0000002969-18-000044 | 10-K | XBRL Viewer | AIR Products Chemicals INC DE

$ 8,930.2

$ 8,187.6

$ 7,503.7

6,189.5

5,751.5

5,177.3

760.8

713.5

683.8

Business separation costs

64.5

57.6

71.8

0.0

32.5

^[1]

50.6

Goodwill and intangible asset impairment charge

0.0

151.4

^[2]

34.5

0.0

162.1

^[3]

0.0

50.2

121.0

49.4

Operating Income

1,965.6

1,440.0

1,535.1

174.8

^[4]

80.1

^[5]

147.0

Other non-operating income (expense), net

130.5

120.6

115.2

5.1

16.6

(5.4)

Loss on extinguishment of debt

0.0

6.9

Income From Continuing Operations Before Taxes

2,015.0

1,416.1

1,554.6

Income tax provision

524.3

^[4],[6]

260.9

^[7]

432.6

Income From Continuing Operations

1,490.7

1,155.2

1,122.0

Income (Loss) From Discontinued Operations, net of tax

42.2

1,866.0

(460.5)

Net Income

1,532.9

3,021.2

^[8]

661.5

Net Income Attributable to Noncontrolling Interests of Continuing Operations

35.1

20.8

22.5

Net Income Attributable to Noncontrolling Interests of Discontinued Operations

0.0

7.9

Net Income Attributable to Air Products

1,497.8

3,000.4

631.1

Net Income Attributable to Air Products

Income from continuing operations

1,455.6

1,134.4

1,099.5

Income (Loss) from discontinued operations

42.2

^[9]

1,866.0

^[8]

(468.4)

Net Income Attributable to Air Products

$ 1,497.8

$ 3,000.4

$ 631.1

Basic Earnings Per Common Share Attributable to Air Products

Income from continuing operations (in dollars per share)

$ 6.64

$ 5.20

$ 5.08

Income (Loss) from discontinued operations (in dollars per share)

0.19

8.56

(2.16)

Net Income Attributable to Air Products (in dollars per share)

6.83

13.76

2.92

Diluted Earnings Per Common Share Attributable to Air Products

Income from continuing operations (in dollars per share)

6.59

5.16

5.04

Income (Loss) from discontinued operations (in dollars per share)

0.19

8.49

(2.15)

Net Income Attributable to Air Products (in dollars per share)

$ 6.78

$ 13.65

$ 2.89

Weighted Average Common Shares - Basic (in millions)

219.3

218.0

216.4

Weighted Average Common Shares - Diluted (in millions)

220.8

219.8

218.3

[1]	For additional information, refer to Note 4, Materials Technologies Separation.
[2]	For additional information, refer to Note 5, Cost Reduction and Asset Actions.
[3]	For additional information, refer to Note 10, Goodwill, and Note 11, Intangible Assets.
[4]	Includes the impacts of the Tax Act. For additional information, refer to Note 22, Income Taxes.
[5]	Includes the impact of an other-than-temporary impairment of an investment in an equity affiliate. For additional information, refer to Note 8, Summarized Financial Information of Equity Affiliates.
[6]	Includes the impacts of the restructuring of several foreign subsidiaries. For additional information, refer to Note 22, Income Taxes.
[7]	Includes the impact of a tax election benefit related to a non-U.S. subsidiary. For additional information, see Note 22, Income Taxes.
[8]	Includes the after-tax gain on the sale of PMD. For additional information, see Note 3, Discontinued Operations.
[9]	Primarily includes benefits resulting from the resolution of uncertain tax positions related to the disposition of our former European Homecare business and post-closing adjustments associated with the sale of PMD. For additional information, refer to Note 3, Discontinued Operations.

Consolidated Balance Sheets
$ in Millions, ¥ in Billions

Sep. 30, 2018

USD ($)

Sep. 30, 2017

USD ($)

Current Assets

Cash and cash items

$ 2,791.3

$ 3,273.6

Short-term investments

184.7

404.0

Trade receivables, net

1,207.2

1,174.0

Inventories

396.1

335.4

Contracts in progress, less progress billings

77.5

84.8

Prepaid expenses

129.6

191.4

Other receivables and current assets

295.8

403.3

Current assets of discontinued operations

0.0

10.2

Total Current Assets

5,082.2

5,876.7

Investment in net assets of and advances to equity affiliates

1,277.2

1,286.9

Noncurrent capital lease receivables

^[1]

9,923.7

8,440.2

Goodwill, net

788.9

721.5

Intangible assets, net

438.5

368.3

1,013.3

1,131.8

Other noncurrent assets

654.5

641.8

Total Noncurrent Assets

14,096.1

12,590.5

Total Assets

19,178.3

18,467.2

Current Liabilities

Payables and accrued liabilities

1,817.8

1,814.3

Accrued income taxes

59.6

98.6

Short-term borrowings

54.3

144.0

Current portion of long-term debt

406.6

416.4

Current liabilities of discontinued operations

0.0

15.7

Total Current Liabilities

2,338.3

2,489.0

Long-term debt

2,967.4

3,402.4

Long-term debt – related party

^[2]

384.3

0.0

Other noncurrent liabilities

1,536.9

1,611.9

Deferred income taxes

775.1

778.4

Total Noncurrent Liabilities

5,663.7

5,792.7

Total Liabilities

8,002.0

8,281.7

Commitments and Contingencies – See Note 17

Air Products Shareholders’ Equity

Common stock (par value $1 per share; issued 2018 and 2017 - 249,455,584 shares)

249.4

Capital in excess of par value

1,029.3

1,001.1

Retained earnings

13,409.9

12,846.6

Accumulated other comprehensive loss

(1,741.9)

(1,847.4)

Treasury stock, at cost (2018 - 29,940,339 shares; 2017 - 31,109,510 shares)

(2,089.2)

(2,163.5)

Total Air Products Shareholders' Equity

10,857.5

10,086.2

Noncontrolling Interests

318.8

99.3

Total Equity

11,176.3

10,185.5

Total Liabilities and Equity

$ 19,178.3

$ 18,467.2

[1]	Long-lived assets include plant and equipment, net.
[2]	Refer to Note 6, Acquisitions, for additional information regarding related party debt.

Capital Stock (Tables)

12 Months Ended

Sep. 30, 2018

Equity [Abstract]

Schedule of Common Stock Outstanding

The following table reflects the changes in common shares:



Year ended 30 September	2018	2017	2016
Number of Common Shares Outstanding
Balance, beginning of year	218,346,074	217,350,825	215,359,113
Issuance of treasury shares for stock option and award plans	1,169,171	995,249	1,991,712
Balance, end of year	219,515,245	218,346,074	217,350,825

Plant and Equipment, Net (Major Classes of Plant and Equipment) (Details) - USD ($)
$ in Millions

12 Months Ended

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2016

Less: Accumulated depreciation

$ 21,490.2

$ 19,547.8

11,566.5

11,107.6

^[1]

9,923.7

8,440.2

$ 8,259.7

Land

269.4

231.0

Buildings

$ 988.6

977.8

30 years

Production facilities

Production facilities | Minimum

^[2]

$ 15,082.8

13,577.1

Production facilities | Maximum

10 years

Distribution and other machinery and equipment

20 years

Distribution and other machinery and equipment | Minimum

^[3]

$ 4,400.9

3,944.0

Distribution and other machinery and equipment | Maximum

5 years

25 years

Cylinders | Minimum

10 years

Cylinders | Maximum

25 years

Tanks

20 years

Customer Stations

Tractors and Trailers | Minimum

7 years 6 months

Tractors and Trailers | Maximum

5 years

15 years

Construction in progress

$ 748.5

$ 817.9

[1]	Long-lived assets include plant and equipment, net.
[2]	Depreciable lives of production facilities related to long-term customer supply contracts are matched to the contract lives.
[3]	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; and 5 to 15 years for tractors and trailers.

Consolidated Statements of Equity - USD ($) $ in Millions	Total	Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Air Products Shareholders’ Equity	Non-controlling Interests
Beginning balance at Sep. 30, 2015	$ 7,381.1	$ 249.4	$ 904.7	$ 10,580.4	$ (2,125.9)	$ (2,359.6)	$ 7,249.0	$ 132.1
Stockholders' Equity [Roll Forward]
Net income	661.5			631.1			631.1	30.4
Other comprehensive income (loss)	(257.6)				(262.4)		(262.4)	4.8
Dividends on common stock	(733.7)			(733.7)			(733.7)
Dividends to noncontrolling interests	(33.6)							(33.6)
Share-based compensation	37.6		37.6				37.6
Issuance of treasury shares for stock option and award plans	127.1		(5.5)			132.6	127.1
Tax benefit of stock option and award plans	33.2		33.2				33.2
Other equity transactions	(2.2)		0.0	(2.3)			(2.3)	(0.1)
Ending Balance at Sep. 30, 2016	7,213.4	249.4	970.0	10,475.5	(2,388.3)	(2,227.0)	7,079.6	133.8
Stockholders' Equity [Roll Forward]
Net income	3,021.2			3,000.4			3,000.4	20.8
Other comprehensive income (loss)	533.1				529.4		529.4	3.7
Dividends on common stock	(808.5)			(808.5)			(808.5)
Dividends to noncontrolling interests	(28.0)							(28.0)
Share-based compensation	40.7		40.7				40.7
Issuance of treasury shares for stock option and award plans	53.9		(9.6)			63.5	53.9
Spin-off of Versum	152.6			175.0	11.5		186.5	(33.9)
Cumulative change in accounting principle	8.8			8.8			8.8
Other equity transactions	(1.7)			(4.6)			(4.6)	2.9
Ending Balance at Sep. 30, 2017	10,185.5	249.4	1,001.1	12,846.6	(1,847.4)	(2,163.5)	10,086.2	99.3
Stockholders' Equity [Roll Forward]
Net income	1,532.9			1,497.8			1,497.8	35.1
Other comprehensive income (loss)	86.5				105.5		105.5	(19.0)
Dividends on common stock	(931.8)			(931.8)			(931.8)
Dividends to noncontrolling interests	(29.9)							(29.9)
Share-based compensation	38.1		38.1				38.1
Issuance of treasury shares for stock option and award plans	63.0		(11.3)			74.3	63.0
Lu'An joint venture	227.4							227.4
Other equity transactions	4.6		1.4	(2.7)			(1.3)	5.9
Ending Balance at Sep. 30, 2018	$ 11,176.3	$ 249.4	$ 1,029.3	$ 13,409.9	$ (1,741.9)	$ (2,089.2)	$ 10,857.5	$ 318.8

Business Segment and Geographic Information (Reconciliation of Assets) (Details) - USD ($) $ in Millions	Oct. 01, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting Information [Line Items]
Total assets	$ 19,204.5	$ 19,178.3	$ 18,467.2	$ 18,028.6
Segment Total
Segment Reporting Information [Line Items]
Total assets		19,178.3	18,457.0	16,060.1
Discontinued Operations \| Segment Reconciling Items
Segment Reporting Information [Line Items]
Assets of discontinued operations		$ 0.0	$ 10.2	$ 1,968.5

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

3 Months Ended

12 Months Ended

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2017

Sep. 30, 2017

Jun. 30, 2017

Mar. 31, 2017

Dec. 31, 2016

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2016

Oct. 01, 2018

$ 2,298.9

$ 2,259.0

$ 2,155.7

$ 2,216.6

$ 2,203.1

$ 2,121.9

$ 1,980.1

$ 1,882.5

$ 8,930.2

$ 8,187.6

$ 7,503.7

533.7

515.8

455.4

460.7

457.4

258.7

395.6

328.3

1,965.6

1,440.0

1,535.1

970.7

865.8

854.6

59.2

^[1]

$ 58.1

$ 43.7

$ 13.8

^[1]

44.8

$ (36.9)

^[2]

$ 34.2

$ 38.0

174.8

^[1]

80.1

^[2]

147.0

Investment in net assets of and advances to equity affiliates

1,568.4

1,039.7

907.7

1,277.2

1,286.9

1,277.2

1,286.9

19,178.3

18,467.2

19,178.3

18,467.2

18,028.6

$ 19,204.5

Operating Segments

8,930.2

8,187.6

7,503.7

1,941.5

1,773.8

1,620.2

970.7

865.8

854.6

203.3

159.6

147.0

Investment in net assets of and advances to equity affiliates

1,568.4

1,039.7

907.7

1,277.2

1,286.9

1,277.2

1,286.9

1,283.6

Industrial Gases - Americas | Operating Segments

19,178.3

18,457.0

19,178.3

18,457.0

16,060.1

3,758.8

3,637.0

3,344.1

927.9

946.1

891.3

485.3

464.4

443.6

82.0

58.1

52.7

Investment in net assets of and advances to equity affiliates

546.5

427.2

406.6

312.1

287.5

312.1

287.5

250.6

Industrial Gases - EMEA | Operating Segments

5,904.0

5,840.8

5,904.0

5,840.8

5,896.7

2,193.3

1,780.4

1,704.4

445.8

395.5

387.0

198.6

177.1

185.7

61.1

47.1

36.5

Investment in net assets of and advances to equity affiliates

163.1

143.2

159.5

503.3

508.6

503.3

508.6

580.5

Industrial Gases - Asia | Operating Segments

3,280.4

3,276.1

3,280.4

3,276.1

3,178.6

2,458.0

1,964.7

1,720.4

689.9

532.6

452.8

265.8

203.2

197.9

58.3

53.5

57.8

Investment in net assets of and advances to equity affiliates

791.9

337.8

313.3

445.6

471.8

445.6

471.8

442.5

Industrial Gases - Global | Operating Segments

5,899.5

4,412.1

5,899.5

4,412.1

4,232.7

436.1

722.9

498.8

53.9

71.1

(21.5)

8.1

8.9

7.9

1.9

0.9

0.0

Investment in net assets of and advances to equity affiliates

17.3

25.6

6.0

16.2

19.0

16.2

19.0

10.0

Corporate and other | Operating Segments

240.1

279.6

240.1

279.6

367.6

84.0

82.6

236.0

(176.0)

(171.5)

(89.4)

12.9

12.2

19.5

0.0

Investment in net assets of and advances to equity affiliates

49.6

105.9

22.3

0.0

$ 3,854.3

$ 4,648.4

$ 3,854.3

$ 4,648.4

$ 2,384.5

[1]	Includes the impacts of the Tax Act. For additional information, refer to Note 22, Income Taxes.
[2]	Includes the impact of an other-than-temporary impairment of an investment in an equity affiliate. For additional information, refer to Note 8, Summarized Financial Information of Equity Affiliates.

Acquisitions (Narrative) (Details)
$ in Millions, ¥ in Billions

12 Months Ended

Apr. 26, 2018

USD ($)

Apr. 26, 2018

CNY (¥)

Sep. 30, 2018

USD ($)

Sep. 30, 2017

USD ($)

Sep. 30, 2016

USD ($)

Sep. 30, 2018

CNY (¥)

Apr. 26, 2018

CNY (¥)

Additions to plant and equipment

^[1]

$ 9,923.7

$ 8,440.2

$ 8,259.7

1,568.4

1,039.7

$ 907.7

Equity issued related to asset acquisition

227.4

Long-term debt – related party

384.3

^[2]

0.0

^[2]

¥ 2.6

Liability for expected cash payments to or on behalf of related party

330.0

0.0

¥ 2.2

¥ 2.3

Business Acquisition [Line Items]

Business combinations, goodwill acquired during period

$ 78.0

$ 3.5

Joint Venture [Member] | Air Products Lu An Changzhi Co Ltd [Member]

Ownership interest by Air Products (percent)

60.00%

Ownership interest by noncontrolling owners (percent)

40.00%

Contribution of equipment to joint venture

$ 300.0

Additions to plant and equipment

1,500.0

235.0

¥ 1.5

Equity issued related to asset acquisition

227.0

1.4

Air Products Lu An Changzhi Co Ltd [Member] | Joint Venture [Member]

Consideration transferred in asset acquisition

$ 1,200.0

¥ 7.9

Lu'An Loan To Joint Venture | Loans Payable [Member]

Long-term debt – related party | ¥

¥ 2.6

Interest rate, stated percentage

5.50%

2018 Business Combinations

Business Acquisition [Line Items]

Number of business combinations completed in period

Business combinations, aggregate purchase price, net of cash acquired

$ 355.4

Business combinations, plant and equipment acquired during the period

178.4

Business combinations, goodwill acquired during period

78.0

Business combinations, tax deductible goodwill

17.7

Business combinations, recognized identifiable intangible assets

$ 105.8

Acquired finite-lived intangible assets, weighted-average useful life

12 years

[1]	Long-lived assets include plant and equipment, net.
[2]	Refer to Note 6, Acquisitions, for additional information regarding related party debt.

Intangible Assets (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense for intangible assets		$ 30.0	$ 22.6	$ 22.3
Intangible asset impairment charge	$ 16.8

Income Taxes (Significant Components of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Gross Deferred Tax Assets
Retirement benefits and compensation accruals	$ 153.1	$ 370.1
Tax loss carryforwards	143.5	64.5
Tax credits and other tax carryforwards	17.1	76.1
Reserves and accruals	42.5	88.2
Currency losses	3.8	20.7
Other	45.4	37.2
Valuation allowance	(105.0)	(107.7)
Deferred Tax Assets	300.4	549.1
Gross Deferred Tax Liabilities
Plant and equipment	811.8	1,035.6
Unremitted earnings of foreign entities	36.1	20.9
Partnership and other investments	16.3	5.4
Intangible assets	84.3	81.9
Other	5.6	9.2
Deferred Tax Liabilities	954.1	1,153.0
Net Deferred Income Tax Liability	$ 653.7	$ 603.9

Debt (Tables)

12 Months Ended

Sep. 30, 2018

Debt Disclosure [Abstract]

Schedule of Total Debt

The tables below summarize our outstanding debt at 30 September 2018 and 2017:

Total Debt



30 September	2018		2017
Short-term borrowings		$54.3		$144.0
Current portion of long-term debt	406.6		416.4
Long-term debt	2,967.4		3,402.4
Long-term debt – related party^(A)	384.3		—
Total Debt		$3,812.6		$3,962.8

Schedule of Short-term Borrowings

Short-term Borrowings

Schedule of Long-term Debt Instruments

Long-term Debt



30 September	Fiscal Year Maturities	2018			2017
Payable in U.S. Dollars
Debentures
8.75%	2021		$18.4			$18.4
Medium-term Notes (weighted average rate)
Series E 7.6%	2026	17.2			17.2
Senior Notes
Note 1.2%	2018	—			400.0
Note 4.375%	2019	400.0			400.0
Note 3.0%	2022	400.0			400.0
Note 2.75%	2023	400.0			400.0
Note 3.35%	2024	400.0			400.0
Other (weighted average rate)
Variable-rate industrial revenue bonds 1.51%	2035 to 2050	631.9			631.9
Other .25%	2019 to 2022	.9			10.9
Payable in Other Currencies
Eurobonds 2.0%	2020	348.1			354.4
Eurobonds .375%	2021	406.2			413.5
Eurobonds 1.0%	2025	348.1			354.4
Other 4.3%	2019 to 2023	8.0			25.8
Related Party^(A)
Chinese Renminbi 5.5%	2020 to 2026	384.3			—
Capital Lease Obligations
United States 5.0%	2018	—			.2
Foreign 10.4%	2019 to 2036	10.5			10.6
Total Principal Amount		3,773.6			3,837.3
Less: Unamortized discount and debt issuance costs		(15.3		)	(18.5		)
Total Long-term Debt		3,758.3			3,818.8
Less: Current portion of long-term debt		(406.6		)	(416.4		)
Less: Long-term debt – related party		(384.3		)	—
Long-term Debt			$2,967.4			$3,402.4

Schedule of Maturities of Long-term Debt

Maturities of long-term debt, including related party, in each of the next five years and beyond are as follows:



2019		$406.6
2020	380.9
2021	473.9
2022	448.3
2023	448.8
Thereafter	1,615.1
Total		$3,773.6

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Acquisitions	12 Months Ended
Acquisitions	Sep. 30, 2018
Acquisitions [Abstract]
Acquisitions Disclosure [Text Block]	ACQUISITIONS Asset Acquisition On 9 September 2017, Air Products signed an agreement to form a joint venture, Air Products Lu An (Changzhi) Co., Ltd. (“the JV”) with Lu’An Clean Energy Company ("Lu’An"). On 26 April 2018 ("the acquisition date"), we completed the formation of the JV, of which Air Products owns 60% and Lu’An owns 40%. The JV receives coal, steam and power from Lu’An and supplies syngas to Lu’An under a long-term onsite contract. The JV is consolidated within the results of the Industrial Gases – Asia segment. Air Products contributed four large air separation units to the JV with a carrying value of approximately $300, and the JV acquired gasification and syngas clean-up assets from Lu’An for 7.9 billion RMB (approximately $1.2 billion). As a result, the carrying value of the plant and equipment of the JV was approximately $1.5 billion at the acquisition date. We accounted for the acquisition of the gasification and syngas clean-up assets as an asset acquisition. In connection with closing the acquisition, we paid net cash of approximately 1.5 billion RMB ($235) and issued equity of 1.4 billion RMB ($227) to Lu'An for their noncontrolling interest in the JV. In addition, Lu'An made a loan of 2.6 billion RMB to the JV with regularly scheduled principal and interest payments at a fixed interest rate of 5.5%, and we established a liability of 2.3 billion RMB for cash payments expected to be made to or on behalf of Lu'An in fiscal year 2019. As of 30 September 2018, long-term debt payable to Lu'An of 2.6 billion RMB ($384) is presented on the consolidated balance sheets as "Long-term debt – related party," and our expected remaining cash payments of approximately 2.2 billion RMB ($330) are presented within "Payables and accrued liabilities." The issuance of equity to Lu'An for their noncontrolling interest, the long-term debt, and the liability for the remaining cash payments were noncash transactions; therefore, they have been excluded from the consolidated statement of cash flows for the fiscal year ended 30 September 2018. Business Combinations In fiscal year 2018, we completed eight acquisitions that were accounted for as business combinations. These acquisitions had an aggregate purchase price, net of cash acquired, of $355.4. The largest of the acquisitions was completed during the first quarter of fiscal year 2018 and consisted primarily of three air separation units serving onsite and merchant customers in China. This acquisition is expected to strengthen our position in the region. The results of this business are consolidated within our Industrial Gases – Asia segment. Our fiscal year 2018 business combinations resulted in the recognition of $178.4 of plant and equipment, $78.0 of goodwill, $17.7 of which is deductible for tax purposes, and $105.8 of intangible assets, primarily customer relationships, having a weighted-average useful life of twelve years. The goodwill recognized on the transactions is attributable to expected growth and cost synergies and was primarily recorded in the Industrial Gases – Asia and the Industrial Gases – EMEA segments. Our 2018 business combinations did not materially impact our consolidated income statements for the periods presented.

Cost Reduction and Asset Actions (Narrative) (Details)
$ in Millions

3 Months Ended

12 Months Ended

Sep. 30, 2017

USD ($)

^[1]

Jun. 30, 2017

USD ($)

^[1]

Mar. 31, 2017

USD ($)

^[1]

Dec. 31, 2016

USD ($)

^[1]

Sep. 30, 2018

USD ($)

Sep. 30, 2017

USD ($)

position

Sep. 30, 2016

USD ($)

position

$ 48.4

$ 42.7

$ 10.3

$ 50.0

$ 0.0

$ 151.4

^[1]

$ 34.5

Cost Reduction Actions

Cost Reduction Actions | Industrial Gases - Americas

154.8

34.5

Cost Reduction Actions | Industrial Gases - EMEA

39.3

Cost Reduction Actions | Industrial Gases - Asia

77.9

Cost Reduction Actions | Industrial Gases - Global

0.9

Cost Reduction Actions | Corporate and other

2.5

Cost Reduction Actions | Severance and Other Benefits

34.2

Number of positions eliminated | position

$ 66.3

$ 34.5

625

610

Cost Reduction Actions | Asset Actions/Other

Business Realignment and Reorganization

$ 88.5

$ 0.0

Favorable restructuring reserve settlement

$ 3.4

[1]	For additional information, refer to Note 5, Cost Reduction and Asset Actions.

Business Segment and Geographic Information (Reconciliation of Equity Affiliates' Income) (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Sep. 30, 2018

^[1]

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2017

^[1]

Sep. 30, 2017

Jun. 30, 2017

^[2]

Mar. 31, 2017

Dec. 31, 2016

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2016

Tax reform repatriation - equity method investment

$ 0.0

$ (79.5)

$ 0.0

(28.5)

Segment Reconciling Items

$ 59.2

$ 58.1

$ 43.7

$ 13.8

$ 44.8

$ (36.9)

$ 34.2

$ 38.0

174.8

^[1]

80.1

^[2]

147.0

Tax reform repatriation - equity method investment

0.0

(79.5)

0.0

(28.5)

0.0

Segment Total

$ 203.3

$ 159.6

$ 147.0

[1]	Includes the impacts of the Tax Act. For additional information, refer to Note 22, Income Taxes.
[2]	Includes the impact of an other-than-temporary impairment of an investment in an equity affiliate. For additional information, refer to Note 8, Summarized Financial Information of Equity Affiliates.

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee.

+ References + Details

Leases (Minimum Operating Lease Payments Receivable) (Details) $ in Millions	Sep. 30, 2018 USD ($)
Minimum Operating Lease Payments Expected to be Collected
2019	$ 261.5
2020	259.1
2021	255.8
2022	251.5
2023	244.9
Thereafter	2,904.8
Total	$ 4,177.6

Share-Based Compensation (Narrative) (Details) $ / shares in Units, $ in Millions		12 Months Ended
	Oct. 03, 2016 $ / shares	Sep. 30, 2018 USD ($) $ / shares shares	Sep. 30, 2017 USD ($) $ / shares shares	Sep. 30, 2016 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future grant \| shares		4,869,212
Stock options granted \| shares		0	0	0
Closing stock price (in dollars per share) \| $ / shares	$ 140.38	$ 167.05		$ 150.35
Cash received from option exercises		$ 76.2	$ 68.4	$ 141.3
Conversion ratio for separation adjustments	1.071
Deferred Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units/shares granted \| shares		249,000
Weighted-average grant date fair value (in dollars per share) \| $ / shares		$ 179.21
Cash payments made for deferred stock units		$ 2.2	2.1	2.9
Unrecognized compensation costs		$ 40.5
Unrecognized compensation costs, period for recognition, years		1 year 7 months 6 days
Fair value of deferred stock units paid		$ 38.5	$ 36.6	$ 41.6
Deferred Stock Units \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting or deferral period		2 years
Deferred Stock Units \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting or deferral period		5 years
Director Deferred Stock Units \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period after service in which to elect payment		10 years
Market-Based Deferred Stock Unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting or deferral period		3 years
Number of units/shares granted \| shares		105,268	117,692	130,167
Weighted-average grant date fair value (in dollars per share) \| $ / shares		$ 202.50	$ 156.87	$ 135.49
Time-Based Deferred Stock Unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units/shares granted \| shares		143,379	165,121	164,711
Weighted-average grant date fair value (in dollars per share) \| $ / shares		$ 162.11	$ 143.75	$ 128.03
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting or deferral period		3 years
Unrecognized compensation costs		$ 0.0
Exercisable period from grant date		10 years
Intrinsic value of stock options exercised		$ 90.4	$ 57.3	$ 115.3
Cash received from option exercises		76.2
Tax benefit realized from stock option exericses		25.8
Excess tax benefit		19.0
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs		$ 0.1
Unrecognized compensation costs, period for recognition, years		6 months
Fair value of vested restricted stock		$ 2.2	$ 4.1	$ 4.3
Restricted Stock \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting or deferral period		1 year
Restricted Stock \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting or deferral period		4 years

Financial Instruments (Schedule of Interest Rate Management Contracts and Cross Currency Interest Rate Swaps) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Interest Rate Swaps Contracts \| Designated as Hedging Instrument \| Fair Value Hedges
Derivative [Line Items]
US$ Notional	$ 600.0	$ 600.0
Average Pay %	LIBOR	LIBOR
Average Receive %	2.60%	2.28%
Years Average Maturity	1 year 7 months 6 days	1 year 3 months 18 days
Cross Currency Interest Rate Swaps \| Designated as Hedging Instrument \| Net Investment Hedges
Derivative [Line Items]
US$ Notional	$ 201.7	$ 539.7
Average Pay %	4.42%	3.27%
Average Receive %	2.97%	2.59%
Years Average Maturity	3 years 1 month 6 days	1 year 10 months 24 days
Cross Currency Interest Rate Swaps \| Designated as Hedging Instrument \| Cash Flow Hedges
Derivative [Line Items]
US$ Notional	$ 1,052.7	$ 1,095.7
Average Pay %	4.99%	4.96%
Average Receive %	2.89%	2.78%
Years Average Maturity	2 years 3 months 18 days	2 years 4 months 24 days
Cross Currency Interest Rate Swaps \| Not Designated as Hedging Instrument
Derivative [Line Items]
US$ Notional	$ 80.2	$ 41.6
Average Pay %	4.88%	3.28%
Average Receive %	3.43%	2.32%
Years Average Maturity	3 years 10 months 24 days	1 year 8 months 12 days

Leases (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
Leases (Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Leases [Abstract]
Capital leases, plant and equipment	$ 21.6	$ 22.3
Capital leases, accumulated depreciation	6.1	5.3
Operating leases, rent expense	82.7	65.8	$ 67.6
Capital leases, present value future lease payments	10.5
Lessor, total lease payments collected	182.7	183.6	186.0
Lessor, payments reducing lease receivable	97.4	92.2	$ 85.5
Property, Plant and Equipment [Line Items]
Plant and equipment, at cost	21,490.2	19,547.8
Accumulated depreciation	11,566.5	$ 11,107.6
Assets Leased to Others
Property, Plant and Equipment [Line Items]
Plant and equipment, at cost	2,400.0
Accumulated depreciation	$ 400.0

Share-Based Compensation (Compensation Cost Recognized in Income Statement) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Before-Tax Share-Based Compensation	$ 38.8	$ 40.7	$ 37.6
Discontinued Operations
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Before-Tax Share-Based Compensation	0.0	0.8	6.6
Continuing Operations
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Before-Tax Share-Based Compensation	38.8	39.9	31.0
Income Tax Benefit	(9.1)	(14.0)	(10.8)
After-Tax Share-Based Compensation	$ 29.7	$ 25.9	$ 20.2

Retirement Benefits (Pension Plan Assets at Fair Value by Asset Class) (Details) - Defined Benefit Pension Plan - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 217.7	$ 49.2	$ 53.1
Level 3 \| Other pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	7.8	7.3
Level 3 \| Insurance contracts
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	217.7	41.4	45.8
U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,684.9	2,869.2	2,705.3
U.S. \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	13.8	13.6
U.S. \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	397.9	598.6
U.S. \| Equity mutual funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	173.8	276.5
U.S. \| Equity pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	545.2	787.0
U.S. \| Debt securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,344.6	985.7
U.S. \| US pension plans at fair value
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,475.3	2,661.4
U.S. \| Real estate pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	209.6	207.8
U.S. \| Level 1 \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	13.8	13.6
U.S. \| Level 1 \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	397.9	598.6
U.S. \| Level 1 \| Equity mutual funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	173.8	276.5
U.S. \| Level 1 \| Equity pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
U.S. \| Level 1 \| Debt securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
U.S. \| Level 1 \| US pension plans at fair value
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	585.5	888.7
U.S. \| Level 2 \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
U.S. \| Level 2 \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
U.S. \| Level 2 \| Equity mutual funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
U.S. \| Level 2 \| Equity pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	545.2	787.0
U.S. \| Level 2 \| Debt securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,344.6	985.7
U.S. \| Level 2 \| US pension plans at fair value
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,889.8	1,772.7
U.S. \| Level 3 \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
U.S. \| Level 3 \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
U.S. \| Level 3 \| Equity mutual funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
U.S. \| Level 3 \| Equity pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
U.S. \| Level 3 \| Debt securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
U.S. \| Level 3 \| US pension plans at fair value
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,588.2	1,540.0	$ 1,411.1
International \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	15.8	7.3
International \| Equity pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	727.9	821.4
International \| Fixed income pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	615.2	651.3
International \| Other pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	11.6	18.6
International \| Insurance contracts
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	217.7	41.4
International \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	15.8	7.3
International \| Level 1 \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	15.8	7.3
International \| Level 1 \| Equity pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
International \| Level 1 \| Fixed income pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
International \| Level 1 \| Other pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
International \| Level 1 \| Insurance contracts
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
International \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,354.7	1,483.5
International \| Level 2 \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
International \| Level 2 \| Equity pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	727.9	821.4
International \| Level 2 \| Fixed income pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	615.2	651.3
International \| Level 2 \| Other pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	11.6	10.8
International \| Level 2 \| Insurance contracts
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
International \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	217.7	49.2
International \| Level 3 \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
International \| Level 3 \| Equity pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
International \| Level 3 \| Fixed income pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
International \| Level 3 \| Other pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	7.8
International \| Level 3 \| Insurance contracts
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 217.7	$ 41.4

Commitments and Contingencies (Asset Retirement Obligations) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Asset Retirement Obligation [Roll Forward]
Asset retirement obligations, beginning of period	$ 144.7	$ 119.9
Additional accruals	43.8	22.7
Liabilities settled	(2.6)	(4.1)
Accretion expense	7.2	5.8
Currency translation adjustment	(2.7)	0.4
Asset retirement obligations, end of period	$ 190.4	$ 144.7

Share-Based Compensation (Summary of Restricted Stock) (Details) - Restricted Stock shares in Thousands	12 Months Ended
	Sep. 30, 2018 $ / shares shares
Shares
Outstanding, beginning (shares) \| shares	56
Vested (shares) \| shares	(14)
Outstanding, ending (shares) \| shares	42
Weighted Average Grant Date Fair Value
Outstanding, beginning (in dollars per share) \| $ / shares	$ 135.74
Vested (in dollars per share) \| $ / shares	121.90
Outstanding, ending (in dollars per share) \| $ / shares	$ 140.28

Share-Based Compensation (Tables)

12 Months Ended

Sep. 30, 2018

Schedule of Recognized Share-Based Compensation Cost

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



	2018			2017			2016
Before-Tax Share-Based Compensation Cost – Total		$38.8			$40.7			$37.6
Before-Tax Share-Based Compensation Cost – Discontinued Operations	—			.8			6.6
Before-Tax Share-Based Compensation Cost – Continuing Operations		$38.8			$39.9			$31.0
Income tax benefit – Continuing Operations	(9.1		)	(14.0		)	(10.8		)
After-Tax Share-Based Compensation Cost – Continuing Operations		$29.7			$25.9			$20.2

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

On a total company basis, before-tax share-based compensation cost by type of program was as follows:



	2018		2017		2016
Deferred stock units		$38.3		$34.5		$29.9
Stock options	.2		1.4		4.2
Restricted stock	.3		4.8		3.5
Before-Tax Share-Based Compensation Cost – Total		$38.8		$40.7		$37.6

Schedule of Assumptions for Fair Value of Market-Based Deferred Stock Units

The calculation of the fair value used the following assumptions:



	2018		2017		2016
Expected volatility	18.7	%	20.6	%	20.5	%
Risk-free interest rate	1.9	%	1.4	%	1.2	%
Expected dividend yield	2.6	%	2.5	%	2.2	%

Schedule of Deferred Stock Units and Restricted Stock Activity



Deferred Stock Units	Shares (000)		Weighted Average Grant-Date Fair Value
Outstanding at 30 September 2017	975			$127.29
Granted	249		179.21
Paid out	(237	)	134.99
Forfeited/adjustments	(47	)	153.57
Outstanding at 30 September 2018	940			$137.78

A summary of restricted stock activity is presented below:



Restricted Stock	Shares (000)		Weighted Average Grant-Date Fair Value
Outstanding at 30 September 2017	56			$135.74
Vested	(14	)	121.90
Outstanding at 30 September 2018	42			$140.28

Schedule of Stock Option Activity

A summary of stock option activity is presented below:



Stock Options	Shares (000)		Weighted Average Exercise Price
Outstanding at 30 September 2017	3,202			$84.85
Exercised	(1,015	)	75.15
Forfeited	(1	)	124.76
Outstanding and Exercisable at 30 September 2018	2,186			$89.33

Inventories (Schedule of Inventory) (Details) - USD ($) $ in Millions	Oct. 01, 2018	Sep. 30, 2018	Sep. 30, 2017
Inventory Disclosure [Abstract]
Finished goods		$ 125.4	$ 120.0
Work in process		21.2	15.7
Raw materials, supplies and other		249.5	223.0
Total FIFO Cost		396.1	358.7
Less: Excess of FIFO cost over LIFO cost		0.0	(23.3)
Inventories	$ 396.1	$ 396.1	$ 335.4

Debt

12 Months Ended

Sep. 30, 2018

Debt Disclosure [Abstract]

Debt

DEBT

The tables below summarize our outstanding debt at 30 September 2018 and 2017:

Total Debt



30 September	2018		2017
Short-term borrowings		$54.3		$144.0
Current portion of long-term debt	406.6		416.4
Long-term debt	2,967.4		3,402.4
Long-term debt – related party^(A)	384.3		—
Total Debt		$3,812.6		$3,962.8


^(A)	Refer to Note 6, Acquisitions, for additional information regarding related party debt.

Short-term Borrowings

Short-term borrowings consisted of bank obligations of $54.3 and $144.0 at 30 September 2018 and 2017, respectively. The weighted average interest rate of short-term borrowings outstanding at 30 September 2018 and 2017 was 5.0% and 4.6%, respectively.

Long-term Debt



30 September	Fiscal Year Maturities	2018			2017
Payable in U.S. Dollars
Debentures
8.75%	2021		$18.4			$18.4
Medium-term Notes (weighted average rate)
Series E 7.6%	2026	17.2			17.2
Senior Notes
Note 1.2%	2018	—			400.0
Note 4.375%	2019	400.0			400.0
Note 3.0%	2022	400.0			400.0
Note 2.75%	2023	400.0			400.0
Note 3.35%	2024	400.0			400.0
Other (weighted average rate)
Variable-rate industrial revenue bonds 1.51%	2035 to 2050	631.9			631.9
Other .25%	2019 to 2022	.9			10.9
Payable in Other Currencies
Eurobonds 2.0%	2020	348.1			354.4
Eurobonds .375%	2021	406.2			413.5
Eurobonds 1.0%	2025	348.1			354.4
Other 4.3%	2019 to 2023	8.0			25.8
Related Party^(A)
Chinese Renminbi 5.5%	2020 to 2026	384.3			—
Capital Lease Obligations
United States 5.0%	2018	—			.2
Foreign 10.4%	2019 to 2036	10.5			10.6
Total Principal Amount		3,773.6			3,837.3
Less: Unamortized discount and debt issuance costs		(15.3		)	(18.5		)
Total Long-term Debt		3,758.3			3,818.8
Less: Current portion of long-term debt		(406.6		)	(416.4		)
Less: Long-term debt – related party		(384.3		)	—
Long-term Debt			$2,967.4			$3,402.4


^(A)	Refer to Note 6, Acquisitions, for additional information regarding related party debt.

Maturities of long-term debt, including related party, in each of the next five years and beyond are as follows:



2019		$406.6
2020	380.9
2021	473.9
2022	448.3
2023	448.8
Thereafter	1,615.1
Total		$3,773.6

Various debt agreements to which we are a party include financial covenants and other restrictions, including restrictions pertaining to the ability to create property liens and enter into certain sale and leaseback transactions. As of 30 September 2018, we are in compliance with all the financial and other covenants under our debt agreements.

Additional commitments totaling $7.0 are maintained by our foreign subsidiaries, all of which were borrowed and outstanding at 30 September 2018.

Cash paid for interest, net of amounts capitalized, was $123.1, $125.9, and $120.6 in fiscal years 2018, 2017, and 2016, respectively.

2017 Credit Agreement

On 31 March 2017, we entered into a five-year $2,500.0 revolving credit agreement maturing 31 March 2022 with a syndicate of banks (the “2017 Credit Agreement”), under which senior unsecured debt is available to both the Company and certain of its subsidiaries. On 28 September 2018, we amended the 2017 Credit Agreement to reduce the maximum borrowing capacity to $2,300.0. No other terms were impacted by the amendment.

The 2017 Credit Agreement provides a source of liquidity for the Company and supports its commercial paper program. The Company’s only financial covenant under the 2017 Credit Agreement is a maximum ratio of total debt to total capitalization (total debt plus total equity) no greater than 70%. No borrowings were outstanding under the 2017 Credit Agreement as of 30 September 2018.

Loss on Extinguishment of Debt

In September 2016, we exchanged notes issued to us by Versum in anticipation of the spin-off. The exchange resulted in a loss of $6.9. Refer to Note 4, Materials Technologies Separation, for additional information.

Intangible Assets (Tables)

12 Months Ended

Sep. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule Finite-Lived Intangible Assets

The table below provides details of acquired intangible assets:



	30 September 2018							30 September 2017
	Gross		Accumulated Amortization/ Impairment			Net		Gross		Accumulated Amortization/ Impairment			Net
Customer relationships		$491.9		($165.5	)		$326.4		$424.1		($142.3	)		$281.8
Patents and technology	34.0		(11.9		)	22.1		13.4		(10.6		)	2.8
Other	72.6		(33.8		)	38.8		73.4		(36.6		)	36.8
Total finite-lived intangibles	598.5		(211.2		)	387.3		510.9		(189.5		)	321.4
Trade names and trademarks, indefinite-lived	64.8		(13.6		)	51.2		67.8		(20.9		)	46.9
Total Intangible Assets		$663.3		($224.8	)		$438.5		$578.7		($210.4	)		$368.3

Schedule of Indefinite-Lived Intangible Assets

The table below provides details of acquired intangible assets:



	30 September 2018							30 September 2017
	Gross		Accumulated Amortization/ Impairment			Net		Gross		Accumulated Amortization/ Impairment			Net
Customer relationships		$491.9		($165.5	)		$326.4		$424.1		($142.3	)		$281.8
Patents and technology	34.0		(11.9		)	22.1		13.4		(10.6		)	2.8
Other	72.6		(33.8		)	38.8		73.4		(36.6		)	36.8
Total finite-lived intangibles	598.5		(211.2		)	387.3		510.9		(189.5		)	321.4
Trade names and trademarks, indefinite-lived	64.8		(13.6		)	51.2		67.8		(20.9		)	46.9
Total Intangible Assets		$663.3		($224.8	)		$438.5		$578.7		($210.4	)		$368.3

Schedule of Projected Annual Amortization Expense

Projected annual amortization expense for intangible assets as of 30 September 2018 is as follows:



2019		$32.7
2020	32.4
2021	30.5
2022	27.8
2023	27.3
Thereafter	236.6
Total		$387.3

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

3 Months Ended

12 Months Ended

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2017

Sep. 30, 2017

Jun. 30, 2017

Mar. 31, 2017

Dec. 31, 2016

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2016

Revenues from External Customers and Long-Lived Assets [Line Items]

$ 2,298.9

$ 2,259.0

$ 2,155.7

$ 2,216.6

$ 2,203.1

$ 2,121.9

$ 1,980.1

$ 1,882.5

$ 8,930.2

$ 8,187.6

$ 7,503.7

Revenues from External Customers and Long-Lived Assets [Line Items]

^[1]

9,923.7

8,440.2

9,923.7

8,440.2

8,259.7

United States

3,149.6

2,886.8

2,911.7

Europe, including Middle East

^[1]

3,512.7

3,407.4

3,512.7

3,407.4

3,411.4

Revenues from External Customers and Long-Lived Assets [Line Items]

2,292.5

2,478.5

2,186.5

Asia, excluding China and India

^[1]

1,283.3

1,279.0

1,283.3

1,279.0

1,292.5

Revenues from External Customers and Long-Lived Assets [Line Items]

904.0

849.6

721.4

Revenues from External Customers and Long-Lived Assets [Line Items]

^[1]

899.8

778.5

899.8

778.5

707.0

China

1,585.7

1,143.4

1,020.4

^[1]

3,066.6

1,737.9

3,066.6

1,737.9

1,675.8

Revenues from External Customers and Long-Lived Assets [Line Items]

^[2]

998.4

829.3

663.7

^[1],[2]

$ 1,161.3

$ 1,237.4

$ 1,161.3

$ 1,237.4

$ 1,173.0

[1]	Long-lived assets include plant and equipment, net.
[2]	Includes Canada, Latin America, and India.

Cost Reduction and Asset Actions (Carrying Amount of Accrual) (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Sep. 30, 2017

Jun. 30, 2017

^[1]

Mar. 31, 2017

^[1]

Dec. 31, 2016

^[1]

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2016

$ 48.4

^[1]

$ 42.7

$ 10.3

$ 50.0

$ 0.0

$ 151.4

^[1]

$ 34.5

Cost Reduction Actions

Amount reflected in pension liability

154.8

34.5

Noncash expenses

(84.2)

Cash expenditures

(31.2)

(36.9)

(21.6)

(0.4)

(2.0)

(0.9)

Amount reflected in other noncurrent liabilities

(2.2)

Currency translation adjustment

(0.3)

0.3

Accrued Balance

41.5

9.9

41.5

12.3

Cost Reduction Actions | Severance and Other Benefits

Amount reflected in pension liability

66.3

34.5

Noncash expenses

0.0

Cash expenditures

(30.3)

(35.7)

(21.6)

(0.4)

(2.0)

(0.9)

Amount reflected in other noncurrent liabilities

0.0

Currency translation adjustment

(0.3)

0.3

Accrued Balance

40.6

9.9

40.6

12.3

Cost Reduction Actions | Asset Actions/Other

Amount reflected in pension liability

88.5

0.0

Noncash expenses

(84.2)

Cash expenditures

(0.9)

(1.2)

0.0

0.0

Amount reflected in other noncurrent liabilities

(2.2)

Currency translation adjustment

0.0

Accrued Balance

$ 0.9

$ 0.0

$ 0.9

$ 0.0

[1]	For additional information, refer to Note 5, Cost Reduction and Asset Actions.

Business Segment and Geographic Information (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting Information [Line Items]
Sales	$ 2,298.9	$ 2,259.0	$ 2,155.7	$ 2,216.6	$ 2,203.1	$ 2,121.9	$ 1,980.1	$ 1,882.5	$ 8,930.2	$ 8,187.6	$ 7,503.7
Export sales to third-party customers									33.1	64.2	134.9
Industrial Gases - Global \| Intersegment Eliminations
Segment Reporting Information [Line Items]
Sales									$ 254.3	$ 239.0	$ 232.4

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

12 Months Ended

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2016

Allowance for Doubtful Accounts

SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]

Balance at Beginning of Period

$ 94

$ 55

$ 48

Additions Charged to Expense

Additions Charged to Other Accounts

Other Changes

^[1]

(27)

(7)

(15)

Balance at End of Period

Allowance for Deferred Tax Assets

SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]

Balance at Beginning of Period

108

165

112

Additions Charged to Expense

Additions Charged to Other Accounts

^[2]

Other Changes

^[1]

(10)

(70)

^[3]

Balance at End of Period

$ 105

$ 108

$ 165

[1]	Other changes related to allowance for doubtful accounts primarily includes write-offs of uncollectible trade receivables, net of recoveries. Other Changes also includes the impact of foreign currency translation adjustments.
[2]	The increase in the valuation allowance was primarily due to the loss recorded on the exit from the Energy-from-Waste business. These costs were recorded in discontinued operations. See Note 3, Discontinued Operations, for additional information.
[3]	The decrease in the valuation allowance was primarily due to the utilization of federal and state loss carryforwards as a result of recognizing the gain on the sale of our PMD business. This benefit was recorded in discontinued operations. See Note 3, Discontinued Operations, for additional information.

Fair Value Measurements

12 Months Ended

Sep. 30, 2018

Fair Value Disclosures [Abstract]

Fair Value Measurements

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 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 our own assumptions (about the assumptions market participants would use in pricing the asset or liability).

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

Short-term Investments

Short-term investments include time deposits with original maturities greater than three months and less than one year. The estimated fair value of the short-term investments, which approximates carrying value as of 30 September 2018 and 2017, was determined using level 2 inputs within the fair value hierarchy. Level 2 measurements were based on current interest rates for similar investments with comparable credit risk and time to maturity.

Derivatives

The fair value of our interest rate management contracts and forward 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 as well as currency spot and forward rates. Therefore, the fair value of our derivatives is classified as a level 2 measurement. On an ongoing basis, we randomly test a subset of our valuations against valuations received from the transaction’s counterparty to validate the accuracy of our standard pricing models. 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.

Long-term Debt, Including Related Party

The fair value of our 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. Therefore, the fair value of our debt is classified as a level 2 measurement. We generally perform the computation of the fair value of these instruments.

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



	30 September 2018				30 September 2017
	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets
Derivatives
Forward exchange contracts		$68.8		$68.8		$109.9		$109.9
Interest rate management contracts	77.3		77.3		117.9		117.9
Liabilities
Derivatives
Forward exchange contracts		$80.2		$80.2		$98.0		$98.0
Interest rate management contracts	13.9		13.9		33.9		33.9
Long-term debt, including current portion	3,758.3		3,788.2		3,818.8		3,928.2

The carrying amounts reported on the consolidated balance sheets for cash and cash items, short-term investments, 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 following table summarizes assets and liabilities measured at fair value on a recurring basis in the consolidated balance sheets:



	30 September 2018								30 September 2017
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Assets at Fair Value
Derivatives
Forward exchange contracts		$68.8		$—		$68.8		$—		$109.9		$—		$109.9		$—
Interest rate management contracts	77.3		—		77.3		—		117.9		—		117.9		—
Total Assets at Fair Value		$146.1		$—		$146.1		$—		$227.8		$—		$227.8		$—
Liabilities at Fair Value
Derivatives
Forward exchange contracts		$80.2		$—		$80.2		$—		$98.0		$—		$98.0		$—
Interest rate management contracts	13.9		—		13.9		—		33.9		—		33.9		—
Total Liabilities at Fair Value		$94.1		$—		$94.1		$—		$131.9		$—		$131.9		$—

The following is a tabular presentation of nonrecurring fair value measurements along with the level within the fair value hierarchy in which the fair value measurement in its entirety falls:

30 June 2017

2017 Loss

Total

Level 1

Level 2

Level 3

Investment in Equity Affiliate^(A)

$68.5

$—

$68.5

$79.5

^(A)

In fiscal year 2017, we assessed the recoverability of the carrying value of our equity investment in AHG. We estimated the fair value of our investment using weighting of the results of the income and market approaches. An impairment loss was recognized for the difference between the carrying amount and the fair value of the investment as of 30 June 2017. There have been no events during fiscal year 2018 requiring reassessment of our investment. For additional information, see Note 8, Summarized Financial Information of Equity Affiliates.

During the third quarter ended 30 June 2017, we recognized a goodwill impairment charge of $145.3 and an intangible asset impairment charge of $16.8 associated with our LASA reporting unit. Refer to Note 10, Goodwill, and Note 11, Intangible Assets, for more information related to these charges and the associated fair value measurement methods and significant inputs/assumptions, which were classified as Level 3 since unobservable inputs were utilized in the fair value measurements.

Schedule of Net Periodic Benefit Cost

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Retirement Benefits (Tables) - Defined Benefit Pension Plan

12 Months Ended

Sep. 30, 2018

The cost of our defined benefit pension plans in fiscal years 2018, 2017, and 2016 included the following components:



	2018						2017						2016
	U.S.			International			U.S.			International			U.S.			International
Service cost		$25.5			$25.5			$29.0			$25.9			$36.5			$24.3
Interest cost	107.2			37.3			107.5			32.2			110.7			44.3
Expected return on plan assets	(201.6		)	(81.7		)	(207.7		)	(75.2		)	(202.0		)	(78.3		)
Amortization
Net actuarial loss	87.4			40.2			88.7			54.7			85.3			35.6
Prior service cost (credit)	1.6			—			2.3			(.1		)	2.8			(.2		)
Settlements	45.0			3.5			10.5			1.7			5.1			1.3
Curtailments	—			—			4.3			(1.3		)	—			(1.1		)
Special termination benefits	.4			—			2.8			.4			2.0			—
Other	—			1.5			—			1.1			(.3		)	2.1
Net Periodic Benefit Cost – Total		$65.5			$26.3			$37.4			$39.4			$40.1			$28.0
Less: Discontinued Operations	—			—			(.7		)	(4.1		)	(7.9		)	(4.4		)
Net Periodic Benefit Cost – Continuing Operations		$65.5			$26.3			$36.7			$35.3			$32.2			$23.6

Schedule of Assumptions Used in The Calculation of Net Periodic Pension Cost and PBO

We calculate net periodic benefit 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 benefit cost:



	2018				2017				2016
	U.S.		International		U.S.		International		U.S.		International
Discount rate – Service cost	3.9	%	2.6	%	3.6	%	2.1	%	4.5	%	3.4	%
Discount rate – Interest cost	3.3	%	2.2	%	3.0	%	1.8	%	3.6	%	2.9	%
Expected return on plan assets	7.5	%	5.8	%	8.0	%	6.1	%	8.0	%	6.3	%
Rate of compensation increase	3.5	%	3.6	%	3.5	%	3.5	%	3.5	%	3.5	%

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:



	2018				2017
	U.S.		International		U.S.		International
Discount rate	4.3	%	2.5	%	3.8	%	2.4	%
Rate of compensation increase	3.5	%	3.5	%	3.5	%	3.6	%

Schedule of Changes in Projected Benefit Obligations



	2018						2017
	U.S.			International			U.S.			International
Change in Projected Benefit Obligation
Obligation at beginning of year		$3,357.7			$1,749.5			$3,477.7			$1,849.6
Service cost	25.5			25.5			29.0			25.9
Interest cost	107.2			37.3			107.5			32.2
Amendments	.1			.7			1.9			—
Actuarial gain	(217.8		)	(33.9		)	(68.0		)	(132.4		)
Divestitures	—			—			—			(34.1		)
Curtailments	—			—			(17.3		)	(4.2		)
Settlements	(193.0		)	(24.6		)	7.0			—
Special termination benefits	.4			—			2.8			—
Participant contributions	—			1.4			—			1.4
Benefits paid	(157.3		)	(51.3		)	(182.9		)	(46.5		)
Currency translation/other	—			(44.1		)	—			57.6
Obligation at End of Year		$2,922.8			$1,660.5			$3,357.7			$1,749.5

Schedule of Changes in Fair Value of Plan Assets



	2018						2017
	U.S.			International			U.S.			International
Change in Plan Assets
Fair value at beginning of year		$2,869.2			$1,540.0			$2,705.3			$1,411.1
Actual return on plan assets	150.2			115.5			319.6			87.9
Company contributions	14.6			53.7			27.2			42.2
Participant contributions	—			1.4			—			1.4
Divestitures	—			—			—			(3.0		)
Benefits paid	(157.3		)	(51.3		)	(182.9		)	(46.5		)
Settlements	(191.8		)	(24.6		)	—			(5.3		)
Currency translation/other	—			(46.5		)	—			52.2
Fair Value at End of Year		$2,684.9			$1,588.2			$2,869.2			$1,540.0
Funded Status at End of Year		($237.9	)		($72.3	)		($488.5	)		($209.5	)

Schedule of Amounts Recognized in Balance Sheet



Amounts Recognized
Noncurrent assets		$28.2		$103.5		$5.3		$13.1
Accrued liabilities	23.5		1.2		12.6		—
Noncurrent liabilities	242.6		174.6		481.2		222.6
Net Liability Recognized		$237.9		$72.3		$488.5		$209.5

Schedule of Amounts Recognized in Other Comprehensive Income (Loss)

The changes in plan assets and benefit obligation that have been recognized in other comprehensive income on a pretax basis during fiscal years 2018 and 2017 consist of the following:



	2018						2017
	U.S.			International			U.S.			International
Net actuarial gain arising during the period		($167.7	)		($64.6	)		($189.8	)		($162.0	)
Amortization of net actuarial loss	(132.4		)	(43.7		)	(103.3		)	(55.7		)
Prior service cost arising during the period	.1			.7			1.9			—
Amortization of prior service cost	(1.6		)	—			(2.3		)	.1
Total		($301.6	)		($107.6	)		($293.5	)		($217.6	)

Schedule of Components Recognized in Accumulated Other Comprehensive Income on Pretax Basis

The components recognized in accumulated other comprehensive loss on a pretax basis at 30 September consisted of the following:



	2018					2017
	U.S.		International			U.S.		International
Net actuarial loss		$680.4		$443.6			$980.5		$551.9
Prior service cost (credit)	6.6		(1.1		)	8.1		(1.8		)
Net transition liability	—		.4			—		.4
Total		$687.0		$442.9			$988.6		$550.5

Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year

The amount of accumulated other comprehensive loss at 30 September 2018 that is expected to be recognized as a component of net periodic pension cost during fiscal year 2019, excluding discontinued operations and amounts that may be recognized through settlement losses, is as follows:



	U.S.		International
Net actuarial loss		$65.1		$11.2
Prior service cost (credit)	1.0		(.2		)

Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets

The following table provides information on pension plans where the benefit liability exceeds the value of plan assets:



	30 September 2018				30 September 2017
	U.S.		International		U.S.		International
Pension Plans with PBO in Excess of Plan Assets:
PBO		$2,733.6		$452.6		$3,116.7		$465.7
Fair value of plan assets	2,467.5		276.8		2,623.0		243.1
Pension Plans with ABO in Excess of Plan Assets:
ABO		$2,608.6		$357.9		$2,951.0		$365.6
Fair value of plan assets	2,467.5		228.2		2,623.0		197.1

Schedule of Target and Actual Asset Allocations by Category

The actual and target allocations at the measurement date are as follows:



	2018 Target Allocation						2018 Actual Allocation				2017 Actual Allocation
	U.S.			International			U.S.		International		U.S.		International
Asset Category
Equity securities	38	-	48%	40	-	49%	41	%	46	%	58	%	53	%
Debt securities	44	-	54%	50	-	60%	50	%	53	%	34	%	46	%
Real estate/other	—	-	10%	—	-	—%	8	%	—	%	7	%	1	%
Cash			—%			—%	1	%	1	%	1	%	—	%
Total							100	%	100	%	100	%	100	%

Schedule of Allocation of Plan Assets

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



	30 September 2018								30 September 2017
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
U.S. Qualified Pension Plans
Cash and cash equivalents		$13.8		$13.8		$—		$—		$13.6		$13.6		$—		$—
Equity securities	397.9		397.9		—		—		598.6		598.6		—		—
Equity mutual funds	173.8		173.8		—		—		276.5		276.5		—		—
Equity pooled funds	545.2		—		545.2		—		787.0		—		787.0		—
Fixed income:
Bonds (government and corporate)	1,344.6		—		1,344.6		—		985.7		—		985.7		—
Total U.S. Qualified Pension Plans at Fair Value		$2,475.3		$585.5		$1,889.8		$—		$2,661.4		$888.7		$1,772.7		$—
Real estate pooled funds^(A)		$209.6								$207.8
Total U.S. Qualified Pension Plans		$2,684.9								$2,869.2
International Pension Plans
Cash and cash equivalents		$15.8		$15.8		$—		$—		$7.3		$7.3		$—		$—
Equity pooled funds	727.9		—		727.9		—		821.4		—		821.4		—
Fixed income pooled funds	615.2		—		615.2		—		651.3		—		651.3		—
Other pooled funds	11.6		—		11.6		—		18.6		—		10.8		7.8
Insurance contracts	217.7		—		—		217.7		41.4		—		—		41.4
Total International Pension Plans		$1,588.2		$15.8		$1,354.7		$217.7		$1,540.0		$7.3		$1,483.5		$49.2

^(A)

Real estate pooled funds consist of funds that invest in properties. Interests in these funds are valued using the net asset value ("NAV") per share practical expedient and are not classified in the fair value hierarchy. During fiscal year 2018, we identified that these investments were improperly included in the fair value hierarchy table of our 2017 Form 10-K. Accordingly, we have updated the prior period to conform with the appropriate current year presentation.

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets

The following table summarizes changes in fair value of the pension plan assets classified as Level 3, by asset class:



	Other Pooled Funds			Insurance Contracts			Total
30 September 2016		$7.3			$45.8			$53.1
Actual return on plan assets:
Assets held at end of year	1.2			(1.0		)	.2
Assets sold during the period	.3			—			.3
Purchases, sales, and settlements, net	(1.0		)	(3.4		)	(4.4		)
30 September 2017		$7.8			$41.4			$49.2
Actual return on plan assets:
Assets held at end of year	—			.9			.9
Assets sold during the period	.5			—			.5
Purchases, sales, and settlements, net	(8.3		)	175.4			167.1
30 September 2018		$—			$217.7			$217.7

Schedule of Expected Benefit Payments

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



	U.S.		International
2019		$165.5		$52.8
2020	152.4		53.9
2021	157.0		55.6
2022	163.7		56.0
2023	167.9		60.6
2024-2028	900.2		336.8

Earnings per Share (Tables)

12 Months Ended

Sep. 30, 2018

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Earnings Per Share

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



30 September	2018		2017		2016
Numerator
Income from continuing operations		$1,455.6		$1,134.4		$1,099.5
Income (Loss) from discontinued operations	42.2		1,866.0		(468.4		)
Net Income Attributable to Air Products		$1,497.8		$3,000.4		$631.1
Denominator (in millions)
Weighted average common shares — Basic	219.3		218.0		216.4
Effect of dilutive securities
Employee stock option and other award plans	1.5		1.8		1.9
Weighted average common shares — Diluted	220.8		219.8		218.3
Basic EPS Attributable to Air Products
Income from continuing operations		$6.64		$5.20		$5.08
Income (Loss) from discontinued operations	.19		8.56		(2.16		)
Net Income Attributable to Air Products		$6.83		$13.76		$2.92
Diluted EPS Attributable to Air Products
Income from continuing operations		$6.59		$5.16		$5.04
Income (Loss) from discontinued operations	.19		8.49		(2.15		)
Net Income Attributable to Air Products		$6.78		$13.65		$2.89

Income Taxes (Narrative) (Details) - USD ($) $ in Millions		3 Months Ended	9 Months Ended		12 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Millions	Apr. 17, 2018	Dec. 31, 2017	Sep. 30, 2018	Jun. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2015
Income Taxes [Line Items]
U.S. federal statutory tax rate		35.00%	21.00%		24.50%	35.00%	35.00%
Discrete net tax expense related to Tax Act					$ 180.6
Reduction in equity affiliate income for impacts of the Tax Act					28.5
Provisional tax expense for deemed repatriation tax and additional foreign taxes on repatriation of earnings					392.4
Provisional tax expense for deemed repatriation tax					322.1
Provisional tax expense for additional foreign taxes on repatriation of earnings					70.3
Provisional tax benefit for re-measurement of net U.S. deferred tax liabilities at lower corporate tax rate					211.8
Non-recurring benefit related to U.S. taxation of deemed foreign dividends					56.2
Deemed repatriation tax obligation after application of foreign tax credits			$ 203.2		203.2
Deemed repatriation tax obligation in noncurrent liabilities			184.4		184.4	$ 0.0
Cash paid for taxes (net of cash refunds)					372.0	1,348.8	$ 440.8
Tax benefit from restructuring of foreign subsidiaries					(35.7)
Excess tax benefits from share-based compensation					$ 21.5	$ 17.6
Effective tax rate					26.00%	18.40%	27.80%
Income tax benefit on tax losses from foreign holding company						$ (111.4)
Goodwill impairment charge						145.3
Goodwill impairment charge deductible for tax purposes						0.0
Business separation additional income tax expense							$ 51.8
Foreign earnings repatriated							443.8
Deferred tax assets, valuation allowance			105.0		$ 105.0	107.7
Previously undistributed earnings of foreign subsidiaries and corporate joint ventures					5,800.0
Cumulative undistributed earnings			3,200.0		3,200.0
US Income and foreign withholding taxes estimate			420.4		420.4
Unrecognized tax benefits			233.6		233.6	146.4	90.2	$ 83.8
Unrecognized tax benefits that would impact effective tax rate			88.6		88.6	73.8
Interest and penalties related to unrecognized tax benefits					(2.4)	3.7	1.8
Accrued interest and penalties			8.4		8.4	12.1
Additions for tax positions of prior years					119.2	16.1	2.9
Additions for tax positions of the current year					26.4	47.5	12.5
Settlement of uncertainties related to unrecognized tax benefits	$ 43.1				14.2	2.0	$ 5.6
Discontinued Operations, Held-for-sale or Disposed of by Sale \| Performance Materials Division (PMD)
Income Taxes [Line Items]
Gain on sale						2,870.0
Industrial Gases - Americas
Income Taxes [Line Items]
Goodwill impairment charge				$ 145.3		$ 145.3
Foreign Loss Carryforwards
Income Taxes [Line Items]
Deferred tax assets, valuation allowance			56.0		56.0
Foreign Capital Losses
Income Taxes [Line Items]
Deferred tax assets, valuation allowance			47.9		47.9
Discontinued Operations
Income Taxes [Line Items]
Tax benefit related to settlement and release of reserves					25.6
Continuing Operations
Income Taxes [Line Items]
Tax benefit related to settlement and release of reserves					9.1
State
Income Taxes [Line Items]
Operating loss carryforwards			324.9		324.9
Tax credit carryforwards			1.9		1.9
Foreign
Income Taxes [Line Items]
Operating loss carryforwards			340.6		340.6
Operating loss carryforwards not subject to expiration			121.8		121.8
Tax credit carryforwards			21.6		21.6
Indefinite tax credit carryforwards			$ 16.4		$ 16.4

Fair Value Measurements (Schedule of Nonrecurring Fair Value Measurements) (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Jun. 30, 2017

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2016

Abdullah Hashim Industrial Gases & Equipment Co., Ltd.

$ 0.0

$ 79.5

$ 0.0

Abdullah Hashim Industrial Gases & Equipment Co., Ltd. | Fair Value, Measurements, Nonrecurring

$ 79.5

^[1]

Abdullah Hashim Industrial Gases & Equipment Co., Ltd. | Level 1 | Fair Value, Measurements, Nonrecurring

^[1]

68.5

Abdullah Hashim Industrial Gases & Equipment Co., Ltd. | Level 2 | Fair Value, Measurements, Nonrecurring

^[1]

0.0

Abdullah Hashim Industrial Gases & Equipment Co., Ltd. | Level 3 | Fair Value, Measurements, Nonrecurring

^[1]

0.0

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

^[1]

$ 68.5

[1]

Income Taxes (Tables)

12 Months Ended

Sep. 30, 2018

Income Tax Disclosure [Abstract]

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



	2018		2017		2016
Income from Continuing Operations before Taxes
United States		$688.5		$669.8		$631.7
Foreign	1,151.7		666.2		775.9
Income from equity affiliates	174.8		80.1		147.0
Total		$2,015.0		$1,416.1		$1,554.6

Schedule of Components of Income Tax Expense (Benefit)

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



	2018			2017			2016
Current Tax Provision
Federal		$305.1			$62.8			$171.0
State	17.7			7.0			21.2
Foreign	256.9			229.1			178.6
	579.7			298.9			370.8
Deferred Tax Provision
Federal	(121.7		)	1.4			45.0
State	12.5			6.0			2.8
Foreign	53.8			(45.4		)	14.0
	(55.4		)	(38.0		)	61.8
Income Tax Provision		$524.3			$260.9			$432.6

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the differences between the United States federal statutory tax rate and the effective tax rate is as follows:



(Percent of income before taxes)	2018		2017		2016
U.S. federal statutory tax rate	24.5	%	35.0	%	35.0	%
State taxes, net of federal benefit	1.0		1.0		1.2
Income from equity affiliates	(2.1	)	(2.0	)	(3.3	)
Foreign tax differentials	(1.0	)	(7.9	)	(6.6	)
Tax on foreign repatriated earnings	(.4	)	(2.2	)	(3.1	)
Domestic production activities	(.4	)	(.8	)	(.8	)
Share-based compensation	(1.0	)	(1.2	)	—
Tax reform repatriation	19.5		—		—
Tax reform rate change and other	(11.1	)	—		—
Tax restructuring benefit	(1.8	)	—		—
Non-deductible goodwill impairment charge	—		3.6		—
Non-U.S. subsidiary tax election	—		(7.7	)	—
Business separation costs	—		.2		4.2
Other	(1.2	)	.4		1.2
Effective Tax Rate	26.0	%	18.4	%	27.8	%

Schedule of Components of Deferred Tax Assets and Liabilities

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



30 September	2018			2017
Gross Deferred Tax Assets
Retirement benefits and compensation accruals		$153.1			$370.1
Tax loss carryforwards	143.5			64.5
Tax credits and other tax carryforwards	17.1			76.1
Reserves and accruals	42.5			88.2
Currency losses	3.8			20.7
Other	45.4			37.2
Valuation allowance	(105.0		)	(107.7		)
Deferred Tax Assets	300.4			549.1
Gross Deferred Tax Liabilities
Plant and equipment	811.8			1,035.6
Unremitted earnings of foreign entities	36.1			20.9
Partnership and other investments	16.3			5.4
Intangible assets	84.3			81.9
Other	5.6			9.2
Deferred Tax Liabilities	954.1			1,153.0
Net Deferred Income Tax Liability		$653.7			$603.9

Schedule of Deferred Tax Assets and Liabilities Included in Consolidated Financial Statements

Deferred tax assets and liabilities are included within the consolidated financial statements as follows:



	2018		2017
Deferred Tax Assets
Other noncurrent assets		$121.4		$174.5
Deferred Tax Liabilities
Deferred income taxes	775.1		778.4
Net Deferred Income Tax Liability		$653.7		$603.9

Schedule Of Deferred Tax Assets For Tax Credits [Table Text Block]

As of 30 September 2018, the Company had the following deferred tax assets for certain tax credits:

Summary of Tax Credit Carryforwards [Table Text Block]

At 30 September 2018, the Company had the following loss carryforwards:

Schedule of Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of the unrecognized tax benefits is as follows:



Unrecognized Tax Benefits	2018			2017			2016
Balance at beginning of year		$146.4			$90.2			$83.8
Additions for tax positions of the current year	26.4			47.5			12.5
Additions for tax positions of prior years	119.2			16.1			2.9
Reductions for tax positions of prior years	(41.3		)	(4.0		)	—
Settlements	(14.2		)	(2.0		)	(5.6		)
Statute of limitations expiration	(2.6		)	(3.2		)	(2.9		)
Foreign currency translation	(.3		)	1.8			(.5		)
Balance at End of Year		$233.6			$146.4			$90.2

Schedule of Income Tax Examinations

We generally remain subject to examination in the following major tax jurisdictions for the years indicated below:



Major Tax Jurisdiction	Open Tax Years
North America
United States – Federal	2015	-	2018
United States – All States	2011	-	2018
Canada	2014	-	2018
Europe
France	2015	-	2018
Germany	2013	-	2018
Netherlands	2012	-	2018
Spain	2015	-	2018
United Kingdom	2014	-	2018
Asia
China	2013	-	2018
South Korea	2010	-	2018
Taiwan	2013	-	2018
Latin America
Chile	2015	-	2018

Financial Instruments (Tables)

12 Months Ended

Sep. 30, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Instruments

The following table summarizes our outstanding interest rate management contracts and cross currency interest rate swaps:



	30 September 2018							30 September 2017
	US$ Notional		Average Pay %		Average Receive %		Years Average Maturity	US$ Notional		Average Pay %		Average Receive %		Years Average Maturity
Interest rate swaps (fair value hedge)		$600.0	LIBOR		2.60	%	1.6		$600.0	LIBOR		2.28	%	1.3
Cross currency interest rate swaps (net investment hedge)		$201.7	4.42	%	2.97	%	3.1		$539.7	3.27	%	2.59	%	1.9
Cross currency interest rate swaps (cash flow hedge)		$1,052.7	4.99	%	2.89	%	2.3		$1,095.7	4.96	%	2.78	%	2.4
Cross currency interest rate swaps (not designated)		$80.2	4.88	%	3.43	%	3.9		$41.6	3.28	%	2.32	%	1.7

The table below summarizes our outstanding currency price risk management instruments:



	30 September 2018			30 September 2017
	US$ Notional		Years Average Maturity	US$ Notional		Years Average Maturity
Forward Exchange Contracts
Cash flow hedges		$2,489.1	0.4		$3,150.2	0.4
Net investment hedges	457.5		1.7	675.5		3.0
Not designated	1,736.1		0.8	273.8		0.1
Total Forward Exchange Contracts		$4,682.7	0.7		$4,099.5	0.8

Schedule of Fair Value of Derivative Instruments

The table below summarizes the fair value and balance sheet location of our outstanding derivatives:



	Balance Sheet	30 September				Balance Sheet	30 September
	Location	2018		2017		Location	2018		2017
Derivatives Designated as Hedging Instruments:
Forward exchange contracts	Other receivables		$24.9		$81.7	Accrued liabilities		$37.0		$82.0
Interest rate management contracts	Other receivables	24.3		11.1		Accrued liabilities	2.3		10.7
Forward exchange contracts	Other noncurrent assets	19.8		27.1		Other noncurrent liabilities	4.6		13.8
Interest rate management contracts	Other noncurrent assets	48.7		102.6		Other noncurrent liabilities	11.6		22.2
Total Derivatives Designated as Hedging Instruments			$117.7		$222.5			$55.5		$128.7
Derivatives Not Designated as Hedging Instruments:
Forward exchange contracts	Other receivables	7.9		1.1		Accrued liabilities		$14.9		$2.2
Interest rate management contracts	Other receivables	4.0		—		Accrued liabilities	—		1.0
Forward exchange contracts	Other noncurrent assets	16.2		—		Other noncurrent liabilities	23.7		—
Interest rate management contracts	Other noncurrent assets	.3		4.2		Other noncurrent liabilities	—		—
Total Derivatives Not Designated as Hedging Instruments			$28.4		$5.3			$38.6		$3.2
Total Derivatives			$146.1		$227.8			$94.1		$131.9

Schedule of Gains and Losses Related to Derivative Instruments

The table below summarizes the gain or loss related to our cash flow hedges, fair value hedges, net investment hedges, and derivatives not designated as hedging instruments:



	Year Ended 30 September
	Forward Exchange Contracts						Foreign Currency Debt					Other^(A)						Total
	2018			2017			2018		2017			2018			2017			2018			2017
Cash Flow Hedges, net of tax:
Net gain (loss) recognized in OCI (effective portion)		$2.4			$.3			$—		$—			$43.5			($12.9	)		$45.9			($12.6	)
Net (gain) loss reclassified from OCI to sales/cost of sales (effective portion)	7.1			18.3			—		—			—			—			7.1			18.3
Net (gain) loss reclassified from OCI to other income (expense), net (effective portion)	(7.8		)	(3.8		)	—		—			(33.8		)	10.5			(41.6		)	6.7
Net (gain) loss reclassified from OCI to interest expense (effective portion)	1.2			(2.1		)	—		—			3.9			2.9			5.1			.8
Net (gain) loss reclassified from OCI to other income (expense), net (ineffective portion)	(.5		)	(1.6		)	—		—			(.5		)	—			(1.0		)	(1.6		)
Fair Value Hedges:
Net gain (loss) recognized in interest expense^(B)		$—			$—			$—		$—			($10.1	)		($14.7	)		($10.1	)		($14.7	)
Net Investment Hedges, net of tax:
Net gain (loss) recognized in OCI		($.6	)		($11.1	)		$10.2		($32.8	)		$11.0			($15.6	)		$20.6			($59.5	)
Derivatives Not Designated as Hedging Instruments:
Net gain (loss) recognized in other income (expense), net^(C)		($4.0	)		$4.1			$—		$—			($.8	)		($2.4	)		($4.8	)		$1.7


^(A)	Other includes the impact on other comprehensive income (OCI) and earnings primarily related to interest rate and cross currency interest rate swaps.


^(B)	The impact of fair value hedges noted above was largely offset by recognized gains and losses resulting from the impact of changes in related interest rates on outstanding debt.

^(C)

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

Discontinued Operations (Narrative) (Details)
$ / shares in Units, $ in Millions

3 Months Ended

12 Months Ended

Jan. 03, 2017

USD ($)

Oct. 01, 2016

Dec. 31, 2016

USD ($)

Sep. 30, 2018

USD ($)

Sep. 30, 2017

USD ($)

$ / shares

Sep. 30, 2016

USD ($)

Sep. 30, 2015

USD ($)

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Income (loss) from discontinued operations, net of tax

$ 42.2

$ 1,866.0

$ (460.5)

Current assets of discontinued operations

0.0

10.2

Current liabilities of discontinued operations

0.0

15.7

Liabilities associated with EfW

63.3

65.3

Deferred tax assets, valuation allowance

105.0

107.7

Unrecognized tax benefits

233.6

146.4

90.2

$ 83.8

Discontinued Operations

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Income (loss) from discontinued operations, net of tax

42.2

1,866.0

(460.5)

25.6

Adjustment to prior gain (loss) on disposal, net of tax

17.6

Assets of discontinued operations

0.0

Current liabilities of discontinued operations

15.7

Electronic Materials Division (EMD) | Discontinued Operations, Spinoff

1,780.5

^[1]

(846.6)

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Income (loss) from discontinued operations, net of tax

240.2

Distribution ratio of common stock in spin-off

0.5

Performance Materials Division (PMD) | Discontinued Operations, Held-for-sale or Disposed of by Sale

0.0

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Income (loss) from discontinued operations, net of tax

1,923.9

183.5

Proceeds from sale

$ 3,800.0

Gain on sale, before tax

2,870.0

Gain on sale, after tax, per share | $ / shares

$ 1,827.6

^[1]

0.0

$ 8.32

Energy-from-Waste (EfW) | Discontinued Operations, Held-for-sale or Disposed of by Sale

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Income (loss) from discontinued operations, net of tax

$ (1.0)

$ (57.9)

(884.2)

^[2]

Current assets of discontinued operations

10.2

Loss on disposal, before tax

$ (47.1)

(846.6)

$ 59.3

945.7

Loss on disposal, after tax

$ 47.1

846.6

Deferred tax assets, valuation allowance

58.0

Unrecognized tax benefits

$ 7.9

[1]	After-tax gain on sale of $1,827.6 includes expense for income tax reserves for uncertain tax positions of $28.0 gross ($21.0 net) in various jurisdictions.
[2]	The loss from operations of discontinued operations for EfW primarily relates to project suspension costs, land lease obligations, and administrative costs.

Summarized Financial Information of Equity Affiliates (Narrative) (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Apr. 19, 2015

Jun. 30, 2017

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2016

Schedule of Equity Method Investments [Line Items]

Dividends received from equity affiliates

$ 122.5

$ 99.5

$ 95.9

Investment in net assets of and advances to equity affiliates

1,277.2

1,286.9

Goodwill associated with affiliate companies accounted for by equity method

42.4

45.8

Reduction in equity affiliate income for impacts of the Tax Act

28.5

Obligation for future contribution to equity affiliate

0.0

79.5

0.0

$ 94.4

94.4

Abdullah Hashim Industrial Gases & Equipment Co., Ltd.

Schedule of Equity Method Investments [Line Items]

Ownership interest percentage

$ 79.5

79.5

^[1]

25.00%

Abdullah Hashim Industrial Gases & Equipment Co., Ltd. | Industrial Gases - EMEA

Schedule of Equity Method Investments [Line Items]

Ownership interest percentage

25.00%

Jazan Gas Projects Company

Schedule of Equity Method Investments [Line Items]

Ownership interest percentage

25.00%

Oxygen and nitrogen supply agreement, term

20 years

Obligation for future contribution to equity affiliate

$ 94.4

94.4

Noncash transaction, increase to investment

0.0

$ 26.9

Total expected investment

100.0

Foreign affiliates

Schedule of Equity Method Investments [Line Items]

Investment in net assets of and advances to equity affiliates

$ 1,276.0

$ 1,285.1

[1]

Retirement Benefits (Assumptions in Calculating Net Periodic Benefit Cost) (Details)	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
U.S.
Defined Benefit Plan Disclosure [Line Items]
Expected return on plan assets	7.50%
International
Defined Benefit Plan Disclosure [Line Items]
Expected return on plan assets	5.80%
Defined Benefit Pension Plan \| U.S.
Defined Benefit Plan Disclosure [Line Items]
Discount rate – Service cost	3.90%	3.60%	4.50%
Discount rate – Interest cost	3.30%	3.00%	3.60%
Expected return on plan assets	7.50%	8.00%	8.00%
Rate of compensation increase	3.50%	3.50%	3.50%
Defined Benefit Pension Plan \| International
Defined Benefit Plan Disclosure [Line Items]
Discount rate – Service cost	2.60%	2.10%	3.40%
Discount rate – Interest cost	2.20%	1.80%	2.90%
Expected return on plan assets	5.80%	6.10%	6.30%
Rate of compensation increase	3.60%	3.50%	3.50%

Supplemental Information (Other Noncurrent Assets) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Supplemental Information [Abstract]
Derivative instruments	$ 85.0	$ 133.9
Noncurrent customer receivable	92.4	62.6
Prepaid tax	13.2	5.1
Deferred tax assets	121.4	174.5
Pension benefits	131.7	18.4
Deposits	0.0	34.8
Other	210.8	212.5
Other noncurrent assets	$ 654.5	$ 641.8

Plant and Equipment, Net

12 Months Ended

Sep. 30, 2018

Property, Plant and Equipment [Abstract]

Plant and Equipment, Net

PLANT AND EQUIPMENT, NET

The major classes of plant and equipment are as follows:



30 September	Useful Life in years			2018		2017
Land					$269.4		$231.0
Buildings			30	988.6		977.8
Production facilities^(A)	10	to	20	15,082.8		13,577.1
Distribution and other machinery and equipment^(B)	5	to	25	4,400.9		3,944.0
Construction in progress				748.5		817.9
Plant and equipment, at cost				21,490.2		19,547.8
Less: Accumulated depreciation				11,566.5		11,107.6
Plant and equipment, net					$9,923.7		$8,440.2


^(A)	Depreciable lives of production facilities related to long-term customer supply contracts 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; and 5 to 15 years for tractors and trailers.

The increase in our production facilities during fiscal year 2018 primarily relates to the Lu'An asset acquisition completed in April 2018. Refer to Note 6, Acquisitions, for additional information.

Depreciation expense was $940.7, $843.2, and $832.3 in fiscal years 2018, 2017, and 2016, respectively.

Leases (Energy-from-Waste Narrative) (Details) $ in Millions	Sep. 30, 2018 USD ($)
Operating Leases
2019	$ 65.9
2020	50.4
2021	41.4
2022	30.4
2023	23.3
Thereafter	123.0
Total	334.4
Energy-from-Waste (EfW)
Operating Leases
2019	2.0
2020	2.0
2021	2.0
2022	2.0
2023	2.0
Thereafter	40.0
Total	$ 50.0

Retirement Benefits (Summary of Changes in Pension Plan Assets Fair Value Classified as Level 3) (Details) - Defined Benefit Pension Plan - Level 3 - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value at beginning of year	$ 49.2	$ 53.1
Actual return on plan assets:
Assets held at end of year	0.9	0.2
Assets sold during the period	0.5	0.3
Purchases, sales, and settlements, net	167.1	(4.4)
Fair value at end of year	217.7	49.2
Other pooled funds
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value at beginning of year	7.8	7.3
Actual return on plan assets:
Assets held at end of year	0.0	1.2
Assets sold during the period	0.5	0.3
Purchases, sales, and settlements, net	(8.3)	(1.0)
Fair value at end of year	0.0	7.8
Insurance contracts
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value at beginning of year	41.4	45.8
Actual return on plan assets:
Assets held at end of year	0.9	(1.0)
Assets sold during the period	0.0	0.0
Purchases, sales, and settlements, net	175.4	(3.4)
Fair value at end of year	$ 217.7	$ 41.4

Retirement Benefits (Amounts Recognized on Balance Sheet) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Defined Benefit Plan Disclosure [Line Items]
Noncurrent assets	$ 131.7	$ 18.4
Accrued liabilities	34.1	22.6
Defined Benefit Pension Plan \| U.S.
Defined Benefit Plan Disclosure [Line Items]
Noncurrent assets	28.2	5.3
Accrued liabilities	23.5	12.6
Noncurrent liabilities	242.6	481.2
Net Liability Recognized	237.9	488.5
Defined Benefit Pension Plan \| International
Defined Benefit Plan Disclosure [Line Items]
Noncurrent assets	103.5	13.1
Accrued liabilities	1.2	0.0
Noncurrent liabilities	174.6	222.6
Net Liability Recognized	$ 72.3	$ 209.5

Capital Stock (Preferred Stock Narrative) (Details) - $ / shares	Sep. 30, 2018	Sep. 30, 2017
Class of Stock [Line Items]
Preferred stock, shares authorized	25,000,000
Perferred stock, par value (in dollars per share)	$ 1
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Series A Junior Participating Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares authorized	2,500,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

Income Taxes (Income of U.S and Foreign Operations Before Taxes) (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Sep. 30, 2018

^[1]

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2017

^[1]

Sep. 30, 2017

Jun. 30, 2017

^[2]

Mar. 31, 2017

Dec. 31, 2016

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2016

Income from Continuing Operations before Taxes

United States

$ 688.5

$ 669.8

$ 631.7

Foreign

1,151.7

666.2

775.9

Income From Continuing Operations Before Taxes

$ 59.2

$ 58.1

$ 43.7

$ 13.8

$ 44.8

$ (36.9)

$ 34.2

$ 38.0

174.8

^[1]

80.1

^[2]

147.0

$ 2,015.0

$ 1,416.1

$ 1,554.6

[1]	Includes the impacts of the Tax Act. For additional information, refer to Note 22, Income Taxes.
[2]	Includes the impact of an other-than-temporary impairment of an investment in an equity affiliate. For additional information, refer to Note 8, Summarized Financial Information of Equity Affiliates.

Schedule of Carrying Values and Fair Values of Financial Instruments

+ References + Details

Fair Value Measurements (Tables)

12 Months Ended

Sep. 30, 2018

Fair Value Disclosures [Abstract]

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



	30 September 2018				30 September 2017
	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets
Derivatives
Forward exchange contracts		$68.8		$68.8		$109.9		$109.9
Interest rate management contracts	77.3		77.3		117.9		117.9
Liabilities
Derivatives
Forward exchange contracts		$80.2		$80.2		$98.0		$98.0
Interest rate management contracts	13.9		13.9		33.9		33.9
Long-term debt, including current portion	3,758.3		3,788.2		3,818.8		3,928.2

Schedule of Fair Value of Assets and Liabilities Measured on Recurring Basis

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



	30 September 2018								30 September 2017
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Assets at Fair Value
Derivatives
Forward exchange contracts		$68.8		$—		$68.8		$—		$109.9		$—		$109.9		$—
Interest rate management contracts	77.3		—		77.3		—		117.9		—		117.9		—
Total Assets at Fair Value		$146.1		$—		$146.1		$—		$227.8		$—		$227.8		$—
Liabilities at Fair Value
Derivatives
Forward exchange contracts		$80.2		$—		$80.2		$—		$98.0		$—		$98.0		$—
Interest rate management contracts	13.9		—		13.9		—		33.9		—		33.9		—
Total Liabilities at Fair Value		$94.1		$—		$94.1		$—		$131.9		$—		$131.9		$—

Schedule of Nonrecurring Fair Value Measurements

The following is a tabular presentation of nonrecurring fair value measurements along with the level within the fair value hierarchy in which the fair value measurement in its entirety falls:

30 June 2017

2017 Loss

Total

Level 1

Level 2

Level 3

Investment in Equity Affiliate^(A)

$68.5

$—

$68.5

$79.5

^(A)

Leases (Minimum Capital Lease Payments Receivable) (Details) $ in Millions	Sep. 30, 2018 USD ($)
Minimum Capital Lease Payments Expected to be Collected
2019	$ 172.5
2020	167.8
2021	161.9
2022	150.6
2023	144.3
Thereafter	876.6
Total	$ 1,673.7

Share-Based Compensation (Summary of Stock Option Activity) (Details) shares in Thousands	12 Months Ended
	Sep. 30, 2018 $ / shares shares
Shares
Outstanding, beginning (shares) \| shares	3,202
Exercised (shares) \| shares	(1,015)
Forfeited (shares) \| shares	(1)
Outstanding, ending (shares) \| shares	2,186
Exercisable (shares) \| shares	2,186
Weighted Average Exercise Price
Outstanding, beginning (in dollars per share) \| $ / shares	$ 84.85
Exercised (in dollars per share) \| $ / shares	75.15
Forfeited (in dollars per share) \| $ / shares	124.76
Outstanding, ending (in dollars per share) \| $ / shares	89.33
Exercisable (in dollars per share) \| $ / shares	$ 89.33

Supplemental Information (Other Noncurrent Liabilities) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Supplemental Information [Abstract]
Pension benefits	$ 417.2	$ 703.8
Postretirement benefits	47.0	57.0
Other employee benefits	94.4	99.3
Noncurrent customer liability	92.4	62.6
Long-term accrued income taxes related to U.S. tax reform	184.4	0.0
Contingencies related to uncertain tax positions	113.2	130.6
Advance payments	58.2	39.0
Environmental liabilities	64.6	72.3
Derivative instruments	39.9	36.0
Asset retirement obligations	189.5	144.0
Obligation for future contribution to an equity affiliate	94.4	94.4
Obligations associated with EfW	63.3	65.3
Other	78.4	107.6
Other noncurrent liabilities	$ 1,536.9	$ 1,611.9

Fair Value Measurements (Schedule of Recurring Fair Value Measurements) (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Assets at Fair Value	$ 146.1	$ 227.8
Total Liabilities at Fair Value	94.1	131.9
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Assets at Fair Value	0.0	0.0
Total Liabilities at Fair Value	0.0	0.0
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Assets at Fair Value	146.1	227.8
Total Liabilities at Fair Value	94.1	131.9
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Assets at Fair Value	0.0	0.0
Total Liabilities at Fair Value	0.0	0.0
Forward Exchange Contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	68.8	109.9
Derivative liabilities	80.2	98.0
Forward Exchange Contracts \| Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	0.0	0.0
Derivative liabilities	0.0	0.0
Forward Exchange Contracts \| Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	68.8	109.9
Derivative liabilities	80.2	98.0
Forward Exchange Contracts \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	0.0	0.0
Derivative liabilities	0.0	0.0
Interest Rate Management Contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	77.3	117.9
Derivative liabilities	13.9	33.9
Interest Rate Management Contracts \| Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	0.0	0.0
Derivative liabilities	0.0	0.0
Interest Rate Management Contracts \| Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	77.3	117.9
Derivative liabilities	13.9	33.9
Interest Rate Management Contracts \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	0.0	0.0
Derivative liabilities	$ 0.0	$ 0.0

Materials Technologies Separation	12 Months Ended
Materials Technologies Separation	Sep. 30, 2018
Restructuring and Related Activities [Abstract]
Materials Technologies Separation	MATERIALS TECHNOLOGIES SEPARATION In fiscal year 2017, we completed the separation of the divisions comprising the former Materials Technologies segment through the spin-off of EMD as Versum and the sale of PMD to Evonik. For additional information on the dispositions, refer to Note 3, Discontinued Operations. Business Separation Costs In connection with the dispositions of EMD and PMD, we incurred net separation costs of $30.2 in fiscal year 2017. The net costs include legal and advisory fees of $32.5, which are reflected on the consolidated income statements as “Business separation costs,” and a pension settlement benefit of $2.3 presented within "Other non-operating income (expense), net." Our fiscal year 2017 income tax provision includes net tax benefits of $5.5, primarily related to changes in tax positions on business separation activities. In fiscal year 2016, we incurred business separation costs of $50.6 for legal and advisory fees. Our fiscal year 2016 income tax provision includes additional tax expense related to the separation of $51.8, of which $45.7 resulted from a dividend that was declared in June 2016 to repatriate $443.8 from a subsidiary in South Korea to the U.S. in anticipation of the separation of EMD from the industrial gases business in South Korea. Transition Services Agreements We entered into transition services agreements by which we provided certain transition services to Versum for EMD and to Evonik for PMD subsequent to their respective separation dates. The reimbursement for costs in support of the agreements has been reflected on the consolidated income statements within “Other income (expense), net.” All transition services were completed during fiscal year 2018. Loss on Extinguishment of Debt On 30 September 2016, in anticipation of the spin-off, Versum entered into certain financing transactions to allow for a cash distribution of $550.0 and a distribution in-kind of senior unsecured notes (the "Notes") issued by Versum with an aggregate principal amount of $425.0 to Air Products. Air Products then exchanged these Notes with certain financial institutions for $418.3 of Air Products’ outstanding commercial paper. This noncash exchange, which was excluded from the consolidated statements of cash flows, resulted in a loss of $6.9 that has been reflected on the consolidated income statements as “Loss on extinguishment of debt.” This loss was deductible for tax purposes.

Financial Instruments (Narrative) (Details) € in Millions	12 Months Ended
Financial Instruments (Narrative) (Details) € in Millions	Sep. 30, 2018 USD ($)	Sep. 30, 2018 EUR (€)	Sep. 30, 2017 USD ($)	Sep. 30, 2017 EUR (€)
Derivative [Line Items]
Net liability position of derivatives with credit risk-related contingent features	$ 33,400,000		$ 34,600,000
Collateral posted on liability positions with credit risk-related features	0
Collateral amount that counterparties would be required to post	$ 97,600,000		138,500,000
Forward Exchange Contracts \| Cash Flow Hedges
Derivative [Line Items]
Maximum remaining maturity of foreign currency derivatives	1 year 10 months 24 days	1 year 10 months 24 days
Foreign Currency Debt \| Euro Denominated
Derivative [Line Items]
Notional amount included in designated foreign currency denominated debt	$ 1,054,600,000	€ 908.8	$ 1,077,700,000	€ 912.2

Intangible Assets (Projected Annual Amortization Expense for Intangible Assets) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
2019	$ 32.7
2020	32.4
2021	30.5
2022	27.8
2023	27.3
Thereafter	236.6
Total future amortization expense	$ 387.3	$ 321.4

Leases

12 Months Ended

Sep. 30, 2018

Leases [Abstract]

Leases

LEASES

Lessee Accounting

Capital leases, primarily for the right to use machinery and equipment, are included with owned plant and equipment within "Plant and Equipment, net" on the consolidated balance sheets in the amount of $21.6 and $22.3 at 30 September 2018 and 2017, respectively. Related amounts of accumulated depreciation are $6.1 and $5.3, 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 $82.7, $65.8, and $67.6 in fiscal years 2018, 2017, and 2016, respectively.

At 30 September 2018, minimum payments due under leases associated with continuing operations are as follows:



	Capital Leases		Operating Leases
2019		$1.7		$65.9
2020	1.4		50.4
2021	2.9		41.4
2022	1.3		30.4
2023	1.2		23.3
Thereafter	14.3		123.0
Total		$22.8		$334.4

The present value of the above future capital lease payments totaled $10.5. Refer to Note 15, Debt.

Included in the operating lease payments disclosed above are future minimum payments due under leases related to the Energy-from-Waste discontinued operations (i.e., Tees Valley, United Kingdom) of approximately $2 in each of the next five years and $40 thereafter, for a total lease commitment of approximately $50. As discussed in Note 3, Discontinued Operations, during the first quarter of 2017, we recorded an accrual for these lease obligations to other noncurrent liabilities in continuing operations.

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.

Operating Leases

Assets subject to operating lease treatment in which we are the lessor are recorded within "Plant and equipment, net" on the consolidated balance sheets. As of 30 September 2018, plant and equipment, at cost, was $2.4 billion, and accumulated depreciation was $.4 billion. Assets subject to operating leases include those of the Lu’An joint venture, which is discussed in Note 6, Acquisitions.

At 30 September 2018, minimum lease payments expected to be collected are as follows:



2019		$261.5
2020	259.1
2021	255.8
2022	251.5
2023	244.9
Thereafter	2,904.8
Total		$4,177.6

Capital Leases

Lease receivables, net, are primarily included within "Noncurrent capital lease receivables" on our consolidated balance sheets, with the remaining balance in "Other receivables and current assets."

The components of lease receivables were as follows:



30 September	2018			2017
Gross minimum lease payments receivable		$1,673.7			$1,897.0
Unearned interest income	(568.3		)	(671.9		)
Lease Receivables, net		$1,105.4			$1,225.1

Lease payments collected in fiscal years 2018, 2017, and 2016 were $182.7, $183.6, and $186.0, respectively. These payments reduced the lease receivable balance by $97.4, $92.2, and $85.5 in fiscal years 2018, 2017, and 2016, respectively.

At 30 September 2018, minimum lease payments expected to be collected are as follows:



2019		$172.5
2020	167.8
2021	161.9
2022	150.6
2023	144.3
Thereafter	876.6
Total		$1,673.7

Income Taxes (Summary of Operating and Capital Loss Carryforwards) (Details) $ in Millions	Sep. 30, 2018 USD ($)
State
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 324.9
Foreign
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	340.6
Capital loss carryforwards	$ 281.9

Financial Instruments (Fair Value of Derivative Instruments) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Derivative [Line Items]
Total Derivatives, Assets	$ 146.1	$ 227.8
Total Derivatives, Liabilities	94.1	131.9
Designated as Hedging Instrument
Derivative [Line Items]
Total Derivatives, Assets	117.7	222.5
Total Derivatives, Liabilities	55.5	128.7
Not Designated as Hedging Instrument
Derivative [Line Items]
Total Derivatives, Assets	28.4	5.3
Total Derivatives, Liabilities	38.6	3.2
Forward Exchange Contracts \| Designated as Hedging Instrument \| Other Receivables
Derivative [Line Items]
Total Derivatives, Assets	24.9	81.7
Forward Exchange Contracts \| Designated as Hedging Instrument \| Other Noncurrent Assets
Derivative [Line Items]
Total Derivatives, Assets	19.8	27.1
Forward Exchange Contracts \| Designated as Hedging Instrument \| Accrued Liabilities
Derivative [Line Items]
Total Derivatives, Liabilities	37.0	82.0
Forward Exchange Contracts \| Designated as Hedging Instrument \| Other Noncurrent Liabilities
Derivative [Line Items]
Total Derivatives, Liabilities	4.6	13.8
Forward Exchange Contracts \| Not Designated as Hedging Instrument \| Other Receivables
Derivative [Line Items]
Total Derivatives, Assets	7.9	1.1
Forward Exchange Contracts \| Not Designated as Hedging Instrument \| Other Noncurrent Assets
Derivative [Line Items]
Total Derivatives, Assets	16.2	0.0
Forward Exchange Contracts \| Not Designated as Hedging Instrument \| Accrued Liabilities
Derivative [Line Items]
Total Derivatives, Liabilities	14.9	2.2
Forward Exchange Contracts \| Not Designated as Hedging Instrument \| Other Noncurrent Liabilities
Derivative [Line Items]
Total Derivatives, Liabilities	23.7	0.0
Interest Rate Management Contracts \| Designated as Hedging Instrument \| Other Receivables
Derivative [Line Items]
Total Derivatives, Assets	24.3	11.1
Interest Rate Management Contracts \| Designated as Hedging Instrument \| Other Noncurrent Assets
Derivative [Line Items]
Total Derivatives, Assets	48.7	102.6
Interest Rate Management Contracts \| Designated as Hedging Instrument \| Accrued Liabilities
Derivative [Line Items]
Total Derivatives, Liabilities	2.3	10.7
Interest Rate Management Contracts \| Designated as Hedging Instrument \| Other Noncurrent Liabilities
Derivative [Line Items]
Total Derivatives, Liabilities	11.6	22.2
Interest Rate Management Contracts \| Not Designated as Hedging Instrument \| Other Receivables
Derivative [Line Items]
Total Derivatives, Assets	4.0	0.0
Interest Rate Management Contracts \| Not Designated as Hedging Instrument \| Other Noncurrent Assets
Derivative [Line Items]
Total Derivatives, Assets	0.3	4.2
Interest Rate Management Contracts \| Not Designated as Hedging Instrument \| Accrued Liabilities
Derivative [Line Items]
Total Derivatives, Liabilities	0.0	1.0
Interest Rate Management Contracts \| Not Designated as Hedging Instrument \| Other Noncurrent Liabilities
Derivative [Line Items]
Total Derivatives, Liabilities	$ 0.0	$ 0.0

Cost Reduction and Asset Actions

12 Months Ended

Sep. 30, 2018

Restructuring and Related Activities [Abstract]

Cost Reduction and Asset Actions

COST REDUCTION AND ASSET ACTIONS

In fiscal year 2017, we recognized a net expense of $151.4. The year-to-date net expense included a charge of $154.8 for actions taken during fiscal year 2017, partially offset by the favorable settlement of the remaining $3.4 accrued balance associated with business restructuring actions taken in 2015. The charge included asset actions of $88.5 and severance actions of $66.3. The asset actions included charges resulting from the write-down of an air separation unit in the Industrial Gases – EMEA segment that was constructed mainly to provide oxygen to one of the Energy-from-Waste plants, the planned sale of a non-industrial gas hardgoods business in the Industrial Gases – Americas segment, and the closure of a facility in the Corporate and other segment that manufactured LNG heat exchangers. The severance actions related to the elimination or planned elimination of approximately 625 positions, primarily in the Corporate and other segment and in the Industrial Gases – EMEA segment. The actions in the Corporate and other segment were driven by the reorganization of our engineering, manufacturing, and technology functions.

The 2017 charge related to the segments as follows: $39.3 in Industrial Gases – Americas, $77.9 in Industrial Gases – EMEA, $.9 in Industrial Gases – Asia, $2.5 in Industrial Gases – Global, and $34.2 in Corporate and other.

In fiscal year 2016, we recognized an expense of $34.5 for severance and other benefits related to cost reduction actions which resulted in the elimination of approximately 610 positions. The expenses related primarily to the Industrial Gases – Americas segment and the Industrial Gases – EMEA segment.

The charges we record for cost reduction and asset actions have been excluded from segment operating income.

The following table summarizes the carrying amount of the accrual for cost reduction actions at 30 September 2018:



	Severance and Other Benefits			Asset Actions/Other			Total
2016 Charge		$34.5			$—			$34.5
Cash expenditures	(21.6		)	—			(21.6		)
Amount reflected in pension liability	(.9		)	—			(.9		)
Currency translation adjustment	.3			—			.3
30 September 2016		$12.3			$—			$12.3
2017 Charge	66.3			88.5			154.8
Noncash expenses	—			(84.2		)	(84.2		)
Cash expenditures	(35.7		)	(1.2		)	(36.9		)
Amount reflected in pension liability	(2.0		)	—			(2.0		)
Amount reflected in other noncurrent liabilities	—			(2.2		)	(2.2		)
Currency translation adjustment	(.3		)	—			(.3		)
30 September 2017		$40.6			$.9			$41.5
Cash expenditures	(30.3		)	(.9		)	(31.2		)
Amount reflected in pension liability	(.4		)	—			(.4		)
30 September 2018		$9.9			$—			$9.9

Goodwill (Schedule of Accumulated Impairment Losses) (Details) - USD ($)
$ in Millions

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2016

Goodwill [Line Items]

Goodwill, gross

$ 1,194.7

$ 1,138.7

$ 1,103.7

Goodwill, net

788.9

721.5

845.1

Industrial Gases - Americas

Goodwill [Line Items]

Accumulated impairment losses

^[1]

(405.8)

(417.2)

(258.6)

Goodwill, net

$ 162.1

$ 163.7

$ 309.1

[1]	Accumulated impairment losses include the impacts of currency translation. These losses are attributable to our Latin America reporting unit (LASA) within the Industrial Gases – Americas segment.

Retirement Benefits (Components Recognized in Accumulated Other Comprehensive Income on Pretax Basis) (Details) - Defined Benefit Pension Plan - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
U.S.
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss	$ 680.4	$ 980.5
Prior service cost (credit)	6.6	8.1
Net transition liability	0.0	0.0
Total	687.0	988.6
International
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss	443.6	551.9
Prior service cost (credit)	(1.1)	(1.8)
Net transition liability	0.4	0.4
Total	$ 442.9	$ 550.5

Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Sep. 30, 2018

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The table below summarizes changes in AOCL, net of tax, attributable to Air Products:



	Derivatives qualifying as hedges			Foreign currency translation adjustments			Pension and postretirement benefits			Total
Balance at 30 September 2015		($42.9	)		($956.5	)		($1,126.5	)		($2,125.9	)
Other comprehensive income (loss) before reclassifications	13.7			9.9			(335.1		)	(311.5		)
Amounts reclassified from AOCL	(36.0		)	2.7			87.2			53.9
Net current period other comprehensive income (loss)		($22.3	)		$12.6			($247.9	)		($257.6	)
Amount attributable to noncontrolling interest	(.2		)	5.4			(.4		)	4.8
Balance at 30 September 2016		($65.0	)		($949.3	)		($1,374.0	)		($2,388.3	)
Other comprehensive income (loss) before reclassifications	(12.6		)	101.9			251.6			340.9
Amounts reclassified from AOCL	24.2			57.3			110.7			192.2
Net current period other comprehensive income		$11.6			$159.2			$362.3			$533.1
Spin-off of Versum	.2			6.0			5.3			11.5
Amount attributable to noncontrolling interest	(.1		)	3.0			.8			3.7
Balance at 30 September 2017		($53.1	)		($787.1	)		($1,007.2	)		($1,847.4	)
Other comprehensive income (loss) before reclassifications	45.9			(244.6		)	179.4			(19.3		)
Amounts reclassified from AOCL	(30.4		)	3.1			133.1			105.8
Net current period other comprehensive income (loss)		$15.5			($241.5	)		$312.5			$86.5
Amount attributable to noncontrolling interest	—			(18.8		)	(.2		)	(19.0		)
Balance at 30 September 2018		($37.6	)		($1,009.8	)		($694.5	)		($1,741.9	)

Schedule of Reclassifications out of Accumulated Other Comprehensive Loss

The table below summarizes the reclassifications out of accumulated other comprehensive loss and the affected line item on the consolidated income statements:



	2018			2017		2016
(Gain) Loss on Cash Flow Hedges, net of tax
Sales/Cost of sales		$7.1			$18.3		$.2
Other income (expense), net	(42.6		)	5.1		(46.2		)
Interest expense	5.1			.8		10.0
Total (Gain) Loss on Cash Flow Hedges, net of tax		($30.4	)		$24.2		($36.0	)

Currency Translation Adjustment
Cost of sales^(A)		$3.1			$—		$—
Cost reduction and assets actions^(B)	—			8.2		—
Loss from discontinued operations, net of tax^(C)	—			49.1		2.7
Total Currency Translation Adjustment		$3.1			$57.3		$2.7

Pension and Postretirement Benefits, net of tax^(D)		$133.1			$110.7		$87.2


^(A)	The fiscal year 2018 impact relates to an equipment sale resulting from the termination of a contract in the Industrial Gases – Asia segment during the first quarter.


^(B)	The fiscal year 2017 impact relates to the planned sale of a non-industrial gas hardgoods business in the Industrial Gases – Americas segment recorded in the third quarter.


^(C)	The fiscal year 2017 impact relates to the sale of PMD during the second quarter. The fiscal year 2016 impact primarily relates to the sale of an equity affiliate in the first quarter.

^(D)

The components of net periodic benefit cost reclassified out of AOCL include items such as prior service cost amortization, actuarial loss amortization, and settlements and are included in “Other non-operating income (expense), net” on the consolidated income statements. Refer to Note 16, Retirement Benefits, for additional information.

Cost Reduction and Asset Actions (Tables)

12 Months Ended

Sep. 30, 2018

Restructuring and Related Activities [Abstract]

Summary of Carrying Amount of Accrual for Cost Reduction and Asset Actions

The following table summarizes the carrying amount of the accrual for cost reduction actions at 30 September 2018:



	Severance and Other Benefits			Asset Actions/Other			Total
2016 Charge		$34.5			$—			$34.5
Cash expenditures	(21.6		)	—			(21.6		)
Amount reflected in pension liability	(.9		)	—			(.9		)
Currency translation adjustment	.3			—			.3
30 September 2016		$12.3			$—			$12.3
2017 Charge	66.3			88.5			154.8
Noncash expenses	—			(84.2		)	(84.2		)
Cash expenditures	(35.7		)	(1.2		)	(36.9		)
Amount reflected in pension liability	(2.0		)	—			(2.0		)
Amount reflected in other noncurrent liabilities	—			(2.2		)	(2.2		)
Currency translation adjustment	(.3		)	—			(.3		)
30 September 2017		$40.6			$.9			$41.5
Cash expenditures	(30.3		)	(.9		)	(31.2		)
Amount reflected in pension liability	(.4		)	—			(.4		)
30 September 2018		$9.9			$—			$9.9

Supplemental Information (Other Receivables and Current Assets) (Details) - USD ($) $ in Millions	Oct. 01, 2018	Sep. 30, 2018	Sep. 30, 2017
Supplemental Information [Abstract]
Derivative instruments		$ 61.1	$ 93.9
Other receivables		139.0	188.0
Current capital lease receivables		92.1	93.3
Other		3.6	28.1
Other receivables and current assets	$ 399.5	$ 295.8	$ 403.3

Retirement Benefits (Schedule of Net Periodic Benefit Cost) (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2016

Defined Benefit Pension Plan

$ 43.7

$ 48.5

^[1]

$ 10.5

^[1]

$ 5.1

^[1]

Defined Benefit Pension Plan | U.S.

$ 43.7

10.5

5.1

Service cost

25.5

29.0

36.5

Interest cost

107.2

107.5

110.7

Net actuarial loss amortization

(201.6)

(207.7)

(202.0)

87.4

88.7

85.3

Prior service cost (credit)

1.6

2.3

2.8

Special termination benefits

45.0

10.5

5.1

Curtailments

0.0

4.3

0.0

0.4

2.8

2.0

0.0

(0.3)

Defined Benefit Pension Plan | U.S. | Discontinued Operations

65.5

37.4

40.1

Defined Benefit Pension Plan | U.S. | Continuing Operations

0.0

(0.7)

(7.9)

Defined Benefit Pension Plan | International

65.5

36.7

32.2

Service cost

25.5

25.9

24.3

Interest cost

37.3

32.2

44.3

Net actuarial loss amortization

(81.7)

(75.2)

(78.3)

40.2

54.7

35.6

Prior service cost (credit)

0.0

(0.1)

(0.2)

Special termination benefits

3.5

1.7

1.3

Curtailments

0.0

(1.3)

(1.1)

0.0

0.4

0.0

1.5

1.1

2.1

Defined Benefit Pension Plan | International | Discontinued Operations

26.3

39.4

28.0

Defined Benefit Pension Plan | International | Continuing Operations

0.0

(4.1)

(4.4)

Business Segment and Geographic Information

$ 26.3

$ 35.3

$ 23.6

[1]	Fiscal year 2018 includes a loss of $43.7 that primarily resulted from the transfer of certain pension payment obligations to an insurer through the purchase of an irrevocable, nonparticipating group annuity contract during the fourth quarter.

Business Segment and Geographic Information

12 Months Ended

Sep. 30, 2018

Segment Reporting [Abstract]

BUSINESS SEGMENT AND GEOGRAPHIC INFORMATION

Our reporting segments reflect the manner in which our chief operating decision maker reviews results and allocates resources. Except in the Industrial Gases – EMEA and Corporate and other segments, each reporting segment meets the definition of an operating segment and does not include the aggregation of multiple operating segments. Our Industrial Gases – EMEA and Corporate and other segment each include the aggregation of two operating segments that meet the aggregation criteria under GAAP.

Our reporting segments are:


•	Industrial Gases – Americas


•	Industrial Gases – EMEA (Europe, Middle East, and Africa)


•	Industrial Gases – Asia


•	Industrial Gases – Global


•	Corporate and other

Industrial Gases – Regional

The regional Industrial Gases segments (Americas, EMEA, and Asia) include the results of our regional industrial gas businesses, which produce and sell atmospheric gases such as oxygen, nitrogen, argon, and rare gases (primarily recovered by the cryogenic distillation of air), process gases such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas (a mixture of hydrogen and carbon monoxide), and specialty gases, and equipment for the production or processing of gases, such as air separation units and non-cryogenic generators.

We supply gases to customers in many industries, including those in refining, chemical, gasification, metals, electronics, manufacturing, and food and beverage. We distribute gases to our customers through a variety of supply modes including liquid or gaseous bulk supply delivered by tanker or tube trailer and, for smaller customers, packaged gases delivered in cylinders and dewars or small on-sites (cryogenic or non-cryogenic generators). For large-volume customers, we construct an on-site plant adjacent to or near the customer’s facility or deliver product from one of our pipelines. We are the world’s largest provider of hydrogen, which is used by refiners to facilitate the conversion of heavy crude feedstock and lower the sulfur content of gasoline and diesel fuels.

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. We mitigate energy and natural gas price fluctuations contractually through pricing formulas, surcharges, cost pass-through, and tolling arrangements. The regional Industrial Gases segments also include our share of the results of several joint ventures accounted for by the equity method. The largest of these joint ventures operate in Mexico, Italy, South Africa, India, Saudi Arabia, and Thailand.

Each of the regional Industrial Gases segments competes against global industrial gas companies as well as regional competitors. Competition is based primarily on price, reliability of supply, and the development of industrial gas applications. We derive a competitive advantage in locations where we have pipeline networks, which enable us to provide reliable and economic supply of products to larger customers.

Industrial Gases – Global

The Industrial Gases – Global segment includes cryogenic and gas processing equipment for air separation. The 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. The Industrial Gases – Global segment also includes centralized global costs associated with management of all the Industrial Gases segments. These costs include Industrial Gases global administrative costs, product development costs, and research and development costs. We compete with a large number of firms for all the offerings included in the Industrial Gases – Global segment. Competition in the equipment businesses is based primarily on technological performance, service, technical know-how, price, and performance guarantees.

Corporate and other

The Corporate and other segment includes our LNG equipment and helium storage and distribution sale of equipment businesses and corporate support functions that benefit all segments. Competition for the sale of equipment businesses is based primarily on technological performance, service, technical know-how, price, and performance guarantees.

Corporate and other also includes income and expense that is not directly associated with the other segments, including foreign exchange gains and losses and stranded costs. Stranded costs result from functional support previously provided to the two divisions comprising the former Materials Technologies segment. The majority of these costs are reimbursed to Air Products pursuant to short-term transition services agreements under which Air Products provides transition services to Versum for EMD and to Evonik for PMD. The reimbursement for costs in support of the transition services has been reflected on the consolidated income statements within “Other income (expense), net.” All transition services were completed during fiscal year 2018. Refer to Note 4, Materials Technologies Separation, for additional information.

In addition to assets of the global businesses included in this segment, other assets include cash, deferred tax assets, and financial instruments.

Customers

We do not have a homogeneous customer base or end market, and no single customer accounts for more than 10% of our consolidated revenues.

Accounting Policies

The accounting policies of the segments are the same as those described in Note 1, Major Accounting Policies. We evaluate the performance of segments based upon reported segment operating income.

Business Segment



	Industrial Gases– Americas		Industrial Gases– EMEA		Industrial Gases– Asia		Industrial Gases– Global			Corporate and other			Segment Total
2018
Sales		$3,758.8		$2,193.3		$2,458.0		$436.1			$84.0			$8,930.2
Operating income (loss)	927.9		445.8		689.9		53.9			(176.0		)	1,941.5
Depreciation and amortization	485.3		198.6		265.8		8.1			12.9			970.7
Equity affiliates' income	82.0		61.1		58.3		1.9			—			203.3
Expenditures for long-lived assets	546.5		163.1		791.9		17.3			49.6			1,568.4
Investments in net assets of and advances to equity affiliates	312.1		503.3		445.6		16.2			—			1,277.2
Total assets	5,904.0		3,280.4		5,899.5		240.1			3,854.3			19,178.3
2017
Sales		$3,637.0		$1,780.4		$1,964.7		$722.9			$82.6			$8,187.6
Operating income (loss)	946.1		395.5		532.6		71.1			(171.5		)	1,773.8
Depreciation and amortization	464.4		177.1		203.2		8.9			12.2			865.8
Equity affiliates' income	58.1		47.1		53.5		.9			—			159.6
Expenditures for long-lived assets	427.2		143.2		337.8		25.6			105.9			1,039.7
Investments in net assets of and advances to equity affiliates	287.5		508.6		471.8		19.0			—			1,286.9
Total assets	5,840.8		3,276.1		4,412.1		279.6			4,648.4			18,457.0
2016
Sales		$3,344.1		$1,704.4		$1,720.4		$498.8			$236.0			$7,503.7
Operating income (loss)	891.3		387.0		452.8		(21.5		)	(89.4		)	1,620.2
Depreciation and amortization	443.6		185.7		197.9		7.9			19.5			854.6
Equity affiliates' income	52.7		36.5		57.8		—			—			147.0
Expenditures for long-lived assets	406.6		159.5		313.3		6.0			22.3			907.7
Investments in net assets of and advances to equity affiliates	250.6		580.5		442.5		10.0			—			1,283.6
Total assets	5,896.7		3,178.6		4,232.7		367.6			2,384.5			16,060.1

Below is a reconciliation of segment total operating income to consolidated operating income:



Operating Income	2018		2017			2016
Segment total		$1,941.5		$1,773.8			$1,620.2
Change in inventory valuation method	24.1		—			—
Business separation costs	—		(32.5		)	(50.6		)
Cost reduction and asset actions	—		(151.4		)	(34.5		)
Goodwill and intangible asset impairment charge	—		(162.1		)	—
Gain on land sale	—		12.2			—
Consolidated Total		$1,965.6		$1,440.0			$1,535.1

Below is a reconciliation of segment total equity affiliates' income to consolidated equity affiliates' income:



Equity Affiliates' Income	2018			2017			2016
Segment total		$203.3			$159.6			$147.0
Equity method investment impairment charge	—			(79.5		)	—
Tax reform repatriation - equity method investment	(28.5		)	—			—
Consolidated Total		$174.8			$80.1			$147.0

Below is a reconciliation of segment total assets to consolidated total assets:



Total Assets	2018		2017		2016
Segment total		$19,178.3		$18,457.0		$16,060.1
Discontinued operations	—		10.2		1,968.5
Consolidated Total		$19,178.3		$18,467.2		$18,028.6

The sales information noted above relates to external customers only. All intersegment sales are eliminated in consolidation. The Industrial Gases – Global segment had intersegment sales of $254.3, $239.0, and $232.4 in fiscal years 2018, 2017, and 2016, respectively. These sales are generally transacted at market pricing.

We generally do not have intersegment sales from our regional industrial gases businesses. Equipment manufactured for our regional industrial gases segments are generally transferred at cost and are not reflected as an intersegment sale.

Geographic Information



Sales to External Customers	2018		2017		2016
United States		$3,149.6		$2,886.8		$2,911.7
Europe, including Middle East	2,292.5		2,478.5		2,186.5
Asia, excluding China and India	904.0		849.6		721.4
China	1,585.7		1,143.4		1,020.4
Other^(A)	998.4		829.3		663.7
Total		$8,930.2		$8,187.6		$7,503.7
Long-Lived Assets^(B)	2018		2017		2016
United States		$3,512.7		$3,407.4		$3,411.4
Europe, including Middle East	1,283.3		1,279.0		1,292.5
Asia, excluding China and India	899.8		778.5		707.0
China	3,066.6		1,737.9		1,675.8
Other^(A)	1,161.3		1,237.4		1,173.0
Total		$9,923.7		$8,440.2		$8,259.7


^(A)	Includes Canada, Latin America, and India.


^(B)	Long-lived assets include plant and equipment, net.

Geographic information is based on country of origin. Included in United States revenues are export sales to third‑party customers of $33.1 in fiscal year 2018, $64.2 in fiscal year 2017, and $134.9 in fiscal year 2016.

Retirement Benefits (Assumptions in Calculating Projected Benefit Obligation) (Details) - Defined Benefit Pension Plan	Sep. 30, 2018	Sep. 30, 2017
U.S.
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.30%	3.80%
Rate of compensation increase	3.50%	3.50%
International
Defined Benefit Plan Disclosure [Line Items]
Discount rate	2.50%	2.40%
Rate of compensation increase	3.50%	3.60%

Leases (Minimum Payments Due) (Details) $ in Millions	Sep. 30, 2018 USD ($)
Capital Leases
2019	$ 1.7
2020	1.4
2021	2.9
2022	1.3
2023	1.2
Thereafter	14.3
Total	22.8
Operating Leases
2019	65.9
2020	50.4
2021	41.4
2022	30.4
2023	23.3
Thereafter	123.0
Total	$ 334.4

Supplemental Information (Related Party Sales) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Supplemental Information [Abstract]
Sales to related parties	$ 340	$ 580	$ 320

Income Taxes (Deferred Tax Assets and Liabilities Included in Consolidated Financials) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Deferred Tax Assets
Other noncurrent assets	$ 121.4	$ 174.5
Deferred Tax Liabilities
Deferred income taxes	775.1	778.4
Net Deferred Income Tax Liability	$ 653.7	$ 603.9

Supplemental Information (Payables and Accrued Liabilities) (Details) $ in Millions, ¥ in Billions	Oct. 01, 2018 USD ($)	Sep. 30, 2018 USD ($)	Sep. 30, 2018 CNY (¥)	Apr. 26, 2018 CNY (¥)	Sep. 30, 2017 USD ($)
Supplemental Information [Abstract]
Trade creditors		$ 594.6			$ 659.5
Payables associated with Lu'An		330.0	¥ 2.2	¥ 2.3	0.0
Customer advances		156.6			438.9
Accrued payroll and employee benefits		201.4			187.1
Pension and postretirement benefits		34.1			22.6
Dividends payable		241.5			207.5
Outstanding payments in excess of certain cash balances		9.1			4.5
Accrued interest expense		49.5			42.2
Derivative instruments		54.2			95.9
Severance and other costs associated with cost reduction actions		9.9			41.5
Other		136.9			114.6
Payables and accrued liabilities	$ 1,844.0	$ 1,817.8			$ 1,814.3

Retirement Benefits (Narrative) (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2016

Shares of common stock in ESOP

$ 43.7

$ 48.5

^[1]

$ 10.5

^[1]

$ 5.1

^[1]

2,378,336

Defined contribution plan cost recognized

$ 34.2

33.7

34.6

Pension and postretirement benefits

$ 34.1

22.6

U.S.

7.50%

U.S. | Equity securities

8.00%

U.S. | Debt securities

5.40%

U.S. | Real estate/other

6.90%

International

5.80%

U.K.

Percentage of plan assets as component of total international plan assets

6.20%

80.00%

U.K. | Equity securities

7.40%

U.K. | Debt securities

Defined Benefit Pension Plan

2.70%

ABO for all defined benefit pension plans

43.7

10.5

5.1

4,376.4

$ 4,376.4

4,842.8

Company contributions

68.3

Defined Benefit Pension Plan | Minimum

Anticipated contributions for next fiscal year

45.0

Defined Benefit Pension Plan | Maximum

Anticipated contributions for next fiscal year

65.0

Defined Benefit Pension Plan | Unfunded Plan

ABO for plans with obligation in excess plan assets

92.8

PBO for plans with obligation in excess of plan assets

100.9

Defined Benefit Pension Plan | U.S.

Amortization period based on approximate average remaining service period

$ 45.0

10.5

$ 5.1

8 years

ABO for plans with obligation in excess plan assets

2,608.6

$ 2,608.6

2,951.0

PBO for plans with obligation in excess of plan assets

2,733.6

$ 2,733.6

$ 3,116.7

Accumulated benefit obligations

7.50%

8.00%

Company contributions

$ 14.6

$ 27.2

2,922.8

3,357.7

$ 3,477.7

Pension and postretirement benefits

23.5

12.6

Gains arising during the period

(167.7)

(189.8)

Amortization of net actuarial loss

(132.4)

(103.3)

Net actuarial loss on pretax basis

680.4

980.5

Defined Benefit Pension Plan | International

ABO for plans with obligation in excess plan assets

3.5

1.7

$ 1.3

357.9

365.6

PBO for plans with obligation in excess of plan assets

452.6

$ 452.6

$ 465.7

Accumulated benefit obligations

5.80%

6.10%

6.30%

Company contributions

$ 53.7

$ 42.2

1,660.5

1,749.5

$ 1,849.6

Pension and postretirement benefits

1.2

0.0

Gains arising during the period

(64.6)

(162.0)

Amortization of net actuarial loss

(43.7)

(55.7)

Net actuarial loss on pretax basis

443.6

$ 443.6

551.9

Defined Benefit Pension Plan | U.K.

Amortization period based on approximate average remaining life expectancy

26 years

Other Postretirement Benefits

We provide 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 contributions adjusted periodically. The retiree medical costs are capped at a specified dollar amount, with the retiree contributing the remainder. The cost of these benefits were not material in fiscal years 2018, 2017, and 2016. Accumulated postretirement benefit obligations as of the end of fiscal years 2018 and 2017 were $56.4 and $67.0, respectively, of which $9.4 and $10.0 were current obligations, respectively.

The changes in other postretirement benefit plan obligations that have been recognized in other comprehensive income on a pretax basis during fiscal years 2018 and 2017 were gains of $3.1 and $10.7 that arose during the periods, respectively, and $.3 and $.2 of net actuarial loss amortization, respectively. The net actuarial loss recognized in accumulated other comprehensive loss on a pretax basis was $4.4 at 30 September 2018 and $7.8 at 30 September 2017.

Expected per capita claims costs are currently assumed to be greater than the annual cap; therefore, the assumed healthcare cost trend rate, ultimate trend rate, and the year the ultimate trend rate is reached have no impact on plan obligations.

Summary by Quarter (Unaudited)

12 Months Ended

Sep. 30, 2018

Quarterly Financial Information Disclosure [Abstract]

Summary by Quarter (Unaudited)

SUMMARY BY QUARTER (UNAUDITED)

These tables summarize the unaudited results of operations for each quarter of fiscal years 2018 and 2017:



2018	Q1				Q2			Q3			Q4			Total
Sales		$2,216.6				$2,155.7			$2,259.0			$2,298.9			$8,930.2
Gross profit	644.8				649.2			713.6			733.1			2,740.7
Operating income	460.7				455.4			515.8			533.7			1,965.6
Equity affiliates income	13.8			^(A)	43.7			58.1			59.2		^(A)	174.8		^(A)
Income tax provision	291.8			^(A)	56.2		^(B)	107.1			69.2		^(A)(B)	524.3		^(A)(B)
Net income	161.7				423.6			487.9			459.7			1,532.9
Net income attributable to Air Products
Income from continuing operations	155.6				416.4			430.7			452.9			1,455.6
Income (Loss) from discontinued operations	(1.0		)		—			43.2		^(C)	—			42.2		^(C)
Net income attributable to Air Products	154.6				416.4			473.9			452.9			1,497.8
Basic Earnings Per Common Share Attributable to Air Products
Income from continuing operations	.71				1.90			1.96			2.06			6.64
Income from discontinued operations	—				—			.20			—			.19
Net income attributable to Air Products	.71				1.90			2.16			2.06			6.83
Diluted Earnings Per Common Share Attributable to Air Products
Income from continuing operations	.70				1.89			1.95			2.05			6.59
Income from discontinued operations	—				—			.20			—			.19
Net income attributable to Air Products	.70				1.89			2.15			2.05			6.78
Weighted Average Common Shares — Diluted (in millions)	220.4				220.8			220.9			220.9			220.8
Dividends declared per common share	.95				1.10			1.10			1.10			4.25
Market price per common share – High	164.78				175.17			170.29			171.66
Market price per common share – Low	150.55				152.71			154.67			153.02



2017	Q1		Q2			Q3				Q4				Total
Sales		$1,882.5		$1,980.1			$2,121.9				$2,203.1				$8,187.6
Gross profit	565.8		576.3			635.9				658.1				2,436.1
Business separation costs^(D)	32.5		—			—				—				32.5
Cost reduction and assets actions^(E)	50.0		10.3			42.7				48.4				151.4
Goodwill and intangible asset impairment charge^(F)	—		—			162.1				—				162.1
Gain on land sale	—		—			—				12.2				12.2
Operating income	328.3		395.6			258.7				457.4				1,440.0
Equity affiliates income (loss)	38.0		34.2			(36.9		)	^(G)	44.8				80.1		^(G)
Income tax provision (benefit)	78.4		94.5			89.3				(1.3		)	^(H)	260.9		^(H)
Net income	306.4		2,135.7		^(I)	104.1				475.0				3,021.2		^(I)
Net income attributable to Air Products
Income from continuing operations	251.6		304.4			104.2				474.2				1,134.4
Income (Loss) from discontinued operations	48.2		1,825.6		^(I)	(2.3		)		(5.5		)		1,866.0		^(I)
Net income attributable to Air Products	299.8		2,130.0			101.9				468.7				3,000.4
Basic Earnings Per Common Share Attributable to Air Products
Income from continuing operations	1.16		1.40			.48				2.17				5.20
Income (Loss) from discontinued operations	.22		8.38			(.01		)		(.02		)		8.56
Net income attributable to Air Products	1.38		9.78			.47				2.15				13.76
Diluted Earnings Per Common Share Attributable to Air Products
Income from continuing operations	1.15		1.39			.47				2.15				5.16
Income (Loss) from discontinued operations	.22		8.31			(.01		)		(.02		)		8.49
Net income attributable to Air Products	1.37		9.70			.46				2.13				13.65
Weighted Average Common Shares — Diluted (in millions)	219.7		219.7			219.8				220.1				219.8
Dividends declared per common share	.86		.95			.95				.95				3.71
Market price per common share – High	150.45		149.46			147.66				152.26
Market price per common share – Low	129.00		133.63			134.09				141.88


^(A)	Includes the impacts of the Tax Act. For additional information, refer to Note 22, Income Taxes.


^(B)	Includes the impacts of the restructuring of several foreign subsidiaries. For additional information, refer to Note 22, Income Taxes.


^(C)	Primarily includes benefits resulting from the resolution of uncertain tax positions related to the disposition of our former European Homecare business and post-closing adjustments associated with the sale of PMD. For additional information, refer to Note 3, Discontinued Operations.


^(D)	For additional information, refer to Note 4, Materials Technologies Separation.


^(E)	For additional information, refer to Note 5, Cost Reduction and Asset Actions.


^(F)	For additional information, refer to Note 10, Goodwill, and Note 11, Intangible Assets.


^(G)	Includes the impact of an other-than-temporary impairment of an investment in an equity affiliate. For additional information, refer to Note 8, Summarized Financial Information of Equity Affiliates.


^(H)	Includes the impact of a tax election benefit related to a non-U.S. subsidiary. For additional information, see Note 22, Income Taxes.

^(I)

Includes the after-tax gain on the sale of PMD. For additional information, see Note 3, Discontinued Operations.

Summarized Financial Information of Equity Affiliates

12 Months Ended

Sep. 30, 2018

Equity Method Investments and Joint Ventures [Abstract]

Summarized Financial Information of Equity Affiliates

SUMMARIZED FINANCIAL INFORMATION OF EQUITY AFFILIATES



Abdullah Hashim Industrial Gases & Equipment Co., Ltd. (25%);		INOX Air Products Limited (50%);
Air Products South Africa (Proprietary) Limited (50%);		Jazan Gas Projects Company (25%);
Bangkok Cogeneration Company Limited (49%);		Kulim Industrial Gases Sdn. Bhd. (50%);
Bangkok Industrial Gases Co., Ltd. (49%);		Sapio Produzione Idrogeno Ossigeno S.r.l. (49%);
Chengdu Air & Gas Products Ltd. (50%);		Tecnologia en Nitrogeno S. de R.L. de C.V. (50%);
Helios S.p.A. (49%);		Tyczka Industrie-Gases GmbH (50%);
High-Tech Gases (Beijing) Co., Ltd. (50%);		WuXi Hi-Tech Gas Co., Ltd. (50%);
INFRA Group (40%);		and principally, other industrial gas producers.



30 September			2018		2017
Current assets				$1,556.9		$1,333.2
Noncurrent assets			4,340.8		4,026.9
Current liabilities			635.7		666.8
Noncurrent liabilities			2,652.5		2,194.3

Year Ended 30 September	2018		2017		2016
Net sales		$2,663.1		$2,343.3		$2,271.6
Sales less cost of sales	1,050.6		878.6		871.5
Operating income	635.3		509.5		482.1
Net income	388.0		343.5		334.1

Dividends received from equity affiliates were $122.5, $99.5, and $95.9 in fiscal years 2018, 2017, and 2016, respectively.

The investment in net assets of and advances to equity affiliates as of 30 September 2018 and 2017 included investment in foreign affiliates of $1,276.0 and $1,285.1, respectively.

As of 30 September 2018 and 2017, the amount of investment in companies accounted for by the equity method included equity method goodwill of $42.4 and $45.8, respectively.

U.S. Tax Cuts and Jobs Act

For the year ended 30 September 2018, equity affiliates' income includes an expense of $28.5 for our proportionate share of the impact of the U.S. Tax Cuts and Jobs Act primarily recorded during the first quarter of fiscal year 2018. This expense is included in the fiscal year 2018 net income on a 100% basis in the table above. Refer to Note 22, Income Taxes, for additional information.

Equity Affiliate Impairment Charge

During the third quarter of fiscal year 2017, we recorded an other-than-temporary impairment charge of $79.5 on our investment in Abdullah Hashim Industrial Gases & Equipment Co., Ltd. (AHG), a 25%-owned equity affiliate in our Industrial Gases – EMEA segment. The impairment charge is reflected on our consolidated income statements within “Equity affiliates' income." This charge was not deductible for tax purposes and has been excluded from segment results.

The decline in value resulted from expectations for lower future cash flows to be generated by AHG, primarily due to challenging economic conditions in Saudi Arabia, including the impacts of lower prices in the oil and gas industry, increased competition, and capital project growth opportunities not materializing as anticipated.

The AHG investment was valued based on the results of the income and market valuation approaches. The income approach utilized a discount rate based on a market-participant, risk-adjusted weighted average cost of capital, which considers industry required rates of return on debt and equity capital for a target industry capital structure adjusted for risks associated with size and geography. Other significant estimates and assumptions that drove our updated valuation of AHG included revenue growth rates and profit margins that were lower than those upon acquisition and our assessment of AHG's business improvement plan effectiveness. Under the market approach, we estimated fair value based on market multiples of revenue and earnings derived from publicly-traded industrial gases companies engaged in similar lines of business, adjusted to reflect differences in size and growth prospects.

Jazan

On 19 April 2015, a joint venture between Air Products and ACWA Holding entered into a 20-year oxygen and nitrogen supply agreement to supply Saudi Aramco’s oil refinery and power plant being built in Jazan, Saudi Arabia. Air Products owns 25% of the joint venture and guarantees the repayment of its share of an equity bridge loan. ACWA also guarantees their share of the loan. We determined that the joint venture is a variable interest entity, for which we are not the primary beneficiary.

As of 30 September 2018 and 2017, other noncurrent liabilities included $94.4 for our obligation to make future equity contributions in 2020 based on our proportionate share of the advances received by the joint venture under the loan. During fiscal year 2016, we recorded a noncash transaction that resulted in an increase of $26.9 to our investment in net assets of and advances to equity affiliates. This noncash transaction has been excluded from the consolidated statement of cash flows. In total, we expect to invest approximately $100 in this joint venture. There has been no change to our investment during fiscal years 2018 and 2017.

Supplemental Information (Other Income (Expense), Net) (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Sep. 30, 2017

Jun. 30, 2017

Mar. 31, 2017

Dec. 31, 2016

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2016

Technology and royalty income

^[1]

$ 22.8

$ 20.8

$ 19.0

Interest income

^[2]

0.0

1.5

6.1

Foreign exchange

(3.9)

4.3

(7.2)

Sale of assets and investments

^[3]

6.9

24.3

8.8

Contract settlements

2.9

14.3

12.6

Transition service agreements reimbursement

^[4]

12.7

38.4

0.0

8.8

17.4

10.1

Commitments and Contingencies Disclosure [Abstract]

$ 50.2

121.0

$ 49.4

Gain on land sale

$ 12.2

$ 0.0

$ 12.2

[1]	Primarily includes related party activity with our equity affiliates.
[2]	Beginning in the second quarter of fiscal year 2017, interest income associated with our cash and cash items and short-term investments is reflected on the consolidated income statements in "Other non-operating income (expense), net."
[3]	Includes a gain of $12.2 resulting from the sale of a parcel of land during the fourth quarter of fiscal year 2017.
[4]	Reflects reimbursement for costs in support of transition services agreements with Versum for EMD and with Evonik for PMD. Refer to Note 4, Materials Technologies Separation, for additional information.

Commitments and Contingencies

12 Months Ended

Sep. 30, 2018

Commitments and Contingencies

COMMITMENTS AND CONTINGENCIES

LITIGATION

We are involved in various legal proceedings, including commercial, competition, environmental, health, safety, product liability, and insurance matters. In September 2010, the Brazilian Administrative Council for Economic Defense ("CADE") issued a decision against our 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 million (approximately $44 at 30 September 2018) 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 our total revenue in Brazil in 2003.

We have denied the allegations made by the authorities and filed an appeal in October 2010 with the Brazilian courts. On 6 May 2014, our appeal was granted and the fine against Air Products Brasil Ltda. was dismissed. CADE has appealed that ruling and the matter remains pending. We, with advice of our outside legal counsel, have assessed the status of this matter and have concluded that, although an adverse final judgment after exhausting all appeals is possible, such a judgment is not probable. As a result, no provision has been made in the consolidated financial statements. We estimate the maximum possible loss to be the full amount of the fine of R$179.2 million (approximately $44 at 30 September 2018) plus interest accrued thereon until final disposition of the proceedings.

Other than this matter, we do not currently believe there are any legal proceedings, individually or in the aggregate, that are reasonably possible to have a material impact on our financial condition, results of operations, or cash flows.

ENVIRONMENTAL

In the normal course of business, we are involved in legal proceedings under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA: the federal Superfund law); Resource Conservation and Recovery Act (RCRA); and similar state and foreign environmental laws relating to the designation of certain sites for investigation or remediation. Presently, there are 32 sites on which a final settlement has not been reached where we, along with others, have been designated a potentially responsible party by the Environmental Protection Agency or are otherwise engaged in investigation or remediation, including cleanup activity at certain of our current and former manufacturing sites. We continually monitor these sites for which we have 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. The consolidated balance sheets at 30 September 2018 and 2017 included an accrual of $76.8 and $83.6, respectively, primarily as part of other noncurrent liabilities. The environmental liabilities will be paid over a period of up to 30 years. We estimate the exposure for environmental loss contingencies to range from $76 to a reasonably possible upper exposure of $90 as of 30 September 2018.

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 our proportionate share occurs. We do not expect that any sum we 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 our financial position or results of operations in any one year.

Pace

At 30 September 2018, $26.0 of the environmental accrual was related to the Pace facility.

In 2006, we sold our Amines business, which included operations at Pace, Florida, and recognized a liability for retained environmental obligations associated with remediation activities at Pace. We are required by the Florida Department of Environmental Protection (FDEP) and the United States Environmental Protection Agency (USEPA) to continue our remediation efforts. We estimated that it would take a substantial period of time to complete the groundwater remediation, and the costs through completion were estimated to range from $42 to $52. As no amount within the range was a better estimate than another, we recognized a before-tax expense of $42 in fiscal 2006 as a component of income from discontinued operations and recorded an environmental accrual of $42 in continuing operations on the consolidated balance sheets. There has been no change to the estimated exposure range related to the Pace facility.

We have implemented many of the remedial corrective measures at the Pace 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. We 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, we completed a focused feasibility study that has identified alternative approaches that may more effectively remove contaminants. We continue to review alternative remedial approaches with the FDEP and have started additional field work to support the design of an improved groundwater recovery network with the objective of targeting areas of higher contaminant concentration and avoiding areas of high groundwater iron which has proven to be a significant operability issue for the project. In the first quarter of 2015, we entered into a new Consent Order with the FDEP requiring us to continue our remediation efforts at the Pace facility. The costs we are incurring under the new Consent Order are consistent with our previous estimates.

Piedmont

At 30 September 2018, $15.7 of the environmental accrual was related to the Piedmont site.

On 30 June 2008, we sold our 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, we 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.

We are required by the South Carolina Department of Health and Environmental Control (SCDHEC) to address both contaminated soil and groundwater. Numerous areas of soil contamination have been addressed, and contaminated groundwater is being recovered and treated. The SCDHEC issued its final approval to the site-wide feasibility study on 13 June 2017 and the Record of Decision for the site on 27 June 2018. Field work has started to support the remedial design, and in the fourth quarter of fiscal year 2018, we signed a Consent Agreement Amendment memorializing our obligations to complete the cleanup of the site. We estimate that source area remediation and groundwater recovery and treatment will continue through 2029. Thereafter, we expect this site to go into a state of monitored natural attenuation through 2047.

We recognized a before-tax expense of $24 in 2008 as a component of income from discontinued operations and recorded an environmental liability of $24 in continuing operations on the consolidated balance sheets. There have been no significant changes to the estimated exposure.

Pasadena

At 30 September 2018, $11.7 of the environmental accrual was related to the Pasadena site.

During the fourth quarter of 2012, management committed to permanently shutting down our polyurethane intermediates (PUI) production facility in Pasadena, Texas. In shutting down and dismantling the facility, we have undertaken certain obligations related to soil and groundwater contaminants. We have been pumping and treating groundwater to control off-site contaminant migration in compliance with regulatory requirements and under the approval of the Texas Commission on Environmental Quality (TCEQ). We estimate that the pump and treat system will continue to operate until 2042.

We plan to perform additional work to address other environmental obligations at the site. This additional work includes remediating, as required, impacted soils, investigating groundwater west of the former PUI facility, performing post closure care for two closed RCRA surface impoundment units, and establishing engineering controls. In 2012, we estimated the total exposure at this site to be $13. There have been no significant changes to the estimated exposure.

ASSET RETIREMENT OBLIGATIONS

Our asset retirement obligations are primarily associated with on-site long-term supply contracts under which we have built a facility on land owned by the customer and are obligated to remove the facility at the end of the contract term. The retirement of assets includes the contractually required removal of a long-lived asset from service and encompasses the sale, removal, abandonment, recycling, or disposal of the assets as required at the end of the contract terms. These obligations are primarily reflected in "Other noncurrent liabilities" on the consolidated balance sheets. The timing and/or method of settlement of these obligations are conditional on a future event that may or may not be within our control.

Changes to the carrying amount of our asset retirement obligations are as follows:



Balance at 30 September 2016		$119.9
Additional accruals	22.7
Liabilities settled	(4.1		)
Accretion expense	5.8
Currency translation adjustment	.4
Balance at 30 September 2017		$144.7
Additional accruals	43.8
Liabilities settled	(2.6		)
Accretion expense	7.2
Currency translation adjustment	(2.7		)
Balance at 30 September 2018		$190.4

The increase in the liability during fiscal year 2018 primarily relates to new obligations associated with the Lu'An asset acquisition completed in April 2018.

GUARANTEES AND WARRANTIES

In April 2015, we entered into joint venture arrangements in Saudi Arabia. An equity bridge loan has been provided to the joint venture until 2020 to fund equity commitments. We guaranteed the repayment of our 25% share of this loan, and our venture partner guaranteed repayment of its share. Our maximum exposure under the guarantee is approximately $100. As of 30 September 2018 and 2017, we recorded a noncurrent liability of $94.4 for our obligation to make future equity contributions based on our proportionate share of the advances received by the joint venture under the loan.

Air Products has also entered into a long-term sale of equipment contract with the joint venture to engineer, procure, and construct the industrial gas facilities that will supply gases to Saudi Aramco. We provided bank guarantees to the joint venture to support our performance under the contract. As of 30 September 2018, our maximum potential payments were $249. Exposures under the guarantees decline over time and will be completely extinguished after completion of the project.

We are party to an equity support agreement and operations guarantee related to an air separation facility constructed in Trinidad for a venture in which we own 50%. At 30 September 2018, maximum potential payments under joint and several guarantees were $27.0. Exposures under the guarantees decline over time and will be completely extinguished by 2024.

During the first quarter of 2014, we sold the remaining portion of our Homecare business and entered into an operations guarantee related to obligations under certain homecare contracts assigned in connection with the transaction. Our maximum potential payment under the guarantee is £20 million (approximately $25 at 30 September 2018), and our exposure will be extinguished by 2020.

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

We, in the normal course of business operations, have issued product warranties related to equipment sales. 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.

We do not expect that any sum we may have to pay in connection with guarantees and warranties will have a material adverse effect on our consolidated financial condition, liquidity, or results of operations.

UNCONDITIONAL PURCHASE OBLIGATIONS

We are obligated to make future payments under unconditional purchase obligations as summarized below:



2019		$851
2020	362
2021	342
2022	318
2023	326
Thereafter	5,461
Total		$7,660

Approximately $6,800 of our unconditional purchase obligations relate to helium purchases. The majority of these obligations occur after fiscal year 2023. Helium purchases include crude feedstock supply to multiple helium refining plants in North America as well as refined helium purchases from sources around the world. As a rare byproduct of natural gas production in the energy sector, these helium sourcing agreements are medium- to long-term and contain take-if-tendered provisions. The refined helium is distributed globally and sold as a merchant gas, primarily under medium-term requirements contracts. While contract terms in the energy sector are longer than those in merchant, helium is a rare gas used in applications with few or no substitutions because of its unique physical and chemical properties.

Approximately $210 of our 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 long-term feedstock supply obligations to customer sales contracts, we do not believe these purchase obligations would have a material effect on our financial condition or results of operations.

The unconditional purchase obligations also include other product supply and purchase commitments and electric power and natural gas supply purchase obligations, which are primarily pass-through contracts with our customers.

Purchase commitments to spend approximately $455 for additional plant and equipment are included in the unconditional purchase obligations in 2019.

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, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2017

Sep. 30, 2017

Jun. 30, 2017

Mar. 31, 2017

Dec. 31, 2016

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2016

Earnings Per Share [Abstract]

Income from continuing operations

$ 452.9

$ 430.7

$ 416.4

$ 155.6

$ 474.2

$ 104.2

$ 304.4

$ 251.6

$ 1,455.6

$ 1,134.4

$ 1,099.5

Income (Loss) from discontinued operations

0.0

43.2

^[1]

0.0

(1.0)

(5.5)

(2.3)

1,825.6

^[2]

48.2

42.2

^[1]

1,866.0

^[2]

(468.4)

Net Income Attributable to Air Products

$ 452.9

$ 473.9

$ 416.4

$ 154.6

$ 468.7

$ 101.9

$ 2,130.0

$ 299.8

$ 1,497.8

$ 3,000.4

$ 631.1

Weighted average common shares — Basic

219.3

218.0

216.4

Employee stock option and other award plans

1.5

1.8

1.9

Weighted average common shares — Diluted

220.9

220.8

220.4

220.1

219.8

219.7

220.8

219.8

218.3

Basic Earnings Per Common Share Attributable to Air Products

Income from continuing operations (in dollars per share)

$ 2.06

$ 1.96

$ 1.90

$ 0.71

$ 2.17

$ 0.48

$ 1.40

$ 1.16

$ 6.64

$ 5.20

$ 5.08

Income (Loss) from discontinued operations (in dollars per share)

0.20

(0.02)

(0.01)

8.38

0.22

0.19

8.56

(2.16)

Net Income Attributable to Air Products (in dollars per share)

2.06

2.16

1.90

0.71

2.15

0.47

9.78

1.38

6.83

13.76

2.92

Diluted Earnings Per Common Share Attributable to Air Products

Income from continuing operations (in dollars per share)

2.05

1.95

1.89

0.70

2.15

0.47

1.39

1.15

6.59

5.16

5.04

Income (Loss) from discontinued operations (in dollars per share)

0.20

(0.02)

(0.01)

8.31

0.22

0.19

8.49

(2.15)

Net Income Attributable to Air Products (in dollars per share)

$ 2.05

$ 2.15

$ 1.89

$ 0.70

$ 2.13

$ 0.46

$ 9.70

$ 1.37

$ 6.78

$ 13.65

$ 2.89

[1]	Primarily includes benefits resulting from the resolution of uncertain tax positions related to the disposition of our former European Homecare business and post-closing adjustments associated with the sale of PMD. For additional information, refer to Note 3, Discontinued Operations.
[2]	Includes the after-tax gain on the sale of PMD. For additional information, see Note 3, Discontinued Operations.

Inventories

12 Months Ended

Sep. 30, 2018

Inventory Disclosure [Abstract]

Inventories

INVENTORIES

The components of inventories are as follows:



30 September	2018		2017
Finished goods		$125.4		$120.0
Work in process	21.2		15.7
Raw materials, supplies and other	249.5		223.0
Total FIFO Cost	396.1		358.7
Less: Excess of FIFO cost over LIFO cost	—		(23.3		)
Inventories		$396.1		$335.4

As discussed in Note 1, Major Accounting Policies, we changed our accounting method for U.S. inventories from a LIFO basis to a FIFO basis effective 1 July 2018. As of 30 September 2017, inventories valued using the LIFO method comprised approximately 49% of consolidated inventories before LIFO adjustment. Liquidation of LIFO inventory layers prior to our change in accounting policy in fiscal year 2018 and in fiscal years 2017 and 2016 did not materially affect the results of operations.

We did not restate prior period financial statements for the change in U.S. inventories as the impact was not material. Instead, the Company applied the accounting change as a cumulative effect adjustment to cost of sales in the fourth quarter of fiscal year 2018. This change increased inventories by $24.1 at 1 July 2018 and increased pre-tax income from continuing operations by $24.1 for the quarter and fiscal year ended 30 September 2018.

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

3 Months Ended

12 Months Ended

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2017

Sep. 30, 2017

Jun. 30, 2017

Mar. 31, 2017

Dec. 31, 2016

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2016

Quarterly Financial Information Disclosure [Abstract]

Business separation costs

$ 2,298.9

$ 2,259.0

$ 2,155.7

$ 2,216.6

$ 2,203.1

$ 2,121.9

$ 1,980.1

$ 1,882.5

$ 8,930.2

$ 8,187.6

$ 7,503.7

Gross profit

733.1

713.6

649.2

644.8

658.1

635.9

576.3

565.8

2,740.7

2,436.1

0.0

^[1]

0.0

^[1]

0.0

^[1]

32.5

^[1]

0.0

32.5

^[1]

50.6

Goodwill and intangible asset impairment charge

48.4

^[2]

42.7

^[2]

10.3

^[2]

50.0

^[2]

0.0

151.4

^[2]

34.5

0.0

^[3]

162.1

^[3]

0.0

^[3]

0.0

^[3]

0.0

162.1

^[3]

0.0

Gain on land sale

12.2

0.0

12.2

Operating income

533.7

515.8

455.4

460.7

457.4

258.7

395.6

328.3

1,965.6

1,440.0

1,535.1

59.2

^[4]

58.1

43.7

13.8

^[4]

44.8

(36.9)

^[5]

34.2

38.0

174.8

^[4]

80.1

^[5]

147.0

Income from continuing operations

69.2

^[4],[6]

107.1

56.2

^[6]

291.8

^[4]

(1.3)

^[7]

89.3

94.5

78.4

524.3

^[4],[6]

260.9

^[7]

432.6

Net income

459.7

487.9

423.6

161.7

475.0

104.1

2,135.7

^[8]

306.4

1,532.9

3,021.2

^[8]

661.5

452.9

430.7

416.4

155.6

474.2

104.2

304.4

251.6

1,455.6

1,134.4

1,099.5

Income (Loss) from discontinued operations

0.0

43.2

^[9]

0.0

(1.0)

(5.5)

(2.3)

1,825.6

^[8]

48.2

42.2

^[9]

1,866.0

^[8]

(468.4)

Net income attributable to Air Products

$ 452.9

$ 473.9

$ 416.4

$ 154.6

$ 468.7

$ 101.9

$ 2,130.0

$ 299.8

$ 1,497.8

$ 3,000.4

$ 631.1

Basic Earnings Per Common Share Attributable to Air Products

Income from continuing operations (in dollars per share)

$ 2.06

$ 1.96

$ 1.90

$ 0.71

$ 2.17

$ 0.48

$ 1.40

$ 1.16

$ 6.64

$ 5.20

$ 5.08

Income (Loss) from discontinued operations (in dollars per share)

0.20

(0.02)

(0.01)

8.38

0.22

0.19

8.56

(2.16)

Net Income Attributable to Air Products (in dollars per share)

2.06

2.16

1.90

0.71

2.15

0.47

9.78

1.38

6.83

13.76

2.92

Diluted Earnings Per Common Share Attributable to Air Products

Income from continuing operations (in dollars per share)

2.05

1.95

1.89

0.70

2.15

0.47

1.39

1.15

6.59

5.16

5.04

Income (Loss) from discontinued operations (in dollars per share)

0.20

(0.02)

(0.01)

8.31

0.22

0.19

8.49

(2.15)

Net Income Attributable to Air Products (in dollars per share)

$ 2.05

$ 2.15

$ 1.89

$ 0.70

$ 2.13

$ 0.46

$ 9.70

$ 1.37

$ 6.78

$ 13.65

$ 2.89

Weighted Average Common Shares - Diluted (in millions)

220.9

220.8

220.4

220.1

219.8

219.7

220.8

219.8

218.3

Dividends declared per common share

$ 1.10

$ 0.95

$ 0.86

$ 4.25

$ 3.71

$ 3.39

Market price per common share - High

171.66

170.29

175.17

164.78

152.26

147.66

149.46

150.45

Market price per common share - Low

$ 153.02

$ 154.67

$ 152.71

$ 150.55

$ 141.88

$ 134.09

$ 133.63

$ 129.00

[1]	For additional information, refer to Note 4, Materials Technologies Separation.
[2]	For additional information, refer to Note 5, Cost Reduction and Asset Actions.
[3]	For additional information, refer to Note 10, Goodwill, and Note 11, Intangible Assets.
[4]	Includes the impacts of the Tax Act. For additional information, refer to Note 22, Income Taxes.
[5]	Includes the impact of an other-than-temporary impairment of an investment in an equity affiliate. For additional information, refer to Note 8, Summarized Financial Information of Equity Affiliates.
[6]	Includes the impacts of the restructuring of several foreign subsidiaries. For additional information, refer to Note 22, Income Taxes.
[7]	Includes the impact of a tax election benefit related to a non-U.S. subsidiary. For additional information, see Note 22, Income Taxes.
[8]	Includes the after-tax gain on the sale of PMD. For additional information, see Note 3, Discontinued Operations.
[9]	Primarily includes benefits resulting from the resolution of uncertain tax positions related to the disposition of our former European Homecare business and post-closing adjustments associated with the sale of PMD. For additional information, refer to Note 3, Discontinued Operations.

Financial Instruments

12 Months Ended

Sep. 30, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Financial Instruments

FINANCIAL INSTRUMENTS

Currency Price Risk Management

Our 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 our policy to minimize our cash flow volatility from changes in currency exchange rates. This is accomplished by identifying and evaluating the risk that our cash flows will change in value due to changes in exchange rates and by executing the appropriate strategies necessary to manage such exposures. Our objective is to maintain economically balanced currency risk management strategies that provide adequate downside protection.

Forward Exchange Contracts

We enter 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. We also enter into forward exchange contracts to hedge the cash flow exposure on intercompany loans. This portfolio of forward exchange contracts consists primarily of Euros and U.S. Dollars. The maximum remaining term of any forward exchange contract currently outstanding and designated as a cash flow hedge at 30 September 2018 is 1.9 years.

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 we have a net equity position. The primary currency pair in this portfolio of forward exchange contracts is Euros and U.S. Dollars.

In addition to the forward exchange contracts that are designated as hedges, we utilize forward exchange contracts that are not designated as hedges. These contracts are used to economically hedge foreign currency-denominated monetary assets and liabilities, primarily working capital. The primary objective of these forward exchange 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 consists of many different foreign currency pairs, with a profile that changes from time to time depending on business activity and sourcing decisions.

The table below summarizes our outstanding currency price risk management instruments:



	30 September 2018			30 September 2017
	US$ Notional		Years Average Maturity	US$ Notional		Years Average Maturity
Forward Exchange Contracts
Cash flow hedges		$2,489.1	0.4		$3,150.2	0.4
Net investment hedges	457.5		1.7	675.5		3.0
Not designated	1,736.1		0.8	273.8		0.1
Total Forward Exchange Contracts		$4,682.7	0.7		$4,099.5	0.8

The notional value of forward exchange contracts not designated in the table above increased as a result of repayment of intercompany loans prior to their original maturity dates. The outstanding forward exchange contracts no longer qualified as cash flow hedges due to the early repayment of the loans. In addition, as a result of changes in our currency exposures, we de-designated a portion of forward exchange contracts previously designated as net investment hedges. To eliminate any future earnings impact from these items, we entered into equal and offsetting forward exchange contracts.

In addition to the above, we use foreign currency-denominated debt to hedge the foreign currency exposures of our net investment in certain foreign subsidiaries. The designated foreign currency-denominated debt and related accrued interest included €908.8 million ($1,054.6) at 30 September 2018 and €912.2 million ($1,077.7) at 30 September 2017. The designated foreign currency-denominated debt is located on the balance sheets in the long-term debt line item.

Debt Portfolio Management

It is our policy 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 are managed with the objectives and intent to (1) reduce funding risk with respect to borrowings made by us to preserve our 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 Management Contracts

We enter into interest rate swaps to change the fixed/variable interest rate mix of our 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 manage interest rate risks and costs inherent in our debt portfolio. Our interest rate management portfolio generally consists of fixed-to-floating interest rate swaps (which are designated as fair value hedges), pre-issuance interest rate swaps and treasury locks (which hedge the interest rate risk associated with anticipated fixed-rate debt issuances and are designated as cash flow hedges), and floating-to-fixed interest rate swaps (which are designated as cash flow hedges). At 30 September 2018, the outstanding interest rate swaps were denominated in U.S. Dollars. The notional amount of the interest rate swap agreements is equal to or less than the designated debt being hedged. When interest rate swaps are used to hedge variable-rate debt, the indices of the swaps and the debt to which they are designated are the same. It is our policy not to enter into any interest rate management contracts which lever a move in interest rates on a greater than one-to-one basis.

Cross Currency Interest Rate Swap Contracts

We enter into cross currency interest rate swap contracts when our risk management function 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. The contracts are used to hedge either certain net investments in foreign operations or nonfunctional currency cash flows related to intercompany loans. The current cross currency interest rate swap portfolio consists of fixed-to-fixed swaps primarily between U.S. Dollars and Chinese Renminbi, U.S. Dollars and Chilean Pesos, and U.S. Dollars and Indian Rupee.

The following table summarizes our outstanding interest rate management contracts and cross currency interest rate swaps:



	30 September 2018							30 September 2017
	US$ Notional		Average Pay %		Average Receive %		Years Average Maturity	US$ Notional		Average Pay %		Average Receive %		Years Average Maturity
Interest rate swaps (fair value hedge)		$600.0	LIBOR		2.60	%	1.6		$600.0	LIBOR		2.28	%	1.3
Cross currency interest rate swaps (net investment hedge)		$201.7	4.42	%	2.97	%	3.1		$539.7	3.27	%	2.59	%	1.9
Cross currency interest rate swaps (cash flow hedge)		$1,052.7	4.99	%	2.89	%	2.3		$1,095.7	4.96	%	2.78	%	2.4
Cross currency interest rate swaps (not designated)		$80.2	4.88	%	3.43	%	3.9		$41.6	3.28	%	2.32	%	1.7

The table below summarizes the fair value and balance sheet location of our outstanding derivatives:



	Balance Sheet	30 September				Balance Sheet	30 September
	Location	2018		2017		Location	2018		2017
Derivatives Designated as Hedging Instruments:
Forward exchange contracts	Other receivables		$24.9		$81.7	Accrued liabilities		$37.0		$82.0
Interest rate management contracts	Other receivables	24.3		11.1		Accrued liabilities	2.3		10.7
Forward exchange contracts	Other noncurrent assets	19.8		27.1		Other noncurrent liabilities	4.6		13.8
Interest rate management contracts	Other noncurrent assets	48.7		102.6		Other noncurrent liabilities	11.6		22.2
Total Derivatives Designated as Hedging Instruments			$117.7		$222.5			$55.5		$128.7
Derivatives Not Designated as Hedging Instruments:
Forward exchange contracts	Other receivables	7.9		1.1		Accrued liabilities		$14.9		$2.2
Interest rate management contracts	Other receivables	4.0		—		Accrued liabilities	—		1.0
Forward exchange contracts	Other noncurrent assets	16.2		—		Other noncurrent liabilities	23.7		—
Interest rate management contracts	Other noncurrent assets	.3		4.2		Other noncurrent liabilities	—		—
Total Derivatives Not Designated as Hedging Instruments			$28.4		$5.3			$38.6		$3.2
Total Derivatives			$146.1		$227.8			$94.1		$131.9

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 our cash flow hedges, fair value hedges, net investment hedges, and derivatives not designated as hedging instruments:



	Year Ended 30 September
	Forward Exchange Contracts						Foreign Currency Debt					Other^(A)						Total
	2018			2017			2018		2017			2018			2017			2018			2017
Cash Flow Hedges, net of tax:
Net gain (loss) recognized in OCI (effective portion)		$2.4			$.3			$—		$—			$43.5			($12.9	)		$45.9			($12.6	)
Net (gain) loss reclassified from OCI to sales/cost of sales (effective portion)	7.1			18.3			—		—			—			—			7.1			18.3
Net (gain) loss reclassified from OCI to other income (expense), net (effective portion)	(7.8		)	(3.8		)	—		—			(33.8		)	10.5			(41.6		)	6.7
Net (gain) loss reclassified from OCI to interest expense (effective portion)	1.2			(2.1		)	—		—			3.9			2.9			5.1			.8
Net (gain) loss reclassified from OCI to other income (expense), net (ineffective portion)	(.5		)	(1.6		)	—		—			(.5		)	—			(1.0		)	(1.6		)
Fair Value Hedges:
Net gain (loss) recognized in interest expense^(B)		$—			$—			$—		$—			($10.1	)		($14.7	)		($10.1	)		($14.7	)
Net Investment Hedges, net of tax:
Net gain (loss) recognized in OCI		($.6	)		($11.1	)		$10.2		($32.8	)		$11.0			($15.6	)		$20.6			($59.5	)
Derivatives Not Designated as Hedging Instruments:
Net gain (loss) recognized in other income (expense), net^(C)		($4.0	)		$4.1			$—		$—			($.8	)		($2.4	)		($4.8	)		$1.7


^(A)	Other includes the impact on other comprehensive income (OCI) and earnings primarily related to interest rate and cross currency interest rate swaps.


^(B)	The impact of fair value hedges noted above was largely offset by recognized gains and losses resulting from the impact of changes in related interest rates on outstanding debt.


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

The amount of cash flow hedges’ unrealized gains and losses at 30 September 2018 that are expected to be reclassified to earnings in the next twelve months is not material.

The cash flows related to all derivative contracts are reported in the operating activities section of the consolidated statements of cash flows.

Credit Risk-Related Contingent Features

Certain derivative instruments are executed under agreements that require us to maintain a minimum credit rating with both Standard & Poor’s and Moody’s. If our 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 $33.4 as of 30 September 2018 and $34.6 as of 30 September 2017. Because our current credit rating is above the various pre-established thresholds, no collateral has been posted on these liability positions.

Counterparty Credit Risk Management

We execute financial derivative transactions with counterparties that are highly rated financial institutions, all of which are investment grade at this time. Some of our underlying derivative agreements give us the right to require the institution to post collateral if its credit rating falls below the pre-established thresholds with Standard & Poor’s or Moody’s. The collateral that the counterparties would be required to post was $97.6 as of 30 September 2018 and $138.5 as of 30 September 2017. No financial institution is required to post collateral at this time, as all have credit ratings at or above the threshold.

Consolidated Comprehensive Income Statements (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Statement of Comprehensive Income [Abstract]
Tax effect on translation adjustments	$ 1.1	$ (19.3)	$ (19.8)
Tax effect on net gain (loss) on derivatives	9.7	(11.0)	9.1
Tax effect on pension and postretirement benefits	55.2	109.0	(157.4)
Tax effect on derivatives reclassification adjustments	(9.2)	11.7	(9.4)
Tax effect on pension and postretirement benefits reclassification adjustments	$ 44.9	$ 50.7	$ 43.0

Summary by Quarter (Unaudited) (Tables)

12 Months Ended

Sep. 30, 2018

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information

These tables summarize the unaudited results of operations for each quarter of fiscal years 2018 and 2017:



2018	Q1				Q2			Q3			Q4			Total
Sales		$2,216.6				$2,155.7			$2,259.0			$2,298.9			$8,930.2
Gross profit	644.8				649.2			713.6			733.1			2,740.7
Operating income	460.7				455.4			515.8			533.7			1,965.6
Equity affiliates income	13.8			^(A)	43.7			58.1			59.2		^(A)	174.8		^(A)
Income tax provision	291.8			^(A)	56.2		^(B)	107.1			69.2		^(A)(B)	524.3		^(A)(B)
Net income	161.7				423.6			487.9			459.7			1,532.9
Net income attributable to Air Products
Income from continuing operations	155.6				416.4			430.7			452.9			1,455.6
Income (Loss) from discontinued operations	(1.0		)		—			43.2		^(C)	—			42.2		^(C)
Net income attributable to Air Products	154.6				416.4			473.9			452.9			1,497.8
Basic Earnings Per Common Share Attributable to Air Products
Income from continuing operations	.71				1.90			1.96			2.06			6.64
Income from discontinued operations	—				—			.20			—			.19
Net income attributable to Air Products	.71				1.90			2.16			2.06			6.83
Diluted Earnings Per Common Share Attributable to Air Products
Income from continuing operations	.70				1.89			1.95			2.05			6.59
Income from discontinued operations	—				—			.20			—			.19
Net income attributable to Air Products	.70				1.89			2.15			2.05			6.78
Weighted Average Common Shares — Diluted (in millions)	220.4				220.8			220.9			220.9			220.8
Dividends declared per common share	.95				1.10			1.10			1.10			4.25
Market price per common share – High	164.78				175.17			170.29			171.66
Market price per common share – Low	150.55				152.71			154.67			153.02



2017	Q1		Q2			Q3				Q4				Total
Sales		$1,882.5		$1,980.1			$2,121.9				$2,203.1				$8,187.6
Gross profit	565.8		576.3			635.9				658.1				2,436.1
Business separation costs^(D)	32.5		—			—				—				32.5
Cost reduction and assets actions^(E)	50.0		10.3			42.7				48.4				151.4
Goodwill and intangible asset impairment charge^(F)	—		—			162.1				—				162.1
Gain on land sale	—		—			—				12.2				12.2
Operating income	328.3		395.6			258.7				457.4				1,440.0
Equity affiliates income (loss)	38.0		34.2			(36.9		)	^(G)	44.8				80.1		^(G)
Income tax provision (benefit)	78.4		94.5			89.3				(1.3		)	^(H)	260.9		^(H)
Net income	306.4		2,135.7		^(I)	104.1				475.0				3,021.2		^(I)
Net income attributable to Air Products
Income from continuing operations	251.6		304.4			104.2				474.2				1,134.4
Income (Loss) from discontinued operations	48.2		1,825.6		^(I)	(2.3		)		(5.5		)		1,866.0		^(I)
Net income attributable to Air Products	299.8		2,130.0			101.9				468.7				3,000.4
Basic Earnings Per Common Share Attributable to Air Products
Income from continuing operations	1.16		1.40			.48				2.17				5.20
Income (Loss) from discontinued operations	.22		8.38			(.01		)		(.02		)		8.56
Net income attributable to Air Products	1.38		9.78			.47				2.15				13.76
Diluted Earnings Per Common Share Attributable to Air Products
Income from continuing operations	1.15		1.39			.47				2.15				5.16
Income (Loss) from discontinued operations	.22		8.31			(.01		)		(.02		)		8.49
Net income attributable to Air Products	1.37		9.70			.46				2.13				13.65
Weighted Average Common Shares — Diluted (in millions)	219.7		219.7			219.8				220.1				219.8
Dividends declared per common share	.86		.95			.95				.95				3.71
Market price per common share – High	150.45		149.46			147.66				152.26
Market price per common share – Low	129.00		133.63			134.09				141.88


^(A)	Includes the impacts of the Tax Act. For additional information, refer to Note 22, Income Taxes.


^(B)	Includes the impacts of the restructuring of several foreign subsidiaries. For additional information, refer to Note 22, Income Taxes.


^(C)	Primarily includes benefits resulting from the resolution of uncertain tax positions related to the disposition of our former European Homecare business and post-closing adjustments associated with the sale of PMD. For additional information, refer to Note 3, Discontinued Operations.


^(D)	For additional information, refer to Note 4, Materials Technologies Separation.


^(E)	For additional information, refer to Note 5, Cost Reduction and Asset Actions.


^(F)	For additional information, refer to Note 10, Goodwill, and Note 11, Intangible Assets.


^(G)	Includes the impact of an other-than-temporary impairment of an investment in an equity affiliate. For additional information, refer to Note 8, Summarized Financial Information of Equity Affiliates.


^(H)	Includes the impact of a tax election benefit related to a non-U.S. subsidiary. For additional information, see Note 22, Income Taxes.

^(I)

Includes the after-tax gain on the sale of PMD. For additional information, see Note 3, Discontinued Operations.

Retirement Benefits (Projected Benefit Payments) (Details) - Defined Benefit Pension Plan $ in Millions	Sep. 30, 2018 USD ($)
U.S.
Defined Benefit Plan Disclosure [Line Items]
2019	$ 165.5
2020	152.4
2021	157.0
2022	163.7
2023	167.9
2024-2028	900.2
International
Defined Benefit Plan Disclosure [Line Items]
2019	52.8
2020	53.9
2021	55.6
2022	56.0
2023	60.6
2024-2028	$ 336.8

Goodwill (Schedule of Goodwill by Segment) (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Jun. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Goodwill [Roll Forward]
Goodwill, net, beginning balance	$ 845.1	$ 721.5	$ 845.1
Impairment loss			(145.3)
Acquisitions		78.0	3.5
Currency translation		(10.6)	18.2
Goodwill, net, ending balance		788.9	721.5
Industrial Gases - Americas
Goodwill [Roll Forward]
Goodwill, net, beginning balance	309.1	163.7	309.1
Impairment loss	(145.3)		(145.3)
Acquisitions		0.0	0.0
Currency translation		(1.6)	(0.1)
Goodwill, net, ending balance		162.1	163.7
Industrial Gases - EMEA
Goodwill [Roll Forward]
Goodwill, net, beginning balance	380.6	402.4	380.6
Impairment loss			0.0
Acquisitions		29.5	3.5
Currency translation		(7.5)	18.3
Goodwill, net, ending balance		424.4	402.4
Industrial Gases - Asia
Goodwill [Roll Forward]
Goodwill, net, beginning balance	135.2	135.2	135.2
Impairment loss			0.0
Acquisitions		38.1	0.0
Currency translation		(1.4)	0.0
Goodwill, net, ending balance		171.9	135.2
Industrial Gases - Global
Goodwill [Roll Forward]
Goodwill, net, beginning balance	20.2	20.2	20.2
Impairment loss			0.0
Acquisitions		0.0	0.0
Currency translation		(0.1)	0.0
Goodwill, net, ending balance		20.1	20.2
Corporate and other
Goodwill [Roll Forward]
Goodwill, net, beginning balance	$ 0.0	0.0	0.0
Impairment loss			0.0
Acquisitions		10.4	0.0
Currency translation		0.0	0.0
Goodwill, net, ending balance		$ 10.4	$ 0.0

Accumulated Other Comprehensive Loss (Reclassification) (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2017

Sep. 30, 2017

Jun. 30, 2017

Mar. 31, 2017

Dec. 31, 2016

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2016

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

$ (50.2)

$ (121.0)

$ (49.4)

130.5

120.6

115.2

6,189.5

5,751.5

5,177.3

Loss from discontinued operations, net of tax

$ 48.4

^[1]

$ 42.7

^[1]

$ 10.3

^[1]

$ 50.0

^[1]

0.0

151.4

^[1]

34.5

(42.2)

(1,866.0)

460.5

Reclassification out of Accumulated Other Comprehensive Income | (Gain) Loss on Cash Flow Hedges

$ (452.9)

$ (473.9)

$ (416.4)

$ (154.6)

$ (468.7)

$ (101.9)

$ (2,130.0)

$ (299.8)

(1,497.8)

(3,000.4)

(631.1)

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

Sales/cost of sales

7.1

18.3

0.2

(42.6)

5.1

(46.2)

5.1

0.8

10.0

Reclassification out of Accumulated Other Comprehensive Income | Currency Translation Adjustment

(30.4)

24.2

(36.0)

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

^[2]

3.1

0.0

Loss from discontinued operations, net of tax

^[3]

0.0

8.2

0.0

^[4]

0.0

49.1

2.7

Reclassification out of Accumulated Other Comprehensive Income | Pension and Postretirement Benefits

3.1

57.3

2.7

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

Goodwill and Intangible Assets Disclosure [Abstract]

^[5]

$ 133.1

$ 110.7

$ 87.2

[1]	For additional information, refer to Note 5, Cost Reduction and Asset Actions.
[2]	The fiscal year 2018 impact relates to an equipment sale resulting from the termination of a contract in the Industrial Gases – Asia segment during the first quarter.
[3]	The fiscal year 2017 impact relates to the planned sale of a non-industrial gas hardgoods business in the Industrial Gases – Americas segment recorded in the third quarter.
[4]	The fiscal year 2017 impact relates to the sale of PMD during the second quarter. The fiscal year 2016 impact primarily relates to the sale of an equity affiliate in the first quarter.
[5]	The components of net periodic benefit cost reclassified out of AOCL include items such as prior service cost amortization, actuarial loss amortization, and settlements and are included in “Other non-operating income (expense), net” on the consolidated income statements. Refer to Note 16, Retirement Benefits, for additional information.

Summarized Financial Information of Equity Affiliates (Investment Listing) (Details)	Sep. 30, 2018
Abdullah Hashim Industrial Gases & Equipment Co., Ltd.
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	25.00%
Air Products South Africa (Proprietary) Limited
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	50.00%
Bangkok Cogeneration Company Limited
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	49.00%
Bangkok Industrial Gases Co., Ltd.
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	49.00%
Chengdu Air & Gas Products Ltd.
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	50.00%
Helios S.p.A.
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	49.00%
High-Tech Gases (Beijing) Co., Ltd.
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	50.00%
INFRA Group
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	40.00%
INOX Air Products Limited
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	50.00%
Jazan Gas Projects Company
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	25.00%
Kulim Industrial Gases Sdn. Bhd.
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	50.00%
Sapio Produzione Idrogeno Ossigeno S.r.l.
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	49.00%
Tecnologia en Nitrogeno S. de R.L. de C.V.
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	50.00%
Tyczka Industrie-Gases GmbH
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	50.00%
WuXi Hi-Tech Gas Co., Ltd.
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	50.00%

Goodwill

12 Months Ended

Sep. 30, 2018

Goodwill

GOODWILL

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



	Industrial Gases– Americas			Industrial Gases– EMEA			Industrial Gases– Asia			Industrial Gases– Global			Corporate and other		Total
Goodwill, net at 30 September 2016		$309.1			$380.6			$135.2			$20.2			$—		$845.1
Impairment loss	(145.3		)	—			—			—			—		(145.3		)
Acquisitions	—			3.5			—			—			—		3.5
Currency translation	(.1		)	18.3			—			—			—		18.2
Goodwill, net at 30 September 2017		$163.7			$402.4			$135.2			$20.2			$—		$721.5
Acquisitions	—			29.5			38.1			—			10.4		78.0
Currency translation	(1.6		)	(7.5		)	(1.4		)	(.1		)	—		(10.6		)
Goodwill, net at 30 September 2018		$162.1			$424.4			$171.9			$20.1			$10.4		$788.9



30 September	2018			2017			2016
Goodwill, gross		$1,194.7			$1,138.7			$1,103.7
Accumulated impairment losses^(A)	(405.8		)	(417.2		)	(258.6		)
Goodwill, net		$788.9			$721.5			$845.1


^(A)	Accumulated impairment losses include the impacts of currency translation. These losses are attributable to our Latin America reporting unit (LASA) within the Industrial Gases – Americas segment.

We review goodwill for impairment annually in the fourth quarter of the fiscal year and whenever events or changes in circumstances indicate that the carrying value of goodwill might not be recoverable. The impairment test for goodwill involves calculating the fair value of each reporting unit and comparing that value to the carrying value. If the fair value of the reporting unit is less than its carrying value, the difference is recorded as a goodwill impairment charge, not to exceed the total amount of goodwill allocated to that reporting unit. During the fourth quarter of fiscal year 2018, we conducted our annual goodwill impairment test and determined that the fair value of all our reporting units exceeded their carrying value.

During the third quarter of fiscal year 2017, we conducted an interim impairment test of the goodwill associated with our Latin America Reporting unit (LASA) within the Industrial Gases – Americas segment. This was driven by Management's decision to lower long-term growth projections in response to declining volumes and weak economic conditions in Latin America during fiscal year 2017. We determined that the fair value of LASA was less than its carrying value and recorded a noncash impairment charge of $145.3, which is reflected on our consolidated income statements within “Goodwill and intangible asset impairment charge.” This charge was not deductible for tax purposes and has been excluded from segment operating income.

LASA includes assets and goodwill associated with operations in Chile and other Latin American countries. We estimated the fair value of LASA based on two valuation approaches, the income approach and the market approach. We reviewed relevant facts and circumstances in determining the weighting of the approaches.

Under the income approach, we estimated the fair value of LASA based on the present value of estimated future cash flows. Cash flow projections were based on management’s estimates of revenue growth rates and EBITDA margins, taking into consideration business and market conditions for the Latin American countries and markets in which we operate. We calculated the discount rate based on a market-participant, risk-adjusted weighted average cost of capital, which considers industry‑specific rates of return on debt and equity capital for a target industry capital structure, adjusted for risks associated with business size and geography.

Under the market approach, we estimated fair value based on market multiples of revenue and earnings derived from publicly-traded industrial gases companies and regional manufacturing companies, adjusted to reflect differences in size and growth prospects.

Management judgment is required in the determination of each assumption utilized in the valuation model, and actual results could differ from our estimates.

Major Accounting Policies (Narrative) (Details) - USD ($)	3 Months Ended								12 Months Ended
	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Accounting Policies [Abstract]
Environmental expenditures									$ 12,800,000	$ 11,400,000	$ 12,200,000
Allowance for doubtful accounts	$ 91,300,000				$ 93,500,000				91,300,000	93,500,000
Provision for doubtful accounts									24,000,000.0	45,800,000	21,800,000
Capitalized interest	19,500,000				19,000,000.0				19,500,000	19,000,000.0	32,700,000
Asset retirement obligations	190,400,000				144,700,000				190,400,000	144,700,000	119,900,000
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, residual value	0								0
Change in Accounting Estimate [Line Items]
Operating income	$ 533,700,000	$ 515,800,000	$ 455,400,000	$ 460,700,000	$ 457,400,000	$ 258,700,000	$ 395,600,000	$ 328,300,000	$ 1,965,600,000	1,440,000,000.0	1,535,100,000
Software and Software Development Costs \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life									3 years
Software and Software Development Costs \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life									5 years
Customer relationships \| Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, useful life									5 years
Customer relationships \| Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, useful life									25 years
Patents and technology \| Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, useful life									5 years
Patents and technology \| Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, useful life									15 years
Land Use Rights
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, useful life									50 years
Contracts accounted for under percentage of completion
Change in Accounting Estimate [Line Items]
Operating income									$ 38,000,000	$ 27,000,000	$ 20,000,000

Share-Based Compensation

12 Months Ended

Sep. 30, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-Based Compensation

SHARE-BASED COMPENSATION

We have various share-based compensation programs, which include deferred stock units, stock options, and restricted stock. Under all programs, the terms of the awards are fixed at the grant date. We issue shares from treasury stock upon the payout of deferred stock units, the exercise of stock options, and the issuance of restricted stock awards. Share information presented is on a total company basis. As of 30 September 2018, there were 4,869,212 shares available for future grant under our Long-Term Incentive Plan (LTIP), which is shareholder approved.

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



	2018			2017			2016
Before-Tax Share-Based Compensation Cost – Total		$38.8			$40.7			$37.6
Before-Tax Share-Based Compensation Cost – Discontinued Operations	—			.8			6.6
Before-Tax Share-Based Compensation Cost – Continuing Operations		$38.8			$39.9			$31.0
Income tax benefit – Continuing Operations	(9.1		)	(14.0		)	(10.8		)
After-Tax Share-Based Compensation Cost – Continuing Operations		$29.7			$25.9			$20.2

Before-tax share-based compensation cost is primarily included in selling and administrative expense on our consolidated income statements. The amount of share-based compensation cost capitalized in fiscal years 2018, 2017, and 2016 was not material.

On a total company basis, before-tax share-based compensation cost by type of program was as follows:



	2018		2017		2016
Deferred stock units		$38.3		$34.5		$29.9
Stock options	.2		1.4		4.2
Restricted stock	.3		4.8		3.5
Before-Tax Share-Based Compensation Cost – Total		$38.8		$40.7		$37.6

Deferred Stock Units

We have 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, for employee recipients, on continued employment during the deferral period and may be conditioned on achieving certain performance targets. We grant deferred stock unit awards with a two- to five-year deferral period that is subject to payout upon death, disability, or retirement. Deferred stock units issued to outside 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). We generally expense the grant-date fair value of these awards on a straight-line basis over the vesting period; however, expense recognition is accelerated for retirement eligible individuals who meet the requirements for vesting upon retirement. We have elected to account for forfeitures as they occur, rather than to estimate them. Forfeitures have not been significant historically.

Market-based deferred stock units vest as long as the employee continues to be employed by the Company and upon the achievement of the performance target. The performance target, which is approved by the Compensation Committee, is the Company’s total shareholder return (share price appreciation and dividends paid) in relation to a defined peer group over a three‑year performance period beginning 1 October of the fiscal year of grant. We granted 105,268, 117,692, and 130,167 market-based deferred stock units in fiscal years 2018, 2017, and 2016, respectively.

The fair value of market-based deferred stock units was estimated using a Monte Carlo simulation model as these equity awards are tied to a market condition. The model utilizes multiple input variables that determine the probability of satisfying the market condition stipulated in the grant and calculates the fair value of the awards. We generally expense the grant-date fair value of these awards on a straight-line basis over the vesting period. The estimated grant-date fair value of market-based deferred stock units was $202.50, $156.87, and $135.49 per unit in fiscal years 2018, 2017, and 2016, respectively. The calculation of the fair value used the following assumptions:



	2018		2017		2016
Expected volatility	18.7	%	20.6	%	20.5	%
Risk-free interest rate	1.9	%	1.4	%	1.2	%
Expected dividend yield	2.6	%	2.5	%	2.2	%

In addition, during fiscal year 2018, we granted 143,379 time-based deferred stock units at a weighted average grant-date fair value of $162.11. In fiscal years 2017 and 2016, we granted 165,121 and 164,711 time-based deferred stock units at a weighted average grant-date fair value of and $143.75 and $128.03, respectively.



Deferred Stock Units	Shares (000)		Weighted Average Grant-Date Fair Value
Outstanding at 30 September 2017	975			$127.29
Granted	249		179.21
Paid out	(237	)	134.99
Forfeited/adjustments	(47	)	153.57
Outstanding at 30 September 2018	940			$137.78

Cash payments made for deferred stock units were $2.2, $2.1, and $2.9 in fiscal years 2018, 2017, and 2016, respectively. As of 30 September 2018, there was $40.5 of unrecognized compensation cost related to deferred stock units. The cost is expected to be recognized over a weighted average period of 1.6 years. The total fair value of deferred stock units paid out during fiscal years 2018, 2017, and 2016, including shares vested in prior periods, was $38.5, $36.6, and $41.6, respectively.

Stock Options

We have granted awards of options to purchase common stock to executives and selected employees. The exercise price of stock options equals the market price of our 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. In fiscal years 2018, 2017, and 2016, no stock options were awarded.

A summary of stock option activity is presented below:



Stock Options	Shares (000)		Weighted Average Exercise Price
Outstanding at 30 September 2017	3,202			$84.85
Exercised	(1,015	)	75.15
Forfeited	(1	)	124.76
Outstanding and Exercisable at 30 September 2018	2,186			$89.33

The aggregate intrinsic value represents the amount by which our closing stock price of $167.05 as of 30 September 2018 exceeds the exercise price multiplied by the number of in-the-money options outstanding or exercisable.

On a total company basis, the intrinsic value of stock options exercised during fiscal years 2018, 2017, and 2016 was $90.4, $57.3, and $115.3, 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 2018, there was no unrecognized compensation cost as all stock option awards were fully vested.

Cash received from option exercises during fiscal year 2018 was $76.2. The total tax benefit realized from stock option exercises in fiscal year 2018 was $25.8, of which $19.0 was the excess tax benefit.

Restricted Stock

The grant-date fair value of restricted stock is estimated on the date of grant based on the closing 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. We have elected to account for forfeitures as they occur, rather than to estimate them. Forfeitures have not been significant historically.

We have issued shares of restricted stock to certain officers. Participants are entitled to cash dividends and to vote their respective shares. Restrictions on shares lift in one to four years or upon the earlier of retirement, death, or disability. The shares are nontransferable while subject to forfeiture.

A summary of restricted stock activity is presented below:



Restricted Stock	Shares (000)		Weighted Average Grant-Date Fair Value
Outstanding at 30 September 2017	56			$135.74
Vested	(14	)	121.90
Outstanding at 30 September 2018	42			$140.28

As of 30 September 2018, there was $.1 of unrecognized compensation cost related to restricted stock awards. The cost is expected to be recognized over a weighted average period of 0.5 years. The total fair value of restricted stock vested during fiscal years 2018, 2017, and 2016 was $2.2, $4.1, and $4.3, respectively.

As discussed in Note 3, Discontinued Operations, Air Products completed the spin-off of Versum on 1 October 2016. In connection with the spin-off, the Company adjusted the number of deferred stock units and stock options pursuant to existing anti-dilution provisions in the LTIP to preserve the intrinsic value of the awards immediately before and after the separation. The outstanding awards will continue to vest over the original vesting period defined at the grant date. Outstanding awards at the time of spin-off were primarily converted into awards of the holders' employer following the separation.

Stock awards held upon separation were adjusted based upon the conversion ratio of Air Products' New York Stock Exchange (“NYSE”) volume weighted-average closing stock price on 30 September 2016 ($150.35) to the NYSE volume weighted-average opening stock price on 3 October 2016 ($140.38), or 1.071. The adjustment to the awards did not result in incremental fair value, and no incremental compensation expense was recorded related to the conversion of these awards.

Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended								12 Months Ended
	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Statement of Stockholders' Equity [Abstract]
Dividends per share	$ 1.10	$ 1.10	$ 1.10	$ 0.95	$ 0.95	$ 0.95	$ 0.95	$ 0.86	$ 4.25	$ 3.71	$ 3.39

Retirement Benefits (Changes Recognized in Other Comprehensive Income on Pretax Basis) (Details) - Defined Benefit Pension Plan - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
U.S.
Defined Benefit Plan Disclosure [Line Items]
Net actuarial gain arising during the period	$ (167.7)	$ (189.8)
Amortization of net actuarial loss	(132.4)	(103.3)
Prior service cost arising during the period	0.1	1.9
Amortization of prior service cost	(1.6)	(2.3)
Total	(301.6)	(293.5)
International
Defined Benefit Plan Disclosure [Line Items]
Net actuarial gain arising during the period	(64.6)	(162.0)
Amortization of net actuarial loss	(43.7)	(55.7)
Prior service cost arising during the period	0.7	0.0
Amortization of prior service cost	0.0	0.1
Total	$ (107.6)	$ (217.6)

New Accounting Guidance

12 Months Ended

Sep. 30, 2018

New Accounting Pronouncements and Changes in Accounting Principles [Abstract]

New Accounting Guidance

NEW ACCOUNTING GUIDANCE

Accounting Guidance Implemented in Fiscal Year 2018

Disclosure Simplification

In August 2018, the SEC issued a final rule on disclosure update and simplification, amending certain disclosure requirements that were redundant, duplicative, overlapping, outdated or superseded. This rule was effective on 5 November 2018. We adopted the amended guidance, which reduced or eliminated certain annual disclosure requirements outside the consolidated financial statements, including the elimination of the ratio of earnings to fixed charges previously filed under Exhibit 12. However, the amendments expanded interim disclosure requirements that will be adopted in our Form 10-Q for our first fiscal quarter ended 31 December 2018, including those related to the analysis of shareholders' equity.

Income Taxes

In March 2018, the Financial Accounting Standards Board (FASB) issued an update for Staff Accounting Bulletin (SAB) No. 118 issued by the SEC in December 2017 related to the U.S. Tax Cuts and Jobs Act (“the Tax Act"). We adopted the SEC guidance under SAB No. 118 in the first quarter of fiscal year 2018. We continue to report the impacts of the Tax Act as provisional based on reasonable estimates as of 30 September 2018. We are continuing to gather additional information and expect to complete our accounting by the first quarter of fiscal year 2019, within the prescribed one-year measurement period. For additional details, see Note 22, Income Taxes.

Presentation of Net Periodic Pension and Postretirement Benefit Cost

In March 2017, the FASB issued guidance for improving the presentation of net periodic pension cost and net periodic postretirement benefit cost. The amendments require the service cost component of net periodic benefit cost to be presented in the same operating income line items as other compensation costs arising from services rendered by employees during the period. The non-service costs (e.g., interest cost, expected return on plan assets, amortization of actuarial gains/losses, settlements) should be presented in the consolidated income statements outside of operating income. The amendments also allow only the service cost component to be eligible for capitalization when applicable. We early adopted this guidance during the first quarter of fiscal year 2018. The amendments have been applied retrospectively for the income statement presentation requirements and prospectively for the limit on costs eligible for capitalization. We applied the practical expedient to use the amounts disclosed in our retirement benefits note for the prior comparative periods as the estimation basis for applying the retrospective presentation requirements.

Prior to adoption of the guidance, we classified all net periodic benefit costs within operating costs, primarily within "Cost of sales" and "Selling and administrative" on the consolidated income statements. The line item classification changes required by the new guidance did not impact our pre-tax earnings or net income; however, "Operating income" and "Other non-operating income (expense), net" changed by immaterial offsetting amounts.

Derivative Contract Novations

In March 2016, the FASB issued guidance to clarify that a change in the counterparty to a derivative instrument that has been designated as a hedging instrument does not, in and of itself, require re-designation of that hedging relationship provided that all other hedge accounting criteria continue to be met. We adopted this guidance in the first quarter of fiscal year 2018. This guidance did not have an impact on our consolidated financial statements upon adoption.

New Accounting Guidance to be Implemented

Revenue Recognition

In May 2014, the FASB issued guidance based on the principle that revenue is recognized in an amount expected to be collected and to which the entity expects to be entitled in exchange for the transfer of goods or services. We will adopt this guidance in fiscal year 2019 under the modified retrospective approach. Upon adoption, we will no longer present "Contracts in progress, less progress billings" on our consolidated balance sheets and will have expanded disclosure requirements. Otherwise, we do not expect adoption of this guidance to have a material impact on our consolidated financial statements.

The expected balance sheet impacts of no longer presenting "Contracts in progress, less progress billings" are summarized below:



	30 September 2018		New Revenue Standard Adjustments			1 October 2018
Assets
Current Assets
Cash and cash items		$2,791.3		$—			$2,791.3
Short-term investments	184.7		—			184.7
Trade receivables, net	1,207.2		—			1,207.2
Inventories	396.1		—			396.1
Contracts in progress, less progress billings	77.5		(77.5		)	—
Prepaid expenses	129.6		—			129.6
Other receivables and current assets	295.8		103.7			399.5
Total Current Assets	5,082.2		26.2			5,108.4
Total Noncurrent Assets	14,096.1		—			14,096.1
Total Assets		$19,178.3		$26.2			$19,204.5
Liabilities and Equity
Current Liabilities
Payables and accrued liabilities		$1,817.8		$26.2			$1,844.0
Accrued income taxes	59.6		—			59.6
Short-term borrowings	54.3		—			54.3
Current portion of long-term debt	406.6		—			406.6
Total Current Liabilities	2,338.3		26.2			2,364.5
Total Noncurrent Liabilities	5,663.7		—			5,663.7
Total Liabilities	8,002.0		26.2			8,028.2
Total Equity	11,176.3		—			11,176.3
Total Liabilities and Equity		$19,178.3		$26.2			$19,204.5

Our expanded disclosure requirements will include the disaggregation of revenue and disclosure of the fixed transaction price allocated to remaining performance obligations. We intend to disaggregate our revenue by supply mode. Our fixed transaction price allocated to remaining performance obligations will primarily relate to our onsite gases business.

Leases

In February 2016, the FASB issued guidance that requires lessees to recognize a right-of-use asset and lease liability on the balance sheet for all leases, including operating leases, with a term in excess of 12 months. The guidance also expands the quantitative and qualitative disclosure requirements. The guidance is effective in fiscal year 2020, with early adoption permitted. The guidance must be applied using a modified retrospective approach with the option to apply either at the adoption date or at the earliest comparative period presented in the consolidated financial statements.

The Company is the lessee under various agreements for real estate, distribution equipment, aircraft, and vehicles that are currently accounted for as operating leases. The new guidance will require the Company to record all leases, including operating leases, on the balance sheet with a right-of-use asset and corresponding liability for future payment obligations.

We will adopt this guidance in fiscal year 2020 and are currently evaluating the impact it will have on our consolidated financial statements, including the assessment of our current lease population under the revised definition of what qualifies as a leased asset. In addition, we are implementing a new application to administer the accounting and disclosure requirements under the new guidance.

Credit Losses on Financial Instruments

In June 2016, the FASB issued guidance on the measurement of credit losses, which requires measurement and recognition of expected credit losses for financial assets, including trade receivables and capital lease receivables, held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. The method to determine a loss is different from the existing guidance, which requires a credit loss to be recognized when it is probable. The guidance is effective beginning in fiscal year 2021, with early adoption permitted beginning in fiscal year 2020. We are currently evaluating the impact this guidance will have on our consolidated financial statements.

Cash Flow Statement Classification

In August 2016, the FASB issued guidance to reduce diversity in practice on how certain cash receipts and cash payments are classified in the statement of cash flows. The guidance is effective beginning in fiscal year 2019, with early adoption permitted, and should be applied retrospectively. We plan to adopt this guidance in fiscal year 2019 and do not expect adoption to have a significant impact on our consolidated financial statements.

Intra-Entity Asset Transfers

In October 2016, the FASB issued guidance on accounting for the income tax effects of intra-entity transfers of assets other than inventory. Current guidance prohibits the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party. Under the new guidance, the income tax consequences of an intra-entity asset transfer are recognized when the transfer occurs. The guidance is effective beginning in fiscal year 2019, with early adoption permitted as of the beginning of an annual reporting period. The guidance must be applied on a modified retrospective basis through a cumulative-effect adjustment to retained earnings as of the date of adoption. We will adopt the guidance in fiscal year 2019 and do not expect adoption of this guidance to have a significant impact on our consolidated financial statements.

Derecognition of Nonfinancial Assets

In February 2017, the FASB issued an update to clarify the scope of guidance on gains and losses from the derecognition of nonfinancial assets and to add guidance for partial sales of nonfinancial assets. We will adopt this guidance in fiscal year 2019 under the modified retrospective approach. We do not expect this update to have a significant impact on our consolidated financial statements.

Hedging Activities

In August 2017, the FASB issued guidance on hedging activities to expand the related presentation and disclosure requirements, change how companies assess effectiveness, and eliminate the separate measurement and reporting of hedge ineffectiveness. The guidance also enables more financial and nonfinancial hedging strategies to become eligible for hedge accounting. The guidance is effective in fiscal year 2020, with early adoption permitted. For cash flow and net investment hedges existing at the date of adoption, an entity should apply a cumulative-effect adjustment to eliminate the separate measurement of ineffectiveness within equity as of the beginning of the fiscal year the guidance is adopted. The amended presentation and disclosure guidance is applied prospectively. We are currently evaluating the impact this guidance will have on our consolidated financial statements.

Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income

In February 2018, the FASB issued guidance allowing a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Act. The guidance is effective in fiscal year 2020, with early adoption permitted, including adoption in any interim period. If elected, the reclassification can be applied in either the period of adoption or retrospectively to the period of the Tax Act's enactment (i.e., our first quarter of fiscal year 2018). We are currently evaluating the adoption alternatives and the impact this guidance will have on our consolidated financial statements.

Fair Value Measurement Disclosures

In August 2018, the FASB issued guidance which modifies the disclosure requirements for fair value measurements. The guidance is effective in fiscal year 2021, with early adoption permitted. Certain amendments must be applied prospectively and other amendments retrospectively. We are currently evaluating the impact this guidance will have on the disclosures in the notes to our consolidated financial statements.

Retirement Benefit Disclosures

In August 2018, the FASB issued guidance which modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The guidance is effective in fiscal year 2021, with early adoption permitted, and must be applied on a retrospective basis. We are currently evaluating the impact this guidance will have on the disclosures in the notes to our consolidated financial statements.

Cloud Computing Implementation Costs

In August 2018, the FASB issued guidance which aligns the capitalization requirements for implementation costs incurred in a hosting arrangement that is a service contract with the existing capitalization requirements for implementation costs incurred to develop or obtain internal-use software. The guidance is effective in fiscal year 2021, with early adoption permitted, and may be applied either prospectively or retrospectively. We are currently evaluating the impact this guidance will have on our consolidated financial statements.

Related Party Guidance for Variable Interest Entities

In October 2018, the FASB issued an update which amends the guidance for determining whether a decision-making fee is a variable interest. The amendments require consideration of indirect interests held through related parties under common control on a proportional basis rather than as the equivalent of a direct interest in its entirety as currently required. The guidance is effective in fiscal year 2021, with early adoption permitted. The amendments must be applied retrospectively with a cumulative-effect adjustment to retained earnings at the beginning of the earliest period presented. We are currently evaluating the impact this guidance will have on our consolidated financial statements.

Business Segment and Geographic Information (Tables)

12 Months Ended

Sep. 30, 2018

Segment Reporting [Abstract]

Schedule of Segment Reporting Information by Segment

Business Segment



	Industrial Gases– Americas		Industrial Gases– EMEA		Industrial Gases– Asia		Industrial Gases– Global			Corporate and other			Segment Total
2018
Sales		$3,758.8		$2,193.3		$2,458.0		$436.1			$84.0			$8,930.2
Operating income (loss)	927.9		445.8		689.9		53.9			(176.0		)	1,941.5
Depreciation and amortization	485.3		198.6		265.8		8.1			12.9			970.7
Equity affiliates' income	82.0		61.1		58.3		1.9			—			203.3
Expenditures for long-lived assets	546.5		163.1		791.9		17.3			49.6			1,568.4
Investments in net assets of and advances to equity affiliates	312.1		503.3		445.6		16.2			—			1,277.2
Total assets	5,904.0		3,280.4		5,899.5		240.1			3,854.3			19,178.3
2017
Sales		$3,637.0		$1,780.4		$1,964.7		$722.9			$82.6			$8,187.6
Operating income (loss)	946.1		395.5		532.6		71.1			(171.5		)	1,773.8
Depreciation and amortization	464.4		177.1		203.2		8.9			12.2			865.8
Equity affiliates' income	58.1		47.1		53.5		.9			—			159.6
Expenditures for long-lived assets	427.2		143.2		337.8		25.6			105.9			1,039.7
Investments in net assets of and advances to equity affiliates	287.5		508.6		471.8		19.0			—			1,286.9
Total assets	5,840.8		3,276.1		4,412.1		279.6			4,648.4			18,457.0
2016
Sales		$3,344.1		$1,704.4		$1,720.4		$498.8			$236.0			$7,503.7
Operating income (loss)	891.3		387.0		452.8		(21.5		)	(89.4		)	1,620.2
Depreciation and amortization	443.6		185.7		197.9		7.9			19.5			854.6
Equity affiliates' income	52.7		36.5		57.8		—			—			147.0
Expenditures for long-lived assets	406.6		159.5		313.3		6.0			22.3			907.7
Investments in net assets of and advances to equity affiliates	250.6		580.5		442.5		10.0			—			1,283.6
Total assets	5,896.7		3,178.6		4,232.7		367.6			2,384.5			16,060.1

Reconciliation of Segments to Consolidated Operating Income

Below is a reconciliation of segment total operating income to consolidated operating income:



Operating Income	2018		2017			2016
Segment total		$1,941.5		$1,773.8			$1,620.2
Change in inventory valuation method	24.1		—			—
Business separation costs	—		(32.5		)	(50.6		)
Cost reduction and asset actions	—		(151.4		)	(34.5		)
Goodwill and intangible asset impairment charge	—		(162.1		)	—
Gain on land sale	—		12.2			—
Consolidated Total		$1,965.6		$1,440.0			$1,535.1

Reconciliation of Segments to Consolidated Equity Affiliates' Income

Below is a reconciliation of segment total equity affiliates' income to consolidated equity affiliates' income:



Equity Affiliates' Income	2018			2017			2016
Segment total		$203.3			$159.6			$147.0
Equity method investment impairment charge	—			(79.5		)	—
Tax reform repatriation - equity method investment	(28.5		)	—			—
Consolidated Total		$174.8			$80.1			$147.0

Reconciliation of Segments to Consolidated Total Assets

Below is a reconciliation of segment total assets to consolidated total assets:



Total Assets	2018		2017		2016
Segment total		$19,178.3		$18,457.0		$16,060.1
Discontinued operations	—		10.2		1,968.5
Consolidated Total		$19,178.3		$18,467.2		$18,028.6

Schedule of Revenue and Long-Lived Assets by Geographical Areas

Geographic Information



Sales to External Customers	2018		2017		2016
United States		$3,149.6		$2,886.8		$2,911.7
Europe, including Middle East	2,292.5		2,478.5		2,186.5
Asia, excluding China and India	904.0		849.6		721.4
China	1,585.7		1,143.4		1,020.4
Other^(A)	998.4		829.3		663.7
Total		$8,930.2		$8,187.6		$7,503.7
Long-Lived Assets^(B)	2018		2017		2016
United States		$3,512.7		$3,407.4		$3,411.4
Europe, including Middle East	1,283.3		1,279.0		1,292.5
Asia, excluding China and India	899.8		778.5		707.0
China	3,066.6		1,737.9		1,675.8
Other^(A)	1,161.3		1,237.4		1,173.0
Total		$9,923.7		$8,440.2		$8,259.7


^(A)	Includes Canada, Latin America, and India.

^(B)

Long-lived assets include plant and equipment, net.

Fair Value Measurements (Schedule of the Carrying Values and Fair Values of Financial Instruments) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current portion carrying value	$ 3,758.3	$ 3,818.8
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current portion fair value	3,788.2	3,928.2
Forward Exchange Contracts \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	68.8	109.9
Derivative liabilities	80.2	98.0
Forward Exchange Contracts \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	68.8	109.9
Derivative liabilities	80.2	98.0
Interest Rate Management Contracts \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	77.3	117.9
Derivative liabilities	13.9	33.9
Interest Rate Management Contracts \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	77.3	117.9
Derivative liabilities	$ 13.9	$ 33.9

Leases (Tables)

12 Months Ended

Sep. 30, 2018

Leases [Abstract]

Schedule of Future Minimum Lease Payments for Lessee Capital Leases

At 30 September 2018, minimum payments due under leases associated with continuing operations are as follows:



	Capital Leases		Operating Leases
2019		$1.7		$65.9
2020	1.4		50.4
2021	2.9		41.4
2022	1.3		30.4
2023	1.2		23.3
Thereafter	14.3		123.0
Total		$22.8		$334.4

Schedule of Future Minimum Rental Payments for Lessee Operating Leases

At 30 September 2018, minimum payments due under leases associated with continuing operations are as follows:



	Capital Leases		Operating Leases
2019		$1.7		$65.9
2020	1.4		50.4
2021	2.9		41.4
2022	1.3		30.4
2023	1.2		23.3
Thereafter	14.3		123.0
Total		$22.8		$334.4

Schedule of Minimum Lease Payments to be Collected for Lessor Operating Leases

At 30 September 2018, minimum lease payments expected to be collected are as follows:



2019		$261.5
2020	259.1
2021	255.8
2022	251.5
2023	244.9
Thereafter	2,904.8
Total		$4,177.6

Schedule of Minimum Lease Payments to be Collected Lessor Capital Leases

At 30 September 2018, minimum lease payments expected to be collected are as follows:



2019		$172.5
2020	167.8
2021	161.9
2022	150.6
2023	144.3
Thereafter	876.6
Total		$1,673.7

The components of lease receivables were as follows:



30 September	2018			2017
Gross minimum lease payments receivable		$1,673.7			$1,897.0
Unearned interest income	(568.3		)	(671.9		)
Lease Receivables, net		$1,105.4			$1,225.1

Share-Based Compensation (Market-Based Deferred Stock Unit Valuation Assumptions) (Details) - Market-Based Deferred Stock Unit	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	18.70%	20.60%	20.50%
Risk-free interest rate	1.90%	1.40%	1.20%
Expected dividend yield	2.60%	2.50%	2.20%

Accumulated Other Comprehensive Loss

12 Months Ended

Sep. 30, 2018

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Loss

ACCUMULATED OTHER COMPREHENSIVE LOSS

The table below summarizes changes in AOCL, net of tax, attributable to Air Products:



	Derivatives qualifying as hedges			Foreign currency translation adjustments			Pension and postretirement benefits			Total
Balance at 30 September 2015		($42.9	)		($956.5	)		($1,126.5	)		($2,125.9	)
Other comprehensive income (loss) before reclassifications	13.7			9.9			(335.1		)	(311.5		)
Amounts reclassified from AOCL	(36.0		)	2.7			87.2			53.9
Net current period other comprehensive income (loss)		($22.3	)		$12.6			($247.9	)		($257.6	)
Amount attributable to noncontrolling interest	(.2		)	5.4			(.4		)	4.8
Balance at 30 September 2016		($65.0	)		($949.3	)		($1,374.0	)		($2,388.3	)
Other comprehensive income (loss) before reclassifications	(12.6		)	101.9			251.6			340.9
Amounts reclassified from AOCL	24.2			57.3			110.7			192.2
Net current period other comprehensive income		$11.6			$159.2			$362.3			$533.1
Spin-off of Versum	.2			6.0			5.3			11.5
Amount attributable to noncontrolling interest	(.1		)	3.0			.8			3.7
Balance at 30 September 2017		($53.1	)		($787.1	)		($1,007.2	)		($1,847.4	)
Other comprehensive income (loss) before reclassifications	45.9			(244.6		)	179.4			(19.3		)
Amounts reclassified from AOCL	(30.4		)	3.1			133.1			105.8
Net current period other comprehensive income (loss)		$15.5			($241.5	)		$312.5			$86.5
Amount attributable to noncontrolling interest	—			(18.8		)	(.2		)	(19.0		)
Balance at 30 September 2018		($37.6	)		($1,009.8	)		($694.5	)		($1,741.9	)

The table below summarizes the reclassifications out of accumulated other comprehensive loss and the affected line item on the consolidated income statements:



	2018			2017		2016
(Gain) Loss on Cash Flow Hedges, net of tax
Sales/Cost of sales		$7.1			$18.3		$.2
Other income (expense), net	(42.6		)	5.1		(46.2		)
Interest expense	5.1			.8		10.0
Total (Gain) Loss on Cash Flow Hedges, net of tax		($30.4	)		$24.2		($36.0	)

Currency Translation Adjustment
Cost of sales^(A)		$3.1			$—		$—
Cost reduction and assets actions^(B)	—			8.2		—
Loss from discontinued operations, net of tax^(C)	—			49.1		2.7
Total Currency Translation Adjustment		$3.1			$57.3		$2.7

Pension and Postretirement Benefits, net of tax^(D)		$133.1			$110.7		$87.2


^(A)	The fiscal year 2018 impact relates to an equipment sale resulting from the termination of a contract in the Industrial Gases – Asia segment during the first quarter.


^(B)	The fiscal year 2017 impact relates to the planned sale of a non-industrial gas hardgoods business in the Industrial Gases – Americas segment recorded in the third quarter.


^(C)	The fiscal year 2017 impact relates to the sale of PMD during the second quarter. The fiscal year 2016 impact primarily relates to the sale of an equity affiliate in the first quarter.

^(D)

Retirement Benefits (Change in Plan Assets) (Details) - Defined Benefit Pension Plan - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Company contributions	$ 68.3
U.S.
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value at beginning of year	2,869.2	$ 2,705.3
Actual return on plan assets	150.2	319.6
Company contributions	14.6	27.2
Participant contributions	0.0	0.0
Divestitures	0.0	0.0
Benefits paid	(157.3)	(182.9)
Settlements	(191.8)	0.0
Currency translation/other	0.0	0.0
Fair value at end of year	2,684.9	2,869.2
Funded status at end of year	(237.9)	(488.5)
International
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value at beginning of year	1,540.0	1,411.1
Actual return on plan assets	115.5	87.9
Company contributions	53.7	42.2
Participant contributions	1.4	1.4
Divestitures	0.0	(3.0)
Benefits paid	(51.3)	(46.5)
Settlements	(24.6)	(5.3)
Currency translation/other	(46.5)	52.2
Fair value at end of year	1,588.2	1,540.0
Funded status at end of year	$ (72.3)	$ (209.5)

Income Taxes (Summary of Income Tax Examinations) (Details)	12 Months Ended
	Sep. 30, 2018
Domestic \| United States \| Minimum
Income Tax Examination [Line Items]
Open tax year subject to examination	2015
Domestic \| United States \| Maximum
Income Tax Examination [Line Items]
Open tax year subject to examination	2018
State \| United States - All States \| Minimum
Income Tax Examination [Line Items]
Open tax year subject to examination	2011
State \| United States - All States \| Maximum
Income Tax Examination [Line Items]
Open tax year subject to examination	2018
Foreign \| Canada \| Minimum
Income Tax Examination [Line Items]
Open tax year subject to examination	2014
Foreign \| Canada \| Maximum
Income Tax Examination [Line Items]
Open tax year subject to examination	2018
Foreign \| France \| Minimum
Income Tax Examination [Line Items]
Open tax year subject to examination	2015
Foreign \| France \| Maximum
Income Tax Examination [Line Items]
Open tax year subject to examination	2018
Foreign \| Germany \| Minimum
Income Tax Examination [Line Items]
Open tax year subject to examination	2013
Foreign \| Germany \| Maximum
Income Tax Examination [Line Items]
Open tax year subject to examination	2018
Foreign \| Netherlands \| Minimum
Income Tax Examination [Line Items]
Open tax year subject to examination	2012
Foreign \| Netherlands \| Maximum
Income Tax Examination [Line Items]
Open tax year subject to examination	2018
Foreign \| Spain \| Minimum
Income Tax Examination [Line Items]
Open tax year subject to examination	2015
Foreign \| Spain \| Maximum
Income Tax Examination [Line Items]
Open tax year subject to examination	2018
Foreign \| United Kingdom \| Minimum
Income Tax Examination [Line Items]
Open tax year subject to examination	2014
Foreign \| United Kingdom \| Maximum
Income Tax Examination [Line Items]
Open tax year subject to examination	2018
Foreign \| China \| Minimum
Income Tax Examination [Line Items]
Open tax year subject to examination	2013
Foreign \| China \| Maximum
Income Tax Examination [Line Items]
Open tax year subject to examination	2018
Foreign \| South Korea \| Minimum
Income Tax Examination [Line Items]
Open tax year subject to examination	2010
Foreign \| South Korea \| Maximum
Income Tax Examination [Line Items]
Open tax year subject to examination	2018
Foreign \| Taiwan \| Minimum
Income Tax Examination [Line Items]
Open tax year subject to examination	2013
Foreign \| Taiwan \| Maximum
Income Tax Examination [Line Items]
Open tax year subject to examination	2018
Foreign \| Chile \| Minimum
Income Tax Examination [Line Items]
Open tax year subject to examination	2015
Foreign \| Chile \| Maximum
Income Tax Examination [Line Items]
Open tax year subject to examination	2018

Income Taxes (Effective Tax Rate Reconciliation) (Details)	3 Months Ended	9 Months Ended	12 Months Ended
	Dec. 31, 2017	Sep. 30, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Income Tax Disclosure [Abstract]
U.S. federal statutory tax rate	35.00%	21.00%	24.50%	35.00%	35.00%
State taxes, net of federal benefit			1.00%	1.00%	1.20%
Income from equity affiliates			(2.10%)	(2.00%)	(3.30%)
Foreign tax differentials			(1.00%)	(7.90%)	(6.60%)
Tax on foreign repatriated earnings			(0.40%)	(2.20%)	(3.10%)
Domestic production activities			(0.40%)	(0.80%)	(0.80%)
Share-based compensation			(1.00%)	(1.20%)	0.00%
Tax reform repatriation			0.195	0	0
Tax reform rate change and other			(11.10%)	0.00%	0.00%
Tax restructuring benefit			(0.018)	0	0
Non-deductible goodwill impairment charge			0.00%	3.60%	0.00%
Non-U.S. subsidiary tax election			0.00%	(7.70%)	0.00%
Business separation costs			0.00%	0.20%	4.20%
Other			(1.20%)	0.40%	1.20%
Effective Tax Rate			26.00%	18.40%	27.80%

Share-Based Compensation (Summary of Stock Option Contract Term and Intrinsic Value) (Details) $ in Thousands	12 Months Ended
	Sep. 30, 2018 USD ($)
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Weighted Average Remaining Contractual Terms, Outstanding	3 years 10 months 24 days
Aggregated Intrinsic Value, Outstanding	$ 170,000
Weighted Average Remaining Contractual Terms, Exercisable	3 years 11 months
Aggregated Intrinsic Value, Exercisable	$ 169,867

Supplemental Information (Tables)

12 Months Ended

Sep. 30, 2018

Schedule of Other Receivables and Current Assets



Other Receivables and Current Assets 30 September	2018		2017
Derivative instruments		$61.1		$93.9
Other receivables	139.0		188.0
Current capital lease receivables	92.1		93.3
Other	3.6		28.1
Other receivables and current assets		$295.8		$403.3

Schedule of Other Noncurrent Assets



Other Noncurrent Assets 30 September	2018		2017
Derivative instruments		$85.0		$133.9
Noncurrent customer receivable	92.4		62.6
Prepaid tax	13.2		5.1
Deferred tax assets	121.4		174.5
Pension benefits	131.7		18.4
Deposits	—		34.8
Other	210.8		212.5
Other noncurrent assets		$654.5		$641.8

Schedule of Payables and Accrued Liabilities



Payables and Accrued Liabilities 30 September	2018		2017
Trade creditors		$594.6		$659.5
Payables associated with Lu'An	330.0		—
Customer advances	156.6		438.9
Accrued payroll and employee benefits	201.4		187.1
Pension and postretirement benefits	34.1		22.6
Dividends payable	241.5		207.5
Outstanding payments in excess of certain cash balances	9.1		4.5
Accrued interest expense	49.5		42.2
Derivative instruments	54.2		95.9
Severance and other costs associated with cost reduction actions	9.9		41.5
Other	136.9		114.6
Payables and accrued liabilities		$1,817.8		$1,814.3

Schedule of Other Noncurrent Liabilities



Other Noncurrent Liabilities 30 September	2018		2017
Pension benefits		$417.2		$703.8
Postretirement benefits	47.0		57.0
Other employee benefits	94.4		99.3
Noncurrent customer liability	92.4		62.6
Long-term accrued income taxes related to U.S. tax reform	184.4		—
Contingencies related to uncertain tax positions	113.2		130.6
Advance payments	58.2		39.0
Environmental liabilities	64.6		72.3
Derivative instruments	39.9		36.0
Asset retirement obligations	189.5		144.0
Obligation for future contribution to an equity affiliate	94.4		94.4
Obligations associated with EfW	63.3		65.3
Other	78.4		107.6
Other noncurrent liabilities		$1,536.9		$1,611.9

Schedule of Other Income (Expense), Net



Other Income (Expense), Net 30 September	2018			2017		2016
Technology and royalty income^(A)		$22.8			$20.8		$19.0
Interest income^(B)	—			1.5		6.1
Foreign exchange	(3.9		)	4.3		(7.2		)
Sale of assets and investments^(C)	6.9			24.3		8.8
Contract settlements	2.9			14.3		12.6
Transition service agreements reimbursement^(D)	12.7			38.4		—
Other	8.8			17.4		10.1
Other income (expense), net		$50.2			$121.0		$49.4


^(A)	Primarily includes related party activity with our equity affiliates.


^(B)	Beginning in the second quarter of fiscal year 2017, interest income associated with our cash and cash items and short-term investments is reflected on the consolidated income statements in "Other non-operating income (expense), net."


^(C)	Includes a gain of $12.2 resulting from the sale of a parcel of land during the fourth quarter of fiscal year 2017.

^(D)

Reflects reimbursement for costs in support of transition services agreements with Versum for EMD and with Evonik for PMD. Refer to Note 4, Materials Technologies Separation, for additional information.

Schedule of Other Non-Operating Income (Expense), Net



Other Non-Operating Income (Expense), Net 30 September	2018			2017			2016
Interest income^(A)		$46.3			$29.8			$—
Pension settlement loss^(B)	(48.5		)	(10.5		)	(5.1		)
Other non-service pension benefit (costs)	7.7			(1.9		)	(.3		)
Other	(.4		)	(.8		)	—
Other non-operating income (expense), net		$5.1			$16.6			($5.4	)


^(A)	Prior to the second quarter of fiscal year 2017, interest income associated with our cash and cash items and short-term investments was reflected on the consolidated income statements in "Other income (expense), net."

^(B)

Fiscal year 2018 includes a loss of $43.7 that primarily resulted from the transfer of certain pension payment obligations to an insurer through the purchase of an irrevocable, nonparticipating group annuity contract during the fourth quarter.

Capital Stock

12 Months Ended

Sep. 30, 2018

Equity [Abstract]

Capital Stock

CAPITAL STOCK

Common Stock

Authorized common stock consists of 300 million shares with a par value of $1 per share. As of 30 September 2018, 249 million shares were issued, with 220 million outstanding.

On 15 September 2011, the Board of Directors authorized the repurchase of up to $1.0 billion of our outstanding common stock. We repurchase shares pursuant to Rules 10b5-1 and 10b-18 under the Securities Exchange Act of 1934, as amended, through repurchase agreements established with several brokers. We did not purchase any of our outstanding shares during fiscal year 2018. At 30 September 2018, $485.3 in share repurchase authorization remains.

The following table reflects the changes in common shares:



Year ended 30 September	2018	2017	2016
Number of Common Shares Outstanding
Balance, beginning of year	218,346,074	217,350,825	215,359,113
Issuance of treasury shares for stock option and award plans	1,169,171	995,249	1,991,712
Balance, end of year	219,515,245	218,346,074	217,350,825

Preferred Stock

Authorized preferred stock consists of 25 million shares with a par value of $1 per share, of which 2.5 million were designated as Series A Junior Participating Preferred Stock. There were no shares issued or outstanding as of 30 September 2018 and 2017.

Debt (Narrative) (Details) - USD ($)		1 Months Ended	12 Months Ended
Debt (Narrative) (Details) - USD ($)	Mar. 31, 2017	Sep. 30, 2016	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016	Oct. 01, 2018	Sep. 27, 2018
Debt Disclosure [Abstract]
Short-term debt, weighted average interest rate			5.00%	4.60%
Cash paid for interest, net of amounts capitalized			$ 123,100,000	$ 125,900,000	$ 120,600,000
Debt Instrument [Line Items]
Short-term borrowings			54,300,000	144,000,000.0		$ 54,300,000
Loss on extinguishment of debt			0	0	6,900,000
Versum Financing
Debt Instrument [Line Items]
Loss on extinguishment of debt		$ 6,900,000			$ 6,900,000
Foreign Line of Credit \| Foreign Subsidiary Facility
Debt Instrument [Line Items]
Credit facility, amount borrowed and outstanding			7,000,000.0
Revolving Credit Facility \| 2018 Credit Agreement
Debt Instrument [Line Items]
Credit facility, amount borrowed and outstanding			$ 0
Debt instrument, term	5 years
Revolving Credit Facility \| 2018 Credit Agreement \| Maximum
Debt Instrument [Line Items]
Covenant, ratio of total debt to total capitalization			70.00%
Revolving Credit Facility \| 2017 Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 2,300,000,000.0				$ 2,500,000,000.0
Bank obligations
Debt Instrument [Line Items]
Short-term borrowings			$ 54,300,000	$ 144,000,000.0

Share-Based Compensation (Total Before-Tax Share-Based Compensation Cost by Type of Program) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Before-Tax Share-Based Compensation	$ 38.8	$ 40.7	$ 37.6
Deferred Stock Units
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Before-Tax Share-Based Compensation	38.3	34.5	29.9
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Before-Tax Share-Based Compensation	0.2	1.4	4.2
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Before-Tax Share-Based Compensation	$ 0.3	$ 4.8	$ 3.5

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2018	Sep. 30, 2017
Air Products Shareholders’ Equity
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares issued	249,455,584	249,455,584
Treasury stock, shares	29,940,339	31,109,510

Accumulated Other Comprehensive Loss (Rollforward) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 10,185.5	$ 7,213.4	$ 7,381.1
Other comprehensive income (loss) before reclassifications	(19.3)	340.9	(311.5)
Amounts reclassified from AOCL	105.8	192.2	53.9
Total Other Comprehensive Income (Loss)	86.5	533.1	(257.6)
Spin-off of Versum		11.5
Amount attributable to noncontrolling interest	(19.0)	3.7	4.8
Ending Balance	11,176.3	10,185.5	7,213.4
Derivatives qualifying as hedges
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(53.1)	(65.0)	(42.9)
Other comprehensive income (loss) before reclassifications	45.9	(12.6)	13.7
Amounts reclassified from AOCL	(30.4)	24.2	(36.0)
Total Other Comprehensive Income (Loss)	15.5	11.6	(22.3)
Spin-off of Versum		0.2
Amount attributable to noncontrolling interest	0.0	(0.1)	(0.2)
Ending Balance	(37.6)	(53.1)	(65.0)
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(787.1)	(949.3)	(956.5)
Other comprehensive income (loss) before reclassifications	(244.6)	101.9	9.9
Amounts reclassified from AOCL	3.1	57.3	2.7
Total Other Comprehensive Income (Loss)	(241.5)	159.2	12.6
Spin-off of Versum		6.0
Amount attributable to noncontrolling interest	(18.8)	3.0	5.4
Ending Balance	(1,009.8)	(787.1)	(949.3)
Pension and postretirement benefits
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(1,007.2)	(1,374.0)	(1,126.5)
Other comprehensive income (loss) before reclassifications	179.4	251.6	(335.1)
Amounts reclassified from AOCL	133.1	110.7	87.2
Total Other Comprehensive Income (Loss)	312.5	362.3	(247.9)
Spin-off of Versum		5.3
Amount attributable to noncontrolling interest	(0.2)	0.8	(0.4)
Ending Balance	(694.5)	(1,007.2)	(1,374.0)
AOCL attributable to Air Products
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(1,847.4)	(2,388.3)	(2,125.9)
Total Other Comprehensive Income (Loss)	105.5	529.4	(262.4)
Ending Balance	$ (1,741.9)	$ (1,847.4)	$ (2,388.3)

Inventories (Tables)

12 Months Ended

Sep. 30, 2018

Inventory Disclosure [Abstract]

Schedule of Components of Inventories

The components of inventories are as follows:



30 September	2018		2017
Finished goods		$125.4		$120.0
Work in process	21.2		15.7
Raw materials, supplies and other	249.5		223.0
Total FIFO Cost	396.1		358.7
Less: Excess of FIFO cost over LIFO cost	—		(23.3		)
Inventories		$396.1		$335.4

Income Taxes (Reconciliation of Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions		12 Months Ended
	Apr. 17, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Unrecognized Tax Benefits
Balance at beginning of year		$ 146.4	$ 90.2	$ 83.8
Additions for tax positions of the current year		26.4	47.5	12.5
Additions for tax positions of prior years		119.2	16.1	2.9
Reductions for tax positions of prior years		(41.3)	(4.0)	0.0
Settlements	$ (43.1)	(14.2)	(2.0)	(5.6)
Statute of limitations expiration		(2.6)	(3.2)	(2.9)
Foreign currency translation		(0.3)		(0.5)
Foreign currency translation			1.8
Balance at End of Year		$ 233.6	$ 146.4	$ 90.2

Retirement Benefits (Amount of Accumulated Other Comprehensive Income Expected to be Recognized in Next Fiscal Year) (Details) - Defined Benefit Pension Plan $ in Millions	Sep. 30, 2018 USD ($)
U.S.
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss	$ 65.1
Prior service cost (credit)	1.0
International
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss	11.2
Prior service cost (credit)	$ (0.2)

Supplemental Information

12 Months Ended

Sep. 30, 2018

Property, Plant and Equipment [Abstract]

Supplemental Information

SUPPLEMENTAL INFORMATION



Other Receivables and Current Assets 30 September	2018		2017
Derivative instruments		$61.1		$93.9
Other receivables	139.0		188.0
Current capital lease receivables	92.1		93.3
Other	3.6		28.1
Other receivables and current assets		$295.8		$403.3



Other Noncurrent Assets 30 September	2018		2017
Derivative instruments		$85.0		$133.9
Noncurrent customer receivable	92.4		62.6
Prepaid tax	13.2		5.1
Deferred tax assets	121.4		174.5
Pension benefits	131.7		18.4
Deposits	—		34.8
Other	210.8		212.5
Other noncurrent assets		$654.5		$641.8



Payables and Accrued Liabilities 30 September	2018		2017
Trade creditors		$594.6		$659.5
Payables associated with Lu'An	330.0		—
Customer advances	156.6		438.9
Accrued payroll and employee benefits	201.4		187.1
Pension and postretirement benefits	34.1		22.6
Dividends payable	241.5		207.5
Outstanding payments in excess of certain cash balances	9.1		4.5
Accrued interest expense	49.5		42.2
Derivative instruments	54.2		95.9
Severance and other costs associated with cost reduction actions	9.9		41.5
Other	136.9		114.6
Payables and accrued liabilities		$1,817.8		$1,814.3



Other Noncurrent Liabilities 30 September	2018		2017
Pension benefits		$417.2		$703.8
Postretirement benefits	47.0		57.0
Other employee benefits	94.4		99.3
Noncurrent customer liability	92.4		62.6
Long-term accrued income taxes related to U.S. tax reform	184.4		—
Contingencies related to uncertain tax positions	113.2		130.6
Advance payments	58.2		39.0
Environmental liabilities	64.6		72.3
Derivative instruments	39.9		36.0
Asset retirement obligations	189.5		144.0
Obligation for future contribution to an equity affiliate	94.4		94.4
Obligations associated with EfW	63.3		65.3
Other	78.4		107.6
Other noncurrent liabilities		$1,536.9		$1,611.9



Other Income (Expense), Net 30 September	2018			2017		2016
Technology and royalty income^(A)		$22.8			$20.8		$19.0
Interest income^(B)	—			1.5		6.1
Foreign exchange	(3.9		)	4.3		(7.2		)
Sale of assets and investments^(C)	6.9			24.3		8.8
Contract settlements	2.9			14.3		12.6
Transition service agreements reimbursement^(D)	12.7			38.4		—
Other	8.8			17.4		10.1
Other income (expense), net		$50.2			$121.0		$49.4


^(A)	Primarily includes related party activity with our equity affiliates.


^(B)	Beginning in the second quarter of fiscal year 2017, interest income associated with our cash and cash items and short-term investments is reflected on the consolidated income statements in "Other non-operating income (expense), net."


^(C)	Includes a gain of $12.2 resulting from the sale of a parcel of land during the fourth quarter of fiscal year 2017.


^(D)	Reflects reimbursement for costs in support of transition services agreements with Versum for EMD and with Evonik for PMD. Refer to Note 4, Materials Technologies Separation, for additional information.



Other Non-Operating Income (Expense), Net 30 September	2018			2017			2016
Interest income^(A)		$46.3			$29.8			$—
Pension settlement loss^(B)	(48.5		)	(10.5		)	(5.1		)
Other non-service pension benefit (costs)	7.7			(1.9		)	(.3		)
Other	(.4		)	(.8		)	—
Other non-operating income (expense), net		$5.1			$16.6			($5.4	)


^(A)	Prior to the second quarter of fiscal year 2017, interest income associated with our cash and cash items and short-term investments was reflected on the consolidated income statements in "Other income (expense), net."


^(B)	Fiscal year 2018 includes a loss of $43.7 that primarily resulted from the transfer of certain pension payment obligations to an insurer through the purchase of an irrevocable, nonparticipating group annuity contract during the fourth quarter.

Related Party Sales

We have related party sales to some of our equity affiliates and joint venture partners. Sales to related parties totaled approximately $340, $580, and $320 during fiscal years 2018, 2017, and 2016, respectively, and primarily related to Jazan sale of equipment activity. Agreements with related parties include terms that are consistent with those that we believe would have been negotiated at an arm’s length with an independent party.

Retirement Benefits (Change in Projected Benefit Obligation) (Details) - Defined Benefit Pension Plan - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
U.S.
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Obligation at beginning of year	$ 3,357.7	$ 3,477.7
Service cost	25.5	29.0	$ 36.5
Interest cost	107.2	107.5	110.7
Amendments	0.1	1.9
Actuarial gain	(217.8)	(68.0)
Divestitures	0.0	0.0
Curtailments	0.0	(17.3)
Settlements	(193.0)	7.0
Special termination benefits	0.4	2.8
Participant contributions	0.0	0.0
Benefits paid	(157.3)	(182.9)
Currency translation/other	0.0	0.0
Obligation at end of year	2,922.8	3,357.7	3,477.7
International
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Obligation at beginning of year	1,749.5	1,849.6
Service cost	25.5	25.9	24.3
Interest cost	37.3	32.2	44.3
Amendments	0.7	0.0
Actuarial gain	(33.9)	(132.4)
Divestitures	0.0	(34.1)
Curtailments	0.0	(4.2)
Settlements	(24.6)	0.0
Special termination benefits	0.0	0.0
Participant contributions	1.4	1.4
Benefits paid	(51.3)	(46.5)
Currency translation/other	(44.1)	57.6
Obligation at end of year	$ 1,660.5	$ 1,749.5	$ 1,849.6

Leases (Capital Lease Receivables) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Leases [Abstract]
Gross minimum lease payments receivable	$ 1,673.7	$ 1,897.0
Unearned interest income	(568.3)	(671.9)
Lease Receivables, net	$ 1,105.4	$ 1,225.1

Capital Stock (Common Stock Narrative) (Details) - USD ($)	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2015	Sep. 15, 2011
Equity [Abstract]
Common stock, authorized shares	300,000,000
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares issued	249,455,584	249,455,584
Common stock, shares outstanding	219,515,245	218,346,074	217,350,825	215,359,113
Share repurchase program authorized amount					$ 1,000,000,000.0
Shares repurchased during period (shares)	0
Share repurchase authorization remaining amount	$ 485,300,000

Plant and Equipment, Net (Tables)

12 Months Ended

Sep. 30, 2018

Schedule of Major Classes of Plant and Equipment

The major classes of plant and equipment are as follows:



30 September	Useful Life in years			2018		2017
Land					$269.4		$231.0
Buildings			30	988.6		977.8
Production facilities^(A)	10	to	20	15,082.8		13,577.1
Distribution and other machinery and equipment^(B)	5	to	25	4,400.9		3,944.0
Construction in progress				748.5		817.9
Plant and equipment, at cost				21,490.2		19,547.8
Less: Accumulated depreciation				11,566.5		11,107.6
Plant and equipment, net					$9,923.7		$8,440.2


^(A)	Depreciable lives of production facilities related to long-term customer supply contracts 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; and 5 to 15 years for tractors and trailers.

Intangible Assets (Acquired Intangible Assets) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets, gross	$ 663.3	$ 578.7
Accumulated amortization and impairment	(224.8)	(210.4)
Intangible assets, net	438.5	368.3
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	598.5	510.9
Accumulated amortization	(211.2)	(189.5)
Finite-lived intangible assets, net	387.3	321.4
Trade names and trademarks
Acquired Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets, gross	64.8	67.8
Accumulated impairment	(13.6)	(20.9)
Indefinite-lived intangible assets, net	51.2	46.9
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	491.9	424.1
Accumulated amortization	(165.5)	(142.3)
Finite-lived intangible assets, net	326.4	281.8
Patents and technology
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	34.0	13.4
Accumulated amortization	(11.9)	(10.6)
Finite-lived intangible assets, net	22.1	2.8
Other
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	72.6	73.4
Accumulated amortization	(33.8)	(36.6)
Finite-lived intangible assets, net	$ 38.8	$ 36.8

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2017	Sep. 30, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill impairment charge			$ 145.3
Intangible asset impairment charge	$ 16.8
Fair Value \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill impairment charge		$ 145.3
Intangible asset impairment charge		$ 16.8

Materials Technologies Separation (Narrative) (Details) - USD ($)
$ in Millions

1 Months Ended

3 Months Ended

12 Months Ended

Sep. 30, 2016

Sep. 30, 2018

Sep. 30, 2017

^[1]

Jun. 30, 2017

^[1]

Mar. 31, 2017

^[1]

Dec. 31, 2016

^[1]

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2016

Business separation costs, legal and advisory fees, before tax

$ 0.0

$ 32.5

$ 0.0

$ 32.5

^[1]

$ 50.6

Pension settlement benefit

$ (43.7)

(48.5)

^[2]

(10.5)

^[2]

(5.1)

^[2]

Additional income tax expense related to the separation

51.8

Foreign earnings repatriated

443.8

Loss on extinguishment of debt

$ 0.0

0.0

6.9

Versum Financing

Cash to be received at spin-off

$ 550.0

550.0

Senior notes, aggregate principal amount

425.0

Extinguishment of debt amount

418.3

Loss on extinguishment of debt

$ 6.9

6.9

Materials Technologies

Net business separation costs

30.2

50.6

Business separation costs, legal and advisory fees, before tax

32.5

50.6

5.5

Materials Technologies | Other Nonoperating Income (Expense) [Member]

Pension settlement benefit

$ 2.3

Electronic Materials Division (EMD)

Foreign earnings repatriated

45.7

$ 443.8

[1]	For additional information, refer to Note 4, Materials Technologies Separation.
[2]	Fiscal year 2018 includes a loss of $43.7 that primarily resulted from the transfer of certain pension payment obligations to an insurer through the purchase of an irrevocable, nonparticipating group annuity contract during the fourth quarter.

Debt (Summary of Outstanding Debt) (Details)
$ in Millions, ¥ in Billions

Oct. 01, 2018

USD ($)

Sep. 30, 2018

USD ($)

Sep. 30, 2018

CNY (¥)

Sep. 30, 2017

USD ($)

Debt Disclosure [Abstract]

Short-term borrowings

$ 54.3

$ 144.0

Current portion of long-term debt

$ 406.6

406.6

416.4

Long-term debt

2,967.4

3,402.4

Long-term debt – related party

384.3

^[1]

¥ 2.6

0.0

^[1]

Total Debt

$ 3,812.6

$ 3,962.8

[1]	Refer to Note 6, Acquisitions, for additional information regarding related party debt.

Major Accounting Policies (Policies)

12 Months Ended

Sep. 30, 2018

Accounting Policies [Abstract]

Basis of Presentation and Consolidation Principles

The accompanying consolidated financial statements of Air Products and Chemicals, Inc. were prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of Air Products and Chemicals, Inc. and those of its controlled subsidiaries (“we,” “our,” “us,” the “Company,” “Air Products,” or “registrant”), which are generally majority owned. Intercompany transactions and balances are eliminated in consolidation.

We consolidate all entities that we control. The general condition for control is ownership of a majority of the voting interests of an entity. Control may also exist in arrangements where we are the primary beneficiary of a variable interest entity (VIE). An entity that has both the power to direct the activities that most significantly impact the economic performance of a VIE and the obligation to absorb losses or receive benefits significant to the VIE is considered the primary beneficiary of that entity. We have determined that we are not a primary beneficiary in any material VIE.

The results of operations and cash flows for our discontinued operations have been segregated from the results of continuing operations and segment results for all periods presented. The assets and liabilities of the discontinued operations are segregated in the consolidated balance sheets. The comprehensive income related to discontinued operations has not been segregated and is included in the consolidated comprehensive income statement for all periods presented. Refer to Note 3, Discontinued Operations, for detail of the businesses presented in discontinued operations.

The notes to the consolidated financial statements, unless otherwise indicated, are on a continuing operations basis. The term "total company" includes both continuing and discontinued operations.

Reclassifications

ReclassificationsThe consolidated financial statements and accompanying notes reflect accounting guidance that was adopted during fiscal year 2018. Refer to Note 2, New Accounting Guidance, for additional information. Certain prior year information has been reclassified to conform to the fiscal year 2018 presentation.

Estimates and Assumptions

Estimates and AssumptionsThe preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

Revenue Recognition

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

Revenue from equipment sale contracts is recorded primarily using the percentage-of-completion method. Under this method, revenue from the sale of major equipment, such as liquefied natural gas (LNG) heat exchangers and large air separation units, is primarily recognized based on costs incurred to date compared with total estimated costs to be incurred. When adjustments in estimated total contract revenues or estimated total costs are required, any changes in the estimated profit from prior estimates are recognized in the current period for the inception-to-date effect of such change. Changes in estimates on projects accounted for under the percentage-of-completion method favorably impacted operating income by approximately $38, $27, and $20 in fiscal years 2018, 2017, and 2016, respectively. Our changes in estimates would not have significantly impacted amounts recorded in prior years.

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 appropriate, 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 appropriate, 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. Allowances for credit losses associated with capital lease receivables are recorded using the specific identification method. As of 30 September 2018 and 2017, the credit quality of capital lease receivables did not require a material allowance for credit losses.

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. Revenues are allocated to each deliverable based upon relative selling prices derived from company specific evidence.

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. We record a liability until remitted to the respective taxing authority.

Cost of Sales

Cost of SalesCost 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

DepreciationDepreciation 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 Note 9, Plant and Equipment, net.

Selling and Administrative

Selling and AdministrativeThe principal components of selling and administrative expenses are compensation, advertising, and promotional costs. Selling and administrative expenses also include costs for functional support previously provided to the former Electronic Materials and Performance Materials Divisions and in support of transition services agreements with Versum and with Evonik, for which the reimbursement is reflected in "Other income (expense), net" on our consolidated income statements.

Postemployment Benefits

Postemployment BenefitsWe provide termination benefits to employees as part of ongoing benefit arrangements and record a liability 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. We do not provide material one-time benefit arrangements.

Fair Value Measurements

Fair Value MeasurementsWe are required to measure certain assets and liabilities at fair value, either upon initial measurement or for subsequent accounting or reporting. For example, fair value is used in the initial measurement of assets and liabilities acquired in a business combination; on a recurring basis in the measurement of derivative financial instruments; and on a nonrecurring basis when long-lived assets are written down to fair value when held for sale or determined to be impaired. Refer to Note 14, Fair Value Measurements, and Note 16, Retirement Benefits, for information on the methods and assumptions used in our fair value measurements.

Financial Instruments

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

Major financial institutions are counterparties to all of these derivative contracts. We have established counterparty credit guidelines and generally enter 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.

We recognize derivatives on the balance sheet at fair value. On the date the derivative instrument is entered into, we generally designate 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 (fair value hedge).

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


•	Changes in the fair value of a derivative that is designated as and meets the cash flow hedge criteria are recorded in accumulated other comprehensive loss (AOCL) to the extent effective 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 AOCL.


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

We formally document the relationships between hedging instruments and hedged items, as well as our 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. We also formally assess, at the inception of the hedge and on an ongoing basis, whether derivatives are 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, we will discontinue hedge accounting with respect to that derivative prospectively.

Foreign Currency

Since we do business in many foreign countries, fluctuations in currency exchange rates affect our financial position and results of operations.

In most of our foreign operations, the local currency is considered the functional currency. Foreign subsidiaries translate their assets and liabilities into U.S. dollars at current exchange rates in effect at the end of the fiscal period. The gains or losses that result from this process are shown as translation adjustments in AOCL in the equity section of the balance sheet.

The revenue and expense accounts of foreign subsidiaries are translated into U.S. dollars at the average exchange rates that prevail during the period. Therefore, the U.S. dollar value of these items on the consolidated income statements 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 reflected in "Other income (expense), net" on our consolidated income statements 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. We expense environmental costs related to existing conditions resulting from past or current operations and from which no current or future benefit is discernible. The amounts charged to income from continuing operations related to environmental matters totaled $12.8, $11.4, and $12.2 in fiscal years 2018, 2017, and 2016, respectively.

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, remediation costs, post-remediation monitoring costs, natural resource damages, and outside legal fees. These liabilities include costs related to other potentially responsible parties to the extent that we have reason to believe such parties will not fully pay their proportionate share. They do not consider 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, and the liability is adjusted to reflect additional technical and legal information that becomes available. Management has an 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.

Given inherent uncertainties in evaluating environmental exposures, actual costs to be incurred at identified sites in future periods may vary from the estimates. 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.

Litigation

LitigationIn the normal course of business, we are involved in legal proceedings. We accrue a liability for such matters when it is probable that a liability has been incurred and the amount of loss 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. Refer to Note 17, Commitments and Contingencies, for additional information on our current legal proceedings.

Share-Based Compensation

Share-Based CompensationWe have various share-based compensation programs, which include deferred stock units, stock options, and restricted stock. We expense the grant-date fair value of these awards 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. Refer to Note 19, Share-Based Compensation, for additional information regarding these awards and the models and assumptions used to determine the grant-date fair value of our awards.

Income Taxes

We account for income taxes under the asset and 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 in effect for the year in which the differences are expected to be recovered or settled. 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. We recognize deferred tax assets net of existing valuation allowances to the extent we believe that these assets are more likely than not to be realized considering all available evidence.

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. For additional information regarding our income taxes, refer to Note 22, Income Taxes.

Other Non-Operating Income (Expense), net

Other Non-Operating Income (Expense), netBeginning in the second quarter of fiscal year 2017, other non-operating income (expense), net includes interest income associated with our cash and cash items and short-term investments. Interest income in previous periods was included in "Other income (expense), net." In addition, other non-operating income (expense), net includes non-service cost components of net periodic pension and postretirement benefit cost. Our non-service costs primarily include interest cost, expected return on plan assets, amortization of actuarial gains and losses, and settlements.

Cash and Cash Items

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

Short-term investments

Short-term InvestmentsShort-term investments include time deposits and certificates of deposit with original maturities greater than three months and less than one year.

Trade Receivables,net

Trade Receivables, netTrade receivables comprise amounts owed to us through our 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 allowance also includes 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. Allowances for doubtful accounts were $91.3 and $93.5 as of 30 September 2018 and 2017, respectively. Provisions to the allowance for doubtful accounts charged against income were $24.0, $45.8, and $21.8 in fiscal years 2018, 2017, and 2016, respectively.

Inventories

We carry inventory on our consolidated balance sheets that is comprised of finished goods, work-in-process, raw materials and supplies. Inventories are stated at the lower of cost or net realizable value. We write down our inventories for estimated obsolescence or unmarketable inventory based upon assumptions about future demand and market conditions.

Effective 1 July 2018, we changed our accounting method for U.S. industrial gases inventories from a last-in, first-out basis (LIFO) to a first-in, first-out basis (FIFO). Previously, the LIFO method was used to determine the cost of industrial gases inventories in the United States. We believe this change in accounting method is preferable as it is consistent with how we manage our business, results in a uniform method to value our inventory across all regions of our business, improves comparability with our peers, and is expected to better reflect the current value of inventory on the consolidated balance sheets. We applied this accounting change as a cumulative effect adjustment to cost of sales in the fourth quarter of fiscal year 2018 and did not restate prior period financial statements because the impact was not material. Refer to Note 7, Inventories, for additional information.

Equity Investments

Equity InvestmentsThe equity method of accounting is used when we exercise significant influence but do not have operating control, generally assumed to be 20% – 50% ownership. Under the equity method, original investments are recorded at cost and adjusted by our 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, Net

Plant and equipment, net 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. Refer to Note 9, Plant and Equipment, net, for further detail.

Computer Software

Computer SoftwareWe capitalize 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 our requirements, payroll and related costs for employees directly involved in development, and interest incurred while software is being developed. Capitalized computer software costs are reflected in "Plant and equipment, net" on the consolidated balance sheets and are depreciated over the estimated useful life of the software, generally a period of three to five years.

Capitalized Interest

Capitalized InterestAs we build new plant and equipment, we include in the cost of these assets a portion of the interest payments we make during the year. The amount of capitalized interest was $19.5, $19.0, and $32.7 in fiscal years 2018, 2017, and 2016, respectively.

Impairment of Long-Lived Assets

Impairment of Long-Lived AssetsLong-lived assets are grouped for impairment testing at the lowest level for which there are identifiable cash flows that are largely independent of the cash flows of other assets and liabilities and are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. We assess recoverability by comparing the carrying amount of the asset group to estimated undiscounted future cash flows expected to be generated by the asset group. If an asset group is considered impaired, the impairment loss to be recognized is measured as the amount by which the asset group’s carrying amount exceeds its fair value. Long-lived assets meeting the held for sale criteria are reported at the lower of carrying amount or fair value less cost to sell.

Asset Retirement Obligations

Asset Retirement ObligationsThe fair value of a liability for an asset retirement obligation is recognized in the period in which it is incurred. The fair value of the liability is measured using discounted estimated cash flows 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. Our asset retirement obligations are primarily associated with on-site long-term supply contracts under which we have built a facility on land owned by the customer and are obligated to remove the facility at the end of the contract term. Our asset retirement obligations totaled $190.4 and $144.7 at 30 September 2018 and 2017, respectively.

Goodwill

Business combinations are accounted for using the acquisition method. The purchase price is allocated to the assets acquired and liabilities assumed based on their estimated fair values. Any excess purchase price (plus the fair value of any noncontrolling interest and previously held equity interest in the acquiree) 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 about facts and circumstances that existed as of the acquisition date needed to finalize underlying estimates is obtained or when we determine that such information is not obtainable, 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. Refer to Note 10, Goodwill, for further detail.

Intangible Assets

Intangible assets with determinable lives primarily consist of customer relationships, purchased patents and technology, and land use rights. 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. Indefinite-lived intangible assets consist of trade names and trademarks. Indefinite-lived intangibles are subject to impairment testing at least annually. In addition, intangible assets are tested more frequently if a change in circumstances or the occurrence of events indicates that potential impairment exists.

Customer relationships are generally amortized over periods of five to twenty-five years. Purchased patents and technology and other are generally amortized over periods of five to fifteen years. Land use rights, which are included in other intangibles, are generally amortized over a period of fifty years. Amortizable lives are adjusted whenever there is a change in the estimated period of economic benefit. Refer to Note 11, Intangible Assets, for further detail.

Retirement Benefits

Retirement BenefitsThe cost of pension benefits is recognized over the employees’ service period. We 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 our pension and other postretirement benefits.

Commitments and Contingencies (Tables)

12 Months Ended

Sep. 30, 2018

Commitments and Contingencies Disclosure [Abstract]

Schedule of Change in Asset Retirement Obligation

Changes to the carrying amount of our asset retirement obligations are as follows:



Balance at 30 September 2016		$119.9
Additional accruals	22.7
Liabilities settled	(4.1		)
Accretion expense	5.8
Currency translation adjustment	.4
Balance at 30 September 2017		$144.7
Additional accruals	43.8
Liabilities settled	(2.6		)
Accretion expense	7.2
Currency translation adjustment	(2.7		)
Balance at 30 September 2018		$190.4

Schedule of Unconditional Purchase Obligations Disclosure

We are obligated to make future payments under unconditional purchase obligations as summarized below:



2019		$851
2020	362
2021	342
2022	318
2023	326
Thereafter	5,461
Total		$7,660

New Accounting Guidance (Balance Sheet Impacts) (Details) - USD ($) $ in Millions	Oct. 01, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2015
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cash and cash items	$ 2,791.3	$ 2,791.3	$ 3,273.6	$ 1,293.2
Short-term investments	184.7	184.7	404.0
Trade receivables, net	1,207.2	1,207.2	1,174.0
Inventories	396.1	396.1	335.4
Contracts in progress, less progress billings	0.0	77.5	84.8
Prepaid expenses	129.6	129.6	191.4
Other receivables and current assets	399.5	295.8	403.3
Total Current Assets	5,108.4	5,082.2	5,876.7
Total Noncurrent Assets	14,096.1	14,096.1	12,590.5
Total Assets	19,204.5	19,178.3	18,467.2	18,028.6
Payables and accrued liabilities	1,844.0	1,817.8	1,814.3
Accrued income taxes	59.6	59.6	98.6
Short-term borrowings	54.3	54.3	144.0
Current portion of long-term debt	406.6	406.6	416.4
Total Current Liabilities	2,364.5	2,338.3	2,489.0
Total Noncurrent Liabilities	5,663.7	5,663.7	5,792.7
Total Liabilities	8,028.2	8,002.0	8,281.7
Total Equity	11,176.3	11,176.3	10,185.5	$ 7,213.4	$ 7,381.1
Total Liabilities and Equity	19,204.5	$ 19,178.3	$ 18,467.2
Estimated Impact Accounting Standards Update 2014-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cash and cash items	0.0
Short-term investments	0.0
Trade receivables, net	0.0
Inventories	0.0
Contracts in progress, less progress billings	(77.5)
Prepaid expenses	0.0
Other receivables and current assets	103.7
Total Current Assets	26.2
Total Noncurrent Assets	0.0
Total Assets	26.2
Payables and accrued liabilities	26.2
Accrued income taxes	0.0
Short-term borrowings	0.0
Current portion of long-term debt	0.0
Total Current Liabilities	26.2
Total Noncurrent Liabilities	0.0
Total Liabilities	26.2
Total Equity	0.0
Total Liabilities and Equity	$ 26.2

Supplemental Information (Other Non-Operating Income (Expense), Net) (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2016

Interest income

^[1]

$ 46.3

$ 29.8

$ 0.0

Other non-service pension benefit (costs)

$ (43.7)

(48.5)

^[2]

(10.5)

^[2]

(5.1)

^[2]

7.7

(1.9)

(0.3)

Other non-operating income (expense), net

(0.4)

(0.8)

0.0

$ 5.1

$ 16.6

$ (5.4)

[1]	Prior to the second quarter of fiscal year 2017, interest income associated with our cash and cash items and short-term investments was reflected on the consolidated income statements in "Other income (expense), net."
[2]	Fiscal year 2018 includes a loss of $43.7 that primarily resulted from the transfer of certain pension payment obligations to an insurer through the purchase of an irrevocable, nonparticipating group annuity contract during the fourth quarter.

Retirement Benefits (Benefit Liability Exceeds Value of Plan Assets) (Details) - Defined Benefit Pension Plan - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
U.S.
Pension Plans with PBO in Excess of Plan Assets:
PBO	$ 2,733.6	$ 3,116.7
Fair value of Plan assets	2,467.5	2,623.0
Pension Plans with ABO in Excess of Plan Assets:
ABO	2,608.6	2,951.0
Fair value of plan assets	2,467.5	2,623.0
International
Pension Plans with PBO in Excess of Plan Assets:
PBO	452.6	465.7
Fair value of Plan assets	276.8	243.1
Pension Plans with ABO in Excess of Plan Assets:
ABO	357.9	365.6
Fair value of plan assets	$ 228.2	$ 197.1

Income Taxes Income Taxes (Deferred Tax Assets for Certain Tax Credits) (Details) $ in Millions	Sep. 30, 2018 USD ($)
State
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	$ 1.9
Foreign
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	$ 21.6

Major Accounting Policies

12 Months Ended

Sep. 30, 2018

Accounting Policies [Abstract]

Major Accounting Policies

MAJOR ACCOUNTING POLICIES

Basis of Presentation and Consolidation Principles

The notes to the consolidated financial statements, unless otherwise indicated, are on a continuing operations basis. The term "total company" includes both continuing and discontinued operations.

Reclassifications

The consolidated financial statements and accompanying notes reflect accounting guidance that was adopted during fiscal year 2018. Refer to Note 2, New Accounting Guidance, for additional information. Certain prior year information has been reclassified to conform to the fiscal year 2018 presentation.

Estimates and Assumptions

The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

Revenue Recognition

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

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 Note 9, Plant and Equipment, net.

Selling and Administrative

The principal components of selling and administrative expenses are compensation, advertising, and promotional costs. Selling and administrative expenses also include costs for functional support previously provided to the former Electronic Materials and Performance Materials Divisions and in support of transition services agreements with Versum and with Evonik, for which the reimbursement is reflected in "Other income (expense), net" on our consolidated income statements.

Postemployment Benefits

We provide termination benefits to employees as part of ongoing benefit arrangements and record a liability 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. We do not provide material one-time benefit arrangements.

Fair Value Measurements

We are required to measure certain assets and liabilities at fair value, either upon initial measurement or for subsequent accounting or reporting. For example, fair value is used in the initial measurement of assets and liabilities acquired in a business combination; on a recurring basis in the measurement of derivative financial instruments; and on a nonrecurring basis when long-lived assets are written down to fair value when held for sale or determined to be impaired. Refer to Note 14, Fair Value Measurements, and Note 16, Retirement Benefits, for information on the methods and assumptions used in our fair value measurements.

Financial Instruments

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


•	Changes in the fair value of a derivative that is designated as and meets the cash flow hedge criteria are recorded in accumulated other comprehensive loss (AOCL) to the extent effective 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 AOCL.


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

Foreign Currency

Since we do business in many foreign countries, fluctuations in currency exchange rates affect our financial position and results of operations.

Environmental Expenditures

The accruals for environmental liabilities are reflected in the consolidated balance sheets, primarily as part of other noncurrent liabilities.

Litigation

In the normal course of business, we are involved in legal proceedings. We accrue a liability for such matters when it is probable that a liability has been incurred and the amount of loss 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. Refer to Note 17, Commitments and Contingencies, for additional information on our current legal proceedings.

Share-Based Compensation

We have various share-based compensation programs, which include deferred stock units, stock options, and restricted stock. We expense the grant-date fair value of these awards 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. Refer to Note 19, Share-Based Compensation, for additional information regarding these awards and the models and assumptions used to determine the grant-date fair value of our awards.

Income Taxes

Other Non-Operating Income (Expense), net

Beginning in the second quarter of fiscal year 2017, other non-operating income (expense), net includes interest income associated with our cash and cash items and short-term investments. Interest income in previous periods was included in "Other income (expense), net." In addition, other non-operating income (expense), net includes non-service cost components of net periodic pension and postretirement benefit cost. Our non-service costs primarily include interest cost, expected return on plan assets, amortization of actuarial gains and losses, and settlements.

Cash and Cash Items

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

Short-term Investments

Short-term investments include time deposits and certificates of deposit with original maturities greater than three months and less than one year.

Trade Receivables, net

Trade receivables comprise amounts owed to us through our 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 allowance also includes 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. Allowances for doubtful accounts were $91.3 and $93.5 as of 30 September 2018 and 2017, respectively. Provisions to the allowance for doubtful accounts charged against income were $24.0, $45.8, and $21.8 in fiscal years 2018, 2017, and 2016, respectively.

Inventories

Equity Investments

The equity method of accounting is used when we exercise significant influence but do not have operating control, generally assumed to be 20% – 50% ownership. Under the equity method, original investments are recorded at cost and adjusted by our 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, Net

Computer Software

We capitalize 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 our requirements, payroll and related costs for employees directly involved in development, and interest incurred while software is being developed. Capitalized computer software costs are reflected in "Plant and equipment, net" on the consolidated balance sheets and are depreciated over the estimated useful life of the software, generally a period of three to five years.

Capitalized Interest

As we build new plant and equipment, we include in the cost of these assets a portion of the interest payments we make during the year. The amount of capitalized interest was $19.5, $19.0, and $32.7 in fiscal years 2018, 2017, and 2016, respectively.

Impairment of Long-Lived Assets

Long-lived assets are grouped for impairment testing at the lowest level for which there are identifiable cash flows that are largely independent of the cash flows of other assets and liabilities and are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. We assess recoverability by comparing the carrying amount of the asset group to estimated undiscounted future cash flows expected to be generated by the asset group. If an asset group is considered impaired, the impairment loss to be recognized is measured as the amount by which the asset group’s carrying amount exceeds its fair value. Long-lived assets meeting the held for sale criteria are reported at the lower of carrying amount or fair value less cost to sell.

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 fair value of the liability is measured using discounted estimated cash flows 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. Our asset retirement obligations are primarily associated with on-site long-term supply contracts under which we have built a facility on land owned by the customer and are obligated to remove the facility at the end of the contract term. Our asset retirement obligations totaled $190.4 and $144.7 at 30 September 2018 and 2017, respectively.

Goodwill

Intangible Assets

Retirement Benefits

The cost of pension benefits is recognized over the employees’ service period. We 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 our pension and other postretirement benefits.

New Accounting Guidance (Tables)

12 Months Ended

Sep. 30, 2018

New Accounting Pronouncements and Changes in Accounting Principles [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]

The expected balance sheet impacts of no longer presenting "Contracts in progress, less progress billings" are summarized below:



	30 September 2018		New Revenue Standard Adjustments			1 October 2018
Assets
Current Assets
Cash and cash items		$2,791.3		$—			$2,791.3
Short-term investments	184.7		—			184.7
Trade receivables, net	1,207.2		—			1,207.2
Inventories	396.1		—			396.1
Contracts in progress, less progress billings	77.5		(77.5		)	—
Prepaid expenses	129.6		—			129.6
Other receivables and current assets	295.8		103.7			399.5
Total Current Assets	5,082.2		26.2			5,108.4
Total Noncurrent Assets	14,096.1		—			14,096.1
Total Assets		$19,178.3		$26.2			$19,204.5
Liabilities and Equity
Current Liabilities
Payables and accrued liabilities		$1,817.8		$26.2			$1,844.0
Accrued income taxes	59.6		—			59.6
Short-term borrowings	54.3		—			54.3
Current portion of long-term debt	406.6		—			406.6
Total Current Liabilities	2,338.3		26.2			2,364.5
Total Noncurrent Liabilities	5,663.7		—			5,663.7
Total Liabilities	8,002.0		26.2			8,028.2
Total Equity	11,176.3		—			11,176.3
Total Liabilities and Equity		$19,178.3		$26.2			$19,204.5

Inventories (Narrative) (Details) - USD ($) $ in Millions		3 Months Ended	12 Months Ended
Inventories (Narrative) (Details) - USD ($) $ in Millions	Jul. 01, 2018	Sep. 30, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Inventory Disclosure [Abstract]
Percentage of LIFO Inventory				49.00%
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase in inventories			$ 64.2	$ (6.4)	$ (32.2)
Income from continuing operations before taxes			2,015.0	$ 1,416.1	$ 1,554.6
Change in Inventory Valuation Method
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase in inventories	$ 24.1
Income from continuing operations before taxes		$ 24.1	$ 24.1

Discontinued Operations (Schedule of Operating Results) (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Sep. 30, 2018

Jun. 30, 2018

^[1]

Mar. 31, 2018

Dec. 31, 2017

Sep. 30, 2017

Jun. 30, 2017

Mar. 31, 2017

^[2]

Dec. 31, 2016

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2016

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Income (loss) from Discontinued Operations, net of tax

$ 42.2

$ 1,866.0

$ (460.5)

Net Income Attributable to Noncontrolling Interests of Discontinued Operations

0.0

7.9

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

$ 0.0

$ 43.2

$ 0.0

$ (1.0)

$ (5.5)

$ (2.3)

$ 1,825.6

$ 48.2

42.2

^[1]

1,866.0

^[2]

(468.4)

Discontinued Operations

254.8

2,020.7

196.1

1,250.7

23.2

167.1

5.1

61.3

(1.7)

(6.3)

28.7

535.3

0.3

1.6

0.3

29.0

536.6

^[3]

Income (Loss) From Operations of Discontinued Operations, net of tax

(56.5)

^[4]

150.5

85.5

386.1

Income (loss) from Discontinued Operations, net of tax

1,780.5

^[5]

(846.6)

42.2

1,866.0

(460.5)

Net Income Attributable to Noncontrolling Interests of Discontinued Operations

7.9

Income before taxes from operations of discontinued operations attributable to Air Products

(468.4)

527.1

Electronic Materials Division (EMD) | Discontinued Operations, Spinoff

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

961.6

521.6

87.7

40.8

2.2

313.7

0.2

0.3

313.6

Income (Loss) From Operations of Discontinued Operations, net of tax

73.4

240.2

Income (loss) from Discontinued Operations, net of tax

0.0

240.2

Net Income Attributable to Noncontrolling Interests of Discontinued Operations

7.9

Performance Materials Division (PMD) | Discontinued Operations, Held-for-sale or Disposed of by Sale

232.3

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

254.8

1,059.1

182.3

704.5

22.5

76.6

5.1

19.6

0.3

4.2

45.2

262.6

0.3

1.4

0.0

45.5

264.0

Income (Loss) From Operations of Discontinued Operations, net of tax

(50.8)

^[4]

80.5

96.3

183.5

Income (loss) from Discontinued Operations, net of tax

1,827.6

^[5]

0.0

1,923.9

183.5

Net Income Attributable to Noncontrolling Interests of Discontinued Operations

0.0

Valuation allowance adjustment effect on income tax provision

183.5

69.0

Gross expense for income tax reserves included in provision for gain on disposal

28.0

Net expense for income tax reserves included in provision for gain on disposal

21.0

Energy-from-Waste (EfW) | Discontinued Operations, Held-for-sale or Disposed of by Sale

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

0.0

13.8

24.6

0.7

2.8

0.0

0.9

(2.0)

(12.7)

(16.5)

^[6]

(41.0)

^[7]

0.0

0.0

(16.5)

^[6]

(41.0)

^[7]

Income (Loss) From Operations of Discontinued Operations, net of tax

(5.7)

(3.4)

(10.8)

^[6]

(37.6)

Loss on Disposal, net of tax

(47.1)

(846.6)

$ (47.1)

(846.6)

Income (loss) from Discontinued Operations, net of tax

$ (1.0)

$ (57.9)

(884.2)

^[7]

Net Income Attributable to Noncontrolling Interests of Discontinued Operations

0.0

Discontinued Operations and Disposal Groups [Abstract]

$ (884.2)

[1]	Primarily includes benefits resulting from the resolution of uncertain tax positions related to the disposition of our former European Homecare business and post-closing adjustments associated with the sale of PMD. For additional information, refer to Note 3, Discontinued Operations.
[2]	Includes the after-tax gain on the sale of PMD. For additional information, see Note 3, Discontinued Operations.
[3]	In fiscal year 2016, income before taxes from operations of discontinued operations attributable to Air Products was $527.1.
[4]	As a result of the expected gain on the sale of PMD, we released valuation allowances related to capital loss and net operating loss carryforwards primarily during the first quarter of 2017 that favorably impacted our income tax provision within discontinued operations by approximately $69.
[5]	After-tax gain on sale of $1,827.6 includes expense for income tax reserves for uncertain tax positions of $28.0 gross ($21.0 net) in various jurisdictions.
[6]	The loss from operations of discontinued operations for EfW primarily relates to costs incurred for ongoing project exit activities, administrative costs, and land lease obligation
[7]	The loss from operations of discontinued operations for EfW primarily relates to project suspension costs, land lease obligations, and administrative costs.

Capital Stock (Changes in Common Shares) (Details) - shares	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Changes in Common Shares [Roll Forward]
Balance, beginning of year (shares)	218,346,074	217,350,825	215,359,113
Issuance of treasury shares for stock option and award plans (shares)	1,169,171	995,249	1,991,712
Balance, end of year (shares)	219,515,245	218,346,074	217,350,825

Earnings per Share

12 Months Ended

Sep. 30, 2018

Earnings Per Share [Abstract]

Earnings per Share

EARNINGS PER SHARE

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



30 September	2018		2017		2016
Numerator
Income from continuing operations		$1,455.6		$1,134.4		$1,099.5
Income (Loss) from discontinued operations	42.2		1,866.0		(468.4		)
Net Income Attributable to Air Products		$1,497.8		$3,000.4		$631.1
Denominator (in millions)
Weighted average common shares — Basic	219.3		218.0		216.4
Effect of dilutive securities
Employee stock option and other award plans	1.5		1.8		1.9
Weighted average common shares — Diluted	220.8		219.8		218.3
Basic EPS Attributable to Air Products
Income from continuing operations		$6.64		$5.20		$5.08
Income (Loss) from discontinued operations	.19		8.56		(2.16		)
Net Income Attributable to Air Products		$6.83		$13.76		$2.92
Diluted EPS Attributable to Air Products
Income from continuing operations		$6.59		$5.16		$5.04
Income (Loss) from discontinued operations	.19		8.49		(2.15		)
Net Income Attributable to Air Products		$6.78		$13.65		$2.89

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. Outstanding share-based awards of .1 million and .2 million shares were antidilutive and therefore excluded from the computation of diluted EPS for 2018 and 2016, respectively. There were no antidilutive outstanding share-based awards in fiscal year 2017.

Retirement Benefits (Plan Assets Target Allocation) (Details) - Defined Benefit Pension Plan	Sep. 30, 2018	Sep. 30, 2017
U.S.
Defined Benefit Plan Disclosure [Line Items]
Actual allocation (percent)	100.00%	100.00%
U.S. \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Actual allocation (percent)	41.00%	58.00%
U.S. \| Debt securities
Defined Benefit Plan Disclosure [Line Items]
Actual allocation (percent)	50.00%	34.00%
U.S. \| Real estate/other
Defined Benefit Plan Disclosure [Line Items]
Actual allocation (percent)	8.00%	7.00%
U.S. \| Cash
Defined Benefit Plan Disclosure [Line Items]
Actual allocation (percent)	1.00%	1.00%
U.S. \| Minimum \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation (percent)	38.00%
U.S. \| Minimum \| Debt securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation (percent)	44.00%
U.S. \| Minimum \| Real estate/other
Defined Benefit Plan Disclosure [Line Items]
Target allocation (percent)	0.00%
U.S. \| Minimum \| Cash
Defined Benefit Plan Disclosure [Line Items]
Target allocation (percent)	0.00%
U.S. \| Maximum \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation (percent)	48.00%
U.S. \| Maximum \| Debt securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation (percent)	54.00%
U.S. \| Maximum \| Real estate/other
Defined Benefit Plan Disclosure [Line Items]
Target allocation (percent)	10.00%
U.S. \| Maximum \| Cash
Defined Benefit Plan Disclosure [Line Items]
Target allocation (percent)	0.00%
International
Defined Benefit Plan Disclosure [Line Items]
Actual allocation (percent)	100.00%	100.00%
International \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Actual allocation (percent)	46.00%	53.00%
International \| Debt securities
Defined Benefit Plan Disclosure [Line Items]
Actual allocation (percent)	53.00%	46.00%
International \| Real estate/other
Defined Benefit Plan Disclosure [Line Items]
Actual allocation (percent)	0.00%	1.00%
International \| Cash
Defined Benefit Plan Disclosure [Line Items]
Actual allocation (percent)	1.00%	0.00%
International \| Minimum \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation (percent)	40.00%
International \| Minimum \| Debt securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation (percent)	50.00%
International \| Minimum \| Real estate/other
Defined Benefit Plan Disclosure [Line Items]
Target allocation (percent)	0.00%
International \| Minimum \| Cash
Defined Benefit Plan Disclosure [Line Items]
Target allocation (percent)	0.00%
International \| Maximum \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation (percent)	49.00%
International \| Maximum \| Debt securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation (percent)	60.00%
International \| Maximum \| Real estate/other
Defined Benefit Plan Disclosure [Line Items]
Target allocation (percent)	0.00%
International \| Maximum \| Cash
Defined Benefit Plan Disclosure [Line Items]
Target allocation (percent)	0.00%

Discontinued Operations

12 Months Ended

Sep. 30, 2018

Discontinued Operations

DISCONTINUED OPERATIONS

In fiscal year 2018, income from discontinued operations, net of tax, of $42.2 includes an income tax benefit of $25.6 resulting from the resolution of uncertain tax positions taken in conjunction with the disposition of our former European Homecare business in fiscal year 2012. In addition, we recorded an after-tax benefit of $17.6 resulting from the resolution of certain post-closing adjustments associated with the sale of our former Performance Materials Division (PMD). Refer to Note 22, Income Taxes, for additional information. These benefits were partially offset by an after-tax loss of $1.0 related to Energy-from-Waste (EfW) project exit activities, which were completed during the first quarter of fiscal year 2018.

There were no assets or liabilities presented in discontinued operations on the consolidated balance sheets as of 30 September 2018. As of 30 September 2017, current assets of discontinued operations of $10.2 related to EfW and current liabilities of discontinued operations of $15.7 primarily related to reserves associated with the disposition of PMD.

The following table details income from discontinued operations, net of tax, on the consolidated income statements for fiscal year 2017:



							Total
	Performance			Energy-from-			Discontinued
Year Ended 30 September 2017	Materials			Waste^(A)			Operations
Sales		$254.8			$—			$254.8
Cost of sales	182.3			13.8			196.1
Selling and administrative	22.5			.7			23.2
Research and development	5.1			—			5.1
Other income (expense), net	.3			(2.0		)	(1.7		)
Operating Income (Loss)	45.2			(16.5		)	28.7
Equity affiliates’ income	.3			—			.3
Income (Loss) Before Taxes	45.5			(16.5		)	29.0
Income tax benefit^(B)	(50.8		)	(5.7		)	(56.5		)
Income (Loss) From Operations of Discontinued Operations, net of tax	96.3			(10.8		)	85.5
Gain (Loss) on disposal of business, net of tax^(C)	1,827.6			(47.1		)	1,780.5
Income (Loss) From Discontinued Operations, net of tax		$1,923.9			($57.9	)		$1,866.0


^(A)	The loss from operations of discontinued operations for EfW primarily relates to costs incurred for ongoing project exit activities, administrative costs, and land lease obligations.


^(B)	As a result of the expected gain on the sale of PMD, we released valuation allowances related to capital loss and net operating loss carryforwards primarily during the first quarter of 2017 that favorably impacted our income tax provision within discontinued operations by approximately $69.


^(C)	After-tax gain on sale of $1,827.6 includes expense for income tax reserves for uncertain tax positions of $28.0 gross ($21.0 net) in various jurisdictions.

In fiscal year 2017, income from discontinued operations, net of tax, of $1,866.0 includes a gain of $2,870 ($1,828 after-tax, or $8.32 per share) for the sale of PMD to Evonik Industries AG (Evonik). The sale closed on 3 January 2017 for $3.8 billion in cash. In addition, we recorded a loss on the disposal of EfW of $59.3 ($47.1 after-tax) during the first quarter of 2017, primarily for land lease obligations and to update our estimate of the net realizable value of the plant assets. The loss on disposal was recorded as a component of discontinued operations while the liability associated with land lease obligations was and continues to be recorded in continuing operations. As of 30 September 2018, liabilities associated with EfW recorded in continuing operations were approximately $63 and primarily related to the land lease obligations.

On 1 October 2016 (the distribution date), Air Products completed the spin-off of its Electronic Materials Division (EMD) as Versum Materials, Inc. (Versum), a separate and independent public company. The spin-off was completed by way of a distribution to Air Products’ stockholders of all of the then issued and outstanding shares of common stock of Versum on the basis of one share of Versum common stock for every two shares of Air Products’ common stock held as of the close of business on 21 September 2016 (the record date for the distribution). Fractional shares of Versum common stock were not distributed to Air Products' common stockholders. Air Products’ stockholders received cash in lieu of fractional shares. Subsequent to the distribution, Versum became an independent public company, and its common stock is listed under the symbol “VSM” on the New York Stock Exchange. The spin-off of Versum was treated as a noncash transaction in the consolidated statements of cash flows in fiscal year 2017. Seifi Ghasemi, Director, Chairman, President, and Chief Executive Officer of Air Products, continues to serve as non-executive chairman of the Versum Board of Directors.

The following table details the loss from discontinued operations, net of tax, on the consolidated income statements for fiscal year 2016:



								Total
	Electronic		Performance		Energy-from-			Discontinued
Year Ended 30 September 2016	Materials		Materials		Waste^(A)			Operations
Sales		$961.6		$1,059.1		$—			$2,020.7
Cost of sales	521.6		704.5		24.6			1,250.7
Selling and administrative	87.7		76.6		2.8			167.1
Research and development	40.8		19.6		.9			61.3
Other income (expense), net	2.2		4.2		(12.7		)	(6.3		)
Operating Income (Loss)	313.7		262.6		(41.0		)	535.3
Equity affiliates’ income	.2		1.4		—			1.6
Interest expense	.3		—		—			.3
Income (Loss) Before Taxes^(B)	313.6		264.0		(41.0		)	536.6
Income tax provision (benefit)	73.4		80.5		(3.4		)	150.5
Income (Loss) From Operations of Discontinued Operations, net of tax	240.2		183.5		(37.6		)	386.1
Loss on disposal of business, net of tax	—		—		(846.6		)	(846.6		)
Income (Loss) From Discontinued Operations, net of tax	240.2		183.5		(884.2		)	(460.5		)
Net Income Attributable to Noncontrolling Interests of Discontinued Operations	7.9		—		—			7.9
Net Income (Loss) From Discontinued Operations		$232.3		$183.5		($884.2	)		($468.4	)


^(A)	The loss from operations of discontinued operations for EfW primarily relates to project suspension costs, land lease obligations, and administrative costs.


^(B)	In fiscal year 2016, income before taxes from operations of discontinued operations attributable to Air Products was $527.1.

In fiscal year 2016, the Company's Board of Directors approved the exit of the EfW business, and efforts to start up the two EfW projects located in Tees Valley, United Kingdom, were discontinued. The loss from discontinued operations, net of tax, of $460.5 includes a loss of $945.7 ($846.6 after-tax) from the write down of the EfW plant assets to their estimated net realizable value and a liability recorded for plant disposition and other costs. Income tax benefits related only to one of the projects as the other did not qualify for a local tax deduction. We estimated the net realizable value of the projects assuming an orderly liquidation of assets capable of being marketed on a secondary equipment market based on market quotes and our experience with selling similar equipment. An asset’s orderly liquidation value is the amount that could be realized from a liquidation sale, given a reasonable period of time to find a buyer, selling the asset in the existing condition where it is located, and assuming the highest and best use of the asset by market participants. A valuation allowance of $58.0 and unrecognized tax benefits of $7.9 were recorded relating to deferred tax assets on capital assets generated from the loss.

Fiscal year 2016 also includes the results of PMD and EMD prior to their dispositions.

Goodwill (Tables)

12 Months Ended

Sep. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Carrying Amount of Goodwill by Segment

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



	Industrial Gases– Americas			Industrial Gases– EMEA			Industrial Gases– Asia			Industrial Gases– Global			Corporate and other		Total
Goodwill, net at 30 September 2016		$309.1			$380.6			$135.2			$20.2			$—		$845.1
Impairment loss	(145.3		)	—			—			—			—		(145.3		)
Acquisitions	—			3.5			—			—			—		3.5
Currency translation	(.1		)	18.3			—			—			—		18.2
Goodwill, net at 30 September 2017		$163.7			$402.4			$135.2			$20.2			$—		$721.5
Acquisitions	—			29.5			38.1			—			10.4		78.0
Currency translation	(1.6		)	(7.5		)	(1.4		)	(.1		)	—		(10.6		)
Goodwill, net at 30 September 2018		$162.1			$424.4			$171.9			$20.1			$10.4		$788.9



30 September	2018			2017			2016
Goodwill, gross		$1,194.7			$1,138.7			$1,103.7
Accumulated impairment losses^(A)	(405.8		)	(417.2		)	(258.6		)
Goodwill, net		$788.9			$721.5			$845.1


^(A)	Accumulated impairment losses include the impacts of currency translation. These losses are attributable to our Latin America reporting unit (LASA) within the Industrial Gases – Americas segment.

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

12 Months Ended

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2016

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

$ 45.9

$ (12.6)

$ 13.7

Designated as Hedging Instrument | Cash Flow Hedges

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

45.9

(12.6)

Designated as Hedging Instrument | Cash Flow Hedges | Sales/Cost of Sales

Net (gain) loss reclassified from OCI (effective portion)

7.1

18.3

Designated as Hedging Instrument | Cash Flow Hedges | Other Income (Expense)

Net (gain) loss reclassified from OCI (effective portion)

(41.6)

6.7

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

(1.0)

(1.6)

Designated as Hedging Instrument | Cash Flow Hedges | Interest Expense

Net (gain) loss reclassified from OCI (effective portion)

5.1

0.8

Designated as Hedging Instrument | Fair Value Hedges | Interest Expense

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

^[1]

(10.1)

(14.7)

Designated as Hedging Instrument | Net Investment Hedges

Not Designated as Hedging Instrument | Other Income (Expense)

20.6

(59.5)

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

^[2]

(4.8)

1.7

Forward Exchange Contracts | Designated as Hedging Instrument | Cash Flow Hedges

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

2.4

0.3

Forward Exchange Contracts | Designated as Hedging Instrument | Cash Flow Hedges | Sales/Cost of Sales

Net (gain) loss reclassified from OCI (effective portion)

7.1

18.3

Forward Exchange Contracts | Designated as Hedging Instrument | Cash Flow Hedges | Other Income (Expense)

Net (gain) loss reclassified from OCI (effective portion)

(7.8)

(3.8)

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

(0.5)

(1.6)

Forward Exchange Contracts | Designated as Hedging Instrument | Cash Flow Hedges | Interest Expense

Net (gain) loss reclassified from OCI (effective portion)

1.2

(2.1)

Forward Exchange Contracts | Designated as Hedging Instrument | Fair Value Hedges | Interest Expense

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

^[1]

0.0

Forward Exchange Contracts | Designated as Hedging Instrument | Net Investment Hedges

Forward Exchange Contracts | Not Designated as Hedging Instrument | Other Income (Expense)

(0.6)

(11.1)

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

^[2]

(4.0)

4.1

Foreign Currency Debt | Designated as Hedging Instrument | Net Investment Hedges

Other Contracts | Designated as Hedging Instrument | Cash Flow Hedges

10.2

(32.8)

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

^[3]

43.5

(12.9)

Other Contracts | Designated as Hedging Instrument | Cash Flow Hedges | Sales/Cost of Sales

Net (gain) loss reclassified from OCI (effective portion)

^[3]

0.0

Other Contracts | Designated as Hedging Instrument | Cash Flow Hedges | Other Income (Expense)

Net (gain) loss reclassified from OCI (effective portion)

^[3]

(33.8)

10.5

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

^[3]

(0.5)

0.0

Other Contracts | Designated as Hedging Instrument | Cash Flow Hedges | Interest Expense

Net (gain) loss reclassified from OCI (effective portion)

^[3]

3.9

2.9

Other Contracts | Designated as Hedging Instrument | Fair Value Hedges | Interest Expense

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

^[1],[3]

(10.1)

(14.7)

Other Contracts | Designated as Hedging Instrument | Net Investment Hedges

Other Contracts | Not Designated as Hedging Instrument | Other Income (Expense)

^[3]

11.0

(15.6)