sale Securities

The fair value of available-for-sale securities is based on a market approach, specifically quoted market prices in publicly traded companies from the New York Stock Exchange, NASDAQ, and Tokyo Stock Exchange. These investments are reported within other noncurrent assets on the consolidated balance sheet, with holding gains and losses recorded to OCI, net of tax.

The available-for-sale securities primarily include the investment in Airgas stock of $102.5. At 30 September 2010, the change in unrealized appreciation of this investment carried at fair value was $32.9 ($20.6 after-tax). Refer to Note 3, Airgas Transaction, for further detail.

Other investments primarily included an investment in a publicly traded foreign company. In July 2010, the Company donated 92% of this investment to a tax-exempt charitable organization and sold 8% of its investment for cash. The carrying value of this investment at the time of the transactions was $17.2. The Company will deduct the fair value of the donation in its fiscal 2010 income tax returns. As a result of the donation, the Company recognized a tax benefit of $5.8 in the fourth quarter of 2010. The combined donation and sale had an immaterial impact on operating income.

Long-term Debt

The fair value of the Company's debt is based on estimates using standard pricing models that take into account the value of future cash flows as of the balance sheet date, discounted to a present value using discount factors that match both the time to maturity and currency of the underlying instruments. These standard valuation models utilize observable market data such as interest rate yield curves and currency spot rates. The computation of the fair value of these instruments is generally performed by the Company.

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


30 September	2010				2009
	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets
Derivatives
Foreign exchange contracts		$74.7		$74.7		$59.8		$59.8
Interest rate swap contracts		39.7		39.7		15.1		15.1
Commodity swap contracts		—		—		4.3		4.3
Available-for-sale securities
Airgas investment		102.5		102.5		—		—
Other investments		1.1		1.1		19.4		19.4
Liabilities
Derivatives
Foreign exchange contracts		$50.5		$50.5		$103.9		$103.9
Interest rate swap contracts		3.7		3.7		3.4		3.4
Commodity swap contracts		—		—		2.4		2.4
Long-term debt, including current portion		3,842.3		4,146.4		4,167.7		4,479.5

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.

The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three broad levels as follows:

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 sheets:


	30 September 2010								30 September 2009
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Assets at Fair Value
Derivatives
Foreign exchange contracts		$74.7		$—		$74.7		$—		$59.8		$—		$59.8		$—
Interest rate swap contracts		39.7		—		39.7		—		15.1		—		15.1		—
Commodity swap contracts		—		—		—		—		4.3		—		4.3		—
Available-for-sale securities
Airgas investment		102.5		102.5		—		—		—		—		—		—
Other investments		1.1		1.1		—		—		19.4		19.4		—		—
Total Assets at Fair Value		$218.0		$103.6		$114.4		$—		$98.6		$19.4		$79.2		$—

Liabilities at Fair Value
Derivatives
Foreign exchange contracts		$50.5		$—		$50.5		$—		$103.9		$—		$103.9		$—
Interest rate swap contracts		3.7		—		3.7		—		3.4		—		3.4		—
Commodity swap contracts		—		—		—		—		2.4		—		2.4		—
Total Liabilities at Fair Value		$54.2		$—		$54.2		$—		$109.7		$—		$109.7		$—

Debt

12 Months Ended

Sep. 30, 2010

Debt

Debt

15. Debt

The tables below summarize the Company's outstanding debt at 30 September 2010 and 2009:

Total Debt


30 September	2010		2009
Short-term borrowings		$286.0		$333.8
Current portion of long-term debt		182.5		452.1
Long-term debt		3,659.8		3,715.6
Total Debt		$4,128.3		$4,501.5

Short-term Borrowings

30 September	2010		2009
Bank obligations		$225.1		$333.8
Short-term borrowings associated with SAGA acquisition		60.9		—
Total Short-term Borrowings		$286.0		$333.8

The weighted average interest rate of short-term borrowings outstanding at 30 September 2010 and 2009 was 3.2% and 3.9%, respectively.

Long-term Debt


30 September	Maturities		2010			2009
Payable in U.S. Dollars
Debentures
8.75%		2021		$18.4			$18.4
Medium-term Notes
Weighted average rate
Series D 6.8%		2011 to 2016		63.1			63.1
Series E 7.6%		2026		17.2			17.2
Series F 6.2%		2010		—			50.0
Series G 4.1%		2011		125.0			125.0
Senior Notes
Note 4.15%		2013		300.0			300.0
Note 4.375%		2019		400.0			400.0
Other
Weighted average rate
Variable-rate industrial revenue bonds 0.5%		2016 to 2050		975.1			902.1
Other 2.3%		2013 to 2019		55.1			70.7
Payable in Other Currencies
Eurobonds 1.2% (floating rate)		2010		—			365.5
Eurobonds 4.25%		2012		408.1			438.5
Eurobonds 3.75%		2014		408.1			438.5
Eurobonds 3.875%		2015		408.1			438.5
Eurobonds 4.625%		2017		408.1			438.5
Other 5.0%		2011 to 2018		255.3			105.5
Capital Lease Obligations
United States 5.0%		2011 to 2018		5.5			6.1
Foreign 5.1%		2011 to 2013		4.3			2.8
Less: Unamortized Discount				(9.1	)		(12.7	)
				3,842.3			4,167.7
Less: Current Portion				(182.5	)		(452.1	)
Total Long-term Debt				$3,659.8			$3,715.6

Maturities of long-term debt in each of the next five years and beyond are as follows: $182.5 in 2011, $452.8 in 2012, $334.7 in 2013, $488.3 in 2014, $444.3 in 2015, and $1,939.7 thereafter.

During 2010, the Company issued Industrial Revenue Bonds totaling $85.0, the proceeds of which must be held in escrow until related project spending occurs. As of 30 September 2010, proceeds of $51.2 were held in escrow and classified as a noncurrent asset.

In February 2010, the Company commenced a tender offer to acquire all outstanding common stock of Airgas as further discussed in Note 3, Airgas Transaction. In connection with this tender offer, the Company has secured committed financing in the form of a $6.7 billion term loan credit facility. Borrowings under this credit facility will be available beginning on the date of the consummation of the tender offer, which must occur no later than 4 February 2011. All borrowings under this credit facility will mature on the date that is one year from the consummation of the tender offer. The credit facility agreement contains one financial covenant, a maximum leverage ratio, and other affirmative and negative covenants, including restrictions on liens and certain subsidiary indebtedness. It also requires mandatory commitment reduction/prepayment for certain capital market transactions and asset dispositions. Fees incurred to secure this credit facility have been deferred and are being amortized over the term of the arrangement.

The Company has obtained the commitment of a number of commercial banks to lend money at market rates whenever needed. At 30 September 2009, the Company's total multicurrency committed credit facility amounted to $1,450.0. On 8 July 2010, the Company replaced this facility with a new $2,000.0 multicurrency committed credit facility maturing on 8 July 2013. Facility fees were modified to reflect current market rates. The Company has one financial covenant associated with this new credit facility. The covenant indicates that the ratio of total debt to earnings before interest, taxes, depreciation, and amortization (EBITDA) shall not exceed 3.0. This credit facility provides a source of liquidity and is used to support the issuance of commercial paper. No borrowings were outstanding under this commitment at the end of 2010. Additional commitments totaling $518.7 are maintained by the Company's foreign subsidiaries, of which $345.2 was borrowed and outstanding at 30 September 2010.

Various debt agreements to which the Company is a party also include financial covenants and other restrictions, including restrictions pertaining to the ability to create property liens and enter into certain sale and leaseback transactions. The Company is in compliance with all of its financial debt covenants.

Retirement Benefits

12 Months Ended

Sep. 30, 2010

Retirement Benefits

Retirement Benefits

16. Retirement Benefits

The Company and certain of its subsidiaries sponsor defined benefit pension plans and defined contribution plans that cover a substantial portion of its worldwide employees. The principal defined benefit pension plans are the U.S. salaried pension plan and the U.K. pension plan. These plans were closed to new participants in 2005 and were replaced with defined contribution plans. The principal defined contribution plan is the Retirement Savings Plan, in which a substantial portion of the U.S. employees participate; a similar plan is offered to U.K. employees. The Company also provides other postretirement benefits consisting primarily of healthcare benefits to U.S. retirees who meet age and service requirements.

Defined Benefit Pension Plans

Pension benefits earned are generally based on years of service and compensation during active employment. The cost of the Company's defined benefit pension plans included the following components:


	2010						2009						2008
	U.S.			International			U.S.			International			U.S.			International
Service cost		$42.5			$24.2			$33.9			$26.6			$42.3			$35.4
Interest cost		123.4			60.2			124.0			60.9			117.6			63.3
Expected return on plan assets		(164.3	)		(64.3	)		(146.5	)		(55.3	)		(143.2	)		(63.6	)
Amortization
Prior service cost		2.7			.7			2.6			1.3			1.9			1.3
Transition		—			—			—			—			—			.1
Actuarial loss		46.9			19.9			6.2			10.8			19.6			18.3
Settlements and curtailments		10.7			.8			9.7			4.8			29.9			.4
Special termination benefits		(.9	)		4.2			7.2			22.1			.1			1.1
Other		—			2.3			—			1.7			—			2.5
Net Periodic Pension Cost		$61.0			$48.0			$37.1			$72.9			$68.2			$58.8

The Company calculated net periodic pension cost for a given fiscal year based on assumptions developed at the end of the previous fiscal year. The following table sets forth the weighted average assumptions used in the calculation of net periodic pension cost:


	2010				2009				2008
	U.S.		International		U.S.		International		U.S.		International
Discount rate		5.7%		5.5%		7.6%		6.5%		6.4%		5.7%
Expected return on plan assets		8.8%		7.3%		8.8%		7.4%		9.5%		7.5%
Rate of compensation increase		4.3%		3.7%		4.3%		4.4%		4.5%		3.8%

The Company's U.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 the 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. The Company recognized $11.5, $10.7, and $30.3 of settlement charges in 2010, 2009, and 2008, respectively.

Special termination benefits for fiscal year 2010 included $2.8 for the global cost reduction plan. Special termination benefits for fiscal year 2009 included $28.5 for the global cost reduction plan. The global cost reduction charge for fiscal year 2009 also included $3.8 for curtailment losses related to the U.K. pension plans.

The projected benefit obligation (PBO) is the actuarial present value of benefits attributable to employee service rendered to date, including the effects of estimated future salary increases. The following table sets forth the weighted average assumptions used in the calculation of the PBO:

2010

2009

U.S.

International

U.S.

International

Discount rate

5.1%

4.9%

5.7%

5.5%

Rate of compensation increase

4.0%

3.8%

4.3%

3.7%

The following table reflects the change in the PBO and the change in the fair value of plan assets based on the plan year measurement date, as well as the amounts recognized in the consolidated balance sheets.


	2010						2009
	U.S.			International			U.S.			International
Change in Pension Benefit Obligation
Obligation at beginning of year		$2,210.5			$1,175.5			$1,638.7			$1,093.0
Measurement date change		—			—			—			(78.5	)
Service cost		42.5			24.2			33.9			26.6
Interest cost		123.4			60.2			124.0			60.9
Amendments		1.3			1.0			.9			.6
Actuarial loss		176.9			115.0			498.0			173.4
Special termination benefits, settlements, and curtailments		3.1			3.0			12.8			23.5
Participant contributions		—			4.1			—			4.6
Benefits paid		(111.5	)		(48.0	)		(97.8	)		(60.9	)
Currency translation/other		—			(27.6	)		—			(67.7	)
Obligation at End of Year		$2,446.2			$1,307.4			$2,210.5			$1,175.5

Change in Plan Assets
Fair value at beginning of year		$1,457.7			$793.3			$1,424.7			$793.5
Actual return on plan assets		153.5			77.7			9.4			41.6
Company contributions		227.5			179.1			121.4			63.4
Participant contributions		—			4.1			—			4.6
Benefits paid		(111.5	)		(48.0	)		(97.8	)		(60.9	)
Currency translation/other		—			(21.8	)		—			(48.9	)
Fair Value at End of Year		$1,727.2			$984.4			$1,457.7			$793.3

Funded Status at End of Year		$(719.0	)		$(323.0	)		$(752.8	)		$(382.2	)

Amounts Recognized
Noncurrent assets		$—			$—			$—			$8.4
Accrued liabilities		(178.2	)		(60.6	)		(210.5	)		(137.4	)
Noncurrent liabilities		(540.8	)		(262.4	)		(542.3	)		(253.2	)
Net Amount Recognized		$(719.0	)		$(323.0	)		$(752.8	)		$(382.2	)

The changes in plan assets and benefit obligation that have been recognized in AOCI on a pretax basis during 2010 and 2009 consist of the following:


	2010						2009
	U.S.			International			U.S.			International
Net actuarial loss arising during the period		$191.6			$103.2			$640.8			$148.2
Measurement date change		—			—			—			(49.8	)
Amortization of net actuarial loss		(57.6	)		(20.7	)		(15.9	)		(15.6	)
Prior service cost arising during the period		1.3			1.0			.8			.6
Amortization of prior service cost		(2.7	)		(.7	)		(2.6	)		(1.3	)
Total Recognized in AOCI		$132.6			$82.8			$623.1			$82.1

The net actuarial loss represents the actual changes in the estimated obligation and plan assets that have not yet been recognized in the consolidated income statement and are included in AOCI. Actuarial losses arising during 2010 and 2009 are primarily attributable to lower discount rates. In 2009, actual asset returns were also below expected returns. Actuarial gains and losses are not recognized immediately, but instead are accumulated as a part of the unrecognized net loss balance and amortized into net periodic pension cost over the average remaining service period of participating employees as certain thresholds are met.

The components recognized in AOCI on a pretax basis at 30 September consisted of:


	2010				2009
	U.S.		International		U.S.		International
Net actuarial loss		$1,110.9		$533.4		$976.9		$450.9
Prior service cost		16.9		7.1		18.3		6.8
Net transition liability		—		.4		—		.4
Total Recognized in AOCI		$1,127.8		$540.9		$995.2		$458.1

The amount of AOCI at 30 September 2010 that is expected to be recognized as a component of net periodic pension cost during fiscal year 2011 is as follows:


	U.S.		International
Net actuarial loss		$64.9		$29.4
Prior service cost		2.5		.6

The assets of the Company's defined benefit pension plans consist primarily of equity and fixed-income securities. Except where the Company's equity is a component of an index fund, the defined benefit plans are prohibited by Company policy from holding shares of Company stock.

Asset allocation targets are established based on the long-term return and volatility characteristics of the investment classes and recognize the benefit of diversification and the profiles of the plans' liabilities. The actual and target allocations at the measurement date are as follows:


	2010 Target Allocation						2010 Actual Allocation						2009 Actual Allocation
Asset Category	U.S.			International			U.S.			International			U.S.			International
Equity securities		60-80	%		53-62	%		70	%		55	%		68	%		56	%
Debt securities		20-30	%		36-45	%		25	%		38	%		26	%		39	%
Real estate/other		0-10	%		1-3	%		4	%		2	%		5	%		3	%
Cash		—			—			1	%		5	%		1	%		2	%
Total								100	%		100	%		100	%		100	%

The following table summarizes pension plan assets measured at fair value by asset class at 30 September 2010 (see Note 14, Fair Value Measurements, for definition of the levels):

Fair Value

Total

Level 1

Level 2

Level 3

U.S. Qualified Pension Plans

Cash and cash equivalents

$8.3

$—

Equity securities

551.1

—

Equity mutual funds

87.4

—

Equity pooled funds

573.1

—

573.1

—

Fixed Income

Bonds (government and corporate)

17.8

—

17.8

—

Mortgage and asset-backed securities

31.7

—

31.7

—

Mutual funds

50.6

—

Pooled funds

330.2

—

330.2

—

Real estate pooled funds

77.0

—

77.0

Total U.S. Qualified Pension Plans

$1,727.2

$697.4

$952.8

$77.0

International Pension Plans

Cash and cash equivalents

$46.5

$—

Equity pooled funds

538.3

—

538.3

—

Fixed income pooled funds

297.6

—

297.6

—

Other pooled funds

25.9

—

8.0

17.9

Insurance contracts

76.1

—

76.1

Total International Pension Plans

$984.4

$46.5

$843.9

$94.0

The following table summarizes changes in fair value of the pension plan assets classified as Level 3, by asset class, for the period ended 30 September 2010:


			Actual Return On Plan Assets
	Fair Value Beginning of Year		Assets Held End of year		Assets Sold During Period		Purchases, Sales, and Settlements, Net		Fair Value End of Year
U.S. Qualified Pension Plans
Real estate pooled funds		$72.7		$4.3		$—		$—		$77.0
Total U.S. Qualified Pension Plans		$72.7		$4.3		$—		$—		$77.0

International Pension Plans
Other pooled funds		$13.0		$.5		$.2		$4.2		$17.9
Insurance contracts		66.7		5.1		—		4.3		76.1
Total International Pension Plans		$79.7		$5.6		$.2		$8.5		$94.0

The descriptions and fair value methodologies for the U.S. and International pension plan assets are as follows:

Cash and Cash Equivalents

The carrying amounts of cash and cash equivalents approximate fair value due to the short-term maturity.

Equity Securities

Equity securities are valued at the closing market price reported on a U.S. exchange where the security is actively traded and are therefore classified as Level 1 assets.

Mutual Funds

Shares of mutual funds are valued at the net asset value (NAV) quoted on the exchange where the fund is traded and are classified as Level 1 assets. NAV is used as a practical expedient for fair value.

Pooled Funds

Units of pooled funds are valued at the per unit NAV determined by the fund manager and are classified as Level 2 assets. NAV is used as a practical expedient for fair value.

Corporate and Government Bonds

Corporate and government bonds are classified as Level 2 assets, as they are either valued at quoted market prices from observable pricing sources at the reporting date or valued based upon comparable securities with similar yields and credit ratings.

Mortgage and Asset-Backed Securities

Securities are classified as Level 2 assets, as they are either valued at quoted market prices from observable pricing sources at the reporting date or valued based upon comparable securities with similar yields, credit ratings, and purpose of the underlying loan.

Real Estate Pooled Funds

Funds are classified as Level 3 assets, as they are carried at the estimated fair value of the underlying properties. Estimated fair value is calculated utilizing a combination of key inputs such as revenue and expense growth rates, terminal capitalization rates, and discount rates. These key inputs are consistent with practices prevailing within the real estate investment management industry.

Other Pooled Funds

Securities classified as Level 2 assets are valued at the NAV of the shares held at year end, which is based on the fair value of the underlying investments. Securities and interests classified as Level 3 are carried at the estimated fair value. The estimated fair value is based on the fair value of the underlying investment values, which includes estimated bids from brokers or other third-party vendor sources that utilize expected cash flow streams and other un-corroborated data, including counterparty credit quality, default risk, discount rates and the overall capital market liquidity.

Insurance Contracts

Interests are classified as Level 3 assets, as they are carried at contract value, which approximates the estimated fair value. The estimated fair value is based on the fair value of the underlying investment of the insurance company.

The Company employs a mix of active and passive investment strategies. Over a full market cycle, the total return on plan assets is expected to exceed that of a passive strategy tracking index returns in each asset category.

The expected return on plan assets assumption is based on an estimated weighted average of long-term returns of major asset classes. In determining asset class returns, the Company takes into account long-term returns of major asset classes, historical performance of plan assets, and related value of active management, as well as the current interest rate environment.

The Company anticipates contributing approximately $247 to the defined benefit pension plans in 2011.

Projected benefit payments, which reflect expected future service, are as follows:


	U.S.		International
2011		$95.6		$43.3
2012		103.9		45.2
2013		110.4		48.7
2014		117.7		50.7
2015		125.7		52.3
2016–2020		760.6		285.8

These estimated benefit payments are based on assumptions about future events. Actual benefit payments may vary significantly from these estimates.

The accumulated benefit obligation (ABO) is the actuarial present value of benefits attributed to employee service rendered to a particular date, based on current salaries. The ABO for all defined benefit pension plans was $3,327.6 and $2,970.8 at the end of 2010 and 2009, respectively.

The following table provides information on pension plans where the PBO exceeds the value of plan assets at 30 September:

2010

2009

U.S.

International

U.S.

International

PBO

$2,446.2

$1,294.8

$2,210.5

$1,036.3

ABO

2,121.5

1,196.5

1,885.0

973.5

Plan assets

1,727.2

971.2

1,457.7

645.0

The following table provides information on pension plans where the ABO exceeds the value of plan assets at 30 September:

2010

2009

U.S.

International

U.S.

International

PBO

$2,446.2

$1,263.4

$2,210.5

$1,008.4

ABO

2,121.5

1,170.4

1,885.0

955.8

Plan assets

1,727.2

944.5

1,457.7

620.2

Included in the tables above are several pension arrangements that are not funded because of jurisdictional practice. The ABO and PBO related to these plans for 2010 were $118.0 and $159.3, respectively.

Defined Contribution Plans

The Company maintains a nonleveraged employee stock ownership plan (ESOP) which forms part of the Air Products and Chemicals, Inc. Retirement Savings Plan (RSP). The ESOP was established in May of 2002. The balance of the RSP is a qualified defined contribution plan including a 401(k) elective deferral component. A substantial portion of U.S. employees are eligible and participate.

Dividends paid on ESOP shares are treated as ordinary dividends by the Company. Under existing tax law, the Company may deduct dividends which are paid with respect to shares held by the plan. Shares of the Company's common stock in the ESOP totaled 5,276,922 as of 30 September 2010.

The Company matches a portion of the participants' contributions to the RSP and other various worldwide defined contribution plans. The Company's contributions to the RSP include a Company core contribution for certain eligible employees who do not receive their primary retirement benefit from the defined benefit pension plans, with the core contribution based on a percentage of pay that is dependent on years of service. For the RSP, the Company also makes matching contributions on overall employee contributions as a percentage of the employee contribution and includes an enhanced contribution for certain eligible employees (not participating in the defined benefit pension plans). Worldwide contributions expensed to income in 2010, 2009, and 2008 were $30.8, $30.6, and $30.1, respectively.

Other Postretirement Benefits

The Company provides other postretirement benefits consisting primarily of healthcare benefits to certain U.S. retirees who meet age and service requirements. The healthcare benefit is a continued medical benefit until the retiree reaches age 65. Healthcare benefits are contributory, with contribution percentages adjusted periodically. The retiree medical costs are capped at a specified dollar amount, with the retiree contributing the remainder.

The cost of the Company's other postretirement benefit plans included the following components:


	2010			2009			2008
Service cost		$4.7			$4.0			$5.9
Interest cost		4.6			6.5			5.8
Amortization
Prior service credit		(.1	)		(1.4	)		(1.4	)
Actuarial loss		2.9			.1			1.7
Net Periodic Postretirement Cost		$12.1			$9.2			$12.0

The Company calculates net periodic postretirement cost for a given fiscal year based on assumptions developed at the end of the previous fiscal year. The discount rate assumption used in the calculation of net periodic postretirement cost for 2010, 2009, and 2008 was 4.2%, 7.4%, and 5.7%, respectively.

The Company measures the other postretirement benefits as of 30 September. The discount rate assumption used in the calculation of the accumulated postretirement benefit obligation was 2.8% and 4.2% for 2010 and 2009, respectively.

The following table reflects the change in the accumulated postretirement benefit obligation and the amounts recognized in the consolidated balance sheets:


	2010			2009
Obligation at beginning of year		$116.0			$98.8
Service cost		4.7			4.0
Interest cost		4.6			6.5
Actuarial loss		7.8			18.7
Benefits paid		(12.2	)		(12.0	)
Obligation at End of Year		$120.9			$116.0

Amounts Recognized
Accrued liabilities		$13.7			$13.5
Noncurrent liabilities		107.2			102.5

The changes in benefit obligation that have been recognized in AOCI on a pretax basis during 2010 and 2009 for the Company's other postretirement benefit plans consist of the following:


	2010			2009
Net actuarial loss arising during the period		$7.8			$18.7
Amortization of net actuarial loss		(2.9	)		(.1	)
Amortization of prior service credit		.1			1.4
Total Recognized in AOCI		$5.0			$20.0

The components recognized in AOCI on a pretax basis at 30 September consisted of:


	2010		2009
Net actuarial loss		$35.5		$30.6
Prior service credit		—		(.1	)
Amount Recognized in AOCI		$35.5		30.5

Of the 30 September 2010 actuarial loss, it is estimated that $3.6 will be amortized into net periodic postretirement cost over fiscal year 2011.

The assumed healthcare trend rates are as follows:


	2010			2009
Healthcare trend rate		8.0	%		9.5	%
Ultimate trend rate		5.0	%		5.0	%
Year the ultimate trend rate is reached		2014			2014

The effect of a change in the healthcare trend rate is slightly tempered by a cap on the average retiree medical cost. The impact of a one percentage point change in the assumed healthcare cost trend rate on net periodic postretirement cost and the obligation is not material.

Projected benefit payments are as follows:


2011			$13.9
2012			13.6
2013			13.2
2014			12.9
2015			12.5
2016–2020			55.8

These estimated benefit payments are based on assumptions about future events. Actual benefit payments may vary significantly from these estimates.

Commitments and Contingencies

12 Months Ended

Sep. 30, 2010

Commitments and Contingencies

Commitments and Contingencies

17. Commitments and Contingencies

Litigation

The Company is involved in various legal proceedings, including competition, environmental, health, safety, product liability, and insurance matters. In September 2010, the Brazilian Administrative Council for Economic Defense (CADE) issued a decision against the Company's Brazilian subsidiary, Air Products Brasil Ltda., and several other Brazilian industrial gas companies for alleged anticompetitive activities. CADE imposed a civil fine of R$179.2 on Air Products Brasil Ltda. This fine was based on a recommendation by a unit of the Brazilian Ministry of Justice whose investigation began in 2003 alleging violation of competition laws with respect to the sale of industrial and medical gases. The fines are based on a percentage of the Company's total revenue in Brazil in 2003.

The Company has denied the allegations made by the authorities and filed an appeal in October 2010 to the Brazilian courts. Certain of the Company's defenses, if successful, could result in the matter being dismissed with no fine against the Company. The Company, with advice of its outside legal counsel, has assessed the status of this matter and has concluded that although an adverse final judgment after exhausting all appeals is reasonably possible, such a judgment is not probable. As a result, no provision has been made in the consolidated financial statements.

The Company is required to provide security in order to suspend execution of the judgment during the appeal process, during which time interest will accrue on the fine. The security could be in the form of a bank guarantee or in other forms which the courts deem acceptable. The security is only collectible by the courts in the event the Company is not successful in its appeal and does not timely pay the fine. The form of security to be provided by the Company has not been finally determined.

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

In the normal course of business, the Company is involved in legal proceedings under the federal Superfund law, similar state environmental laws, and RCRA relating to the designation of certain sites for investigation or remediation. Presently, there are approximately 30 sites on which a final settlement has not been reached where the Company, along with others, has been designated a potentially responsible party by the Environmental Protection Agency or is otherwise engaged in investigation or remediation. In addition, the Company is also involved in cleanup activities at certain of its current and former manufacturing sites. The Company continually monitors these sites for which it has environmental exposure.

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 consistent with the policy set forth in Note 1, Major Accounting Policies. The consolidated balance sheets at 30 September 2010 and 2009 included an accrual of $87.0 and $95.0, 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 $87 to a reasonably possible upper exposure of $101 as of 30 September 2010.

Actual costs to be incurred at identified sites in future periods may vary from the estimates, given inherent uncertainties in evaluating environmental exposures. Using reasonably possible alternative assumptions of the exposure level could result in an increase to the environmental accrual. Due to the inherent uncertainties related to environmental exposures, a significant increase to the reasonably possible upper exposure level could occur if a new site is designated, the scope of remediation is increased, a different remediation alternative is identified, or a significant increase in the Company's proportionate share occurs. The Company does not expect that any sum it may have to pay in connection with environmental matters in excess of the amounts recorded or disclosed above would have a material adverse impact on its financial position or results of operations in any one year.

PACE

At 30 September 2010, $36.5 of the environmental accrual was related to the Pace facility.

In 2006, the Company sold its Amines business, which included operations at Pace, Florida and recognized a liability for retained environmental obligations associated with remediation activities at Pace. The Company is required by the Florida Department of Environmental Protection (FDEP) and the United States Environmental Protection Agency (USEPA) to continue its remediation efforts. The Company estimated that it would take about 20 years to complete the groundwater remediation, and the costs through completion were estimated to range from $42 to $50. As no amount within the range was a better estimate than another, the Company recognized a pretax expense in fiscal 2006 of $42.0 as a component of income from discontinued operations and recorded an environmental accrual of $42.0 in continuing operations on the consolidated balance sheets. There has been no change to the estimated exposure range related to the Pace facility.

The Company has implemented many of the remedial corrective measures at the Pace, Florida facility required under 1995 Consent Orders issued by the FDEP and the USEPA. Contaminated soils have been bioremediated, and the treated soils have been secured in a lined on-site disposal cell. Several groundwater recovery systems have been installed to contain and remove contamination from groundwater. The Company completed an extensive assessment of the site to determine how well existing measures are working, what additional corrective measures may be needed, and whether newer remediation technologies that were not available in the 1990s might be suitable to more quickly and effectively remove groundwater contaminants. Based on assessment results, the Company completed a focused feasibility study that identified new and alternative approaches which should more effectively remove contaminants and achieve the targeted remediation goals. The Company is reviewing the new approaches with the FDEP.

PIEDMONT

At 30 September 2010, $21.5 of the environmental accrual was related to the Piedmont site.

On 30 June 2008, the Company sold its Elkton, Maryland and Piedmont, South Carolina production facilities and the related North American atmospheric emulsions and global pressure sensitive adhesives businesses. In connection with the sale, the Company recognized a liability for retained environmental obligations associated with remediation activities at the Piedmont site. This site is under active remediation for contamination caused by an insolvent prior owner. The sale of the site triggered expense recognition. Prior to the sale, remediation costs had been capitalized since they improved the property as compared to its condition when originally acquired. The Company is required by the South Carolina Department of Health and Environmental Control to address both contaminated soil and groundwater. Numerous areas of soil contamination have been addressed, and contaminated groundwater is being recovered and treated. The Company estimated that it would take until 2015 to complete source area remediation and another 15 years thereafter to complete groundwater recovery, with costs through completion estimated to be $24.0. The Company recognized a pretax expense in 2008 of $24.0 as a component of income from discontinued operations and recorded an environmental liability of $24.0 in continuing operations on the consolidated balance sheets. There has been no change to the estimated exposure.

PAULSBORO

At 30 September 2010, $14.0 of the environmental accrual was related to the Paulsboro site.

During the first quarter of 2009, management committed to a plan to sell the production facility in Paulsboro, New Jersey and recognized a $16.0 environmental liability associated with this site. In December 2009, the Company completed the sale of this facility. The Company is required by the New Jersey state law to investigate and, if contaminated, remediate a site upon its sale. The Company estimates that it will take at least several years to complete the investigation/remediation efforts at this site.

Guarantees and Warranties

The Company is a party to certain guarantee agreements, including debt guarantees of equity affiliates and equity support agreements. These guarantees are contingent commitments that are related to activities of the Company's primary businesses.

The Company has guaranteed repayment of some additional borrowings of certain unconsolidated equity affiliates. At 30 September 2010, these guarantees have terms in the range of two to eight years, with maximum potential payments of $28.7.

The Company has entered into an equity support agreement and operations guarantee related to an air separation facility constructed in Trinidad for a venture in which the Company owns 50%. At 30 September 2010, maximum potential payments under joint and several guarantees were $68.0. Exposures under the guarantee decline over time and are completely extinguished by 2024.

To date, no equity contributions or payments have been required since the inception of these guarantees. The fair value of the above guarantees is not material.

The Company, in the normal course of business operations, has issued product warranties in its Equipment business. Also, contracts often contain standard terms and conditions which typically include a warranty and indemnification to the buyer that the goods and services purchased do not infringe on third-party intellectual property rights. The provision for estimated future costs relating to warranties is not material to the consolidated financial statements.

The Company does not expect that any sum it may have to pay in connection with guarantees and warranties will have a materially adverse effect on its consolidated financial condition, liquidity, or results of operations.

Put Option Agreements

The Company has entered into put option agreements with certain affiliated companies as discussed below. The Company accounts for the put options as contingent liabilities to purchase an asset. Since the inception of these agreements and through 30 September 2010, the Company determined that it was not certain that these options would be exercised by the other shareholders.

In 2002, the Company entered into a put option agreement as part of the purchase of an additional interest in San Fu Gas Company, Ltd., renamed Air Products San Fu Company, Ltd. (San Fu), an industrial gas company in Taiwan. Currently, the Company has an ownership interest of 74% in San Fu. Put options were issued which give other shareholders the right to sell San Fu stock to the Company at market price when exercised. The options are effective through January 2015 and allow for the sale of all stock owned by other shareholders to the Company. The estimated U.S. dollar price of purchasing the stock owned by other shareholders based on the exchange rate at 30 September 2010 would be approximately $240.

In 1999, the Company made an investment in INOX, an Indian industrial gases company. As part of that transaction, put options were issued which gave the other (joint 50%) shareholders the right to require the Company to purchase their shares (approximately 5.1 million) of INOX (renamed INOXAP) at a predefined price. The other shareholders may give notice to exercise the put option between October and December 2010. The option, if exercised, would be effective on 31 July 2011. The option may also be exercised within six months of the death or permanent incapacity of the current Managing Director of INOXAP. The option price is based on a multiple of earnings formula, but not less than 630 Rupees per share. The U.S. dollar price of purchasing all 5.1 million shares based on the multiple of earnings formula at the 30 September 2010 exchange rate would be approximately $190.

Purchase Obligations

The Company is obligated to make future payments under unconditional purchase obligations as summarized below:


2011			$482
2012			100
2013			103
2014			112
2015			118
Thereafter			551
Total			$1,466

Most of the Company's long-term unconditional purchase obligations relate to feedstock supply for numerous HyCO (hydrogen, carbon monoxide, and syngas) facilities. The price of feedstock supply is principally related to the price of natural gas. However, long-term take-or-pay sales contracts to HyCO customers are generally matched to the term of the feedstock supply obligations and provide recovery of price increases in the feedstock supply. Due to the matching of most feedstock supply obligations to customer sales contracts, the Company does not believe these purchase obligations would have a material effect on its financial condition or results of operations.

The above unconditional purchase obligations also include other product supply commitments and also electric power and natural gas supply purchase obligations. In addition, purchase commitments to spend approximately $330 for additional plant and equipment are included in the unconditional purchase obligations in 2011.

Capital Stock	12 Months Ended
Capital Stock	Sep. 30, 2010
Capital Stock
Capital Stock	18. Capital Stock Authorized capital stock consists of 25 million preferred shares with a par value of $1 per share, none of which was outstanding at 30 September 2010, and 300 million shares of common stock with a par value of $1 per share. In 2007, the Board of Directors authorized the repurchase of up to $1,000 of the Company's outstanding common stock. The Company repurchases shares pursuant to Rules 10b5-1 and 10b-18 under the Securities Exchange Act of 1934, as amended, through a 10b5-1 written repurchase plan established with several brokers. At 30 September 2010, $649.2 in share repurchase authorization remained.

Share-Based Compensation

12 Months Ended

Sep. 30, 2010

Share-Based Compensation

Share-Based Compensation

19. Share-Based Compensation

The Company has various share-based compensation programs, which include stock options, deferred stock units, and restricted stock. Under all programs, the terms of the awards are fixed at the grant date. The Company issues shares from treasury stock upon the exercise of stock options, the payout of deferred stock units, and the issuance of restricted stock awards. As of 30 September 2010, there were 6,381,410 shares available for future grant under the Company's Long-Term Incentive Plan, which is shareholder approved.

Share-based compensation cost recognized in the consolidated income statement is summarized below:


	2010			2009			2008
Cost of sales		$4.0			$7.9			$8.7
Selling and administrative		42.5			46.9			47.0
Research and development		2.1			4.1			5.7
Global cost reduction plan		—			1.5			—
Before-Tax Share-Based Compensation Cost		48.6			60.4			61.4
Income tax benefit		(18.3	)		(23.3	)		(23.6	)
After-Tax Share-Based Compensation Cost		$30.3			$37.1			$37.8

The amount of share-based compensation cost capitalized in 2010, 2009, and 2008 was not material.

Total before-tax share-based compensation cost by type of program was as follows:


	2010		2009		2008
Stock options		$25.0		$38.3		$36.5
Deferred stock units		21.5		19.2		22.6
Restricted stock		2.1		2.9		2.3
Before-Tax Share-Based Compensation Cost		$48.6		$60.4		$61.4

Stock Options

The Company has granted awards of options to purchase common stock to executives, selected employees, and outside directors. The exercise price of stock options equals the market price of the Company's stock on the date of the grant. Options generally vest incrementally over three years, and remain exercisable for ten years from the date of grant. Options have not been issued to directors since 2005.

The fair value of options granted was estimated using a lattice-based option valuation model that used the assumptions noted in the table below. Expected volatility and expected dividend yield are based on actual historical experience of the Company's stock and dividends over the historical period equal to the option term. The expected life represents the period of time that options granted are expected to be outstanding based on an analysis of Company-specific historical exercise data. The range given below results from certain groups of employees exhibiting different behavior. Groups of employees that have similar historical exercise behavior were considered separately for valuation purposes. The risk-free rate is based on the U.S. Treasury Strips with terms equal to the expected time of exercise as of the grant date.


	2010			2009			2008
Expected volatility		32.6	%		31.2	%		30.4	%
Expected dividend yield		2.1	%		2.1	%		2.1	%
Expected life (in years)		6.8-8.0			6.8-8.0			6.8-8.0
Risk-free interest rate		2.9%–3.3	%		3.5%–3.9	%		4.5%–4.6	%

The weighted average grant-date fair value of options granted during 2010, 2009, and 2008 was $25.94, $20.86, and $31.84 per option, respectively.

A summary of stock option activity is presented below:


Stock Options	Shares (000)			Weighted Average Exercise Price
Outstanding at 30 September 2009		17,747			$52.79
Granted		1,018			83.60
Exercised		(2,261	)		38.71
Forfeited		(69	)		71.86
Outstanding at 30 September 2010		16,435			$56.56
Exercisable at 30 September 2010		13,799			$52.51

Stock Options	Weighted Average Remaining Contractual Terms (in years)			Aggregate Intrinsic Value
Outstanding at 30 September 2010		4.4			$451
Exercisable at 30 September 2010		3.6			$431

The aggregate intrinsic value represents the amount by which the Company's closing stock price of $82.82 as of 30 September 2010 exceeds the exercise price multiplied by the number of in-the-money options outstanding or exercisable as of that date.

The total intrinsic value of stock options exercised during 2010, 2009, and 2008 was $92.4, $62.1, and $138.0, respectively.

Compensation cost is generally recognized over the stated vesting period consistent with the terms of the arrangement (i.e., either on a straight-line or graded-vesting basis). Expense recognition is accelerated for retirement-eligible individuals who would meet the requirements for vesting of awards upon their retirement. As of 30 September 2010, there was $11.5 of unrecognized compensation cost related to nonvested stock options, which is expected to be recognized over a weighted average period of 1.2 years.

Cash received from option exercises during 2010 was $88.1. The total tax benefit realized from stock option exercises in 2010 was $33.7, of which $21.8 was the excess tax benefit.

Deferred Stock Units and Restricted Stock

The grant-date fair value of deferred stock units and restricted stock is estimated on the date of grant based on the market price of the stock, and compensation cost is generally amortized to expense on a straight-line basis over the vesting period during which employees perform related services. Expense recognition is accelerated for retirement-eligible individuals who would meet the requirements for vesting of awards upon their retirement.

Deferred Stock Units

The Company has granted deferred stock units to executives, selected employees, and outside directors. These deferred stock units entitle the recipient to one share of common stock upon vesting, which is conditioned on continued employment during the deferral period and may also be conditioned on earn-out against certain performance targets. The deferral period for some units ends after death, disability, or retirement. The deferral period for other performance-based deferred stock units ends at the end of the performance period (one to three years). Additionally, the Company has granted deferred stock units, subject to a three-, four-, or five-year deferral period, to selected employees. Deferred stock units issued to directors are paid after service on the Board of Directors ends at the time elected by the director (not to exceed 10 years after service ends).


Deferred Stock Units	Shares (000)			Weighted Average Grant-Date Fair Value
Outstanding at 30 September 2009		1,602			$58.13
Granted		310			83.08
Paid out		(361	)		51.31
Forfeited/adjustments		(24	)		66.13
Outstanding at 30 September 2010		1,527			$64.67

Cash payments made for deferred stock units were $1.4, $5.2, and $8.3 in 2010, 2009, and 2008, respectively. As of 30 September 2010, there was $26.7 of unrecognized compensation cost related to deferred stock units. The cost is expected to be recognized over a weighted average period of 2.5 years. The total fair value of deferred stock units paid out during 2010, 2009, and 2008, including shares vested in prior periods, was $26.2, $22.1, and $51.5, respectively.

Restricted Stock

The Company has issued shares of restricted stock to certain officers. Participants are entitled to cash dividends and to vote their respective shares. Shares granted prior to 2007 are subject to forfeiture if employment is terminated other than due to death, disability, or retirement. Shares granted since 2007 vest in four years or upon earlier retirement, death, or disability. The shares are nontransferable while subject to forfeiture.


Restricted Stock	Shares (000)			Weighted Average Grant-Date Fair Value
Outstanding at 30 September 2009		125			$68.16
Granted		31			83.60
Vested		(13	)		73.12
Forfeited		(2	)		83.60
Outstanding at 30 September 2010		141			$70.87

As of 30 September 2010, there was $1.8 of unrecognized compensation cost related to restricted stock awards. The cost is expected to be recognized over a weighted average period of 3.2 years. The total fair value of restricted stock vested during 2010 and 2008 was $1.0 and $10.8, respectively. During 2009, no restricted stock vested.

Noncontrolling Interests

12 Months Ended

Sep. 30, 2010

Noncontrolling Interest

Noncontrolling Interests

20. Noncontrolling Interests

In 2008, the Company entered into a put option agreement to purchase the remaining noncontrolling interest in CryoService Limited (CSL), a cryogenic and specialty gases company in the U.K. The Company increased its ownership at that time from 25% to 72%. Put options were issued which gave the noncontrolling shareholders the right to require the Company to purchase their shares in CSL. The options were effective beginning January 2010 and are exercisable only within a 20-day option period each year. The option price is based on a multiple of earnings formula.

In June 2010, the Company entered into agreements obligating it to purchase 25% of the remaining shares of CSL. The agreements require the consideration, which is based on a multiple of earnings formula, to be remitted in January 2012. The share sale agreements effectively terminate the option agreements. The carrying value of the 25% noncontrolling interest at the time the sale share agreements were entered into was $10.8. As a result of this arrangement, the Company reduced the noncontrolling interest for the 25% purchase obligation and recorded an estimated liability based on the earnings formula. As the purchase of the noncontrolling interest does not result in a change of control, the difference between the carrying value of the 25% noncontrolling interest and the liability recognized has been recorded as a $28.3 reduction in capital in excess of par value. At 30 September 2010, the liability amounted to $42.0 and has been reported in other noncurrent liabilities on the consolidated balance sheet.

The following table presents the effect of changes in ownership interests in subsidiaries on Air Products shareholder's equity:


	2010			2009		2008
Net income attributable to Air Products		$1,029.1			$631.3		$909.7
Transfers to noncontrolling interests Decrease in Air Products capital in excess of par value for purchase of noncontrolling interests		(28.3	)		—		—
Changes from Net Income Attributable to Air Products and Transfers to Noncontrolling Interests		$1,000.8			$631.3		$909.7

Earnings per Share

12 Months Ended

Sep. 30, 2010

Earnings per Share

Earnings per Share

21. Earnings per Share

The calculation of basic and diluted earnings per share (EPS) is as follows:


30 September	2010		2009			2008
Numerator
Net Income Attributable to Air Products (used in basic and diluted EPS)
Income from continuing operations		$1,029.1		$639.9			$1,090.5
Loss from discontinued operations, net of tax		—		(8.6	)		(180.8	)
Net Income Attributable to Air Products		$1,029.1		$631.3			$909.7
Denominator (in millions)
Weighted average number of common shares used in basic EPS		212.2		209.9			212.2
Effect of dilutive securities
Employee stock options		3.9		2.6			5.9
Other award plans		1.0		1.0			1.1
		4.9		3.6			7.0
Weighted average number of common shares and dilutive potential common shares used in diluted EPS		217.1		213.5			219.2
Basic EPS Attributable to Air Products
Income from continuing operations		$4.85		$3.05			$5.14
Loss from discontinued operations		—		(.04	)		(.85	)
Net Income Attributable to Air Products		$4.85		$3.01			$4.29
Diluted EPS Attributable to Air Products
Income from continuing operations		$4.74		$3.00			$4.97
Loss from discontinued operations		—		(.04	)		(.82	)
Net Income Attributable to Air Products		$4.74		$2.96			$4.15

Diluted

EPS attributable to Air Products reflects the potential dilution that could occur if stock options or other share-based awards were exercised or converted into common stock. The dilutive effect is computed using the treasury stock method, which assumes all share-based awards are exercised and the hypothetical proceeds from exercise are used by the Company to purchase common stock at the average market price during the period. The incremental shares (difference between shares assumed to be issued versus purchased), to the extent they would have been dilutive, are included in the denominator of the diluted EPS calculation. Options on 2.2 million shares, 5.8 million shares, and 1.2 million shares were antidilutive and therefore excluded from the computation of diluted EPS for 2010, 2009, and 2008, respectively.

Income Taxes

12 Months Ended

Sep. 30, 2010

Income Taxes

Income Taxes

22. Income Taxes

The following table shows the components of the provision for income taxes:


	2010		2009			2008
Federal
Current		$100.5		$88.1			$131.7
Deferred		47.4		18.1			3.1
		147.9		106.2			134.8
State
Current		2.7		35.8			2.8
Deferred		4.3		(20.9	)		11.0
		7.0		14.9			13.8
Foreign
Current		140.1		113.7			193.9
Deferred		44.5		(49.5	)		22.8
		184.6		64.2			216.7
		$339.5		$185.3			$365.3

The significant components of deferred tax assets and liabilities are as follows:


30 September	2010			2009
Gross Deferred Tax Assets
Retirement benefits and compensation accruals		$491.0			$508.9
Tax loss carryforwards		62.2			78.7
Tax credits		67.4			74.5
Reserves and accruals		75.4			66.6
Acquisition-related costs		35.9			—
Unremitted earnings of foreign entities		.8			—
Asset impairment		6.7			26.9
Currency losses		29.5			80.4
Other		152.4			167.1
Valuation allowance		(55.4	)		(31.9	)
Deferred Tax Assets		865.9			971.2
Gross Deferred Tax Liabilities
Plant and equipment		840.9			896.2
Investment in partnerships		5.6			10.5
Unrealized gain on cost investments		11.8			5.8
Unremitted earnings of foreign entities		—			2.6
Intangible assets		57.0			26.1
Other		76.5			111.3
Deferred Tax Liabilities		991.8			1,052.5
Net Deferred Income Tax Liability		$125.9			$81.3

Net current deferred tax assets of $124.1 and net noncurrent deferred tax assets of $85.5 were included in other receivables and current assets and other noncurrent assets at 30 September 2010, respectively. Net current deferred tax assets of $206.6 and net noncurrent deferred tax assets of $71.5 were included in other receivables and current assets and other noncurrent assets at 30 September 2009, respectively.

Foreign and state loss carryforwards as of 30 September 2010 were $161.3 and $306.3, respectively. The foreign losses have expiration periods beginning in 2011. Some of the foreign operations operate in jurisdictions with unlimited carryforward periods. State operating loss carryforwards have expiration periods that range between 2011 and 2030.

The valuation allowance as of 30 September 2010 primarily relates to the tax loss carryforwards referenced above. If events warrant the reversal of the $55.4 valuation allowance, it would result in a reduction of tax expense. The Company believes it is more likely than not that future earnings will be sufficient to utilize the Company's deferred tax asset, net of existing valuation allowance, at 30 September 2010.

Major differences between the United States federal statutory tax rate and the effective tax rate are:


(Percent of income before taxes)	2010			2009			2008
U.S. federal statutory tax rate		35.0	%		35.0	%		35.0	%
State taxes, net of federal benefit		.3			1.1			.8
Income from equity affiliates		(3.0	)		(4.7	)		(3.3	)
Foreign taxes and credits		(8.3	)		(7.3	)		(6.1	)
Domestic production activities		(.6	)		(1.1	)		(.6	)
Tax audit settlements and adjustments		—			(.8	)		—
Donation of investments		(.4	)		—			—
Other		1.4			(.1)			(1.1	)
Effective Tax Rate		24.4	%		22.1	%		24.7	%

The following table summarizes the income of U.S. and foreign operations, before taxes:


	2010		2009		2008
Income from Continuing Operations
United States		$464.5		$374.3		$479.5
Foreign		802.6		350.1		854.3
Income from equity affiliates		126.9		112.2		145.0
Total		$1,394.0		$836.6		$1,478.8

The Company does not pay or record U.S. income taxes on the undistributed earnings of its foreign subsidiaries and corporate joint ventures as long as those earnings are permanently reinvested in the companies that produced them. These cumulative undistributed earnings are included in retained earnings on the consolidated balance sheets and amounted to $3,442.6 at the end of 2010. An estimated $824.0 in U.S. income and foreign withholding taxes would be due if these earnings were remitted as dividends after payment of all deferred taxes.

At 30 September 2010 and 2009, the Company had $233.7 and $194.9 of unrecognized tax benefits, of which $137.5 and $101.6, respectively, would impact the effective tax rate if recognized. Interest and penalties related to unrecognized tax benefits are recorded as a component of income tax expense and totaled $5.5 in 2010, $2.5 in 2009, and $3.1 in 2008. The Company's balance of unrecognized tax benefits included an accrual for interest and penalties of $36.0 and $31.8 in 2010 and 2009, respectively.

The Company believes that it is possible that the U.S. Internal Revenue Service may complete its audit of the tax years 2007 and 2008 within the next twelve months. The Company is currently under examination in a number of other tax jurisdictions, some of which may be resolved in the next twelve months. As a result, it is reasonably possible that a change in the unrecognized tax benefits may occur during the next twelve months. However, quantification of an estimated range cannot be made at this time. A reconciliation of the beginning and ending amount of the unrecognized tax benefits is as follows:


Unrecognized Tax Benefits	2010			2009			2008
Balance at beginning of year		$194.9			$184.1			$116.5
Additions for tax positions of the current year		37.3			25.6			58.3
Additions for tax positions of prior years		13.1			39.0			20.1
Reductions for tax positions of prior years		(1.1	)		(45.2	)		(5.2	)
Settlements		—			(5.4	)		(4.6	)
Statute of limitations expiration		(6.3	)		(5.4	)		(3.4	)
Foreign currency translation		(4.2	)		2.2			2.4
Balance at End of Year		$233.7			$194.9			$184.1

The Company generally remains subject to examination in the following major tax jurisdictions for the years indicated below:


Major Tax Jurisdiction	Open Tax Years
North America
United States		2007-2010
Canada		2006-2010
Europe
United Kingdom		2007-2010
Germany		2006-2010
Netherlands		2005-2010
Poland		2004-2010
Spain		2005-2010
Asia
China		2005-2010
Taiwan		2005-2010
Korea		2005-2010

Supplemental Information

12 Months Ended

Sep. 30, 2010

Supplemental Information

Supplemental Information

23. Supplemental Information


Other Receivables and Current Assets
30 September	2010		2009
Deferred tax assets		$124.1		$206.6
Derivative instruments		42.6		54.1
Other receivables		120.7		89.9
Current capital lease receivables		39.1		32.6
Other		45.6		21.6
		$372.1		$404.8

Other Noncurrent Assets
30 September	2010		2009
Restricted cash		$95.7		$129.0
Derivative instruments		71.8		25.1
Other long-term receivables		61.6		72.6
Airgas investment		102.5		—
Other investments		1.1		19.4
Deferred tax assets		85.5		71.5
Prepaid pension benefit cost		—		8.4
Other deferred charges		119.1		112.0
		$537.3		$438.0

Payables and Accrued Liabilities
30 September	2010		2009
Trade creditors		$662.2		$577.6
Customer advances		80.7		72.6
Accrued payroll and employee benefits		207.5		138.8
Pension benefits		238.8		347.9
Dividends payable		104.8		95.1
Outstanding payments in excess of certain cash balances		31.4		25.2
Accrued interest expense		52.9		59.2
Derivative instruments		31.9		61.3
Global cost reduction plan accrual		1.9		110.4
Acquisition-related accrual		117.7		—
Miscellaneous		171.2		172.3
Current liabilities of discontinued operations		1.0		14.4
		$1,702.0		$1,674.8


Other Noncurrent Liabilities
30 September	2010			2009
Pension benefits		$803.2			$795.5
Postretirement benefits		107.2			102.5
Other employee benefits		103.5			105.1
Contingencies related to uncertain tax positions		228.8			193.5
Advance payments		69.6			90.5
Environmental liabilities		79.9			93.4
Liability related to purchase of shares from noncontrolling interests		42.0			—
Derivative instruments		22.3			48.4
Miscellaneous		112.8			93.1
		$1,569.3			$1,522.0

Accumulated Other Comprehensive Income (Loss)
30 September		2010			2009
Net unrealized holding gain on investments		$20.7			$10.5
Net unrecognized (loss) on derivatives qualifying as hedges		(21.9	)		(25.1	)
Foreign currency translation adjustments		(44.1	)		(179.8	)
Pension and postretirement benefits		(1,114.1	)		(967.4	)
		$(1,159.4	)		$(1,161.8	)



Other Income (Expenses), Net	2010		2009		2008
Technology and royalty income	$19.0		$19.5		$18.6
Interest income	3.4		7.4		8.2
Foreign exchange	4.0		(3.8	)	3.6
Sale of assets and investments	13.2		(3.0	)	6.5
Amortization of intangibles	(8.4	)	(10.1	)	(9.8	)
Property damage and related expenses, net of insurance recoveries	4.1		4.9		(13.5	)
Miscellaneous	3.4		8.1		12.2
	$38.7		$23.0		$25.8

Loss from Property Damage

In fiscal 2008, a fire at the Company's Ulsan, Korea nitrogen trifluoride (NF₃) production facility required the plant to be temporarily shut down. Other income (expense) for fiscal 2008 included a net loss of $14.7 ($10.7 after-tax, or $.05 per share) related to property damage. The net book value of the damaged property was written off and a receivable was recorded for expected property damage insurance recoveries. In fiscal 2009, the Company received $3.7 of insurance recoveries representing interim payments on the claim. Additionally, the Company recorded other income of $4.9 ($3.1 after-tax, or $.01 per share), comprising $2.3 for the receipt of additional proceeds from a business interruption claim and a $2.6 adjustment to the book value of the damaged property. In the first quarter of 2010, the Company received $4.1 ($2.6 after-tax, or $.01 per share) of additional insurance proceeds in final settlement of its claim. The production facility resumed operations in April 2010.

Customer Bankruptcy and Asset Actions

On 6 January 2009 a customer of the Company, who principally receives product from the Tonnage Gases segment, began operating under Chapter 11 bankruptcy protection. As a result, the Company recognized a $22.2 ($13.9 after-tax, or $.07 per share) charge, primarily for the write-off of certain receivables during the third quarter of 2009. Sales and operating income associated with this customer are not material to the Tonnage Gases segment's results.

In April 2010, the customer emerged from bankruptcy proceedings. The Company received a final settlement in the amount of $22.4, of which $16.0 was applied against the remaining outstanding receivables. Income of $6.4 ($4.0 after-tax, or $.02 per share) was recognized for the recovery of certain receivables which had been previously written off. This amount was recorded as a gain and is reflected within customer bankruptcy on the consolidated income statement.

In the third quarter of 2009, the Company recorded a charge of $9.9 ($7.1 after-tax, or $.03 per share) 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.

Summary by Quarter (Unaudited)

12 Months Ended

Sep. 30, 2010

Summary by Quarter (Unaudited)

Summary by Quarter (Unaudited)

24. Summary by Quarter (Unaudited)

These tables summarize the unaudited results of operations for each quarter of 2010 and 2009:

2010

First

Second

Third

Fourth

Total

Sales

$2,173.5

$2,249.0

$2,252.3

$2,351.2

$9,026.0

Gross profit

604.9

620.3

641.2

656.6

2,523.

Acquisition-related costs

—

23.4

37.9

34.7

96.0

Customer bankruptcy

—

(1.8

)

(4.6

)

(6.4

)

Pension settlement

—

6.3

5.2

11.5

Operating income

345.0

340.6

336.4

367.0

1,389.0

Net income

256.8

258.4

261.3

278.0

1,054.5

Net income attributable to Air Products

251.8

252.0

253.2

272.1

1,029.1

Basic EPS attributable to Air Products

Net income per common share

1.19

1.28

4.85

Diluted EPS attributable to Air Products

Net income per common share

1.16

1.17

1.25

4.74

Dividends declared per common share

.45

.49

1.92

Market price per common share:

High

85.44

83.80

80.24

84.43

Low

73.76

65.05

64.47

64.13


2009		First			Second		Third			Fourth			Total
Sales			$2,195.3			$1,955.4		$1,976.2			$2,129.3			$8,256.2
Gross profit			565.5			515.6		548.7			584.3			2,214.1
Global cost reduction plan			174.2			—		124.0			—			298.2
Customer bankruptcy			—			—		22.2			—			22.2
Pension settlement			—			—		8.0			2.7			10.7
Operating income			114.1			260.4		143.8			328.0			846.3
Income from continuing operations-attributable to Air Products			90.0			189.3		114.6			246.0			639.9
Income (loss) from discontinued operations-attributable to Air Products			(21.4	)		16.3		(1.4	)		(2.1	)		(8.6	)
Net income			73.6			207.2		118.0			243.9			642.7
Net income attributable to Air Products			68.6			205.6		113.2			243.9			631.3
Basic EPS attributable to Air Products
Income from continuing operations			.43			.90		.55			1.17			3.05
Income (loss) from discontinued operations			(.10	)		.08		(.01	)		(.01	)		(.04	)
Net income per common share			.33			.98		.54			1.16			3.01
Diluted EPS attributable to Air Products
Income from continuing operations			.42			.89		.54			1.14			3.00
Income (loss) from discontinued operations			(.10	)		.08		(.01	)		(.01	)		(.04	)
Net income per common share			.32			.97		.53			1.13			2.96
Dividends declared per common share			.44			.45		.45			.45			1.79
Market price per common share:	High		68.51			60.20		69.93			80.60
	Low		41.46			43.44		54.73			60.52

Business Segment and Geographic Information

12 Months Ended

Sep. 30, 2010

Business Segment and Geographic Information

Business Segment and Geographic Information

25. 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.

Merchant Gases

The Merchant Gases segment sells atmospheric gases such as oxygen, nitrogen, and argon (primarily recovered by the cryogenic distillation of air); process gases such as hydrogen and helium (purchased or refined from crude helium); and medical and specialty gases, along with certain services and equipment, throughout the world to customers in many industries, including those in metals, glass, chemical processing, food processing, healthcare, steel, general manufacturing, and petroleum and natural gas industries. There are four principal types of products: liquid bulk, packaged gases, small on-site plants, and healthcare products. Most merchant product is delivered via bulk supply, in liquid or gaseous form, by tanker or tube trailer. Smaller quantities of industrial, specialty, and medical gases are delivered in cylinders and dewars as "packaged gases," or through small on-sites (cryogenic or noncryogenic generators). Through its healthcare business, the Company offers respiratory therapies, home medical equipment, and infusion services, primarily in Europe. Electricity is the largest cost component in the production of atmospheric gases. Natural gas is also an energy source at a number of the Company's Merchant Gases facilities. The Company mitigates energy and natural gas prices through pricing formulas and surcharges. Merchant Gases competes worldwide against global industrial gas companies and several regional sellers. Competition in industrial gases is based primarily on price, reliability of supply, and the development of industrial gas applications. Competition in the healthcare business involves price, quality, service, and reliability of supply.

Tonnage Gases

Tonnage Gases provides hydrogen, carbon monoxide, nitrogen, oxygen, and syngas principally to the energy production and refining, chemical, and metallurgical industries worldwide. The Tonnage Gases segment also includes the Company's Polyurethane Intermediates (PUI) business. The PUI business markets toluene diamine to customers under long-term contracts. For large-volume, or "tonnage" industrial gas users, the Company either constructs a gas plant adjacent to or near the customer's facility—hence the term "on-site"—or delivers product through a pipeline from a nearby location. The Company is the world's largest provider of hydrogen, which is used by refiners to lower the sulfur content of gasoline and diesel fuels to reduce smog and ozone depletion. Electricity is the largest cost component in the production of atmospheric gases, and natural gas is the principal raw material for hydrogen, carbon monoxide, and syngas production. The Company mitigates energy and natural gas price changes through its long-term cost pass-through type contracts. Tonnage Gases competes against global industrial gas companies, as well as regional competitors. Competition is based primarily on price, reliability of supply, the development of applications that use industrial gases and, in some cases, provision of other services or products such as power and steam generation. The Company also derives a competitive advantage from its pipeline networks which enable it to provide reliable and economic supply of products to customers.

Electronics and Performance Materials

The Electronics and Performance Materials segment employs applications technology to provide solutions to a broad range of global industries through expertise in chemical synthesis, analytical technology, process engineering, and surface science. This segment provides specialty and tonnage gases, specialty chemicals, services, and equipment to the electronics industry for the manufacture of silicon and compound semiconductors, LCD and other displays, and photovoltaic devices. The segment also provides performance chemical solutions for the coatings, inks, adhesives, civil engineering, personal care, institutional and industrial cleaning, mining, oil field, polyurethane, and other industries. The Electronics and Performance Materials segment faces competition on a product-by-product basis against competitors ranging from niche suppliers with a single product to larger and more vertically integrated companies. Competition is principally conducted on the basis of price, quality, product performance, reliability of product supply, technical innovation, service, and global infrastructure.

Equipment and Energy

The Equipment and Energy segment designs and manufactures cryogenic and gas processing equipment for air separation, hydrocarbon recovery and purification, natural gas liquefaction (LNG), and helium distribution, and serves energy markets in a variety of ways. Equipment is sold worldwide to customers in a variety of industries, including chemical and petrochemical manufacturing, oil and gas recovery and processing, and steel and primary metals processing. Energy markets are served through the Company's operation and partial ownership of cogeneration and flue gas desulfurization facilities, its development of hydrogen as an energy carrier, and oxygen-based technologies to serve energy markets in the future. Equipment and Energy competes with a great number of firms for all of its offerings except LNG heat exchangers, for which there are fewer competitors due to the limited market size and proprietary technologies. Competition is based primarily on technological performance, service, technical know-how, price, and performance guarantees.

Other

Other operating income (loss) includes other expense and income that cannot be directly associated with the business segments, including foreign exchange gains and losses, interest income, and costs previously allocated to businesses now reported as discontinued operations. Also included are LIFO inventory adjustments, as the business segments use FIFO and the LIFO pool adjustments are not allocated to the business segments. Corporate general and administrative costs and research and development costs are fully allocated to the business segments.

Other assets include cash, restricted cash, deferred tax assets, pension assets, financial instruments, and corporate assets previously allocated to businesses now reported as discontinued operations.

Customers

The Company has a large number of customers, and no single customer accounts for a significant portion of annual sales.

Accounting Policies

The accounting policies of the segments are the same as those described in Note 1, Major Accounting Policies. The Company evaluates the performance of segments based upon reported segment operating income. Operating income of the business segments includes general corporate expenses. Intersegment sales are not material and are recorded at selling prices that approximate market prices. Equipment manufactured for the Company's industrial gas business is generally transferred at cost and not reflected as an intersegment sale. Long-lived assets include investment in net assets of and advances to equity affiliates, net plant and equipment, goodwill, and net intangible assets.

Business Segments

Business segment information is shown below:


Revenue from External Customers	2010			2009			2008
Merchant Gases		$3,718.3			$3,610.6			$4,192.7
Tonnage Gases		2,930.8			2,573.6			3,574.4
Electronics and Performance Materials		1,904.7			1,582.2			2,209.3
Equipment and Energy		472.2			489.8			438.1
Segment and Consolidated Totals		$9,026.0			$8,256.2			$10,414.5

Operating Income	2010			2009			2008
Merchant Gases		$729.4			$661.2			$789.5
Tonnage Gases		444.2			399.6			482.6
Electronics and Performance Materials		251.8			101.6			245.9
Equipment and Energy		67.3			42.2			38.9
Segment Total		$1,492.7			$1,204.6			$1,556.9
Global cost reduction plan^(A)		—			(298.2	)		—
Acquisition-related costs		(96.0	)		—			—
Customer bankruptcy and asset actions		6.4			(32.1	)		—
Pension settlement		(11.5	)		(10.7	)		(30.3	)
Other		(2.6	)		(17.3	)		(30.8	)
Consolidated Total		$1,389.0			$846.3			$1,495.8

^(A)

Information about how this charge related to the businesses at the segment level is discussed in Note 5, Global Cost Reduction Plan.


Depreciation and Amortization	2010		2009		2008
Merchant Gases		$377.9		$372.3		$370.2
Tonnage Gases		303.0		272.2		278.9
Electronics and Performance Materials		169.0		178.2		208.0
Equipment and Energy		12.7		15.9		11.8
Segment Total		$862.6		$838.6		$868.9
Other		.8		1.7		.1
Consolidated Total		$863.4		$840.3		$869.0

Equity Affiliates' Income	2010		2009		2008
Merchant Gases		$104.3		$98.3		$131.8
Other segments		22.6		13.9		13.2
Segment and Consolidated Totals		$126.9		$112.2		$145.0

Total Assets	2010		2009		2008
Merchant Gases		$5,824.7		$5,630.8		$5,565.9
Tonnage Gases		3,958.1		3,672.0		3,397.8
Electronics and Performance Materials		2,336.1		2,299.1		2,388.8
Equipment and Energy		362.7		333.8		328.3
Segment Total		$12,481.6		$11,935.7		$11,680.8
Other		1,022.3		1,088.4		775.2
Discontinued Operations		2.0		5.0		115.3
Consolidated Total		$13,505.9		$13,029.1		$12,571.3

Investment in and Advances to Equity Affiliates	2010		2009		2008
Merchant Gases		$749.4		$713.8		$684.3
Other segments		163.4		154.3		138.3
Segment and Consolidated Totals		$912.8		$868.1		$822.6
Identifiable Assets	2010		2009		2008
Merchant Gases		$5,075.3		$4,917.0		$4,881.6
Tonnage Gases		3,876.4		3,597.8		3,335.4
Electronics and Performance Materials		2,275.8		2,249.5		2,341.0
Equipment and Energy		341.3		303.3		300.2
Segment Total		$11,568.8		$11,067.6		$10,858.2
Other		1,022.3		1,088.4		775.2
Discontinued Operations		2.0		5.0		115.3
Consolidated Total		$12,593.1		$12,161.0		$11,748.7

Expenditures for Long-Lived Assets	2010		2009		2008
Merchant Gases		$447.1		$515.4		$593.0
Tonnage Gases		557.2		556.5		387.9
Electronics and Performance Materials		139.4		165.2		198.8
Equipment and Energy		22.8		9.8		2.3
Segment Total		$1,166.5		$1,246.9		$1,182.0
Other		.8		1.1		1.7
Consolidated Total		$1,167.3		$1,248.0		$1,183.7

Geographic Information

Geographic information is presented below:


Revenues from External Customers	2010		2009		2008
United States		$4,110.2		$3,779.8		$4,845.1
Canada		260.3		238.6		241.2
Europe		2,819.7		2,765.1		3,448.0
Asia		1,621.0		1,294.2		1,661.3
Latin America/other		214.8		178.5		218.9
		$9,026.0		$8,256.2		$10,414.5

Long-Lived Assets	2010		2009		2008
United States		$3,184.2		$3,180.7		$3,017.0
Canada		608.8		535.2		441.9
Europe		2,779.7		2,873.3		3,048.6
Asia		2,221.0		1,973.0		1,815.3
Latin America		272.1		261.1		255.0
All other		98.6		83.0		77.3
		$9,164.4		$8,906.3		$8,655.1

Geographic information is based on country of origin. Included in United States revenues are export sales to unconsolidated customers of $570.5 in 2010, $510.2 in 2009, and $629.1 in 2008. 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.

Schedule II-Valuation and Qualifying Accounts

12 Months Ended

Sep. 30, 2010

Schedule I I - Valuation and Qualifying Accounts

Schedule II-Valuation and Qualifying Accounts

AIR PRODUCTS AND CHEMICALS, INC. AND SUBSIDIARIES

SCHEDULE II–VALUATION AND QUALIFYING ACCOUNTS

For the Years Ended 30 September 2010, 2009, and 2008


			Additions						Other Changes Increase (Decrease)
	Balance at Beginning of Period		Charged to Expense			Charged to Other Accounts			Cumulative Translation Adjustment			Other ^(A)			Balance at End of Period
							(in millions of dollars)
Year Ended 30 September 2010
Allowance for doubtful accounts		$65		$4			$25			$—			$5			$99
Allowance for deferred tax assets		32		26			(2	)		(1	)		—			55

Year Ended 30 September 2009
Allowance for doubtful accounts		$36		$24			$14			$1			$(10	)		$65
Allowance for deferred tax assets		61		(30	)		—			1			—			32

Year Ended 30 September 2008
Allowance for doubtful accounts		$33		$10			$4			$—			$(11	)		$36
Allowance for deferred tax assets		33		36			—			—			(8	)		61

Note:

^(A)

Primarily write-offs of uncollectible trade receivable accounts and tax valuation allowances.

Major Accounting Policies (Policy)

12 Months Ended

Sep. 30, 2010

Major Accounting Policies

Consolidation Principles

Consolidation Principles

Estimates and Assumptions

Estimates and Assumptions

The preparation of the financial statements in accordance with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Revenue Recognition

Revenue Recognition

Amounts billed for shipping and handling fees are classified as sales in the consolidated income statements.

Cost of Sales

Cost of Sales

Depreciation

Depreciation


		Principal Estimated Useful Lives
Buildings		30 years
Production facilities ^(A)
Merchant Gases		15 years
Tonnage Gases		15 to 20 years
Electronics and Performance Materials		10 to 15 years
Equipment and Energy		5 to 20 years
Distribution equipment ^(B)		5 to 25 years
Other machinery and equipment		10 to 25 years

^(A)

Depreciable lives of production facilities related to long-term customer supply contracts associated with the tonnage gases business are matched to the contract lives.

^(B)

Selling and Administrative

Selling and Administrative

The principal components of selling and administrative expenses are salaries, advertising, and promotional costs.

Postemployment Benefits

Postemployment Benefits

Financial Instruments

Financial Instruments

The following details 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 not designated as a hedge are recorded immediately in earnings.

Foreign Currency

Foreign Currency

Since the Company does business in many foreign countries, fluctuations in currency exchange rates affect the Company's financial position and results of operations.

Environmental Expenditures

Environmental Expenditures

The accruals for environmental liabilities are reflected in the consolidated balance sheets, primarily as part of other noncurrent liabilities, and will be paid over a period of up to 30 years.

Litigation

Litigation

Share-Based Compensation

Share-Based Compensation

Income Taxes

Income Taxes

Cash and Cash Items

Cash and Cash Items

Cash and cash items include cash, time deposits, and certificates of deposit acquired with an original maturity of three months or less.

Trade Receivables, Less Allowances for Doubtful Accounts

Trade Receivables, Less Allowances for Doubtful Accounts

Inventories

Inventories

At the business segment level, inventories are recorded at FIFO and the LIFO pool adjustments are not allocated to the business segments.

Equity Investments

Equity Investments

Plant and Equipment

Plant and Equipment

Restricted Cash

Restricted Cash Restricted cash includes the proceeds from the issuance of certain industrial revenue bonds that must be held in escrow until related project spending occurs. Restricted cash is classified as noncurrent assets in the consolidated balance sheets.

Capitalized Interest

Capitalized Interest

Asset Retirement Obligations

Asset Retirement Obligations

Computer Software

Computer Software

Impairment of Long-Lived Assets

Impairment of Long-Lived Assets

Goodwill

Goodwill

Intangible Assets

Intangible Assets

Retirement Benefits

Retirement Benefits

Major Accounting Policies (Tables)

12 Months Ended

Sep. 30, 2010

Major Accounting Policies

Schedule of Principal Lives for Major Classes of Plant and Equipment


		Principal Estimated Useful Lives
Buildings		30 years
Production facilities ^(A)
Merchant Gases		15 years
Tonnage Gases		15 to 20 years
Electronics and Performance Materials		10 to 15 years
Equipment and Energy		5 to 20 years
Distribution equipment ^(B)		5 to 25 years
Other machinery and equipment		10 to 25 years

^(A)

Depreciable lives of production facilities related to long-term customer supply contracts associated with the tonnage gases business are matched to the contract lives.

^(B)

Global Cost Reduction Plan (Tables)

12 Months Ended

Sep. 30, 2010

Global Cost Reduction Plan

Global Cost Reduction Plan as it relates to businesses at segment level


	Severance and Other Benefits		Asset Impairments/ 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
2009 Charge		$210.0		$88.2		$298.2

Table of Changes for the Global Cost Reduction Plan

	Severance and Other Benefits			Asset Impairments/ 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 items		(33.8	) ^(B)		(66.1	)		(99.9	)
Cash expenditures		(75.3	)		(.9	)		(76.2	)
Currency translation adjustment		4.3			—			4.3
30 September 2009		$105.2			$5.2			$110.4
Adjustment to charge		7.6			(6.6	)		1.0
Environmental charge ^(A)		—			1.5			1.5
Noncash items		(2.8	)^(B)		.1			(2.7	)
Cash expenditures		(102.8	)		(.2	)		(103.0	)
Currency translation adjustment		(5.3	)		—			(5.3	)
30 September 2010		$1.9			$—			$1.9

^(A)

Reflected in accrual for environmental obligations. See Note 17, Commitments and Contingencies.

^(B)

Primarily pension-related costs, which are reflected in the accrual for pension benefits.

Discontinued Operations (Tables)

12 Months Ended

Sep. 30, 2010

Table of Operating Results of Discontinued Operations


	2010		2009			2008
Sales		$—		$125.2			$524.1

Loss before taxes		$—		$(5.5	)		$(324.2	)
Income tax benefit		—		(2.1	)		(81.6	)
Loss from operations of discontinued operations		—		(3.4	)		(242.6	)
Gain (loss) on sale of businesses and impairment/write-down to estimated net realizable value, net of tax		—		(5.2	)		67.2
Loss from discontinued operations, net of tax		—		(8.6	)		(175.4	)
Less: Income from discontinued operations attributable to noncontrolling interests, net of tax		—		—			5.4
Loss from Discontinued Operations Attributable to Air Products, net of tax		$—		$(8.6	)		$(180.8	)

US Healthcare [Member]

Table of Operating Results of Discontinued Operations


	2010		2009			2008
Sales		$—		$125.2			$239.8

Loss before taxes		$—		$(5.5	)		$(350.6	)
Income tax benefit		—		(2.1	)		(91.2	)
Loss from operations of discontinued operations		—		(3.4	)		(259.4	)
Loss on sale of businesses and impairment/write-down to estimated net realizable value, net of tax		—		(5.5	)		(8.7	)
Loss from Discontinued Operations, net of tax		$—		$(8.9	)		$(268.1	)

Polymer Emulsions Business [Member]

Table of Operating Results of Discontinued Operations


	2010		2009		2008
Sales		$—		$—		$261.4

Income before taxes		$—		$—		$26.3
Income tax provision		—		—		9.6
Income from operations of discontinued operations		—		—		16.7
Gain on sale of business, net of tax		—		.3		76.2
Income from discontinued operations, net of tax		—		.3		92.9
Less: Income from discontinued operations attributable to noncontrolling interests, net of tax		—		—		5.4
Income from Discontinued Operations Attributable to Air Products, net of tax		$—		$.3		$87.5

HPPC Business [Member]

Table of Operating Results of Discontinued Operations


	2010		2009		2008
Sales		$—		$—		$22.9

Income before taxes		$—		$—		$.1
Income tax provision		—		—		—
Income from operations of discontinued operations		—		—		.1
Loss on sale of business, net of tax		—		—		(.3	)
Loss from Discontinued Operations, net of tax		$—		$—		$(.2	)

Inventories (Tables)

12 Months Ended

Sep. 30, 2010

Inventories

Schedule of Inventory


30 September	2010			2009
Inventories at FIFO cost
Finished goods		$405.3			$405.5
Work in process		29.3			20.9
Raw materials and supplies		208.2			151.1
		642.8			577.5
Less: Excess of FIFO cost over LIFO cost		(71.2	)		(67.9	)
		$571.6			$509.6

Summarized Financial Information of Equity Affiliates (Tables)

12 Months Ended

Sep. 30, 2010

Summarized Financial Information of Equity Affiliates

Table of Summarized Financial Information of Equity Affiliates


	2010		2009
Current assets		$1,133.4		$1,185.2
Noncurrent assets		2,071.6		1,916.9
Current liabilities		788.9		714.5
Noncurrent liabilities		559.9		677.3
Net sales		2,293.4		2,129.7
Sales less cost of sales		964.4		874.4
Net income		293.0		257.7

Plant and Equipment (Tables)

12 Months Ended

Sep. 30, 2010

Plant and Equipment

Schedule of Major Classes of Plant and Equipment at Cost


30 September	2010		2009
Land		$172.3		$169.4
Buildings		886.2		875.5
Production facilities
Merchant Gases		3,346.3		3,071.0
Tonnage Gases		5,691.4		5,441.7
Electronics and Performance Materials		2,061.2		1,907.6
Equipment and Energy		296.5		286.8
Total production facilities		11,395.4		10,707.1
Distribution equipment		2,918.6		2,802.5
Other machinery and equipment		248.0		273.1
Construction in progress		689.2		923.7
		$16,309.7		$15,751.3

Goodwill (Tables)

12 Months Ended

Sep. 30, 2010

Goodwill

Schedule of Goodwill by Segment


30 September	2009		Acquisitions and Adjustments			Currency Translation and Other			2010
Merchant Gases		$601.3		$19.1			$(24.7	)		$595.7
Tonnage Gases		16.3		(.9	)		.1			15.5
Electronics and Performance Materials		298.4		.3			4.7			303.4
		$916.0		$18.5			$(19.9	)		$914.6

30 September	2008		Acquisitions and Adjustments			Currency Translation and Other			2009
Merchant Gases		$626.5		$1.9			$(27.1	)		$601.3
Tonnage Gases		18.0		—			(1.7	)		16.3
Electronics and Performance Materials		283.6		10.0			4.8			298.4
		$928.1		$11.9			$(24.0	)		$916.0

Intangible Assets (Tables)

12 Months Ended

Sep. 30, 2010

Intangible Assets

Schedule of Acquired Intangible Assets


	30 September 2010							30 September 2009
	Gross		Accumulated Amortization			Net		Gross		Accumulated Amortization			Net
Customer relationships		$283.3		$(62.7	)		$220.6		$250.0		$(51.4	)		$198.6
Patents and technology		99.0		(73.6	)		25.4		107.3		(69.0	)		38.3
Other		73.3		(33.6	)		39.7		49.5		(23.8	)		25.7
		$455.6		$(169.9	)		$285.7		$406.8		$(144.2	)		$262.6

Schedule of Intangible Assets Projected Amortization


2011			$21.1
2012			18.9
2013			18.4
2014			17.7
2015			17.3
Thereafter			192.3
			$285.7

Leases (Tables)

12 Months Ended

Sep. 30, 2010

Leases

Schedule of Minimum Lease Payments Due


	Capital Leases		Operating Leases
2011		$1.8		$50.1
2012		1.8		38.3
2013		1.7		27.6
2014		1.5		17.7
2015		1.5		13.5
Thereafter		2.8		42.7
		$11.1		$189.9

Schedule of Lease Receivables


30 September	2010			2009
Gross minimum lease payments receivable		$1,195.5			$1,068.9
Unearned interest income		(386.0	)		(349.3	)
Net Lease Receivable		$809.5			$719.6

Schedule of Minimum Lease Payments to be Collected


2011			$93.2
2012			95.6
2013			93.9
2014			92.3
2015			90.0
Thereafter			730.5
			$1,195.5

Financial Instruments (Tables)

12 Months Ended

Sep. 30, 2010

Financial Instruments

Schedule of Outstanding Currency Price Risk Management Instruments


	2010				2009
30 September	US$ Notional		Years Average Maturity		US$ Notional		Years Average Maturity
Forward Exchange Contracts
Cash flow hedges		$1,605.5		.5		$1,620.7		.8
Net investment hedges		648.5		3.0		873.6		3.5
Fair value hedges		-		-		2.7		.4
Hedges not designated		373.6		.2		508.9		.6
Total Forward Exchange Contracts		$2,627.6		1.1		$3,005.9		1.6

Schedule of Cross Currency Interest Rate Swaps

30 September 2010

30 September 2009

US$
Notional

Pay %

Average
Receive %

Years
Average
Maturity

US$
Notional

Pay %

Average
Receive %

Years
Average
Maturity

Interest rate swaps (fair value hedge)

$617.0

LIBOR

3.66%

3.8

$327.2

LIBOR

4.47%

1.7

Cross currency interest rate swaps
(net investment hedge)

$32.2

5.54%

5.48%

3.5

$32.2

5.54%

5.48%

4.5

Fair Value of Derivative Instruments

30 September
2010

30 September
2009

30 September

2010

30 September
2009

Balance Sheet
Location

Fair

Value

Fair

Value

Balance Sheet
Location

Fair

Value

Fair

Value

Derivatives Designated as Hedging Instruments

Foreign exchange contracts

Other receivables

$29.8

$37.5

Accrued liabilities

$22.3

$43.8

Interest rate swap contracts

Other receivables

6.6

—

Accrued liabilities

1.3

Commodity swap contracts

Other receivables

—

4.3

Accrued liabilities

—

2.4

Foreign exchange contracts

Other noncurrent

assets

38.7

6.8

Other noncurrent

liabilities

19.9

42.2

Interest rate swap contracts

Other noncurrent
assets

33.1

15.1

Other noncurrent
liabilities

2.4

3.0

Total Derivatives Designated as Hedging Instruments

$108.2

$63.7

$45.9

$91.8

Derivatives Not Designated as Hedging Instruments

Foreign exchange contracts

Other receivables

$6.2

$12.3

Accrued liabilities

$8.3

$14.7

Foreign exchange contracts

Other noncurrent
assets

—

3.2

Other noncurrent
liabilities

—

3.2

Derivatives Not Designated as Hedging Instruments

$6.2

$15.5

$8.3

$17.9

Total Derivatives

$114.4

$79.2

$54.2

$109.7

Schedule of Gain/Loss Related to Derivative Instruments


	Year Ended 30 September
	Forward Exchange Contracts						Foreign Currency Debt					Other ^(A)						Total
	2010			2009			2010			2009		2010			2009			2010			2009
Cash Flow Hedges
Net (gain) loss recognized in OCI (effective portion)		$11.3			$7.2			$—			$—		$.3			$(2.7	)		$11.6			$4.5
Net gain (loss) reclassified from OCI to sales/cost of sales (effective portion)		(10.8	)		(4.1	)		—			—		2.0			5.3			(8.8	)		1.2
Net gain (loss) reclassified from OCI to other (income) expense (effective portion)		(6.2	)		(1.0	)		—			—		—			—			(6.2	)		(1.0	)
Net gain (loss) reclassified from OCI to other (income) expense (ineffective portion)		.2			.5			—			—		—			—			.2			.5
Net Investment Hedges Net (gain) loss recognized in OCI		$(58.4	)		$27.1			$(109.8	)		$52.0		$(.4	)		$(2.4	)		$(168.6	)		$76.7
Derivatives Not Designated as Hedging Instruments Net (gain) loss recognized in other (income) expense^(B)		$24.7			14.5			$—			$—		$—			$—			$24.7			$14.5

^(A)

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

^(B)

Fair Value Measurements (Tables)

12 Months Ended

Sep. 30, 2010

Fair Value Measurements

Schedule of Carrying Values and Fair Values of Financial Instruments


30 September	2010				2009
	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets
Derivatives
Foreign exchange contracts		$74.7		$74.7		$59.8		$59.8
Interest rate swap contracts		39.7		39.7		15.1		15.1
Commodity swap contracts		—		—		4.3		4.3
Available-for-sale securities
Airgas investment		102.5		102.5		—		—
Other investments		1.1		1.1		19.4		19.4
Liabilities
Derivatives
Foreign exchange contracts		$50.5		$50.5		$103.9		$103.9
Interest rate swap contracts		3.7		3.7		3.4		3.4
Commodity swap contracts		—		—		2.4		2.4
Long-term debt, including current portion		3,842.3		4,146.4		4,167.7		4,479.5

Schedule of Fair Value of Assets and Liabilities


	30 September 2010								30 September 2009
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Assets at Fair Value
Derivatives
Foreign exchange contracts		$74.7		$—		$74.7		$—		$59.8		$—		$59.8		$—
Interest rate swap contracts		39.7		—		39.7		—		15.1		—		15.1		—
Commodity swap contracts		—		—		—		—		4.3		—		4.3		—
Available-for-sale securities
Airgas investment		102.5		102.5		—		—		—		—		—		—
Other investments		1.1		1.1		—		—		19.4		19.4		—		—
Total Assets at Fair Value		$218.0		$103.6		$114.4		$—		$98.6		$19.4		$79.2		$—

Liabilities at Fair Value
Derivatives
Foreign exchange contracts		$50.5		$—		$50.5		$—		$103.9		$—		$103.9		$—
Interest rate swap contracts		3.7		—		3.7		—		3.4		—		3.4		—
Commodity swap contracts		—		—		—		—		2.4		—		2.4		—
Total Liabilities at Fair Value		$54.2		$—		$54.2		$—		$109.7		$—		$109.7		$—

Debt (Tables)

12 Months Ended

Sep. 30, 2010

Debt

Schedule of Total Debt


30 September	2010		2009
Short-term borrowings		$286.0		$333.8
Current portion of long-term debt		182.5		452.1
Long-term debt		3,659.8		3,715.6
Total Debt		$4,128.3		$4,501.5

Schedule of Short-term Borrowings

Short-term Borrowings

30 September	2010		2009
Bank obligations		$225.1		$333.8
Short-term borrowings associated with SAGA acquisition		60.9		—
Total Short-term Borrowings		$286.0		$333.8

Schedule of Long-term Debt


30 September	Maturities		2010			2009
Payable in U.S. Dollars
Debentures
8.75%		2021		$18.4			$18.4
Medium-term Notes
Weighted average rate
Series D 6.8%		2011 to 2016		63.1			63.1
Series E 7.6%		2026		17.2			17.2
Series F 6.2%		2010		—			50.0
Series G 4.1%		2011		125.0			125.0
Senior Notes
Note 4.15%		2013		300.0			300.0
Note 4.375%		2019		400.0			400.0
Other
Weighted average rate
Variable-rate industrial revenue bonds 0.5%		2016 to 2050		975.1			902.1
Other 2.3%		2013 to 2019		55.1			70.7
Payable in Other Currencies
Eurobonds 1.2% (floating rate)		2010		—			365.5
Eurobonds 4.25%		2012		408.1			438.5
Eurobonds 3.75%		2014		408.1			438.5
Eurobonds 3.875%		2015		408.1			438.5
Eurobonds 4.625%		2017		408.1			438.5
Other 5.0%		2011 to 2018		255.3			105.5
Capital Lease Obligations
United States 5.0%		2011 to 2018		5.5			6.1
Foreign 5.1%		2011 to 2013		4.3			2.8
Less: Unamortized Discount				(9.1	)		(12.7	)
				3,842.3			4,167.7
Less: Current Portion				(182.5	)		(452.1	)
Total Long-term Debt				$3,659.8			$3,715.6

Retirement Benefits (Tables)

12 Months Ended

Sep. 30, 2010

Schedule of Net Periodic Benefit Cost


	2010						2009						2008
	U.S.			International			U.S.			International			U.S.			International
Service cost		$42.5			$24.2			$33.9			$26.6			$42.3			$35.4
Interest cost		123.4			60.2			124.0			60.9			117.6			63.3
Expected return on plan assets		(164.3	)		(64.3	)		(146.5	)		(55.3	)		(143.2	)		(63.6	)
Amortization
Prior service cost		2.7			.7			2.6			1.3			1.9			1.3
Transition		—			—			—			—			—			.1
Actuarial loss		46.9			19.9			6.2			10.8			19.6			18.3
Settlements and curtailments		10.7			.8			9.7			4.8			29.9			.4
Special termination benefits		(.9	)		4.2			7.2			22.1			.1			1.1
Other		—			2.3			—			1.7			—			2.5
Net Periodic Pension Cost		$61.0			$48.0			$37.1			$72.9			$68.2			$58.8

Schedule of Weighted Average Assumptions Used in the Calculation of Net Periodic Pension Cost


	2010				2009				2008
	U.S.		International		U.S.		International		U.S.		International
Discount rate		5.7%		5.5%		7.6%		6.5%		6.4%		5.7%
Expected return on plan assets		8.8%		7.3%		8.8%		7.4%		9.5%		7.5%
Rate of compensation increase		4.3%		3.7%		4.3%		4.4%		4.5%		3.8%

Schedule of Weighted Average Assumptions Used in the Calculation of PBO

2010

2009

U.S.

International

U.S.

International

Discount rate

5.1%

4.9%

5.7%

5.5%

Rate of compensation increase

4.0%

3.8%

4.3%

3.7%

Defined Benefit Plan Amounts Recognized in Balance Sheet


	2010						2009
	U.S.			International			U.S.			International
Change in Pension Benefit Obligation
Obligation at beginning of year		$2,210.5			$1,175.5			$1,638.7			$1,093.0
Measurement date change		—			—			—			(78.5	)
Service cost		42.5			24.2			33.9			26.6
Interest cost		123.4			60.2			124.0			60.9
Amendments		1.3			1.0			.9			.6
Actuarial loss		176.9			115.0			498.0			173.4
Special termination benefits, settlements, and curtailments		3.1			3.0			12.8			23.5
Participant contributions		—			4.1			—			4.6
Benefits paid		(111.5	)		(48.0	)		(97.8	)		(60.9	)
Currency translation/other		—			(27.6	)		—			(67.7	)
Obligation at End of Year		$2,446.2			$1,307.4			$2,210.5			$1,175.5

Change in Plan Assets
Fair value at beginning of year		$1,457.7			$793.3			$1,424.7			$793.5
Actual return on plan assets		153.5			77.7			9.4			41.6
Company contributions		227.5			179.1			121.4			63.4
Participant contributions		—			4.1			—			4.6
Benefits paid		(111.5	)		(48.0	)		(97.8	)		(60.9	)
Currency translation/other		—			(21.8	)		—			(48.9	)
Fair Value at End of Year		$1,727.2			$984.4			$1,457.7			$793.3

Funded Status at End of Year		$(719.0	)		$(323.0	)		$(752.8	)		$(382.2	)

Amounts Recognized
Noncurrent assets		$—			$—			$—			$8.4
Accrued liabilities		(178.2	)		(60.6	)		(210.5	)		(137.4	)
Noncurrent liabilities		(540.8	)		(262.4	)		(542.3	)		(253.2	)
Net Amount Recognized		$(719.0	)		$(323.0	)		$(752.8	)		$(382.2	)

Schedule of Changes in Plan Assets and Benefit Obligation Recognized in AOCI on a Pretax Basis


	2010						2009
	U.S.			International			U.S.			International
Net actuarial loss arising during the period		$191.6			$103.2			$640.8			$148.2
Measurement date change		—			—			—			(49.8	)
Amortization of net actuarial loss		(57.6	)		(20.7	)		(15.9	)		(15.6	)
Prior service cost arising during the period		1.3			1.0			.8			.6
Amortization of prior service cost		(2.7	)		(.7	)		(2.6	)		(1.3	)
Total Recognized in AOCI		$132.6			$82.8			$623.1			$82.1

Schedule of Components Recognized in AOCI on a Pretax Basis


	2010				2009
	U.S.		International		U.S.		International
Net actuarial loss		$1,110.9		$533.4		$976.9		$450.9
Prior service cost		16.9		7.1		18.3		6.8
Net transition liability		—		.4		—		.4
Total Recognized in AOCI		$1,127.8		$540.9		$995.2		$458.1

Schedule of AOCI Expected to be Recognized as a Component of Net Periodic Pension Cost in Next Fiscal Year


	U.S.		International
Net actuarial loss		$64.9		$29.4
Prior service cost		2.5		.6

Schedule of Actual and Target Asset Allocations


	2010 Target Allocation						2010 Actual Allocation						2009 Actual Allocation
Asset Category	U.S.			International			U.S.			International			U.S.			International
Equity securities		60-80	%		53-62	%		70	%		55	%		68	%		56	%
Debt securities		20-30	%		36-45	%		25	%		38	%		26	%		39	%
Real estate/other		0-10	%		1-3	%		4	%		2	%		5	%		3	%
Cash		—			—			1	%		5	%		1	%		2	%
Total								100	%		100	%		100	%		100	%

Schedule of Pension Plan Assets Measured at Fair Value

Fair Value

Total

Level 1

Level 2

Level 3

U.S. Qualified Pension Plans

Cash and cash equivalents

$8.3

$—

Equity securities

551.1

—

Equity mutual funds

87.4

—

Equity pooled funds

573.1

—

573.1

—

Fixed Income

Bonds (government and corporate)

17.8

—

17.8

—

Mortgage and asset-backed securities

31.7

—

31.7

—

Mutual funds

50.6

—

Pooled funds

330.2

—

330.2

—

Real estate pooled funds

77.0

—

77.0

Total U.S. Qualified Pension Plans

$1,727.2

$697.4

$952.8

$77.0

International Pension Plans

Cash and cash equivalents

$46.5

$—

Equity pooled funds

538.3

—

538.3

—

Fixed income pooled funds

297.6

—

297.6

—

Other pooled funds

25.9

—

8.0

17.9

Insurance contracts

76.1

—

76.1

Total International Pension Plans

$984.4

$46.5

$843.9

$94.0

Schedule of Changes in Fair Value of Pension Plan Assets Classified as Level 3


			Actual Return On Plan Assets
	Fair Value Beginning of Year		Assets Held End of year		Assets Sold During Period		Purchases, Sales, and Settlements, Net		Fair Value End of Year
U.S. Qualified Pension Plans
Real estate pooled funds		$72.7		$4.3		$—		$—		$77.0
Total U.S. Qualified Pension Plans		$72.7		$4.3		$—		$—		$77.0

International Pension Plans
Other pooled funds		$13.0		$.5		$.2		$4.2		$17.9
Insurance contracts		66.7		5.1		—		4.3		76.1
Total International Pension Plans		$79.7		$5.6		$.2		$8.5		$94.0

Schedule of Projected Benefit Payments


	U.S.		International
2011		$95.6		$43.3
2012		103.9		45.2
2013		110.4		48.7
2014		117.7		50.7
2015		125.7		52.3
2016–2020		760.6		285.8

Schedule of Pension Plans Where PBO Exceeds the Value of Plan Assets

2010

2009

U.S.

International

U.S.

International

PBO

$2,446.2

$1,294.8

$2,210.5

$1,036.3

ABO

2,121.5

1,196.5

1,885.0

973.5

Plan assets

1,727.2

971.2

1,457.7

645.0

Schedule of Pension Plans Where ABO Exceeds the Value of Plan Assets

2010

2009

U.S.

International

U.S.

International

PBO

$2,446.2

$1,263.4

$2,210.5

$1,008.4

ABO

2,121.5

1,170.4

1,885.0

955.8

Plan assets

1,727.2

944.5

1,457.7

620.2

Schedule of Other Postretirement Benefit Plans' Cost Components


	2010			2009			2008
Service cost		$4.7			$4.0			$5.9
Interest cost		4.6			6.5			5.8
Amortization
Prior service credit		(.1	)		(1.4	)		(1.4	)
Actuarial loss		2.9			.1			1.7
Net Periodic Postretirement Cost		$12.1			$9.2			$12.0

Schedule of Changes in Accumulated Postretirement Benefit Obligation and Amounts Recognized in the Consolidated Balance Sheets


	2010			2009
Obligation at beginning of year		$116.0			$98.8
Service cost		4.7			4.0
Interest cost		4.6			6.5
Actuarial loss		7.8			18.7
Benefits paid		(12.2	)		(12.0	)
Obligation at End of Year		$120.9			$116.0

Amounts Recognized
Accrued liabilities		$13.7			$13.5
Noncurrent liabilities		107.2			102.5

Schedule of Changes in Benefit Obligation Recognized in AOCI on a Pretax Basis for Other Postretirement Benefit Plans


	2010			2009
Net actuarial loss arising during the period		$7.8			$18.7
Amortization of net actuarial loss		(2.9	)		(.1	)
Amortization of prior service credit		.1			1.4
Total Recognized in AOCI		$5.0			$20.0

Schedule of Components of Other Postretirement Benefit Plans Recognized in AOCI on a Pretax Basis


	2010		2009
Net actuarial loss		$35.5		$30.6
Prior service credit		—		(.1	)
Amount Recognized in AOCI		$35.5		30.5

Schedule of Assumed Healthcare Trend Rates


	2010			2009
Healthcare trend rate		8.0	%		9.5	%
Ultimate trend rate		5.0	%		5.0	%
Year the ultimate trend rate is reached		2014			2014

Schedule of Projected Benefit Payments for Other Postretirement Benefit Plans


2011			$13.9
2012			13.6
2013			13.2
2014			12.9
2015			12.5
2016–2020			55.8

Commitments and Contingencies (Tables)

12 Months Ended

Sep. 30, 2010

Commitments and Contingencies

Schedule of Future Payments Under Unconditional Purchase Obligations


2011			$482
2012			100
2013			103
2014			112
2015			118
Thereafter			551
Total			$1,466

Share-Based Compensation (Tables)

12 Months Ended

Sep. 30, 2010

Share-Based Compensation

Share-Based Compensation Cost Recognized in the Income Statement


	2010			2009			2008
Cost of sales		$4.0			$7.9			$8.7
Selling and administrative		42.5			46.9			47.0
Research and development		2.1			4.1			5.7
Global cost reduction plan		—			1.5			—
Before-Tax Share-Based Compensation Cost		48.6			60.4			61.4
Income tax benefit		(18.3	)		(23.3	)		(23.6	)
After-Tax Share-Based Compensation Cost		$30.3			$37.1			$37.8

Schedule of Before-Tax Share-Based Compensation Costs by Program Type


	2010		2009		2008
Stock options		$25.0		$38.3		$36.5
Deferred stock units		21.5		19.2		22.6
Restricted stock		2.1		2.9		2.3
Before-Tax Share-Based Compensation Cost		$48.6		$60.4		$61.4

Schedule of Assumptions Used to Estimate Fair Value of Options Granted


	2010			2009			2008
Expected volatility		32.6	%		31.2	%		30.4	%
Expected dividend yield		2.1	%		2.1	%		2.1	%
Expected life (in years)		6.8-8.0			6.8-8.0			6.8-8.0
Risk-free interest rate		2.9%–3.3	%		3.5%–3.9	%		4.5%–4.6	%

Schedule of Stock Option Activity


Stock Options	Shares (000)			Weighted Average Exercise Price
Outstanding at 30 September 2009		17,747			$52.79
Granted		1,018			83.60
Exercised		(2,261	)		38.71
Forfeited		(69	)		71.86
Outstanding at 30 September 2010		16,435			$56.56
Exercisable at 30 September 2010		13,799			$52.51

Stock Options	Weighted Average Remaining Contractual Terms (in years)			Aggregate Intrinsic Value
Outstanding at 30 September 2010		4.4			$451
Exercisable at 30 September 2010		3.6			$431

Schedule of Deferred Stock Units


Deferred Stock Units	Shares (000)			Weighted Average Grant-Date Fair Value
Outstanding at 30 September 2009		1,602			$58.13
Granted		310			83.08
Paid out		(361	)		51.31
Forfeited/adjustments		(24	)		66.13
Outstanding at 30 September 2010		1,527			$64.67

Schedule of Restricted Stock


Restricted Stock	Shares (000)			Weighted Average Grant-Date Fair Value
Outstanding at 30 September 2009		125			$68.16
Granted		31			83.60
Vested		(13	)		73.12
Forfeited		(2	)		83.60
Outstanding at 30 September 2010		141			$70.87

Noncontrolling Interests (Tables)

12 Months Ended

Sep. 30, 2010

Noncontrolling Interest

Schedule of Changes in Ownership Interests


	2010			2009		2008
Net income attributable to Air Products		$1,029.1			$631.3		$909.7
Transfers to noncontrolling interests Decrease in Air Products capital in excess of par value for purchase of noncontrolling interests		(28.3	)		—		—
Changes from Net Income Attributable to Air Products and Transfers to Noncontrolling Interests		$1,000.8			$631.3		$909.7

Earnings per Share (Tables)

12 Months Ended

Sep. 30, 2010

Earnings per Share

Schedule of Earnings Per Share


30 September	2010		2009			2008
Numerator
Net Income Attributable to Air Products (used in basic and diluted EPS)
Income from continuing operations		$1,029.1		$639.9			$1,090.5
Loss from discontinued operations, net of tax		—		(8.6	)		(180.8	)
Net Income Attributable to Air Products		$1,029.1		$631.3			$909.7
Denominator (in millions)
Weighted average number of common shares used in basic EPS		212.2		209.9			212.2
Effect of dilutive securities
Employee stock options		3.9		2.6			5.9
Other award plans		1.0		1.0			1.1
		4.9		3.6			7.0
Weighted average number of common shares and dilutive potential common shares used in diluted EPS		217.1		213.5			219.2
Basic EPS Attributable to Air Products
Income from continuing operations		$4.85		$3.05			$5.14
Loss from discontinued operations		—		(.04	)		(.85	)
Net Income Attributable to Air Products		$4.85		$3.01			$4.29
Diluted EPS Attributable to Air Products
Income from continuing operations		$4.74		$3.00			$4.97
Loss from discontinued operations		—		(.04	)		(.82	)
Net Income Attributable to Air Products		$4.74		$2.96			$4.15

Income Taxes (Tables)

12 Months Ended

Sep. 30, 2010

Income Taxes

Schedule of Components of Income Taxes


	2010		2009			2008
Federal
Current		$100.5		$88.1			$131.7
Deferred		47.4		18.1			3.1
		147.9		106.2			134.8
State
Current		2.7		35.8			2.8
Deferred		4.3		(20.9	)		11.0
		7.0		14.9			13.8
Foreign
Current		140.1		113.7			193.9
Deferred		44.5		(49.5	)		22.8
		184.6		64.2			216.7
		$339.5		$185.3			$365.3

Components of Deferred Taxes


30 September	2010			2009
Gross Deferred Tax Assets
Retirement benefits and compensation accruals		$491.0			$508.9
Tax loss carryforwards		62.2			78.7
Tax credits		67.4			74.5
Reserves and accruals		75.4			66.6
Acquisition-related costs		35.9			—
Unremitted earnings of foreign entities		.8			—
Asset impairment		6.7			26.9
Currency losses		29.5			80.4
Other		152.4			167.1
Valuation allowance		(55.4	)		(31.9	)
Deferred Tax Assets		865.9			971.2
Gross Deferred Tax Liabilities
Plant and equipment		840.9			896.2
Investment in partnerships		5.6			10.5
Unrealized gain on cost investments		11.8			5.8
Unremitted earnings of foreign entities		—			2.6
Intangible assets		57.0			26.1
Other		76.5			111.3
Deferred Tax Liabilities		991.8			1,052.5
Net Deferred Income Tax Liability		$125.9			$81.3

Effective Tax Rate Reconciliation


(Percent of income before taxes)	2010			2009			2008
U.S. federal statutory tax rate		35.0	%		35.0	%		35.0	%
State taxes, net of federal benefit		.3			1.1			.8
Income from equity affiliates		(3.0	)		(4.7	)		(3.3	)
Foreign taxes and credits		(8.3	)		(7.3	)		(6.1	)
Domestic production activities		(.6	)		(1.1	)		(.6	)
Tax audit settlements and adjustments		—			(.8	)		—
Donation of investments		(.4	)		—			—
Other		1.4			(.1)			(1.1	)
Effective Tax Rate		24.4	%		22.1	%		24.7	%

Schedule of Income U.S. and Foreign Operations Before Taxes and Noncontrolling Interest


	2010		2009		2008
Income from Continuing Operations
United States		$464.5		$374.3		$479.5
Foreign		802.6		350.1		854.3
Income from equity affiliates		126.9		112.2		145.0
Total		$1,394.0		$836.6		$1,478.8

Schedule of Reconciliation of Unrecognized Tax Benefits


Unrecognized Tax Benefits	2010			2009			2008
Balance at beginning of year		$194.9			$184.1			$116.5
Additions for tax positions of the current year		37.3			25.6			58.3
Additions for tax positions of prior years		13.1			39.0			20.1
Reductions for tax positions of prior years		(1.1	)		(45.2	)		(5.2	)
Settlements		—			(5.4	)		(4.6	)
Statute of limitations expiration		(6.3	)		(5.4	)		(3.4	)
Foreign currency translation		(4.2	)		2.2			2.4
Balance at End of Year		$233.7			$194.9			$184.1

Schedule of Major Tax Jurisdictions


Major Tax Jurisdiction	Open Tax Years
North America
United States		2007-2010
Canada		2006-2010
Europe
United Kingdom		2007-2010
Germany		2006-2010
Netherlands		2005-2010
Poland		2004-2010
Spain		2005-2010
Asia
China		2005-2010
Taiwan		2005-2010
Korea		2005-2010

Supplemental Information (Tables)

12 Months Ended

Sep. 30, 2010

Supplemental Information

Schedule of Other Receivables and Current Assets


Other Receivables and Current Assets
30 September	2010		2009
Deferred tax assets		$124.1		$206.6
Derivative instruments		42.6		54.1
Other receivables		120.7		89.9
Current capital lease receivables		39.1		32.6
Other		45.6		21.6
		$372.1		$404.8

Schedule of Other Noncurrent Assets

Other Noncurrent Assets
30 September	2010		2009
Restricted cash		$95.7		$129.0
Derivative instruments		71.8		25.1
Other long-term receivables		61.6		72.6
Airgas investment		102.5		—
Other investments		1.1		19.4
Deferred tax assets		85.5		71.5
Prepaid pension benefit cost		—		8.4
Other deferred charges		119.1		112.0
		$537.3		$438.0

Schedule of Payables and Accrued Liabilities

Payables and Accrued Liabilities
30 September	2010		2009
Trade creditors		$662.2		$577.6
Customer advances		80.7		72.6
Accrued payroll and employee benefits		207.5		138.8
Pension benefits		238.8		347.9
Dividends payable		104.8		95.1
Outstanding payments in excess of certain cash balances		31.4		25.2
Accrued interest expense		52.9		59.2
Derivative instruments		31.9		61.3
Global cost reduction plan accrual		1.9		110.4
Acquisition-related accrual		117.7		—
Miscellaneous		171.2		172.3
Current liabilities of discontinued operations		1.0		14.4
		$1,702.0		$1,674.8

Schedule of Other Noncurrent Liabilities

Other Noncurrent Liabilities

30 September

2010

2009

Pension benefits

$803.2

$795.5

Postretirement benefits

107.2

102.5

Other employee benefits

103.5

105.1

Contingencies related to uncertain tax positions

228.8

193.5

Advance payments

69.6

90.5

Environmental liabilities

79.9

93.4

Liability related to purchase of shares from noncontrolling interests

42.0

—

Derivative instruments

22.3

48.4

Miscellaneous

112.8

93.1

$1,569.3

$1,522.0

Schedule of Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)
30 September	2010		2009
Net unrealized holding gain on investments	$20.7		$10.5
Net unrecognized (loss) on derivatives qualifying as hedges	(21.9	)	(25.1	)
Foreign currency translation adjustments	(44.1	)	(179.8	)
Pension and postretirement benefits	(1,114.1	)	(967.4	)
	$(1,159.4	)	$(1,161.8	)

Schedule of Other Income (Expenses), Net

Other Income (Expenses), Net	2010		2009		2008
Technology and royalty income	$19.0		$19.5		$18.6
Interest income	3.4		7.4		8.2
Foreign exchange	4.0		(3.8	)	3.6
Sale of assets and investments	13.2		(3.0	)	6.5
Amortization of intangibles	(8.4	)	(10.1	)	(9.8	)
Property damage and related expenses, net of insurance recoveries	4.1		4.9		(13.5	)
Miscellaneous	3.4		8.1		12.2
	$38.7		$23.0		$25.8

Summary by Quarter (Unaudited) (Tables)

12 Months Ended

Sep. 30, 2010

Sep. 30, 2009

Summary by Quarter (Unaudited)

Schedule Summarizing Quarterly Operating Results

2010

First

Second

Third

Fourth

Total

Sales

$2,173.5

$2,249.0

$2,252.3

$2,351.2

$9,026.0

Gross profit

604.9

620.3

641.2

656.6

2,523.0

Acquisition-related costs

—

23.4

37.9

34.7

96.0

Customer bankruptcy

—

(1.8

)

(4.6

)

(6.4

)

Pension settlement

—

6.3

5.2

11.5

Operating income

345.0

340.6

336.4

367.0

1,389.0

Net income

256.8

258.4

261.3

278.0

1,054.5

Net income attributable to Air Products

251.8

252.0

253.2

272.1

1,029.1

Basic EPS attributable to Air Products

Net income per common share

1.19

1.28

4.85

Diluted EPS attributable to Air Products

Net income per common share

1.16

1.17

1.25

4.74

Dividends declared per common share

.45

.49

1.92

Market price per common share:

High

85.44

83.80

80.24

84.43

Low

73.76

65.05

64.47

64.13

2009		First			Second		Third			Fourth			Total
Sales			$2,195.3			$1,955.4		$1,976.2			$2,129.3			$8,256.2
Gross profit			565.5			515.6		548.7			584.3			2,214.1
Global cost reduction plan			174.2			—		124.0			—			298.2
Customer bankruptcy			—			—		22.2			—			22.2
Pension settlement			—			—		8.0			2.7			10.7
Operating income			114.1			260.4		143.8			328.0			846.3
Income from continuing operations-attributable to Air Products			90.0			189.3		114.6			246.0			639.9
Income (loss) from discontinued operations-attributable to Air Products			(21.4	)		16.3		(1.4	)		(2.1	)		(8.6	)
Net income			73.6			207.2		118.0			243.9			642.7
Net income attributable to Air Products			68.6			205.6		113.2			243.9			631.3
Basic EPS attributable to Air Products
Income from continuing operations			.43			.90		.55			1.17			3.05
Income (loss) from discontinued operations			(.10	)		.08		(.01	)		(.01	)		(.04	)
Net income per common share			.33			.98		.54			1.16			3.01
Diluted EPS attributable to Air Products
Income from continuing operations			.42			.89		.54			1.14			3.00
Income (loss) from discontinued operations			(.10	)		.08		(.01	)		(.01	)		(.04	)
Net income per common share			.32			.97		.53			1.13			2.96
Dividends declared per common share			.44			.45		.45			.45			1.79
Market price per common share:	High		68.51			60.20		69.93			80.60
	Low		41.46			43.44		54.73			60.52

Business Segment and Geographic Information (Tables)

12 Months Ended

Sep. 30, 2010

Business Segment and Geographic Information

Schedule of Segment Revenue from External Customers

Revenue from External Customers	2010		2009		2008
Merchant Gases		$3,718.3		$3,610.6		$4,192.7
Tonnage Gases		2,930.8		2,573.6		3,574.4
Electronics and Performance Materials		1,904.7		1,582.2		2,209.3
Equipment and Energy		472.2		489.8		438.1
Segment and Consolidated Totals		$9,026.0		$8,256.2		$10,414.5

Schedule of Segment Operating Income

Operating Income	2010			2009			2008
Merchant Gases		$729.4			$661.2			$789.5
Tonnage Gases		444.2			399.6			482.6
Electronics and Performance Materials		251.8			101.6			245.9
Equipment and Energy		67.3			42.2			38.9
Segment Total		$1,492.7			$1,204.6			$1,556.9
Global cost reduction plan^(A)		—			(298.2	)		—
Acquisition-related costs		(96.0	)		—			—
Customer bankruptcy and asset actions		6.4			(32.1	)		—
Pension settlement		(11.5	)		(10.7	)		(30.3	)
Other		(2.6	)		(17.3	)		(30.8	)
Consolidated Total		$1,389.0			$846.3			$1,495.8

^(A)

Information about how this charge related to the businesses at the segment level is discussed in Note 5, Global Cost Reduction Plan.

Schedule of Segment Depreciation and Amortization

Depreciation and Amortization	2010		2009		2008
Merchant Gases		$377.9		$372.3		$370.2
Tonnage Gases		303.0		272.2		278.9
Electronics and Performance Materials		169.0		178.2		208.0
Equipment and Energy		12.7		15.9		11.8
Segment Total		$862.6		$838.6		$868.9
Other		.8		1.7		.1
Consolidated Total		$863.4		$840.3		$869.0

Schedule of Segment Equity Affiliates' Income

Equity Affiliates' Income	2010		2009		2008
Merchant Gases		$104.3		$98.3		$131.8
Other segments		22.6		13.9		13.2
Segment and Consolidated Totals		$126.9		$112.2		$145.0

Schedule of Segment Total Assets

Total Assets	2010		2009		2008
Merchant Gases		$5,824.7		$5,630.8		$5,565.9
Tonnage Gases		3,958.1		3,672.0		3,397.8
Electronics and Performance Materials		2,336.1		2,299.1		2,388.8
Equipment and Energy		362.7		333.8		328.3
Segment Total		$12,481.6		$11,935.7		$11,680.8
Other		1,022.3		1,088.4		775.2
Discontinued Operations		2.0		5.0		115.3
Consolidated Total		$13,505.9		$13,029.1		$12,571.3

Schedule of Segment Investment in and Advances to Equity Affiliates


Investment in and Advances to Equity Affiliates	2010		2009		2008
Merchant Gases		$749.4		$713.8		$684.3
Other segments		163.4		154.3		138.3
Segment and Consolidated Totals		$912.8		$868.1		$822.6

Schedule of Segment Identifiable Assets Information


Identifiable Assets	2010		2009		2008
Merchant Gases		$5,075.3		$4,917.0		$4,881.6
Tonnage Gases		3,876.4		3,597.8		3,335.4
Electronics and Performance Materials		2,275.8		2,249.5		2,341.0
Equipment and Energy		341.3		303.3		300.2
Segment Total		$11,568.8		$11,067.6		$10,858.2
Other		1,022.3		1,088.4		775.2
Discontinued Operations		2.0		5.0		115.3
Consolidated Total		$12,593.1		$12,161.0		$11,748.7

Schedule of Segment Expenditures for Long-Lived Assets


Expenditures for Long-Lived Assets	2010		2009		2008
Merchant Gases		$447.1		$515.4		$593.0
Tonnage Gases		557.2		556.5		387.9
Electronics and Performance Materials		139.4		165.2		198.8
Equipment and Energy		22.8		9.8		2.3
Segment Total		$1,166.5		$1,246.9		$1,182.0
Other		.8		1.1		1.7
Consolidated Total		$1,167.3		$1,248.0		$1,183.7

Schedule of Geographic Information - Revenue from External Customers


Revenues from External Customers	2010		2009		2008
United States		$4,110.2		$3,779.8		$4,845.1
Canada		260.3		238.6		241.2
Europe		2,819.7		2,765.1		3,448.0
Asia		1,621.0		1,294.2		1,661.3
Latin America/other		214.8		178.5		218.9
		$9,026.0		$8,256.2		$10,414.5

Schedule of Geographic Information - Long-Lived Assets

Long-Lived Assets	2010		2009		2008
United States		$3,184.2		$3,180.7		$3,017.0
Canada		608.8		535.2		441.9
Europe		2,779.7		2,873.3		3,048.6
Asia		2,221.0		1,973.0		1,815.3
Latin America		272.1		261.1		255.0
All other		98.6		83.0		77.3
		$9,164.4		$8,906.3		$8,655.1

Schedule II-Valuation and Qualifying Accounts (Tables)

12 Months Ended

Sep. 30, 2010

Schedule I I - Valuation and Qualifying Accounts

Schedule II - Valuation and Qualifying Accounts

AIR PRODUCTS AND CHEMICALS, INC. AND SUBSIDIARIES

SCHEDULE II–VALUATION AND QUALIFYING ACCOUNTS

For the Years Ended 30 September 2010, 2009, and 2008


			Additions						Other Changes Increase (Decrease)
	Balance at Beginning of Period		Charged to Expense			Charged to Other Accounts			Cumulative Translation Adjustment			Other ^(A)			Balance at End of Period
							(in millions of dollars)
Year Ended 30 September 2010
Allowance for doubtful accounts		$65		$4			$25			$—			$5			$99
Allowance for deferred tax assets		32		26			(2	)		(1	)		—			55

Year Ended 30 September 2009
Allowance for doubtful accounts		$36		$24			$14			$1			$(10	)		$65
Allowance for deferred tax assets		61		(30	)		—			1			—			32

Year Ended 30 September 2008
Allowance for doubtful accounts		$33		$10			$4			$—			$(11	)		$36
Allowance for deferred tax assets		33		36			—			—			(8	)		61

Note:

^(A)

Primarily write-offs of uncollectible trade receivable accounts and tax valuation allowances.

Major Accounting Policies (Schedule of the Principal Lives for Major Classes of Plant and Equipment) (Details)

12 Months Ended

Sep. 30, 2010

Average years of useful life

Merchant Gases, years

^[1]

Tonnage Gases, minimum years

^[1]

Tonnage Gases, maximum years

^[1]

Electronics and Performance Materials, minimum years

^[1]

Electronics and Performance Materials, maximum years

^[1]

Equipment and Energy, minimum years

^[1]

Equipment and Energy, maximum years

^[1]

Distribution equipment, minimum years

^[2]

Distribution equipment, maximum years

^[2]

Other machinery and equipment, minimum years

Other machinery and equipment, maximum years

Cylinders [Member]

Distribution equipment, minimum years

Distribution equipment, maximum years

Tanks [Member]

Average years of useful life

Customer Stations [Member]

Average years of useful life

7.5

Tractors and Trailers [Member]

Distribution equipment, minimum years

Distribution equipment, maximum years

[1]	Depreciable lives of production facilities related to long-term customer supply contracts associated with the tonnage gases business are matched to the contract lives.
[2]	The depreciable lives for various types of distribution equipment are 10 to 25 years for cylinders, depending on the nature and properties of the product; 20 years for tanks; 7.5 years for customer stations; 5 to 15 years for tractors and trailers.

Major Accounting Policies (Narrative) (Details) $ in Millions	12 Months Ended
	Sep. 30, 2010 USD ($)	Sep. 30, 2009 USD ($)	Sep. 30, 2008 USD ($)
Statement [Line Items]
Environmental liabilities payment period, years	30
Minimum percentage needed for an uncertain tax position to be sustained upon examination	50.00%
Provision for doubtful accounts	$ 29.5	$ 37.8	$ 14.4
Interest costs, capitalized during period	14.3	21.9	$ 22.1
Asset retirement obligation	$ 57.6	$ 43.5
SAP useful life	10
Period for reallocation of purchase price	1
Amortized period, minimum	5
Amortized period, maximum	25

Airgas Transaction (Narrative) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended			12 Months Ended
	Sep. 30, 2010	Jun. 30, 2010	Mar. 31, 2010	Sep. 30, 2010	Sep. 06, 2010	Feb. 28, 2010
Statement [Line Items]
Cash price per share of tender offer to purchase outstanding common stock of Airgas, Inc.					$ 65.50	$ 60.00
Total value of transaction					$ 7,400.0
Equity component of transaction					5,700.0
Debt component of transaction					$ 1,700.0
Number of shares purchased prior to tender offer	1.5			1.5
Airgas stock purchased prior to tender offer				$ 69.6
After-tax unrealized holding gain, Airgas				20.6
Size of term loan credit facility	$ 6,700.0			6,700.0
Transaction costs incurred during period	34.7	$ 37.9	$ 23.4	96.0
Transaction costs incurred during period after tax				$ 60.1
Transaction costs incurred during period after tax per share				$ 0.28
Total expected costs of transaction, minimum	150.0			$ 150.0
Total expected costs of transaction, maximum	$ 200.0			$ 200.0

Business Combinations (Narrative) (Details) € in Millions, $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2010 USD ($)	Sep. 30, 2010 EUR (€)	Sep. 30, 2010 USD ($)	Dec. 31, 2009 EUR (€)	Dec. 31, 2009 USD ($)	Sep. 30, 2009 USD ($)	Sep. 30, 2008 USD ($)	Mar. 31, 2010 EUR (€)	Mar. 31, 2010 USD ($)
Statement [Line Items]
Acquisitions			$ 37.2			$ 32.7	$ 72.0
Amortization term, identified intangible assets in years	23
French SAGA [Member]
Statement [Line Items]
Percentage of SAGA group shares to be acquired								100.00%	100.00%
SAGA revenues for calendar year 2009				€ 25.0	$ 35.0
Percentage of SAGA group shares purchased								51.47%	51.47%
Amount paid for SAGA group shares								€ 34.5	$ 47.2
Acquisitions	$ 25.0
Cash acquired in SAGA group transaction	$ 22.2
Purchase price for remaining shares		€ 44.8	$ 61.0
Values as of acquisition date, identifiable intangibles									42.5
Values as of acquisition date, plant and equipment									40.8
Values as of acquisition date, goodwill (deductible for tax purposes)									35.0
Values as of acquisition date, other net assets									12.7
Deferred tax liabilities recognized in transaction									$ 23.0
Acquisitions 2008 [Member]
Statement [Line Items]
Acquisitions							$ 72.0
Acquisitions 2009 [Member]
Statement [Line Items]
Acquisitions						$ 32.7

Global Cost Reduction Plan (Narrative) (Details)
$ / shares in Units, $ in Millions

3 Months Ended

12 Months Ended

Jun. 30, 2009

USD ($)

$ / shares

Dec. 31, 2008

USD ($)

$ / shares

Sep. 30, 2009

USD ($)

$ / shares

Sep. 30, 2010

USD ($)

Global Cost Reduction Plan

Global cost reduction plan charges

$ 124.0

$ 174.2

$ 298.2

^[1]

Global cost reduction plan charge incurred, after-tax amount

$ 84.2

$ 116.1

$ 200.3

Global cost reduction plan charge incurred, per share amount | $ / shares

$ 0.39

$ 0.55

$ 0.94

Severance, benefits and pension-related costs associated with workforce reduction

$ 210.0

Number of positions to be eliminated

2,550

Business exit costs

$ 88.2

Environmental charge

^[2]

$ 16.0

$ (1.5)

[1]	Information about how this charge related to the businesses at the segment level is discussed in Note 5, Global Cost Reduction Plan.
[2]	Reflected in accrual for environmental obligations. See Note 17, Commitments and Contingencies.

Global Cost Reduction Plan (Global Cost Reduction Plan as it relates to businesses at segment level) (Details) $ in Millions	12 Months Ended
	Sep. 30, 2009 USD ($)
Statement [Line Items]
Severance and Other Benefits	$ 210.0
Asset Impairments/Other Costs	88.2
Total	298.2
Merchant Gases [Member]
Statement [Line Items]
Severance and Other Benefits	127.5
Asset Impairments/Other Costs	7.2
Total	134.7
Tonnage Gases [Member]
Statement [Line Items]
Severance and Other Benefits	14.2
Total	14.2
Electronics and Performance Materials [Member]
Statement [Line Items]
Severance and Other Benefits	30.6
Asset Impairments/Other Costs	58.9
Total	89.5
Equipment and Energy [Member]
Statement [Line Items]
Severance and Other Benefits	37.7
Asset Impairments/Other Costs	22.1
Total	$ 59.8

Global Cost Reduction Plan (Table of Changes for the Global Cost Reduction Plan) (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Jun. 30, 2009

Dec. 31, 2008

Sep. 30, 2010

Sep. 30, 2009

Currency translation adjustment

Restructuring reserve

$ 124.0

$ 174.2

Environmental charge

^[1]

$ 1.5

$ (16.0)

Noncash items

(2.7)

(99.9)

Cash expenditures

(103.0)

(76.2)

(5.3)

4.3

Restructuring reserve, ending balance

1.9

110.4

Adjustment to charge

1.0

Severance and Other Benefits [Member]

Currency translation adjustment

Restructuring reserve

90.0

120.0

Noncash items

^[2]

(2.8)

(33.8)

Cash expenditures

(102.8)

(75.3)

(5.3)

4.3

Restructuring reserve, ending balance

1.9

105.2

Adjustment to charge

7.6

Asset Impairments/Other Costs [Member]

Restructuring reserve, ending balance

Restructuring reserve

$ 34.0

$ 54.2

Environmental charge

^[1]

1.5

(16.0)

Noncash items

0.1

(66.1)

Cash expenditures

(0.2)

(0.9)

$ 5.2

Adjustment to charge

$ (6.6)

[1]	Reflected in accrual for environmental obligations. See Note 17, Commitments and Contingencies.
[2]	Primarily pension-related costs, which are reflected in the accrual for pension benefits.

Discontinued Operations (US Healthcare) (Narrative) (Details) - USD ($)	3 Months Ended					12 Months Ended
	Sep. 30, 2009	Jun. 30, 2009	Mar. 31, 2009	Dec. 31, 2008	Jun. 30, 2008	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Statement [Line Items]
Impairment charge to write-down net realizable value of discontinued operations, gross								$ 329,200,000
Impairment charge to write-down net realizable value of discontinued operations, after-tax								$ 246,200,000
Impairment charge to write-down net realizable value of discontinued operations, per share								$ 1.12
Revise estimated tax benefit of previous impairment charges						$ 339,500,000	$ 185,300,000	$ 365,300,000
Cash proceeds from disposal							51,000,000	423,000,000
US Healthcare [Member]
Statement [Line Items]
Impairment charge to write-down net realizable value of discontinued operations, gross				$ 48,700,000	$ 314,800,000			14,400,000
Impairment charge to write-down net realizable value of discontinued operations, after-tax				$ 30,900,000	$ 237,000,000			$ 9,200,000
Impairment charge to write-down net realizable value of discontinued operations, per share				$ 0.15	$ 1.09			$ 0.04
Impairment of goodwill					$ 294,300,000
Impairment of intangible assets (excluding goodwill)					11,700,000
Impairment of property, plant and equipment					7,800,000
Other asset impairment charges					1,000,000
Impairment reduced carrying amount of goodwill and intangible assets					$ 0
Revise estimated tax benefit of previous impairment charges			$ 16,700,000	$ 8,800,000
Revise estimated tax benefit of previous impairment charges, per share				$ 0.04
One-time tax benefit resulting from events in second quarter 2009, per share			$ 0.08
Cash proceeds from disposal	$ 12,100,000	$ 38,100,000
Discontinued operation, gain (loss) on disposal of discontinued operation, net of tax	700,000	$ 300,000
Assets classified as discontinued operations	5,000,000						5,000,000
Liabilities classified as discontinued operations	$ 14,400,000						$ 14,400,000

Discontinued Operations (Table of Operating Results of Discontinued Operations) (U.S. Healthcare) (Details) - USD ($) $ in Millions	3 Months Ended				12 Months Ended
	Sep. 30, 2009	Jun. 30, 2009	Mar. 31, 2009	Dec. 31, 2008	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Statement [Line Items]
Income (loss) from discontinued operations-attributable to Air Products	$ (2.1)	$ (1.4)	$ 16.3	$ (21.4)		$ (8.6)	$ (175.4)
Income (loss) from Discontinued Operations, net of tax						(8.6)	(180.8)
US Healthcare [Member]
Statement [Line Items]
Sales						125.2	239.8
Loss before taxes						(5.5)	(350.6)
Income tax benefit						(2.1)	(91.2)
Income (loss) from discontinued operations-attributable to Air Products						(3.4)	(259.4)
Loss on sale of businesses and impairment/write-down to estimated net realizable value, net of tax						(5.5)	(8.7)
Income (loss) from Discontinued Operations, net of tax						$ (8.9)	$ (268.1)

Discontinued Operations (Polymer Emulsions) (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended		3 Months Ended	12 Months Ended
	Jun. 30, 2008	Jan. 31, 2008	Mar. 31, 2008	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Statement [Line Items]
Cash proceeds from disposal					$ 51.0	$ 423.0
Environmental obligation expense associated with the Piedmont site	$ 24.0
Environmental obligation expense associated with the Piedmont site, after-tax	$ 14.5
Environmental obligation expense associated with the Piedmont site, per share	$ 0.07
Polymer Emulsions Business [Member]
Statement [Line Items]
Cash proceeds from disposal		$ 258.2
Gain on sale of business, before tax			$ 89.5			$ 26.3
Gain (loss) from discontinued operations, net of tax			$ 57.7
Gain (loss) from discontinued operations, net of tax, per share			$ 0.26
Elkton and Piedmont Facilities [Member]
Statement [Line Items]
Cash proceeds from disposal	$ 92.0
Gain on sale of business, before tax	30.5
Gain (loss) from discontinued operations, net of tax	$ 18.5
Gain (loss) from discontinued operations, net of tax, per share	$ 0.08

Discontinued Operations (Table of Operating Results of Discontinued Operations) (Polymer Emulsions Business) (Details) - USD ($) $ in Millions	3 Months Ended					12 Months Ended
	Sep. 30, 2009	Jun. 30, 2009	Mar. 31, 2009	Dec. 31, 2008	Mar. 31, 2008	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Statement [Line Items]
Income (loss) from discontinued operations-attributable to Air Products	$ (2.1)	$ (1.4)	$ 16.3	$ (21.4)			$ (8.6)	$ (175.4)
Income (loss) from Discontinued Operations, net of tax							(8.6)	(180.8)
Polymer Emulsions Business [Member]
Statement [Line Items]
Sales								261.4
Income before taxes					$ 89.5			26.3
Income tax provision								9.6
Income (loss) from discontinued operations-attributable to Air Products								16.7
Gain (loss) on sale of business, net of tax							0.3	76.2
Income from discontinued operations, net of tax							0.3	92.9
Less: Income from discontinued operations attributable to noncontrolling interests, net of tax								5.4
Income (loss) from Discontinued Operations, net of tax							$ 0.3	$ 87.5

Discontinued Operations (HPPC) (Narrative) (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Oct. 31, 2007	Sep. 30, 2009	Sep. 30, 2008
Statement [Line Items]
Cash proceeds from disposal		$ 51.0	$ 423.0
HPPC Business [Member]
Statement [Line Items]
Cash proceeds from disposal	$ 69.3

Discontinued Operations (Table of Operating Results of Discontinued Operations) (HPPC Business) (Details) - USD ($) $ in Millions	3 Months Ended				12 Months Ended
	Sep. 30, 2009	Jun. 30, 2009	Mar. 31, 2009	Dec. 31, 2008	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Statement [Line Items]
Income (loss) from discontinued operations-attributable to Air Products	$ (2.1)	$ (1.4)	$ 16.3	$ (21.4)		$ (8.6)	$ (175.4)
Income (loss) from Discontinued Operations, net of tax						(8.6)	(180.8)
HPPC Business [Member]
Statement [Line Items]
Sales							22.9
Income before taxes							0.1
Income tax provision
Income (loss) from discontinued operations-attributable to Air Products							0.1
Gain (loss) on sale of business, net of tax							(0.3)
Income (loss) from Discontinued Operations, net of tax							$ (0.2)

Discontinued Operations (Table of Operating Results of Discontinued Operations) (Details) - USD ($) $ in Millions	3 Months Ended				12 Months Ended
	Sep. 30, 2009	Jun. 30, 2009	Mar. 31, 2009	Dec. 31, 2008	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Statement [Line Items]
Loss from discontinued operations, net of tax	$ (2.1)	$ (1.4)	$ 16.3	$ (21.4)		$ (8.6)	$ (175.4)
Income (loss) from Discontinued Operations, net of tax						(8.6)	(180.8)
US Healthcare, Polymers Emulsions and HPPC Businesses [Member]
Statement [Line Items]
Sales						125.2	524.1
Loss before taxes						(5.5)	(324.2)
Income tax benefit						(2.1)	(81.6)
Loss from operations of discontinued operations						(3.4)	(242.6)
Gain (loss) on sale of businesses and impairment/write-down to estimated net realizable value, net of tax						(5.2)	67.2
Loss from discontinued operations, net of tax						(8.6)	(175.4)
Less: Income from discontinued operations attributable to noncontrolling interests, net of tax							5.4
Income (loss) from Discontinued Operations, net of tax						$ (8.6)	$ (180.8)

Inventories (Schedule of Inventory) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2009	Sep. 30, 2010
Inventories
Finished goods	$ 405.5	$ 405.3
Work in process	20.9	29.3
Raw materials and supplies	151.1	208.2
Total FIFO value	577.5	642.8
Less: Excess of FIFO cost over LIFO cost	(67.9)	(71.2)
Inventories	$ 509.6	$ 571.6
Percentage of LIFO inventory	40.50%	40.50%
Effect of LIFO inventory liquidation on income	$ 0.0

Summarized Financial Information of Equity Affiliates (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Statement [Line Items]
Percentage of ownership in equity affiliate			72.00%
Dividends received from equity affiliates	$ 75.4	$ 52.9	$ 65.3
Equity affiliate investment in net assets of and advances included in investment in foreign affiliates	877.7	834.7
Total goodwill associated with affiliate companies accounted for by the equity method	$ 60.2	$ 56.1
Bangkok Industrial Gases Company Ltd. [Member]
Statement [Line Items]
Percentage of ownership in equity affiliate	49.00%
Chengdu Air & Gas Products Ltd. [Member]
Statement [Line Items]
Percentage of ownership in equity affiliate	50.00%
Daido Air Products Electronics, Inc. [Member]
Statement [Line Items]
Percentage of ownership in equity affiliate	20.00%
DuPont Air Products Nanomaterials, LLC [Member]
Statement [Line Items]
Percentage of ownership in equity affiliate	50.00%
Helap S.A. [Member]
Statement [Line Items]
Percentage of ownership in equity affiliate	50.00%
High-Tech Gases (Beijing) Co., Ltd. [Member]
Statement [Line Items]
Percentage of ownership in equity affiliate	50.00%
INFRA Group [Member]
Statement [Line Items]
Percentage of ownership in equity affiliate	40.00%
INOX Air Products Limited (INOX) [Member]
Statement [Line Items]
Percentage of ownership in equity affiliate	50.00%
Kulim Industrial Gases Sdn. Bhd [Member]
Statement [Line Items]
Percentage of ownership in equity affiliate	50.00%
Sapio Produzione Idrogeno Ossigeno S.r.l. [Member]
Statement [Line Items]
Percentage of ownership in equity affiliate	49.00%
SembCorp Air Products (HyCO) Pte. Ltd. [Member]
Statement [Line Items]
Percentage of ownership in equity affiliate	40.00%
Tecnologia en Nitrogeno S. de R.L. de C.V. [Member]
Statement [Line Items]
Percentage of ownership in equity affiliate	50.00%
Tyczka Industrie-Gases GmbH [Member]
Statement [Line Items]
Percentage of ownership in equity affiliate	50.00%
WuXi Hi-Tech Gas Co, Ltd [Member]
Statement [Line Items]
Percentage of ownership in equity affiliate	50.00%
Air Products South Africa [Member]
Statement [Line Items]
Percentage of ownership in equity affiliate	50.00%
Bangkok Cogeneration Company Limited [Member]
Statement [Line Items]
Percentage of ownership in equity affiliate	49.00%

Summarized Financial Information of Equity Affiliates (Table of Summarized Financial Information of Equity Affiliates) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009
Summarized Financial Information of Equity Affiliates
Current assets	$ 1,133.4	$ 1,185.2
Noncurrent assets	2,071.6	1,916.9
Current liabilities	788.9	714.5
Noncurrent liabilities	559.9	677.3
Net sales	2,293.4	2,129.7
Sales less cost of sales	964.4	874.4
Net income	$ 293.0	$ 257.7

Plant and Equipment (Schedule of Major Classes of Plant and Equipment at Cost) (Details) - USD ($) $ in Millions	Sep. 30, 2010	Sep. 30, 2009
Statement [Line Items]
Plant and Equipment, at cost	$ 16,309.7	$ 15,751.3
Land [Member]
Statement [Line Items]
Plant and Equipment, at cost	172.3	169.4
Buildings [Member]
Statement [Line Items]
Plant and Equipment, at cost	886.2	875.5
Production facilities [Member]
Statement [Line Items]
Plant and Equipment, at cost	11,395.4	10,707.1
Distribution equipment [Member]
Statement [Line Items]
Plant and Equipment, at cost	2,918.6	2,802.5
Other machinery and equipment [Member]
Statement [Line Items]
Plant and Equipment, at cost	248.0	273.1
Construction in progress [Member]
Statement [Line Items]
Plant and Equipment, at cost	689.2	923.7
Merchant Gases [Member] \| Production facilities [Member]
Statement [Line Items]
Plant and Equipment, at cost	3,346.3	3,071.0
Tonnage Gases [Member] \| Production facilities [Member]
Statement [Line Items]
Plant and Equipment, at cost	5,691.4	5,441.7
Electronics and Performance Materials [Member] \| Production facilities [Member]
Statement [Line Items]
Plant and Equipment, at cost	2,061.2	1,907.6
Equipment and Energy [Member] \| Production facilities [Member]
Statement [Line Items]
Plant and Equipment, at cost	$ 296.5	$ 286.8

Plant and Equipment (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Plant and Equipment
Depreciation	$ 837.7	$ 815.9	$ 848.0

Goodwill (Schedule of Goodwill by Segment) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009
Statement [Line Items]
Goodwill, Beginning Balance	$ 916.0	$ 928.1
Goodwill, Acquisitions and Adjustments	18.5	11.9
Goodwill, Currency Translation and Other	(19.9)	(24.0)
Goodwill, Ending Balance	914.6	916.0
Merchant Gases [Member]
Statement [Line Items]
Goodwill, Beginning Balance	601.3	626.5
Goodwill, Acquisitions and Adjustments	19.1	1.9
Goodwill, Currency Translation and Other	(24.7)	(27.1)
Goodwill, Ending Balance	595.7	601.3
Tonnage Gases [Member]
Statement [Line Items]
Goodwill, Beginning Balance	16.3	18.0
Goodwill, Acquisitions and Adjustments	(0.9)
Goodwill, Currency Translation and Other	0.1	(1.7)
Goodwill, Ending Balance	15.5	16.3
Electronics and Performance Materials [Member]
Statement [Line Items]
Goodwill, Beginning Balance	298.4	283.6
Goodwill, Acquisitions and Adjustments	0.3	10.0
Goodwill, Currency Translation and Other	4.7	4.8
Goodwill, Ending Balance	$ 303.4	$ 298.4

Goodwill (Narrative) (Details) $ in Millions	12 Months Ended
Goodwill (Narrative) (Details) $ in Millions	Sep. 30, 2010 USD ($)
Statement [Line Items]
SAGA - acquisition	$ 35.0
Goodwill - adjustment	$ 16.9

Intangible Assets (Schedule of Acquired Intangible Assets) (Details) - USD ($) $ in Millions	Sep. 30, 2010	Sep. 30, 2009
Statement [Line Items]
Gross	$ 455.6	$ 406.8
Accumulated Amortization	(169.9)	(144.2)
Net	285.7	262.6
Customer relationships [Member]
Statement [Line Items]
Gross	283.3	250.0
Accumulated Amortization	(62.7)	(51.4)
Net	220.6	198.6
Patents and technology [Member]
Statement [Line Items]
Gross	99.0	107.3
Accumulated Amortization	(73.6)	(69.0)
Net	25.4	38.3
Other intangible assets [Member]
Statement [Line Items]
Gross	73.3	49.5
Accumulated Amortization	(33.6)	(23.8)
Net	$ 39.7	$ 25.7

Intangible Assets (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Intangible Assets
Finite-lived intangible assets, amortization expense	$ 25.7	$ 24.4	$ 21.0

Intangible Assets (Schedule of Intangible Assets Projected Amortization) (Details) $ in Millions	12 Months Ended
	Sep. 30, 2010 USD ($)
Statement [Line Items]
2011	$ 21.1
2012	18.9
2013	18.4
2014	17.7
2015	17.3
Thereafter	192.3
Total	$ 285.7

Leases (Lessee and Lessor Accounting) (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Leases
Capital leases	$ 18.2	$ 27.3
Capital lease accumulated depreciation	12.1	17.5
Operating leases, rent expense	93.0	89.9	$ 97.2
Capital lease obligations, current	1.4	2.7
Capital lease obligations, long-term	8.4	6.2
Future capital lease payment		8.9
Lease payments collected	$ 68.0	$ 53.6	$ 33.7

Leases (Schedule of Minimum Lease Payments Due) (Details) $ in Millions	Sep. 30, 2010 USD ($)
Leases
Capital leases, future minimum payments due 2011	$ 1.8
Capital leases, future minimum payments due 2012	1.8
Capital leases, future minimum payments due 2013	1.7
Capital leases, future minimum payments due 2014	1.5
Capital leases, future minimum payments due 2015	1.5
Capital leases, future minimum payments due thereafter	2.8
Capital leases, future minimum payments due, Total	11.1
Operating leases, future minimum payments due 2011	50.1
Operating leases, future minimum payments due 2012	38.3
Operating leases, future minimum payments due 2013	27.6
Operating leases, future minimum payments due 2014	17.7
Operating leases, future minimum payments due 2015	13.5
Operating leases, future minimum payments due thereafter	42.7
Operating leases, future minimum payments due, Total	$ 189.9

Leases (Schedule of Lease Receivables) (Details) - USD ($) $ in Millions	Sep. 30, 2010	Sep. 30, 2009
Leases
Gross minimum lease payments receivable	$ 1,195.5	$ 1,068.9
Unearned interest income	(386.0)	(349.3)
Net Lease Receivable	$ 809.5	$ 719.6

Leases (Schedule of Minimum Lease Payments to be Collected) (Details) $ in Millions	Sep. 30, 2010 USD ($)
Leases
2011	$ 93.2
2012	95.6
2013	93.9
2014	92.3
2015	90.0
Thereafter	730.5
Total future minimum operating leases payments receivable	$ 1,195.5

Financial Instruments (Schedule of Outstanding Currency Price Risk Management Instruments) (Details) - Forward Exchange Contract [Member] - USD ($) $ in Millions	Sep. 30, 2010	Sep. 30, 2009
Statement [Line Items]
US$ Notional	$ 2,627.6	$ 3,005.9
Years average maturity	1.1	1.6
Cash Flow Hedges [Member]
Statement [Line Items]
US$ Notional	$ 1,605.5	$ 1,620.7
Years average maturity	.5	.8
Net Investment Hedges [Member]
Statement [Line Items]
US$ Notional	$ 648.5	$ 873.6
Years average maturity	3.0	3.5
Fair Value Hedges [Member]
Statement [Line Items]
US$ Notional		$ 2.7
Years average maturity	-	.4
Hedges Not Designated [Member]
Statement [Line Items]
US$ Notional	$ 373.6	$ 508.9
Years average maturity	.2	.6

Financial Instruments (Options Contract) (Narrative) (Details) € in Millions, $ in Millions	Sep. 30, 2010 TWD ($)	Sep. 30, 2010 EUR (€)	Sep. 30, 2009 TWD ($)	Sep. 30, 2009 EUR (€)
Statement [Line Items]
Amounts included in designated foreign currency denominated debt \| $	$ 967.0		$ 965.0
Foreign Debt Securities [Member]
Statement [Line Items]
Amounts included in designated foreign currency denominated debt		€ 782.1		€ 1,013.0
Intercompany Loan [Member]
Statement [Line Items]
Amounts included in qualifying intercompany loans		€ 437.0		€ 437.0

Financial Instruments (Schedule of Cross Currency Interest Rate Swaps) (Details) - USD ($) $ in Millions	Sep. 30, 2010	Sep. 30, 2009
Interest Rate Swaps Contracts [Member]
Statement [Line Items]
US$ Notional	$ 617.0	$ 327.2
Pay %	LIBOR	LIBOR
Average Receive %	3.66%	4.47%
Years Average Maturity	3.8	1.7
Cross currency interest rate swaps (net investment hedge) [Member]
Statement [Line Items]
US$ Notional	$ 32.2	$ 32.2
Pay %	5.54%	5.54%
Average Receive %	5.48%	5.48%
Years Average Maturity	3.5	4.5

Financial Instruments (Schedule of Commodity Contracts) (Details) - Energy [Member] - Commodity Contract [Member] $ in Millions	Sep. 30, 2009 USD ($)
Statement [Line Items]
Notional amount	$ 18.5
Years average maturity	<font class="_mt">.2</font>

Financial Instruments (Fair Value of Derivative Instruments) (Details) - USD ($) $ in Millions	Sep. 30, 2010	Sep. 30, 2009
Statement [Line Items]
Total Derivatives Designated as Hedging Instruments, Assets	$ 108.2	$ 63.7
Total Derivatives Designated as Hedging Instruments, Liabilities	45.9	91.8
Derivatives Not Designated as Hedging Instruments, Assets	6.2	15.5
Derivatives Not Designated as Hedging Instruments, Liabilities	8.3	17.9
Total Derivatives, Assets	114.4	79.2
Total Derivatives, Liabilities	54.2	109.7
Other Noncurrent Assets [Member] \| Interest Rate Swaps Contracts [Member]
Statement [Line Items]
Total Derivatives Designated as Hedging Instruments, Assets	33.1	15.1
Other Noncurrent Assets [Member] \| Forward Exchange Contract [Member]
Statement [Line Items]
Total Derivatives Designated as Hedging Instruments, Assets	38.7	6.8
Derivatives Not Designated as Hedging Instruments, Assets		3.2
Other Receivables [Member] \| Commodity Swaps Contracts [Member]
Statement [Line Items]
Total Derivatives Designated as Hedging Instruments, Assets		4.3
Other Receivables [Member] \| Interest Rate Swaps Contracts [Member]
Statement [Line Items]
Total Derivatives Designated as Hedging Instruments, Assets	6.6
Other Receivables [Member] \| Forward Exchange Contract [Member]
Statement [Line Items]
Total Derivatives Designated as Hedging Instruments, Assets	29.8	37.5
Derivatives Not Designated as Hedging Instruments, Assets	6.2	12.3
Accrued Liabilities [Member] \| Commodity Swaps Contracts [Member]
Statement [Line Items]
Total Derivatives Designated as Hedging Instruments, Liabilities		2.4
Accrued Liabilities [Member] \| Interest Rate Swaps Contracts [Member]
Statement [Line Items]
Total Derivatives Designated as Hedging Instruments, Liabilities	1.3	0.4
Accrued Liabilities [Member] \| Forward Exchange Contract [Member]
Statement [Line Items]
Total Derivatives Designated as Hedging Instruments, Liabilities	22.3	43.8
Derivatives Not Designated as Hedging Instruments, Liabilities	8.3	14.7
Other Noncurrent Liabilities [Member] \| Interest Rate Swaps Contracts [Member]
Statement [Line Items]
Total Derivatives Designated as Hedging Instruments, Liabilities	2.4	3.0
Other Noncurrent Liabilities [Member] \| Forward Exchange Contract [Member]
Statement [Line Items]
Total Derivatives Designated as Hedging Instruments, Liabilities	19.9	42.2
Derivatives Not Designated as Hedging Instruments, Liabilities		$ 3.2

Financial Instruments (Schedule of the Gain/Loss Related to Derivative Instruments) (Details) - USD ($)
$ in Millions

12 Months Ended

Sep. 30, 2010

Sep. 30, 2009

Net (gain) loss recognized in OCI (effective portion)

$ 11.6

$ 4.5

Net gain (loss) reclassified from OCI to sales/cost of sales (effective portion)

(8.8)

1.2

Net gain (loss) reclassified from OCI to other (income) expense (effective portion)

(6.2)

(1.0)

Net gain (loss) reclassified from OCI to other (income) expense (ineffective portion)

0.2

0.5

Net (gain) loss recognized in other (income) expense

(168.6)

76.7

^[1]

24.7

14.5

Forward Exchange Contract [Member]

Net (gain) loss recognized in OCI (effective portion)

11.3

7.2

Net gain (loss) reclassified from OCI to sales/cost of sales (effective portion)

(10.8)

(4.1)

Net gain (loss) reclassified from OCI to other (income) expense (effective portion)

(6.2)

(1.0)

Net gain (loss) reclassified from OCI to other (income) expense (ineffective portion)

0.2

0.5

Net (gain) loss recognized in other (income) expense

(58.4)

27.1

^[1]

24.7

14.5

Foreign Debt Securities [Member]

Net (gain) loss recognized in OCI (effective portion)

Net gain (loss) reclassified from OCI to sales/cost of sales (effective portion)

Net gain (loss) reclassified from OCI to other (income) expense (effective portion)

Net gain (loss) reclassified from OCI to other (income) expense (ineffective portion)

Net (gain) loss recognized in other (income) expense

(109.8)

52.0

^[1]

Other Contracts [Member]

Net (gain) loss recognized in OCI (effective portion)

^[2]

0.3

(2.7)

Net gain (loss) reclassified from OCI to sales/cost of sales (effective portion)

^[2]

2.0

5.3

Net gain (loss) reclassified from OCI to other (income) expense (effective portion)

^[2]

Net gain (loss) reclassified from OCI to other (income) expense (ineffective portion)

^[2]

Net (gain) loss recognized in other (income) expense

^[2]

(0.4)

(2.4)

^[1],[2]

[1]	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 nonfunctional currencies.
[2]	Other includes the impact on other comprehensive income (OCI) and earnings related to commodity swap contracts and interest rate swaps.

Financial Instruments (Credit Risk-Related Contingent Features) (Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2010	Sep. 30, 2009
Financial Instruments
The net liability position of derivatives with credit risk-related contingent features	$ 4.2	$ 35.0

Financial Instruments (Counterparty Credit Risk Management) (Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2010	Sep. 30, 2009
Statement [Line Items]
Collateral amount that counterparties would be required to post	$ 52.2	$ 14.7

Fair Vale Measurements (Schedule of the Carrying Values and Fair Values of Financial Instruments) (Details) - USD ($) $ in Millions	Sep. 30, 2010	Sep. 30, 2009
Carrying Value [Member]
Statement [Line Items]
Other investments	$ 1.1	$ 19.4
Long-term debt, including current portion, fair value	3,842.3	4,167.7
Carrying Value [Member] \| Forward Exchange Contract [Member]
Statement [Line Items]
Derivative assets	74.7	59.8
Derivative liabilities	50.5	103.9
Carrying Value [Member] \| Interest Rate Swaps Contracts [Member]
Statement [Line Items]
Derivative assets	39.7	15.1
Derivative liabilities	3.7	3.4
Carrying Value [Member] \| Commodity Swaps Contracts [Member]
Statement [Line Items]
Derivative assets		4.3
Derivative liabilities		2.4
Fair Value [Member]
Statement [Line Items]
Other investments	1.1	19.4
Long-term debt, including current portion, fair value	4,146.4	4,479.5
Fair Value [Member] \| Forward Exchange Contract [Member]
Statement [Line Items]
Derivative assets	74.7	59.8
Derivative liabilities	50.5	103.9
Fair Value [Member] \| Interest Rate Swaps Contracts [Member]
Statement [Line Items]
Derivative assets	39.7	15.1
Derivative liabilities	3.7	3.4
Fair Value [Member] \| Commodity Swaps Contracts [Member]
Statement [Line Items]
Derivative assets		4.3
Derivative liabilities		$ 2.4

Fair Value Measurements (Schedule of Fair Value of Assets and Liabilities) (Details) - USD ($) $ in Millions	Sep. 30, 2010	Sep. 30, 2009
Statement [Line Items]
Other investments	$ 1.1	$ 19.4
Total Assets at Fair Value	218.0	98.6
Total Liabilities at Fair Value	54.2	109.7
Airgas [Member]
Statement [Line Items]
Available-for-sale securities	102.5
Fair Value [Member] \| Airgas [Member]
Statement [Line Items]
Available-for-sale securities
Level 1 [Member]
Statement [Line Items]
Other investments	1.1	19.4
Total Assets at Fair Value	103.6	19.4
Total Liabilities at Fair Value
Level 1 [Member] \| Airgas [Member]
Statement [Line Items]
Available-for-sale securities	102.5
Level 2 [Member]
Statement [Line Items]
Other investments
Total Assets at Fair Value	114.4	79.2
Total Liabilities at Fair Value	54.2	109.7
Level 2 [Member] \| Airgas [Member]
Statement [Line Items]
Available-for-sale securities
Level 3 [Member]
Statement [Line Items]
Other investments
Total Assets at Fair Value
Total Liabilities at Fair Value
Level 3 [Member] \| Airgas [Member]
Statement [Line Items]
Available-for-sale securities
Forward Exchange Contract [Member]
Statement [Line Items]
Derivative assets	74.7	59.8
Derivative liabilities	50.5	103.9
Forward Exchange Contract [Member] \| Level 1 [Member]
Statement [Line Items]
Derivative assets
Derivative liabilities
Forward Exchange Contract [Member] \| Level 2 [Member]
Statement [Line Items]
Derivative assets	74.7	59.8
Derivative liabilities	50.5	103.9
Forward Exchange Contract [Member] \| Level 3 [Member]
Statement [Line Items]
Derivative assets
Derivative liabilities
Interest Rate Swaps Contracts [Member]
Statement [Line Items]
Derivative assets	39.7	15.1
Derivative liabilities	3.7	3.4
Interest Rate Swaps Contracts [Member] \| Level 1 [Member]
Statement [Line Items]
Derivative assets
Derivative liabilities
Interest Rate Swaps Contracts [Member] \| Level 2 [Member]
Statement [Line Items]
Derivative assets	39.7	15.1
Derivative liabilities	3.7	3.4
Interest Rate Swaps Contracts [Member] \| Level 3 [Member]
Statement [Line Items]
Derivative assets
Derivative liabilities
Commodity Swaps Contracts [Member]
Statement [Line Items]
Derivative assets		4.3
Derivative liabilities		2.4
Commodity Swaps Contracts [Member] \| Level 1 [Member]
Statement [Line Items]
Derivative assets
Commodity Swaps Contracts [Member] \| Level 2 [Member]
Statement [Line Items]
Derivative assets		4.3
Derivative liabilities		2.4
Commodity Swaps Contracts [Member] \| Level 3 [Member]
Statement [Line Items]
Derivative assets
Derivative liabilities

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended	12 Months Ended
	Jul. 31, 2010	Sep. 30, 2010	Sep. 30, 2010	Sep. 30, 2009
Statement [Line Items]
Percentage sale of investment in cash	8.00%
Carrying value of investment		$ 17.2	$ 17.2
Percentage of investment donated	92.00%
Recognized a tax benefit		5.8
Airgas [Member]
Statement [Line Items]
Available-for-sale securities		102.5	102.5
Unrealized appreciation of this investment carried at fair value			32.9
Unrealized appreciation of this investment carried at fair value, after tax		20.6	20.6
Carrying Value [Member] \| Airgas [Member]
Statement [Line Items]
Available-for-sale securities		102.5	102.5
Fair Value [Member] \| Airgas [Member]
Statement [Line Items]
Available-for-sale securities		$ 102.5	$ 102.5

Debt (Schedule of Total Debt) (Details) - USD ($) $ in Millions	Sep. 30, 2010	Sep. 30, 2009
Debt
Short-term borrowings	$ 286.0	$ 333.8
Current portion of long-term debt	182.5	452.1
Long-Term Debt	3,659.8	3,715.6
Total Debt	$ 4,128.3	$ 4,501.5

Debt (Schedule of Short-term Borrowings) (Details) - USD ($) $ in Millions	Sep. 30, 2010	Sep. 30, 2009
Debt
Bank obligations	$ 225.1	$ 333.8
Short-term borrowings associated with business acquisitions	60.9
Total Short-term Borrowings	$ 286.0	$ 333.8

Debt (Narrative) (Details) $ in Millions	12 Months Ended
Debt (Narrative) (Details) $ in Millions	Sep. 30, 2010 USD ($)	Sep. 30, 2009 USD ($)
Debt
Short-term debt, weighted average interest rate	3.20%	3.90%
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months	$ 182.5
Long-term debt maturities, repayments of principal in year two	452.8
Long-term debt maturities, repayments of principal in year three	334.7
Long-term debt maturities, repayments of principal in year four	488.3
Long-term debt maturities, repayments of principal in year five	444.3
Long-term debt maturities, repayments of principal after year five	1,939.7
Industrial Revenue Bonds	85.0
Industrial revenue bonds proceeds held in escrow and classified as noncurrent asset	$ 51.2
Line of Credit Facility	<font class="_mt">$6.7 billion term loan credit facility</font>
Line of Credit Facility, Expiration Date	8 July 2013
Muticurrency committed credit facility		$ 1,450.0
Credit facility	$ 2,000.0
Ratio of total debt to EBITDA	3.0
Additional commitments maintained by Air Products foreign subsidiaries	$ 518.7
Total amount borrowed by foreign subsidiaries and outstanding at 30 September 2010	$ 345.2

Debt (Schedule of Long-term Debt) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009
Statement [Line Items]
Other long term debt, Weighted average rate	$ 3,659.8	$ 3,715.6
Less: Unamortized discount	(9.1)	(12.7)
Capital Lease Obligations		8.9
Total Long-term Debt	3,842.3	4,167.7
Less: Current Portion	(182.5)	(452.1)
Total Long term Debt, Noncurrent	3,659.8	3,715.6
Debenture 8.75% [Member]
Statement [Line Items]
Senior notes debt	$ 18.4	18.4
Debt Instrument, Maturity Date Range, Start	2021
Debt Instrument, Maturity Date Range, End	2021
Series D 6.8% [Member]
Statement [Line Items]
Medium-term note debt, Weighted average rate	$ 63.1	63.1
Debt Instrument, Maturity Date Range, Start	2011
Debt Instrument, Maturity Date Range, End	2016
Series E 7.6% [Member]
Statement [Line Items]
Medium-term note debt, Weighted average rate	$ 17.2	17.2
Debt Instrument, Maturity Date Range, Start	2026
Debt Instrument, Maturity Date Range, End	2026
Series F 6.2% [Member]
Statement [Line Items]
Medium-term note debt, Weighted average rate		50.0
Debt Instrument, Maturity Date Range, Start	2010
Debt Instrument, Maturity Date Range, End	2010
Series G 4.1% [Member]
Statement [Line Items]
Medium-term note debt, Weighted average rate	$ 125.0	125.0
Debt Instrument, Maturity Date Range, Start	2011
Debt Instrument, Maturity Date Range, End	2011
Note 4.15% [Member]
Statement [Line Items]
Senior notes debt	$ 300.0	300.0
Debt Instrument, Maturity Date Range, Start	2013
Debt Instrument, Maturity Date Range, End	2013
Note 4.375% [Member]
Statement [Line Items]
Senior notes debt	$ 400.0	400.0
Debt Instrument, Maturity Date Range, Start	2019
Debt Instrument, Maturity Date Range, End	2019
Variable-rate industrial revenue bonds 0.5% [Member]
Statement [Line Items]
Other long term debt, Weighted average rate	$ 975.1	902.1
Total Long term Debt, Noncurrent	$ 975.1	902.1
Debt Instrument, Maturity Date Range, Start	2016
Debt Instrument, Maturity Date Range, End	2050
Other 2.3% [Member]
Statement [Line Items]
Other long term debt, Weighted average rate	$ 55.1	70.7
Total Long term Debt, Noncurrent	$ 55.1	70.7
Debt Instrument, Maturity Date Range, Start	2013
Debt Instrument, Maturity Date Range, End	2019
Eurobonds 1.2% (floating rate) [Member]
Statement [Line Items]
Debt payable in other currencies		365.5
Debt Instrument, Maturity Date Range, Start	2010
Debt Instrument, Maturity Date Range, End	2010
Eurobonds 4.25% [Member]
Statement [Line Items]
Debt payable in other currencies	$ 408.1	438.5
Debt Instrument, Maturity Date Range, Start	2012
Debt Instrument, Maturity Date Range, End	2012
Eurobonds 3.75% [Member]
Statement [Line Items]
Debt payable in other currencies	$ 408.1	438.5
Debt Instrument, Maturity Date Range, Start	2014
Debt Instrument, Maturity Date Range, End	2014
Eurobonds 3.875% [Member]
Statement [Line Items]
Debt payable in other currencies	$ 408.1	438.5
Debt Instrument, Maturity Date Range, Start	2015
Debt Instrument, Maturity Date Range, End	2015
Eurobonds 4.625% [Member]
Statement [Line Items]
Debt payable in other currencies	$ 408.1	438.5
Debt Instrument, Maturity Date Range, Start	2017
Debt Instrument, Maturity Date Range, End	2017
Other 5.0% [Member]
Statement [Line Items]
Debt payable in other currencies	$ 255.3	105.5
Debt Instrument, Maturity Date Range, Start	2011
Debt Instrument, Maturity Date Range, End	2018
United States 5.0% [Member]
Statement [Line Items]
Capital Lease Obligations	$ 5.5	6.1
Debt Instrument, Maturity Date Range, Start	2011
Debt Instrument, Maturity Date Range, End	2018
Foreign 5.1% [Member]
Statement [Line Items]
Capital Lease Obligations	$ 4.3	$ 2.8
Debt Instrument, Maturity Date Range, Start	2011
Debt Instrument, Maturity Date Range, End	2013

Retirement Benefits (Defined Benefit Pension Plans) (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Statement [Line Items]
Recognized settlement charges	$ 11.5	$ 10.7	$ 30.3
Total expected contributions for 2011	247.0
ABO for defined benefit pension plans	3,327.6	2,970.8
Accumulated Benefit Obligation [Member]
Statement [Line Items]
Pension arrangements not funded because of jurisdictional practice	118.0
Projected Benefit Obligation [Member]
Statement [Line Items]
Pension arrangements not funded because of jurisdictional practice	159.3
Global Cost Reduction Plan [Member]
Statement [Line Items]
Special termination benefits	$ 2.8	28.5
Curtailments		$ 3.8

Retirement Benefits (Schedule of the Net Periodic Benefit Costs) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
U.S. [Member]
Statement [Line Items]
Service cost	$ 42.5	$ 33.9	$ 42.3
Interest cost	123.4	124.0	117.6
Expected return on plan assets	(164.3)	(146.5)	(143.2)
Prior service cost	2.7	2.6	1.9
Transition
Actuarial loss	46.9	6.2	19.6
Settlements and curtailments	10.7	9.7	29.9
Special termination benefits	(0.9)	7.2	0.1
Other
Net Periodic Benefit Cost	61.0	37.1	68.2
International [Member]
Statement [Line Items]
Service cost	24.2	26.6	35.4
Interest cost	60.2	60.9	63.3
Expected return on plan assets	(64.3)	(55.3)	(63.6)
Prior service cost	0.7	1.3	1.3
Transition			0.1
Actuarial loss	19.9	10.8	18.3
Settlements and curtailments	0.8	4.8	0.4
Special termination benefits	4.2	22.1	1.1
Other	2.3	1.7	2.5
Net Periodic Benefit Cost	$ 48.0	$ 72.9	$ 58.8

Retirement Benefits (Schedule of the Weighted Average Assumptions Used in the Calculation of Net Periodic Pension Cost) (Details)	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Statement [Line Items]
Discount rate	4.20%	7.40%	5.70%
U.S. [Member]
Statement [Line Items]
Discount rate	5.70%	7.60%	6.40%
Expected return on plan assets	8.80%	8.80%	9.50%
Rate of compensation increase	4.30%	4.30%	4.50%
International [Member]
Statement [Line Items]
Discount rate	5.50%	6.50%	5.70%
Expected return on plan assets	7.30%	7.40%	7.50%
Rate of compensation increase	3.70%	4.40%	3.80%

Retirement Benefits (Schedule of the Weighted Average Assumptions Used in the Calculation of PBO) (Details)	Sep. 30, 2010	Sep. 30, 2009
Statement [Line Items]
Discount rate	2.80%	4.20%
U.S. [Member]
Statement [Line Items]
Discount rate	5.10%	5.70%
Rate of compensation increase	4.00%	4.30%
International [Member]
Statement [Line Items]
Discount rate	4.90%	5.50%
Rate of compensation increase	3.80%	3.70%

Retirement Benefits (Defined Benefit Plan Amounts Recognized in Balance Sheet) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Statement [Line Items]
Accrued liabilities	$ (238.8)	$ (347.9)
International [Member]
Statement [Line Items]
Obligation at beginning of year	1,175.5	1,093.0
Measurement date change		(78.5)
Service cost	24.2	26.6	$ 35.4
Interest cost	60.2	60.9	63.3
Amendments	1.0	0.6
Actuarial loss	115.0	173.4
Special termination benefits, settlements, and curtailments	3.0	23.5
Participant contributions	4.1	4.6
Benefits paid	(48.0)	(60.9)
Currency translation/other	(27.6)	(67.7)
Obligation at End of Year	1,307.4	1,175.5	1,093.0
Fair value at beginning of year	793.3	793.5
Actual return on plan assets	77.7	41.6
Company contributions	179.1	63.4
Participant contributions	4.1	4.6
Benefits paid	(48.0)	(60.9)
Currency translation/other	(21.8)	(48.9)
Fair Value at End of Year	984.4	793.3	793.5
Funded Status at End of Year	(323.0)	(382.2)
Noncurrent assets		8.4
Accrued liabilities	(60.6)	(137.4)
Noncurrent liabilities	(262.4)	(253.2)
Net Amount Recognized	(323.0)	(382.2)
U.S. [Member]
Statement [Line Items]
Obligation at beginning of year	2,210.5	1,638.7
Service cost	42.5	33.9	42.3
Interest cost	123.4	124.0	117.6
Amendments	1.3	0.9
Actuarial loss	176.9	498.0
Special termination benefits, settlements, and curtailments	3.1	12.8
Benefits paid	(111.5)	(97.8)
Obligation at End of Year	2,446.2	2,210.5	1,638.7
Fair value at beginning of year	1,457.7	1,424.7
Actual return on plan assets	153.5	9.4
Company contributions	227.5	121.4
Benefits paid	(111.5)	(97.8)
Fair Value at End of Year	1,727.2	1,457.7	$ 1,424.7
Funded Status at End of Year	(719.0)	(752.8)
Accrued liabilities	(178.2)	(210.5)
Noncurrent liabilities	(540.8)	(542.3)
Net Amount Recognized	$ (719.0)	$ (752.8)

Retirement Benefits (Schedule of Changes in Plan Assets and Benefit Obligation Recognized In AOCI on a Pretax Basis) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009
U.S. [Member]
Statement [Line Items]
Net actuarial loss arising during the period	$ 191.6	$ 640.8
Measurement date change
Amortization of net actuarial loss	(57.6)	(15.9)
Prior service cost arising during the period	1.3	0.8
Amortization of prior service cost	(2.7)	(2.6)
Total Recognized in AOCI	132.6	623.1
International [Member]
Statement [Line Items]
Net actuarial loss arising during the period	103.2	148.2
Measurement date change		(49.8)
Amortization of net actuarial loss	(20.7)	(15.6)
Prior service cost arising during the period	1.0	0.6
Amortization of prior service cost	(0.7)	(1.3)
Total Recognized in AOCI	$ 82.8	$ 82.1

Retirement Benefits (Schedule of the Components Recognized in AOCI on a Pretax Basis) (Details) - USD ($) $ in Millions	Sep. 30, 2010	Sep. 30, 2009
U.S. [Member]
Statement [Line Items]
Net actuarial loss	$ 1,110.9	$ 976.9
Prior service cost	16.9	18.3
Net transition liability
Total Recognized in AOCI	1,127.8	995.2
International [Member]
Statement [Line Items]
Net actuarial loss	533.4	450.9
Prior service cost	7.1	6.8
Net transition liability	0.4	0.4
Total Recognized in AOCI	$ 540.9	$ 458.1

Retirement Benefits (Schedule of AOCI Expected to be Recognized as a Component of Net Periodic Pension Cost in Next Fiscal Year) (Details) $ in Millions	12 Months Ended
	Sep. 30, 2010 USD ($)
Statement [Line Items]
Net actuarial loss	$ 3.6
U.S. [Member]
Statement [Line Items]
Net actuarial loss	64.9
Prior service cost	2.5
International [Member]
Statement [Line Items]
Net actuarial loss	29.4
Prior service cost	$ 0.6

Retirement Benefits (Schedule of Target and Actual Asset Allocations) (Details)	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009
U.S. [Member]
Statement [Line Items]
Target Allocation, Equity securities, Minimum	60.00%
Target Allocation, Equity securities, Maximum	80.00%
Target Allocation, Debt securities, Minimum	20.00%
Target Allocation, Debt securities, Maximum	30.00%
Target Allocation, Real estate/other, minimum	0.00%
Target Allocation, Real estate/other, maximum	10.00%
Actual Allocation, Equity securities	70.00%	68.00%
Actual Allocation, Debt securities	25.00%	26.00%
Actual Allocation, Real estate/other	4.00%	5.00%
Actual Allocation, Cash	1.00%	1.00%
Actual Allocation, Total	100.00%	100.00%
International [Member]
Statement [Line Items]
Target Allocation, Equity securities, Minimum	53.00%
Target Allocation, Equity securities, Maximum	62.00%
Target Allocation, Debt securities, Minimum	36.00%
Target Allocation, Debt securities, Maximum	45.00%
Target Allocation, Real estate/other, minimum	1.00%
Target Allocation, Real estate/other, maximum	3.00%
Actual Allocation, Equity securities	55.00%	56.00%
Actual Allocation, Debt securities	38.00%	39.00%
Actual Allocation, Real estate/other	2.00%	3.00%
Actual Allocation, Cash	5.00%	2.00%
Actual Allocation, Total	100.00%	100.00%

Retirement Benefits (Schedule of Changes in Fair Value of Pension Plan Assets Classified as Level 3) (Details) $ in Millions	12 Months Ended
	Sep. 30, 2010 USD ($)
International [Member]
Statement [Line Items]
Fair value at beginning of year	$ 793.3
Fair Value at End of Year	984.4
U.S. [Member]
Statement [Line Items]
Fair value at beginning of year	1,457.7
Fair Value at End of Year	1,727.2
Other pooled funds [Member] \| International [Member]
Statement [Line Items]
Fair Value at End of Year	25.9
Insurance contracts [Member] \| International [Member]
Statement [Line Items]
Fair Value at End of Year	76.1
Level 3 [Member] \| International [Member]
Statement [Line Items]
Fair value at beginning of year	79.7
Assets Held, End of year	5.6
Assets Sold During Period	0.2
Purchases, Sales, and Settlements, Net	8.5
Fair Value at End of Year	94.0
Level 3 [Member] \| U.S. [Member]
Statement [Line Items]
Fair value at beginning of year	72.7
Assets Held, End of year	4.3
Assets Sold During Period
Purchases, Sales, and Settlements, Net
Fair Value at End of Year	77.0
Level 3 [Member] \| Real Estate [Member] \| U.S. [Member]
Statement [Line Items]
Fair value at beginning of year	72.7
Assets Held, End of year	4.3
Assets Sold During Period
Purchases, Sales, and Settlements, Net
Fair Value at End of Year	77.0
Level 3 [Member] \| Other pooled funds [Member] \| International [Member]
Statement [Line Items]
Fair value at beginning of year	13.0
Assets Held, End of year	0.5
Assets Sold During Period	0.2
Purchases, Sales, and Settlements, Net	4.2
Fair Value at End of Year	17.9
Level 3 [Member] \| Insurance contracts [Member] \| International [Member]
Statement [Line Items]
Fair value at beginning of year	66.7
Assets Held, End of year	5.1
Assets Sold During Period
Purchases, Sales, and Settlements, Net	4.3
Fair Value at End of Year	$ 76.1

Retirement Benefits (Schedule of Projected Benefit Payments) (Details) $ in Millions	Sep. 30, 2010 USD ($)
U.S. [Member]
Statement [Line Items]
2011	$ 95.6
2012	103.9
2013	110.4
2014	117.7
2015	125.7
2016-2020	760.6
International [Member]
Statement [Line Items]
2011	43.3
2012	45.2
2013	48.7
2014	50.7
2015	52.3
2016-2020	$ 285.8

Retirement Benefits (Schedule of Pension Plans Where the PBO Exceeds the Value of Plan Assets) (Details) - Projected Benefit Obligation [Member] - USD ($) $ in Millions	Sep. 30, 2010	Sep. 30, 2009
U.S. [Member]
Statement [Line Items]
PBO	$ 2,446.2	$ 2,210.5
ABO	2,121.5	1,885.0
Plan assets	1,727.2	1,457.7
International [Member]
Statement [Line Items]
PBO	1,294.8	1,036.3
ABO	1,196.5	973.5
Plan assets	$ 971.2	$ 645.0

Retirement Benefits (Schedule of Pension Plans Where the ABO Exceeds the Value of Plan Assets) (Details) - Accumulated Benefit Obligation [Member] - USD ($) $ in Millions	Sep. 30, 2010	Sep. 30, 2009
U.S. [Member]
Statement [Line Items]
PBO	$ 2,446.2	$ 2,210.5
ABO	2,121.5	1,885.0
Plan assets	1,727.2	1,457.7
International [Member]
Statement [Line Items]
PBO	1,263.4	1,008.4
ABO	1,170.4	955.8
Plan assets	$ 944.5	$ 620.2

Retirement Benefits (Defined Contribution Plans) (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Retirement Benefits
Shares of common stock in ESOP	5,276,922
RSP contributions expensed to income	$ 30.8	$ 30.6	$ 30.1

Retirement Benefits (Schedule of Other Postretirement Benefit Plans' Cost Components) (Details) - Other Postretirement Benefits [Member] - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Statement [Line Items]
Service cost	$ 4.7	$ 4.0	$ 5.9
Interest cost	4.6	6.5	5.8
Prior service credit	(0.1)	(1.4)	(1.4)
Actuarial loss	2.9	0.1	1.7
Net Periodic Postretirement Cost	$ 12.1	$ 9.2	$ 12.0

Retirement Benefits (Other Postretirement Benefits) (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Retirement Benefits
Discount rate	4.20%	7.40%	5.70%
Accumulated postretirement benefit obligation discount rate	2.80%	4.20%
Net actuarial loss to be recognized in fiscal year 2011	$ 3.6

Retirement Benefits (Schedule of Changes in Accumulated Postretirement Benefit Obligation and Amounts Recognized in the Consolidated Balance Sheets) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009
Statement [Line Items]
Accrued liabilities	$ 238.8	$ 347.9
Accumulated Postretirement Benefit [Member]
Statement [Line Items]
Obligation at beginning of year	116.0	98.8
Service cost	4.7	4.0
Interest cost	4.6	6.5
Actuarial loss	7.8	18.7
Benefits paid	(12.2)	(12.0)
Obligation at End of Year	120.9	116.0
Accrued liabilities	13.7	13.5
Noncurrent liabilities	$ 107.2	$ 102.5

Retirement Benefits (Schedule of Changes in Benefit Obligation Recognized in AOCI on a Pretax Basis for Other Postretirement Benefit Plans) (Details) - Other Postretirement Benefits [Member] - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009
Statement [Line Items]
Net actuarial loss arising during the period	$ 7.8	$ 18.7
Amortization of net actuarial loss	(2.9)	(0.1)
Amortization of prior service credit	0.1	1.4
Total Recognized in AOCI	$ 5.0	$ 20.0

Retirement Benefits (Schedule of Components of Other Postretirement Benefit Plans Recognized in AOCI on a Pretax Basis) (Details) - Other Postretirement Benefits [Member] - USD ($) $ in Millions	Sep. 30, 2010	Sep. 30, 2009
Statement [Line Items]
Net actuarial loss	$ 35.5	$ 30.6
Prior service cost		(0.1)
Amount Recognized in AOCI	$ 35.5	$ 30.5

Retirement Benefits (Schedule of Assumed Healthcare Trend Rates) (Details)	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009
Retirement Benefits
Healthcare trend rate	8.00%	9.50%
Ultimate trend rate	5.00%	5.00%
Year the ultimate trend rate is reached	2014	2014

Retirement Benefits (Schedule of Projected Benefit Payments for Other Postretirement Benefit Plans) (Details) - Other Postretirement Benefits [Member] $ in Millions	Sep. 30, 2010 USD ($)
Statement [Line Items]
2011	$ 13.9
2012	13.6
2013	13.2
2014	12.9
2015	12.5
2016-2020	$ 55.8

Commitments and Contingencies (Litigation and Environmental) (Narrative) (Details) R$ in Millions, $ in Millions	12 Months Ended
	Sep. 30, 2010 BRL (R$)	Sep. 30, 2010 USD ($)	Sep. 30, 2009 USD ($)
Statement [Line Items]
Civil fines imposed \| R$	R$ 179.2
Environmental [Member]
Statement [Line Items]
Approximate number of sites company was designated a potentially responsible party by the Environmental Protection Agency	30
Accrual for Environmental Loss Contingencies		$ 87.0	$ 95.0
Accruals for environmental loss contingencies, maximum payout period, years	30
Accruals for environmental loss contingencies, minimum exposure		87.0
Accruals for environmental loss contingencies, maximum exposure		$ 101.0

Commitments and Contingencies (Pace) (Narrative) (Details) - Pace, Florida [Member] $ in Millions	12 Months Ended
	Sep. 30, 2010 USD ($)	Sep. 30, 2006 USD ($)
Statement [Line Items]
Accrual for Environmental Loss Contingencies	$ 36.5
Accruals for environmental loss contingencies, maximum payout period, years	20
Environmental loss contingencies estimated costs through completion, minimum	$ 42.0
Environmental loss contingencies estimated costs through completion, maximum	50.0
Pretax expense recognized as a component of income from discontinued operations		$ 42.0
Environmental liability recognized with this site	$ 42.0

Commitments and Contingencies (Piedmont) (Narrative) (Details) - Piedmont, Florida [Member] $ in Millions	12 Months Ended
	Sep. 30, 2010 USD ($)	Sep. 30, 2008 USD ($)
Statement [Line Items]
Environmental Obligation	$ 21.5
Accruals for environmental loss contingencies, maximum payout period, years	15
Environmental loss contingencies estimated costs through completion, maximum	$ 24.0
Pretax expense recognized as a component of income from discontinued operations		$ 24.0
Environmental liability recognized with this site	$ 24.0

Commitments and Contingencies (Paulsboro) (Narrative) (Details) - Paulsboro, New Jersey [Member] - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2010	Dec. 31, 2008
Statement [Line Items]
Environmental Obligation	$ 14.0
Environmental liability recognized with this site		$ 16.0

Commitments and Contingencies (Guarantees and Warranties) (Narrative) (Details) $ in Millions	12 Months Ended
	Sep. 30, 2010 USD ($)	Sep. 30, 2008
Statement [Line Items]
Terms of guaranteed repayment of unconsolidated equity affiliates borrowings, minimum	2
Terms of guaranteed repayment of unconsolidated equity affiliates borrowings, maximum	8
Maximum potential guaranteed debt repayments of unconsolidated equity affiliates	$ 28.7
Percentage of ownership in equity affiliate		72.00%
Maximum potential payments under joint and several guarantees	$ 68.0
Exposures under the guarantee are completed	<font class="_mt">2024</font>
Guarantees and Warranties [Member]
Statement [Line Items]
Percentage of ownership in equity affiliate	50.00%

Commitments and Contingencies (Put Option Agreements) (Narrative) (Details) shares in Millions, $ in Millions	12 Months Ended
	Sep. 30, 2010 INR (₨)	Sep. 30, 2010 USD ($)	Sep. 30, 1999 shares
San Fu Gas Company, Ltd. [Member]
Statement [Line Items]
Percentage of ownership	74.00%	74.00%
Estimated US dollar price to purchase remaining shares		$ 240.0
INOXAP [Member]
Statement [Line Items]
Percentage of stock remaining for purchase			50.00%
Remaining shares held by other shareholders \| shares			5.1
Minimum estimated option per share price in Rupees \| ₨	₨ 630
Estimated US dollar price to purchase remaining shares		$ 190.0

Commitments and Contingencies (Schedule of Future Payments Under Unconditional Purchase Obligations) (Details) $ in Millions	Sep. 30, 2010 USD ($)
Commitments and Contingencies
Expected payment due in 2011	$ 482
Expected payment due in 2012	100
Expected payment due in 2013	103
Expected payment due in 2014	112
Expected payment due in 2015	118
Expected payment due thereafter	551
Total expected payment due	$ 1,466

Commitments and Contingencies (Purchase Obligations) (Narrative) (Details) $ in Millions	12 Months Ended
	Sep. 30, 2010 USD ($)
Commitments and Contingencies
Purchase commitments for additional plant and equipment included in FY2011 obligations	$ 330

Capital Stock (Narrative) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	Sep. 30, 2010	Sep. 30, 2009	Sep. 20, 2007
Capital Stock
Preferred stock, authorized shares	25.0
Preferred shares, outstanding	0.0
Preferred shares, par value, per share	$ 1
Common stock, authorized shares	300.0
Common stock, par value, per share	$ 1	$ 1
Authorized repurchase			$ 1,000.0
Authorized repurchase, remaining	$ 649.2

Share-Based Compensation (Share-Based Compensation Cost Recognized in the Income Statement) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Statement [Line Items]
Before-Tax Share-Based Compensation Cost	$ 48.6	$ 60.4	$ 61.4
Income tax benefit	(18.3)	(23.3)	(23.6)
After-Tax Share-Based Compensation Cost	30.3	37.1	37.8
Cost of Sales [Member]
Statement [Line Items]
Allocated share-based compensation expense	4.0	7.9	8.7
Selling and Administrative [Member]
Statement [Line Items]
Allocated share-based compensation expense	42.5	46.9	47.0
Research and Development [Member]
Statement [Line Items]
Allocated share-based compensation expense	$ 2.1	4.1	$ 5.7
Global Cost Reduction Plan [Member]
Statement [Line Items]
Allocated share-based compensation expense		$ 1.5

Share-Based Compensation (Schedule of Total Before-tax Share-Based Compensation Cost by Type of Program) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Statement [Line Items]
Before-Tax Share-Based Compensation Cost	$ 48.6	$ 60.4	$ 61.4
Stock Options [Member]
Statement [Line Items]
Before-Tax Share-Based Compensation Cost	25.0	38.3	36.5
Deferred Stock Units [Member]
Statement [Line Items]
Before-Tax Share-Based Compensation Cost	21.5	19.2	22.6
Restricted Stock [Member]
Statement [Line Items]
Before-Tax Share-Based Compensation Cost	$ 2.1	$ 2.9	$ 2.3

Share-Based Compensation (Stock Options) (Narrative) (Details)	12 Months Ended
	Sep. 30, 2010 USD ($) $ / shares shares	Sep. 30, 2009 USD ($) $ / shares	Sep. 30, 2008 USD ($) $ / shares
Share-Based Compensation
Shares available for future grant \| shares	6,381,410
General vesting period	<font class="_mt">incrementally over three years</font>
Exercisable period	<font class="_mt">ten years</font>
Weighted average grant-date fair value of options \| $ / shares	$ 25.94	$ 20.86	$ 31.84
Closing stock price	$ 82.82
Intrinsic value of stock options exercised	92,400,000	$ 62,100,000	$ 138,000,000
Unrecognized compensation costs	$ 11,500,000
Nonvested stock option weighted average recognition period, years	1.2
Cash received from option exercises	$ 88,100,000
Tax benefit	33,700,000
Excess tax benefit	$ 21,800,000

Share-Based Compensation (Schedule of Assumptions Used to Estimate the Fair Value of Options Granted) (Details)	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Share-Based Compensation
Expected volatility	32.60%	31.20%	30.40%
Expected dividend yield	2.10%	2.10%	2.10%
Expected life in years, minimum	6.8	6.8	6.8
Expected life in years, maximum	8.0	8.0	8.0
Risk-free interest rate, minimum	2.90%	3.50%	4.50%
Risk-free interest rate, maximum	3.30%	3.90%	4.60%

Share-Based Compensation (Schedule of Stock Option Activity) (Details) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Sep. 30, 2010 USD ($) $ / shares shares	Sep. 30, 2009 $ / shares shares
Share-Based Compensation
Outstanding at 30 September, shares \| shares	16,435	17,747
Outstanding at 30 September, weighted average exercise price \| $ / shares	$ 56.56	$ 52.79
Granted, shares \| shares	1,018
Granted, weighted average exercise price \| $ / shares	$ 83.60
Exercised, shares \| shares	(2,261)
Exercised, weighted average exercise price \| $ / shares	$ 38.71
Forfeited, shares \| shares	(69)
Forfeited, weighted average exercise price \| $ / shares	$ 71.86
Exercisable at 30 September 2010, shares \| shares	13,799
Exercisable at 30 September 2010, weighted average exercise price \| $ / shares	$ 52.51
Outstanding at 30 September 2010, weighted average remaining contractual terms (in years)	4.4
Outstanding at 30 September 2010, aggregate intrinsic value \| $	$ 451
Exercisable at 30 September 2010, weighted average remaining contractual terms (in years)	3.6
Exercisable at 30 September 2010, aggregate intrinsic value \| $	$ 431

Share-Based Compensation (Deferred Stock Units) (Narrative) (Details) $ in Millions	12 Months Ended
	Sep. 30, 2010 USD ($)	Sep. 30, 2009 USD ($)	Sep. 30, 2008 USD ($)
Statement [Line Items]
Unrecognized compensation costs	$ 11.5
Nonvested stock option weighted average recognition period, years	1.2
Deferred Stock Units [Member]
Statement [Line Items]
Cash payments for deferred stock units	$ 1.4	$ 5.2	$ 8.3
Fair value of deferred stock units	26.2	$ 22.1	$ 51.5
Unrecognized compensation costs	$ 26.7
Nonvested stock option weighted average recognition period, years	2.5

Share-Based Compensation (Schedule of Deferred Stock Units) (Details) - USD ($) $ / shares in Units, shares in Millions	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009
Statement [Line Items]
Outstanding at 30 September, shares	1,527
Outstanding at 30 September, weighted average grant-date fair value	$ 64.67
Granted, shares	310
Granted, weighted average grant-date fair value	$ 83.08
Paid out, shares	(361)
Paid out, weighted average grant-date fair value	$ 51.31
Forfeited/adjustments, shares	(24)
Forfeited/adjustments, weighted average grant-date fair value	$ 66.13
30 September 2009 [Member]
Statement [Line Items]
Outstanding at 30 September, shares		1,602
Outstanding at 30 September, weighted average grant-date fair value		$ 58.13

Share-Based Compensation (Schedule of Restricted Stock) (Details) - $ / shares shares in Millions	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009
Statement [Line Items]
Outstanding at 30 September, shares	1,527
Outstanding at 30 September, weighted average grant-date fair value	$ 64.67
Granted, shares	310
Granted, weighted average grant-date fair value	$ 83.08
Restricted Stock [Member]
Statement [Line Items]
Outstanding at 30 September, shares	141	125
Outstanding at 30 September, weighted average grant-date fair value	$ 70.87	$ 68.16
Granted, shares	31
Granted, weighted average grant-date fair value	$ 83.60
Vested, shares	(13)
Vested, weighted average grant-date fair value	$ 73.12
Forfeited, shares	(2)
Forfeited, weighted average grant-date fair value	$ 83.60

Share-Based Compensation (Restricted Stock) (Narrative) (Details) $ in Millions	12 Months Ended
	Sep. 30, 2010 USD ($)	Sep. 30, 2009 USD ($)	Sep. 30, 2008 USD ($)
Statement [Line Items]
Vesting period	<font class="_mt">incrementally over three years</font>
Unrecognized compensation costs	$ 11.5
Nonvested stock option weighted average recognition period, years	1.2
Restricted Stock [Member]
Statement [Line Items]
Vesting period	<font class="_mt">four years</font>
Unrecognized compensation costs	$ 1.8
Nonvested stock option weighted average recognition period, years	3.2
Fair value of vested restricted stock	$ 1.0	$ 0.0	$ 10.8

Noncontrolling Interests (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2008	Sep. 30, 2009
Statement [Line Items]
Increased ownership interest percentage, from		25.00%
Increased ownership interest percentage, to		72.00%
Obligation to purchase liability	$ 42.0
Carrying balance of noncontrolling interest	150.7		$ 138.1
Decrease recognized in capital	$ 28.3
CryoService Limited [Member]
Statement [Line Items]
Agreements to purchase the remaining shares	25.00%
Obligation to purchase liability	$ 42.0
Carrying balance of noncontrolling interest	$ 10.8

Noncontrolling Interests (Schedule of Changes in Ownership Interests) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Sep. 30, 2010	Jun. 30, 2010	Mar. 31, 2010	Dec. 31, 2009	Sep. 30, 2009	Jun. 30, 2009	Mar. 31, 2009	Dec. 31, 2008	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Noncontrolling Interest
Net income attributable to Air Products	$ 272.1	$ 253.2	$ 252.0	$ 251.8	$ 243.9	$ 113.2	$ 205.6	$ 68.6	$ 1,029.1	$ 631.3	$ 909.7
Decrease in Air Products capital in excess of par value for purchase of noncontrolling interests									(28.3)
Changes from net income attributable to Air Products and transfers to noncontrolling interests									$ 1,000.8	$ 631.3	$ 909.7

Earnings per Share (Schedule of Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended								12 Months Ended
	Sep. 30, 2010	Jun. 30, 2010	Mar. 31, 2010	Dec. 31, 2009	Sep. 30, 2009	Jun. 30, 2009	Mar. 31, 2009	Dec. 31, 2008	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Earnings per Share
Income from continuing operations-attributable to Air Products					$ 246.0	$ 114.6	$ 189.3	$ 90.0	$ 1,029.1	$ 639.9	$ 1,090.5
Loss from discontinued operations										(8.6)	(180.8)
Net income attributable to Air Products	$ 272.1	$ 253.2	$ 252.0	$ 251.8	$ 243.9	$ 113.2	$ 205.6	$ 68.6	$ 1,029.1	$ 631.3	$ 909.7
Weighted average number of common shares used in basic EPS									212.2	209.9	212.2
Employee stock options									3.9	2.6	5.9
Other award plans									1.0	1.0	1.1
Effect of dilutive securities									4.9	3.6	7.0
Weighted average number of common shares and dilutive potential common shares used in diluted EPS									217.1	213.5	219.2
Income from continuing operations					$ 1.17	$ 0.55	$ 0.90	$ 0.43	$ 4.85	$ 3.05	$ 5.14
Income (loss) from discontinued operations					(0.01)	(0.01)	0.08	(0.10)		(0.04)	(0.85)
Net Income Attributable to Air Products	$ 1.28	$ 1.19	$ 1.19	$ 1.19	1.16	0.54	0.98	0.33	4.85	3.01	4.29
Income from continuing operations					1.14	0.54	0.89	0.42	4.74	3	4.97
Loss from discontinued operations					(0.01)	(0.01)	0.08	(0.10)		(0.04)	(0.82)
Net Income Attributable to Air Products	$ 1.25	$ 1.17	$ 1.16	$ 1.16	$ 1.13	$ 0.53	$ 0.97	$ 0.32	$ 4.74	$ 2.96	$ 4.15

Earnings per Share (Narrative) (Details) - shares shares in Millions	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Earnings per Share
Antidilutive options excluded from computation of diluted earnings per share	2.2	5.8	1.2

Income Taxes (Schedule of Components of Income Taxes) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Income Taxes
Federal, current	$ 100.5	$ 88.1	$ 131.7
Federal, deferred	47.4	18.1	3.1
Federal provision for income taxes	147.9	106.2	134.8
State, current	2.7	35.8	2.8
State, deferred	4.3	(20.9)	11.0
State provision for income taxes	7.0	14.9	13.8
Foreign, current	140.1	113.7	193.9
Foreign, deferred	44.5	(49.5)	22.8
Foreign provision for income taxes	184.6	64.2	216.7
Provision for income taxes	$ 339.5	$ 185.3	$ 365.3

Income Taxes (Components of Deferred Taxes) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009
Income Taxes
Retirement benefits and compensation accruals	$ 491.0	$ 508.9
Tax loss carryforwards	62.2	78.7
Tax credits	67.4	74.5
Reserves and accruals	75.4	66.6
Acquisition-related costs	35.9
Unremitted earnings of foreign entities	0.8
Asset impairment	6.7	26.9
Currency losses	29.5	80.4
Other	152.4	167.1
Valuation allowance	(55.4)	(31.9)
Deferred Tax Assets	865.9	971.2
Plant and equipment	840.9	896.2
Investment in partnerships	5.6	10.5
Unrealized gain on cost investments	11.8	5.8
Unremitted earnings of foreign entities		2.6
Intangible assets	57.0	26.1
Other	76.5	111.3
Deferred Tax Liabilities	991.8	1,052.5
Net Deferred Income Tax Liability	$ 125.9	$ 81.3

Income Taxes (Narrative) (Details) - USD ($)	12 Months Ended
Income Taxes (Narrative) (Details) - USD ($)	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008	Sep. 30, 2007
Statement [Line Items]
Net current deferred tax assets	$ 124,100,000	$ 206,600,000
Net noncurrent deferred tax assets	$ 85,500,000	71,500,000
Operating loss expiration period	<font class="_mt">2011 and 2030</font>
Valuation allowance	$ 55,400,000
Undistributed earnings included in retained earnings	3,442,600,000
Unrecognized tax benefits	233,700,000	194,900,000	$ 184,100,000	$ 116,500,000
U.S. income and foreign withholding taxes	824,000,000
Unrecognized tax benefits for payment of interest and penalties	36,000,000	31,800,000
Interest and penalties recognized	5,500,000	2,500,000	$ 3,100,000
Unrecognized tax benefit that if recognized would impact effective tax rate	137,500,000	$ 101,600,000
Foreign Country [Member]
Statement [Line Items]
Loss carryforward	161,300,000
State [Member]
Statement [Line Items]
Loss carryforward	$ 306,300,000

Income Taxes (Effective Tax Rate Reconciliation) (Details)	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Income Taxes
U.S. federal statutory tax rate	35.00%	35.00%	35.00%
State taxes, net of federal benefit	0.30%	1.10%	0.80%
Income from equity affiliates	(3.00%)	(4.70%)	(3.30%)
Foreign taxes and credits	(8.30%)	(7.30%)	(6.10%)
Domestic Production Activity	(0.60%)	(1.10%)	(0.60%)
Tax audit settlements and adjustments		(0.80%)
Donation of investments	(0.40%)
Other	1.40%	(0.10%)	(1.10%)
Effective Tax Rate	24.40%	22.10%	24.70%

Income Taxes (Schedule of Income U.S. and Foreign Operations Before Taxes and Noncontrolling Interests) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Income Taxes
Income from continuing operations before taxes, United States	$ 464.5	$ 374.3	$ 479.5
Income from continuing operations before taxes, Foreign	802.6	350.1	854.3
Income from continuing operations before taxes, Equity Affiliates	126.9	112.2	145.0
Income from Continuing Operations before Taxes	$ 1,394.0	$ 836.6	$ 1,478.8

Income Taxes (Schedule of Reconciliation of Unrecognized Tax Benefits) (Details) - USD ($)	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Income Taxes
Balance at beginning of year	$ 194,900,000	$ 184,100,000	$ 116,500,000
Additions for tax positions of the current year	37,300,000	25,600,000	58,300,000
Additions for tax positions of prior years	13,100,000	39,000,000	20,100,000
Reductions for tax positions of prior years	(1,100,000)	(45,200,000)	(5,200,000)
Settlements		(5,400,000)	(4,600,000)
Statute of limitations expiration	(6,300,000)	(5,400,000)	(3,400,000)
Foreign currency translation	(4,200,000)	2,200,000	2,400,000
Balance at End of Year	$ 233,700,000	$ 194,900,000	$ 184,100,000

Income Taxes (Schedule of Open Fiscal Years Subject to Examination By Major Tax Jurisdiction) (Details)	12 Months Ended
	Sep. 30, 2010
United States [Member]
Statement [Line Items]
Open Tax Fiscal Years	2007-2010
Canada [Member]
Statement [Line Items]
Open Tax Fiscal Years	2006-2010
United Kingdom [Member]
Statement [Line Items]
Open Tax Fiscal Years	2007-2010
Germany [Member]
Statement [Line Items]
Open Tax Fiscal Years	2006-2010
Netherlands [Member]
Statement [Line Items]
Open Tax Fiscal Years	2005-2010
Poland [Member]
Statement [Line Items]
Open Tax Fiscal Years	2004-2010
Spain [Member]
Statement [Line Items]
Open Tax Fiscal Years	2005-2010
China [Member]
Statement [Line Items]
Open Tax Fiscal Years	2005-2010
Taiwan [Member]
Statement [Line Items]
Open Tax Fiscal Years	2005-2010
Korea [Member]
Statement [Line Items]
Open Tax Fiscal Years	2005-2010

Supplemental Information (Schedule of Other Receivables and Current Assets) (Details) - USD ($) $ in Millions	Sep. 30, 2010	Sep. 30, 2009
Supplemental Information
Deferred tax assets	$ 124.1	$ 206.6
Derivative instruments	42.6	54.1
Other receivables	120.7	89.9
Current capital lease receivables	39.1	32.6
Other	45.6	21.6
Other receivables and current assets	$ 372.1	$ 404.8

Supplemental Information (Schedule of Other Noncurrent Assets) (Details) - USD ($) $ in Millions	Sep. 30, 2010	Sep. 30, 2009
Supplemental Information
Restricted cash	$ 95.7	$ 129.0
Derivative instruments	71.8	25.1
Other long-term receivables	61.6	72.6
Airgas investment	102.5
Other investments	1.1	19.4
Deferred tax assets	85.5	71.5
Prepaid pension benefit cost		8.4
Other deferred charges	119.1	112.0
Other noncurrent assets	$ 537.3	$ 438.0

Supplemental Information (Schedule of Payables and Accrued Liabilities) (Details) - USD ($) $ in Millions	Sep. 30, 2010	Sep. 30, 2009
Supplemental Information
Trade creditors	$ 662.2	$ 577.6
Customer advances	80.7	72.6
Accrued payroll and employee benefits	207.5	138.8
Pension benefits	238.8	347.9
Dividends payable	104.8	95.1
Outstanding payments in excess of certain cash balances	31.4	25.2
Accrued interest expense	52.9	59.2
Derivative instruments	31.9	61.3
Global cost reduction plan accrual	1.9	110.4
Acquisition-related accrual	117.7
Miscellaneous	171.2	172.3
Current liabilities of discontinued operations	1.0	14.4
Total payables and accrued liabilities	$ 1,702.0	$ 1,674.8

Supplemental Information (Schedule of Other Noncurrent Liabilities) (Details) - USD ($) $ in Millions	Sep. 30, 2010	Sep. 30, 2009
Supplemental Information
Pension benefits	$ 803.2	$ 795.5
Postretirement benefits	107.2	102.5
Other employee benefits	103.5	105.1
Contingencies related to uncertain tax positions	228.8	193.5
Advance payments	69.6	90.5
Environmental liabilities	79.9	93.4
Noncurrent liability related to the purchase of shares from noncontrolling interests	42.0
Derivative instruments	22.3	48.4
Miscellaneous	112.8	93.1
Other noncurrent liabilities	$ 1,569.3	$ 1,522.0

Supplemental Information (Schedule of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	Sep. 30, 2010	Sep. 30, 2009
Supplemental Information
Net unrealized holding gain on investments	$ 20.7	$ 10.5
Net unrecognized (loss) on derivatives qualifying as hedges	(21.9)	(25.1)
Foreign currency translation adjustments	(44.1)	(179.8)
Pension and postretirement benefits	(1,114.1)	(967.4)
Total accumulated other comprehensive income (loss)	$ (1,159.4)	$ (1,161.8)

Supplemental Information (Schedule of Other Income (Expenses)) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Supplemental Information
Technology and royalty income	$ 19.0	$ 19.5	$ 18.6
Interest income	3.4	7.4	8.2
Foreign exchange	4.0	(3.8)	3.6
Sale of assets and investments	13.2	(3.0)	6.5
Amortization of intangibles	(8.4)	(10.1)	(9.8)
Property damage and related expenses, net of insurance recoveries	4.1	4.9	(13.5)
Miscellaneous	3.4	8.1	12.2
Other income (expense), net	$ 38.7	$ 23.0	$ 25.8

Supplemental Information (Loss from Property Damage and Additional Income Statement Information) (Narrative) (Details) - USD ($)	1 Months Ended	3 Months Ended				12 Months Ended
	Apr. 30, 2010	Jun. 30, 2010	Dec. 31, 2009	Jun. 30, 2009	Sep. 30, 2008	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Statement [Line Items]
Property damage and related expenses, net of insurance recoveries						$ (4,100,000)	$ (4,900,000)	$ 13,500,000
Write-off of certain receivables, pre-tax						$ 29,500,000	37,800,000	$ 14,400,000
Facility closing costs				$ 9,900,000
Facility closing costs, after-tax				7,100,000
Facility closing costs, per share				0.03
Nitrogen Trifluoride Facility [Member]
Statement [Line Items]
Property damage and related expenses, net of insurance recoveries					$ 14,700,000
Property damage after tax gain (loss)					10,700,000
Property damage, after-tax gain (loss) per share					$ 0.05
Insurance recoveries							3,700,000
Property damage insurance recoveries other income, before-tax							4,900,000
Property damage insurance recoveries other income, after-tax							3,100,000
Property damage insurance recoveries other income, per share							0.01
Damaged property book value adjustment							2,600,000
Additional proceeds from insurance recoveries							$ 2,300,000
Additional proceeds in final settlement of claim, pre-tax			$ 4,100,000
Additional proceeds in final settlement of claim, after-tax			$ 2,600,000
Additional proceeds in final settlement of claim, per share			$ 0.01
Allowance for Certain Notes Receivable [Member]
Statement [Line Items]
Write-off of certain receivables, pre-tax				22,200,000
Write-off of certain receivables, after-tax				13,900,000
Write-off of certain receivables, per share				$ 0.07
Final settlement received		$ 22,400,000
Recovery of certain receivables		$ 16,000,000
Income from previously written off receivables, pre-tax	$ 6,400,000
Income from previously written off receivables, after tax	4,000,000
Income from previously written off receivables, per share	$ 0.02

Summary by Quarter (Schedule of Unaudited Operating Results by Quarter) (Details) - USD ($)
$ / shares in Units, $ in Millions

3 Months Ended

12 Months Ended

Sep. 30, 2010

Jun. 30, 2010

Mar. 31, 2010

Dec. 31, 2009

Sep. 30, 2009

Jun. 30, 2009

Mar. 31, 2009

Dec. 31, 2008

Sep. 30, 2010

Sep. 30, 2009

Sep. 30, 2008

Summary by Quarter (Unaudited)

Sales

$ 2,351.2

$ 2,252.3

$ 2,249.0

$ 2,173.5

$ 2,129.3

$ 1,976.2

$ 1,955.4

$ 2,195.3

$ 9,026.0

$ 8,256.2

$ 10,414.5

Gross profit

656.6

641.2

620.3

604.9

584.3

548.7

515.6

565.5

2,523.0

2,214.1

Acquisition-related costs

34.7

37.9

23.4

96.0

Global cost reduction plan

124.0

174.2

298.2

^[1]

Customer bankruptcy

(4.6)

(1.8)

22.2

(6.4)

22.2

Pension settlement

5.2

6.3

2.7

8.0

11.5

10.7

30.3

Operating income

367.0

336.4

340.6

345.0

328.0

143.8

260.4

114.1

1,389.0

846.3

1,495.8

Income from continuing operations-attributable to Air Products

246.0

114.6

189.3

90.0

1,029.1

639.9

1,090.5

Income (loss) from discontinued operations-attributable to Air Products

(2.1)

(1.4)

16.3

(21.4)

(8.6)

(175.4)

Net income

278.0

261.3

258.4

256.8

243.9

118.0

207.2

73.6

1,054.5

642.7

938.1

Net income attributable to Air Products

$ 272.1

$ 253.2

$ 252.0

$ 251.8

$ 243.9

$ 113.2

$ 205.6

$ 68.6

$ 1,029.1

$ 631.3

$ 909.7

Income from continuing operations attributable to Air Products, per basic share

$ 1.17

$ 0.55

$ 0.90

$ 0.43

$ 4.85

$ 3.05

$ 5.14

Income (loss) from discontinued operations attributable to Air Products, per basic share

(0.01)

0.08

(0.10)

(0.04)

(0.85)

Net income attributable to Air Products, per basic share

$ 1.28

$ 1.19

1.16

0.54

0.98

0.33

4.85

3.01

4.29

Income from continuing operations attributable to Air Products, per diluted share

1.14

0.54

0.89

0.42

4.74

4.97

Income (loss) from discontinued operations attributable to Air Products, per diluted share

(0.01)

0.08

(0.10)

(0.04)

(0.82)

Net income attributable to Air Products, per diluted share

1.25

1.17

1.16

1.13

0.53

0.97

0.32

4.74

2.96

$ 4.15

Dividends declared per common share

0.49

0.45

0.44

$ 1.92

$ 1.79

Market price per common share, high

84.43

80.24

83.80

85.44

80.60

69.93

60.20

68.51

Market price per common share, low

$ 64.13

$ 64.47

$ 65.05

$ 73.76

$ 60.52

$ 54.73

$ 43.44

$ 41.46

[1]	Information about how this charge related to the businesses at the segment level is discussed in Note 5, Global Cost Reduction Plan.

Business Segment and Geographic Information (Schedule of Segment Revenue from External Customers) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Statement [Line Items]
Revenues from External Customers	$ 9,026.0	$ 8,256.2	$ 10,414.5
Merchant Gases [Member]
Statement [Line Items]
Revenues from External Customers	3,718.3	3,610.6	4,192.7
Tonnage Gases [Member]
Statement [Line Items]
Revenues from External Customers	2,930.8	2,573.6	3,574.4
Electronics and Performance Materials [Member]
Statement [Line Items]
Revenues from External Customers	1,904.7	1,582.2	2,209.3
Equipment and Energy [Member]
Statement [Line Items]
Revenues from External Customers	$ 472.2	$ 489.8	$ 438.1

Business Segment and Geographic Information (Schedule of Segment Operating Income) (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Sep. 30, 2010

Jun. 30, 2010

Mar. 31, 2010

Dec. 31, 2009

Sep. 30, 2009

Jun. 30, 2009

Mar. 31, 2009

Dec. 31, 2008

Sep. 30, 2010

Sep. 30, 2009

Sep. 30, 2008

Global cost reduction plan

$ (124.0)

$ (174.2)

$ (298.2)

^[1]

Acquisition-related costs

$ (34.7)

$ (37.9)

$ (23.4)

$ (96.0)

Customer bankruptcy and asset actions

6.4

(32.1)

Pension settlement

(11.5)

$ (10.7)

(11.5)

(10.7)

$ (30.3)

Other

(2.6)

(17.3)

(30.8)

$ 367.0

$ 336.4

$ 340.6

$ 345.0

$ 328.0

$ 143.8

$ 260.4

$ 114.1

1,389.0

846.3

1,495.8

Merchant Gases [Member]

729.4

661.2

789.5

Tonnage Gases [Member]

Electronics and Performance Materials [Member]

444.2

399.6

482.6

Equipment and Energy [Member]

251.8

101.6

245.9

67.3

42.2

38.9

Segment Total [Member]

Allowance for Doubtful Accounts [Member]

$ 1,492.7

$ 1,204.6

$ 1,556.9

[1]	Information about how this charge related to the businesses at the segment level is discussed in Note 5, Global Cost Reduction Plan.

Business Segment and Geographic Information (Schedule of Segment Depreciation and Amortization) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Statement [Line Items]
Segment depreciation and amortization	$ 862.6	$ 838.6	$ 868.9
Other	0.8	1.7	0.1
Consolidated Total	863.4	840.3	869.0
Merchant Gases [Member]
Statement [Line Items]
Segment depreciation and amortization	377.9	372.3	370.2
Tonnage Gases [Member]
Statement [Line Items]
Segment depreciation and amortization	303.0	272.2	278.9
Electronics and Performance Materials [Member]
Statement [Line Items]
Segment depreciation and amortization	169.0	178.2	208.0
Equipment and Energy [Member]
Statement [Line Items]
Segment depreciation and amortization	$ 12.7	$ 15.9	$ 11.8

Business Segment and Geographic Information (Schedule of Segment Equity Affiliates' Income) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Statement [Line Items]
Equity affiliates' income	$ 126.9	$ 112.2	$ 145.0
Other segments [Member]
Statement [Line Items]
Equity affiliates' income	22.6	13.9	13.2
Merchant Gases [Member]
Statement [Line Items]
Equity affiliates' income	$ 104.3	$ 98.3	$ 131.8

Business Segment and Geographic Information (Schedule of Segment Total Assets) (Details) - USD ($) $ in Millions	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Statement [Line Items]
Segment Total	$ 12,481.6	$ 11,935.7	$ 11,680.8
Other	1,022.3	1,088.4	775.2
Discontinued Operations	2.0	5.0	115.3
Total Assets	13,505.9	13,029.1	12,571.3
Merchant Gases [Member]
Statement [Line Items]
Segment Total	5,824.7	5,630.8	5,565.9
Tonnage Gases [Member]
Statement [Line Items]
Segment Total	3,958.1	3,672.0	3,397.8
Electronics and Performance Materials [Member]
Statement [Line Items]
Segment Total	2,336.1	2,299.1	2,388.8
Equipment and Energy [Member]
Statement [Line Items]
Segment Total	$ 362.7	$ 333.8	$ 328.3

Business Segment and Geographic Information (Schedule of Segment Investments in and Advances to Equity Affiliates) (Details) - USD ($) $ in Millions	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Statement [Line Items]
Segment and Consolidated Totals	$ 912.8	$ 868.1	$ 822.6
Merchant Gases [Member]
Statement [Line Items]
Segment and Consolidated Totals	749.4	713.8	684.3
Other segments [Member]
Statement [Line Items]
Segment and Consolidated Totals	$ 163.4	$ 154.3	$ 138.3

Business Segment and Geographic Information (Schedule of Segment Identifiable Assets) (Details) - USD ($) $ in Millions	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Statement [Line Items]
Identifiable assets	$ 11,568.8	$ 11,067.6	$ 10,858.2
Other	1,022.3	1,088.4	775.2
Discontinued Operations	2.0	5.0	115.3
Consolidated Identifiable Assets Total	12,593.1	12,161.0	11,748.7
Merchant Gases [Member]
Statement [Line Items]
Identifiable assets	5,075.3	4,917.0	4,881.6
Tonnage Gases [Member]
Statement [Line Items]
Identifiable assets	3,876.4	3,597.8	3,335.4
Electronics and Performance Materials [Member]
Statement [Line Items]
Identifiable assets	2,275.8	2,249.5	2,341.0
Equipment and Energy [Member]
Statement [Line Items]
Identifiable assets	$ 341.3	$ 303.3	$ 300.2

Business Segment and Geographic Information (Schedule of Segment Expenditures for Long-Lived Assets) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Statement [Line Items]
Expenditures for long-lived assets	$ 1,166.5	$ 1,246.9	$ 1,182.0
Other	0.8	1.1	1.7
Consolidated Expenditures for Long-lived Assets Total	1,167.3	1,248.0	1,183.7
Merchant Gases [Member]
Statement [Line Items]
Expenditures for long-lived assets	447.1	515.4	593.0
Tonnage Gases [Member]
Statement [Line Items]
Expenditures for long-lived assets	557.2	556.5	387.9
Electronics and Performance Materials [Member]
Statement [Line Items]
Expenditures for long-lived assets	139.4	165.2	198.8
Equipment and Energy [Member]
Statement [Line Items]
Expenditures for long-lived assets	$ 22.8	$ 9.8	$ 2.3

Business Segment and Geographic Information (Schedule of Geographic Information - Revenues from External Customers) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Statement [Line Items]
Revenues from External Customers	$ 9,026.0	$ 8,256.2	$ 10,414.5
United States [Member]
Statement [Line Items]
Revenues from External Customers	4,110.2	3,779.8	4,845.1
Canada [Member]
Statement [Line Items]
Revenues from External Customers	260.3	238.6	241.2
Europe [Member]
Statement [Line Items]
Revenues from External Customers	2,819.7	2,765.1	3,448.0
Asia [Member]
Statement [Line Items]
Revenues from External Customers	1,621.0	1,294.2	1,661.3
Latin America/Other [Member]
Statement [Line Items]
Revenues from External Customers	$ 214.8	$ 178.5	$ 218.9

Business Segment and Geographic Information (Schedule of Geographic Information - Long-Lived Assets) (Details)	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Statement [Line Items]
Long-Lived Assets	$9,164.4	$8,906.3	$8,655.1
United States [Member]
Statement [Line Items]
Long-Lived Assets	$3,184.2	$3,180.7	$3,017.0
Canada [Member]
Statement [Line Items]
Long-Lived Assets	608.8	535.2	441.9
Europe [Member]
Statement [Line Items]
Long-Lived Assets	2,779.7	2,873.3	3,048.6
Asia [Member]
Statement [Line Items]
Long-Lived Assets	2,221.0	1,973.0	1,815.3
Latin America [Member]
Statement [Line Items]
Long-Lived Assets	272.1	261.1	255.0
All Other [Member]
Statement [Line Items]
Long-Lived Assets	98.6	83.0	77.3

Business Segment and Geographic Information (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2008
Business Segment and Geographic Information
Export sales to unconsolidated customers	$ 570.5	$ 510.2	$ 629.1

Schedule II-Valuation and Qualifying Accounts (Details) - USD ($)
$ in Millions

12 Months Ended

Sep. 30, 2010

Sep. 30, 2009

Sep. 30, 2008

Balance at beginning of period

$ 65.0

$ 36.0

$ 33.0

Charged to expense

4.0

24.0

10.0

Charged to other accounts

25.0

14.0

4.0

Cumulative translation adjustment

1.0

Other

^[1]

5.0

(10.0)

(11.0)

Balance at end of period

99.0

65.0

36.0

Valuation Allowance of Deferred Tax Assets [Member]