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Document and Entity Information	9 Months Ended
Document and Entity Information	Jun. 30, 2019 shares
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2019
Document Transition Report	false
Entity File Number	001-04534
Entity Registrant Name	AIR PRODUCTS & CHEMICALS INC /DE/
Entity Central Index Key	0000002969
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	23-1274455
Entity Address, Address Line One	7201 Hamilton Boulevard
Entity Address, City or Town	Allentown
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	18195-1501
City Area Code	610
Local Phone Number	481-4911
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	220,355,139
Common Stock, par value $1.00 per share
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, par value $1.00 per share
Trading Symbol	APD
Security Exchange Name	NYSE
2.0% Euro Notes due 2020
Entity Information [Line Items]
Title of 12(b) Security	2.0% Euro Notes due 2020
Trading Symbol	APD20
Security Exchange Name	NYSE
0.375% Euro Notes due 2021
Entity Information [Line Items]
Title of 12(b) Security	0.375% Euro Notes due 2021
Trading Symbol	APD21B
Security Exchange Name	NYSE
1.0% Euro Notes due 2025
Entity Information [Line Items]
Title of 12(b) Security	1.0% Euro Notes due 2025
Trading Symbol	APD25
Security Exchange Name	NYSE

Consolidated Income Statements (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Sales	$ 2,224.0	$ 2,259.0	$ 6,635.7	$ 6,631.3
Cost of sales	1,466.0	1,545.4	4,484.7	4,623.7
Facility closure	0.0	0.0	29.0	0.0
Selling and administrative	188.5	188.6	568.1	574.8
Research and development	18.1	15.0	50.0	44.1
Cost reduction actions	25.5	0.0	25.5	0.0
Gain on exchange of equity affiliate investments	29.1	0.0	29.1	0.0
Other income (expense), net	14.7	5.8	33.7	43.2
Operating Income	569.7	515.8	1,541.2	1,431.9
Equity affiliates' income	56.4	58.1	155.5	115.6
Interest expense	34.2	34.9	106.9	95.1
Other non-operating income (expense), net	17.6	12.8	49.8	33.7
Income From Continuing Operations Before Taxes	609.5	551.8	1,639.6	1,486.1
Income tax provision	109.3	107.1	348.9	455.1
Income From Continuing Operations	500.2	444.7	1,290.7	1,031.0
Income From Discontinued Operations, net of tax	0.0	43.2	0.0	42.2
Net Income	500.2	487.9	1,290.7	1,073.2
Net Income Attributable to Noncontrolling Interests of Continuing Operations	12.2	14.0	33.9	28.3
Net Income Attributable to Air Products	488.0	473.9	1,256.8	1,044.9
Net Income Attributable to Air Products
Income from continuing operations	488.0	430.7	1,256.8	1,002.7
Income from discontinued operations	0.0	43.2	0.0	42.2
Net Income Attributable to Air Products	$ 488.0	$ 473.9	$ 1,256.8	$ 1,044.9
Basic Earnings Per Common Share Attributable to Air Products
Income from continuing operations, basic (in dollars per share)	$ 2.21	$ 1.96	$ 5.71	$ 4.57
Income from discontinued operations, basic (in dollars per share)	0	0.20	0	0.19
Net Income Attributable to Air Products (in dollars per share)	2.21	2.16	5.71	4.76
Diluted Earnings Per Common Share Attributable to Air Products
Income from continuing operations, diluted (in dollars per share)	2.20	1.95	5.68	4.54
Income from discontinued operations, diluted (in dollars per share)	0	0.20	0	0.19
Net Income Attributable to Air Products (in dollars per share)	$ 2.20	$ 2.15	$ 5.68	$ 4.73
Weighted Average Common Shares - Basic (in millions)	220.6	219.5	220.2	219.3
Weighted Average Common Shares - Diluted (in millions)	221.9	220.9	221.4	220.7

Consolidated Comprehensive Income Statements (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Net Income	$ 500.2	$ 487.9	$ 1,290.7	$ 1,073.2
Other Comprehensive Income (Loss), net of tax:
Translation adjustments, net of tax	(48.8)	(392.4)	(65.6)	(130.4)
Net gain (loss) on derivatives, net of tax	7.5	27.1	(38.2)	35.4
Pension and postretirement benefits, net of tax			(3.9)	0.0
Reclassification adjustments:
Currency translation adjustment	(2.6)	0.0	(2.6)	3.1
Derivatives, net of tax	(13.1)	(17.7)	20.7	(24.4)
Pension and postretirement benefits, net of tax	14.8	26.0	48.7	75.5
Total Other Comprehensive Loss	(42.2)	(357.0)	(40.9)	(40.8)
Comprehensive Income	458.0	130.9	1,249.8	1,032.4
Net Income Attributable to Noncontrolling Interests	12.2	14.0	33.9	28.3
Other Comprehensive Loss Attributable to Noncontrolling Interests	(5.6)	(14.5)	(1.4)	(10.4)
Comprehensive Income Attributable to Air Products	$ 451.4	$ 131.4	$ 1,217.3	$ 1,014.5

Consolidated Comprehensive Income Statements (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Tax effect on translation adjustments	$ (3.3)	$ 5.2	$ 9.6	$ (14.6)
Tax effect on net gain (loss) on derivatives	4.5	8.8	(4.9)	7.5
Tax effect on pension and postretirement benefits	0.0	0.0	(0.8)	0.0
Tax effect on derivatives reclassification adjustments	(3.5)	(5.5)	7.2	(7.1)
Tax effect on pension and postretirement benefits reclassification adjustments	$ 4.8	$ 7.8	$ 15.8	$ 26.7

Consolidated Balance Sheets (Unaudited) $ in Millions, ¥ in Billions	Jun. 30, 2019 USD ($)	Sep. 30, 2018 USD ($)
Current Assets
Cash and cash items	$ 2,696.8	$ 2,791.3
Short-term investments	0.0	184.7
Trade receivables, net	1,340.7	1,207.2
Inventories	408.3	396.1
Prepaid expenses	97.2	129.6
Other receivables and current assets	372.2	373.3
Total Current Assets	4,915.2	5,082.2
Investment in net assets of and advances to equity affiliates	1,290.4	1,277.2
Plant and equipment, at cost	22,425.6	21,490.2
Less: accumulated depreciation	11,998.0	11,566.5
Plant and equipment, net	10,427.6	9,923.7
Goodwill, net	820.4	788.9
Intangible assets, net	441.1	438.5
Noncurrent capital lease receivables	938.4	1,013.3
Other noncurrent assets	698.8	654.5
Total Noncurrent Assets	14,616.7	14,096.1
Total Assets	19,531.9	19,178.3
Current Liabilities
Payables and accrued liabilities	1,543.2	1,817.8
Accrued income taxes	65.6	59.6
Short-term borrowings	79.9	54.3
Current portion of long-term debt	466.5	406.6
Total Current Liabilities	2,155.2	2,338.3
Long-term debt	2,951.7	2,967.4
Long-term debt – related party	321.6	384.3
Other noncurrent liabilities	1,553.6	1,536.9
Deferred income taxes	823.2	775.1
Total Noncurrent Liabilities	5,650.1	5,663.7
Total Liabilities	7,805.3	8,002.0
Commitments and Contingencies - See Note 12
Air Products Shareholders’ Equity
Common stock	249.4	249.4
Capital in excess of par value	1,059.9	1,029.3
Retained earnings	13,891.9	13,409.9
Accumulated other comprehensive loss	(1,781.4)	(1,741.9)
Treasury stock, at cost	(2,033.7)	(2,089.2)
Total Air Products Shareholders’ Equity	11,386.1	10,857.5
Noncontrolling Interests	340.5	318.8
Total Equity	11,726.6	11,176.3
Total Liabilities and Equity	$ 19,531.9	$ 19,178.3

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2019	Sep. 30, 2018
Air Products Shareholders’ Equity
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, issued shares	249,455,584	249,455,584
Treasury stock at cost, shares	29,100,445	29,940,339

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Operating Activities
Net Income	$ 1,290.7	$ 1,073.2
Less: Net income attributable to noncontrolling interests of continuing operations	33.9	28.3
Net income attributable to Air Products	1,256.8	1,044.9
Income from discontinued operations	0.0	(42.2)
Income from continuing operations attributable to Air Products	1,256.8	1,002.7
Adjustments to reconcile income to cash provided by operating activities:
Depreciation and amortization	789.2	713.5
Deferred income taxes	37.8	(86.9)
Tax reform repatriation	49.4	310.3
Facility closure	29.0	0.0
Undistributed earnings of unconsolidated affiliates	(56.9)	(34.8)
Gain on sale of assets and investments	(17.5)	(5.2)
Share-based compensation	31.0	30.4
Noncurrent capital lease receivables	71.7	73.7
Other adjustments	(0.7)	(23.2)
Working capital changes that provided (used) cash, excluding effects of acquisitions:
Trade receivables	(139.5)	(50.5)
Inventories	(13.5)	16.0
Other receivables	70.6	85.5
Payables and accrued liabilities	(94.8)	(164.9)
Other working capital	(9.2)	(10.4)
Cash Provided by Operating Activities	2,003.4	1,856.2
Investing Activities
Additions to plant and equipment	(1,507.6)	(1,158.1)
Acquisitions, less cash acquired	(107.0)	(320.2)
Investment in and advances to unconsolidated affiliates	(15.7)	0.0
Proceeds from sale of assets and investments	8.8	45.8
Purchases of investments	(5.3)	(349.8)
Proceeds from investments	190.5	745.2
Other investing activities	0.8	5.3
Cash Used for Investing Activities	(1,435.5)	(1,031.8)
Financing Activities
Long-term debt proceeds	0.0	0.5
Payments on long-term debt	(5.4)	(418.2)
Net increase (decrease) in commercial paper and short-term borrowings	37.7	(46.1)
Dividends paid to shareholders	(738.4)	(656.6)
Proceeds from stock option exercises	63.3	58.2
Other financing activities	(18.0)	(35.6)
Cash Used for Financing Activities	(660.8)	(1,097.8)
Discontinued Operations
Cash used for operating activities	0.0	(12.8)
Cash provided by investing activities	0.0	18.6
Cash provided by financing activities	0.0	0.0
Cash Provided by Discontinued Operations	0.0	5.8
Effect of Exchange Rate Changes on Cash	(1.6)	(19.5)
Decrease in cash and cash items	(94.5)	(287.1)
Cash and Cash items – Beginning of Year	2,791.3	3,273.6
Cash and Cash Items – End of Period	$ 2,696.8	$ 2,986.5

Consolidated Statements of Equity (Unaudited) - 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, 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	1,073.2			1,044.9			1,044.9	28.3
Other comprehensive income (loss)	(40.8)				(30.4)		(30.4)	(10.4)
Dividends on common stock	(690.3)			(690.3)			(690.3)
Dividends to noncontrolling interests	(26.0)							(26.0)
Share-based compensation	29.7		29.7				29.7
Issuance of treasury shares for stock option and award plans	45.5		(12.3)			57.8	45.5
Lu'An joint venture	227.4							227.4
Other equity transactions	5.8		1.3	(0.9)			0.4	5.4
Ending balance at Jun. 30, 2018	10,810.0	249.4	1,019.8	13,200.3	(1,877.8)	(2,105.7)	10,486.0	324.0
Beginning balance at Mar. 31, 2018	10,693.2	249.4	1,011.2	12,966.6	(1,535.3)	(2,111.1)	10,580.8	112.4
Stockholders' Equity [Roll Forward]
Net income	487.9			473.9			473.9	14.0
Other comprehensive income (loss)	(357.0)				(342.5)		(342.5)	(14.5)
Dividends on common stock	(241.2)			(241.2)			(241.2)
Dividends to noncontrolling interests	(15.4)							(15.4)
Share-based compensation	7.9		7.9				7.9
Issuance of treasury shares for stock option and award plans	5.4					5.4	5.4
Lu'An joint venture	227.4							227.4
Other equity transactions	1.8		0.7	1.0			1.7	0.1
Ending balance at Jun. 30, 2018	10,810.0	249.4	1,019.8	13,200.3	(1,877.8)	(2,105.7)	10,486.0	324.0
Beginning 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
Stockholders' Equity [Roll Forward]
Net income	1,290.7			1,256.8			1,256.8	33.9
Other comprehensive income (loss)	(40.9)				(39.5)		(39.5)	(1.4)
Dividends on common stock	(752.6)			(752.6)			(752.6)
Dividends to noncontrolling interests	(10.0)							(10.0)
Share-based compensation	30.5		30.5				30.5
Issuance of treasury shares for stock option and award plans	57.0		1.5			55.5	57.0
Cumulative change in accounting principle	(17.1)			(17.1)			(17.1)
Other equity transactions	(7.3)		(1.4)	(5.1)			(6.5)	(0.8)
Ending balance at Jun. 30, 2019	11,726.6	249.4	1,059.9	13,891.9	(1,781.4)	(2,033.7)	11,386.1	340.5
Beginning balance at Mar. 31, 2019	11,503.4	249.4	1,047.7	13,662.0	(1,744.8)	(2,048.6)	11,165.7	337.7
Stockholders' Equity [Roll Forward]
Net income	500.2			488.0			488.0	12.2
Other comprehensive income (loss)	(42.2)				(36.6)		(36.6)	(5.6)
Dividends on common stock	(255.1)			(255.1)			(255.1)
Dividends to noncontrolling interests	(3.0)							(3.0)
Share-based compensation	9.8		9.8				9.8
Issuance of treasury shares for stock option and award plans	17.3		2.4			14.9	17.3
Other equity transactions	(3.8)			(3.0)			(3.0)	(0.8)
Ending balance at Jun. 30, 2019	$ 11,726.6	$ 249.4	$ 1,059.9	$ 13,891.9	$ (1,781.4)	$ (2,033.7)	$ 11,386.1	$ 340.5

Consolidated Statements of Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Stockholders' Equity [Abstract]
Dividends per share (in dollars per share)	$ 1.16	$ 1.10	$ 3.42	$ 3.15

Basis of Presentation and Major Accounting Policies	9 Months Ended
Basis of Presentation and Major Accounting Policies	Jun. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation and Major Accounting Policies	BASIS OF PRESENTATION AND MAJOR ACCOUNTING POLICIES The interim consolidated financial statements of Air Products and Chemicals, Inc. and its subsidiaries (“we,” “our,” “us,” the “Company,” “Air Products,” or “registrant”) included herein have been prepared by us, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP) have been condensed or omitted pursuant to such rules and regulations. In our opinion, the accompanying statements reflect adjustments necessary to present fairly the financial position, results of operations, and cash flows for those periods indicated and contain adequate disclosure to make the information presented not misleading. Adjustments included herein are of a normal, recurring nature unless otherwise disclosed in the notes. The notes to the interim consolidated financial statements, unless otherwise indicated, are on a continuing operations basis. To fully understand the basis of presentation, the consolidated financial statements and related notes included herein should be read in conjunction with the consolidated financial statements and notes thereto included in our 2018 Form 10-K. Results of operations for interim periods are not necessarily indicative of the results of operations for a full year. Refer to our 2018 Form 10-K for a description of major accounting policies. In fiscal year 2019, these policies were impacted by the implementation of certain new accounting guidance, including the adoption of Accounting Standards Codification (ASC) Topic 606, Revenue from Contracts with Customers, and all related amendments (“the new revenue standard”). We adopted the new revenue standard as of 1 October 2018 under the modified retrospective approach. Comparative prior year information has not been restated and continues to be reported under the accounting standards in effect for those periods. Our updated revenue recognition policy, which reflects the principles under the new revenue standard, is discussed below. Other than the adoption of new accounting guidance as discussed in Note 2, New Accounting Guidance, there have been no notable changes to our accounting policies during the first nine months of fiscal year 2019. Certain prior year information has been reclassified to conform to the fiscal year 2019 presentation. Revenue Recognition The Company recognizes revenue when or as performance obligations are satisfied, which occurs when control is transferred to the customer. We determine the transaction price of our contracts based on the amount of consideration to which we expect to be entitled to receive in exchange for the goods or services provided. Our contracts within the scope of revenue guidance do not contain payment terms that include a significant financing component. Sales returns and allowances are not a business practice in the industry. Our sale of gas contracts are either accounted for over time during the period in which we deliver or make available the agreed upon quantity of goods or at a point in time when the customer receives and obtains control of the product, which generally occurs upon delivery. We generally recognize revenue from our sale of gas contracts based on the right to invoice practical expedient. Our sale of equipment contracts are generally comprised of a single performance obligation as the individual promised goods or services contained within the contracts are integrated with or dependent upon other goods or services in the contract for a single output to the customer. Revenue from our sale of equipment contracts is generally recognized over time as we have an enforceable right to payment for performance completed to date and our performance under the contract terms does not create an asset with alternative use. We recognize these contracts using a cost incurred input method by which costs incurred to date relative to total estimated costs at completion are used to measure progress toward satisfying performance obligations. Amounts billed for shipping and handling fees are classified as sales in the consolidated income statements. Shipping and handling activities for our sale of equipment contracts may be performed after the customer obtains control of the promised goods. In these cases, we have elected to apply the practical expedient to account for shipping and handling as activities to fulfill the promise to transfer the goods. For our sale of gas contracts, control generally transfers to the customer upon delivery. 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. For additional information, refer to Note 3, Revenue Recognition.

New Accounting Guidance	9 Months Ended
New Accounting Guidance	Jun. 30, 2019
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Guidance	NEW ACCOUNTING GUIDANCE Accounting Guidance Implemented in Fiscal Year 2019 Revenue Recognition In May 2014, the Financial Accounting Standards Board (FASB) issued the new revenue standard, which is 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 adopted this guidance under the modified retrospective approach as of 1 October 2018. Upon adoption, we no longer present "Contracts in progress, less progress billings" on our consolidated balance sheets and have expanded disclosure requirements. Otherwise, adoption of this guidance did not impact our consolidated financial statements, and no adjustment was necessary to opening retained earnings. Accordingly, sales presented during the first nine months of fiscal year 2019 would not change if presented under accounting standards in effect prior to 1 October 2018. For additional information, including the balance sheet impacts of no longer presenting "Contracts in progress, less progress billings" and expanded disclosures under the new revenue standard, refer to Note 3, Revenue Recognition. Cash Flow Statement Classification In August 2016, the FASB issued guidance to reduce diversity in practice related to the classification of certain cash receipts and cash payments in the statement of cash flows. We adopted this guidance retrospectively in the first quarter of fiscal year 2019 and elected to use the cumulative earnings approach to determine the classification of distributions received from equity affiliates. As a result, we reclassified $7.1 of net activity from operating activities to investing activities for the nine months ended 30 June 2018. 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. Previous guidance prohibited the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset had 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. We adopted this guidance in the first quarter of fiscal year 2019 on a modified retrospective basis through a cumulative-effect adjustment of $17.1 that decreased retained earnings as of 1 October 2018. New Accounting Guidance to be Implemented 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 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 using a modified retrospective approach with the election to apply the guidance as of the adoption date instead of the earliest comparative period presented in the consolidated financial statements. We expect to elect the package of practical expedients permitted under the transition guidance, which among other things, allows us to carry forward the historical lease classification. We intend to also elect the practical expedient related to land easements, allowing us to carry forward our current accounting treatment for land easements on existing agreements. In addition, we expect to elect the hindsight practical expedient to determine the reasonably certain lease term for existing leases as of the date of adoption. We are evaluating the impact the guidance will have on our consolidated financial statements. In addition, we are implementing a new software 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 evaluating the impact this guidance will have 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 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 evaluating the impact this guidance will have on our consolidated financial statements and expect to adopt this guidance at the beginning of fiscal year 2020. 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 U.S. Tax Cuts and Jobs Act. The guidance is effective in fiscal year 2020, with early adoption permitted, including adoption in an interim period. If elected, the reclassification can be applied in either the period of adoption or retrospectively to the period of the enactment of the U.S. Tax Cuts and Jobs Act (i.e., our first quarter of fiscal year 2018). We are 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 that 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 while other amendments must be applied retrospectively. We are 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 that modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement benefit plans. The guidance is effective in fiscal year 2021, with early adoption permitted, and must be applied on a retrospective basis. We are 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 that 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 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 that 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 required under current accounting standards. 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 evaluating the impact this guidance will have on our consolidated financial statements.

Revenue Recognition

9 Months Ended

Jun. 30, 2019

Revenue from Contract with Customer [Abstract]

Revenue Recognition

REVENUE RECOGNITION

Nature of Goods and Services

The principal activities from which the Company generates its sales from its contracts with customers, separated between our regional industrial gases businesses and industrial gases equipment businesses, are described below with their respective revenue recognition policies. For an overall summary of these policies and discussion on payment terms and presentation, refer to Note 1, Basis of Presentation and Major Accounting Policies.

Industrial Gases – Regional

Our regional industrial gases businesses produce and sell atmospheric gases such as oxygen, nitrogen, and argon (primarily recovered by the cryogenic distillation of air) and process gases such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases. We distribute gases to our sale of gas customers through different supply modes depending on various factors including the customer's volume requirements and location. Our supply modes are as follows:

On-Site Gases—Supply mode associated with customers who require large volumes of gases and have relatively constant demand. Gases are produced and supplied by large facilities we construct on or near the customers’ facilities or by pipeline systems from centrally located production facilities. These sale of gas contracts generally have 15- to 20- year terms. The Company also delivers smaller quantities of product through small on-site plants (cryogenic or non-cryogenic generators), typically via a 10- to 15- year sale of gas contract. The contracts within this supply mode generally contain fixed monthly charges and/or minimum purchase requirements with price escalation provisions that are generally based on external indices. Revenue associated with this supply mode is generally recognized over time during the period in which we deliver or make available the agreed upon quantity of goods.

Merchant Gases—Supply mode associated with liquid bulk and packaged gases customers. Liquid bulk customers receive delivery of product in liquid or gaseous form by tanker or tube trailer. The product is stored, usually in its liquid state, in equipment typically designed and installed by the Company at the customer’s site for vaporizing into a gaseous state as needed. Packaged gases customers receive small quantities of product delivered in either cylinders or dewars. Both liquid bulk and packaged gases sales do not contain minimum purchase requirements as they are governed by contracts and/or purchase orders based on the customer's requirements. These contracts contain stated terms that are generally 5 years or less. Performance obligations associated with this supply mode are satisfied at a point in time when the customer receives and obtains control of the product, which generally occurs upon delivery.

The timing of revenue recognition for our regional industrial gases businesses is generally consistent with our right to invoice the customer. Variable components of consideration that may not be resolved within the month, such as the ability to earn an annual bonus or incur a penalty, are more relevant to on-site contracts and are considered constrained as they can be impacted by a single significant event such as a plant outage, which could occur at the end of a contract period. We consider contract modifications on an individual basis to determine appropriate accounting treatment. However, contract modifications are generally accounted for prospectively as they relate to distinct goods or services associated with future periods of performance.

We mitigate energy and natural gas price risk contractually through pricing formulas, surcharges, and cost pass-through arrangements.

Industrial Gases – Equipment

The Company designs and manufactures equipment for air separation, hydrocarbon recovery and purification, natural gas liquefaction (LNG), and liquid helium and liquid hydrogen transport and storage. The Industrial Gases – Global and the Corporate and other segments serve our sale of equipment customers.

Our sale of equipment contracts are generally comprised of a single performance obligation as the individual promised goods or services contained within the contracts are integrated with or dependent upon other goods or services in the contract for a single output to the customer.

Revenue from our sale of equipment contracts is generally recognized over time as we have an enforceable right to payment for performance completed to date and our performance under the contract terms does not create an asset with alternative use. Otherwise, sale of equipment contracts are satisfied at the point in time the customer obtains control of the equipment, which is generally determined based on the shipping terms of the contract. For contracts recognized over time, we primarily recognize revenue using a cost incurred input method by which costs incurred to date relative to total estimated costs at completion are used to measure progress toward satisfying performance obligations. Costs incurred include material, labor, and overhead costs and represent work contributing and proportionate to the transfer of control to the customer.

Since our contracts are generally comprised of a single performance obligation, contract modifications are typically accounted for as part of the existing contract and are recognized as a cumulative adjustment for the inception-to-date effect of such change.

Disaggregation of Revenue

The table below presents our consolidated sales disaggregated by each of the supply modes described above for each of our reporting segments. We believe this presentation best depicts the nature, timing, type of customer, and contract terms for our sales.



	Industrial Gases– Americas		Industrial Gases– EMEA		Industrial Gases– Asia		Industrial Gases– Global		Corporate and other		Total		%
Three Months Ended 30 June 2019
On-site		$537.1		$165.0		$402.9		$—		$—		$1,105.0	50	%
Merchant	418.2		329.6		276.5		—		—		1,024.3		46	%
Sale of Equipment	—		—		—		57.9		36.8		94.7		4	%
Total		$955.3		$494.6		$679.4		$57.9		$36.8		$2,224.0	100	%




	Industrial Gases– Americas		Industrial Gases– EMEA		Industrial Gases– Asia		Industrial Gases– Global		Corporate and other		Total		%
Nine Months Ended 30 June 2019
On-site		$1,714.0		$565.8		$1,169.9		$—		$—		$3,449.7	52	%
Merchant	1,222.2		947.4		761.7		—		—		2,931.3		44	%
Sale of Equipment	—		—		—		179.9		74.8		254.7		4	%
Total		$2,936.2		$1,513.2		$1,931.6		$179.9		$74.8		$6,635.7	100	%

Approximately 5% and 4% of total consolidated sales for the three and nine months ended 30 June 2019, respectively, was associated with lease revenue relating to our on-site supply mode and therefore not within the scope of the new revenue standard.

Remaining Performance Obligations

As of 30 June 2019, the transaction price allocated to remaining performance obligations is estimated to be approximately $14 billion. This amount includes fixed-charge contract provisions associated with our on-site and sale of equipment supply modes. We estimate that approximately half of this revenue will be recognized over approximately the next five years and the balance thereafter.

Expected revenue associated with new on-site plants that are not yet onstream is excluded from this amount. In addition, this amount excludes consideration associated with contracts determined to be leases, those with an expected duration of less than one year, and variable consideration for which we recognize revenue at the amount to which we have the right to invoice, including pass-through costs related to energy and natural gas.

In the future, actual amounts will differ due to events outside of our control, including but not limited to inflationary price escalations, currency exchange rates, and terminated or renewed contracts.

Contract Balances

Upon adoption of the new revenue standard, we no longer present "Contracts in progress, less progress billings" on our consolidated balance sheets. The balance as of 30 September 2018 has been reclassified to "Other receivables and current assets" within this quarterly report.

Our sale of equipment contracts generally contain a single performance obligation which, as discussed below, results in presentation of either a contract asset or contract liability.

The table below summarizes the balance sheet impacts of no longer presenting "Contracts in progress, less progress billings" upon adoption of the new revenue standard on 1 October 2018:



	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

The table below details balances arising from contracts with customers as of our most recent balance sheet date and our date of adoption:



	30 June 2019		1 October 2018
Assets
Contract assets – current		$43.0		$53.0
Contract fulfillment costs – current	66.4		50.7
Liabilities
Contract liabilities – current	181.1		174.5
Contract liabilities – noncurrent	52.8		53.5

Contract assets and liabilities result from differences in timing of revenue recognition and customer invoicing. These balances are reported on the consolidated balance sheets on a contract-by-contract basis at the end of each reporting period.

Contract assets primarily relate to our sale of equipment contracts for which revenue is recognized over time. These balances represent unbilled revenue, which occurs when revenue recognized under the measure of progress exceeds the amount invoiced to our customers. Our ability to invoice the customer for contract asset balances is not only based on the passage of time, but also the achievement of certain contractual milestones. Our contract assets are included within "Other receivables and current assets" on the consolidated balance sheets.

Contract fulfillment costs primarily include deferred costs related to sale of equipment projects that cannot be inventoried and for which we expect to recognize revenue upon transfer of control at project completion or costs related to fulfilling a specific anticipated contract. Contract fulfillment costs are generally classified as current and are included within "Other receivables and current assets" on the consolidated balance sheets.

Costs to obtain a contract, or contract acquisition costs, are capitalized only after we have established a contract with the customer. We elected to apply the practical expedient to expense these costs as they are incurred if the amortization period of the asset that would have otherwise been recognized is one year or less. Our contract acquisition costs capitalized as of 30 June 2019 were not material.

Contract liabilities include advance payments or right to consideration prior to performance under the contract. Contract liabilities are recognized as revenue when or as we perform under the contract. Changes in our contract liability balances primarily relate to sale of equipment projects. During the nine months ended 30 June 2019, we recognized approximately $100 in revenue associated with sale of equipment contracts that was included within our contract liabilities as of 30 September 2018. The current and noncurrent portions of our contract liabilities are included within "Payables and accrued liabilities" and "Other noncurrent liabilities" on our consolidated balance sheets, respectively. Advanced payments from our customers do not represent a significant financing component as these payments are intended for purposes other than financing, such as to meet working capital demands or to protect us from our customer failing to meet its obligations under the terms of the contract.

Changes in contract asset and liability balances during the nine months ended 30 June 2019 were not materially impacted by any other factors.

Discontinued Operations	9 Months Ended
Discontinued Operations	Jun. 30, 2019
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	4. DISCONTINUED OPERATIONS For the three and nine months ended 30 June 2018, income from discontinued operations, net of tax, on the consolidated income statements was $43.2 and $42.2, respectively. During the third quarter of fiscal year 2018, we recorded 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. The nine months ended 30 June 2018 also includes an after-tax loss of $1.0 related to Energy-from-Waste project exit activities and administrative costs incurred during the first quarter of fiscal year 2018.

Cost Reduction Actions

9 Months Ended

Jun. 30, 2019

Restructuring and Related Activities [Abstract]

Cost Reduction Actions

COST REDUCTION ACTIONS

During the third quarter of fiscal year 2019, we recognized an expense of $25.5 for severance and other benefits associated with the elimination or planned elimination of approximately 300 positions. These actions are expected to drive cost synergies primarily within the Industrial Gases – EMEA and the Industrial Gases – Americas segments. The expense has been reflected as “Cost reduction actions” on the consolidated income statements and was excluded from segment operating income for the three and nine months ended 30 June 2019.

The following table summarizes the carrying amount of the accrual as of 30 June 2019. This amount is reflected on our consolidated balance sheets within "Payables and accrued liabilities."




2019 Charge		$25.5
Cash expenditures	(4.7		)
Amount reflected in pension liability	(.3		)
Currency translation adjustment	.1
30 June 2019		$20.6

Acquisitions	9 Months Ended
Acquisitions	Jun. 30, 2019
Acquisitions [Abstract]
Acquisitions	ACQUISITIONS Fiscal Year 2019 Business Combinations Exchange of Equity Affiliate Investments As of 30 September 2018, we held 50% ownership interests in High-Tech Gases (Beijing) Co., Ltd. ("High-Tech Gases") and WuXi Hi-Tech Gas Co., Ltd. ("WuXi"), both of which were joint ventures with another industrial gas company in China. We accounted for these arrangements as equity method investments in our Industrial Gases – Asia segment through 30 April 2019. On 1 May 2019, we acquired our partner's 50% interest in WuXi in exchange for our 50% interest in High-Tech Gases. The purpose of the exchange was to simplify the current structure of the two entities and to allow each party to serve its customers more efficiently in their respective geographies. Subsequent to the acquisition date, we own 100% of WuXi and no longer have an equity interest in High-Tech Gases. The exchange resulted in a net gain of $29.1, of which $15.0 resulted from the revaluation of our previously held equity interest in WuXi to its acquisition date fair value and $14.1 resulted from the disposition of our interest in High-Tech Gases. The net gain has been reflected as "Gain on exchange of equity affiliate investments" on our consolidated income statements and was excluded from segment operating income for the three and nine months ended 30 June 2019. There were no tax impacts on the exchange. We revalued our previously held 50% equity interest in WuXi based on an estimated acquisition date fair value of $27.0. We calculated this fair value using a discounted cash flow analysis under the income approach, which required estimates and assumptions regarding projected revenue growth, customer attrition rates, profit margin, and discount rate. The acquisition of the remaining interest in WuXi was accounted for as a business combination. The results of this business have been consolidated within our Industrial Gases – Asia segment as of the acquisition date. Upon acquisition, we recognized plant and equipment of $28.0, intangible assets of $27.6, and goodwill of $4.2. The intangible assets were primarily customer relationships, having a weighted-average useful life of approximately 10 years. The goodwill recognized on the transaction, none of which is deductible for tax purposes, was recorded in the Industrial Gases – Asia segment and is attributable to expected growth synergies. The acquisition did not materially impact our consolidated income statements for the periods presented. ACP Europe SA Acquisition On 1 March 2019, we completed the acquisition of ACP Europe SA ("ACP"), the largest independent carbon dioxide business in Continental Europe, for an aggregate purchase price, net of cash acquired, of $106.3. We expect this acquisition to enable us to better serve existing merchant customers and pursue new industrial gas growth opportunities across additional European geographies. The results of this business are consolidated within our Industrial Gases – EMEA segment and did not materially impact our consolidated income statements for the periods presented. The acquisition of ACP was accounted for as a business combination and resulted in the recognition of plant and equipment of $74.6 and goodwill of $38.0, partially offset by net liabilities acquired. The goodwill recognized on the transaction, none of which is deductible for tax purposes, was recorded in the Industrial Gases – EMEA segment and is attributable to expected growth and cost synergies. The acquired assets and liabilities resulting from our 2019 business combinations were recorded at their estimated fair values, which were calculated based on a preliminary purchase price allocation prepared by management. We may record adjustments to these assets and liabilities during the preliminary purchase price allocation period, which could be up to one year from the acquisition date. Fiscal Year 2018 Asset Acquisition On 26 April 2018 ("the acquisition date"), we completed the formation of Air Products Lu An (Changzhi) Co., Ltd. ("the JV"), a 60%-owned joint venture with Lu'An Clean Energy Company ("Lu'An"). The JV receives coal, steam, and power from Lu’An and supplies syngas to Lu’An under a long-term onsite contract. The results of the JV are consolidated within 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 2019. Long-term debt payable to Lu'An of $321.6 and $384.3 as of 30 June 2019 and 30 September 2018, respectively, is presented on the consolidated balance sheets as "Long-term debt – related party." As of 30 June 2019, $62.9 of the loan is reflected within "Current portion of long-term debt." The expected remaining cash payments are presented within "Payables and accrued liabilities" and were $80.8 and $330.0 as of 30 June 2019 and 30 September 2018, respectively. 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 that have been excluded from the consolidated statement of cash flows for the nine months ended 30 June 2018. Fiscal Year 2018 Business Combinations During the first nine months of 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 primarily consisted of three air separation units serving onsite and merchant customers in China, which strengthened our position in the region. The results of this business are consolidated within our Industrial Gases – Asia segment.

Inventories

9 Months Ended

Jun. 30, 2019

Inventory Disclosure [Abstract]

Inventories

INVENTORIES

The components of inventories are as follows:



	30 June		30 September
	2019		2018
Finished goods		$135.1		$125.4
Work in process	29.9		21.2
Raw materials, supplies and other	243.3		249.5
Inventories		$408.3		$396.1

Goodwill

9 Months Ended

Jun. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

GOODWILL

Changes to the carrying amount of consolidated goodwill by segment for the nine months ended 30 June 2019 are as follows:



	Industrial Gases– Americas			Industrial Gases– EMEA			Industrial Gases– Asia			Industrial Gases– Global			Corporate and other		Total
Goodwill, net at 30 September 2018		$162.1			$424.4			$171.9			$20.1			$10.4		$788.9
Acquisitions	—			38.0			4.2			—			—		42.2
Currency translation and other	(1.9		)	(7.5		)	(1.1		)	(.2		)	—		(10.7		)
Goodwill, net at 30 June 2019		$160.2			$454.9			$175.0			$19.9			$10.4		$820.4



	30 June			30 September
	2019			2018
Goodwill, gross		$1,212.9			$1,194.7
Accumulated impairment losses^(A)	(392.5		)	(405.8		)
Goodwill, net		$820.4			$788.9


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

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.

Financial Instruments

9 Months Ended

Jun. 30, 2019

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 seek 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 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 June 2019 is 2.3 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.

We also 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 June 2019			30 September 2018
	US$ Notional		Years Average Maturity	US$ Notional		Years Average Maturity
Forward Exchange Contracts:
Cash flow hedges		$2,656.2	0.4		$2,489.1	0.4
Net investment hedges	553.0		1.0	457.5		1.7
Not designated	921.7		0.9	1,736.1		0.8
Total Forward Exchange Contracts		$4,130.9	0.6		$4,682.7	0.7

The notional value of forward exchange contracts not designated decreased from the prior year as a result of maturities.

We also 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 was €940.4 million ($1,069.6) at 30 June 2019 and €908.8 million ($1,054.6) at 30 September 2018. The designated foreign currency-denominated debt is presented within "Long-term debt" on the consolidated balance sheets.

Debt Portfolio Management

It is our policy to identify, on a continuing basis, the need for debt capital and to evaluate the financial risks inherent in funding the Company with debt capital. Reflecting the result of this ongoing review, our debt portfolio and hedging program are managed with the 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). As of 30 June 2019, 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 non-functional 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 Indian Rupee, and U.S. Dollars and Chilean Pesos.

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



	30 June 2019							30 September 2018
	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	%	0.9		$600.0	LIBOR		2.60	%	1.6
Cross currency interest rate swaps (net investment hedge)		$246.6	4.55	%	3.09	%	2.9		$201.7	4.42	%	2.97	%	3.1
Cross currency interest rate swaps (cash flow hedge)		$1,063.5	4.85	%	2.94	%	2.2		$1,052.7	4.99	%	2.89	%	2.3
Cross currency interest rate swaps (not designated)		$29.6	4.17	%	3.61	%	4.6		$80.2	4.88	%	3.43	%	3.9

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



	Balance Sheet Location	30 June 2019		30 September 2018		Balance Sheet Location	30 June 2019		30 September 2018
Derivatives Designated as Hedging Instruments:
Forward exchange contracts	Other receivables		$28.3		$24.9	Accrued liabilities		$32.3		$37.0
Interest rate management contracts	Other receivables	14.0		24.3		Accrued liabilities	.6		2.3
Forward exchange contracts	Other noncurrent assets	27.9		19.8		Other noncurrent liabilities	.8		4.6
Interest rate management contracts	Other noncurrent assets	36.1		48.7		Other noncurrent liabilities	7.3		11.6
Total Derivatives Designated as Hedging Instruments			$106.3		$117.7			$41.0		$55.5
Derivatives Not Designated as Hedging Instruments:
Forward exchange contracts	Other receivables		$7.9		$7.9	Accrued liabilities		$13.4		$14.9
Interest rate management contracts	Other receivables	—		4.0		Accrued liabilities	—		—
Forward exchange contracts	Other noncurrent assets	22.8		16.2		Other noncurrent liabilities	26.1		23.7
Interest rate management contracts	Other noncurrent assets	.7		.3		Other noncurrent liabilities	—		—
Total Derivatives Not Designated as Hedging Instruments			$31.4		$28.4			$39.5		$38.6
Total Derivatives			$137.7		$146.1			$80.5		$94.1

Refer to Note 10, 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:



	Three Months Ended 30 June
	Forward Exchange Contracts						Foreign Currency Debt					Other ^(A)						Total
	2019			2018			2019			2018		2019			2018			2019			2018
Cash Flow Hedges, net of tax:
Net gain (loss) recognized in OCI (effective portion)		$1.7			($34.4	)		$—			$—		$5.8			$61.5			$7.5			$27.1
Net (gain) loss reclassified from OCI to sales/cost of sales (effective portion)	—			1.9			—			—		—			—			—			1.9
Net (gain) loss reclassified from OCI to other income (expense), net (effective portion)	(6.9		)	33.7			—			—		(9.7		)	(55.6		)	(16.6		)	(21.9		)
Net (gain) loss reclassified from OCI to interest expense (effective portion)	3.1			.8			—			—		.7			2.0			3.8			2.8
Net (gain) loss reclassified from OCI to other income (expense), net (ineffective portion)	(.2		)	—			—			—		(.1		)	(.5		)	(.3		)	(.5		)
Fair Value Hedges:
Net gain (loss) recognized in interest expense^(B)		$—			$—			$—			$—		$2.0			($2.1	)		$2.0			($2.1	)
Net Investment Hedges, net of tax:
Net gain (loss) recognized in OCI		($2.1	)		$16.2			($11.3	)		$44.2		$3.4			$36.9			($10.0	)		$97.3
Derivatives Not Designated as Hedging Instruments:
Net gain (loss) recognized in other income (expense), net^(C)		($.8	)		($.3	)		$—			$—		$.7			$2.2			($.1	)		$1.9




	Nine Months Ended 30 June
	Forward Exchange Contracts						Foreign Currency Debt				Other ^(A)						Total
	2019			2018			2019		2018		2019			2018			2019			2018
Cash Flow Hedges, net of tax:
Net gain (loss) recognized in OCI (effective portion)		($14.1	)		$5.0			$—		$—		($24.1	)		$30.4			($38.2	)		$35.4
Net (gain) loss reclassified from OCI to sales/cost of sales (effective portion)	.4			6.9			—		—		—			—			.4			6.9
Net (gain) loss reclassified from OCI to other income (expense), net (effective portion)	2.6			(13.2		)	—		—		6.5			(23.4		)	9.1			(36.6		)
Net (gain) loss reclassified from OCI to interest expense (effective portion)	9.4			3.0			—		—		2.0			3.3			11.4			6.3
Net (gain) loss reclassified from OCI to other income (expense), net (ineffective portion)	(.1		)	(.5		)	—		—		(.1		)	(.5		)	(.2		)	(1.0		)
Fair Value Hedges:
Net gain (loss) recognized in interest expense^(B)		$—			$—			$—		$—		$4.6			($8.9	)		$4.6			($8.9	)
Net Investment Hedges, net of tax:
Net gain (loss) recognized in OCI		$15.9			($6.5	)		$15.5		$4.7		$1.3			$2.4			$32.7			$.6
Derivatives Not Designated as Hedging Instruments:
Net gain (loss) recognized in other income (expense), net^(C)		($3.1	)		($.2	)		$—		$—		$.2			($1.3	)		($2.9	)		($1.5	)


^(A)	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 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 was largely offset by recognized gains and losses resulting from the impact of changes in exchange rates on assets and liabilities denominated in non-functional currencies.

The amount of unrealized gains and losses related to cash flow hedges as of 30 June 2019 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 $25.0 and $33.4 as of 30 June 2019 and 30 September 2018, respectively. 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 $90.9 and $97.6 as of 30 June 2019 and 30 September 2018, respectively. No financial institution is required to post collateral at this time as all have credit ratings at or above threshold.

Fair Value Measurements

9 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurements

FAIR VALUE MEASUREMENTS

Fair value is defined as an exit price, or 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 primarily include time deposits and treasury securities with original maturities greater than three months and less than one year. We estimated the fair value of our short-term investments, which approximates carrying value as of the balance sheet date, 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 consider 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 that 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 9, Financial Instruments, for a description of derivative instruments, including details related to 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 consider 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 June 2019				30 September 2018
	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets
Derivatives
Forward exchange contracts		$86.9		$86.9		$68.8		$68.8
Interest rate management contracts	50.8		50.8		77.3		77.3
Liabilities
Derivatives
Forward exchange contracts		$72.6		$72.6		$80.2		$80.2
Interest rate management contracts	7.9		7.9		13.9		13.9
Long-term debt, including current portion and related party	3,739.8		3,816.9		3,758.3		3,788.2

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 on the consolidated balance sheets that are measured at fair value on a recurring basis:



	30 June 2019								30 September 2018
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Assets at Fair Value
Derivatives
Forward exchange contracts		$86.9		$—		$86.9		$—		$68.8		$—		$68.8		$—
Interest rate management contracts	50.8		—		50.8		—		77.3		—		77.3		—
Total Assets at Fair Value		$137.7		$—		$137.7		$—		$146.1		$—		$146.1		$—
Liabilities at Fair Value
Derivatives
Forward exchange contracts		$72.6		$—		$72.6		$—		$80.2		$—		$80.2		$—
Interest rate management contracts	7.9		—		7.9		—		13.9		—		13.9		—
Total Liabilities at Fair Value		$80.5		$—		$80.5		$—		$94.1		$—		$94.1		$—

- Definition

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

9 Months Ended

Jun. 30, 2019

Retirement Benefits [Abstract]

Retirement Benefits

RETIREMENT BENEFITS

The components of net periodic benefit cost for our defined benefit pension plans for the three and nine months ended 30 June 2019 and 2018 were as follows:



	Pension Benefits
	2019						2018
Three Months Ended 30 June	U.S.			International			U.S.			International
Service cost		$5.4			$4.8			$6.4			$6.5
Interest cost	28.2			9.0			26.8			9.4
Expected return on plan assets	(43.2		)	(18.9		)	(50.4		)	(20.6		)
Prior service cost amortization	.3			—			.4			—
Actuarial loss amortization	16.3			2.7			21.8			10.2
Settlements	.3			—			1.5			—
Special termination benefits	—			—			—			—
Other	—			.2			—			.3
Net Periodic Benefit Cost		$7.3			($2.2	)		$6.5			$5.8




	Pension Benefits
	2019						2018
Nine Months Ended 30 June	U.S.			International			U.S.			International
Service cost		$16.1			$14.6			$19.2			$19.4
Interest cost	85.0			27.0			80.3			28.2
Expected return on plan assets	(129.4		)	(57.0		)	(151.2		)	(61.9		)
Prior service cost amortization	.9			.1			1.2			—
Actuarial loss amortization	48.9			8.3			65.7			30.5
Settlements	6.1			.2			4.8			—
Special termination benefits	.7			—			.4			—
Other	—			.6			—			.9
Net Periodic Benefit Cost		$28.3			($6.2	)		$20.4			$17.1

Our service costs are primarily included within "Cost of sales" and "Selling and administrative" on our consolidated income statements. The amount of service costs capitalized in fiscal years 2019 and 2018 was not material. The non-service related costs, including pension settlement losses, are presented outside operating income within "Other non-operating income (expense), net."

Certain of our pension plans provide for a lump sum benefit payment option at the time of retirement, or for corporate officers, six months after their retirement date. A participant’s vested benefit is considered settled upon cash payment of the lump sum. We recognize pension settlements to accelerate recognition of actuarial gains or losses deferred in accumulated other comprehensive loss when cash payments exceed the sum of the service and interest cost components of net periodic benefit cost of the plan for the fiscal year. Pension settlements are reflected on our consolidated income statements within “Other non-operating income (expense), net.” For the nine months ended 30 June 2019, we recognized pension settlement losses of $6.3, of which $5.0 associated with the U.S. Supplementary Pension Plan was recognized during the second quarter.

For the nine months ended 30 June 2019 and 2018, our cash contributions to funded pension plans and benefit payments under unfunded pension plans were $31.0 and $43.0, respectively. Total contributions for fiscal year 2019 are expected to be approximately $45 to $65. During fiscal year 2018, total contributions were $68.3.

U.K. Lloyds Pensions Equalization Ruling

On 26 October 2018, the United Kingdom High Court issued a ruling related to the equalization of pension plan participants’ benefits for the gender effects of Guaranteed Minimum Pensions. As a result of this ruling, we estimated the impact of retroactively increasing benefits in our U.K. plan in accordance with the High Court ruling. We treated the additional benefits as a prior service cost, which resulted in an increase to our projected benefit obligation and accumulated other comprehensive loss of $4.7 during the first quarter of fiscal year 2019. We will amortize this cost over the average remaining life expectancy of the U.K. participants. Given the immaterial effect on the U.K. plan's projected benefit, an interim remeasurement was not performed.

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
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 $47 at 30 June 2019) 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 $47 at 30 June 2019) 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 June 2019 and 30 September 2018 included an accrual of $71.1 and $76.8, 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 $71 to a reasonably possible upper exposure of $84 as of 30 June 2019. 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 June 2019, $24.7 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 June 2019, $14.9 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 June 2019, $11.8 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.

Share-Based Compensation

9 Months Ended

Jun. 30, 2019

Share-based Payment Arrangement [Abstract]

Share-Based Compensation

SHARE-BASED COMPENSATION

We have various share-based compensation programs, which include deferred stock units, stock options, and restricted stock. During the nine months ended 30 June 2019, we granted market-based and time-based deferred stock units. 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. As of 30 June 2019, there were 4,473,615 shares available for future grant under our Long-Term Incentive Plan (LTIP), which is shareholder approved.

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



	Three Months Ended						Nine Months Ended
	30 June						30 June
	2019			2018			2019			2018
Before-tax share-based compensation cost		$9.8			$7.9			$31.0			$30.4
Income tax benefit	(2.3		)	(1.9		)	(7.3		)	(7.2		)
After-tax share-based compensation cost		$7.5			$6.0			$23.7			$23.2

Before-tax share-based compensation cost is primarily included in "Selling and administrative" on our consolidated income statements. The amount of share-based compensation cost capitalized in the first nine months of fiscal years 2019 and 2018 was not material.

Deferred Stock Units

During the nine months ended 30 June 2019, we granted 114,929 market-based deferred stock units. The market-based deferred stock units are earned at the end of the performance period beginning 1 October 2018 and ending 30 September 2021, conditioned on the level of the Company’s total shareholder return in relation to a defined peer group over the three-year performance period.

The market-based deferred stock units had an estimated grant-date fair value of $229.61 per unit, which was estimated using a Monte Carlo simulation model. 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 calculation of the fair value of market-based deferred stock units used the following assumptions:



Expected volatility	17.5	%
Risk-free interest rate	2.8	%
Expected dividend yield	2.6	%

In addition, during the nine months ended 30 June 2019, we granted 166,119 time-based deferred stock units at a weighted average grant-date fair value of $167.82.

Accumulated Other Comprehensive Loss

9 Months Ended

Jun. 30, 2019

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

Accumulated Other Comprehensive Loss

ACCUMULATED OTHER COMPREHENSIVE LOSS

The tables below summarize changes in accumulated other comprehensive loss (AOCL), net of tax, attributable to Air Products for the three and nine months ended 30 June 2019:



	Derivatives qualifying as hedges			Foreign currency translation adjustments			Pension and postretirement benefits			Total
Balance at 31 March 2019		($49.5	)		($1,030.8	)		($664.5	)		($1,744.8	)
Other comprehensive income (loss) before reclassifications	7.5			(48.8		)	—			(41.3		)
Amounts reclassified from AOCL	(13.1		)	(2.6		)	14.8			(.9		)
Net current period other comprehensive income (loss)	(5.6		)	(51.4		)	14.8			(42.2		)
Amount attributable to noncontrolling interests	.1			(5.7		)	—			(5.6		)
Balance at 30 June 2019		($55.2	)		($1,076.5	)		($649.7	)		($1,781.4	)




	Derivatives qualifying as hedges			Foreign currency translation adjustments			Pension and postretirement benefits			Total
Balance at 30 September 2018		($37.6	)		($1,009.8	)		($694.5	)		($1,741.9	)
Other comprehensive loss before reclassifications	(38.2		)	(65.6		)	(3.9		)	(107.7		)
Amounts reclassified from AOCL	20.7			(2.6		)	48.7			66.8
Net current period other comprehensive income (loss)	(17.5		)	(68.2		)	44.8			(40.9		)
Amount attributable to noncontrolling interests	.1			(1.5		)	—			(1.4		)
Balance at 30 June 2019		($55.2	)		($1,076.5	)		($649.7	)		($1,781.4	)

The table below summarizes the reclassifications out of AOCL and the affected line item on the consolidated income statements:



	Three Months Ended						Nine Months Ended
	30 June						30 June
	2019			2018			2019			2018
(Gain) Loss on Cash Flow Hedges, net of tax
Sales/Cost of sales		$—			$1.9			$.4			$6.9
Other income/expense, net	(16.9		)	(22.4		)	8.9			(37.6		)
Interest expense	3.8			2.8			11.4			6.3
Total (Gain) Loss on Cash Flow Hedges, net of tax		($13.1	)		($17.7	)		$20.7			($24.4	)

Currency Translation Adjustment
Cost of sales^(A)		$—			$—			$—			$3.1
Gain on exchange of equity affiliate investments^(B)	(2.6		)	—			(2.6		)	—
Total Currency Translation Adjustment		($2.6	)		$—			($2.6	)		$3.1

Pension and Postretirement Benefits, net of tax^(C)		$14.8			$26.0			$48.7			$75.5


^(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 2019 impact relates to a net gain on the exchange of two equity affiliates with a joint venture partner. Refer to Note 6, Acquisitions, for additional information.

^(C)

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 11, Retirement Benefits, for additional information.

Earnings Per Share

9 Months Ended

Jun. 30, 2019

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):



	Three Months Ended				Nine Months Ended
	30 June				30 June
	2019		2018		2019		2018
Numerator
Income from continuing operations		$488.0		$430.7		$1,256.8		$1,002.7
Income from discontinued operations	—		43.2		—		42.2
Net Income Attributable to Air Products		$488.0		$473.9		$1,256.8		$1,044.9
Denominator (in millions)
Weighted average common shares — Basic	220.6		219.5		220.2		219.3
Effect of dilutive securities
Employee stock option and other award plans	1.3		1.4		1.2		1.4
Weighted average common shares — Diluted	221.9		220.9		221.4		220.7
Basic EPS Attributable to Air Products
Income from continuing operations		$2.21		$1.96		$5.71		$4.57
Income from discontinued operations	—		.20		—		.19
Net Income Attributable to Air Products		$2.21		$2.16		$5.71		$4.76
Diluted EPS Attributable to Air Products
Income from continuing operations		$2.20		$1.95		$5.68		$4.54
Income from discontinued operations	—		.20		—		.19
Net Income Attributable to Air Products		$2.20		$2.15		$5.68		$4.73

For the three and nine months ended 30 June 2019, there were no antidilutive outstanding share-based awards. For the three months ended 30 June 2018, there were no antidilutive outstanding share-based awards. Outstanding share-based awards of .1 million were antidilutive and therefore excluded from the computation of diluted EPS for the nine months ended 30 June 2018.

Income Taxes	9 Months Ended
Income Taxes	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES U.S. Tax Cuts and Jobs Act The United States enacted the U.S. Tax Cuts and Jobs Act (the "Tax Act") on 22 December 2017. This legislation significantly changed existing U.S. tax laws, including a reduction in the federal corporate income tax rate from 35% to 21%, a deemed repatriation tax on unremitted foreign earnings, as well as other changes. We filed our 2018 federal income tax return in June 2019, which required an adjustment to our initial calculation of the deemed repatriation tax. Our income tax provision for the three months ended 30 June 2019 includes a discrete net income tax expense of $3.2 resulting from this adjustment. Our income tax provision for the nine months ended 30 June 2019 includes a net expense of $43.8, which reflects the net expense recorded to refine our estimates in the first quarter of 2019, within the one-year measurement period. This net expense included the reversal of a $56.2 benefit recorded in the fourth quarter of fiscal year 2018 related to the U.S. taxation of deemed foreign dividends and a benefit of $12.4 to reduce the total expected costs of the deemed repatriation tax. For the nine months ended 30 June 2018, our consolidated income statements reflect the impacts recorded during the first quarter of fiscal year 2018, which include a discrete net income tax expense of $206.5 for our initial provisional estimates of the impacts of the Tax Act and a reduction to equity affiliates' income of $32.5 for future costs of repatriation related to the Tax Act that will be borne by an equity affiliate. While our accounting for the provisions of the Tax Act is not provisional, further adjustments to the deemed repatriation tax could result from future adjustments to state tax return filing positions, U.S. or foreign tax examinations of the years impacted by the calculation, or from the issuance of additional federal or state guidance. 2018 Tax Restructuring and Audit Settlement In the second quarter of fiscal year 2018, we recognized a $38.8 tax benefit, net of reserves for uncertain tax positions, and a decrease in net deferred tax liabilities resulting from the restructuring of foreign subsidiaries. In the third quarter of fiscal year 2018 we received a final audit settlement agreement that resulted in an income tax benefit of approximately $9.1, including interest, in continuing operations during the three months ended 30 June 2018 for the release of tax reserves. Effective Tax Rate Our effective tax rate was 17.9% and 21.3% for the three and nine months ended 30 June 2019, respectively. Our effective tax rate was 19.4% and 30.6% for the three and nine months ended 30 June 2018, respectively. The current and prior year effective tax rates were primarily impacted by the Tax Act, restructuring benefit, and audit settlement items discussed above. Cash Paid for Taxes (Net of Cash Refunds) On a total company basis, income tax payments, net of refunds, were $250.8 and $319.1 for the nine months ended 30 June 2019 and 2018, respectively.

Supplemental Information	9 Months Ended
Supplemental Information	Jun. 30, 2019
Disclosure Text Block Supplement [Abstract]
Supplemental Information	SUPPLEMENTAL INFORMATION Facility Closure In December 2018, one of our customers was subject to a government enforced shutdown due to environmental reasons. As a result, we recognized a charge of $29.0 during the first quarter of fiscal year 2019 primarily related to the write-off of onsite assets. This charge is reflected as “Facility closure” on our consolidated income statements for the nine months ended 30 June 2019 and has been excluded from segment results. Annual sales and operating income associated with this customer prior to the facility closure were not material to the Industrial Gases – Asia segment. We do not expect to recognize additional charges related to this shutdown. Related Party Sales We have related party sales to some of our equity affiliates and joint venture partners. Sales to related parties totaled approximately $80 and $245 for the three and nine months ended 30 June 2019, respectively, and $70 and $245 for the three and nine months ended 30 June 2018, respectively. 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.

Business Segment Information

9 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Business Segment Information

BUSINESS SEGMENT 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 segments 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 – Americas		Industrial Gases – EMEA		Industrial Gases – Asia		Industrial Gases – Global			Corporate and other			Segment Total
Three Months Ended 30 June 2019
Sales		$955.3		$494.6		$679.4		$57.9			$36.8			$2,224.0
Operating income (loss)	262.2		123.4		231.4		(9.6		)	(41.3		)	566.1
Depreciation and amortization	126.3		47.8		87.9		2.2			4.9			269.1
Equity affiliates' income	21.7		18.8		14.9		1.0			—			56.4
Three Months Ended 30 June 2018
Sales		$948.7		$561.1		$623.8		$101.1			$24.3			$2,259.0
Operating income (loss)	237.1		118.8		185.5		19.8			(45.4		)	515.8
Depreciation and amortization	120.5		49.8		69.5		2.3			3.5			245.6
Equity affiliates' income	24.1		17.5		15.1		1.4			—			58.1




	Industrial Gases – Americas		Industrial Gases – EMEA		Industrial Gases – Asia		Industrial Gases – Global			Corporate and other			Segment Total
Nine Months Ended 30 June 2019
Sales		$2,936.2		$1,513.2		$1,931.6		$179.9			$74.8			$6,635.7
Operating income (loss)	737.0		351.5		632.9		(17.9		)	(136.9		)	1,566.6
Depreciation and amortization	376.8		140.4		252.7		6.3			13.0			789.2
Equity affiliates' income	62.1		45.8		44.9		2.7			—			155.5
Nine Months Ended 30 June 2018
Sales		$2,771.7		$1,638.6		$1,825.0		$335.8			$60.2			$6,631.3
Operating income (loss)	676.6		340.0		509.7		41.4			(135.8		)	1,431.9
Depreciation and amortization	360.6		149.6		188.9		5.8			8.6			713.5
Equity affiliates' income	59.6		41.7		44.7		2.1			—			148.1
Total Assets
30 June 2019		$5,896.6		$3,399.7		$6,357.6		$284.3			$3,593.7			$19,531.9
30 September 2018	5,904.0		3,280.4		5,899.5		240.1			3,854.3			19,178.3

The sales information noted above relates to external customers only. All intersegment sales are eliminated in consolidation. 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 industrial gases segments is generally transferred at cost and not reflected as an intersegment sale.

Changes in estimates on projects accounted for under the cost incurred input method are recognized as a cumulative adjustment for the inception-to-date effect of such change. For the nine months ended 30 June 2019 and 2018, changes in estimates favorably impacted operating income by approximately $15 and $25, respectively.

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




	Three Months Ended					Nine Months Ended
	30 June					30 June
Operating Income	2019			2018		2019			2018
Segment total		$566.1			$515.8		$1,566.6			$1,431.9
Facility closure	—			—		(29.0		)	—
Cost reduction actions	(25.5		)	—		(25.5		)	—
Gain on exchange of equity affiliate investments	29.1			—		29.1			—
Consolidated Total		$569.7			$515.8		$1,541.2			$1,431.9

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



	Three Months Ended				Nine Months Ended
	30 June				30 June
Equity Affiliates' Income	2019		2018		2019		2018
Segment total		$56.4		$58.1		$155.5		$148.1
Tax reform repatriation - equity method investment	—		—		—		(32.5		)
Consolidated Total		$56.4		$58.1		$155.5		$115.6

Basis of Presentation and Major Accounting Policies (Policies)	9 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Revenue Recognition	Revenue Recognition The Company recognizes revenue when or as performance obligations are satisfied, which occurs when control is transferred to the customer. We determine the transaction price of our contracts based on the amount of consideration to which we expect to be entitled to receive in exchange for the goods or services provided. Our contracts within the scope of revenue guidance do not contain payment terms that include a significant financing component. Sales returns and allowances are not a business practice in the industry. Our sale of gas contracts are either accounted for over time during the period in which we deliver or make available the agreed upon quantity of goods or at a point in time when the customer receives and obtains control of the product, which generally occurs upon delivery. We generally recognize revenue from our sale of gas contracts based on the right to invoice practical expedient. Our sale of equipment contracts are generally comprised of a single performance obligation as the individual promised goods or services contained within the contracts are integrated with or dependent upon other goods or services in the contract for a single output to the customer. Revenue from our sale of equipment contracts is generally recognized over time as we have an enforceable right to payment for performance completed to date and our performance under the contract terms does not create an asset with alternative use. We recognize these contracts using a cost incurred input method by which costs incurred to date relative to total estimated costs at completion are used to measure progress toward satisfying performance obligations. Amounts billed for shipping and handling fees are classified as sales in the consolidated income statements. Shipping and handling activities for our sale of equipment contracts may be performed after the customer obtains control of the promised goods. In these cases, we have elected to apply the practical expedient to account for shipping and handling as activities to fulfill the promise to transfer the goods. For our sale of gas contracts, control generally transfers to the customer upon delivery. 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. For additional information, refer to Note 3, Revenue Recognition.

Revenue Recognition (Tables)

9 Months Ended

Jun. 30, 2019

Revenue from Contract with Customer [Abstract]

Disaggregation of revenue



	Industrial Gases– Americas		Industrial Gases– EMEA		Industrial Gases– Asia		Industrial Gases– Global		Corporate and other		Total		%
Three Months Ended 30 June 2019
On-site		$537.1		$165.0		$402.9		$—		$—		$1,105.0	50	%
Merchant	418.2		329.6		276.5		—		—		1,024.3		46	%
Sale of Equipment	—		—		—		57.9		36.8		94.7		4	%
Total		$955.3		$494.6		$679.4		$57.9		$36.8		$2,224.0	100	%




	Industrial Gases– Americas		Industrial Gases– EMEA		Industrial Gases– Asia		Industrial Gases– Global		Corporate and other		Total		%
Nine Months Ended 30 June 2019
On-site		$1,714.0		$565.8		$1,169.9		$—		$—		$3,449.7	52	%
Merchant	1,222.2		947.4		761.7		—		—		2,931.3		44	%
Sale of Equipment	—		—		—		179.9		74.8		254.7		4	%
Total		$2,936.2		$1,513.2		$1,931.6		$179.9		$74.8		$6,635.7	100	%

Balance sheet impacts upon adoption of the new revenue standard

The table below summarizes the balance sheet impacts of no longer presenting "Contracts in progress, less progress billings" upon adoption of the new revenue standard on 1 October 2018:



	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

Contract assets and liabilities

The table below details balances arising from contracts with customers as of our most recent balance sheet date and our date of adoption:



	30 June 2019		1 October 2018
Assets
Contract assets – current		$43.0		$53.0
Contract fulfillment costs – current	66.4		50.7
Liabilities
Contract liabilities – current	181.1		174.5
Contract liabilities – noncurrent	52.8		53.5

Cost Reduction Actions (Tables)

9 Months Ended

Jun. 30, 2019

Restructuring and Related Activities [Abstract]

Summary of Carrying Amount of Accrual for Cost Reduction Actions

The following table summarizes the carrying amount of the accrual as of 30 June 2019. This amount is reflected on our consolidated balance sheets within "Payables and accrued liabilities."




2019 Charge		$25.5
Cash expenditures	(4.7		)
Amount reflected in pension liability	(.3		)
Currency translation adjustment	.1
30 June 2019		$20.6

Inventories (Tables)

9 Months Ended

Jun. 30, 2019

Inventory Disclosure [Abstract]

Schedule of Inventory

The components of inventories are as follows:



	30 June		30 September
	2019		2018
Finished goods		$135.1		$125.4
Work in process	29.9		21.2
Raw materials, supplies and other	243.3		249.5
Inventories		$408.3		$396.1

Goodwill (Tables)

9 Months Ended

Jun. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

Changes to the carrying amount of consolidated goodwill by segment for the nine months ended 30 June 2019 are as follows:



	Industrial Gases– Americas			Industrial Gases– EMEA			Industrial Gases– Asia			Industrial Gases– Global			Corporate and other		Total
Goodwill, net at 30 September 2018		$162.1			$424.4			$171.9			$20.1			$10.4		$788.9
Acquisitions	—			38.0			4.2			—			—		42.2
Currency translation and other	(1.9		)	(7.5		)	(1.1		)	(.2		)	—		(10.7		)
Goodwill, net at 30 June 2019		$160.2			$454.9			$175.0			$19.9			$10.4		$820.4



	30 June			30 September
	2019			2018
Goodwill, gross		$1,212.9			$1,194.7
Accumulated impairment losses^(A)	(392.5		)	(405.8		)
Goodwill, net		$820.4			$788.9


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

Financial Instruments (Tables)

9 Months Ended

Jun. 30, 2019

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 June 2019							30 September 2018
	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	%	0.9		$600.0	LIBOR		2.60	%	1.6
Cross currency interest rate swaps (net investment hedge)		$246.6	4.55	%	3.09	%	2.9		$201.7	4.42	%	2.97	%	3.1
Cross currency interest rate swaps (cash flow hedge)		$1,063.5	4.85	%	2.94	%	2.2		$1,052.7	4.99	%	2.89	%	2.3
Cross currency interest rate swaps (not designated)		$29.6	4.17	%	3.61	%	4.6		$80.2	4.88	%	3.43	%	3.9

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



	30 June 2019			30 September 2018
	US$ Notional		Years Average Maturity	US$ Notional		Years Average Maturity
Forward Exchange Contracts:
Cash flow hedges		$2,656.2	0.4		$2,489.1	0.4
Net investment hedges	553.0		1.0	457.5		1.7
Not designated	921.7		0.9	1,736.1		0.8
Total Forward Exchange Contracts		$4,130.9	0.6		$4,682.7	0.7

Fair Value of Derivative Instruments

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



	Balance Sheet Location	30 June 2019		30 September 2018		Balance Sheet Location	30 June 2019		30 September 2018
Derivatives Designated as Hedging Instruments:
Forward exchange contracts	Other receivables		$28.3		$24.9	Accrued liabilities		$32.3		$37.0
Interest rate management contracts	Other receivables	14.0		24.3		Accrued liabilities	.6		2.3
Forward exchange contracts	Other noncurrent assets	27.9		19.8		Other noncurrent liabilities	.8		4.6
Interest rate management contracts	Other noncurrent assets	36.1		48.7		Other noncurrent liabilities	7.3		11.6
Total Derivatives Designated as Hedging Instruments			$106.3		$117.7			$41.0		$55.5
Derivatives Not Designated as Hedging Instruments:
Forward exchange contracts	Other receivables		$7.9		$7.9	Accrued liabilities		$13.4		$14.9
Interest rate management contracts	Other receivables	—		4.0		Accrued liabilities	—		—
Forward exchange contracts	Other noncurrent assets	22.8		16.2		Other noncurrent liabilities	26.1		23.7
Interest rate management contracts	Other noncurrent assets	.7		.3		Other noncurrent liabilities	—		—
Total Derivatives Not Designated as Hedging Instruments			$31.4		$28.4			$39.5		$38.6
Total Derivatives			$137.7		$146.1			$80.5		$94.1

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:



	Three Months Ended 30 June
	Forward Exchange Contracts						Foreign Currency Debt					Other ^(A)						Total
	2019			2018			2019			2018		2019			2018			2019			2018
Cash Flow Hedges, net of tax:
Net gain (loss) recognized in OCI (effective portion)		$1.7			($34.4	)		$—			$—		$5.8			$61.5			$7.5			$27.1
Net (gain) loss reclassified from OCI to sales/cost of sales (effective portion)	—			1.9			—			—		—			—			—			1.9
Net (gain) loss reclassified from OCI to other income (expense), net (effective portion)	(6.9		)	33.7			—			—		(9.7		)	(55.6		)	(16.6		)	(21.9		)
Net (gain) loss reclassified from OCI to interest expense (effective portion)	3.1			.8			—			—		.7			2.0			3.8			2.8
Net (gain) loss reclassified from OCI to other income (expense), net (ineffective portion)	(.2		)	—			—			—		(.1		)	(.5		)	(.3		)	(.5		)
Fair Value Hedges:
Net gain (loss) recognized in interest expense^(B)		$—			$—			$—			$—		$2.0			($2.1	)		$2.0			($2.1	)
Net Investment Hedges, net of tax:
Net gain (loss) recognized in OCI		($2.1	)		$16.2			($11.3	)		$44.2		$3.4			$36.9			($10.0	)		$97.3
Derivatives Not Designated as Hedging Instruments:
Net gain (loss) recognized in other income (expense), net^(C)		($.8	)		($.3	)		$—			$—		$.7			$2.2			($.1	)		$1.9




	Nine Months Ended 30 June
	Forward Exchange Contracts						Foreign Currency Debt				Other ^(A)						Total
	2019			2018			2019		2018		2019			2018			2019			2018
Cash Flow Hedges, net of tax:
Net gain (loss) recognized in OCI (effective portion)		($14.1	)		$5.0			$—		$—		($24.1	)		$30.4			($38.2	)		$35.4
Net (gain) loss reclassified from OCI to sales/cost of sales (effective portion)	.4			6.9			—		—		—			—			.4			6.9
Net (gain) loss reclassified from OCI to other income (expense), net (effective portion)	2.6			(13.2		)	—		—		6.5			(23.4		)	9.1			(36.6		)
Net (gain) loss reclassified from OCI to interest expense (effective portion)	9.4			3.0			—		—		2.0			3.3			11.4			6.3
Net (gain) loss reclassified from OCI to other income (expense), net (ineffective portion)	(.1		)	(.5		)	—		—		(.1		)	(.5		)	(.2		)	(1.0		)
Fair Value Hedges:
Net gain (loss) recognized in interest expense^(B)		$—			$—			$—		$—		$4.6			($8.9	)		$4.6			($8.9	)
Net Investment Hedges, net of tax:
Net gain (loss) recognized in OCI		$15.9			($6.5	)		$15.5		$4.7		$1.3			$2.4			$32.7			$.6
Derivatives Not Designated as Hedging Instruments:
Net gain (loss) recognized in other income (expense), net^(C)		($3.1	)		($.2	)		$—		$—		$.2			($1.3	)		($2.9	)		($1.5	)


^(A)	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 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 was largely offset by recognized gains and losses resulting from the impact of changes in exchange rates on assets and liabilities denominated in non-functional currencies.

Fair Value Measurements (Tables)

9 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Schedule of Carrying Value and Fair Value of Financial Instruments

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



	30 June 2019				30 September 2018
	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets
Derivatives
Forward exchange contracts		$86.9		$86.9		$68.8		$68.8
Interest rate management contracts	50.8		50.8		77.3		77.3
Liabilities
Derivatives
Forward exchange contracts		$72.6		$72.6		$80.2		$80.2
Interest rate management contracts	7.9		7.9		13.9		13.9
Long-term debt, including current portion and related party	3,739.8		3,816.9		3,758.3		3,788.2

Schedule of Fair Value Assets and Liabilities Measured On Recurring Basis

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



	30 June 2019								30 September 2018
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Assets at Fair Value
Derivatives
Forward exchange contracts		$86.9		$—		$86.9		$—		$68.8		$—		$68.8		$—
Interest rate management contracts	50.8		—		50.8		—		77.3		—		77.3		—
Total Assets at Fair Value		$137.7		$—		$137.7		$—		$146.1		$—		$146.1		$—
Liabilities at Fair Value
Derivatives
Forward exchange contracts		$72.6		$—		$72.6		$—		$80.2		$—		$80.2		$—
Interest rate management contracts	7.9		—		7.9		—		13.9		—		13.9		—
Total Liabilities at Fair Value		$80.5		$—		$80.5		$—		$94.1		$—		$94.1		$—

Retirement Benefits (Tables)

9 Months Ended

Jun. 30, 2019

Retirement Benefits [Abstract]

Schedule of Net Periodic Benefit Cost

The components of net periodic benefit cost for our defined benefit pension plans for the three and nine months ended 30 June 2019 and 2018 were as follows:



	Pension Benefits
	2019						2018
Three Months Ended 30 June	U.S.			International			U.S.			International
Service cost		$5.4			$4.8			$6.4			$6.5
Interest cost	28.2			9.0			26.8			9.4
Expected return on plan assets	(43.2		)	(18.9		)	(50.4		)	(20.6		)
Prior service cost amortization	.3			—			.4			—
Actuarial loss amortization	16.3			2.7			21.8			10.2
Settlements	.3			—			1.5			—
Special termination benefits	—			—			—			—
Other	—			.2			—			.3
Net Periodic Benefit Cost		$7.3			($2.2	)		$6.5			$5.8




	Pension Benefits
	2019						2018
Nine Months Ended 30 June	U.S.			International			U.S.			International
Service cost		$16.1			$14.6			$19.2			$19.4
Interest cost	85.0			27.0			80.3			28.2
Expected return on plan assets	(129.4		)	(57.0		)	(151.2		)	(61.9		)
Prior service cost amortization	.9			.1			1.2			—
Actuarial loss amortization	48.9			8.3			65.7			30.5
Settlements	6.1			.2			4.8			—
Special termination benefits	.7			—			.4			—
Other	—			.6			—			.9
Net Periodic Benefit Cost		$28.3			($6.2	)		$20.4			$17.1

Share-Based Compensation (Tables)

9 Months Ended

Jun. 30, 2019

Share-based Payment Arrangement [Abstract]

Schedule of Recognized Share-Based Compensation Cost

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



	Three Months Ended						Nine Months Ended
	30 June						30 June
	2019			2018			2019			2018
Before-tax share-based compensation cost		$9.8			$7.9			$31.0			$30.4
Income tax benefit	(2.3		)	(1.9		)	(7.3		)	(7.2		)
After-tax share-based compensation cost		$7.5			$6.0			$23.7			$23.2

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

The calculation of the fair value of market-based deferred stock units used the following assumptions:



Expected volatility	17.5	%
Risk-free interest rate	2.8	%
Expected dividend yield	2.6	%

Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Jun. 30, 2019

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

Schedule of Accumulated Other Comprehensive Income (Loss)

The tables below summarize changes in accumulated other comprehensive loss (AOCL), net of tax, attributable to Air Products for the three and nine months ended 30 June 2019:



	Derivatives qualifying as hedges			Foreign currency translation adjustments			Pension and postretirement benefits			Total
Balance at 31 March 2019		($49.5	)		($1,030.8	)		($664.5	)		($1,744.8	)
Other comprehensive income (loss) before reclassifications	7.5			(48.8		)	—			(41.3		)
Amounts reclassified from AOCL	(13.1		)	(2.6		)	14.8			(.9		)
Net current period other comprehensive income (loss)	(5.6		)	(51.4		)	14.8			(42.2		)
Amount attributable to noncontrolling interests	.1			(5.7		)	—			(5.6		)
Balance at 30 June 2019		($55.2	)		($1,076.5	)		($649.7	)		($1,781.4	)




	Derivatives qualifying as hedges			Foreign currency translation adjustments			Pension and postretirement benefits			Total
Balance at 30 September 2018		($37.6	)		($1,009.8	)		($694.5	)		($1,741.9	)
Other comprehensive loss before reclassifications	(38.2		)	(65.6		)	(3.9		)	(107.7		)
Amounts reclassified from AOCL	20.7			(2.6		)	48.7			66.8
Net current period other comprehensive income (loss)	(17.5		)	(68.2		)	44.8			(40.9		)
Amount attributable to noncontrolling interests	.1			(1.5		)	—			(1.4		)
Balance at 30 June 2019		($55.2	)		($1,076.5	)		($649.7	)		($1,781.4	)

Schedule of Reclassification out of Accumulated Other Comprehensive Income (Loss)

The table below summarizes the reclassifications out of AOCL and the affected line item on the consolidated income statements:



	Three Months Ended						Nine Months Ended
	30 June						30 June
	2019			2018			2019			2018
(Gain) Loss on Cash Flow Hedges, net of tax
Sales/Cost of sales		$—			$1.9			$.4			$6.9
Other income/expense, net	(16.9		)	(22.4		)	8.9			(37.6		)
Interest expense	3.8			2.8			11.4			6.3
Total (Gain) Loss on Cash Flow Hedges, net of tax		($13.1	)		($17.7	)		$20.7			($24.4	)

Currency Translation Adjustment
Cost of sales^(A)		$—			$—			$—			$3.1
Gain on exchange of equity affiliate investments^(B)	(2.6		)	—			(2.6		)	—
Total Currency Translation Adjustment		($2.6	)		$—			($2.6	)		$3.1

Pension and Postretirement Benefits, net of tax^(C)		$14.8			$26.0			$48.7			$75.5


^(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 2019 impact relates to a net gain on the exchange of two equity affiliates with a joint venture partner. Refer to Note 6, Acquisitions, for additional information.

^(C)

Earnings Per Share (Tables)

9 Months Ended

Jun. 30, 2019

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):



	Three Months Ended				Nine Months Ended
	30 June				30 June
	2019		2018		2019		2018
Numerator
Income from continuing operations		$488.0		$430.7		$1,256.8		$1,002.7
Income from discontinued operations	—		43.2		—		42.2
Net Income Attributable to Air Products		$488.0		$473.9		$1,256.8		$1,044.9
Denominator (in millions)
Weighted average common shares — Basic	220.6		219.5		220.2		219.3
Effect of dilutive securities
Employee stock option and other award plans	1.3		1.4		1.2		1.4
Weighted average common shares — Diluted	221.9		220.9		221.4		220.7
Basic EPS Attributable to Air Products
Income from continuing operations		$2.21		$1.96		$5.71		$4.57
Income from discontinued operations	—		.20		—		.19
Net Income Attributable to Air Products		$2.21		$2.16		$5.71		$4.76
Diluted EPS Attributable to Air Products
Income from continuing operations		$2.20		$1.95		$5.68		$4.54
Income from discontinued operations	—		.20		—		.19
Net Income Attributable to Air Products		$2.20		$2.15		$5.68		$4.73

Business Segment Information (Tables)

9 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment



	Industrial Gases – Americas		Industrial Gases – EMEA		Industrial Gases – Asia		Industrial Gases – Global			Corporate and other			Segment Total
Three Months Ended 30 June 2019
Sales		$955.3		$494.6		$679.4		$57.9			$36.8			$2,224.0
Operating income (loss)	262.2		123.4		231.4		(9.6		)	(41.3		)	566.1
Depreciation and amortization	126.3		47.8		87.9		2.2			4.9			269.1
Equity affiliates' income	21.7		18.8		14.9		1.0			—			56.4
Three Months Ended 30 June 2018
Sales		$948.7		$561.1		$623.8		$101.1			$24.3			$2,259.0
Operating income (loss)	237.1		118.8		185.5		19.8			(45.4		)	515.8
Depreciation and amortization	120.5		49.8		69.5		2.3			3.5			245.6
Equity affiliates' income	24.1		17.5		15.1		1.4			—			58.1




	Industrial Gases – Americas		Industrial Gases – EMEA		Industrial Gases – Asia		Industrial Gases – Global			Corporate and other			Segment Total
Nine Months Ended 30 June 2019
Sales		$2,936.2		$1,513.2		$1,931.6		$179.9			$74.8			$6,635.7
Operating income (loss)	737.0		351.5		632.9		(17.9		)	(136.9		)	1,566.6
Depreciation and amortization	376.8		140.4		252.7		6.3			13.0			789.2
Equity affiliates' income	62.1		45.8		44.9		2.7			—			155.5
Nine Months Ended 30 June 2018
Sales		$2,771.7		$1,638.6		$1,825.0		$335.8			$60.2			$6,631.3
Operating income (loss)	676.6		340.0		509.7		41.4			(135.8		)	1,431.9
Depreciation and amortization	360.6		149.6		188.9		5.8			8.6			713.5
Equity affiliates' income	59.6		41.7		44.7		2.1			—			148.1
Total Assets
30 June 2019		$5,896.6		$3,399.7		$6,357.6		$284.3			$3,593.7			$19,531.9
30 September 2018	5,904.0		3,280.4		5,899.5		240.1			3,854.3			19,178.3

Reconciliation of Segments to Consolidated Operating Income

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




	Three Months Ended					Nine Months Ended
	30 June					30 June
Operating Income	2019			2018		2019			2018
Segment total		$566.1			$515.8		$1,566.6			$1,431.9
Facility closure	—			—		(29.0		)	—
Cost reduction actions	(25.5		)	—		(25.5		)	—
Gain on exchange of equity affiliate investments	29.1			—		29.1			—
Consolidated Total		$569.7			$515.8		$1,541.2			$1,431.9

Reconciliation of Segments to Consolidated Equity Affiliates' Income (Loss)

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



	Three Months Ended				Nine Months Ended
	30 June				30 June
Equity Affiliates' Income	2019		2018		2019		2018
Segment total		$56.4		$58.1		$155.5		$148.1
Tax reform repatriation - equity method investment	—		—		—		(32.5		)
Consolidated Total		$56.4		$58.1		$155.5		$115.6

New Accounting Guidance (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Oct. 01, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cash provided by operating activities	$ 2,003.4	$ 1,856.2
Cash provided by investing activities	$ (1,435.5)	(1,031.8)
Accounting Standards Update 2016-15
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cash provided by operating activities		(7.1)
Cash provided by investing activities		$ 7.1
Accounting Standards Update 2016-16
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative-effect adjustment related to adoption of new accounting standard			$ (17.1)

Revenue Recognition (Disaggregation of Revenue) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Sales	$ 2,224.0	$ 2,259.0	$ 6,635.7	$ 6,631.3
Lease revenue percentage of total sales	5.00%		4.00%
Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 2,224.0	2,259.0	$ 6,635.7	6,631.3
Percent sales by supply mode	100.00%		100.00%
Industrial Gases - Americas \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 955.3	948.7	$ 2,936.2	2,771.7
Industrial Gases - EMEA \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	494.6	561.1	1,513.2	1,638.6
Industrial Gases - Asia \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	679.4	623.8	1,931.6	1,825.0
Industrial Gases - Global \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	57.9	101.1	179.9	335.8
Corporate and other \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	36.8	$ 24.3	74.8	$ 60.2
On-site \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 1,105.0		$ 3,449.7
Percent sales by supply mode	50.00%		52.00%
On-site \| Industrial Gases - Americas \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 537.1		$ 1,714.0
On-site \| Industrial Gases - EMEA \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	165.0		565.8
On-site \| Industrial Gases - Asia \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	402.9		1,169.9
On-site \| Industrial Gases - Global \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	0.0		0.0
On-site \| Corporate and other \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	0.0		0.0
Merchant \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 1,024.3		$ 2,931.3
Percent sales by supply mode	46.00%		44.00%
Merchant \| Industrial Gases - Americas \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 418.2		$ 1,222.2
Merchant \| Industrial Gases - EMEA \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	329.6		947.4
Merchant \| Industrial Gases - Asia \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	276.5		761.7
Merchant \| Industrial Gases - Global \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	0.0		0.0
Merchant \| Corporate and other \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	0.0		0.0
Sale of Equipment \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 94.7		$ 254.7
Percent sales by supply mode	4.00%		4.00%
Sale of Equipment \| Industrial Gases - Americas \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 0.0		$ 0.0
Sale of Equipment \| Industrial Gases - EMEA \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	0.0		0.0
Sale of Equipment \| Industrial Gases - Asia \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	0.0		0.0
Sale of Equipment \| Industrial Gases - Global \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	57.9		179.9
Sale of Equipment \| Corporate and other \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 36.8		$ 74.8

Revenue Recognition (Remaining Performance Obligations) (Details) $ in Billions	Jun. 30, 2019 USD ($)
Revenue from Contract with Customer [Abstract]
Transaction price allocated to remaining performance obligations	$ 14
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percentage of remaining performance obligation	50.00%
Estimated timing of recognition of performance obligation	5 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percentage of remaining performance obligation	50.00%
Estimated timing of recognition of performance obligation

Revenue Recognition (Balance Sheet Impact Upon Adoption) (Details) - USD ($) $ in Millions	Jun. 30, 2019	Mar. 31, 2019	Oct. 01, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2017
Assets
Cash and cash items	$ 2,696.8		$ 2,791.3	$ 2,791.3
Short-term investments	0.0		184.7	184.7
Trade receivables, net	1,340.7		1,207.2	1,207.2
Inventories	408.3		396.1	396.1
Contracts in progress, less progress billings			0.0	77.5
Prepaid expenses	97.2		129.6	129.6
Other receivables and current assets			399.5	295.8
Total Current Assets	4,915.2		5,108.4	5,082.2
Total Noncurrent Assets	14,616.7		14,096.1	14,096.1
Total Assets	19,531.9		19,204.5	19,178.3
Liabilities and Equity
Payables and accrued liabilities	1,543.2		1,844.0	1,817.8
Accrued income taxes	65.6		59.6	59.6
Short-term borrowings	79.9		54.3	54.3
Current portion of long-term debt	466.5		406.6	406.6
Total Current Liabilities	2,155.2		2,364.5	2,338.3
Total Noncurrent Liabilities	5,650.1		5,663.7	5,663.7
Total Liabilities	7,805.3		8,028.2	8,002.0
Total Equity	11,726.6	$ 11,503.4	11,176.3	11,176.3	$ 10,810.0	$ 10,693.2	$ 10,185.5
Total Liabilities and Equity	$ 19,531.9		19,204.5	$ 19,178.3
ASU Update 2014-09 \| New Revenue Standard Adjustments
Assets
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
Liabilities and Equity
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

Revenue Recognition (Contract Assets and Liabilities) (Details) - USD ($) $ in Millions	9 Months Ended
	Jun. 30, 2019	Oct. 01, 2018
Contract Assets and Liabilities
Contract assets - current	$ 43.0	$ 53.0
Contract fulfillment costs - current	66.4	50.7
Contract liabilities - current	181.1	174.5
Contract liabilities - noncurrent	52.8	$ 53.5
Revenue recognized that was previously included in current contract liabilities	$ 100.0

Discontinued Operations (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) from discontinued operations, net of tax	$ 0.0	$ 43.2	$ 0.0	$ 42.2
Tax adjustments, settlements, and unusual provisions		9.1
European Homecare business \| Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Tax adjustments, settlements, and unusual provisions		25.6
Performance Materials Division (PMD) \| Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Adjustment to prior gain (loss) on disposal, net of tax		$ 17.6
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)

- Definition

Amount after tax of income (loss) from a discontinued operation including the portion attributable to the noncontrolling interest. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal.

+ References + Details

Cost Reduction Actions (Narrative) (Details) $ in Millions	3 Months Ended		9 Months Ended
Cost Reduction Actions (Narrative) (Details) $ in Millions	Jun. 30, 2019 USD ($) position	Jun. 30, 2018 USD ($)	Jun. 30, 2019 USD ($)	Jun. 30, 2018 USD ($)
Restructuring and Related Activities [Abstract]
Cost reduction actions \| $	$ 25.5	$ 0.0	$ 25.5	$ 0.0
Total number of positions eliminated or expected to be eliminated \| position	300

Cost Reduction Actions (Carrying Amount of Accrual) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Restructuring and Related Activities [Abstract]
Cost reduction actions	$ 25.5	$ 0.0	$ 25.5	$ 0.0
Cash expenditures	(4.7)
Amount reflected in pension liability	(0.3)
Currency translation adjustment	0.1
Accrued balance	$ 20.6		$ 20.6

Acquisitions (Narrative) (Details) $ in Millions, ¥ in Billions					3 Months Ended		9 Months Ended
	May 01, 2019 USD ($)	Mar. 01, 2019 USD ($)	Apr. 26, 2018 USD ($)	Apr. 26, 2018 CNY (¥)	Jun. 30, 2019 USD ($)	Jun. 30, 2018 USD ($)	Jun. 30, 2019 USD ($)	Jun. 30, 2018 USD ($) acquisition	May 02, 2019	Sep. 30, 2018 USD ($)	Apr. 26, 2018 CNY (¥)
Business Acquisition [Line Items]
Net gain on exchange of equity affiliate investments	$ 29.1				$ 29.1	$ 0.0	$ 29.1	$ 0.0
Business combinations, goodwill acquired during period							42.2
Plant and equipment, net					10,427.6		10,427.6			$ 9,923.7
Additions to plant and equipment							1,507.6	1,158.1
Equity issuance related to asset acquisition						$ 227.4		$ 227.4
Long-term debt – related party					321.6		321.6			384.3	¥ 2.3
Current portion of long-term debt – related party					62.9		62.9
Liability for expected cash payments to or on behalf of related party					$ 80.8		$ 80.8			$ 330.0
High-Tech Gases
Business Acquisition [Line Items]
Ownership interest (percent)									0.00%	50.00%
Decrease in ownership interest in exchange transaction (percent)	50.00%
Gain from disposition of interest in equity method investment	$ 14.1
WuXi
Business Acquisition [Line Items]
Ownership interest (percent)										50.00%
WuXi
Business Acquisition [Line Items]
Interest acquired in exchange transaction (percent)	50.00%
Ownership interest subsequent to acquisition date (percent)									100.00%
Gain from revaluation of previously held equity interest to acquisition date fair value	$ 15.0
Estimated acquisition date fair value of previously held equity interest	27.0
Business combinations, plant and equipment acquired during the period	28.0
Business combinations, intangible assets acquired during the period	$ 27.6
Weighted-average useful life of acquired intangible assets (in years)	10 years
Business combinations, goodwill acquired during period	$ 4.2
Business combinations, tax deductible goodwill	$ 0.0
ACP Europe SA
Business Acquisition [Line Items]
Business combinations, aggregate purchase price, net of cash acquired		$ 106.3
Business combinations, plant and equipment acquired during the period		74.6
Business combinations, goodwill acquired during period		38.0
Business combinations, tax deductible goodwill		$ 0.0
2018 Business Combinations
Business Acquisition [Line Items]
Number of acquisitions completed \| acquisition								8
Business combinations, aggregate purchase price, net of cash acquired								$ 355.4
Joint Venture \| Air Products Lu'an Changzhi Co Ltd
Business Acquisition [Line Items]
Ownership interest by Air Products (percent)			60.00%								60.00%
Contribution of equipment to joint venture			$ 300.0
Additions to plant and equipment			235.0	¥ 1.5
Equity issuance related to asset acquisition			$ 227.0	1.4
Loans Payable \| Lu'An Loan To Joint Venture
Business Acquisition [Line Items]
Loan to joint venture, face amount \| ¥											¥ 2.6
Interest rate, stated percentage			5.50%								5.50%
Air Products Lu'an Changzhi Co Ltd \| Joint Venture
Business Acquisition [Line Items]
Consideration transferred in asset acquisition			$ 1,200.0	¥ 7.9
Plant and equipment, net			$ 1,500.0

Inventories (Schedule of Inventory) (Details) - USD ($) $ in Millions	Jun. 30, 2019	Oct. 01, 2018	Sep. 30, 2018
Inventory Disclosure [Abstract]
Finished goods	$ 135.1		$ 125.4
Work in process	29.9		21.2
Raw materials, supplies and other	243.3		249.5
Inventories	$ 408.3	$ 396.1	$ 396.1

Goodwill (Schedule of Goodwill by Segment) (Details) $ in Millions	9 Months Ended
	Jun. 30, 2019 USD ($)
Goodwill [Roll Forward]
Goodwill, net, beginning balance	$ 788.9
Acquisitions	42.2
Currency translation and other	(10.7)
Goodwill, net, ending balance	820.4
Industrial Gases - Americas
Goodwill [Roll Forward]
Goodwill, net, beginning balance	162.1
Acquisitions	0.0
Currency translation and other	(1.9)
Goodwill, net, ending balance	160.2
Industrial Gases - EMEA
Goodwill [Roll Forward]
Goodwill, net, beginning balance	424.4
Acquisitions	38.0
Currency translation and other	(7.5)
Goodwill, net, ending balance	454.9
Industrial Gases - Asia
Goodwill [Roll Forward]
Goodwill, net, beginning balance	171.9
Acquisitions	4.2
Currency translation and other	(1.1)
Goodwill, net, ending balance	175.0
Industrial Gases - Global
Goodwill [Roll Forward]
Goodwill, net, beginning balance	20.1
Acquisitions	0.0
Currency translation and other	(0.2)
Goodwill, net, ending balance	19.9
Corporate and other
Goodwill [Roll Forward]
Goodwill, net, beginning balance	10.4
Acquisitions	0.0
Currency translation and other	0.0
Goodwill, net, ending balance	$ 10.4

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

Jun. 30, 2019

Sep. 30, 2018

Goodwill [Line Items]

Goodwill, gross

$ 1,212.9

$ 1,194.7

Goodwill, net

820.4

788.9

Industrial Gases - Americas

Goodwill [Line Items]

Goodwill, accumulated impairment losses

^[1]

(392.5)

(405.8)

Goodwill, net

$ 160.2

$ 162.1

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

Financial Instruments (Narrative) (Details) € in Millions	9 Months Ended		12 Months Ended
Financial Instruments (Narrative) (Details) € in Millions	Jun. 30, 2019 USD ($)	Jun. 30, 2019 EUR (€)	Sep. 30, 2018 USD ($)	Sep. 30, 2018 EUR (€)
Derivative [Line Items]
Net liability position of derivatives with credit risk-related contingent features	$ 25,000,000.0		$ 33,400,000
Collateral posted on liability positions with credit risk-related contingent features	0
Collateral amount that counterparties would be required to post	$ 90,900,000		97,600,000
Forward Exchange Contracts \| Cash Flow Hedges
Derivative [Line Items]
Maximum remaining maturity of foreign currency derivatives	2 years 3 months 18 days	2 years 3 months 18 days
Foreign Currency Debt \| Euro Denominated
Derivative [Line Items]
Notional amount included in designated foreign currency denominated debt	$ 1,069,600,000	€ 940.4	$ 1,054,600,000	€ 908.8

Financial Instruments (Schedule of Outstanding Currency Price Risk Management Instruments) (Details) - Forward Exchange Contracts - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Jun. 30, 2019	Sep. 30, 2018
Derivative [Line Items]
US$ Notional	$ 4,130.9	$ 4,682.7
Years Average Maturity	7 months 6 days	8 months 12 days
Designated as Hedging Instrument \| Cash Flow Hedges
Derivative [Line Items]
US$ Notional	$ 2,656.2	$ 2,489.1
Years Average Maturity	4 months 24 days	4 months 24 days
Designated as Hedging Instrument \| Net Investment Hedges
Derivative [Line Items]
US$ Notional	$ 553.0	$ 457.5
Years Average Maturity	1 year	1 year 8 months 12 days
Not Designated as Hedging Instrument
Derivative [Line Items]
US$ Notional	$ 921.7	$ 1,736.1
Years Average Maturity	10 months 24 days	9 months 18 days

Financial Instruments (Schedule of Interest Rate Swaps and Cross Currency Interest Rate Swaps) (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Jun. 30, 2019	Sep. 30, 2018
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%	2.60%
Years Average Maturity	10 months 24 days	1 year 7 months 6 days
Cross Currency Interest Rate Swaps \| Designated as Hedging Instrument \| Net Investment Hedges
Derivative [Line Items]
US$ Notional	$ 246.6	$ 201.7
Average Pay %	4.55%	4.42%
Average Receive %	3.09%	2.97%
Years Average Maturity	2 years 10 months 24 days	3 years 1 month 6 days
Cross Currency Interest Rate Swaps \| Designated as Hedging Instrument \| Cash Flow Hedges
Derivative [Line Items]
US$ Notional	$ 1,063.5	$ 1,052.7
Average Pay %	4.85%	4.99%
Average Receive %	2.94%	2.89%
Years Average Maturity	2 years 2 months 12 days	2 years 3 months 18 days
Cross Currency Interest Rate Swaps \| Not Designated as Hedging Instrument
Derivative [Line Items]
US$ Notional	$ 29.6	$ 80.2
Average Pay %	4.17%	4.88%
Average Receive %	3.61%	3.43%
Years Average Maturity	4 years 7 months 6 days	3 years 10 months 24 days

Financial Instruments (Fair Value of Derivative Instruments) (Details) - USD ($) $ in Millions	Jun. 30, 2019	Sep. 30, 2018
Derivative [Line Items]
Total Derivatives, Assets	$ 137.7	$ 146.1
Total Derivatives, Liabilities	80.5	94.1
Designated as Hedging Instrument
Derivative [Line Items]
Total Derivatives, Assets	106.3	117.7
Total Derivatives, Liabilities	41.0	55.5
Designated as Hedging Instrument \| Other Receivables \| Forward Exchange Contracts
Derivative [Line Items]
Total Derivatives, Assets	28.3	24.9
Designated as Hedging Instrument \| Other Receivables \| Interest Rate Management Contracts
Derivative [Line Items]
Total Derivatives, Assets	14.0	24.3
Designated as Hedging Instrument \| Other Noncurrent Assets \| Forward Exchange Contracts
Derivative [Line Items]
Total Derivatives, Assets	27.9	19.8
Designated as Hedging Instrument \| Other Noncurrent Assets \| Interest Rate Management Contracts
Derivative [Line Items]
Total Derivatives, Assets	36.1	48.7
Designated as Hedging Instrument \| Accrued Liabilities \| Forward Exchange Contracts
Derivative [Line Items]
Total Derivatives, Liabilities	32.3	37.0
Designated as Hedging Instrument \| Accrued Liabilities \| Interest Rate Management Contracts
Derivative [Line Items]
Total Derivatives, Liabilities	0.6	2.3
Designated as Hedging Instrument \| Other Noncurrent Liabilities \| Forward Exchange Contracts
Derivative [Line Items]
Total Derivatives, Liabilities	0.8	4.6
Designated as Hedging Instrument \| Other Noncurrent Liabilities \| Interest Rate Management Contracts
Derivative [Line Items]
Total Derivatives, Liabilities	7.3	11.6
Not Designated as Hedging Instrument
Derivative [Line Items]
Total Derivatives, Assets	31.4	28.4
Total Derivatives, Liabilities	39.5	38.6
Not Designated as Hedging Instrument \| Other Receivables \| Forward Exchange Contracts
Derivative [Line Items]
Total Derivatives, Assets	7.9	7.9
Not Designated as Hedging Instrument \| Other Receivables \| Interest Rate Management Contracts
Derivative [Line Items]
Total Derivatives, Assets	0.0	4.0
Not Designated as Hedging Instrument \| Other Noncurrent Assets \| Forward Exchange Contracts
Derivative [Line Items]
Total Derivatives, Assets	22.8	16.2
Not Designated as Hedging Instrument \| Other Noncurrent Assets \| Interest Rate Management Contracts
Derivative [Line Items]
Total Derivatives, Assets	0.7	0.3
Not Designated as Hedging Instrument \| Accrued Liabilities \| Forward Exchange Contracts
Derivative [Line Items]
Total Derivatives, Liabilities	13.4	14.9
Not Designated as Hedging Instrument \| Accrued Liabilities \| Interest Rate Management Contracts
Derivative [Line Items]
Total Derivatives, Liabilities	0.0	0.0
Not Designated as Hedging Instrument \| Other Noncurrent Liabilities \| Forward Exchange Contracts
Derivative [Line Items]
Total Derivatives, Liabilities	26.1	23.7
Not Designated as Hedging Instrument \| Other Noncurrent Liabilities \| Interest Rate Management Contracts
Derivative [Line Items]
Total Derivatives, Liabilities	$ 0.0	$ 0.0

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

3 Months Ended

9 Months Ended

Jun. 30, 2019

Jun. 30, 2018

Jun. 30, 2019

Jun. 30, 2018

Fair Value Measurements (Schedule of the Carrying Values and Fair Values of Financial Instruments) (Details) - USD ($) $ in Millions	Jun. 30, 2019	Sep. 30, 2018
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current portion and related party, carrying value	$ 3,739.8	$ 3,758.3
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current portion and related party, fair value	3,816.9	3,788.2
Forward Exchange Contracts \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	86.9	68.8
Derivative liabilities	72.6	80.2
Forward Exchange Contracts \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	86.9	68.8
Derivative liabilities	72.6	80.2
Interest Rate Management Contracts \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	50.8	77.3
Derivative liabilities	7.9	13.9
Interest Rate Management Contracts \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	50.8	77.3
Derivative liabilities	$ 7.9	$ 13.9

Retirement Benefits (Narrative) (Details) - Defined Benefit Pension Plan - USD ($) $ in Millions	3 Months Ended				9 Months Ended		12 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Sep. 30, 2018
Defined Benefit Plan Disclosure [Line Items]
Company contributions					$ 31.0	$ 43.0	$ 68.3
Pension settlement loss					6.3
Minimum
Defined Benefit Plan Disclosure [Line Items]
Total expected contributions for current fiscal year	$ 45.0				45.0
Maximum
Defined Benefit Plan Disclosure [Line Items]
Total expected contributions for current fiscal year	65.0				65.0
International
Defined Benefit Plan Disclosure [Line Items]
Pension settlement loss	$ 0.0			$ 0.0	$ 0.2	$ 0.0
Prior service cost arising during period			$ 4.7
U.S. Supplementary Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Pension settlement loss		$ 5.0

Commitments and Contingencies (Litigation and Environmental - Narrative) (Details) R$ in Millions	1 Months Ended	9 Months Ended
	Sep. 30, 2010 BRL (R$)	Jun. 30, 2019 USD ($) site	Jun. 30, 2019 BRL (R$) site	Sep. 30, 2018 USD ($)
Alleged Anticompete Litigation
Loss Contingencies [Line Items]
Civil fines imposed	R$ 179.2	$ 47,000,000
Provision for litigation		0
Maximum of loss contingency range subject to interest		$ 47,000,000	R$ 179.2
Environmental
Loss Contingencies [Line Items]
Approximate number of sites on which settlement has not been reached \| site		32	32
Accrual for environmental loss contingencies		$ 71,100,000		$ 76,800,000
Accrual for environmental loss contingencies, maximum payout period		30 years
Environmental \| Minimum
Loss Contingencies [Line Items]
Estimate of possible exposure from environmental loss contingencies		$ 71,000,000
Environmental \| Maximum
Loss Contingencies [Line Items]
Estimate of possible exposure from environmental loss contingencies		$ 84,000,000

Commitments and Contingencies (Pace, Piedmont, Pasadena - Narrative) (Details) - USD ($)	9 Months Ended	12 Months Ended
	Jun. 30, 2019	Sep. 30, 2012	Sep. 30, 2008	Sep. 30, 2006
Pace, Florida
Loss Contingencies [Line Items]
Accrual for environmental loss contingencies	$ 24,700,000			$ 42,000,000
Change in estimated exposure	0
Pace, Florida \| Discontinued Operations
Loss Contingencies [Line Items]
Pretax environmental expense				42,000,000
Pace, Florida \| Minimum
Loss Contingencies [Line Items]
Estimate of possible exposure from environmental loss contingencies				42,000,000
Pace, Florida \| Maximum
Loss Contingencies [Line Items]
Estimate of possible exposure from environmental loss contingencies				$ 52,000,000
Piedmont, South Carolina
Loss Contingencies [Line Items]
Accrual for environmental loss contingencies	14,900,000		$ 24,000,000
Piedmont, South Carolina \| Discontinued Operations
Loss Contingencies [Line Items]
Pretax environmental expense			$ 24,000,000
Pasadena, Texas
Loss Contingencies [Line Items]
Accrual for environmental loss contingencies	$ 11,800,000
Total anticipated exposure		$ 13,000,000

Share-Based Compensation (Narrative) (Details)	9 Months Ended
Share-Based Compensation (Narrative) (Details)	Jun. 30, 2019 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future grant	4,473,615
Market-Based Deferred Stock Unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units/shares granted	114,929
Performance period	3 years
Weighted average grant date fair value (in dollars per unit/share) \| $ / shares	$ 229.61
Time-Based Deferred Stock Unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units/shares granted	166,119
Weighted average grant date fair value (in dollars per unit/share) \| $ / shares	$ 167.82

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended				9 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Millions	Jun. 30, 2019	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Jun. 30, 2019	Jun. 30, 2018
Income Tax Disclosure [Abstract]
U.S. federal statutory tax rate (percent)	21.00%			35.00%
Discrete net tax expense related to Tax Act	$ 3.2				$ 43.8
Reversal of non-recurring benefit related to U.S. taxation of deemed foreign dividends					56.2
Tax benefit related to finalization of assessment of impacts of Tax Act					$ 12.4
Discrete net tax expense based on provisional estimates related to Tax Act						$ 206.5
Impact of new tax law on equity affiliate expense						$ 32.5
Deferred foreign income tax expense (benefit)			$ 38.8
Tax benefit related to settlement and release of reserves		$ 9.1
Effective tax rate (percent)	17.90%	19.40%			21.30%	30.60%
Income tax payments, net of refunds					$ 250.8	$ 319.1

Business Segment Information (Reconciliation of Operating Income) (Details) - USD ($) $ in Millions		3 Months Ended			9 Months Ended
	May 01, 2019	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting Information [Line Items]
Operating income		$ 569.7		$ 515.8	$ 1,541.2	$ 1,431.9
Facility closure		0.0	$ (29.0)	0.0	(29.0)	0.0
Cost reduction actions		(25.5)		0.0	(25.5)	0.0
Gain on exchange of equity affiliate investments	$ 29.1	29.1		0.0	29.1	0.0
Segment Reconciling Items
Segment Reporting Information [Line Items]
Facility closure		0.0		0.0	(29.0)	0.0
Cost reduction actions		(25.5)		0.0	(25.5)	0.0
Gain on exchange of equity affiliate investments		29.1		0.0	29.1	0.0
Segment Total
Segment Reporting Information [Line Items]
Operating income		$ 566.1		$ 515.8	$ 1,566.6	$ 1,431.9