0000002969-21-000055 | 10-K | XBRL Viewer | AIR Products Chemicals INC DE

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Cover - USD ($) $ in Billions	12 Months Ended
Cover - USD ($) $ in Billions	Sep. 30, 2021	Oct. 31, 2021	Mar. 31, 2021
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--09-30
Entity Central Index Key	0000002969
Amendment Flag	false
Entity File Number	001-04534
Entity Registrant Name	AIR PRODUCTS AND CHEMICALS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	23-1274455
Entity Address, Address Line One	1940 Air Products Boulevard
Entity Address, City or Town	Allentown
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	18106-5500
City Area Code	610
Local Phone Number	481-4911
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 62.1
Entity Common Stock, Shares Outstanding		221,460,382
Documents Incorporated by Reference	Portions of the registrant’s definitive Proxy Statement for the Annual Meeting of Shareholders to be held on 3 February 2022 are incorporated by reference into Part III.
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
1.000% Euro Notes due 2025
Entity Information [Line Items]
Title of 12(b) Security	1.000% Euro Notes due 2025
Trading Symbol	APD25
Security Exchange Name	NYSE
0.500% Notes due 2028
Entity Information [Line Items]
Title of 12(b) Security	0.500% Euro Notes due 2028
Trading Symbol	APD28
Security Exchange Name	NYSE
0.800% Notes due 2032
Entity Information [Line Items]
Title of 12(b) Security	0.800% Euro Notes due 2032
Trading Symbol	APD32
Security Exchange Name	NYSE

Consolidated Income Statements - USD ($)
shares in Millions, $ in Millions

12 Months Ended

Sep. 30, 2021

Sep. 30, 2020

Sep. 30, 2019

Income Statement [Abstract]

Sales

$ 10,323.0

$ 8,856.3

$ 8,918.9

Cost of sales

7,186.1

5,858.1

5,975.5

Facility closure

23.2

0.0

29.0

Selling and administrative

828.4

775.9

750.0

Research and development

93.5

83.9

72.9

Cost reduction actions

0.0

25.5

Gain on exchange with joint venture partner

36.8

0.0

29.1

Company headquarters relocation income (expense)

0.0

33.8

0.0

Other income (expense), net

52.8

65.4

49.3

Operating Income

2,281.4

2,237.6

2,144.4

Equity affiliates' income

294.1

264.8

215.4

Interest expense

141.8

109.3

137.0

Other non-operating income (expense), net

73.7

30.7

66.7

Income From Continuing Operations Before Taxes

2,507.4

2,423.8

2,289.5

Income tax provision

462.8

478.4

480.1

Income From Continuing Operations

2,044.6

1,945.4

1,809.4

Income (Loss) from discontinued operations, net of tax

70.3

(14.3)

0.0

Net Income

2,114.9

1,931.1

1,809.4

Net income attributable to noncontrolling interests of continuing operations

15.8

44.4

49.4

Net Income Attributable to Air Products

2,099.1

1,886.7

1,760.0

Net Income Attributable to Air Products

Net income from continuing operations

2,028.8

1,901.0

1,760.0

Net income (loss) from discontinued operations

70.3

(14.3)

0.0

Net Income Attributable to Air Products

$ 2,099.1

$ 1,886.7

$ 1,760.0

Per Share Data

Basic EPS from continuing operations (in dollars per share)

^[1]

$ 9.16

$ 8.59

$ 7.99

Basic EPS from discontinued operations (in dollars per share)

^[1]

0.32

(0.06)

Basic EPS Attributable to Air Products (in dollars per share)

^[1]

9.47

8.53

7.99

Diluted EPS from continuing operations (in dollars per share)

^[1]

9.12

8.55

7.94

Diluted EPS from discontinued operations (in dollars per share)

^[1]

0.32

(0.06)

Diluted EPS Attributable to Air Products (in dollars per share)

^[1]

$ 9.43

$ 8.49

$ 7.94

Weighted Average Common Shares (in millions)

Basic

221.6

221.2

220.3

Diluted

222.5

222.3

221.6

[1]	Earnings per share ("EPS") is calculated independently for each component and may not sum to total EPS due to rounding.

Consolidated Comprehensive Income Statements - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net Income	$ 2,114.9	$ 1,931.1	$ 1,809.4
Other Comprehensive Income (Loss), net of tax:
Translation adjustments, net of tax	267.3	233.4	(356.2)
Net gain (loss) on derivatives, net of tax	3.3	43.5
Net gain (loss) on derivatives, net of tax			(44.1)
Pension and postretirement benefits, net of tax	274.3	(68.2)	(326.2)
Reclassification adjustments:
Currency translation adjustment	0.0	0.0	(2.6)
Derivatives, net ox tax	43.5	(57.7)
Derivatives, net of tax			12.3
Pension and postretirement benefits, net of tax	74.6	82.5	63.2
Total Other Comprehensive Income (Loss)	663.0	233.5	(653.6)
Comprehensive Income	2,777.9	2,164.6	1,155.8
Net Income Attributable to Noncontrolling Interests	15.8	44.4	49.4
Other Comprehensive Income (Loss) Attributable to Noncontrolling Interests	38.8	(2.0)	(19.9)
Comprehensive Income Attributable to Air Products	$ 2,723.3	$ 2,122.2	$ 1,126.3

Consolidated Comprehensive Income Statements (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Tax effect on translation adjustments	$ 2.8	$ (29.4)	$ 25.1
Tax effect on net gain (loss) on derivatives	(9.0)	23.7
Tax effect on net gain (loss) on derivatives			(1.5)
Tax effect on pension and postretirement benefits	91.4	(15.6)	(97.9)
Tax effect on derivatives reclassification adjustments	13.9	(17.7)
Tax effect on derivatives reclassification adjustments			4.5
Tax effect on pension and postretirement benefits reclassification adjustments	$ 24.4	$ 27.1	$ 20.5

Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020
Current Assets
Cash and cash items	$ 4,468.9	$ 5,253.0
Short-term investments	1,331.9	1,104.9
Trade receivables, net	1,451.3	1,274.8
Inventories	453.9	404.8
Prepaid expenses	119.4	164.5
Other receivables and current assets	550.9	482.9
Total Current Assets	8,376.3	8,684.9
Investment in net assets of and advances to equity affiliates	1,649.3	1,432.2
Plant and equipment, net	13,254.6	11,964.7
Goodwill, net	911.5	891.5
Intangible assets, net	420.7	435.8
Noncurrent lease receivables	740.3	816.3
Other noncurrent assets	1,506.5	943.1
Total Noncurrent Assets	18,482.9	16,483.6
Total Assets	26,859.2	25,168.5
Current Liabilities
Payables and accrued liabilities	2,218.3	1,833.2
Accrued income taxes	93.9	105.8
Short-term borrowings	2.4	7.7
Current portion of long-term debt	484.5	470.0
Total Current Liabilities	2,799.1	2,416.7
Long-term debt	6,875.7	7,132.9
Long-term debt – related party	274.6	297.2
Other noncurrent liabilities	1,640.9	1,916.0
Deferred income taxes	1,180.9	962.6
Total Noncurrent Liabilities	9,972.1	10,308.7
Total Liabilities	12,771.2	12,725.4
Commitments and Contingencies - See Note 16
Air Products Shareholders’ Equity
Common stock (par value $1 per share; issued 2021 and 2020 - 249,455,584 shares)	249.4	249.4
Capital in excess of par value	1,115.8	1,094.8
Retained earnings	15,678.3	14,875.7
Accumulated other comprehensive loss	(1,515.9)	(2,140.1)
Treasury stock, at cost (2021 - 28,058,829 shares; 2020 - 28,438,125 shares)	(1,987.9)	(2,000.0)
Total Air Products Shareholders' Equity	13,539.7	12,079.8
Noncontrolling Interests	548.3	363.3
Total Equity	14,088.0	12,443.1
Total Liabilities and Equity	$ 26,859.2	$ 25,168.5

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2021	Sep. 30, 2020
Air Products Shareholders’ Equity
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares issued	249,455,584	249,455,584
Treasury stock, shares	28,058,829	28,438,125

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Operating Activities
Net Income	$ 2,114.9	$ 1,931.1	$ 1,809.4
Less: Net income attributable to noncontrolling interests of continuing operations	15.8	44.4	49.4
Net Income Attributable to Air Products	2,099.1	1,886.7	1,760.0
(Income) Loss from discontinued operations	(70.3)	14.3	0.0
Income from continuing operations attributable to Air Products	2,028.8	1,901.0	1,760.0
Adjustments to reconcile income to cash provided by operating activities:
Depreciation and amortization	1,321.3	1,185.0	1,082.8
Deferred income taxes	94.0	165.0	57.6
Tax reform repatriation	0.0	0.0	49.4
Facility closure	23.2	0.0	29.0
Undistributed earnings of equity method investments	(138.2)	(161.9)	(75.8)
Gain on sale of assets and investments	(37.2)	(45.8)	(24.2)
Share-based compensation	44.5	53.5	41.2
Noncurrent lease receivables	98.8	91.6	94.6
Other adjustments	(116.7)	116.4	(19.4)
Working capital changes that provided (used) cash, excluding effects of acquisitions:
Trade receivables	(130.5)	43.2	(69.0)
Inventories	(47.2)	(5.2)	(3.0)
Other receivables	75.5	84.4	79.8
Payables and accrued liabilities	187.9	(31.9)	(41.8)
Other working capital	(69.0)	(130.6)	8.7
Cash Provided by Operating Activities	3,335.2	3,264.7	2,969.9
Investing Activities
Additions to plant and equipment, including long-term deposits	(2,464.2)	(2,509.0)	(1,989.7)
Acquisitions, less cash acquired	(10.5)	(183.3)	(123.2)
Investment in and advances to unconsolidated affiliates	(76.0)	(24.4)	(15.7)
Proceeds from sale of assets and investments	37.5	80.3	11.1
Purchases of investments	(2,100.7)	(2,865.5)	(172.1)
Proceeds from investments	1,875.2	1,938.0	190.5
Other investing activities	5.8	3.9	(14.3)
Cash Used for Investing Activities	(2,732.9)	(3,560.0)	(2,113.4)
Financing Activities
Long-term debt proceeds	178.9	4,895.8	0.0
Payments on long-term debt	(462.9)	(406.6)	(428.6)
Net increase (decrease) in commercial paper and short-term borrowings	1.0	(54.9)	3.9
Dividends paid to shareholders	(1,256.7)	(1,103.6)	(994.0)
Proceeds from stock option exercises	10.6	34.1	68.1
Investments by noncontrolling interests	136.6	17.1	0.0
Other financing activities	(28.4)	(97.2)	(19.9)
Cash Provided by (Used for) Financing Activities	(1,420.9)	3,284.7	(1,370.5)
Discontinued Operations
Cash provided by operating activities	6.7	0.0	0.0
Cash provided by investing activities	0.0	0.0	0.0
Cash provided by financing activities	0.0	0.0	0.0
Cash Provided by Discontinued Operations	6.7	0.0	0.0
Effect of Exchange Rate Changes on Cash	27.8	14.9	(28.6)
Increase (Decrease) in cash and cash items	(784.1)	3,004.3	(542.6)
Cash and Cash items – Beginning of Year	5,253.0	2,248.7	2,791.3
Cash and Cash Items – End of Period	$ 4,468.9	$ 5,253.0	$ 2,248.7

Consolidated Statements of Equity - USD ($) $ in Millions	Total	Cumulative change in accounting principle	Common Stock	Capital in Excess of Par Value	Retained Earnings	Retained Earnings Cumulative change in accounting principle	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Air Products Shareholders’ Equity	Air Products Shareholders’ Equity Cumulative change in accounting principle	Non-controlling Interests
Beginning balance at Sep. 30, 2018	$ 11,176.3	$ (17.1)	$ 249.4	$ 1,029.3	$ 13,409.9	$ (17.1)	$ (1,741.9)	$ (2,089.2)	$ 10,857.5	$ (17.1)	$ 318.8
Stockholders' Equity [Roll Forward]
Net income	1,809.4				1,760.0				1,760.0		49.4
Other comprehensive income (loss)	(653.6)						(633.7)		(633.7)		(19.9)
Dividends on common stock	(1,008.3)				(1,008.3)				(1,008.3)
Dividends to noncontrolling interests	(12.2)										(12.2)
Share-based compensation	40.7			40.7					40.7
Issuance of treasury shares for stock option and award plans	61.9			2.2				59.7	61.9
Other equity transactions	(8.8)			(1.3)	(6.1)				(7.4)		(1.4)
Ending balance at Sep. 30, 2019	11,388.3		249.4	1,070.9	14,138.4		(2,375.6)	(2,029.5)	11,053.6		334.7
Stockholders' Equity [Roll Forward]
Net income	1,931.1				1,886.7				1,886.7		44.4
Other comprehensive income (loss)	233.5						235.5		235.5		(2.0)
Dividends on common stock	(1,144.1)				(1,144.1)				(1,144.1)
Dividends to noncontrolling interests	(31.8)										(31.8)
Share-based compensation	44.2			44.2					44.2
Issuance of treasury shares for stock option and award plans	15.4			(14.1)				29.5	15.4
Investments by noncontrolling interests	17.1										17.1
Other equity transactions	(10.6)			(6.2)	(5.3)				(11.5)		(0.9)
Ending balance at Sep. 30, 2020	12,443.1		249.4	1,094.8	14,875.7		(2,140.1)	(2,000.0)	12,079.8		363.3
Stockholders' Equity [Roll Forward]
Net income	2,114.9				2,099.1				2,099.1		15.8
Other comprehensive income (loss)	663.0						624.2		624.2		38.8
Dividends on common stock	(1,292.6)				(1,292.6)				(1,292.6)
Dividends to noncontrolling interests	(5.3)										(5.3)
Share-based compensation	43.5			43.5					43.5
Issuance of treasury shares for stock option and award plans	(9.4)			(21.5)				12.1	(9.4)
Investments by noncontrolling interests	139.8										139.8
Purchase of noncontrolling interests	(5.3)			(1.2)					(1.2)		(4.1)
Other equity transactions	(3.7)			0.2	(3.9)				(3.7)		0.0
Ending balance at Sep. 30, 2021	$ 14,088.0		$ 249.4	$ 1,115.8	$ 15,678.3	$ 1.3	$ (1,515.9)	$ (1,987.9)	$ 13,539.7		$ 548.3

Consolidated Statements of Equity (Parenthetical) - $ / shares	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Statement of Stockholders' Equity [Abstract]
Dividends per share	$ 5.84	$ 5.18	$ 4.58

Major Accounting Policies

12 Months Ended

Sep. 30, 2021

Accounting Policies [Abstract]

Major Accounting Policies

MAJOR ACCOUNTING POLICIES

Basis of Presentation and Consolidation Principles

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

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

The notes to the consolidated financial statements, unless otherwise indicated, are on a continuing operations basis. The results of operations and cash flows for our discontinued operations have been segregated from the results of continuing operations and segment results. The comprehensive income related to discontinued operations has not been segregated and is included in the consolidated comprehensive income statements. There were no assets and liabilities presented as discontinued operations on the consolidated balance sheets. Refer to Note 5, Discontinued Operations, for additional information.

Certain prior year information has been reclassified to conform to the fiscal year 2021 presentation.

Estimates and Assumptions

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

COVID-19 Risks and Uncertainties

COVID-19, which was declared a global pandemic by the World Health Organization in March 2020, continues to impact our business operations and results. There continue to be many unknowns regarding the pandemic, including the ongoing spread and severity of the virus and the pace of vaccine rollouts globally. Given the dynamic nature of these circumstances, uncertainty remains related to how the pandemic may affect our business, results of operations, and overall financial performance.

Revenue Recognition

We recognize 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 4, Revenue Recognition.

Cost of Sales

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

Depreciation

Depreciation is recorded using the straight-line method, which deducts equal amounts of the cost of each asset from earnings every year over its expected economic useful life. The principal lives for major classes of plant and equipment are summarized in Note 8, Plant and Equipment, net.

Selling and Administrative

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

Postemployment Benefits

We provide termination benefits to employees as part of ongoing benefit arrangements and record a liability for termination benefits when probable and estimable. These criteria are met when management, with the appropriate level of authority, approves and commits to its plan of action for termination; the plan identifies the employees to be terminated and their related benefits; and the plan is to be completed within one year. We do not provide material one-time benefit arrangements.

Fair Value Measurements

We are required to measure certain assets and liabilities at fair value, either upon initial measurement or for subsequent accounting or reporting. For example, fair value is used in the initial measurement of assets and liabilities acquired in a business combination; on a recurring basis in the measurement of derivative financial instruments; and on a nonrecurring basis when long-lived assets are written down to fair value when held for sale or determined to be impaired. Refer to Note 13, Fair Value Measurements, and Note 15, Retirement Benefits, for information on the methods and assumptions used in our fair value measurements.

Financial Instruments

We address certain financial exposures through a controlled program of risk management that includes the use of derivative financial instruments. The types of derivative financial instruments permitted for such risk management programs are specified in policies set by management. Refer to Note 12, Financial Instruments, for further detail on the types and use of derivative instruments into which we enter.

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

We recognize derivatives on the balance sheet at fair value. On the date the derivative instrument is entered into, we generally designate the derivative as either (1) a hedge of a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability (cash flow hedge), (2) a hedge of a net investment in a foreign operation (net investment hedge), or (3) a hedge of the fair value of a recognized asset or liability (fair value hedge).

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

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

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

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

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

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

Foreign Currency

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

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

The revenue and expense accounts of foreign subsidiaries are translated into U.S. dollars at the average exchange rates that prevail during the period. Therefore, the U.S. dollar value of these items on the consolidated income statements fluctuates from period to period, depending on the value of the U.S. dollar against foreign currencies. Some transactions are made in currencies different from an entity’s functional currency. Gains and losses from these foreign currency transactions, and the impact of related hedges, are generally reflected in "Other income (expense), net" on our consolidated income statements as they occur and were not material for the periods presented.

Foreign exchange gains and losses from the foreign currency remeasurement of balances associated with intercompany and third-party financing transactions, related income tax assets and liabilities, and the impact of related hedges are reflected within “Other non-operating income (expense), net" and were not material for the periods presented.

In addition, foreign currency forward points and currency swap basis differences that are excluded from the assessment of hedge effectiveness of our cash flow hedges of intercompany loans (“excluded components”) are recorded within “Other non-operating income (expense), net" on a straight-line basis. Excluded components were expenses of $31.0, $33.5, and $33.3 in fiscal years 2021, 2020, and 2019, respectively. In 2019, excluded components were recorded in “Interest expense” and were not restated upon adoption of accounting guidance in fiscal year 2020 on hedging activities.

Environmental Expenditures

Accruals for environmental loss contingencies are recorded when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. Remediation costs are capitalized if the costs improve our property as compared with the condition of the property when originally constructed or acquired, or if the costs prevent environmental contamination from future operations. We expense environmental costs related to existing conditions resulting from past or current operations and from which no current or future benefit is discernible. The amounts charged to income from continuing operations related to environmental matters totaled $18.6, $18.3, and $14.2 in fiscal years 2021, 2020, and 2019, respectively. In addition, we recorded a pre-tax expense of $19.0 in results from discontinued operations to increase our environmental accrual for the Pace facility in the second quarter of fiscal year 2020. Refer to the Pace discussion within Note 16, Commitments and Contingencies, for additional information.

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

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

Given inherent uncertainties in evaluating environmental exposures, actual costs to be incurred at identified sites in future periods may vary from the estimates. Refer to Note 16, Commitments and Contingencies, for additional information on our environmental loss contingencies.

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

Litigation

In the normal course of business, we are involved in legal proceedings. We accrue a liability for such matters when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. When only a range of possible loss can be established, the most probable amount in the range is accrued. If no amount within this range is a better estimate than any other amount within the range, the minimum amount in the range is accrued. The accrual for a litigation loss contingency includes estimates of potential damages and other directly related costs expected to be incurred. Refer to Note 16, Commitments and Contingencies, for additional information on our current legal proceedings.

Share-Based Compensation

We expense the grant-date fair value of our share-based awards over the vesting period during which employees perform related services. Expense recognition is accelerated for retirement-eligible individuals who would meet the requirements for vesting of awards upon their retirement. Refer to Note 18, Share-Based Compensation, for additional information regarding these awards and the models and assumptions used to determine the grant-date fair value of our awards.

Income Taxes

We account for income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the tax effects of temporary differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to be recovered or settled. A principal temporary difference results from the excess of tax depreciation over book depreciation because accelerated methods of depreciation and shorter useful lives are used for income tax purposes. The cumulative impact of a change in tax rates or regulations is included in income tax expense in the period that includes the enactment date. We recognize deferred tax assets net of existing valuation allowances to the extent we believe that these assets are more likely than not to be realized considering all available evidence.

A tax benefit for an uncertain tax position is recognized when it is more likely than not that the position will be sustained upon examination based on its technical merits. This position is measured as the largest amount of tax benefit that is greater than 50% likely of being realized. Interest and penalties related to unrecognized tax benefits are recognized as a component of income tax expense. For additional information regarding our income taxes, refer to Note 21, Income Taxes.

Other Non-Operating Income (Expense), net

Other non-operating income (expense), net includes interest income associated with our cash and cash items and short-term investments, certain foreign currency remeasurements and impacts from the related hedging activities discussed in the Foreign Currency section above, and non-service cost components of net periodic pension and postretirement benefit cost. Our non-service costs primarily include interest cost, expected return on plan assets, amortization of actuarial gains and losses, and settlements.

Cash and Cash Items

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

Short-term Investments

Short-term investments include time deposits and treasury securities with original maturities greater than three months and less than one year.

Credit Losses

We are exposed to credit losses through sales of products and services. When extending credit, we evaluate customer creditworthiness based on a combination of qualitative and quantitative factors that include, but are not limited to, the customer’s credit score from external providers, financial condition, and past payment experience.

We assess allowances for credit losses on our trade receivables and lease receivable portfolios. Allowances are evaluated by portfolio on a collective basis where similar characteristics exist. A provision for customer defaults is made on a general formula basis as the risk of some default is expected but cannot yet be associated with specific customers. The assessment of the likelihood of default is based on various factors, including the length of time the receivables are past due, historical experience, existing economic conditions, and forward-looking information. When we identify specific customers with known collectability issues, the assessment for credit losses is performed on an individual basis, considering current and forward-looking information of the customer.

The use of forward-looking information considers economic conditions that may affect the customers’ ability to pay. Although we historically have not experienced significant credit losses, our exposure to credit losses may increase if our customers are adversely affected by economic pressures or uncertainty associated with local or global economic recessions, disruption associated with the ongoing COVID-19 pandemic, or other customer-specific factors. We review our reserves for credit losses on a quarterly basis.

Trade receivables comprise amounts owed to us through our operating activities and are presented net of allowances for credit losses. Changes to the carrying amount of the allowance for credit losses on trade receivables are summarized below:



Balance at 30 September 2018			$26.4
Provision for credit losses			7.7
Write-offs charged against the allowance			(6.8)
Currency translation and other			(2.5)
Balance at 30 September 2019			$24.8
Provision for credit losses			7.7
Write-offs charged against the allowance			(8.3)
Currency translation and other			(0.3)
Balance at 30 September 2020			$23.9
Adoption of new credit losses standard			0.5
Provision for credit losses			2.7
Write-offs charged against the allowance			(3.8)
Currency translation and other			1.8

Balance at 30 September 2021			$25.1

In addition, our lease receivables are presented net of allowances for credit losses. As of 30 September 2021 and 2020, the credit quality of lease receivables did not require a material allowance for credit losses. For additional information on our lease arrangements, refer to Note 11, Leases.

Inventories

We carry inventory that is comprised of finished goods, work-in-process, raw materials and supplies. Refer to Note 6, Inventories, for further detail.

Inventories on our consolidated balance sheets are stated at the lower of cost or net realizable value. We determine the cost of all our inventories on a first-in, first-out basis ("FIFO"). We write down our inventories for estimated obsolescence or unmarketable inventory based upon assumptions about future demand and market conditions.

Equity Method Investments

The equity method of accounting is used when we exercise significant influence but do not have operating control, generally assumed to be 20% – 50% ownership. Under the equity method, original investments are recorded at cost and adjusted by our share of undistributed earnings or losses of these companies. We use the cumulative earnings approach for determining cash flow presentation of cash distributions received from equity method investees. Equity investments are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment may not be recoverable.

Plant and Equipment, net

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

Fully depreciated assets are retained in the gross plant and equipment and accumulated depreciation accounts until they are removed from service. In the case of disposals, assets and related depreciation are removed from the accounts, and the net amounts, less proceeds from disposal, are included in income. Refer to Note 8, Plant and Equipment, net, for further detail.

Computer Software

We capitalize costs incurred to purchase or develop software for internal use. Capitalized costs include purchased computer software packages, payments to vendors/consultants for development and implementation or modification to a purchased package to meet our requirements, payroll and related costs for employees directly involved in development, and interest incurred while software is being developed. Capitalized costs are reflected in "Plant and equipment, net" on the consolidated balance sheets and are depreciated over the estimated useful life of the software, generally a period of three to five years.

We capitalize costs incurred with the implementation of a cloud computing arrangement that is a service contract, consistent with our policy for software developed or obtained for internal use. However, the capitalized costs are reflected in "Other noncurrent assets" on our consolidated balance sheets and expensed over the term of the related hosting arrangement.

Capitalized Interest

As we build new plant and equipment, we include in the cost of these assets a portion of the interest payments we make during the year. The amount of capitalized interest was $28.3, $15.9, and $13.5 in fiscal years 2021, 2020, and 2019, respectively.

Leases

As lessee, we recognize a right-of-use ("ROU") asset and lease liability on the balance sheet for all leases with a term in excess of 12 months. We determine if an arrangement contains a lease at inception. The arrangement contains a lease when there is an identifiable asset, we obtain substantially all of the economic benefits from that asset, and we direct how and for what purpose the asset is used during the term of the arrangement. If the initial term of an arrangement is 12 months or less, we have made an accounting election to not assess if these arrangements contain a lease for inclusion on our balance sheet.

ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. Since our leases generally do not provide an implicit discount rate, we use our incremental borrowing rates based on the information available at the commencement date in determining the present value of lease payments. To determine the incremental borrowing rate, we consider our unsecured borrowings and published market rates, and then adjust those rates to assume full collateralization and to factor in the individual lease term, geography, and payment structure.

Our lease term includes periods covered by options to extend or terminate the lease when it is reasonably certain that we will exercise an option to extend or not exercise an option to terminate. Lease payments consider our practical expedient to combine amounts for lease and related non-lease components for all classes of underlying assets in which we are lessee. Fixed payments and payments associated with escalation clauses based on an index are included in the ROU asset and lease liability at commencement. Variable lease payments are excluded from the ROU assets and lease liabilities and are recognized in the period in which the obligation for those payments is incurred. Our variable lease payments primarily include the impact from escalation clauses that are not fixed or based on an index. Prepaid lease payments are included in the recognition of ROU assets. Our lease agreements do not contain any material lease incentives, residual value guarantees or restrictions or covenants.

Impairment of Long-Lived Assets

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

Asset Retirement Obligations

The fair value of a liability for an asset retirement obligation is recognized in the period in which it is incurred. The fair value of the liability is measured using discounted estimated cash flows and is adjusted to its present value in subsequent periods as accretion expense is recorded. The corresponding asset retirement costs are capitalized as part of the carrying amount of the related long-lived asset and depreciated over the asset’s useful life. Our asset retirement obligations are primarily associated with on-site long-term supply contracts under which we have built a facility on land owned by the customer and are obligated to remove the facility at the end of the contract term. Our asset retirement obligations totaled $269.6 and $241.4 at 30 September 2021 and 2020, respectively. Refer to Note 16, Commitments and Contingencies, for further detail.

Goodwill

Business combinations are accounted for using the acquisition method. The purchase price is allocated to the assets acquired and liabilities assumed based on their estimated fair values. Any excess purchase price (plus the fair value of any noncontrolling interest and previously held equity interest in the acquiree) over the fair market value of the net assets acquired, including identified intangibles, is recorded as goodwill. Preliminary purchase price allocations are made at the date of acquisition and finalized when information about facts and circumstances that existed as of the acquisition date needed to finalize underlying estimates is obtained or when we determine that such information is not obtainable, within a maximum measurement period of one year.

Goodwill is subject to impairment testing at least annually. In addition, goodwill is tested more frequently if a change in circumstances or the occurrence of events indicates that potential impairment exists. Refer to Note 9, Goodwill, for further detail.

Intangible Assets

Intangible assets with determinable lives primarily consist of customer relationships, purchased patents and technology, and certain land use rights. The cost of intangible assets with determinable lives is amortized on a straight-line basis over the estimated period of economic benefit. No residual value is estimated for these intangible assets. Indefinite-lived intangible assets consist of trade names and trademarks. Indefinite-lived intangibles are subject to impairment testing at least annually. In addition, intangible assets are tested more frequently if a change in circumstances or the occurrence of events indicates that potential impairment exists.

Customer relationships are generally amortized over periods of five to twenty-five years. Purchased patents and technology and other finite-lived intangibles are generally amortized over periods of five to fifteen years. Other intangibles includes certain land use rights, which are generally amortized over a period of fifty years. Amortizable lives are adjusted whenever there is a change in the estimated period of economic benefit. Refer to Note 10, Intangible Assets, for further detail.

Retirement Benefits

Our retirement benefit plans are discussed in Note 15, Retirement Benefits. The cost of benefits we contribute to defined contribution plans is recognized in the year earned. The cost of benefits under our defined benefit and other post-retirement plans is generally recognized over the employees’ service period. We use actuarial methods and assumptions in the valuation of defined benefit obligations and the determination of expense. Differences between actual and expected results or changes in the value of obligations and plan assets are recognized systematically over subsequent periods

New Accounting Guidance	12 Months Ended
New Accounting Guidance	Sep. 30, 2021
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Guidance	NEW ACCOUNTING GUIDANCE Accounting Guidance Implemented in Fiscal Year 2021 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 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 previous guidance, which delayed recognition of a credit loss until it was probable that a loss had been incurred. We adopted this guidance on 1 October 2020 using a modified retrospective approach with an after-tax cumulative-effect adjustment of $1.3 to retained earnings. Refer to the “Major Accounting Polices – Credit Losses" section of Note 1, Major Accounting Policies, for a description of our accounting policy on credit losses. Cloud Computing Implementation Costs In August 2018, the FASB issued guidance which aligns the capitalization requirements for implementation costs incurred in a hosting arrangement that is a service contract with the existing capitalization requirements for implementation costs incurred to develop or obtain internal-use software. We adopted this guidance prospectively at the beginning of fiscal year 2021. Eligible implementation costs previously capitalized in "Plant and equipment, net" were reclassified to "Other noncurrent assets" on our consolidated balance sheets beginning in fiscal year 2021. This guidance did not have a material impact on our consolidated financial statements upon adoption. Simplifying the Accounting for Income Taxes In December 2019, the FASB issued an update to simplify the accounting for income taxes and improve consistent application by clarifying or amending existing guidance. We adopted this guidance at the beginning of fiscal year 2021. This guidance did not have a material impact on our consolidated financial statements upon adoption. New Accounting Guidance to be Implemented Reference Rate Reform In March 2020, the FASB issued an update to provide practical expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. This update is primarily applicable to our contracts and hedging relationships that reference LIBOR. The amendments may be applied to impacted contracts and hedges prospectively through 31 December 2022. We had no impacts on our hedging relationships related to reference rate reform in fiscal year 2021. We will continue to evaluate the impact this guidance could have on our consolidated financial statements.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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+ Details

Acquisitions	12 Months Ended
Acquisitions	Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]
Acquisitions	ACQUISITIONS Fiscal Year 2021 Gain on Exchange With Joint Venture Partner As of 30 September 2020, we held a 50% ownership interest in Tyczka Industrie-Gases GmbH ("TIG"), a joint venture in Germany with the Tyczka Group that is primarily a merchant gases business. We accounted for this arrangement as an equity method investment in our Industrial Gases – EMEA segment. Effective 23 February 2021 (the "acquisition date"), we agreed with our joint venture partner to separate TIG into two separate businesses. On the acquisition date, we acquired a portion of the business on a 100% basis, and our partner paid us $10.8 to acquire the rest of the business. The exchange resulted in a gain of $36.8 ($27.3 after-tax), which is reflected as “Gain on exchange with joint venture partner” on our consolidated income statements for the fiscal year ended 30 September 2021. The gain included $12.7 from the revaluation of our previously held equity interest in the portion of the business that we retained and $24.1 from the sale of our equity interest in the remaining business. The gain was not recorded in segment results. We estimated an acquisition date fair value of $15.4 for our previously held equity interest in the acquired portion of the business using a market approach, which considered historical earnings and the application of a market-based multiple derived from comparable transactions. We accounted for the acquisition as a business combination within our Industrial Gases – EMEA segment. As a result of the acquisition, we recognized intangible assets of $16.7 for customer relationships, goodwill of $14.5, and plant and equipment of $10.3. The customer relationships have a weighted-average useful life of approximately 15 years. The acquired assets were recorded at their estimated fair values based primarily on a preliminary purchase price allocation. We may record adjustments to these assets during the preliminary purchase price allocation period, which could be up to one year from the acquisition date. We expect the acquisition to allow us to have more control over the business we retained and to serve customers more effectively. The results of this business did not materially impact our consolidated income statements for the periods presented. Fiscal Year 2020 Asset Acquisition On 17 April 2020, we acquired five operating hydrogen production plants from PBF Energy Inc. ("PBF") and commenced contractual long-term supply of hydrogen from those plants to PBF's refineries. We accounted for the transaction as an asset acquisition and recorded the aggregate purchase price of $580 to plant and equipment on our consolidated balance sheets. Business Combinations We completed three acquisitions on 1 July 2020 that were accounted for as business combinations. These acquisitions had an aggregate purchase price, net of cash acquired, of $185.4. The largest of these acquisitions was the purchase of Oxygen & Argon Works Ltd., the leading manufacturer and marketer of industrial gases in Israel, primarily offering merchant gas products. The results of this business are consolidated within our Industrial Gases – EMEA segment. Fiscal Year 2019 As further discussed below, we completed three business combinations in fiscal year 2019. Exchange of Equity Affiliate Investments We previously 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 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 is reflected as "Gain on exchange with joint venture partner" on our consolidated income statements in fiscal year 2019 and was not recorded in results of the Industrial Gases – Asia segment. 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 are consolidated within our Industrial Gases – Asia segment. Other Fiscal Year 2019 Business Combinations The remaining business combinations completed in fiscal year 2019 had total consideration, net of cash acquired, of $126.6. The largest of these business combinations was the acquisition of ACP Europe SA ("ACP"), the largest independent carbon dioxide business in Continental Europe. The results of this business are consolidated within our Industrial Gases – EMEA segment.
Business Combinations	ACQUISITIONS Fiscal Year 2021 Gain on Exchange With Joint Venture Partner As of 30 September 2020, we held a 50% ownership interest in Tyczka Industrie-Gases GmbH ("TIG"), a joint venture in Germany with the Tyczka Group that is primarily a merchant gases business. We accounted for this arrangement as an equity method investment in our Industrial Gases – EMEA segment. Effective 23 February 2021 (the "acquisition date"), we agreed with our joint venture partner to separate TIG into two separate businesses. On the acquisition date, we acquired a portion of the business on a 100% basis, and our partner paid us $10.8 to acquire the rest of the business. The exchange resulted in a gain of $36.8 ($27.3 after-tax), which is reflected as “Gain on exchange with joint venture partner” on our consolidated income statements for the fiscal year ended 30 September 2021. The gain included $12.7 from the revaluation of our previously held equity interest in the portion of the business that we retained and $24.1 from the sale of our equity interest in the remaining business. The gain was not recorded in segment results. We estimated an acquisition date fair value of $15.4 for our previously held equity interest in the acquired portion of the business using a market approach, which considered historical earnings and the application of a market-based multiple derived from comparable transactions. We accounted for the acquisition as a business combination within our Industrial Gases – EMEA segment. As a result of the acquisition, we recognized intangible assets of $16.7 for customer relationships, goodwill of $14.5, and plant and equipment of $10.3. The customer relationships have a weighted-average useful life of approximately 15 years. The acquired assets were recorded at their estimated fair values based primarily on a preliminary purchase price allocation. We may record adjustments to these assets during the preliminary purchase price allocation period, which could be up to one year from the acquisition date. We expect the acquisition to allow us to have more control over the business we retained and to serve customers more effectively. The results of this business did not materially impact our consolidated income statements for the periods presented. Fiscal Year 2020 Asset Acquisition On 17 April 2020, we acquired five operating hydrogen production plants from PBF Energy Inc. ("PBF") and commenced contractual long-term supply of hydrogen from those plants to PBF's refineries. We accounted for the transaction as an asset acquisition and recorded the aggregate purchase price of $580 to plant and equipment on our consolidated balance sheets. Business Combinations We completed three acquisitions on 1 July 2020 that were accounted for as business combinations. These acquisitions had an aggregate purchase price, net of cash acquired, of $185.4. The largest of these acquisitions was the purchase of Oxygen & Argon Works Ltd., the leading manufacturer and marketer of industrial gases in Israel, primarily offering merchant gas products. The results of this business are consolidated within our Industrial Gases – EMEA segment. Fiscal Year 2019 As further discussed below, we completed three business combinations in fiscal year 2019. Exchange of Equity Affiliate Investments We previously 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 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 is reflected as "Gain on exchange with joint venture partner" on our consolidated income statements in fiscal year 2019 and was not recorded in results of the Industrial Gases – Asia segment. 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 are consolidated within our Industrial Gases – Asia segment. Other Fiscal Year 2019 Business Combinations The remaining business combinations completed in fiscal year 2019 had total consideration, net of cash acquired, of $126.6. The largest of these business combinations was the acquisition of ACP Europe SA ("ACP"), the largest independent carbon dioxide business in Continental Europe. The results of this business are consolidated within our Industrial Gases – EMEA segment.

Revenue Recognition

12 Months Ended

Sep. 30, 2021

Revenue Recognition [Abstract]

Revenue Recognition

REVENUE RECOGNITION

Nature of Goods and Services

The principal activities from which we generate sales from our 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, 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 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. We also deliver smaller quantities of product through small on-site plants (cryogenic or non-cryogenic generators), typically via 10- to 15- year sale of gas contracts. 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 we typically design and install 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

We design and manufacture equipment for air separation, hydrocarbon recovery and purification, natural gas liquefaction, 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.

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. In addition, 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. Changes in estimates unfavorably impacted operating income by approximately $19 in fiscal year 2021. Changes in estimates favorably impacted operating income by approximately $7 and $37 in fiscal years 2020 and 2019, respectively. Our changes in estimates would not have significantly impacted amounts recorded in prior years.

Disaggregation of Revenue

The table below presents our consolidated sales disaggregated by supply mode 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	%
2021
On-site	$2,469.5	$873.1	$1,718.8	$—	$—	$5,061.4	49	%
Merchant	1,698.1	1,571.8	1,202.0	—	—	4,471.9	43	%
Sale of Equipment	—	—	—	511.0	278.7	789.7	8	%
Total	$4,167.6	$2,444.9	$2,920.8	$511.0	$278.7	$10,323.0	100	%

2020
On-site	$2,040.2	$629.3	$1,652.8	$—	$—	$4,322.3	49	%
Merchant	1,590.5	1,297.0	1,063.7	—	—	3,951.2	45	%
Sale of Equipment	—	—	—	364.9	217.9	582.8	6	%
Total	$3,630.7	$1,926.3	$2,716.5	$364.9	$217.9	$8,856.3	100	%

2019
On-site	$2,230.6	$728.4	$1,622.6	$—	$—	$4,581.6	52	%
Merchant	1,642.9	1,274.1	1,041.0	—	—	3,958.0	44	%
Sale of Equipment	—	—	—	261.0	118.3	379.3	4	%
Total	$3,873.5	$2,002.5	$2,663.6	$261.0	$118.3	$8,918.9	100	%

Remaining Performance Obligations

As of 30 September 2021, the transaction price allocated to remaining performance obligations is estimated to be approximately $24 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 on stream is excluded from this amount. In addition, this amount excludes consideration associated with contracts having 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 amended, terminated, or renewed contracts.

Contract Balances

The table below details balances arising from contracts with customers:


30 September	Balance Sheet Location	2021	2020
Assets
Contract assets – current	Other receivables and current assets	$119.4	$55.9
Contract fulfillment costs – current	Other receivables and current assets	125.5	109.9
Liabilities
Contract liabilities – current	Payables and accrued liabilities	366.8	313.8
Contract liabilities – noncurrent	Other noncurrent liabilities	58.4	57.9

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.

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.

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 September 2021 and 2020 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. The increase in our contract liabilities – current balance primarily relates to new sale of equipment projects as balances associated with our sale of gas contracts are generally related to fixed charges and are relatively consistent period over period. During the fiscal year ended 30 September 2021, we recognized approximately $240 in revenue associated with sale of equipment contracts that was included within our contract liabilities as of 30 September 2020. 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 fiscal year ended 30 September 2021 were not materially impacted by any other factors.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
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-Paragraph 12
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-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
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-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

Discontinued Operations	12 Months Ended
Discontinued Operations	Sep. 30, 2021
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	DISCONTINUED OPERATIONSIn fiscal year 2021, income from discontinued operations, net of tax, was $70.3. This included net tax benefits of $60.0 recorded upon release of tax liabilities related to uncertain tax positions for which the statute of limitations expired. Of this benefit, we recorded $51.8 in the fourth quarter for liabilities associated with our former Performance Materials Division ("PMD") and $8.2 in the third quarter for liabilities associated with our former Energy-from-Waste ("EfW") business. Additionally, we recorded a tax benefit of $10.3 in the first quarter of fiscal year 2021 primarily from the settlement of a state tax appeal related to the gain on the sale of PMD in fiscal year 2017. Our consolidated statement of cash flows for the fiscal year ended 30 September 2021 includes $6.7 received as part of the settlement.In fiscal year 2020, loss from discontinued operations, net of tax, was $14.3. This resulted from a pre-tax loss of $19.0 recorded in the second quarter to increase our existing liability for retained environmental obligations associated with the sale of our former Amines business in September 2006. Refer to the Pace discussion within Note 16, Commitments and Contingencies, for additional information. The loss did not have an impact on our cash flows for the fiscal year ended 30 September 2020

Inventories

12 Months Ended

Sep. 30, 2021

Inventory Disclosure [Abstract]

Inventories

INVENTORIES

The components of inventories are as follows:


30 September	2021	2020
Finished goods	$150.7	$134.5
Work in process	24.0	21.3
Raw materials, supplies and other	279.2	249.0
Inventories	$453.9	$404.8

Summarized Financial Information of Equity Affiliates

12 Months Ended

Sep. 30, 2021

Equity Method Investments and Joint Ventures [Abstract]

Summarized Financial Information of Equity Affiliates

SUMMARIZED FINANCIAL INFORMATION OF EQUITY AFFILIATES

The summarized financial information below is on a combined 100% basis and has been compiled based on financial statements of the companies accounted for by the equity method. The amounts presented include the accounts of the following equity affiliates:


Abdullah Hashim Industrial Gases & Equipment Co., Ltd. (25%);						INFRA Group (40%);
Air Products South Africa (Proprietary) Limited (50%);						INOX Air Products Private Limited (50%);
Bangkok Cogeneration Company Limited (49%);						Jazan Gas Projects Company (26%);
Bangkok Industrial Gases Co., Ltd. (49%);						Kulim Industrial Gases Sdn. Bhd. (50%);
Chengdu Air & Gas Products Ltd. (50%);						Sapio Produzione Idrogeno Ossigeno S.r.l. (49%);
Helios S.p.A. (49%);						and principally, other industrial gas producers.


30 September		2021	2020
Current assets		$2,244.6	$1,943.5
Noncurrent assets		4,630.7	4,529.2
Current liabilities		774.0	765.3
Noncurrent liabilities		2,852.5	2,958.8

Fiscal Year Ended 30 September	2021	2020	2019
Net sales	$3,338.1	$2,809.1	$2,885.6
Gross profit	1,492.9	1,212.5	1,193.4
Operating income	962.2	748.6	763.4
Net income	646.0	567.8	492.4

Dividends received from equity affiliates were $157.3, $107.0, and $144.3 in fiscal years 2021, 2020, and 2019, respectively.

The investment in net assets of and advances to equity affiliates as of 30 September 2021 and 2020 included investment in foreign affiliates of $1,648.0 and $1,431.3, respectively.

As of 30 September 2021 and 2020, the amount of investment in companies accounted for by the equity method included equity method goodwill of $55.3 and $50.0, respectively.

India Finance Act 2020

Our consolidated income statements in fiscal year 2020 include a benefit of $33.8 reflected in equity affiliates' income for our share of accumulated dividend distribution taxes released with respect to INOX Air Products Private Limited, an equity affiliate investment in our Industrial Gases – Asia segment. This benefit, which related to tax legislation passed by the Indian government, was not recorded in segment results. Refer to Note 21, Income Taxes, for additional information. The benefit is included in fiscal year 2020 net income in the table above on a 100% basis.

Jazan Gas Project Company

On 19 April 2015, Jazan Gas Project Company, a joint venture between Air Products and ACWA Holding, entered into a 20-year oxygen and nitrogen supply agreement to supply Aramco’s oil refinery and power plant being built in Jazan, Saudi Arabia. We own 26% of the joint venture and guarantee repayment of our share of an equity bridge loan. ACWA also guarantees their share of the loan. We determined that the joint venture is a variable interest entity for which we are not the primary beneficiary. As of 30 September 2021, our consolidated balance sheets included $94.4 reflected within "Payables and accrued liabilities" for our obligation to make equity contributions based on our proportionate share of the advances received by the joint venture under the loan.

Subsequent Event

As part of the Jazan Integrated Gasification and Power Company transaction discussed in Note 24, Subsequent Events, Jazan Gas Project Company sold its air separation units to Aramco in October 2021 and repaid its outstanding debt, including the equity bridge loan.

Plant and Equipment, Net

12 Months Ended

Sep. 30, 2021

Property, Plant and Equipment [Abstract]

Plant and Equipment, Net

PLANT AND EQUIPMENT, NET

The major classes of plant and equipment are as follows:


30 September	Useful Life in years			2021	2020
Land				$312.1	$296.8
Buildings			30	1,083.1	997.8
Production facilities(A)	10	to	20	18,236.9	17,289.7



Distribution and other machinery and equipment(B)	5	to	25	5,111.6	4,807.7
Construction in progress				2,745.1	1,784.2
Plant and equipment, at cost				27,488.8	25,176.2
Less: Accumulated depreciation				14,234.2	13,211.5
Plant and equipment, net				$13,254.6	$11,964.7

(A)Depreciable lives of production facilities related to long-term customer supply contracts are generally matched to the contract lives.

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

Depreciation expense was $1,284.1, $1,150.5, and $1,049.7 in fiscal years 2021, 2020, and 2019, respectively.

Goodwill

12 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

GOODWILL

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


	Industrial Gases– Americas	Industrial Gases– EMEA	Industrial Gases– Asia	Industrial Gases– Global	Corporate and other	Total
Goodwill, net at 30 September 2019	$156.3	$432.3	$178.5	$19.6	$10.4	$797.1

Acquisitions	—	66.6	—	—	4.5	71.1
Currency translation and other	(3.7)	25.2	1.9	(0.1)	—	23.3
Goodwill, net at 30 September 2020	$152.6	$524.1	$180.4	$19.5	$14.9	$891.5

Acquisitions	—	21.0	—	—	—	21.0
Currency translation and other	(1.6)	(3.6)	3.9	0.3	—	(1.0)
Goodwill, net at 30 September 2021	$151.0	$541.5	$184.3	$19.8	$14.9	$911.5

In fiscal year 2021, goodwill acquired is primarily attributable to expected cost synergies and growth opportunities related to a business combination completed in the second quarter. This goodwill is not deductible for tax purposes. Refer to Note 3, Acquisitions, for additional information.


30 September	2021	2020	2019
Goodwill, gross	$1,239.2	$1,230.2	$1,162.2
Accumulated impairment losses(A)	(327.7)	(338.7)	(365.1)
Goodwill, net	$911.5	$891.5	$797.1

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

We review goodwill for impairment annually in the fourth quarter of the fiscal year and whenever events or changes in circumstances indicate that the carrying value of goodwill might not be recoverable. The impairment test for goodwill involves calculating the fair value of each reporting unit and comparing that value to the carrying value. If the fair value of the reporting unit is less than its carrying value, the difference is recorded as a goodwill impairment charge, not to exceed the total amount of goodwill allocated to that reporting unit. During the fourth quarter of fiscal year 2021, we conducted our annual goodwill impairment test and determined that the fair value of all our reporting units exceeded their carrying value.

Intangible Assets

12 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

INTANGIBLE ASSETS

The table below summarizes the major classes of our intangible assets:


	2021			2020
30 September	Gross	Accumulated Amortization/ Impairment	Net	Gross	Accumulated Amortization/ Impairment	Net
Finite-lived:
Customer relationships	$552.0	($234.7)	$317.3	$538.0	($209.9)	$328.1
Patents and technology	36.8	(16.9)	19.9	39.1	(16.3)	22.8
Other	80.5	(37.3)	43.2	77.6	(33.7)	43.9
Total finite-lived intangible assets	669.3	(288.9)	380.4	654.7	(259.9)	394.8
Indefinite-lived:
Trade names and trademarks	51.2	(10.9)	40.3	52.2	(11.2)	41.0
Total Intangible Assets	$720.5	($299.8)	$420.7	$706.9	($271.1)	$435.8

The decrease in net intangible assets in fiscal year 2021 was primarily attributable to amortization, partially offset by intangible assets acquired through business combinations.

Amortization expense for intangible assets was $37.2, $34.5, and $33.1 in fiscal years 2021, 2020, and 2019, respectively. Refer to Note 1, Major Accounting Policies, for the amortization periods for each major class of intangible assets.

The table below details the amount of amortization expense expected to be recorded for our finite-lived intangible assets in each of the next five years and thereafter:


2022			$34.7
2023			33.2
2024			32.1
2025			30.8
2026			29.2
Thereafter			220.4
Total			$380.4

Indefinite-lived intangible assets are subject to impairment testing at least annually or more frequently if events or changes in circumstances indicate that potential impairment exists. The impairment test for indefinite-lived intangible assets involves calculating the fair value of the indefinite-lived intangible assets and comparing the fair value to their carrying value. If the fair value is less than the carrying value, the difference is recorded as an impairment loss. During the fourth quarter of fiscal year 2021, we conducted our annual impairment test of indefinite-lived intangible assets and determined that the fair value of all our intangible assets exceeded their carrying value.

Leases

12 Months Ended

Sep. 30, 2021

Leases [Abstract]

Leases

LEASES

Lessee Accounting

We are the lessee under various agreements for real estate, vehicles, aircraft, and other equipment that are accounted for as operating leases. Our finance leases principally relate to the right to use machinery and equipment and are not material.

Operating lease expense was $89.5 and $80.1 for fiscal years 2021 and 2020, respectively. These amounts exclude short-term and variable lease expenses, which were not material.

Amounts associated with operating leases and their presentation on our consolidated balance sheets are as follows:


30 September	2021	2020
Operating lease right-of-use assets
Other noncurrent assets	$566.2	$376.8
Operating lease liabilities
Payables and accrued liabilities	78.6	70.7
Other noncurrent liabilities	503.4	335.8
Total operating lease liabilities	$582.0	$406.5


30 September	2021		2020
Weighted-average remaining lease term in years(A)	17.2		15.7


Weighted-average discount rate(B)	1.9	%	2.1	%

(A)Calculated on the basis of the remaining lease term and the lease liability balance for each lease as of the reporting date.

(B)Calculated on the basis of the discount rate used to calculate the lease liability for each lease and the remaining balance of the lease payments for each lease as of the reporting date.

The following maturity analysis of our operating lease liabilities as of 30 September 2021 presents the undiscounted cash flows for each of the next five years and thereafter with a reconciliation to the lease liability recognized on our balance sheet:


												Operating Leases
2022												$88.4
2023												71.3
2024												60.4
2025												51.1
2026												40.4
Thereafter												361.5
Total undiscounted lease payments												673.1
Imputed interest												(91.1)
Present value of lease liability recognized on balance sheet												$582.0

The impacts associated with our operating leases on the consolidated statements of cash flows are reflected within "Other adjustments" within operating activities. This includes non-cash operating lease expense of $89.5 and $80.1, as well as a use of cash of $98.8 and $90.0 for payments on amounts included in the measurement of the lease liability for fiscal years 2021 and 2020, respectively.

We recorded $259 and $442 of noncash right-of-use asset additions during fiscal years 2021 and 2020, respectively.

We have additional operating leases that have not yet commenced as of 30 September 2021 having lease payments totaling approximately $195.

Lessor Accounting

Certain contracts associated with facilities that are built to provide product to a specific customer have been accounted for as leases. As we generally control the operations and maintenance of the assets that provide the supply of gas to our customers, there have been no new arrangements that qualified as a lease in fiscal year 2021.

In cases where operating lease treatment is appropriate, there is no difference in revenue recognition over the life of the contract as compared to accounting for the contract under a sale of gas agreement. These contracts qualify for a practical expedient available to lessors to combine the lease and non-lease components and account for the combined component in accordance with the accounting treatment for the predominant component. We elected to apply this practical expedient and have accounted for the combined component as product sales under the revenue standard as we control the operations and maintenance of the assets that provide the supply of gas to our customers.

In cases where sales-type lease treatment is appropriate, revenue and expense are recognized up front for the sale of equipment component of the contract as compared to revenue recognition over the life of the arrangement under contracts not qualifying as sales-type leases. Additionally, a portion of the revenue representing interest income from the financing component of the lease receivable is reflected as sales over the life of the contract. During fiscal years 2021 and 2020, we recognized interest income of $67.4 and $71.2 on our lease receivables, respectively.

Our contracts generally do not have the option to extend or terminate the lease or provide the customer the right to purchase the asset at the end of the contract term. Instead, renewal of such contracts requires negotiation of mutually agreed terms by both parties. Unless the customer terminates within the required notice period, the contract will go into evergreen. Given the long-term duration of our contracts, there is no assumed residual value for the assets at the end of the lease term.

Lease receivables, net, primarily relate to sales-type leases on certain on-site assets which are collected over the contract term. As of 30 September 2021 and 2020, our lease receivables, net were $824.7 and $903.0, respectively. Lease receivables, net are primarily included within "Noncurrent lease receivables" on our consolidated balance sheets, with the remaining balance in "Other receivables and current assets." The majority of our leases are of high credit quality and were originated prior to fiscal year 2017. As of 30 September 2021 and 2020, the credit quality of lease receivables did not require a material allowance for credit losses.

Lease payments collected in fiscal years 2021, 2020, and 2019 were $166.2, $162.8, and $171.6, respectively. These payments reduced the lease receivable balance by $98.8, $91.6, and $94.6 in fiscal years 2021, 2020, and 2019, respectively.

As of 30 September 2021, minimum lease payments expected to be collected, which reconciles to lease receivables, net, were as follows:


2022			$146.8
2023			143.1
2024			137.0
2025			131.4
2026			120.6
Thereafter			508.7
Total			1,187.6
Unearned interest income			(362.9)
Lease Receivables, net			$824.7

Leases

LEASES

Lessee Accounting

Operating lease expense was $89.5 and $80.1 for fiscal years 2021 and 2020, respectively. These amounts exclude short-term and variable lease expenses, which were not material.

Amounts associated with operating leases and their presentation on our consolidated balance sheets are as follows:


30 September	2021	2020
Operating lease right-of-use assets
Other noncurrent assets	$566.2	$376.8
Operating lease liabilities
Payables and accrued liabilities	78.6	70.7
Other noncurrent liabilities	503.4	335.8
Total operating lease liabilities	$582.0	$406.5


30 September	2021		2020
Weighted-average remaining lease term in years(A)	17.2		15.7


Weighted-average discount rate(B)	1.9	%	2.1	%

(A)Calculated on the basis of the remaining lease term and the lease liability balance for each lease as of the reporting date.

(B)Calculated on the basis of the discount rate used to calculate the lease liability for each lease and the remaining balance of the lease payments for each lease as of the reporting date.


												Operating Leases
2022												$88.4
2023												71.3
2024												60.4
2025												51.1
2026												40.4
Thereafter												361.5
Total undiscounted lease payments												673.1
Imputed interest												(91.1)
Present value of lease liability recognized on balance sheet												$582.0

We recorded $259 and $442 of noncash right-of-use asset additions during fiscal years 2021 and 2020, respectively.

We have additional operating leases that have not yet commenced as of 30 September 2021 having lease payments totaling approximately $195.

Lessor Accounting

As of 30 September 2021, minimum lease payments expected to be collected, which reconciles to lease receivables, net, were as follows:


2022			$146.8
2023			143.1
2024			137.0
2025			131.4
2026			120.6
Thereafter			508.7
Total			1,187.6
Unearned interest income			(362.9)
Lease Receivables, net			$824.7

Financial Instruments

12 Months Ended

Sep. 30, 2021

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 and third-party debt. This portfolio of forward exchange contracts consists primarily of Euros and U.S. Dollars. The maximum remaining term of any forward exchange contract currently outstanding and designated as a cash flow hedge at 30 September 2021 is 3.2 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 our business activity and sourcing decisions.

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


	2021		2020
30 September	US$ Notional	Years Average Maturity	US$ Notional	Years Average Maturity
Forward Exchange Contracts
Cash flow hedges	$3,465.2	0.6	$2,842.1	0.5
Net investment hedges	638.0	3.0	636.6	3.8
Not designated	692.6	0.1	1,685.2	0.3
Total Forward Exchange Contracts	$4,795.8	0.8	$5,163.9	0.8

The decrease in the notional value of forward exchange contracts that are not designated is primarily due to 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 €1,297.5 million ($1,502.6) at 30 September 2021 and €1,288.7 million ($1,510.8) at 30 September 2020. 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 September 2021, 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 table below summarizes our outstanding interest rate management contracts and cross currency interest rate swaps:


	2021						2020
30 September	US$ Notional	Average Pay %		Average Receive %		Years Average Maturity	US$ Notional	Average Pay %		Average Receive %		Years Average Maturity
Interest rate swaps (fair value hedge)	$200.0	LIBOR		2.76	%	0.1	$200.0	LIBOR		2.76	%	1.1
Cross currency interest rate swaps (net investment hedge)	$210.2	4.32	%	3.14	%	2.2	$201.6	4.27	%	3.12	%	3.2
Cross currency interest rate swaps (cash flow hedge)	$1,005.7	4.98	%	2.93	%	2.7	$1,057.9	4.83	%	2.98	%	2.5
Cross currency interest rate swaps (not designated)	$4.2	5.39	%	3.54	%	2.2	$12.8	5.39	%	3.54	%	3.2

The table below provides the amounts recorded on the consolidated balance sheet related to cumulative basis adjustments for fair value hedges:


	Carrying amounts of hedged item		Cumulative hedging adjustment, included in carrying amount
30 September	2021	2020	2021	2020
Current portion of long-term debt	$400.5	$—	$0.5	$—
Long-term debt	—	405.4	—	5.7

The table below summarizes the fair value and balance sheet location of our outstanding derivatives. Refer to Note 13, Fair Value Measurements, which defines fair value, describes the method for measuring fair value, and provides additional disclosures regarding fair value measurements.


30 September	Balance Sheet Location	2021	2020	Balance Sheet Location	2021	2020
Derivatives Designated as Hedging Instruments:
Forward exchange contracts	Other receivables and current assets	$35.1	$51.1	Payables and accrued liabilities	$57.2	$22.5
Interest rate management contracts	Other receivables and current assets	16.0	14.7	Payables and accrued liabilities	5.2	0.4
Forward exchange contracts	Other noncurrent assets	5.5	0.8	Other noncurrent liabilities	25.2	33.0
Interest rate management contracts	Other noncurrent assets	18.1	44.3	Other noncurrent liabilities	27.5	1.7
Total Derivatives Designated as Hedging Instruments		$74.7	$110.9		$115.1	$57.6
Derivatives Not Designated as Hedging Instruments:
Forward exchange contracts	Other receivables and current assets	$8.7	$31.7	Payables and accrued liabilities	$6.4	$28.0


Interest rate management contracts	Other noncurrent assets	—	0.7	Other noncurrent liabilities	—	—
Total Derivatives Not Designated as Hedging Instruments		$8.7	$32.4		$6.4	$28.0
Total Derivatives		$83.4	$143.3		$121.5	$85.6

The table below summarizes gains (losses) recognized in other comprehensive income during the period related to our net investment and cash flow hedging relationships:


	2021	2020
Net Investment Hedging Relationships
Forward exchange contracts	$11.4	($15.9)
Foreign currency debt	18.1	(100.2)
Cross currency interest rate swaps	(7.9)	1.9
Total Amount Recognized in OCI	21.6	(114.2)
Tax effects	(5.5)	28.2
Net Amount Recognized in OCI	$16.1	($86.0)

Derivatives in Cash Flow Hedging Relationships
Forward exchange contracts	$12.7	$116.6
Forward exchange contracts, excluded components	(11.7)	(15.2)
Other(A)	(6.7)	(34.2)
Total Amount Recognized in OCI	(5.7)	67.2
Tax effects	9.0	(23.7)
Net Amount Recognized in OCI	$3.3	$43.5

(A)Other primarily includes interest rate and cross currency interest rate swaps for which excluded components are recognized in “Payables and accrued liabilities” and “Other receivables and current assets” as a component of accrued interest payable and accrued interest receivable, respectively. These excluded components are recorded in “Other non-operating income (expense), net” over the life of the cross currency interest rate swap. Other also includes the recognition of our share of gains and losses, net of tax, related to interest rate swaps held by our equity affiliates.

The table below summarizes the location and amounts recognized in income related to our cash flow and fair value hedging relationships by contract type:


	Sales		Cost of Sales		Interest Expense			Other Non-Operating Income (Expense), Net
	2021	2020	2021	2020		2021	2020		2021	2020
Total presented in consolidated income statements that includes effects of hedging below	$10,323.0	$8,856.3	$7,186.1	$5,858.1		$141.8	$109.3		$73.7	$30.7
(Gain) Loss Effects of Cash Flow Hedging:
Forward Exchange Contracts:
Amount reclassified from OCI into income	($0.8)	($0.2)	($0.8)	($1.0)		$—	$—		$5.2	($117.9)

Amount excluded from effectiveness testing recognized in earnings based on amortization approach	—	—	—	—		—	—		9.1	17.0
Other:
Amount reclassified from OCI into income	—	—	—	—		5.6	4.2		39.1	22.5

Total (Gain) Loss Reclassified from OCI to Income	(0.8)	(0.2)	(0.8)	(1.0)		5.6	4.2		53.4	(78.4)
Tax effects	0.2	—	0.5	0.2		(2.1)	(1.4)		(12.5)	18.9
Net (Gain) Loss Reclassified from OCI to Income	($0.6)	($0.2)	($0.3)	($0.8)		$3.5	$2.8		$40.9	($59.5)
(Gain) Loss Effects of Fair Value Hedging:
Other:
Hedged items	$—	$—	$—	$—		($5.2)	$0.5		$—	$—
Derivatives designated as hedging instruments	—	—	—	—		5.2	(0.5)		—	—
Total (Gain) Loss Recognized in Income	$—	$—	$—	$—		$—	$—		$—	$—

The table below summarizes the location and amounts recognized in income related to our derivatives not designated as hedging instruments by contract type:


	Other Income (Expense), Net		Other Non-Operating Income (Expense), Net
	2021	2020	2021	2020
The Effects of Derivatives Not Designated as Hedging Instruments:
Forward Exchange Contracts	$2.8	($1.5)	($2.7)	$1.1
Other	—	—	0.5	0.7
Total (Gain) Loss Recognized in Income	$2.8	($1.5)	($2.2)	$1.8

The amount of unrealized gains and losses related to cash flow hedges as of 30 September 2021 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 $53.4 and $30.0 as of 30 September 2021 and 2020, 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 $38.1 and $76.5 as of 30 September 2021 and 2020, respectively. No financial institution is required to post collateral at this time, as all have credit ratings at or above threshold.

Fair Value Measurements

12 Months Ended

Sep. 30, 2021

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 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. 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 12, 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:


	2021		2020
30 September	Carrying Value	Fair Value	Carrying Value	Fair Value
Assets
Derivatives
Forward exchange contracts	$49.3	$49.3	$83.6	$83.6
Interest rate management contracts	34.1	34.1	59.7	59.7
Liabilities
Derivatives
Forward exchange contracts	$88.8	$88.8	$83.5	$83.5
Interest rate management contracts	32.7	32.7	2.1	2.1
Long-term debt, including current portion and related party	7,634.8	7,812.2	7,900.1	8,278.4

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:


	2021				2020
30 September	Total	Level 1	Level 2	Level 3	Total	Level 1	Level 2	Level 3
Assets at Fair Value



Derivatives
Forward exchange contracts	$49.3	$—	$49.3	$—	$83.6	$—	$83.6	$—
Interest rate management contracts	34.1	—	34.1	—	59.7	—	59.7	—
Total Assets at Fair Value	$83.4	$—	$83.4	$—	$143.3	$—	$143.3	$—
Liabilities at Fair Value
Derivatives
Forward exchange contracts	$88.8	$—	$88.8	$—	$83.5	$—	$83.5	$—
Interest rate management contracts	32.7	—	32.7	—	2.1	—	2.1	—
Total Liabilities at Fair Value	$121.5	$—	$121.5	$—	$85.6	$—	$85.6	$—

- 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

Debt

12 Months Ended

Sep. 30, 2021

Debt Disclosure [Abstract]

Debt

DEBT

The table below summarizes our total outstanding debt as reflected on our consolidated balance sheets:


30 September	2021	2020
Short-term borrowings(A)	$2.4	$7.7
Current portion of long-term debt(B)	484.5	470.0
Long-term debt	6,875.7	7,132.9
Long-term debt – related party	274.6	297.2
Total Debt	$7,637.2	$7,907.8

(A)Includes bank obligations with weighted average interest rates of 0.6% and 1.6% as of 30 September 2021 and 2020, respectively.

(B)Includes current portion of long-term debt owed to a related party of $83.8 and $41.3 as of 30 September 2021 and 2020, respectively.

Total related party debt, including the current portion, was $358.4 and $338.5 as of 30 September 2021 and 30 September 2020, respectively. This debt primarily relates to a loan with our joint venture partner, Lu’An Clean Energy Company, which partially funded the acquisition of their assets by a consolidated joint venture in 2018.

The table below summarizes the coupon interest rates, fiscal year maturities, and carrying amounts of our long-term debt, including current portion and amounts owed to related parties:


30 September	Maturities	2021	2020
Payable in U.S. Dollars
Debentures
8.75%	2021	$—	$18.4
Medium-term Notes (weighted average rate)
Series E 7.6%	2026	17.2	17.2
Senior Notes
Note 3.0%	2022	400.0	400.0
Note 2.75%	2023	400.0	400.0
Note 3.35%	2024	400.0	400.0
Note 1.50%	2026	550.0	550.0
Note 1.85%	2027	650.0	650.0
Note 2.05%	2030	900.0	900.0
Note 2.70%	2040	750.0	750.0
Note 2.80%	2050	950.0	950.0
Other (weighted average rate)
Variable-rate industrial revenue bonds 0.02%	2035 to 2050	618.9	631.9
Other 1.57%	2024 to 2032	14.4	—
Payable in Other Currencies
Eurobonds 0.375%	2021	—	410.3
Eurobonds 1.0%	2025	347.4	351.7
Eurobonds 0.50%	2028	579.1	586.2
Eurobonds 0.80%	2032	579.1	586.2
New Taiwan Dollar 1.86%	2023 to 2028	161.8	—
Other	2023	0.3	0.6
Related Party
Chinese Renminbi 5.5%	2022 to 2027	355.0	338.5
Chinese Renminbi 5.7%	2033	3.4	—
Capital Lease Obligations (weighted average rate)

Foreign 11.6%	2022 to 2036	8.1	9.2
Total Principal Amount		7,684.7	7,950.2
Less: Unamortized discount and debt issuance costs		(50.4)	(55.8)
Less: Fair value hedge accounting adjustments(A)		0.5	5.7
Total Long-term Debt		7,634.8	7,900.1
Less: Current portion of long-term debt		(484.5)	(470.0)
Less: Long-term debt – related party		(274.6)	(297.2)
Long-term Debt		$6,875.7	$7,132.9

(A)We entered into LIBOR-based interest rate swaps with various financial institutions to hedge a portion of the 3.0% Senior Note maturing in fiscal year 2022. These interest rate swaps have been designated as fair value hedges of the Note. Refer to Note 12, Financial Instruments, for additional information.

Principal maturities of long-term debt, including current portion and amounts owed to related parties, in each of the next five years and thereafter are as follows:


2022			$484.0
2023			475.8
2024			492.5
2025			449.2
2026			662.7
Thereafter			5,120.5
Total			$7,684.7

Cash paid for interest, net of amounts capitalized, was $150.4, $67.2, and $155.9 in fiscal years 2021, 2020, and 2019, respectively.

Subsequent Event

In November 2021, we repaid the 3.0% Senior Note of $400, plus interest, on its maturity date.

Debt Covenants

Various debt agreements to which we are a party include financial covenants and other restrictions, including restrictions pertaining to the ability to create property liens and enter into certain sale and leaseback transactions. As of 30 September 2021, we are in compliance with all the financial and other covenants under our debt agreements.

Credit Facilities

On 31 March 2021, we entered into a five-year $2,500 revolving credit agreement with a syndicate of banks (the “2021 Credit Agreement”), under which senior unsecured debt is available to us and certain of our subsidiaries. The 2021 Credit Agreement provides a source of liquidity and supports our commercial paper program. The only financial covenant in the 2021 Credit Agreement is a maximum ratio of total debt to capitalization (equal to total debt plus total equity) not to exceed 70%. No borrowings were outstanding under the 2021 Credit Agreement as of 30 September 2021.

The 2021 Credit Agreement replaced our previous five-year $2,300 revolving credit agreement, which was to have matured on 31 March 2022. No borrowings were outstanding under the previous agreement as of 30 September 2020 or at the time of its termination. No early termination penalties were incurred.

We have credit facilities available to certain of our foreign subsidiaries totaling $296.7, of which $176.2 was borrowed and outstanding as of 30 September 2021.

2020 Debt Issuance

In fiscal year 2020, we issued U.S. Dollar- and Euro-denominated fixed-rate notes with aggregate principal amounts of $3.8 billion and €1.0 billion, respectively. Our consolidated statement of cash flows for the fiscal year ended 30 September 2020 includes long-term debt proceeds of $4,895.8 from these issuances.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

Retirement Benefits

12 Months Ended

Sep. 30, 2021

Retirement Benefits [Abstract]

Retirement Benefits

RETIREMENT BENEFITS

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

Defined Benefit Pension Plans

Pension benefits earned are generally based on years of service and compensation during active employment. The components of net periodic (benefit) cost for our defined benefit pension plans for fiscal years 2021, 2020, and 2019 were as follows:


	2021		2020		2019
Fiscal Year Ended 30 September	U.S.	International	U.S.	International	U.S.	International
Service cost	$21.3	$23.4	$23.4	$23.3	$21.4	$19.3
Interest cost	68.9	25.2	91.2	24.8	113.4	35.8
Expected return on plan assets	(194.5)	(83.4)	(188.7)	(77.4)	(172.5)	(75.1)
Prior service cost amortization	1.2	—	1.2	—	1.1	—
Actuarial loss amortization	78.5	19.3	83.7	19.5	65.3	10.9
Settlements	1.3	0.5	5.0	0.2	6.2	0.2

Special termination benefits	—	—	—	—	0.7	0.1
Other	—	1.0	—	0.8	—	0.8
Net Periodic (Benefit) Cost	($23.3)	($14.0)	$15.8	($8.8)	$35.6	($8.0)

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 2021, 2020 and 2019 were 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 settlement losses 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. We recognized pension settlement losses of $1.3, $5.0 and $6.2 in fiscal years 2021, 2020 and 2019, respectively, to accelerate recognition of a portion of actuarial losses deferred in accumulated other comprehensive loss associated with the U.S. supplementary pension plan.

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


	2021				2020				2019
	U.S.		International		U.S.		International		U.S.		International

Discount rate – Service cost	3.0	%	1.6	%	3.3	%	1.5	%	4.3	%	2.5	%
Discount rate – Interest cost	2.1	%	1.2	%	2.9	%	1.3	%	4.0	%	2.2	%
Expected return on plan assets	6.8	%	4.7	%	7.0	%	5.0	%	7.0	%	5.3	%
Rate of compensation increase	3.5	%	3.3	%	3.5	%	3.3	%	3.5	%	3.5	%

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


	2021				2020
	U.S.		International		U.S.		International
Discount rate	2.9	%	1.8	%	2.7	%	1.5	%
Rate of compensation increase	3.5	%	3.3	%	3.5	%	3.3	%

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


	2021		2020
	U.S.	International	U.S.	International
Change in Projected Benefit Obligation
Obligation at beginning of year	$3,423.8	$1,949.7	$3,281.6	$1,864.0
Service cost	21.3	23.4	23.4	23.3
Interest cost	68.9	25.2	91.2	24.8
Amendments	0.5	—	1.6	—
Actuarial (gain) loss	(17.7)	(30.9)	190.5	(11.6)


Settlements	(3.0)	(1.8)	(11.7)	(0.9)
Special termination benefits	—	—	—	—
Participant contributions	—	1.3	—	1.2
Benefits paid	(158.5)	(52.8)	(152.5)	(49.8)
Currency translation and other	—	55.5	(0.3)	98.7
Obligation at End of Year	$3,335.3	$1,969.6	$3,423.8	$1,949.7


	2021		2020
	U.S.	International	U.S.	International
Change in Plan Assets
Fair value at beginning of year	$3,048.3	$1,726.8	$2,832.4	$1,672.4
Actual return on plan assets	450.0	140.1	364.6	(3.1)
Company contributions	6.9	37.7	15.5	22.0
Participant contributions	—	1.3	—	1.2

Benefits paid	(158.5)	(52.8)	(152.5)	(49.8)
Settlements	(3.0)	(1.8)	(11.7)	(0.9)
Currency translation and other	—	53.7	—	85.0
Fair Value at End of Year	$3,343.7	$1,905.0	$3,048.3	$1,726.8
Funded Status at End of Year	$8.4	($64.6)	($375.5)	($222.9)


	2021		2020
	U.S.	International	U.S.	International
Amounts Recognized
Noncurrent assets	$90.5	$128.7	$26.5	$—
Accrued liabilities	19.6	0.5	10.5	0.2
Noncurrent liabilities	62.5	192.8	391.5	222.7
Net Asset (Liability) Recognized	$8.4	($64.6)	($375.5)	($222.9)

The changes in plan assets and benefit obligation that have been recognized in other comprehensive income on a pretax basis during fiscal years 2021 and 2020 consist of the following:


	2021		2020
	U.S.	International	U.S.	International
Net actuarial (gain)/loss arising during the period	($273.2)	($87.6)	$14.6	$68.9
Amortization of net actuarial loss	(79.8)	(19.8)	(88.7)	(19.7)
Prior service cost arising during the period	0.5	—	1.6	—
Amortization of prior service cost	(1.2)	—	(1.2)	—



Total	($353.7)	($107.4)	($73.7)	$49.2

The net actuarial gains and losses represent the actual changes in the estimated obligation and plan assets that have not yet been recognized in the consolidated income statements and are included in accumulated other comprehensive loss. Actuarial gains arising during fiscal year 2021 are primarily attributable to higher than expected return on plan assets and higher discount rates. Accumulated actuarial gains and losses that exceed a corridor are amortized over the average remaining service period of active U.S. participants, which was approximately seven years as of 30 September 2021. For U.K. participants, accumulated actuarial gains and losses that exceed a corridor are amortized over the average remaining life expectancy, which was approximately twenty-four years as of 30 September 2021.

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


	2021		2020
	U.S.	International	U.S.	International
Net actuarial loss	$444.7	$535.8	$797.7	$643.2
Prior service cost	6.3	3.6	7.0	3.6
Net transition liability	—	0.4	—	0.4



Total	$451.0	$539.8	$804.7	$647.2

The accumulated benefit obligation ("ABO") is the actuarial present value of benefits attributed to employee service rendered to a particular date, based on current salaries. The ABO for all defined benefit pension plans was $5,140.0 and $5,166.5 as of 30 September 2021 and 2020, respectively.

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


	2021		2020
30 September	U.S.	International	U.S.	International
Pension Plans with PBO in Excess of Plan Assets:
PBO	$82.1	$456.6	$3,202.2	$1,949.7
Fair value of plan assets	—	263.4	2,800.3	1,726.7
PBO in excess of plan assets	$82.1	$193.2	$401.9	$223.0
Pension Plans with ABO in Excess of Plan Assets:
ABO	$79.2	$416.8	$3,081.4	$475.8
Fair value of plan assets	—	263.4	2,800.3	324.4
ABO in excess of plan assets	$79.2	$153.4	$281.1	$151.4

The tables above include several pension arrangements that are not funded because of jurisdictional practice. The ABO and PBO related to these plans as of 30 September 2021 were $86.2 and $91.7, respectively. As of 30 September 2021, the U.S. salaried and U.K. pension plans had plan assets in excess of both PBO and ABO resulting in a decrease to the U.S. and International balances presented above. As of 30 September 2020, the PBO of these plans exceeded the fair value of plan assets.

Pension Plan Assets

Our pension plan investment strategy is to invest in diversified portfolios to earn a long-term return consistent with acceptable risk in order to pay retirement benefits and meet regulatory funding requirements while minimizing company cash contributions over time. De-risking strategies are also employed for closed plans as funding improves, generally resulting in higher allocations to long duration bonds. The plans invest primarily in passive and actively managed equity and debt securities. Equity investments are diversified geographically and by investment style and market capitalization. Fixed income investments include sovereign, corporate and asset-backed securities generally denominated in the currency of the plan.

Asset allocation targets are established based on the long-term return, volatility and correlation characteristics of the asset classes, the profiles of the plans’ liabilities, and acceptable levels of risk. Assets are routinely rebalanced through contributions, benefit payments, and otherwise as deemed appropriate. The actual and target allocations at the measurement date are as follows:


	2021 Target Allocation				2021 Actual Allocation				2020 Actual Allocation
	U.S.		International		U.S.		International		U.S.		International
Asset Category
Equity securities	20 - 35%		29 - 38%		30	%	36	%	51	%	43	%
Debt securities	61 - 76%		62 - 71%		64	%	63	%	43	%	56	%
Real estate and other	— - 10%		—	%	6	%	—	%	5	%	—	%
Cash	—	%	2	%	—	%	1	%	1	%	1	%
Total					100	%	100	%	100	%	100	%

In fiscal year 2021, the 6.75% expected return for U.S. plan assets was based on a weighted average of estimated long-term returns of major asset classes and the historical performance of plan assets. In determining asset class returns, we take into account historical long-term returns and the value of active management, as well as other economic and market factors.

In fiscal year 2021, the 4.73% expected rate of return for international plan assets was based on a weighted average return for plans outside the U.S., which vary significantly in size, asset structure and expected returns. The expected asset return for the U.K. plan, which represents over 80% of the assets of our International plans, is 5.30% and was derived from expected equity and debt security returns.

The table below summarizes pension plan assets measured at fair value by asset class (see Note 13, Fair Value Measurements, for definition of the levels):


	2021				2020
30 September	Total	Level 1	Level 2	Level 3	Total	Level 1	Level 2	Level 3
U.S. Qualified Pension Plans
Cash and cash equivalents	$14.8	$14.8	$—	$—	$16.9	$16.9	$—	$—
Equity securities	325.3	325.3	—	—	573.9	573.9	—	—
Equity mutual funds	243.4	243.4	—	—	213.1	213.1	—	—
Equity pooled funds	448.7	—	448.7	—	762.0	—	762.0	—
Fixed income:
Bonds (government and corporate)	2,125.6	—	2,125.6	—	1,312.7	—	1,312.7	—
Total U.S. Qualified Pension Plans at Fair Value	$3,157.8	$583.5	$2,574.3	$—	$2,878.6	$803.9	$2,074.7	$—
Real estate pooled funds(A)	185.9				169.7
Total U.S. Qualified Pension Plans	$3,343.7				$3,048.3
International Pension Plans
Cash and cash equivalents	$16.8	$16.8	$—	$—	$13.9	$13.9	$—	$—
Equity pooled funds	676.4	—	676.4	—	746.8	—	746.8	—
Fixed income pooled funds	948.5	—	948.5	—	694.1	—	694.1	—
Other pooled funds	16.7	—	16.7	—	15.5	—	15.5	—
Insurance contracts	246.6	—	—	246.6	256.5	—	—	256.5
Total International Pension Plans	$1,905.0	$16.8	$1,641.6	$246.6	$1,726.8	$13.9	$1,456.4	$256.5

(A)Real estate pooled funds consist of funds that invest in properties. These funds generally allow for quarterly redemption with 30 days' notice. Timing for redemption could be delayed based on the priority of our request and the availability of funds. Interests in these funds are valued using the net asset value ("NAV") per share practical expedient and are not classified in the fair value hierarchy.

The table below summarizes changes in fair value of the pension plan assets classified as Level 3, which is comprised of investments in insurance contracts:


Balance at 30 September 2019																								$254.1
Actual return on plan assets:
Assets held at end of year																								2.4


Balance at 30 September 2020																								$256.5
Actual return on plan assets:
Assets held at end of year																								(7.9)

Purchases, sales, and settlements, net																								(2.0)
Balance at 30 September 2021																								$246.6

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

Cash and Cash Equivalents

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

Equity Securities

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

Equity Mutual and Pooled Funds

Shares of mutual funds are valued at the daily closing price as reported by the fund. The mutual funds are required to publish their daily NAV and to transact at that price. The mutual funds are deemed to be actively traded and are classified as Level 1 assets. Units of pooled funds are valued at the per unit NAV determined by the fund manager based on the value of the underlying traded holdings and are classified as Level 2 assets.

Corporate and Government Bonds

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

Fixed Income Pooled Funds

Fixed income pooled funds are classified as Level 2 assets, as they are valued at the NAV of the shares held at year end, which is determined by the fund manager based on quoted market pricing from observable pricing sources at the reporting date or valued based upon comparable securities with similar yields, credit ratings, or factors. Fixed income pooled funds may hold government bonds, index linked bonds, corporate bonds, cash and derivative instruments.

Other Pooled Funds

Other pooled funds are classified as Level 2 assets, as they are valued at the NAV of the shares held at year end, which is based on the fair value of the underlying investments.

Insurance Contracts

Insurance contracts are classified as Level 3 assets, as they are carried at contract value, which approximates the estimated fair value. The estimated fair value is based on the fair value of the underlying investment of the insurance company and discount rates that require inputs with limited observability.

Contributions and Projected Benefit Payments

Pension contributions to funded plans and benefit payments for unfunded plans for fiscal year 2021 were $44.6. Contributions for funded plans resulted primarily from contractual and regulatory requirements. Benefit payments to unfunded plans were due primarily to the timing of retirements. We anticipate contributing $40 to $50 to the defined benefit pension plans in fiscal year 2022. These contributions are anticipated to be driven primarily by contractual and regulatory requirements for funded plans and benefit payments for unfunded plans, which are dependent upon timing of retirements.

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


	U.S.	International
2022	$179.3	$56.8
2023	170.4	60.2
2024	174.3	64.0
2025	178.1	64.6
2026	180.7	68.3
2027-2031	936.5	375.9

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

Defined Contribution Plans

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

We treat dividends paid on ESOP shares as ordinary dividends. Under existing tax law, we may deduct dividends which are paid with respect to shares held by the plan. Shares of our common stock in the ESOP totaled 1,941,938 as of 30 September 2021.

Our contributions to the RSP include a Company core contribution for certain eligible employees who do not receive their primary retirement benefit from the defined benefit pension plans, with the core contribution based on a percentage of pay that is dependent on years of service. For the RSP, we also make matching contributions on overall employee contributions as a percentage of the employee contribution and include an enhanced contribution for certain eligible employees that do not participate in the defined benefit pension plans. Worldwide contributions expensed to income in fiscal years 2021, 2020, and 2019 were $53.3, $45.6, and $40.6, respectively.

Other Postretirement Benefits

We provide other postretirement benefits consisting primarily of healthcare benefits to certain U.S. retirees who meet age and service requirements. The healthcare benefit is a continued medical benefit until the retiree reaches age 65. Healthcare benefits are contributory, with contributions adjusted periodically. The retiree medical costs are capped at a specified dollar amount, with the retiree contributing the remainder. The cost of these benefits was not material in fiscal years 2021, 2020, and 2019. Accumulated postretirement benefit obligations as of the end of fiscal years 2021 and 2020 were $27.4 and $38.6, respectively, of which $5.5 and $7.2 were current obligations, respectively.

We recognize changes in other postretirement benefit plan obligations in other comprehensive income on a pretax basis. In fiscal years 2021 and 2020, we recognized gains that arose during the period of $5.4 and $1.3, respectively. There was $1.8 net actuarial gain amortization in fiscal year 2021 and no actuarial gain amortization in 2020 as the corridor for the plan was not exceeded.

The net actuarial gain recognized in accumulated other comprehensive loss on a pretax basis was $6.6 and $3.0 as of 30 September 2021 and 2020, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921

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+ Details

Commitments and Contingencies

12 Months Ended

Sep. 30, 2021

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

COMMITMENTS AND CONTINGENCIES

Litigation

We are involved in various legal proceedings, including commercial, competition, environmental, intellectual property, regulatory, product liability, and insurance matters. 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.

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 $33 at 30 September 2021) on Air Products Brasil Ltda. This fine was based on a recommendation by a unit of the Brazilian Ministry of Justice, following an investigation beginning in 2003, which alleged 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. In the event of an adverse final judgment, we estimate the maximum possible loss to be the full amount of the fine of R$179.2 million (approximately $33 at 30 September 2021) plus interest accrued thereon until final disposition of the proceedings.

Additionally, Winter Storm Uri, a severe winter weather storm in the U.S. Gulf Coast in February 2021, disrupted our operations and caused power and natural gas prices to spike significantly in Texas. We are currently in the early stages of litigation of a dispute regarding energy management services related to the impact of this unusual event, and other disputes may arise from such power price increases. In addition, legislative action may affect power supply and energy management charges. While it is reasonably possible that we could incur additional costs related to power supply and energy management services in Texas related to the winter storm, it is too early to estimate potential losses, if any, given significant unknowns resulting from the unusual nature of this event.

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 31 sites on which a final settlement has not been reached where we, along with others, have been designated a potentially responsible party by environmental authorities or are otherwise engaged in investigation or remediation, including cleanup activity at certain of our current and former manufacturing sites. We continually monitor these sites for which we have environmental exposure.

Accruals for environmental loss contingencies are recorded when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. The consolidated balance sheets at 30 September 2021 and 2020 included an accrual of $76.7 and $84.7, respectively, primarily as part of other noncurrent liabilities. The environmental liabilities will be paid over a period of up to 30 years. We estimate the exposure for environmental loss contingencies to range from $76 to a reasonably possible upper exposure of $90 as of 30 September 2021.

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

Pace

At 30 September 2021, $39.8 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 recognized a before-tax expense of $42 in fiscal year 2006 in results from discontinued operations and recorded an environmental accrual of $42 in continuing operations on the consolidated balance sheets.

During the second quarter of fiscal year 2020, we completed an updated cost review of the environmental remediation status at the Pace facility. The review was completed in conjunction with requirements to maintain financial assurance per the Consent Order issued by the FDEP discussed below. Based on our review, we expect ongoing activities to continue for 30 years. Additionally, we will require near-term spending to install new groundwater recovery wells and ancillary equipment, in addition to future capital to consider the extended time horizon for remediation at the site. As a result of these changes, we increased our environmental accrual for this site by $19 in continuing operations on the consolidated balance sheets and recognized a before-tax expense of $19 in results from discontinued operations in the second quarter of fiscal year 2020. There has been no change to the estimated exposure range related to the Pace facility in fiscal year 2021.

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 corrective action management unit. Several groundwater recovery systems have been installed to contain and remove contamination from groundwater. We completed an extensive assessment of the site to determine the efficacy of existing measures, 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 remediate groundwater. 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, along with the completion of a cost review every 5 years. In the second quarter of fiscal year 2020, we completed an updated cost review which resulted in a change in assumptions regarding future operating costs as discussed above.

Piedmont

At 30 September 2021, $9.5 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, after which we signed a Consent Agreement Amendment memorializing our obligations to complete the cleanup of the site. Remediation has started in accordance with the design, which includes in-situ chemical oxidation treatment, as well as the installation of a soil vapor extraction system to remove volatile organic compounds from the unsaturated soils beneath the impacted areas of the plant. We estimate that source area remediation and groundwater recovery and treatment will continue through 2029. Thereafter, we expect this site to go into a state of monitored natural attenuation through 2047.

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

Pasadena

At 30 September 2021, $11.2 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, establishing engineering controls, and performing a pilot study to treat impacted soils. In 2012, we estimated the total exposure at this site to be $13. There have been no significant changes to the estimated exposure.

Asset Retirement Obligations

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

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


Balance at 30 September 2019			$208.2
Additional accruals			22.0
Liabilities settled			(2.8)
Accretion expense			9.5
Currency translation adjustment			4.5
Balance at 30 September 2020			$241.4
Additional accruals			16.5
Liabilities settled			(4.1)
Accretion expense			10.5
Currency translation adjustment			5.3
Balance at 30 September 2021			$269.6

Warranties and Guarantees

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

Warranties

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

Guarantees

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

We are party to an equity support agreement and operations guarantee related to an air separation facility constructed in Trinidad for a venture in which we own 50%. At 30 September 2021, maximum potential payments under joint and several guarantees were $24.0. Exposures under the guarantees decline over time and will be completely extinguished by 2024.

We guaranteed the repayment of our 25% share of an equity bridge loan that has been provided to fund equity commitments to the Jazan Gas Project Company joint venture with ACWA Holding in Saudi Arabia. ACWA also guarantees their share of the loan. As of 30 September 2021, our maximum exposure under the guarantee was approximately $100, and payables and accrued liabilities on our consolidated balance sheets included $94.4 for our obligation to make equity contributions.

We also have a long-term sale of equipment contract with the joint venture to engineer, procure, and construct the industrial gas facilities that will supply gases to Aramco. We provided bank guarantees to the joint venture to support our performance under the contract. As of 30 September 2021, our maximum potential payments were $247.

Subsequent Event

Unconditional Purchase Obligations

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


2022			$1,656
2023			540
2024			543
2025			563
2026			545
Thereafter			6,135
Total			$9,982

Approximately $8.3 billion of our unconditional purchase obligations relate to helium and rare gases. The majority of these obligations occur after fiscal year 2026. Helium purchases include crude feedstock supply to helium refining plants in North America as well as refined helium purchases from sources around the world. As a rare byproduct of natural gas production in the energy sector, these helium sourcing agreements are medium- to long-term and contain take-if-tendered provisions. The refined helium is distributed globally and sold as a merchant gas, primarily under medium-term requirements contracts. While contract terms in our helium sourcing contracts are generally longer than our customer sales contracts, helium is a rare gas used in applications with few or no substitutions because of its unique physical and chemical properties.

We estimate our maximum obligation for future purchases of plant and equipment to be approximately $1.0 billion based on open purchase orders as of 30 September 2021. Although open purchase orders are considered enforceable and legally binding, the terms generally allow us the option to reschedule, cancel, or otherwise modify based on our business needs. We have disclosed this obligation in fiscal year 2022; however, timing of actual satisfaction of the obligation may vary.

Our unconditional purchase obligations also include commitments for power and natural gas supply as well as feedstock supply for numerous HyCO (hydrogen, carbon monoxide, and syngas) facilities. Our long-term sales contracts to customers are generally matched to the term of these obligations and provide recovery of price increases. As a result, we do not believe these purchase obligations would have a material effect on our financial condition or results of operations.

Capital Stock

12 Months Ended

Sep. 30, 2021

Equity [Abstract]

Capital Stock

CAPITAL STOCK

Common Stock

Authorized common stock consists of 300 million shares with a par value of $1 per share. As of 30 September 2021, 249 million shares were issued, with 221 million outstanding.

On 15 September 2011, the Board of Directors authorized the repurchase of up to $1.0 billion of our outstanding common stock. We repurchase shares pursuant to Rules 10b5-1 and 10b-18 under the Securities Exchange Act of 1934, as amended, through repurchase agreements established with several brokers. We did not purchase any of our outstanding shares during fiscal year 2021. At 30 September 2021, $485.3 in share repurchase authorization remains.

A summary of the changes in common shares in fiscal year 2021 is presented below:


Fiscal Year Ended 30 September	2021	2020	2019
Number of common shares outstanding, beginning of year	221,017,459	220,415,262	219,515,245
Issuance of treasury shares for stock option and award plans	379,296	602,197	900,017
Number of common shares outstanding, end of year	221,396,755	221,017,459	220,415,262

Preferred Stock

Authorized preferred stock consisted of 25 million shares with a par value of $1 per share, of which 2.5 million were designated as Series A Junior Participating Preferred Stock. There were no preferred shares issued or outstanding as of 30 September 2021 and 2020.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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+ Details

Share-Based Compensation

12 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement [Abstract]

Share-Based Compensation

SHARE-BASED COMPENSATION

Our outstanding share-based compensation programs include deferred stock units and stock options. During the fiscal year ended 30 September 2021, we granted market-based and time-based deferred stock units. We have not issued stock option awards since fiscal year 2015. The terms of our share-based awards are fixed at the grant date. We issue shares from treasury stock upon payout of deferred stock units and exercise of stock options.

At the annual shareholders meeting held on 28 January 2021, the shareholders approved a new Long-Term Incentive Plan ("LTIP"), which has an authorized pool of 1,500,000 shares available for future grant, plus additional shares underlying awards outstanding on the date the LTIP was adopted but that are not issued. As of 30 September 2021, there were 1,566,433 shares available for future grant under our LTIP.

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


	2021	2020	2019
Before-tax share-based compensation cost	$44.5	$55.8	$41.2


Income tax benefit	(11.0)	(13.0)	(9.7)
After-tax share-based compensation cost	$33.5	$42.8	$31.5

Before-tax share-based compensation cost relates to deferred stock units and is primarily included in "Selling and administrative" on our consolidated income statements. The amount of share-based compensation cost capitalized in fiscal years 2021, 2020, and 2019 was not material.

Deferred Stock Units

We have granted deferred stock units to executives, selected employees, and outside directors. These deferred stock units entitle the recipient to one share of common stock upon vesting, which is conditioned, for employee recipients, on continued employment during the deferral period and may be conditioned on achieving certain performance targets. We grant deferred stock unit awards with a two- to five-year deferral period that is subject to payout upon death, disability, or retirement. Deferred stock units issued to outside directors are paid after service on the Board of Directors ends at the time elected by the director (not to exceed 10 years after service ends). We generally expense the grant-date fair value of these awards on a straight-line basis over the vesting period; however, expense recognition is accelerated for retirement eligible individuals who meet the requirements for vesting upon retirement. We have elected to account for forfeitures as they occur, rather than to estimate them. Forfeitures have not been significant historically.

Market-based deferred stock units vest as long as the employee continues to be employed by the Company and upon the achievement of the performance target. The performance target, which is approved by the Compensation Committee, is our share price appreciation and dividends paid, or "total shareholder return," in relation to a defined peer group over a three-year performance period beginning 1 October of the fiscal year of grant. We granted 77,251, 80,215, and 114,929 market-based deferred stock units in fiscal years 2021, 2020, and 2019, respectively.

The fair value of market-based deferred stock units was estimated using a Monte Carlo simulation model as these equity awards are tied to a market condition. The model utilizes multiple input variables that determine the probability of satisfying the market condition stipulated in the grant and calculates the fair value of the awards. We generally expense the grant-date fair value of these awards on a straight-line basis over the vesting period. The estimated grant-date fair value of market-based deferred stock units was $235.48, $275.19, and $229.61 per unit in fiscal years 2021, 2020, and 2019, respectively. The calculation of the fair value of these market-based deferred stock units used the following assumptions:


	2021		2020		2019
Expected volatility	29.9	%	17.8	%	17.5	%
Risk-free interest rate	0.2	%	1.6	%	2.8	%
Expected dividend yield	2.1	%	2.4	%	2.6	%

In addition, we granted 110,555 time-based deferred stock units at a weighted average grant-date fair value of $282.48. In fiscal years 2020 and 2019, we granted 123,448 and 169,666 time-based deferred stock units at a weighted average grant-date fair value of $230.92 and $168.68, respectively.

A summary of deferred stock unit activity in fiscal year 2021 is presented below:


	Shares (000)	Weighted Average Grant-Date Fair Value
Deferred stock units outstanding at 30 September 2020	926	$181.14


Granted	188	261.95
Paid out	(330)	185.33
Forfeited	(17)	241.55
Adjusted	87	161.64
Deferred stock units outstanding at 30 September 2021	854	$194.12

Cash payments made for deferred stock units totaled $5.2, $4.8, and $1.9 in fiscal years 2021, 2020, and 2019, respectively. As of 30 September 2021, there was $47.0 of unrecognized compensation cost related to deferred stock units. This cost is expected to be recognized over a weighted average period of 1.5 years. The total fair value of deferred stock units paid out during fiscal years 2021, 2020, and 2019, including shares vested in prior periods, was $88.0, $65.4, and $19.2, respectively.

Stock Options

We have granted awards of options to purchase common stock to executives and selected employees. The exercise price of stock options equals the market price of our stock on the date of the grant. Options generally vest incrementally over three years and remain exercisable for ten years from the date of grant. As of 30 September 2021, there was no unrecognized compensation cost as all stock option awards were fully vested.

A summary of stock option activity in fiscal year 2021 is presented below:


	Shares (000)	Weighted Average Exercise Price
Stock options outstanding and exercisable at 30 September 2020	941	$96.95



Exercised	(140)	80.63

Stock options outstanding and exercisable at 30 September 2021	801	$99.79

The weighted average remaining contractual term of stock options outstanding and exercisable at 30 September 2021 was 1.9 years. The aggregate intrinsic value of these stock options was $125, which represents the amount by which our closing stock price of $256.11 as of 30 September 2021 exceeds the exercise price multiplied by the number of in-the-money options outstanding or exercisable. The intrinsic value of stock options exercised during fiscal years 2021, 2020, and 2019 was $29.0, $65.7, and $87.2, respectively.

Compensation cost is generally recognized over the stated vesting period consistent with the terms of the arrangement, which is either on a straight-line or graded-vesting basis. Expense recognition is accelerated for retirement-eligible individuals who would meet the requirements for vesting of awards upon their retirement.

Cash received from option exercises during fiscal year 2021 was $10.6. The total tax benefit realized from stock option exercises in fiscal year 2021 was $6.8, of which $6.5 was the excess tax benefit.

Accumulated Other Comprehensive Loss

12 Months Ended

Sep. 30, 2021

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

Accumulated Other Comprehensive Loss

ACCUMULATED OTHER COMPREHENSIVE LOSS

The table below summarizes changes in accumulated other comprehensive loss ("AOCL"), net of tax, attributable to Air Products:


	Derivatives qualifying as hedges	Foreign currency translation adjustments	Pension and postretirement benefits	Total
Balance at 30 September 2018	($37.6)	($1,009.8)	($694.5)	($1,741.9)
Other comprehensive loss before reclassifications	(44.1)	(356.2)	(326.2)	(726.5)
Amounts reclassified from AOCL	12.3	(2.6)	63.2	72.9
Net current period other comprehensive loss	($31.8)	($358.8)	($263.0)	($653.6)
Amount attributable to noncontrolling interests	(8.0)	(11.7)	(0.2)	(19.9)
Balance at 30 September 2019	($61.4)	($1,356.9)	($957.3)	($2,375.6)
Other comprehensive income (loss) before reclassifications	43.5	233.4	(68.2)	208.7
Amounts reclassified from AOCL	(57.7)	—	82.5	24.8
Net current period other comprehensive income (loss)	($14.2)	$233.4	$14.3	$233.5
Amount attributable to noncontrolling interest	(21.1)	19.3	(0.2)	(2.0)
Balance at 30 September 2020	($54.5)	($1,142.8)	($942.8)	($2,140.1)
Other comprehensive income before reclassifications	3.3	267.3	274.3	544.9
Amounts reclassified from AOCL	43.5	—	74.6	118.1
Net current period other comprehensive income	$46.8	$267.3	$348.9	$663.0

Amount attributable to noncontrolling interest	20.6	18.3	(0.1)	38.8
Balance at 30 September 2021	($28.3)	($893.8)	($593.8)	($1,515.9)

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


Fiscal Year Ended 30 September	2021	2020	2019
(Gain) Loss on Cash Flow Hedges, net of tax
Sales	($0.6)	($0.2)	$0.4
Cost of sales	(0.3)	(0.8)	0.2
Other income (expense), net	—	—	(3.0)
Interest expense	3.5	2.8	14.7
Other non-operating income (expense), net(A)	40.9	(59.5)	—
Total (Gain) Loss on Cash Flow Hedges, net of tax	$43.5	($57.7)	$12.3






Currency Translation Adjustment(B)	$—	$—	($2.6)

Pension and Postretirement Benefits, net of tax(C)	$74.6	$82.5	$63.2

(A)The fiscal years 2021 and 2020 impacts include amortization of the excluded component and the effective portion of the related hedges.

(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 3, 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 15, Retirement Benefits, for additional information.

Earnings Per Share

12 Months Ended

Sep. 30, 2021

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS PER SHARE

The table below details the computation of basic and diluted earnings per share ("EPS"):


Fiscal Year Ended 30 September	2021	2020	2019
Numerator
Net income from continuing operations	$2,028.8	$1,901.0	$1,760.0
Net income (loss) from discontinued operations	70.3	(14.3)	—
Net Income Attributable to Air Products	$2,099.1	$1,886.7	$1,760.0

Denominator (in millions)
Weighted average common shares — Basic	221.6	221.2	220.3
Effect of dilutive securities
Employee stock option and other award plans	0.9	1.1	1.3
Weighted average common shares — Diluted	222.5	222.3	221.6

Per Share Data*
Basic EPS from continuing operations	$9.16	$8.59	$7.99
Basic EPS from discontinued operations	0.32	(0.06)	—
Basic EPS Attributable to Air Products	$9.47	$8.53	$7.99
Diluted EPS from continuing operations	$9.12	$8.55	$7.94
Diluted EPS from discontinued operations	0.32	(0.06)	—
Diluted EPS Attributable to Air Products	$9.43	$8.49	$7.94

*EPS is calculated independently for each component and may not sum to total EPS due to rounding.

Diluted EPS attributable to Air Products reflects the potential dilution that could occur if stock options or other share-based awards were exercised or converted into common stock. The dilutive effect is computed using the treasury stock method, which assumes all share-based awards are exercised, and the hypothetical proceeds from exercise are used by the Company to purchase common stock at the average market price during the period. To the extent they would have been dilutive, the incremental shares, or the difference between shares assumed to be issued versus purchased, are included in the denominator of the diluted EPS calculation. There were no antidilutive outstanding share-based awards in fiscal years 2021, 2020 and 2019.

Income Taxes

12 Months Ended

Sep. 30, 2021

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

The table below summarizes income from U.S. and foreign operations before taxes:


	2021	2020	2019

United States income	$924.6	$943.7	$723.3
Foreign income	1,288.7	1,215.3	1,350.8
Equity affiliates' income	294.1	264.8	215.4
Income from continuing operations before taxes	$2,507.4	$2,423.8	$2,289.5

The table below details the components of our income tax provision:


	2021	2020	2019
Current Tax Provision
Federal	$85.6	$26.9	$163.7
State	28.4	23.8	23.3
Foreign	254.8	262.7	235.5
Total current tax provision	368.8	313.4	422.5
Deferred Tax Provision
Federal	54.7	108.8	9.7
State	(0.1)	(3.6)	2.4
Foreign	39.4	59.8	45.5
Total deferred tax provision	94.0	165.0	57.6
Total income tax provision	$462.8	$478.4	$480.1

Cash Paid for Taxes (Net of Cash Refunds)

Income tax payments, net of refunds, were $383.8, $379.9, and $324.3 in fiscal years 2021, 2020, and 2019, respectively. Fiscal year 2021 reflects an income tax refund of $6.7 that is related to cash provided by discontinued operations.

India Finance Act 2020

On 27 March 2020, the Indian government passed Finance Act 2020 (the "India Finance Act"), which amended rules regarding the taxation of dividends declared and distributed by Indian companies. Under the India Finance Act, future dividends declared or distributed by an Indian company are no longer subject to dividend distribution tax. Instead, any non-resident recipient is subject to a withholding tax. Our income tax provision for the fiscal year ended 30 September 2020 reflected an expense of $20.3 for estimated withholding taxes that we may incur on future dividends related to INOX Air Products Private Limited ("INOX"), an equity affiliate investment in our Industrial Gases – Asia segment. Additionally, we recorded a benefit of $33.8 within "Equity affiliates' income" for our share of accumulated dividend distribution taxes released with respect to INOX.

U.S. Tax Cuts and Jobs Act

On 22 December 2017, the United States enacted the U.S. Tax Cuts and Jobs Act (the “Tax Act” or "Tax Reform"), which significantly changed existing U.S. tax laws, including a reduction in the federal corporate income tax rate to 21%, a deemed repatriation tax on unremitted foreign earnings, as well as other changes. Our consolidated income statements reflect a discrete net income tax expense of $43.8 in fiscal year 2019 related to impacts of the Tax Act. The net expense included the reversal of a non-recurring $56.2 benefit initially recorded in fiscal year 2018 related to the U.S. taxation of deemed foreign dividends, which was eliminated by regulations issued in fiscal year 2019. The reversal in 2019 was partially offset by a benefit of $12.4 to reduce the total expected costs of the deemed repatriation tax.

As of 30 September 2021, the remaining liability for the deemed repatriation tax is $177.7, $157.1 of which is presented within noncurrent liabilities on our consolidated balance sheets. We are paying this obligation in installments over five remaining years.

Effective Tax Rate

The effective tax rate equals the income tax provision divided by income from continuing operations before taxes. A reconciliation of the differences between the United States federal statutory tax rate and the effective tax rate is provided below:


(Percent of income before taxes)	2021		2020		2019
U.S. federal statutory tax rate	21.0	%	21.0	%	21.0	%
State taxes, net of federal benefit	0.9		0.6		1.0
Income from equity affiliates	(2.5)		(2.3)		(2.0)
Foreign tax differentials	0.5		0.1		1.0
Tax on foreign repatriated earnings	0.7		0.9		0.1
Share-based compensation	(0.7)		(0.8)		(0.6)
Tax reform repatriation	—		—		1.9






Other	(1.4)		0.2		(1.4)
Effective Tax Rate	18.5	%	19.7	%	21.0	%

Foreign tax differentials represent the differences between foreign earnings subject to foreign tax rates that are different than the U.S. federal statutory rate and include tax holidays and incentives. Our income tax holidays relate to operations in jurisdictions that provide reduced income tax rates for certain qualifying activities and are conditional upon us meeting certain operating thresholds. The impact of these tax holidays decreased income tax expense by $26.9 ($0.12 per share) in fiscal year 2020, primarily related to a preferential tax rate in China that is effective until 31 December 2030. This includes the impact of remeasurement of the deferred tax assets and liabilities in 2020 due to an extension of the holiday period in China. The impact of tax holidays in fiscal years 2021 and 2019 was not material.

Tax on foreign repatriated earnings includes benefits and costs related to U.S. and foreign taxation on the current and future repatriation of foreign earnings and a U.S. benefit for related foreign tax credits. The effective tax rate in 2020 reflects impacts from the India Finance Act 2020 discussed above. In addition, the Tax Act included new provisions related to the taxation of foreign operations, known as Global Intangible Low Tax Income (“GILTI”). We have elected as an accounting policy to account for GILTI as a period cost when incurred.

Share-based compensation reflects the impact from recognition of $17.0, $20.0, and $14.6 of excess tax benefits in our provision for income taxes during fiscal years 2021, 2020, and 2019, respectively.

In fiscal year 2021, other includes net tax benefits of $21.5, including interest, resulting from the release of U.S. unrecognized tax benefits upon expiration of the statute of limitations on uncertain tax positions taken in prior years.

Deferred Tax Assets and Liabilities

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


30 September	2021	2020
Gross Deferred Tax Assets
Retirement benefits and compensation accruals	$69.4	$209.0
Tax loss carryforwards	120.9	112.6
Tax credits and other tax carryforwards	27.3	40.3
Reserves and accruals	74.5	67.0

Currency losses	30.4	30.4
Other	44.0	64.6
Valuation allowance	(97.6)	(95.0)
Deferred Tax Assets	268.9	428.9
Gross Deferred Tax Liabilities
Plant and equipment	1,171.8	1,110.9


Unremitted earnings of foreign entities	69.1	58.7
Partnership and other investments	15.3	19.3
Intangible assets	86.2	83.6
Other	7.2	3.9
Deferred Tax Liabilities	1,349.6	1,276.4
Net Deferred Income Tax Liability	$1,080.7	$847.5

Deferred tax assets and liabilities are included within the consolidated balance sheets as follows:


	2021	2020
Deferred Tax Assets
Other noncurrent assets	$100.2	$115.1
Deferred Tax Liabilities
Deferred income taxes	1,180.9	962.6
Net Deferred Income Tax Liability	$1,080.7	$847.5

Deferred tax liabilities related to plant and equipment increased due to the impact of accelerated tax depreciation deductions in excess of book depreciation primarily in the United States. Deferred tax assets related to retirement benefits and compensation accruals are impacted by changes in plan assets and benefit obligations that have been recognized in other comprehensive income. This balance decreased primarily due to higher than expected asset returns and higher discount rates. Deferred tax assets related to tax credits and other tax carryforwards decreased primarily due to the utilization of tax credits against our income tax liabilities.

As of 30 September 2021, we had the following deferred tax assets for certain tax credits:


Jurisdiction	Gross Tax Asset	Expiration Period
U.S. State	$2.2	2022 - 2035
U.S. Federal	2.1	2027 - 2031
Foreign	27.5	2022 - 2041; Indefinite

Of the $27.5 foreign tax credits, $14.2 have indefinite carryforward periods.

As of 30 September 2021, we had the following loss carryforwards:


Jurisdiction	Gross Loss Carryforward	Expiration Period
U.S. State Net Operating Loss	$318.8	2022 - 2040
U.S. Federal Capital Loss	26.5	2025
Foreign Net Operating Loss	258.8	2022 - 2036; Indefinite
Foreign Capital Loss	221.6	Indefinite

Of the $258.8 of foreign net operating loss carryforwards, $111.5 have indefinite carryforward periods.

The valuation allowance was $97.6 and $95.0 as of 30 September 2021 and 2020, respectively. As of 30 September 2021, the balance primarily related to $35.1 of foreign credits and loss carryforwards as well as $55.4 related to foreign capital losses that were generated from the loss recorded on the exit from the Energy-from-Waste project in 2016. If events warrant the reversal of the valuation allowance, it would result in a reduction of tax expense. We believe it is more likely than not that future earnings and reversal of deferred tax liabilities will be sufficient to utilize our deferred tax assets, net of existing valuation allowance, as of 30 September 2021.

We record income taxes on the undistributed earnings of our foreign subsidiaries and corporate joint ventures unless those earnings are indefinitely reinvested. Such earnings may be subject to foreign withholding and other taxes. The cumulative undistributed earnings that are considered to be indefinitely reinvested in foreign subsidiaries and corporate joint ventures are included in retained earnings on the consolidated balance sheets and amounted to $5.9 billion as of 30 September 2021. An estimated $540.4 in additional foreign withholding and other income taxes would be due if these earnings were remitted as dividends.

Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of the unrecognized tax benefits, which excludes interest and penalties, is as follows:


	2021	2020	2019
Unrecognized tax benefits balance at beginning of year	$237.0	$231.7	$233.6
Additions for tax positions of the current year	14.5	7.6	7.8
Additions for tax positions of prior years	3.5	17.7	14.2
Reductions for tax positions of prior years	(8.2)	(4.1)	(14.7)
Settlements	(3.1)	(1.2)	(1.5)
Statute of limitations expiration	(104.6)	(14.0)	(3.9)
Foreign currency translation	1.2	(0.7)	(3.8)
Unrecognized tax benefits balance at end of year	$140.3	$237.0	$231.7

Of our unrecognized tax benefits as of 30 September 2021, $73.7 would impact the effective tax rate from continuing operations if recognized.

In fiscal year 2021, reserves for unrecognized tax benefits decreased $104.6 due to statute of limitation expirations. We released reserves of $65.6 related to the sale of our former Performance Materials Division (“PMD”), $8.2 associated with our former Energy-from-Waste business (“EfW”), and $27.5 for other reserves, including those associated with a tax election benefit related to a non-U.S. subsidiary in 2017. Upon release of the reserves related to PMD and EfW, we recorded income tax benefits of $51.8 and $8.2, respectively, as a component of discontinued operations. The PMD reserve was net of related deferred tax assets of $13.8. The release of other reserves of $27.5 was net of related deferred tax assets of $8.4 and resulted in an income tax benefit, including interest, of $21.5.

Interest and penalties related to unrecognized tax benefits are recorded as a component of income tax expense and totaled ($0.2), $6.1, and $12.0 in fiscal years 2021, 2020, and 2019, respectively. Our 2021 expense reflects a benefit from the reversal of accrued interest on reserves released during the period. Our accrued balance for interest and penalties was $24.9 and $25.2 as of 30 September 2021 and 2020, respectively.

Income Tax Examinations

We are currently under examination in a number of tax jurisdictions. It is reasonably possible that a change in our unrecognized tax benefits may occur in fiscal year 2022 if any of these examinations are resolved during the next twelve months. However, quantification of an estimated range cannot be made as of the date of this report.

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


Major Tax Jurisdiction			Open Tax Years
North America
United States – Federal			2018 - 2021
United States – State			2012 - 2021
Canada			2015 - 2021
Europe
France			2018 - 2021
Germany			2017 - 2021
Netherlands			2016 - 2021
Spain			2015 - 2021
United Kingdom			2018 - 2021
Asia
China			2011 - 2021
South Korea			2010 - 2021
Taiwan			2016 - 2021
Latin America
Chile			2018 - 2021

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 21
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-Section 50
-Paragraph 17
-Subparagraph (b)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 740
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-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Supplemental Information

12 Months Ended

Sep. 30, 2021

Disclosure Text Block Supplement [Abstract]

Supplemental Information

SUPPLEMENTAL INFORMATION


Other Receivables and Current Assets

30 September	2021	2020
Contract assets	$119.4	$55.9
Contract fulfillment costs	125.5	109.9
Derivative instruments	59.8	97.5

Current lease receivables	84.4	86.7
Other	161.8	132.9
Other receivables and current assets	$550.9	$482.9


Other Noncurrent Assets

30 September	2021	2020
Operating lease right-of-use assets	$566.2	$376.8
Pension benefits	219.2	26.5
Long-term deposits on plant and equipment	200.0	100.0
Deferred tax assets	100.2	115.1
Prepaid tax	75.0	19.3
Investments other than equity method	66.9	17.0
Derivative instruments	23.6	45.8


Other	255.4	242.6
Other noncurrent assets	$1,506.5	$943.1


Payables and Accrued Liabilities

30 September	2021	2020
Trade creditors	$736.8	$546.2

Contract liabilities	366.8	313.8
Dividends payable	332.1	296.2
Accrued payroll and employee benefits	221.2	196.8
Obligation for future contribution to an equity affiliate	150.0	94.4
Current lease obligations	78.6	70.7
Derivative instruments	68.8	50.9
Pension and postretirement benefits	25.6	17.9



Other	238.4	246.3
Payables and accrued liabilities	$2,218.3	$1,833.2


Other Noncurrent Liabilities

30 September	2021	2020
Operating lease liabilities	$503.4	$335.8
Asset retirement obligations	258.0	236.2
Pension benefits	255.3	614.2
Postretirement benefits	22.1	31.4

Long-term accrued income taxes related to U.S. tax reform	157.1	190.9
Contingencies related to uncertain tax positions	111.8	138.6
Environmental liabilities	68.5	73.6
Contract liabilities	58.4	57.9
Derivative instruments	52.7	34.7



Other	153.6	202.7
Other noncurrent liabilities	$1,640.9	$1,916.0

Related Party Transactions

Our consolidated income statements include sales to some of our equity affiliates and joint venture partners as well as other income primarily from fees charged for use of Air Products' patents and technology. Sales to and other income from related parties totaled approximately $225, $335, and $410 for the fiscal years ended 30 September 2021, 2020, and 2019, respectively. Sales 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. As of 30 September 2021 and 2020, our consolidated balance sheets included related party trade receivables of approximately $90 and $95, respectively.

In addition, refer to Note 14, Debt, for information concerning debt owed to related parties.

Facility Closures

During the second quarter of fiscal year 2021, we recorded a charge of $23.2 primarily for a noncash write-down of assets associated with a contract termination in the Industrial Gases – Americas segment. This charge is reflected as "Facility closure" on our consolidated income statements for the fiscal year ended 30 September 2021 and was not recorded in segment results.

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 was reflected as “Facility closure” on our consolidated income statements for the fiscal year ended 30 September 2019 and was not recorded in segment results.

Company Headquarters Relocation Income (Expense)

During the second quarter of fiscal year 2020, we sold property at our former corporate headquarters located in Trexlertown, Pennsylvania, in anticipation of relocating our U.S. headquarters. We received net proceeds of $44.1 and recorded a gain of $33.8, which is reflected on our consolidated income statements as "Company headquarters relocation income (expense)" for the fiscal year ended 30 September 2020. The gain was not recorded in the results of the Corporate and other segment.

Cost Reduction Actions

In fiscal year 2019, we recognized an expense of $25.5 for severance and other benefits associated with position eliminations. These actions were taken to drive cost synergies primarily within the Industrial Gases – EMEA and the Industrial Gases – Americas segments. The charge is reflected on our consolidated income statements as "Cost reduction actions" for the fiscal year ended 30 September 2019 and was not recorded in segment results

Business Segment and Geographic Information

12 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Business Segment and Geographic Information

BUSINESS SEGMENT AND GEOGRAPHIC INFORMATION

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

As of 30 September 2021, our reporting segments are:

•Industrial Gases – Americas;

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

•Industrial Gases – Asia;

•Industrial Gases – Global; and

•Corporate and other

On 4 November 2021, we announced the reorganization of our industrial gases segments effective 1 October 2021. Refer to Note 24, Subsequent Events, for additional information.

Industrial Gases – Regional

The regional Industrial Gases segments (Americas, EMEA, and Asia) include the results of our regional industrial gas businesses, which produce and sell atmospheric gases, such as oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide (CO2), carbon monoxide, and syngas (a mixture of hydrogen and carbon monoxide); and specialty gases. The industrial gases business also develops, builds, and operates equipment for the production or processing of gases, such as air separation units and non-cryogenic generators.

We supply gases to diversified customers in many industries, including those in refining, chemical, gasification, metals, electronics, manufacturing, and food and beverage, through a variety of supply modes. For additional information, refer to Note 4, Revenue Recognition.

Electricity is the largest cost component in the production of atmospheric gases. Steam methane reformers utilize natural gas as the primary raw material, and gasifiers use liquid and solid hydrocarbons as the principal raw material for the production of hydrogen, carbon monoxide, and syngas. We mitigate energy, natural gas, and hydrocarbon price fluctuations contractually through pricing formulas, surcharges, and cost pass-through and tolling arrangements.

The regional Industrial Gases segments also include our share of the results of several joint ventures accounted for by the equity method. The largest of these joint ventures operate in China, India, Italy, Mexico, Saudi Arabia, South Africa, and Thailand.

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

Industrial Gases – Global

The Industrial Gases – Global segment includes activity related to the sale of cryogenic and gas processing equipment for air separation. The equipment is sold worldwide to customers in a variety of industries, including chemical and petrochemical manufacturing, oil and gas recovery and processing, and steel and primary metals processing. The Industrial Gases – Global segment also includes centralized global costs associated with management of all the Industrial Gases segments. These costs include Industrial Gases global administrative costs, product development costs, and research and development costs. We compete with a large number of firms for all the offerings included in the Industrial Gases – Global segment. Competition in the equipment business is based primarily on technological performance, service, technical know-how, price, and performance guarantees.

Corporate and other

The Corporate and other segment includes our liquefied natural gas, turbo machinery equipment and services, and distribution sale of equipment businesses as well as our corporate support functions that benefit all segments. Competition for the sale of equipment businesses is based primarily on technological performance, service, technical know-how, price, and performance guarantees.

The results of the Corporate and other segment also include income and expense that is not directly associated with the other segments, such as foreign exchange gains and losses.

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

Customers

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

Accounting Policies

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

Business Segment Information


	Industrial Gases– Americas	Industrial Gases– EMEA	Industrial Gases– Asia	Industrial Gases– Global	Corporate and other	Total
2021
Sales	$4,167.6	$2,444.9	$2,920.8	$511.0	$278.7	$10,323.0	(A)
Operating income (loss)	1,065.5	557.4	838.3	(60.6)	(132.8)	2,267.8	(B)
Depreciation and amortization	611.9	229.8	444.4	10.9	24.3	1,321.3
Equity affiliates' income	112.5	93.7	81.4	6.5	—	294.1	(B)
Expenditures for long-lived assets	909.6	371.3	792.3	112.6	278.4	2,464.2
Investments in net assets of and advances to equity affiliates	383.8	587.4	608.1	70.0	—	1,649.3
Total assets	7,092.5	4,353.2	7,627.1	648.4	7,138.0	26,859.2
2020
Sales	$3,630.7	$1,926.3	$2,716.5	$364.9	$217.9	$8,856.3	(A)
Operating income (loss)	1,012.4	473.3	870.3	(40.0)	(112.2)	2,203.8	(B)
Depreciation and amortization	559.5	195.9	399.4	9.6	20.6	1,185.0
Equity affiliates' income	84.3	74.8	61.0	10.9	—	231.0	(B)
Expenditures for long-lived assets	1,264.7	327.6	690.3	35.3	191.1	2,509.0
Investments in net assets of and advances to equity affiliates	310.9	535.2	539.7	46.4	—	1,432.2
Total assets	6,610.1	3,917.0	6,842.9	397.8	7,400.7	25,168.5
2019
Sales	$3,873.5	$2,002.5	$2,663.6	$261.0	$118.3	$8,918.9	(A)
Operating income (loss)	997.7	472.4	864.2	(11.7)	(152.8)	2,169.8	(B)
Depreciation and amortization	505.2	189.5	361.5	8.6	18.0	1,082.8
Equity affiliates' income	84.8	69.0	58.4	3.2	—	215.4	(B)
Expenditures for long-lived assets	545.8	216.3	1,105.5	33.8	88.3	1,989.7

(A)The sales information noted above relates to external customers only. All intersegment sales are eliminated in consolidation. Intersegment sales are generally transacted at market pricing. We generally do not have intersegment sales from our regional industrial gases businesses. Equipment manufactured for our regional industrial gases segments are generally transferred at cost and are not reflected as an intersegment sale.

(B)Refer to the Reconciliations to Consolidated Results section below.

Reconciliations to Consolidated Results

Operating Income

The table below reconciles total operating income disclosed in the table above to consolidated operating income as reflected on our consolidated income statements:


Fiscal Year Ended 30 September	2021	2020	2019
Total	$2,267.8	$2,203.8	$2,169.8

Facility closure	(23.2)	—	(29.0)

Cost reduction actions	—	—	(25.5)



Gain on exchange with joint venture partner	36.8	—	29.1
Company headquarters relocation income (expense)	—	33.8	—

Consolidated Operating Income	$2,281.4	$2,237.6	$2,144.4

Equity Affiliates' Income

The table below reconciles total equity affiliates' income disclosed in the table above to consolidated equity affiliates' income as reflected on our consolidated income statements:


Fiscal Year Ended 30 September	2021	2020	2019
Total	$294.1	$231.0	$215.4

India Finance Act 2020	—	33.8	—

Consolidated Equity Affiliates' Income	$294.1	$264.8	$215.4

Geographic Information

Sales to External Customers


Fiscal Year Ended 30 September	2021	2020	2019
United States	$3,895.8	$3,359.6	$3,351.8



China	1,828.0	1,719.7	1,730.2


Other foreign operations	4,599.2	3,777.0	3,836.9
Total	$10,323.0	$8,856.3	$8,918.9

Long-Lived Assets(A)

30 September	2021	2020	2019
United States	$5,187.8	$4,633.9	$3,721.3



China	4,137.7	3,719.4	3,302.6


Other foreign operations	3,929.1	3,611.4	3,313.7
Total	$13,254.6	$11,964.7	$10,337.6

(A)Long-lived assets represents plant and equipment, net.

Geographic information is based on country of origin.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Subsequent Events	12 Months Ended
Subsequent Events	Sep. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS Equity Affiliate Investment in Jazan Integrated Gasification and Power Company (“JIGPC”) On 27 October 2021, we made an initial investment of $1.6 billion in Jazan Integrated Gasification and Power Company ("JIGPC"). JIGPC is a joint venture with Saudi Aramco Power Company (a subsidiary of Aramco), ACWA Power, and Air Products Qudra in the Jazan Economic City, Saudi Arabia. Our investment, which was made primarily in the form of shareholder loans, represents a 55% interest in the joint venture, of which 4% is attributable to the non-controlling partner of Air Products Qudra. Our $1.6 billion investment includes approximately $130 received from the non-controlling partner in September 2021. This cash receipt is reflected within “Investments by noncontrolling interests” on our consolidated statements of equity and cash flows for the fiscal year ended 30 September 2021. We expect to make an additional investment in JIGPC of approximately $1 billion in 2023. We determined JIGPC is a variable interest entity for which we are not the primary beneficiary. Therefore, we will account for our investment in JIGPC under the equity method within the Industrial Gases – Middle East segment, a new reporting segment in fiscal year 2022 as discussed below. JIGPC Joint Venture On 27 September 2021, JIGPC signed definitive agreements for the acquisition of $12 billion of assets from Aramco and related project financing for the purchase. JIGPC will complete the acquisition of the project assets, which include power blocks, gasifiers, air separation units, syngas cleanup assets, and utilities, in two phases. JIGPC will commission, operate, and maintain the project assets to supply electricity, steam, hydrogen and utilities to Aramco’s refinery and terminal complex under a 25-year agreement. The first phase was completed on 27 October 2021 and included $7 billion of the assets. The second phase is expected to be funded and completed in 2023. JIGPC will account for the asset transfer as a financing, recording a financing receivable upon acquisition and recognizing financing income over the supply term. Jazan Gas Project Company Jazan Gas Project Company (“JGPC”), a joint venture between Air Products and ACWA Holding, entered into a 20-year oxygen and nitrogen supply agreement in 2015 to supply Aramco’s oil refinery and power plant in Jazan, Saudi Arabia. Air Products owns 26% of the joint venture. In October 2021, the supply agreement between JGPC and Aramco was terminated, and JGPC sold its air separation units to Aramco. We initially sold these assets to JGPC and deferred revenue and profit equal to our ownership percentage in the joint venture. With the termination of the supply agreement and sale of the air separation units complete, we will recognize the remaining deferred profit in equity affiliates’ income in the first quarter of fiscal year 2022. Segment Reorganization On 4 November 2021, we announced the reorganization of our industrial gases segments. Beginning in the first quarter of fiscal year 2022, we will report our results under the following five reporting segments: •Industrial Gases – Americas; •Industrial Gases – Asia; •Industrial Gases – Europe; •Industrial Gases – Middle East; and •Corporate and other The reorganization reflects the separation of our former Industrial Gases – EMEA segment into two separate reporting segments: Industrial Gases – Europe and Industrial Gases – Middle East. The results of an affiliate formerly reflected in the Industrial Gases – Asia segment will now be reported in the Industrial Gases – Middle East segment. Additionally, the results of our Industrial Gases – Global operating segment will be reflected in the Corporate and other segment. Except for the Corporate and other segment, each reporting segment will meet the definition of an operating segment and will not include the aggregation of multiple operating segments. Our Corporate and other segment will include the aggregation of three operating segments that meet the aggregation criteria under GAAP. Beginning with our Quarterly Report on Form 10-Q for the first quarter of fiscal year 2022, segment results will be presented on a retrospective basis to reflect the reorganization.

Major Accounting Policies (Policies)

12 Months Ended

Sep. 30, 2021

Accounting Policies [Abstract]

Basis of Presentation and Consolidation Principles

Certain prior year information has been reclassified to conform to the fiscal year 2021 presentation.

Estimates and Assumptions

Revenue Recognition

We recognize revenue when or as performance obligations are satisfied, which occurs when control is transferred to the customer.

Sales returns and allowances are not a business practice in the industry.

For additional information, refer to Note 4, Revenue Recognition.

Cost of Sales

Depreciation

Selling and Administrative

Selling and AdministrativeThe principal components of selling and administrative expenses are compensation, advertising, and promotional costs.

Postemployment Benefits

Fair Value Measurements

Financial Instruments

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

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

Foreign Currency

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

Environmental Expenditures

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

Litigation

Share-Based Compensation

Income Taxes

Other Non-Operating Income (Expense), net

Cash and Cash Items

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

Short-term Investments

Short-term investments include time deposits and treasury securities with original maturities greater than three months and less than one year.

Trade Receivables, net

Credit Losses



Balance at 30 September 2018			$26.4
Provision for credit losses			7.7
Write-offs charged against the allowance			(6.8)
Currency translation and other			(2.5)
Balance at 30 September 2019			$24.8
Provision for credit losses			7.7
Write-offs charged against the allowance			(8.3)
Currency translation and other			(0.3)
Balance at 30 September 2020			$23.9
Adoption of new credit losses standard			0.5
Provision for credit losses			2.7
Write-offs charged against the allowance			(3.8)
Currency translation and other			1.8

Balance at 30 September 2021			$25.1

Inventories

We carry inventory that is comprised of finished goods, work-in-process, raw materials and supplies. Refer to Note 6, Inventories, for further detail.

Equity Investments

Equity Method Investments

Plant and Equipment, net

Computer Software

Capitalized Interest

Lessee, Leases

Leases

Impairment of Long-Lived Assets

Asset Retirement Obligations

Goodwill

Intangible Assets

Retirement Benefits

Retirement BenefitsOur retirement benefit plans are discussed in Note 15, Retirement Benefits. The cost of benefits we contribute to defined contribution plans is recognized in the year earned. The cost of benefits under our defined benefit and other post-retirement plans is generally recognized over the employees’ service period. We use actuarial methods and assumptions in the valuation of defined benefit obligations and the determination of expense. Differences between actual and expected results or changes in the value of obligations and plan assets are recognized systematically over subsequent periods

Major Accounting Policies (Tables)

12 Months Ended

Sep. 30, 2021

Accounting Policies [Abstract]

Schedule of Changes in Carrying Amount of Allowance for Doubtful Accounts

Changes to the carrying amount of the allowance for credit losses on trade receivables are summarized below:



Balance at 30 September 2018			$26.4
Provision for credit losses			7.7
Write-offs charged against the allowance			(6.8)
Currency translation and other			(2.5)
Balance at 30 September 2019			$24.8
Provision for credit losses			7.7
Write-offs charged against the allowance			(8.3)
Currency translation and other			(0.3)
Balance at 30 September 2020			$23.9
Adoption of new credit losses standard			0.5
Provision for credit losses			2.7
Write-offs charged against the allowance			(3.8)
Currency translation and other			1.8

Balance at 30 September 2021			$25.1

Revenue Recognition (Tables)

12 Months Ended

Sep. 30, 2021

Revenue Recognition [Abstract]

Disaggregation of Revenue


	Industrial Gases– Americas	Industrial Gases– EMEA	Industrial Gases– Asia	Industrial Gases– Global	Corporate and other	Total	%
2021
On-site	$2,469.5	$873.1	$1,718.8	$—	$—	$5,061.4	49	%
Merchant	1,698.1	1,571.8	1,202.0	—	—	4,471.9	43	%
Sale of Equipment	—	—	—	511.0	278.7	789.7	8	%
Total	$4,167.6	$2,444.9	$2,920.8	$511.0	$278.7	$10,323.0	100	%

2020
On-site	$2,040.2	$629.3	$1,652.8	$—	$—	$4,322.3	49	%
Merchant	1,590.5	1,297.0	1,063.7	—	—	3,951.2	45	%
Sale of Equipment	—	—	—	364.9	217.9	582.8	6	%
Total	$3,630.7	$1,926.3	$2,716.5	$364.9	$217.9	$8,856.3	100	%

2019
On-site	$2,230.6	$728.4	$1,622.6	$—	$—	$4,581.6	52	%
Merchant	1,642.9	1,274.1	1,041.0	—	—	3,958.0	44	%
Sale of Equipment	—	—	—	261.0	118.3	379.3	4	%
Total	$3,873.5	$2,002.5	$2,663.6	$261.0	$118.3	$8,918.9	100	%

Contract Assets and Liabilities

The table below details balances arising from contracts with customers:


30 September	Balance Sheet Location	2021	2020
Assets
Contract assets – current	Other receivables and current assets	$119.4	$55.9
Contract fulfillment costs – current	Other receivables and current assets	125.5	109.9
Liabilities
Contract liabilities – current	Payables and accrued liabilities	366.8	313.8
Contract liabilities – noncurrent	Other noncurrent liabilities	58.4	57.9

Inventories (Tables)

12 Months Ended

Sep. 30, 2021

Inventory Disclosure [Abstract]

Schedule of Components of Inventories

The components of inventories are as follows:


30 September	2021	2020
Finished goods	$150.7	$134.5
Work in process	24.0	21.3
Raw materials, supplies and other	279.2	249.0
Inventories	$453.9	$404.8

Summarized Financial Information of Equity Affiliates (Tables)

12 Months Ended

Sep. 30, 2021

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Equity Method Investments


Abdullah Hashim Industrial Gases & Equipment Co., Ltd. (25%);						INFRA Group (40%);
Air Products South Africa (Proprietary) Limited (50%);						INOX Air Products Private Limited (50%);
Bangkok Cogeneration Company Limited (49%);						Jazan Gas Projects Company (26%);
Bangkok Industrial Gases Co., Ltd. (49%);						Kulim Industrial Gases Sdn. Bhd. (50%);
Chengdu Air & Gas Products Ltd. (50%);						Sapio Produzione Idrogeno Ossigeno S.r.l. (49%);
Helios S.p.A. (49%);						and principally, other industrial gas producers.


30 September		2021	2020
Current assets		$2,244.6	$1,943.5
Noncurrent assets		4,630.7	4,529.2
Current liabilities		774.0	765.3
Noncurrent liabilities		2,852.5	2,958.8

Fiscal Year Ended 30 September	2021	2020	2019
Net sales	$3,338.1	$2,809.1	$2,885.6
Gross profit	1,492.9	1,212.5	1,193.4
Operating income	962.2	748.6	763.4
Net income	646.0	567.8	492.4

Plant and Equipment, Net (Tables)

12 Months Ended

Sep. 30, 2021

Property, Plant and Equipment [Abstract]

Schedule of Major Classes of Plant and Equipment

The major classes of plant and equipment are as follows:


30 September	Useful Life in years			2021	2020
Land				$312.1	$296.8
Buildings			30	1,083.1	997.8
Production facilities(A)	10	to	20	18,236.9	17,289.7



Distribution and other machinery and equipment(B)	5	to	25	5,111.6	4,807.7
Construction in progress				2,745.1	1,784.2
Plant and equipment, at cost				27,488.8	25,176.2
Less: Accumulated depreciation				14,234.2	13,211.5
Plant and equipment, net				$13,254.6	$11,964.7

(A)Depreciable lives of production facilities related to long-term customer supply contracts are generally matched to the contract lives.

Goodwill (Tables)

12 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Carrying Amount of Goodwill by Segment

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


	Industrial Gases– Americas	Industrial Gases– EMEA	Industrial Gases– Asia	Industrial Gases– Global	Corporate and other	Total
Goodwill, net at 30 September 2019	$156.3	$432.3	$178.5	$19.6	$10.4	$797.1

Acquisitions	—	66.6	—	—	4.5	71.1
Currency translation and other	(3.7)	25.2	1.9	(0.1)	—	23.3
Goodwill, net at 30 September 2020	$152.6	$524.1	$180.4	$19.5	$14.9	$891.5

Acquisitions	—	21.0	—	—	—	21.0
Currency translation and other	(1.6)	(3.6)	3.9	0.3	—	(1.0)
Goodwill, net at 30 September 2021	$151.0	$541.5	$184.3	$19.8	$14.9	$911.5


30 September	2021	2020	2019
Goodwill, gross	$1,239.2	$1,230.2	$1,162.2
Accumulated impairment losses(A)	(327.7)	(338.7)	(365.1)
Goodwill, net	$911.5	$891.5	$797.1

Intangible Assets (Tables)

12 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule Finite-Lived Intangible Assets

The table below summarizes the major classes of our intangible assets:


	2021			2020
30 September	Gross	Accumulated Amortization/ Impairment	Net	Gross	Accumulated Amortization/ Impairment	Net
Finite-lived:
Customer relationships	$552.0	($234.7)	$317.3	$538.0	($209.9)	$328.1
Patents and technology	36.8	(16.9)	19.9	39.1	(16.3)	22.8
Other	80.5	(37.3)	43.2	77.6	(33.7)	43.9
Total finite-lived intangible assets	669.3	(288.9)	380.4	654.7	(259.9)	394.8
Indefinite-lived:
Trade names and trademarks	51.2	(10.9)	40.3	52.2	(11.2)	41.0
Total Intangible Assets	$720.5	($299.8)	$420.7	$706.9	($271.1)	$435.8

Schedule of Indefinite-Lived Intangible Assets

The table below summarizes the major classes of our intangible assets:


	2021			2020
30 September	Gross	Accumulated Amortization/ Impairment	Net	Gross	Accumulated Amortization/ Impairment	Net
Finite-lived:
Customer relationships	$552.0	($234.7)	$317.3	$538.0	($209.9)	$328.1
Patents and technology	36.8	(16.9)	19.9	39.1	(16.3)	22.8
Other	80.5	(37.3)	43.2	77.6	(33.7)	43.9
Total finite-lived intangible assets	669.3	(288.9)	380.4	654.7	(259.9)	394.8
Indefinite-lived:
Trade names and trademarks	51.2	(10.9)	40.3	52.2	(11.2)	41.0
Total Intangible Assets	$720.5	($299.8)	$420.7	$706.9	($271.1)	$435.8

Schedule of Projected Annual Amortization Expense

The table below details the amount of amortization expense expected to be recorded for our finite-lived intangible assets in each of the next five years and thereafter:


2022			$34.7
2023			33.2
2024			32.1
2025			30.8
2026			29.2
Thereafter			220.4
Total			$380.4

Leases (Tables)

12 Months Ended

Sep. 30, 2021

Leases [Abstract]

Schedule of Operating Leases

Amounts associated with operating leases and their presentation on our consolidated balance sheets are as follows:


30 September	2021	2020
Operating lease right-of-use assets
Other noncurrent assets	$566.2	$376.8
Operating lease liabilities
Payables and accrued liabilities	78.6	70.7
Other noncurrent liabilities	503.4	335.8
Total operating lease liabilities	$582.0	$406.5


30 September	2021		2020
Weighted-average remaining lease term in years(A)	17.2		15.7


Weighted-average discount rate(B)	1.9	%	2.1	%

(A)Calculated on the basis of the remaining lease term and the lease liability balance for each lease as of the reporting date.

(B)Calculated on the basis of the discount rate used to calculate the lease liability for each lease and the remaining balance of the lease payments for each lease as of the reporting date.

Schedule of Maturity Analysis of Lease Liabilities


												Operating Leases
2022												$88.4
2023												71.3
2024												60.4
2025												51.1
2026												40.4
Thereafter												361.5
Total undiscounted lease payments												673.1
Imputed interest												(91.1)
Present value of lease liability recognized on balance sheet												$582.0

Schedule of Lease Receivables

As of 30 September 2021, minimum lease payments expected to be collected, which reconciles to lease receivables, net, were as follows:


2022			$146.8
2023			143.1
2024			137.0
2025			131.4
2026			120.6
Thereafter			508.7
Total			1,187.6
Unearned interest income			(362.9)
Lease Receivables, net			$824.7

Financial Instruments (Tables)

12 Months Ended

Sep. 30, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Instruments

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


	2021		2020
30 September	US$ Notional	Years Average Maturity	US$ Notional	Years Average Maturity
Forward Exchange Contracts
Cash flow hedges	$3,465.2	0.6	$2,842.1	0.5
Net investment hedges	638.0	3.0	636.6	3.8
Not designated	692.6	0.1	1,685.2	0.3
Total Forward Exchange Contracts	$4,795.8	0.8	$5,163.9	0.8

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


	2021						2020
30 September	US$ Notional	Average Pay %		Average Receive %		Years Average Maturity	US$ Notional	Average Pay %		Average Receive %		Years Average Maturity
Interest rate swaps (fair value hedge)	$200.0	LIBOR		2.76	%	0.1	$200.0	LIBOR		2.76	%	1.1
Cross currency interest rate swaps (net investment hedge)	$210.2	4.32	%	3.14	%	2.2	$201.6	4.27	%	3.12	%	3.2
Cross currency interest rate swaps (cash flow hedge)	$1,005.7	4.98	%	2.93	%	2.7	$1,057.9	4.83	%	2.98	%	2.5
Cross currency interest rate swaps (not designated)	$4.2	5.39	%	3.54	%	2.2	$12.8	5.39	%	3.54	%	3.2

Schedule of Cumulative Basis Adjustments for Fair Value Hedges

The table below provides the amounts recorded on the consolidated balance sheet related to cumulative basis adjustments for fair value hedges:


	Carrying amounts of hedged item		Cumulative hedging adjustment, included in carrying amount
30 September	2021	2020	2021	2020
Current portion of long-term debt	$400.5	$—	$0.5	$—
Long-term debt	—	405.4	—	5.7

Schedule of Fair Value and Balance Sheet Location of Derivative Instruments


30 September	Balance Sheet Location	2021	2020	Balance Sheet Location	2021	2020
Derivatives Designated as Hedging Instruments:
Forward exchange contracts	Other receivables and current assets	$35.1	$51.1	Payables and accrued liabilities	$57.2	$22.5
Interest rate management contracts	Other receivables and current assets	16.0	14.7	Payables and accrued liabilities	5.2	0.4
Forward exchange contracts	Other noncurrent assets	5.5	0.8	Other noncurrent liabilities	25.2	33.0
Interest rate management contracts	Other noncurrent assets	18.1	44.3	Other noncurrent liabilities	27.5	1.7
Total Derivatives Designated as Hedging Instruments		$74.7	$110.9		$115.1	$57.6
Derivatives Not Designated as Hedging Instruments:
Forward exchange contracts	Other receivables and current assets	$8.7	$31.7	Payables and accrued liabilities	$6.4	$28.0


Interest rate management contracts	Other noncurrent assets	—	0.7	Other noncurrent liabilities	—	—
Total Derivatives Not Designated as Hedging Instruments		$8.7	$32.4		$6.4	$28.0
Total Derivatives		$83.4	$143.3		$121.5	$85.6

Schedule of Gains and Losses Recognized in Other Comprehensive Income Related Net Investment and Cash Flow Hedges

The table below summarizes gains (losses) recognized in other comprehensive income during the period related to our net investment and cash flow hedging relationships:


	2021	2020
Net Investment Hedging Relationships
Forward exchange contracts	$11.4	($15.9)
Foreign currency debt	18.1	(100.2)
Cross currency interest rate swaps	(7.9)	1.9
Total Amount Recognized in OCI	21.6	(114.2)
Tax effects	(5.5)	28.2
Net Amount Recognized in OCI	$16.1	($86.0)

Derivatives in Cash Flow Hedging Relationships
Forward exchange contracts	$12.7	$116.6
Forward exchange contracts, excluded components	(11.7)	(15.2)
Other(A)	(6.7)	(34.2)
Total Amount Recognized in OCI	(5.7)	67.2
Tax effects	9.0	(23.7)
Net Amount Recognized in OCI	$3.3	$43.5

Schedule of Amounts Recognized in Income Related to Cash Flow and Fair Value Hedges

The table below summarizes the location and amounts recognized in income related to our cash flow and fair value hedging relationships by contract type:


	Sales		Cost of Sales		Interest Expense			Other Non-Operating Income (Expense), Net
	2021	2020	2021	2020		2021	2020		2021	2020
Total presented in consolidated income statements that includes effects of hedging below	$10,323.0	$8,856.3	$7,186.1	$5,858.1		$141.8	$109.3		$73.7	$30.7
(Gain) Loss Effects of Cash Flow Hedging:
Forward Exchange Contracts:
Amount reclassified from OCI into income	($0.8)	($0.2)	($0.8)	($1.0)		$—	$—		$5.2	($117.9)

Amount excluded from effectiveness testing recognized in earnings based on amortization approach	—	—	—	—		—	—		9.1	17.0
Other:
Amount reclassified from OCI into income	—	—	—	—		5.6	4.2		39.1	22.5

Total (Gain) Loss Reclassified from OCI to Income	(0.8)	(0.2)	(0.8)	(1.0)		5.6	4.2		53.4	(78.4)
Tax effects	0.2	—	0.5	0.2		(2.1)	(1.4)		(12.5)	18.9
Net (Gain) Loss Reclassified from OCI to Income	($0.6)	($0.2)	($0.3)	($0.8)		$3.5	$2.8		$40.9	($59.5)
(Gain) Loss Effects of Fair Value Hedging:
Other:
Hedged items	$—	$—	$—	$—		($5.2)	$0.5		$—	$—
Derivatives designated as hedging instruments	—	—	—	—		5.2	(0.5)		—	—
Total (Gain) Loss Recognized in Income	$—	$—	$—	$—		$—	$—		$—	$—

Schedule of Effects of Derivatives Not Designated as a Hedging Instrument

The table below summarizes the location and amounts recognized in income related to our derivatives not designated as hedging instruments by contract type:


	Other Income (Expense), Net		Other Non-Operating Income (Expense), Net
	2021	2020	2021	2020
The Effects of Derivatives Not Designated as Hedging Instruments:
Forward Exchange Contracts	$2.8	($1.5)	($2.7)	$1.1
Other	—	—	0.5	0.7
Total (Gain) Loss Recognized in Income	$2.8	($1.5)	($2.2)	$1.8

Fair Value Measurements (Tables)

12 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

Schedule of Carrying Values and Fair Values of Financial Instruments

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


	2021		2020
30 September	Carrying Value	Fair Value	Carrying Value	Fair Value
Assets
Derivatives
Forward exchange contracts	$49.3	$49.3	$83.6	$83.6
Interest rate management contracts	34.1	34.1	59.7	59.7
Liabilities
Derivatives
Forward exchange contracts	$88.8	$88.8	$83.5	$83.5
Interest rate management contracts	32.7	32.7	2.1	2.1
Long-term debt, including current portion and related party	7,634.8	7,812.2	7,900.1	8,278.4

Schedule of Fair Value of 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:


	2021				2020
30 September	Total	Level 1	Level 2	Level 3	Total	Level 1	Level 2	Level 3
Assets at Fair Value



Derivatives
Forward exchange contracts	$49.3	$—	$49.3	$—	$83.6	$—	$83.6	$—
Interest rate management contracts	34.1	—	34.1	—	59.7	—	59.7	—
Total Assets at Fair Value	$83.4	$—	$83.4	$—	$143.3	$—	$143.3	$—
Liabilities at Fair Value
Derivatives
Forward exchange contracts	$88.8	$—	$88.8	$—	$83.5	$—	$83.5	$—
Interest rate management contracts	32.7	—	32.7	—	2.1	—	2.1	—
Total Liabilities at Fair Value	$121.5	$—	$121.5	$—	$85.6	$—	$85.6	$—

Debt (Tables)

12 Months Ended

Sep. 30, 2021

Debt Disclosure [Abstract]

Schedule of Total Debt

The table below summarizes our total outstanding debt as reflected on our consolidated balance sheets:


30 September	2021	2020
Short-term borrowings(A)	$2.4	$7.7
Current portion of long-term debt(B)	484.5	470.0
Long-term debt	6,875.7	7,132.9
Long-term debt – related party	274.6	297.2
Total Debt	$7,637.2	$7,907.8

(A)Includes bank obligations with weighted average interest rates of 0.6% and 1.6% as of 30 September 2021 and 2020, respectively.

(B)Includes current portion of long-term debt owed to a related party of $83.8 and $41.3 as of 30 September 2021 and 2020, respectively.

Schedule of Long-term Debt Instruments

The table below summarizes the coupon interest rates, fiscal year maturities, and carrying amounts of our long-term debt, including current portion and amounts owed to related parties:


30 September	Maturities	2021	2020
Payable in U.S. Dollars
Debentures
8.75%	2021	$—	$18.4
Medium-term Notes (weighted average rate)
Series E 7.6%	2026	17.2	17.2
Senior Notes
Note 3.0%	2022	400.0	400.0
Note 2.75%	2023	400.0	400.0
Note 3.35%	2024	400.0	400.0
Note 1.50%	2026	550.0	550.0
Note 1.85%	2027	650.0	650.0
Note 2.05%	2030	900.0	900.0
Note 2.70%	2040	750.0	750.0
Note 2.80%	2050	950.0	950.0
Other (weighted average rate)
Variable-rate industrial revenue bonds 0.02%	2035 to 2050	618.9	631.9
Other 1.57%	2024 to 2032	14.4	—
Payable in Other Currencies
Eurobonds 0.375%	2021	—	410.3
Eurobonds 1.0%	2025	347.4	351.7
Eurobonds 0.50%	2028	579.1	586.2
Eurobonds 0.80%	2032	579.1	586.2
New Taiwan Dollar 1.86%	2023 to 2028	161.8	—
Other	2023	0.3	0.6
Related Party
Chinese Renminbi 5.5%	2022 to 2027	355.0	338.5
Chinese Renminbi 5.7%	2033	3.4	—
Capital Lease Obligations (weighted average rate)

Foreign 11.6%	2022 to 2036	8.1	9.2
Total Principal Amount		7,684.7	7,950.2
Less: Unamortized discount and debt issuance costs		(50.4)	(55.8)
Less: Fair value hedge accounting adjustments(A)		0.5	5.7
Total Long-term Debt		7,634.8	7,900.1
Less: Current portion of long-term debt		(484.5)	(470.0)
Less: Long-term debt – related party		(274.6)	(297.2)
Long-term Debt		$6,875.7	$7,132.9

Schedule of Maturities of Long-term Debt

Principal maturities of long-term debt, including current portion and amounts owed to related parties, in each of the next five years and thereafter are as follows:


2022			$484.0
2023			475.8
2024			492.5
2025			449.2
2026			662.7
Thereafter			5,120.5
Total			$7,684.7

- Definition

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

+ References

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-Publisher FASB
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399

Reference 7: http://www.xbrl.org/2003/role/exampleRef
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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-Topic 505
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-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21538-112644

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21475-112644

+ Details

Retirement Benefits (Tables) - Defined Benefit Pension Plan

12 Months Ended

Sep. 30, 2021

Schedule of Net Periodic Benefit Cost

The components of net periodic (benefit) cost for our defined benefit pension plans for fiscal years 2021, 2020, and 2019 were as follows:


	2021		2020		2019
Fiscal Year Ended 30 September	U.S.	International	U.S.	International	U.S.	International
Service cost	$21.3	$23.4	$23.4	$23.3	$21.4	$19.3
Interest cost	68.9	25.2	91.2	24.8	113.4	35.8
Expected return on plan assets	(194.5)	(83.4)	(188.7)	(77.4)	(172.5)	(75.1)
Prior service cost amortization	1.2	—	1.2	—	1.1	—
Actuarial loss amortization	78.5	19.3	83.7	19.5	65.3	10.9
Settlements	1.3	0.5	5.0	0.2	6.2	0.2

Special termination benefits	—	—	—	—	0.7	0.1
Other	—	1.0	—	0.8	—	0.8
Net Periodic (Benefit) Cost	($23.3)	($14.0)	$15.8	($8.8)	$35.6	($8.0)

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

The following table sets forth the weighted average assumptions used in the calculation of net periodic benefit cost:


	2021				2020				2019
	U.S.		International		U.S.		International		U.S.		International

Discount rate – Service cost	3.0	%	1.6	%	3.3	%	1.5	%	4.3	%	2.5	%
Discount rate – Interest cost	2.1	%	1.2	%	2.9	%	1.3	%	4.0	%	2.2	%
Expected return on plan assets	6.8	%	4.7	%	7.0	%	5.0	%	7.0	%	5.3	%
Rate of compensation increase	3.5	%	3.3	%	3.5	%	3.3	%	3.5	%	3.5	%


	2021				2020
	U.S.		International		U.S.		International
Discount rate	2.9	%	1.8	%	2.7	%	1.5	%
Rate of compensation increase	3.5	%	3.3	%	3.5	%	3.3	%

Schedule of Changes in Projected Benefit Obligations


	2021		2020
	U.S.	International	U.S.	International
Change in Projected Benefit Obligation
Obligation at beginning of year	$3,423.8	$1,949.7	$3,281.6	$1,864.0
Service cost	21.3	23.4	23.4	23.3
Interest cost	68.9	25.2	91.2	24.8
Amendments	0.5	—	1.6	—
Actuarial (gain) loss	(17.7)	(30.9)	190.5	(11.6)


Settlements	(3.0)	(1.8)	(11.7)	(0.9)
Special termination benefits	—	—	—	—
Participant contributions	—	1.3	—	1.2
Benefits paid	(158.5)	(52.8)	(152.5)	(49.8)
Currency translation and other	—	55.5	(0.3)	98.7
Obligation at End of Year	$3,335.3	$1,969.6	$3,423.8	$1,949.7

Schedule of Changes in Fair Value of Plan Assets


	2021		2020
	U.S.	International	U.S.	International
Change in Plan Assets
Fair value at beginning of year	$3,048.3	$1,726.8	$2,832.4	$1,672.4
Actual return on plan assets	450.0	140.1	364.6	(3.1)
Company contributions	6.9	37.7	15.5	22.0
Participant contributions	—	1.3	—	1.2

Benefits paid	(158.5)	(52.8)	(152.5)	(49.8)
Settlements	(3.0)	(1.8)	(11.7)	(0.9)
Currency translation and other	—	53.7	—	85.0
Fair Value at End of Year	$3,343.7	$1,905.0	$3,048.3	$1,726.8
Funded Status at End of Year	$8.4	($64.6)	($375.5)	($222.9)

Schedule of Amounts Recognized in Balance Sheet


	2021		2020
	U.S.	International	U.S.	International
Amounts Recognized
Noncurrent assets	$90.5	$128.7	$26.5	$—
Accrued liabilities	19.6	0.5	10.5	0.2
Noncurrent liabilities	62.5	192.8	391.5	222.7
Net Asset (Liability) Recognized	$8.4	($64.6)	($375.5)	($222.9)

Schedule of Amounts Recognized in Other Comprehensive Income (Loss)

The changes in plan assets and benefit obligation that have been recognized in other comprehensive income on a pretax basis during fiscal years 2021 and 2020 consist of the following:


	2021		2020
	U.S.	International	U.S.	International
Net actuarial (gain)/loss arising during the period	($273.2)	($87.6)	$14.6	$68.9
Amortization of net actuarial loss	(79.8)	(19.8)	(88.7)	(19.7)
Prior service cost arising during the period	0.5	—	1.6	—
Amortization of prior service cost	(1.2)	—	(1.2)	—



Total	($353.7)	($107.4)	($73.7)	$49.2

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

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


	2021		2020
	U.S.	International	U.S.	International
Net actuarial loss	$444.7	$535.8	$797.7	$643.2
Prior service cost	6.3	3.6	7.0	3.6
Net transition liability	—	0.4	—	0.4



Total	$451.0	$539.8	$804.7	$647.2

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

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


	2021		2020
30 September	U.S.	International	U.S.	International
Pension Plans with PBO in Excess of Plan Assets:
PBO	$82.1	$456.6	$3,202.2	$1,949.7
Fair value of plan assets	—	263.4	2,800.3	1,726.7
PBO in excess of plan assets	$82.1	$193.2	$401.9	$223.0
Pension Plans with ABO in Excess of Plan Assets:
ABO	$79.2	$416.8	$3,081.4	$475.8
Fair value of plan assets	—	263.4	2,800.3	324.4
ABO in excess of plan assets	$79.2	$153.4	$281.1	$151.4

Schedule of Target and Actual Asset Allocations by Category

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


	2021 Target Allocation				2021 Actual Allocation				2020 Actual Allocation
	U.S.		International		U.S.		International		U.S.		International
Asset Category
Equity securities	20 - 35%		29 - 38%		30	%	36	%	51	%	43	%
Debt securities	61 - 76%		62 - 71%		64	%	63	%	43	%	56	%
Real estate and other	— - 10%		—	%	6	%	—	%	5	%	—	%
Cash	—	%	2	%	—	%	1	%	1	%	1	%
Total					100	%	100	%	100	%	100	%

Schedule of Allocation of Plan Assets

The table below summarizes pension plan assets measured at fair value by asset class (see Note 13, Fair Value Measurements, for definition of the levels):


	2021				2020
30 September	Total	Level 1	Level 2	Level 3	Total	Level 1	Level 2	Level 3
U.S. Qualified Pension Plans
Cash and cash equivalents	$14.8	$14.8	$—	$—	$16.9	$16.9	$—	$—
Equity securities	325.3	325.3	—	—	573.9	573.9	—	—
Equity mutual funds	243.4	243.4	—	—	213.1	213.1	—	—
Equity pooled funds	448.7	—	448.7	—	762.0	—	762.0	—
Fixed income:
Bonds (government and corporate)	2,125.6	—	2,125.6	—	1,312.7	—	1,312.7	—
Total U.S. Qualified Pension Plans at Fair Value	$3,157.8	$583.5	$2,574.3	$—	$2,878.6	$803.9	$2,074.7	$—
Real estate pooled funds(A)	185.9				169.7
Total U.S. Qualified Pension Plans	$3,343.7				$3,048.3
International Pension Plans
Cash and cash equivalents	$16.8	$16.8	$—	$—	$13.9	$13.9	$—	$—
Equity pooled funds	676.4	—	676.4	—	746.8	—	746.8	—
Fixed income pooled funds	948.5	—	948.5	—	694.1	—	694.1	—
Other pooled funds	16.7	—	16.7	—	15.5	—	15.5	—
Insurance contracts	246.6	—	—	246.6	256.5	—	—	256.5
Total International Pension Plans	$1,905.0	$16.8	$1,641.6	$246.6	$1,726.8	$13.9	$1,456.4	$256.5

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

The table below summarizes changes in fair value of the pension plan assets classified as Level 3, which is comprised of investments in insurance contracts:


Balance at 30 September 2019																								$254.1
Actual return on plan assets:
Assets held at end of year																								2.4


Balance at 30 September 2020																								$256.5
Actual return on plan assets:
Assets held at end of year																								(7.9)

Purchases, sales, and settlements, net																								(2.0)
Balance at 30 September 2021																								$246.6

Schedule of Expected Benefit Payments

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


	U.S.	International
2022	$179.3	$56.8
2023	170.4	60.2
2024	174.3	64.0
2025	178.1	64.6
2026	180.7	68.3
2027-2031	936.5	375.9

Commitments and Contingencies (Tables)

12 Months Ended

Sep. 30, 2021

Commitments and Contingencies Disclosure [Abstract]

Schedule of Change in Asset Retirement Obligation

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


Balance at 30 September 2019			$208.2
Additional accruals			22.0
Liabilities settled			(2.8)
Accretion expense			9.5
Currency translation adjustment			4.5
Balance at 30 September 2020			$241.4
Additional accruals			16.5
Liabilities settled			(4.1)
Accretion expense			10.5
Currency translation adjustment			5.3
Balance at 30 September 2021			$269.6

Schedule of Unconditional Purchase Obligations Disclosure

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


2022			$1,656
2023			540
2024			543
2025			563
2026			545
Thereafter			6,135
Total			$9,982

Capital Stock (Tables)

12 Months Ended

Sep. 30, 2021

Equity [Abstract]

Schedule of Common Stock Outstanding

A summary of the changes in common shares in fiscal year 2021 is presented below:


Fiscal Year Ended 30 September	2021	2020	2019
Number of common shares outstanding, beginning of year	221,017,459	220,415,262	219,515,245
Issuance of treasury shares for stock option and award plans	379,296	602,197	900,017
Number of common shares outstanding, end of year	221,396,755	221,017,459	220,415,262

Share-Based Compensation (Tables)

12 Months Ended

Sep. 30, 2021

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:


	2021	2020	2019
Before-tax share-based compensation cost	$44.5	$55.8	$41.2


Income tax benefit	(11.0)	(13.0)	(9.7)
After-tax share-based compensation cost	$33.5	$42.8	$31.5

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

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


	2021		2020		2019
Expected volatility	29.9	%	17.8	%	17.5	%
Risk-free interest rate	0.2	%	1.6	%	2.8	%
Expected dividend yield	2.1	%	2.4	%	2.6	%

Schedule of Deferred Stock Units and Restricted Stock Activity

A summary of deferred stock unit activity in fiscal year 2021 is presented below:


	Shares (000)	Weighted Average Grant-Date Fair Value
Deferred stock units outstanding at 30 September 2020	926	$181.14


Granted	188	261.95
Paid out	(330)	185.33
Forfeited	(17)	241.55
Adjusted	87	161.64
Deferred stock units outstanding at 30 September 2021	854	$194.12

Schedule of Stock Option Activity

A summary of stock option activity in fiscal year 2021 is presented below:


	Shares (000)	Weighted Average Exercise Price
Stock options outstanding and exercisable at 30 September 2020	941	$96.95



Exercised	(140)	80.63

Stock options outstanding and exercisable at 30 September 2021	801	$99.79

Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Sep. 30, 2021

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

Schedule of Accumulated Other Comprehensive Income (Loss)

The table below summarizes changes in accumulated other comprehensive loss ("AOCL"), net of tax, attributable to Air Products:


	Derivatives qualifying as hedges	Foreign currency translation adjustments	Pension and postretirement benefits	Total
Balance at 30 September 2018	($37.6)	($1,009.8)	($694.5)	($1,741.9)
Other comprehensive loss before reclassifications	(44.1)	(356.2)	(326.2)	(726.5)
Amounts reclassified from AOCL	12.3	(2.6)	63.2	72.9
Net current period other comprehensive loss	($31.8)	($358.8)	($263.0)	($653.6)
Amount attributable to noncontrolling interests	(8.0)	(11.7)	(0.2)	(19.9)
Balance at 30 September 2019	($61.4)	($1,356.9)	($957.3)	($2,375.6)
Other comprehensive income (loss) before reclassifications	43.5	233.4	(68.2)	208.7
Amounts reclassified from AOCL	(57.7)	—	82.5	24.8
Net current period other comprehensive income (loss)	($14.2)	$233.4	$14.3	$233.5
Amount attributable to noncontrolling interest	(21.1)	19.3	(0.2)	(2.0)
Balance at 30 September 2020	($54.5)	($1,142.8)	($942.8)	($2,140.1)
Other comprehensive income before reclassifications	3.3	267.3	274.3	544.9
Amounts reclassified from AOCL	43.5	—	74.6	118.1
Net current period other comprehensive income	$46.8	$267.3	$348.9	$663.0

Amount attributable to noncontrolling interest	20.6	18.3	(0.1)	38.8
Balance at 30 September 2021	($28.3)	($893.8)	($593.8)	($1,515.9)

Schedule of Reclassifications out of Accumulated Other Comprehensive Loss

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


Fiscal Year Ended 30 September	2021	2020	2019
(Gain) Loss on Cash Flow Hedges, net of tax
Sales	($0.6)	($0.2)	$0.4
Cost of sales	(0.3)	(0.8)	0.2
Other income (expense), net	—	—	(3.0)
Interest expense	3.5	2.8	14.7
Other non-operating income (expense), net(A)	40.9	(59.5)	—
Total (Gain) Loss on Cash Flow Hedges, net of tax	$43.5	($57.7)	$12.3






Currency Translation Adjustment(B)	$—	$—	($2.6)

Pension and Postretirement Benefits, net of tax(C)	$74.6	$82.5	$63.2

(A)The fiscal years 2021 and 2020 impacts include amortization of the excluded component and the effective portion of the related hedges.

(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 3, Acquisitions, for additional information.

Earnings Per Share (Tables)

12 Months Ended

Sep. 30, 2021

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Earnings Per Share

The table below details the computation of basic and diluted earnings per share ("EPS"):


Fiscal Year Ended 30 September	2021	2020	2019
Numerator
Net income from continuing operations	$2,028.8	$1,901.0	$1,760.0
Net income (loss) from discontinued operations	70.3	(14.3)	—
Net Income Attributable to Air Products	$2,099.1	$1,886.7	$1,760.0

Denominator (in millions)
Weighted average common shares — Basic	221.6	221.2	220.3
Effect of dilutive securities
Employee stock option and other award plans	0.9	1.1	1.3
Weighted average common shares — Diluted	222.5	222.3	221.6

Per Share Data*
Basic EPS from continuing operations	$9.16	$8.59	$7.99
Basic EPS from discontinued operations	0.32	(0.06)	—
Basic EPS Attributable to Air Products	$9.47	$8.53	$7.99
Diluted EPS from continuing operations	$9.12	$8.55	$7.94
Diluted EPS from discontinued operations	0.32	(0.06)	—
Diluted EPS Attributable to Air Products	$9.43	$8.49	$7.94

*EPS is calculated independently for each component and may not sum to total EPS due to rounding.

Income Taxes (Tables)

12 Months Ended

Sep. 30, 2021

Income Tax Disclosure [Abstract]

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

The table below summarizes income from U.S. and foreign operations before taxes:


	2021	2020	2019

United States income	$924.6	$943.7	$723.3
Foreign income	1,288.7	1,215.3	1,350.8
Equity affiliates' income	294.1	264.8	215.4
Income from continuing operations before taxes	$2,507.4	$2,423.8	$2,289.5

Schedule of Components of Income Tax Expense (Benefit)

The table below details the components of our income tax provision:


	2021	2020	2019
Current Tax Provision
Federal	$85.6	$26.9	$163.7
State	28.4	23.8	23.3
Foreign	254.8	262.7	235.5
Total current tax provision	368.8	313.4	422.5
Deferred Tax Provision
Federal	54.7	108.8	9.7
State	(0.1)	(3.6)	2.4
Foreign	39.4	59.8	45.5
Total deferred tax provision	94.0	165.0	57.6
Total income tax provision	$462.8	$478.4	$480.1

Schedule of Effective Income Tax Rate Reconciliation

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


(Percent of income before taxes)	2021		2020		2019
U.S. federal statutory tax rate	21.0	%	21.0	%	21.0	%
State taxes, net of federal benefit	0.9		0.6		1.0
Income from equity affiliates	(2.5)		(2.3)		(2.0)
Foreign tax differentials	0.5		0.1		1.0
Tax on foreign repatriated earnings	0.7		0.9		0.1
Share-based compensation	(0.7)		(0.8)		(0.6)
Tax reform repatriation	—		—		1.9






Other	(1.4)		0.2		(1.4)
Effective Tax Rate	18.5	%	19.7	%	21.0	%

Schedule of Components of Deferred Tax Assets and Liabilities

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


30 September	2021	2020
Gross Deferred Tax Assets
Retirement benefits and compensation accruals	$69.4	$209.0
Tax loss carryforwards	120.9	112.6
Tax credits and other tax carryforwards	27.3	40.3
Reserves and accruals	74.5	67.0

Currency losses	30.4	30.4
Other	44.0	64.6
Valuation allowance	(97.6)	(95.0)
Deferred Tax Assets	268.9	428.9
Gross Deferred Tax Liabilities
Plant and equipment	1,171.8	1,110.9


Unremitted earnings of foreign entities	69.1	58.7
Partnership and other investments	15.3	19.3
Intangible assets	86.2	83.6
Other	7.2	3.9
Deferred Tax Liabilities	1,349.6	1,276.4
Net Deferred Income Tax Liability	$1,080.7	$847.5

Deferred tax assets and liabilities are included within the consolidated balance sheets as follows:


	2021	2020
Deferred Tax Assets
Other noncurrent assets	$100.2	$115.1
Deferred Tax Liabilities
Deferred income taxes	1,180.9	962.6
Net Deferred Income Tax Liability	$1,080.7	$847.5

Schedule of Deferred Tax Assets for Certain Tax Credits

As of 30 September 2021, we had the following deferred tax assets for certain tax credits:


Jurisdiction	Gross Tax Asset	Expiration Period
U.S. State	$2.2	2022 - 2035
U.S. Federal	2.1	2027 - 2031
Foreign	27.5	2022 - 2041; Indefinite

Summary of Tax Credit Carryforwards

As of 30 September 2021, we had the following loss carryforwards:


Jurisdiction	Gross Loss Carryforward	Expiration Period
U.S. State Net Operating Loss	$318.8	2022 - 2040
U.S. Federal Capital Loss	26.5	2025
Foreign Net Operating Loss	258.8	2022 - 2036; Indefinite
Foreign Capital Loss	221.6	Indefinite

Schedule of Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of the unrecognized tax benefits, which excludes interest and penalties, is as follows:


	2021	2020	2019
Unrecognized tax benefits balance at beginning of year	$237.0	$231.7	$233.6
Additions for tax positions of the current year	14.5	7.6	7.8
Additions for tax positions of prior years	3.5	17.7	14.2
Reductions for tax positions of prior years	(8.2)	(4.1)	(14.7)
Settlements	(3.1)	(1.2)	(1.5)
Statute of limitations expiration	(104.6)	(14.0)	(3.9)
Foreign currency translation	1.2	(0.7)	(3.8)
Unrecognized tax benefits balance at end of year	$140.3	$237.0	$231.7

Schedule of Income Tax Examinations

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


Major Tax Jurisdiction			Open Tax Years
North America
United States – Federal			2018 - 2021
United States – State			2012 - 2021
Canada			2015 - 2021
Europe
France			2018 - 2021
Germany			2017 - 2021
Netherlands			2016 - 2021
Spain			2015 - 2021
United Kingdom			2018 - 2021
Asia
China			2011 - 2021
South Korea			2010 - 2021
Taiwan			2016 - 2021
Latin America
Chile			2018 - 2021

Supplemental Information (Tables)

12 Months Ended

Sep. 30, 2021

Disclosure Text Block Supplement [Abstract]

Schedule of Other Receivables and Current Assets


Other Receivables and Current Assets

30 September	2021	2020
Contract assets	$119.4	$55.9
Contract fulfillment costs	125.5	109.9
Derivative instruments	59.8	97.5

Current lease receivables	84.4	86.7
Other	161.8	132.9
Other receivables and current assets	$550.9	$482.9

Schedule of Other Noncurrent Assets


Other Noncurrent Assets

30 September	2021	2020
Operating lease right-of-use assets	$566.2	$376.8
Pension benefits	219.2	26.5
Long-term deposits on plant and equipment	200.0	100.0
Deferred tax assets	100.2	115.1
Prepaid tax	75.0	19.3
Investments other than equity method	66.9	17.0
Derivative instruments	23.6	45.8


Other	255.4	242.6
Other noncurrent assets	$1,506.5	$943.1

Schedule of Payables and Accrued Liabilities


Payables and Accrued Liabilities

30 September	2021	2020
Trade creditors	$736.8	$546.2

Contract liabilities	366.8	313.8
Dividends payable	332.1	296.2
Accrued payroll and employee benefits	221.2	196.8
Obligation for future contribution to an equity affiliate	150.0	94.4
Current lease obligations	78.6	70.7
Derivative instruments	68.8	50.9
Pension and postretirement benefits	25.6	17.9



Other	238.4	246.3
Payables and accrued liabilities	$2,218.3	$1,833.2

Schedule of Other Noncurrent Liabilities


Other Noncurrent Liabilities

30 September	2021	2020
Operating lease liabilities	$503.4	$335.8
Asset retirement obligations	258.0	236.2
Pension benefits	255.3	614.2
Postretirement benefits	22.1	31.4

Long-term accrued income taxes related to U.S. tax reform	157.1	190.9
Contingencies related to uncertain tax positions	111.8	138.6
Environmental liabilities	68.5	73.6
Contract liabilities	58.4	57.9
Derivative instruments	52.7	34.7



Other	153.6	202.7
Other noncurrent liabilities	$1,640.9	$1,916.0

Business Segment and Geographic Information (Tables)

12 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Schedule of Segment Reporting Information by Segment

Business Segment Information


	Industrial Gases– Americas	Industrial Gases– EMEA	Industrial Gases– Asia	Industrial Gases– Global	Corporate and other	Total
2021
Sales	$4,167.6	$2,444.9	$2,920.8	$511.0	$278.7	$10,323.0	(A)
Operating income (loss)	1,065.5	557.4	838.3	(60.6)	(132.8)	2,267.8	(B)
Depreciation and amortization	611.9	229.8	444.4	10.9	24.3	1,321.3
Equity affiliates' income	112.5	93.7	81.4	6.5	—	294.1	(B)
Expenditures for long-lived assets	909.6	371.3	792.3	112.6	278.4	2,464.2
Investments in net assets of and advances to equity affiliates	383.8	587.4	608.1	70.0	—	1,649.3
Total assets	7,092.5	4,353.2	7,627.1	648.4	7,138.0	26,859.2
2020
Sales	$3,630.7	$1,926.3	$2,716.5	$364.9	$217.9	$8,856.3	(A)
Operating income (loss)	1,012.4	473.3	870.3	(40.0)	(112.2)	2,203.8	(B)
Depreciation and amortization	559.5	195.9	399.4	9.6	20.6	1,185.0
Equity affiliates' income	84.3	74.8	61.0	10.9	—	231.0	(B)
Expenditures for long-lived assets	1,264.7	327.6	690.3	35.3	191.1	2,509.0
Investments in net assets of and advances to equity affiliates	310.9	535.2	539.7	46.4	—	1,432.2
Total assets	6,610.1	3,917.0	6,842.9	397.8	7,400.7	25,168.5
2019
Sales	$3,873.5	$2,002.5	$2,663.6	$261.0	$118.3	$8,918.9	(A)
Operating income (loss)	997.7	472.4	864.2	(11.7)	(152.8)	2,169.8	(B)
Depreciation and amortization	505.2	189.5	361.5	8.6	18.0	1,082.8
Equity affiliates' income	84.8	69.0	58.4	3.2	—	215.4	(B)
Expenditures for long-lived assets	545.8	216.3	1,105.5	33.8	88.3	1,989.7

(B)Refer to the Reconciliations to Consolidated Results section below.

Reconciliation of Segments to Consolidated Operating Income

The table below reconciles total operating income disclosed in the table above to consolidated operating income as reflected on our consolidated income statements:


Fiscal Year Ended 30 September	2021	2020	2019
Total	$2,267.8	$2,203.8	$2,169.8

Facility closure	(23.2)	—	(29.0)

Cost reduction actions	—	—	(25.5)



Gain on exchange with joint venture partner	36.8	—	29.1
Company headquarters relocation income (expense)	—	33.8	—

Consolidated Operating Income	$2,281.4	$2,237.6	$2,144.4

Reconciliation of Segments to Consolidated Equity Affiliates' Income

The table below reconciles total equity affiliates' income disclosed in the table above to consolidated equity affiliates' income as reflected on our consolidated income statements:


Fiscal Year Ended 30 September	2021	2020	2019
Total	$294.1	$231.0	$215.4

India Finance Act 2020	—	33.8	—

Consolidated Equity Affiliates' Income	$294.1	$264.8	$215.4

Schedule of Revenue and Long-Lived Assets by Geographical Areas

Geographic Information

Sales to External Customers


Fiscal Year Ended 30 September	2021	2020	2019
United States	$3,895.8	$3,359.6	$3,351.8



China	1,828.0	1,719.7	1,730.2


Other foreign operations	4,599.2	3,777.0	3,836.9
Total	$10,323.0	$8,856.3	$8,918.9

Long-Lived Assets(A)

30 September	2021	2020	2019
United States	$5,187.8	$4,633.9	$3,721.3



China	4,137.7	3,719.4	3,302.6


Other foreign operations	3,929.1	3,611.4	3,313.7
Total	$13,254.6	$11,964.7	$10,337.6

(A)Long-lived assets represents plant and equipment, net.

Major Accounting Policies (Narrative) (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Accounting Policies [Abstract]
Assets of discontinued operations		$ 0	$ 0
Liabilities of discontinued operations		0	0
Environmental expenditures		18,600,000	18,300,000	$ 14,200,000
Pre-tax loss from discontinued operations	$ 19,000,000.0		19,000,000.0
Capitalized interest		28,300,000	15,900,000	13,500,000
Asset retirement obligations		269,600,000	241,400,000	208,200,000
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, residual value		0
Other Non-Operating Income (Expense), Net
Finite-Lived Intangible Assets [Line Items]
Excluded components recognized within earnings		31,000,000.0	33,500,000
Excluded components recognized within earnings		$ 31,000,000.0	$ 33,500,000
Interest Expense
Finite-Lived Intangible Assets [Line Items]
Excluded components recognized within earnings				33,300,000
Excluded components recognized within earnings				$ 33,300,000
Computer software costs \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life		3 years
Computer software costs \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life		5 years
Customer relationships \| Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, useful life		5 years
Customer relationships \| Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, useful life		25 years
Patents and technology \| Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, useful life		5 years
Patents and technology \| Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, useful life		15 years
Land Use Rights
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, useful life		50 years

Major Accounting Policies - Allowance for Doubtful Accounts (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Allowance for Credit Losses
Beginning balance	$ 23.9	$ 24.8	$ 26.4
Adoption of new credit losses standard	0.5
Provision for credit losses	2.7	7.7	7.7
Write-offs charged against the allowance	(3.8)	(8.3)	(6.8)
Currency translation and other	1.8	(0.3)	(2.5)
Ending balance	$ 25.1	$ 23.9	$ 24.8

New Accounting Guidance (Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Equity	$ 14,088.0	$ 12,443.1	$ 11,388.3	$ 11,176.3
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Equity	15,678.3	$ 14,875.7	$ 14,138.4	13,409.9
Cumulative-effect adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Equity				(17.1)
Cumulative-effect adjustment \| Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Equity	$ 1.3			$ (17.1)

- Definition

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

+ References

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+ Details

Acquisitions (Narrative) (Details) $ in Millions				12 Months Ended
Acquisitions (Narrative) (Details) $ in Millions	Feb. 23, 2021 USD ($) business_entity	Apr. 17, 2020 USD ($) production_facility	May 01, 2019 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2020 USD ($) acquisition	Sep. 30, 2019 USD ($) acquisition	Sep. 30, 2018
Business Acquisition [Line Items]
Proceeds from sale of assets and investments				$ 37.5	$ 80.3	$ 11.1
Gain on exchange with joint venture partner			$ 29.1	36.8	0.0	$ 29.1
Gain on exchange with joint venture partner, after tax				27.3
Business combinations, goodwill acquired during period				$ 21.0	$ 71.1
Production Plants
Business Acquisition [Line Items]
Number of hydrogen production plants acquired \| production_facility		5
Acquisition of hydrogen production plants		$ 580.0
TIG - Portion of Business Acquired
Business Acquisition [Line Items]
Ownership interest subsequent to acquisition date (percent)	100.00%
Proceeds from sale of assets and investments	$ 10.8
Gain from revaluation of previously held equity interest to acquisition date fair value	12.7
Acquisition date fair value of previously held equity interest	15.4
Business combinations, goodwill acquired during period	14.5
Business combinations, plant and equipment acquired during the period	10.3
TIG - Portion of Business Acquired \| Customer relationships
Business Acquisition [Line Items]
Business combinations, recognized intangible assets	$ 16.7
Weighted-average useful life of acquired intangible assets (in years)	15 years
Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Number of business combinations completed in period \| acquisition					3	3
Business combinations, aggregate purchase price, net of cash acquired					$ 185.4	$ 126.6
WuXi Hi-Tech Gas Co., Ltd.
Business Acquisition [Line Items]
Interest acquired in exchange transaction (percent)			50.00%
Gain from revaluation of previously held equity interest to acquisition date fair value			$ 15.0
Acquisition date fair value of previously held equity interest			$ 27.0
Tyczka Industrie-Gases GmbH
Business Acquisition [Line Items]
Ownership interest (percent) in former equity method investment					50.00%
Number of businesses after separation \| business_entity	2
Gain from disposition of interest in equity method investment	$ 24.1
High-Tech Gases (Beijing) Co., Ltd.
Business Acquisition [Line Items]
Ownership interest (percent) in former equity method investment							50.00%
Decrease in ownership interest in exchange transaction (percent)			50.00%
Gain from disposition of interest in equity method investment			$ 14.1
WuXi Hi-Tech Gas Co., Ltd.
Business Acquisition [Line Items]
Ownership interest (percent) in former equity method investment							50.00%

Revenue Recognition (Nature of Goods and Services) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Change in Accounting Estimate [Line Items]
Operating income (loss)	$ 2,281.4	$ 2,237.6	$ 2,144.4
On-site gases, large volume \| Minimum
Change in Accounting Estimate [Line Items]
Sales contract term	15 years
On-site gases, large volume \| Maximum
Change in Accounting Estimate [Line Items]
Sales contract term	20 years
On-site gases, small quantity \| Minimum
Change in Accounting Estimate [Line Items]
Sales contract term	10 years
On-site gases, small quantity \| Maximum
Change in Accounting Estimate [Line Items]
Sales contract term	15 years
Merchant gases \| Maximum
Change in Accounting Estimate [Line Items]
Sales contract term	5 years
Contracts accounted for under percentage of completion
Change in Accounting Estimate [Line Items]
Operating income (loss)	$ (19.0)	$ 7.0	$ 37.0

Revenue Recognition (Disaggregation of Revenue) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Sales	$ 10,323.0	$ 8,856.3	$ 8,918.9
Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 10,323.0	$ 8,856.3	$ 8,918.9
Percent sales by supply mode	100.00%	100.00%	100.00%
Industrial Gases - Americas \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 4,167.6	$ 3,630.7	$ 3,873.5
Industrial Gases - EMEA \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	2,444.9	1,926.3	2,002.5
Industrial Gases - Asia \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	2,920.8	2,716.5	2,663.6
Industrial Gases - Global \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	511.0	364.9	261.0
Corporate and other \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	278.7	217.9	118.3
On-site \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 5,061.4	$ 4,322.3	$ 4,581.6
Percent sales by supply mode	49.00%	49.00%	52.00%
On-site \| Industrial Gases - Americas \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 2,469.5	$ 2,040.2	$ 2,230.6
On-site \| Industrial Gases - EMEA \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	873.1	629.3	728.4
On-site \| Industrial Gases - Asia \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	1,718.8	1,652.8	1,622.6
On-site \| Industrial Gases - Global \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	0.0	0.0	0.0
On-site \| Corporate and other \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	0.0	0.0	0.0
Merchant \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 4,471.9	$ 3,951.2	$ 3,958.0
Percent sales by supply mode	43.00%	45.00%	44.00%
Merchant \| Industrial Gases - Americas \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 1,698.1	$ 1,590.5	$ 1,642.9
Merchant \| Industrial Gases - EMEA \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	1,571.8	1,297.0	1,274.1
Merchant \| Industrial Gases - Asia \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	1,202.0	1,063.7	1,041.0
Merchant \| Industrial Gases - Global \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	0.0	0.0	0.0
Merchant \| Corporate and other \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	0.0	0.0	0.0
Sale of Equipment \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 789.7	$ 582.8	$ 379.3
Percent sales by supply mode	8.00%	6.00%	4.00%
Sale of Equipment \| Industrial Gases - Americas \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 0.0	$ 0.0	$ 0.0
Sale of Equipment \| Industrial Gases - EMEA \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	0.0	0.0	0.0
Sale of Equipment \| Industrial Gases - Asia \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	0.0	0.0	0.0
Sale of Equipment \| Industrial Gases - Global \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	511.0	364.9	261.0
Sale of Equipment \| Corporate and other \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 278.7	$ 217.9	$ 118.3

Revenue Recognition (Remaining Performance Obligations) (Details) $ in Billions	Sep. 30, 2021 USD ($)
Revenue from Contract with Customer [Abstract]
Transaction price allocated to remaining performance obligations	$ 24
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01
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]: 2026-10-01
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 (Contract Assets and Liabilities) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Contract assets - current	$ 119.4	$ 55.9
Contract fulfillment costs - current	125.5	109.9
Contract liabilities - current	366.8	313.8
Contract liabilities - noncurrent	58.4	$ 57.9
Revenue recognized that was previously included in current contract liabilities	$ 240.0

Discontinued Operations (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended				12 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Discontinued Operations [Line Items]
Income (loss) from discontinued operations, net of tax					$ 70.3	$ (14.3)	$ 0.0
Cash provided by operating activities, discontinued operations					6.7	0.0	$ 0.0
Pre-tax loss from discontinued operations				$ 19.0		$ 19.0
Discontinued operations
Discontinued Operations [Line Items]
Tax benefit related to release of reserves					60.0
EfW \| Discontinued operations
Discontinued Operations [Line Items]
Tax benefit related to release of reserves		$ 8.2			8.2
PMD \| Discontinued operations
Discontinued Operations [Line Items]
Tax benefit related to release of reserves	$ 51.8				$ 51.8
Tax benefit related to settlement			$ 10.3

- Definition

Amount before tax of income (loss) from a discontinued operation. 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

- Definition

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

+ References

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+ Details

- 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

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+ Details

Inventories (Schedule of Inventory) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020
Inventory Disclosure [Abstract]
Finished goods	$ 150.7	$ 134.5
Work in process	24.0	21.3
Raw materials, supplies and other	279.2	249.0
Inventories	$ 453.9	$ 404.8

Summarized Financial Information of Equity Affiliates (Investment Listing) (Details)	Sep. 30, 2021
Abdullah Hashim Industrial Gases & Equipment Co., Ltd.
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	25.00%
Air Products South Africa (Proprietary) Limited
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	50.00%
Bangkok Cogeneration Company Limited
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	49.00%
Bangkok Industrial Gases Co., Ltd.
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	49.00%
Chengdu Air & Gas Products Ltd.
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	50.00%
Helios S.p.A.
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	49.00%
INFRA Group
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	40.00%
INOX Air Products Private Limited
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	50.00%
Jazan Gas Projects Company
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	26.00%
Kulim Industrial Gases Sdn. Bhd.
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	50.00%
Sapio Produzione Idrogeno Ossigeno S.r.l.
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	49.00%

Summarized Financial Information of Equity Affiliates (Table of Summarized Financial Information of Equity Affiliates) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Schedule of Equity Method Investments [Line Items]
Current assets	$ 8,376.3	$ 8,684.9
Noncurrent assets	18,482.9	16,483.6
Current liabilities	2,799.1	2,416.7
Noncurrent liabilities	9,972.1	10,308.7
Net sales	10,323.0	8,856.3	$ 8,918.9
Operating income	2,281.4	2,237.6	2,144.4
Net income	2,114.9	1,931.1	1,809.4
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Schedule of Equity Method Investments [Line Items]
Current assets	2,244.6	1,943.5
Noncurrent assets	4,630.7	4,529.2
Current liabilities	774.0	765.3
Noncurrent liabilities	2,852.5	2,958.8
Net sales	3,338.1	2,809.1	2,885.6
Gross profit	1,492.9	1,212.5	1,193.4
Operating income	962.2	748.6	763.4
Net income	$ 646.0	$ 567.8	$ 492.4

Summarized Financial Information of Equity Affiliates (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Schedule of Equity Method Investments [Line Items]
Dividends received from equity affiliates	$ 157.3	$ 107.0	$ 144.3
Investment in net assets of and advances to equity affiliates	1,649.3	1,432.2
Goodwill associated with affiliate companies accounted for by equity method	55.3	50.0
Proportionate share of accumulated dividend distribution taxes released per the India Finance Act		33.8
Obligation for future contribution to equity affiliate to be funded in next twelve months	150.0	94.4
Foreign affiliates
Schedule of Equity Method Investments [Line Items]
Investment in net assets of and advances to equity affiliates	$ 1,648.0	$ 1,431.3
Jazan Gas Projects Company
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	26.00%
Obligation for future contribution to equity affiliate to be funded in next twelve months	$ 94.4

Plant and Equipment, Net (Major Classes of Plant and Equipment) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Property, Plant and Equipment [Line Items]
Plant and equipment, at cost	$ 27,488.8	$ 25,176.2
Less: Accumulated depreciation	14,234.2	13,211.5
Plant and equipment, net	13,254.6	11,964.7	$ 10,337.6
Land
Property, Plant and Equipment [Line Items]
Plant and equipment, at cost	312.1	296.8
Buildings
Property, Plant and Equipment [Line Items]
Plant and equipment, at cost	$ 1,083.1	997.8
Useful life (in years)	30 years
Production facilities
Property, Plant and Equipment [Line Items]
Plant and equipment, at cost	$ 18,236.9	17,289.7
Production facilities \| Minimum
Property, Plant and Equipment [Line Items]
Useful life (in years)	10 years
Production facilities \| Maximum
Property, Plant and Equipment [Line Items]
Useful life (in years)	20 years
Distribution and other machinery and equipment
Property, Plant and Equipment [Line Items]
Plant and equipment, at cost	$ 5,111.6	4,807.7
Distribution and other machinery and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Useful life (in years)	5 years
Distribution and other machinery and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Useful life (in years)	25 years
Cylinders \| Minimum
Property, Plant and Equipment [Line Items]
Useful life (in years)	10 years
Cylinders \| Maximum
Property, Plant and Equipment [Line Items]
Useful life (in years)	25 years
Tanks
Property, Plant and Equipment [Line Items]
Useful life (in years)	20 years
Customer Stations
Property, Plant and Equipment [Line Items]
Useful life (in years)	7 years 6 months
Tractors and Trailers \| Minimum
Property, Plant and Equipment [Line Items]
Useful life (in years)	5 years
Tractors and Trailers \| Maximum
Property, Plant and Equipment [Line Items]
Useful life (in years)	15 years
Construction in progress
Property, Plant and Equipment [Line Items]
Plant and equipment, at cost	$ 2,745.1	$ 1,784.2

Plant and Equipment, Net (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 1,284.1	$ 1,150.5	$ 1,049.7

Goodwill (Schedule of Goodwill by Segment) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Goodwill [Roll Forward]
Goodwill, net, beginning balance	$ 891.5	$ 797.1
Acquisitions	21.0	71.1
Currency translation and other	(1.0)	23.3
Goodwill, net, ending balance	911.5	891.5
Industrial Gases - Americas
Goodwill [Roll Forward]
Goodwill, net, beginning balance	152.6	156.3
Acquisitions	0.0	0.0
Currency translation and other	(1.6)	(3.7)
Goodwill, net, ending balance	151.0	152.6
Industrial Gases - EMEA
Goodwill [Roll Forward]
Goodwill, net, beginning balance	524.1	432.3
Acquisitions	21.0	66.6
Currency translation and other	(3.6)	25.2
Goodwill, net, ending balance	541.5	524.1
Business combinations, tax deductible goodwill	0.0
Industrial Gases - Asia
Goodwill [Roll Forward]
Goodwill, net, beginning balance	180.4	178.5
Acquisitions	0.0	0.0
Currency translation and other	3.9	1.9
Goodwill, net, ending balance	184.3	180.4
Industrial Gases - Global
Goodwill [Roll Forward]
Goodwill, net, beginning balance	19.5	19.6
Acquisitions	0.0	0.0
Currency translation and other	0.3	(0.1)
Goodwill, net, ending balance	19.8	19.5
Corporate and other
Goodwill [Roll Forward]
Goodwill, net, beginning balance	14.9	10.4
Acquisitions	0.0	4.5
Currency translation and other	0.0	0.0
Goodwill, net, ending balance	$ 14.9	$ 14.9

Goodwill (Schedule of Accumulated Impairment Losses) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Goodwill [Line Items]
Goodwill, gross	$ 1,239.2	$ 1,230.2	$ 1,162.2
Goodwill, net	911.5	891.5	797.1
Industrial Gases - Americas
Goodwill [Line Items]
Accumulated impairment losses	(327.7)	(338.7)	(365.1)
Goodwill, net	$ 151.0	$ 152.6	$ 156.3

Intangible Assets (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense for intangible assets	$ 37.2	$ 34.5	$ 33.1

Intangible Assets (Acquired Intangible Assets) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets, gross	$ 720.5	$ 706.9
Accumulated amortization and impairment	(299.8)	(271.1)
Intangible assets, net	420.7	435.8
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	669.3	654.7
Accumulated amortization	(288.9)	(259.9)
Finite-lived intangible assets, net	380.4	394.8
Trade names and trademarks
Acquired Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets, gross	51.2	52.2
Accumulated impairment	(10.9)	(11.2)
Indefinite-lived intangible assets, net	40.3	41.0
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	552.0	538.0
Accumulated amortization	(234.7)	(209.9)
Finite-lived intangible assets, net	317.3	328.1
Patents and technology
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	36.8	39.1
Accumulated amortization	(16.9)	(16.3)
Finite-lived intangible assets, net	19.9	22.8
Other
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	80.5	77.6
Accumulated amortization	(37.3)	(33.7)
Finite-lived intangible assets, net	$ 43.2	$ 43.9

Intangible Assets (Projected Annual Amortization Expense for Intangible Assets) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
2022	$ 34.7
2023	33.2
2024	32.1
2025	30.8
2026	29.2
Thereafter	220.4
Total future amortization expense	$ 380.4	$ 394.8

Leases (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
Leases (Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Leases [Abstract]
Operating lease expense	$ 89.5	$ 80.1
Use of cash for payments on operating leases	98.8	90.0
Noncash ROU asset additions	259.0	442.0
Expected lease payments for operating leases that have not yet commenced	195.0
Interest income on lease receivables	67.4	71.2
Lease receivables, net	824.7	903.0
Lease payments collected during the period	166.2	162.8	$ 171.6
Reduction in lease receivable balance	$ 98.8	$ 91.6	$ 94.6

Leases (Presentation on Consolidated Balance Sheet) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020
Leases [Abstract]
Operating lease ROU asset, other noncurrent assets	$ 566.2	$ 376.8
Operating lease liabilities, payables and accrued liabilities	78.6	70.7
Operating lease liabilities, noncurrent	503.4	335.8
Total operating lease liabilities	$ 582.0	$ 406.5
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other noncurrent assets	Other noncurrent assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent	us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other noncurrent liabilities	Other noncurrent liabilities

Leases (Weighted-Average Remaining Lease Term and Discount Rate) (Details)	Sep. 30, 2021	Sep. 30, 2020
Leases [Abstract]
Weighted-average remaining lease term (in years)	17 years 2 months 12 days	15 years 8 months 12 days
Weighted-average discount rate (percent)	1.90%	2.10%

Leases (Maturity Analysis of Lease Liabilities and Minimum Payments Due) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020
Maturity Analysis of Operating Lease Liabilities
2022	$ 88.4
2023	71.3
2024	60.4
2025	51.1
2026	40.4
Thereafter	361.5
Total undiscounted lease payments	673.1
Imputed interest	(91.1)
Present value of lease liability recognized on balance sheet	$ 582.0	$ 406.5

Leases (Minimum Lease Payments Expected to be Collected) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020
Minimum Lease Payments Expected to be Collected on Sales-type and Direct Financing Leases
2022	$ 146.8
2023	143.1
2024	137.0
2025	131.4
2026	120.6
Thereafter	508.7
Total	1,187.6
Unearned interest income	(362.9)
Lease Receivables, net	$ 824.7	$ 903.0

Financial Instruments (Narrative) (Details) € in Millions	12 Months Ended
Financial Instruments (Narrative) (Details) € in Millions	Sep. 30, 2021 USD ($)	Sep. 30, 2021 EUR (€)	Sep. 30, 2020 USD ($)	Sep. 30, 2020 EUR (€)
Derivative [Line Items]
Net liability position of derivatives with credit risk-related contingent features	$ 53,400,000		$ 30,000,000.0
Collateral posted on liability positions with credit risk-related contingent features	0
Collateral amount that counterparties would be required to post	$ 38,100,000		76,500,000
Forward exchange contracts \| Cash flow hedges
Derivative [Line Items]
Maximum remaining maturity of foreign currency derivatives	3 years 2 months 12 days	3 years 2 months 12 days
Foreign currency debt \| Euro Denominated
Derivative [Line Items]
Notional amount included in designated foreign currency denominated debt	$ 1,502,600,000	€ 1,297.5	$ 1,510,800,000	€ 1,288.7

Financial Instruments (Currency Price Risk Management Instruments) (Details) - Forward exchange contracts - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Derivative [Line Items]
US$ Notional	$ 4,795.8	$ 5,163.9
Years Average Maturity	9 months 18 days	9 months 18 days
Designated as Hedging Instrument \| Cash flow hedges
Derivative [Line Items]
US$ Notional	$ 3,465.2	$ 2,842.1
Years Average Maturity	7 months 6 days	6 months
Designated as Hedging Instrument \| Net investment hedges
Derivative [Line Items]
US$ Notional	$ 638.0	$ 636.6
Years Average Maturity	3 years	3 years 9 months 18 days
Not Designated as Hedging Instrument
Derivative [Line Items]
US$ Notional	$ 692.6	$ 1,685.2
Years Average Maturity	1 month 6 days	3 months 18 days

Financial Instruments (Interest Rate Management Contracts and Cross Currency Interest Rate Swaps) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Interest rate swaps contracts \| Designated as Hedging Instrument \| Fair value hedges
Derivative [Line Items]
US$ Notional	$ 200.0	$ 200.0
Average Pay %	LIBOR	LIBOR
Average Receive %	2.76%	2.76%
Years Average Maturity	1 month 6 days	1 year 1 month 6 days
Cross currency interest rate swaps \| Designated as Hedging Instrument \| Net investment hedges
Derivative [Line Items]
US$ Notional	$ 210.2	$ 201.6
Average Pay %	4.32%	4.27%
Average Receive %	3.14%	3.12%
Years Average Maturity	2 years 2 months 12 days	3 years 2 months 12 days
Cross currency interest rate swaps \| Designated as Hedging Instrument \| Cash flow hedges
Derivative [Line Items]
US$ Notional	$ 1,005.7	$ 1,057.9
Average Pay %	4.98%	4.83%
Average Receive %	2.93%	2.98%
Years Average Maturity	2 years 8 months 12 days	2 years 6 months
Cross currency interest rate swaps \| Not Designated as Hedging Instrument
Derivative [Line Items]
US$ Notional	$ 4.2	$ 12.8
Average Pay %	5.39%	5.39%
Average Receive %	3.54%	3.54%
Years Average Maturity	2 years 2 months 12 days	3 years 2 months 12 days

Financial Instruments (Carrying Amount and Cumulative Hedging Adjustment) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Cumulative hedging adjustment, included in carrying amount	$ 0.5	$ 5.7
Current portion of long-term debt
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Carrying amounts of hedged item	400.5	0.0
Cumulative hedging adjustment, included in carrying amount	0.5	0.0
Long-term debt
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Carrying amounts of hedged item	0.0	405.4
Cumulative hedging adjustment, included in carrying amount	$ 0.0	$ 5.7

Financial Instruments (Fair Value and Balance Sheet Location of Derivatives) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020
Derivative [Line Items]
Total Derivatives, Assets	$ 83.4	$ 143.3
Total Derivatives, Liabilities	121.5	85.6
Designated as Hedging Instrument
Derivative [Line Items]
Total Derivatives, Assets	74.7	110.9
Total Derivatives, Liabilities	115.1	57.6
Not Designated as Hedging Instrument
Derivative [Line Items]
Total Derivatives, Assets	8.7	32.4
Total Derivatives, Liabilities	6.4	28.0
Forward exchange contracts \| Designated as Hedging Instrument \| Other receivables and current assets
Derivative [Line Items]
Total Derivatives, Assets	35.1	51.1
Forward exchange contracts \| Designated as Hedging Instrument \| Other noncurrent assets
Derivative [Line Items]
Total Derivatives, Assets	5.5	0.8
Forward exchange contracts \| Designated as Hedging Instrument \| Payables and accrued liabilities
Derivative [Line Items]
Total Derivatives, Liabilities	57.2	22.5
Forward exchange contracts \| Designated as Hedging Instrument \| Other noncurrent liabilities
Derivative [Line Items]
Total Derivatives, Liabilities	25.2	33.0
Forward exchange contracts \| Not Designated as Hedging Instrument \| Other receivables and current assets
Derivative [Line Items]
Total Derivatives, Assets	8.7	31.7
Forward exchange contracts \| Not Designated as Hedging Instrument \| Payables and accrued liabilities
Derivative [Line Items]
Total Derivatives, Liabilities	6.4	28.0
Interest rate management contracts \| Designated as Hedging Instrument \| Other receivables and current assets
Derivative [Line Items]
Total Derivatives, Assets	16.0	14.7
Interest rate management contracts \| Designated as Hedging Instrument \| Other noncurrent assets
Derivative [Line Items]
Total Derivatives, Assets	18.1	44.3
Interest rate management contracts \| Designated as Hedging Instrument \| Payables and accrued liabilities
Derivative [Line Items]
Total Derivatives, Liabilities	5.2	0.4
Interest rate management contracts \| Designated as Hedging Instrument \| Other noncurrent liabilities
Derivative [Line Items]
Total Derivatives, Liabilities	27.5	1.7
Interest rate management contracts \| Not Designated as Hedging Instrument \| Other noncurrent assets
Derivative [Line Items]
Total Derivatives, Assets	0.0	0.7
Interest rate management contracts \| Not Designated as Hedging Instrument \| Other noncurrent liabilities
Derivative [Line Items]
Total Derivatives, Liabilities	$ 0.0	$ 0.0

Financial Instruments (Gains and Losses Recognized In Other Comprehensive Income) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Summary of Net Investment Hedge Activity [Abstract]
Tax effects	$ (2.8)	$ 29.4	$ (25.1)
Net Amount Recognized in OCI	267.3	233.4	$ (356.2)
Summary of Cash Flow Hedge Activity [Abstract]
Tax effects	9.0	(23.7)
Net Amount Recognized in OCI	3.3	43.5
Net Investment Hedges
Summary of Net Investment Hedge Activity [Abstract]
Total Amount Recognized in OCI	21.6	(114.2)
Tax effects	(5.5)	28.2
Net Amount Recognized in OCI	16.1	(86.0)
Net Investment Hedges \| Forward exchange contracts
Summary of Net Investment Hedge Activity [Abstract]
Total Amount Recognized in OCI	11.4	(15.9)
Net Investment Hedges \| Foreign currency debt
Summary of Net Investment Hedge Activity [Abstract]
Total Amount Recognized in OCI	18.1	(100.2)
Net Investment Hedges \| Cross currency interest rate swaps
Summary of Net Investment Hedge Activity [Abstract]
Total Amount Recognized in OCI	(7.9)	1.9
Cash Flow Hedges
Summary of Cash Flow Hedge Activity [Abstract]
Total Amount Recognized in OCI	(5.7)	67.2
Tax effects	9.0	(23.7)
Net Amount Recognized in OCI	3.3	43.5
Cash Flow Hedges \| Forward exchange contracts
Summary of Cash Flow Hedge Activity [Abstract]
Total Amount Recognized in OCI	12.7	116.6
Cash Flow Hedges \| Forward exchange contracts, excluded components
Summary of Cash Flow Hedge Activity [Abstract]
Total Amount Recognized in OCI	(11.7)	(15.2)
Cash Flow Hedges \| Other
Summary of Cash Flow Hedge Activity [Abstract]
Total Amount Recognized in OCI	$ (6.7)	$ (34.2)

Financial Instruments (Cash Flow and Fair Value Hedges Location and Amounts Recognized) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Total Amounts Presented in the Consolidated Income Statement in which the Effects of Cash Flow and Fair Value Hedges are Recorded
Sales	$ 10,323.0	$ 8,856.3	$ 8,918.9
Cost of Sales	7,186.1	5,858.1	5,975.5
Other Income Expense, Net	52.8	65.4	49.3
Interest Expense	141.8	109.3	137.0
Other Nonoperating Income (Expense), Net	73.7	30.7	$ 66.7
(Gain) Loss Effects of Cash Flow Hedging:
Tax effects	13.9	(17.7)
Net (Gain) Loss Reclassified from OCI to Income	43.5	(57.7)
Cash Flow Hedges \| Sales
(Gain) Loss Effects of Cash Flow Hedging:
Amount reclassified from OCI into income	(0.8)	(0.2)
Tax effects	(0.2)	0.0
Net (Gain) Loss Reclassified from OCI to Income	(0.6)	(0.2)
Cash Flow Hedges \| Cost of Sales
(Gain) Loss Effects of Cash Flow Hedging:
Amount reclassified from OCI into income	(0.8)	(1.0)
Tax effects	(0.5)	(0.2)
Net (Gain) Loss Reclassified from OCI to Income	(0.3)	(0.8)
Cash Flow Hedges \| Interest Expense
(Gain) Loss Effects of Cash Flow Hedging:
Amount reclassified from OCI into income	5.6	4.2
Tax effects	2.1	1.4
Net (Gain) Loss Reclassified from OCI to Income	3.5	2.8
Cash Flow Hedges \| Other Non-Operating Income (Expense), Net
(Gain) Loss Effects of Cash Flow Hedging:
Amount reclassified from OCI into income	53.4	(78.4)
Tax effects	12.5	(18.9)
Net (Gain) Loss Reclassified from OCI to Income	40.9	(59.5)
Cash Flow Hedges \| Forward exchange contracts \| Sales
(Gain) Loss Effects of Cash Flow Hedging:
Amount reclassified from OCI into income	(0.8)	(0.2)
Cash Flow Hedges \| Forward exchange contracts \| Cost of Sales
(Gain) Loss Effects of Cash Flow Hedging:
Amount reclassified from OCI into income	(0.8)	(1.0)
Cash Flow Hedges \| Forward exchange contracts \| Interest Expense
(Gain) Loss Effects of Cash Flow Hedging:
Amount reclassified from OCI into income	0.0	0.0
Cash Flow Hedges \| Forward exchange contracts \| Other Non-Operating Income (Expense), Net
(Gain) Loss Effects of Cash Flow Hedging:
Amount reclassified from OCI into income	5.2	(117.9)
Cash Flow Hedges \| Forward exchange contracts, excluded components \| Sales
(Gain) Loss Effects of Cash Flow Hedging:
Amount excluded from effectiveness testing recognized in earnings based on amortization approach	0.0	0.0
Cash Flow Hedges \| Forward exchange contracts, excluded components \| Cost of Sales
(Gain) Loss Effects of Cash Flow Hedging:
Amount excluded from effectiveness testing recognized in earnings based on amortization approach	0.0	0.0
Cash Flow Hedges \| Forward exchange contracts, excluded components \| Interest Expense
(Gain) Loss Effects of Cash Flow Hedging:
Amount excluded from effectiveness testing recognized in earnings based on amortization approach	0.0	0.0
Cash Flow Hedges \| Forward exchange contracts, excluded components \| Other Non-Operating Income (Expense), Net
(Gain) Loss Effects of Cash Flow Hedging:
Amount excluded from effectiveness testing recognized in earnings based on amortization approach	9.1	17.0
Cash Flow Hedges \| Other \| Sales
(Gain) Loss Effects of Cash Flow Hedging:
Amount reclassified from OCI into income	0.0	0.0
Cash Flow Hedges \| Other \| Cost of Sales
(Gain) Loss Effects of Cash Flow Hedging:
Amount reclassified from OCI into income	0.0	0.0
Cash Flow Hedges \| Other \| Interest Expense
(Gain) Loss Effects of Cash Flow Hedging:
Amount reclassified from OCI into income	5.6	4.2
Cash Flow Hedges \| Other \| Other Non-Operating Income (Expense), Net
(Gain) Loss Effects of Cash Flow Hedging:
Amount reclassified from OCI into income	39.1	22.5
Fair Value Hedges \| Sales
(Gain) Loss Effects of Fair Value Hedging
Total (Gain) Loss Recognized in Income	0.0	0.0
Fair Value Hedges \| Cost of Sales
(Gain) Loss Effects of Fair Value Hedging
Total (Gain) Loss Recognized in Income	0.0	0.0
Fair Value Hedges \| Interest Expense
(Gain) Loss Effects of Fair Value Hedging
Total (Gain) Loss Recognized in Income	0.0	0.0
Fair Value Hedges \| Other Non-Operating Income (Expense), Net
(Gain) Loss Effects of Fair Value Hedging
Total (Gain) Loss Recognized in Income	0.0	0.0
Fair Value Hedges \| Other \| Sales
(Gain) Loss Effects of Fair Value Hedging
Hedges items	0.0	0.0
Derivatives designated as hedging instruments	0.0	0.0
Fair Value Hedges \| Other \| Cost of Sales
(Gain) Loss Effects of Fair Value Hedging
Hedges items	0.0	0.0
Derivatives designated as hedging instruments	0.0	0.0
Fair Value Hedges \| Other \| Interest Expense
(Gain) Loss Effects of Fair Value Hedging
Hedges items	(5.2)	0.5
Derivatives designated as hedging instruments	5.2	(0.5)
Fair Value Hedges \| Other \| Other Non-Operating Income (Expense), Net
(Gain) Loss Effects of Fair Value Hedging
Hedges items	0.0	0.0
Derivatives designated as hedging instruments	$ 0.0	$ 0.0

Financial Instruments Financial Instruments (Effects of Derivatives Not Designated as a Hedging Instrument) (Details) - Not Designated as Hedging Instrument - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Other Income (Expense), Net
Derivative Instruments, Gain (Loss) [Line Items]
Total (Gain) Loss Recognized in Income	$ 2.8	$ (1.5)
Other Income (Expense), Net \| Forward Exchange Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Total (Gain) Loss Recognized in Income	2.8	(1.5)
Other Income (Expense), Net \| Other
Derivative Instruments, Gain (Loss) [Line Items]
Total (Gain) Loss Recognized in Income	0.0	0.0
Other Non-Operating Income (Expense), Net
Derivative Instruments, Gain (Loss) [Line Items]
Total (Gain) Loss Recognized in Income	(2.2)	1.8
Other Non-Operating Income (Expense), Net \| Forward Exchange Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Total (Gain) Loss Recognized in Income	(2.7)	1.1
Other Non-Operating Income (Expense), Net \| Other
Derivative Instruments, Gain (Loss) [Line Items]
Total (Gain) Loss Recognized in Income	$ 0.5	$ 0.7

Fair Value Measurements (Schedule of the Carrying Values and Fair Values of Financial Instruments) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current portion carrying value	$ 7,634.8	$ 7,900.1
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current portion fair value	7,812.2	8,278.4
Forward exchange contracts \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	49.3	83.6
Derivative liabilities	88.8	83.5
Forward exchange contracts \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	49.3	83.6
Derivative liabilities	88.8	83.5
Interest rate management contracts \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	34.1	59.7
Derivative liabilities	32.7	2.1
Interest rate management contracts \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	34.1	59.7
Derivative liabilities	$ 32.7	$ 2.1

- Definition

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References + Details

Fair Value Measurements (Schedule of Recurring Fair Value Measurements) (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Assets at Fair Value	$ 83.4	$ 143.3
Total Liabilities at Fair Value	121.5	85.6
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Assets at Fair Value	0.0	0.0
Total Liabilities at Fair Value	0.0	0.0
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Assets at Fair Value	83.4	143.3
Total Liabilities at Fair Value	121.5	85.6
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Assets at Fair Value	0.0	0.0
Total Liabilities at Fair Value	0.0	0.0
Forward exchange contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	49.3	83.6
Derivative liabilities	88.8	83.5
Forward exchange contracts \| Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	0.0	0.0
Derivative liabilities	0.0	0.0
Forward exchange contracts \| Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	49.3	83.6
Derivative liabilities	88.8	83.5
Forward exchange contracts \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	0.0	0.0
Derivative liabilities	0.0	0.0
Interest rate management contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	34.1	59.7
Derivative liabilities	32.7	2.1
Interest rate management contracts \| Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	0.0	0.0
Derivative liabilities	0.0	0.0
Interest rate management contracts \| Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	34.1	59.7
Derivative liabilities	32.7	2.1
Interest rate management contracts \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	0.0	0.0
Derivative liabilities	$ 0.0	$ 0.0

Debt (Narrative) (Details) € in Billions			1 Months Ended	12 Months Ended
Debt (Narrative) (Details) € in Billions	Mar. 31, 2021 USD ($)	Mar. 30, 2021 USD ($)	Nov. 18, 2021 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2020 USD ($)	Sep. 30, 2019 USD ($)	Sep. 30, 2020 EUR (€)
Debt Instrument [Line Items]
Related party debt				$ 358,400,000	$ 338,500,000
Cash paid for interest, net of amounts capitalized				150,400,000	67,200,000	$ 155,900,000
Repayments of long-term debt				462,900,000	406,600,000	428,600,000
Proceeds from issuance debt				$ 178,900,000	4,895,800,000	$ 0
Payable in U.S. Dollars \| Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount					3,800,000,000
Payable in Euro \| Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount \| €							€ 1.0
Note 3.0% due 2022 \| Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage				3.00%
Note 3.0% due 2022 \| Senior Notes \| Subsequent event
Debt Instrument [Line Items]
Interest rate, stated percentage			3.00%
Repayments of long-term debt			$ 400,000,000
Revolving credit agreement \| Credit Agreement 2021
Debt Instrument [Line Items]
Term of credit facility (in years)	5 years
Maximum borrowing capacity	$ 2,500,000,000
Credit facility, amount borrowed and outstanding				$ 0
Revolving credit agreement \| Credit Agreement 2021 \| Maximum
Debt Instrument [Line Items]
Debt covenant, maximum ratio of total debt to capitalization	70.00%
Revolving credit agreement \| 2017 Credit Agreement
Debt Instrument [Line Items]
Term of credit facility (in years)		5 years
Maximum borrowing capacity		$ 2,300,000,000
Credit facility, amount borrowed and outstanding		$ 0			$ 0
Early termination penalties				0
Foreign credit facilities \| Foreign subsidiaries facilities
Debt Instrument [Line Items]
Maximum borrowing capacity				296,700,000
Credit facility, amount borrowed and outstanding				$ 176,200,000

Debt (Summary of Outstanding Debt) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020
Debt Disclosure [Abstract]
Short-term borrowings	$ 2.4	$ 7.7
Current portion of long-term debt	484.5	470.0
Long-term debt	6,875.7	7,132.9
Long-term debt – related party	274.6	297.2
Total Debt	$ 7,637.2	$ 7,907.8
Short-term debt, weighted average interest rate	0.60%	1.60%
Current portion of long-term debt due to related party	$ 83.8	$ 41.3

- Definition

Carrying amount as of the balance sheet date of obligations due all related parties. For classified balance sheets, represents the current portion of such liabilities (due within one year or within the normal operating cycle if longer).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(C))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19(a))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(k)(1))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

+ Details

Debt (Long-term Debt) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020
Debt Instrument [Line Items]
Long-term Debt, Principal Amount	$ 7,684.7	$ 7,950.2
Less: Unamortized discount and debt issuance costs	(50.4)	(55.8)
Less: Fair value hedge accounting adjustments	0.5	5.7
Total Long-term Debt	7,634.8	7,900.1
Less: Current portion of long-term debt	(484.5)	(470.0)
Less: Long-term debt – related party	(274.6)	(297.2)
Long-term Debt	6,875.7	7,132.9
Debentures \| Debenture 8.75% due 2021
Debt Instrument [Line Items]
Long-term Debt, Principal Amount	$ 0.0	18.4
Interest rate, stated percentage	8.75%
Medium-term Notes \| Series E 7.6% due 2026
Debt Instrument [Line Items]
Long-term Debt, Principal Amount	$ 17.2	17.2
Interest rate, weighted average	7.60%
Senior Notes \| Note 3.0% due 2022
Debt Instrument [Line Items]
Long-term Debt, Principal Amount	$ 400.0	400.0
Interest rate, stated percentage	3.00%
Senior Notes \| Note 2.75% due 2023
Debt Instrument [Line Items]
Long-term Debt, Principal Amount	$ 400.0	400.0
Interest rate, stated percentage	2.75%
Senior Notes \| Note 3.35% due 2024
Debt Instrument [Line Items]
Long-term Debt, Principal Amount	$ 400.0	400.0
Interest rate, stated percentage	3.35%
Senior Notes \| Note 1.50% due 2026
Debt Instrument [Line Items]
Long-term Debt, Principal Amount	$ 550.0	550.0
Interest rate, stated percentage	1.50%
Senior Notes \| Note 1.85% due 2027
Debt Instrument [Line Items]
Long-term Debt, Principal Amount	$ 650.0	650.0
Interest rate, stated percentage	1.85%
Senior Notes \| Note 2.05% due 2030
Debt Instrument [Line Items]
Long-term Debt, Principal Amount	$ 900.0	900.0
Interest rate, stated percentage	2.05%
Senior Notes \| Note 2.70% due 2040
Debt Instrument [Line Items]
Long-term Debt, Principal Amount	$ 750.0	750.0
Interest rate, stated percentage	2.70%
Senior Notes \| Note 2.80% due 2050
Debt Instrument [Line Items]
Long-term Debt, Principal Amount	$ 950.0	950.0
Interest rate, stated percentage	2.80%
Bonds \| Variable-rate industrial revenue bonds 0.02% due 2035 to 2050
Debt Instrument [Line Items]
Long-term Debt, Principal Amount	$ 618.9	631.9
Interest rate, weighted average	0.02%
Bonds \| Other 1.57% due 2024 to 2032
Debt Instrument [Line Items]
Interest rate, weighted average	1.57%
Bonds \| Eurobonds 0.375% due 2021
Debt Instrument [Line Items]
Long-term Debt, Principal Amount	$ 0.0	410.3
Interest rate, stated percentage	0.375%
Bonds \| Eurobonds 1.0% due 2025
Debt Instrument [Line Items]
Long-term Debt, Principal Amount	$ 347.4	351.7
Interest rate, stated percentage	1.00%
Bonds \| Eurobonds 0.50% due 2028
Debt Instrument [Line Items]
Long-term Debt, Principal Amount	$ 579.1	586.2
Interest rate, stated percentage	0.50%
Bonds \| Eurobonds 0.80% due 2032
Debt Instrument [Line Items]
Long-term Debt, Principal Amount	$ 579.1	586.2
Interest rate, stated percentage	0.80%
Bonds \| New Taiwan Dollar 1.86% due 2023 to 2028
Debt Instrument [Line Items]
Interest rate, stated percentage	1.86%
Bonds \| Other Foreign due 2023
Debt Instrument [Line Items]
Long-term Debt, Principal Amount	$ 0.3	0.6
Foreign credit facilities \| Other 1.57% due 2024 to 2032
Debt Instrument [Line Items]
Long-term Debt, Principal Amount	14.4	0.0
Foreign credit facilities \| New Taiwan Dollar 1.86% due 2023 to 2028
Debt Instrument [Line Items]
Long-term Debt, Principal Amount	161.8	0.0
Related Party \| Chinese Renminbi 5.5% due 2022 to 2027
Debt Instrument [Line Items]
Long-term Debt, Principal Amount	$ 355.0	338.5
Interest rate, stated percentage	5.50%
Related Party \| Chinese Renminbi 5.7% due 2033
Debt Instrument [Line Items]
Long-term Debt, Principal Amount	$ 3.4	0.0
Interest rate, stated percentage	5.70%
Capital Lease Obligations \| Foreign 11.6% due 2022 to 2036
Debt Instrument [Line Items]
Long-term Debt, Principal Amount	$ 8.1	$ 9.2
Interest rate, weighted average	11.60%

Debt (Maturities of Long-term Debt) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020
Principal maturities of long-term debt
2022	$ 484.0
2023	475.8
2024	492.5
2025	449.2
2026	662.7
Thereafter	5,120.5
Total	$ 7,684.7	$ 7,950.2

Retirement Benefits (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Defined Benefit Plan Disclosure [Line Items]
Shares of common stock in ESOP	1,941,938
Defined contribution plan cost recognized	$ 53.3	$ 45.6	$ 40.6
Pension and postretirement benefits	$ 25.6	17.9
U.S.
Defined Benefit Plan Disclosure [Line Items]
Expected return on plan assets	6.75%
International
Defined Benefit Plan Disclosure [Line Items]
Expected return on plan assets	4.73%
U.K.
Defined Benefit Plan Disclosure [Line Items]
Expected return on plan assets	5.30%
Percentage of plan assets as component of total international plan assets	80.00%
Defined Benefit Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Pension settlement loss	$ (1.3)	(5.0)	(6.2)
ABO for all defined benefit pension plans	5,140.0	5,166.5
Company contributions	44.6
Defined Benefit Pension Plan \| Minimum
Defined Benefit Plan Disclosure [Line Items]
Anticipated contributions for next fiscal year	40.0
Defined Benefit Pension Plan \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Anticipated contributions for next fiscal year	50.0
Defined Benefit Pension Plan \| Unfunded Plan
Defined Benefit Plan Disclosure [Line Items]
ABO for plans with obligation in excess plan assets	86.2
PBO for plans with obligation in excess of plan assets	91.7
Defined Benefit Pension Plan \| U.S.
Defined Benefit Plan Disclosure [Line Items]
Pension settlement loss	$ 1.3	5.0	$ 6.2
Amortization period based on approximate average remaining service period	7 years
ABO for plans with obligation in excess plan assets	$ 79.2	3,081.4
PBO for plans with obligation in excess of plan assets	$ 82.1	$ 3,202.2
Expected return on plan assets	6.80%	7.00%	7.00%
Company contributions	$ 6.9	$ 15.5
Prior service cost arising during the period	0.5	1.6
Accumulated benefit obligations	3,335.3	3,423.8	$ 3,281.6
Pension and postretirement benefits	19.6	10.5
Gains arising during the period	(273.2)	14.6
Amortization of net actuarial loss	(79.8)	(88.7)
Net actuarial loss on pretax basis	444.7	797.7
Defined Benefit Pension Plan \| International
Defined Benefit Plan Disclosure [Line Items]
Pension settlement loss	0.5	0.2	$ 0.2
ABO for plans with obligation in excess plan assets	416.8	475.8
PBO for plans with obligation in excess of plan assets	$ 456.6	$ 1,949.7
Expected return on plan assets	4.70%	5.00%	5.30%
Company contributions	$ 37.7	$ 22.0
Prior service cost arising during the period	0.0	0.0
Accumulated benefit obligations	1,969.6	1,949.7	$ 1,864.0
Pension and postretirement benefits	0.5	0.2
Gains arising during the period	(87.6)	68.9
Amortization of net actuarial loss	(19.8)	(19.7)
Net actuarial loss on pretax basis	$ 535.8	643.2
Defined Benefit Pension Plan \| U.K.
Defined Benefit Plan Disclosure [Line Items]
Amortization period based on approximate average remaining life expectancy	24 years
Other Postretirement Benefits Plan
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligations	$ 27.4	38.6
Pension and postretirement benefits	5.5	7.2
Gains arising during the period	(5.4)	(1.3)
Amortization of net actuarial loss	1.8	0.0
Net actuarial loss on pretax basis	$ (6.6)	$ (3.0)

Retirement Benefits (Schedule of Net Periodic Benefit Cost) (Details) - Defined Benefit Pension Plan - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Defined Benefit Plan Disclosure [Line Items]
Settlements	$ (1.3)	$ (5.0)	$ (6.2)
U.S.
Defined Benefit Plan Disclosure [Line Items]
Service cost	21.3	23.4	21.4
Interest cost	68.9	91.2	113.4
Expected return on plan assets	(194.5)	(188.7)	(172.5)
Prior service cost amortization	1.2	1.2	1.1
Actuarial loss amortization	78.5	83.7	65.3
Settlements	1.3	5.0	6.2
Special termination benefits	0.0	0.0	0.7
Other	0.0	0.0	0.0
Net Periodic (Benefit) Cost	(23.3)	15.8	35.6
International
Defined Benefit Plan Disclosure [Line Items]
Service cost	23.4	23.3	19.3
Interest cost	25.2	24.8	35.8
Expected return on plan assets	(83.4)	(77.4)	(75.1)
Prior service cost amortization	0.0	0.0	0.0
Actuarial loss amortization	19.3	19.5	10.9
Settlements	0.5	0.2	0.2
Special termination benefits	0.0	0.0	0.1
Other	1.0	0.8	0.8
Net Periodic (Benefit) Cost	$ (14.0)	$ (8.8)	$ (8.0)

Retirement Benefits (Assumptions in Calculating Net Periodic Benefit Cost) (Details)	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
U.S.
Defined Benefit Plan Disclosure [Line Items]
Expected return on plan assets	6.75%
International
Defined Benefit Plan Disclosure [Line Items]
Expected return on plan assets	4.73%
Defined Benefit Pension Plan \| U.S.
Defined Benefit Plan Disclosure [Line Items]
Discount rate – Service cost	3.00%	3.30%	4.30%
Discount rate – Interest cost	2.10%	2.90%	4.00%
Expected return on plan assets	6.80%	7.00%	7.00%
Rate of compensation increase	3.50%	3.50%	3.50%
Defined Benefit Pension Plan \| International
Defined Benefit Plan Disclosure [Line Items]
Discount rate – Service cost	1.60%	1.50%	2.50%
Discount rate – Interest cost	1.20%	1.30%	2.20%
Expected return on plan assets	4.70%	5.00%	5.30%
Rate of compensation increase	3.30%	3.30%	3.50%

Retirement Benefits (Assumptions in Calculating Projected Benefit Obligation) (Details) - Defined Benefit Pension Plan	Sep. 30, 2021	Sep. 30, 2020
U.S.
Defined Benefit Plan Disclosure [Line Items]
Discount rate	2.90%	2.70%
Rate of compensation increase	3.50%	3.50%
International
Defined Benefit Plan Disclosure [Line Items]
Discount rate	1.80%	1.50%
Rate of compensation increase	3.30%	3.30%

Retirement Benefits (Change in Projected Benefit Obligation) (Details) - Defined Benefit Pension Plan - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
U.S.
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Obligation at beginning of year	$ 3,423.8	$ 3,281.6
Service cost	21.3	23.4	$ 21.4
Interest cost	68.9	91.2	113.4
Amendments	0.5	1.6
Actuarial (gain) loss	(17.7)	190.5
Settlements	(3.0)	(11.7)
Special termination benefits	0.0	0.0
Participant contributions	0.0	0.0
Benefits paid	(158.5)	(152.5)
Currency translation and other	0.0	(0.3)
Obligation at end of year	3,335.3	3,423.8	3,281.6
International
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Obligation at beginning of year	1,949.7	1,864.0
Service cost	23.4	23.3	19.3
Interest cost	25.2	24.8	35.8
Amendments	0.0	0.0
Actuarial (gain) loss	(30.9)	(11.6)
Settlements	(1.8)	(0.9)
Special termination benefits	0.0	0.0
Participant contributions	1.3	1.2
Benefits paid	(52.8)	(49.8)
Currency translation and other	55.5	98.7
Obligation at end of year	$ 1,969.6	$ 1,949.7	$ 1,864.0

Retirement Benefits (Change in Plan Assets) (Details) - Defined Benefit Pension Plan - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Company contributions	$ 44.6
U.S.
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value at beginning of year	3,048.3	$ 2,832.4
Actual return on plan assets	450.0	364.6
Company contributions	6.9	15.5
Participant contributions	0.0	0.0
Benefits paid	(158.5)	(152.5)
Settlements	(3.0)	(11.7)
Currency translation and other	0.0	0.0
Fair Value at End of Year	3,343.7	3,048.3
Funded Status at End of Year	8.4	(375.5)
International
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value at beginning of year	1,726.8	1,672.4
Actual return on plan assets	140.1	(3.1)
Company contributions	37.7	22.0
Participant contributions	1.3	1.2
Benefits paid	(52.8)	(49.8)
Settlements	(1.8)	(0.9)
Currency translation and other	53.7	85.0
Fair Value at End of Year	1,905.0	1,726.8
Funded Status at End of Year	$ (64.6)	$ (222.9)

Retirement Benefits (Amounts Recognized on Balance Sheet) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020
Defined Benefit Plan Disclosure [Line Items]
Noncurrent assets	$ 219.2	$ 26.5
Accrued liabilities	25.6	17.9
Defined Benefit Pension Plan \| U.S.
Defined Benefit Plan Disclosure [Line Items]
Noncurrent assets	90.5	26.5
Accrued liabilities	19.6	10.5
Noncurrent liabilities	62.5	391.5
Net Asset (Liability) Recognized	8.4	(375.5)
Defined Benefit Pension Plan \| International
Defined Benefit Plan Disclosure [Line Items]
Noncurrent assets	128.7	0.0
Accrued liabilities	0.5	0.2
Noncurrent liabilities	192.8	222.7
Net Asset (Liability) Recognized	$ (64.6)	$ (222.9)

- Definition

Amount of asset, recognized in statement of financial position, for overfunded defined benefit pension and other postretirement plans.

+ References + Details

Retirement Benefits (Changes Recognized in Other Comprehensive Income on Pretax Basis) (Details) - Defined Benefit Pension Plan - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
U.S.
Defined Benefit Plan Disclosure [Line Items]
Net actuarial (gain)/loss arising during the period	$ (273.2)	$ 14.6
Amortization of net actuarial loss	(79.8)	(88.7)
Prior service cost arising during the period	0.5	1.6
Amortization of prior service cost	(1.2)	(1.2)
Total	(353.7)	(73.7)
International
Defined Benefit Plan Disclosure [Line Items]
Net actuarial (gain)/loss arising during the period	(87.6)	68.9
Amortization of net actuarial loss	(19.8)	(19.7)
Prior service cost arising during the period	0.0	0.0
Amortization of prior service cost	0.0	0.0
Total	$ (107.4)	$ 49.2

Retirement Benefits (Components Recognized in Accumulated Other Comprehensive Income on Pretax Basis) (Details) - Defined Benefit Pension Plan - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020
U.S.
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss	$ 444.7	$ 797.7
Prior service cost	6.3	7.0
Net transition liability	0.0	0.0
Total	451.0	804.7
International
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss	535.8	643.2
Prior service cost	3.6	3.6
Net transition liability	0.4	0.4
Total	$ 539.8	$ 647.2

Retirement Benefits (Benefit Liability Exceeds Value of Plan Assets) (Details) - Defined Benefit Pension Plan - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020
U.S.
Pension Plans with PBO in Excess of Plan Assets:
PBO	$ 82.1	$ 3,202.2
Fair value of plan assets	0.0	2,800.3
PBO in excess of plan assets	82.1	401.9
Pension Plans with ABO in Excess of Plan Assets:
ABO	79.2	3,081.4
Fair value of plan assets	0.0	2,800.3
ABO in excess of plan assets	79.2	281.1
International
Pension Plans with PBO in Excess of Plan Assets:
PBO	456.6	1,949.7
Fair value of plan assets	263.4	1,726.7
PBO in excess of plan assets	193.2	223.0
Pension Plans with ABO in Excess of Plan Assets:
ABO	416.8	475.8
Fair value of plan assets	263.4	324.4
ABO in excess of plan assets	$ 153.4	$ 151.4

Retirement Benefits (Plan Assets Target Allocation) (Details) - Defined Benefit Pension Plan	Sep. 30, 2021	Sep. 30, 2020
U.S.
Defined Benefit Plan Disclosure [Line Items]
Actual allocation (percent)	100.00%	100.00%
U.S. \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Actual allocation (percent)	30.00%	51.00%
U.S. \| Bonds (government and corporate)
Defined Benefit Plan Disclosure [Line Items]
Actual allocation (percent)	64.00%	43.00%
U.S. \| Real estate/other
Defined Benefit Plan Disclosure [Line Items]
Actual allocation (percent)	6.00%	5.00%
U.S. \| Cash
Defined Benefit Plan Disclosure [Line Items]
Actual allocation (percent)	0.00%	1.00%
U.S. \| Minimum \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation (percent)	20.00%
U.S. \| Minimum \| Bonds (government and corporate)
Defined Benefit Plan Disclosure [Line Items]
Target allocation (percent)	61.00%
U.S. \| Minimum \| Real estate/other
Defined Benefit Plan Disclosure [Line Items]
Target allocation (percent)	0.00%
U.S. \| Minimum \| Cash
Defined Benefit Plan Disclosure [Line Items]
Target allocation (percent)	0.00%
U.S. \| Maximum \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation (percent)	35.00%
U.S. \| Maximum \| Bonds (government and corporate)
Defined Benefit Plan Disclosure [Line Items]
Target allocation (percent)	76.00%
U.S. \| Maximum \| Real estate/other
Defined Benefit Plan Disclosure [Line Items]
Target allocation (percent)	10.00%
U.S. \| Maximum \| Cash
Defined Benefit Plan Disclosure [Line Items]
Target allocation (percent)	0.00%
International
Defined Benefit Plan Disclosure [Line Items]
Actual allocation (percent)	100.00%	100.00%
International \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Actual allocation (percent)	36.00%	43.00%
International \| Bonds (government and corporate)
Defined Benefit Plan Disclosure [Line Items]
Actual allocation (percent)	63.00%	56.00%
International \| Real estate/other
Defined Benefit Plan Disclosure [Line Items]
Actual allocation (percent)	0.00%	0.00%
International \| Cash
Defined Benefit Plan Disclosure [Line Items]
Actual allocation (percent)	1.00%	1.00%
International \| Minimum \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation (percent)	29.00%
International \| Minimum \| Bonds (government and corporate)
Defined Benefit Plan Disclosure [Line Items]
Target allocation (percent)	62.00%
International \| Minimum \| Real estate/other
Defined Benefit Plan Disclosure [Line Items]
Target allocation (percent)	0.00%
International \| Minimum \| Cash
Defined Benefit Plan Disclosure [Line Items]
Target allocation (percent)	2.00%
International \| Maximum \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation (percent)	38.00%
International \| Maximum \| Bonds (government and corporate)
Defined Benefit Plan Disclosure [Line Items]
Target allocation (percent)	71.00%
International \| Maximum \| Real estate/other
Defined Benefit Plan Disclosure [Line Items]
Target allocation (percent)	0.00%
International \| Maximum \| Cash
Defined Benefit Plan Disclosure [Line Items]
Target allocation (percent)	2.00%

Retirement Benefits (Pension Plan Assets at Fair Value by Asset Class) (Details) - Defined Benefit Pension Plan - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 246.6	$ 256.5	$ 254.1
U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3,343.7	3,048.3	2,832.4
U.S. \| Total U.S. Qualified Pension Plans at Fair Value
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3,157.8	2,878.6
U.S. \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	14.8	16.9
U.S. \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	325.3	573.9
U.S. \| Equity mutual funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	243.4	213.1
U.S. \| Equity pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	448.7	762.0
U.S. \| Bonds (government and corporate)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,125.6	1,312.7
U.S. \| Real estate pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	185.9	169.7
U.S. \| Level 1 \| Total U.S. Qualified Pension Plans at Fair Value
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	583.5	803.9
U.S. \| Level 1 \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	14.8	16.9
U.S. \| Level 1 \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	325.3	573.9
U.S. \| Level 1 \| Equity mutual funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	243.4	213.1
U.S. \| Level 1 \| Equity pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
U.S. \| Level 1 \| Bonds (government and corporate)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
U.S. \| Level 2 \| Total U.S. Qualified Pension Plans at Fair Value
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,574.3	2,074.7
U.S. \| Level 2 \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
U.S. \| Level 2 \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
U.S. \| Level 2 \| Equity mutual funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
U.S. \| Level 2 \| Equity pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	448.7	762.0
U.S. \| Level 2 \| Bonds (government and corporate)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,125.6	1,312.7
U.S. \| Level 3 \| Total U.S. Qualified Pension Plans at Fair Value
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
U.S. \| Level 3 \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
U.S. \| Level 3 \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
U.S. \| Level 3 \| Equity mutual funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
U.S. \| Level 3 \| Equity pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
U.S. \| Level 3 \| Bonds (government and corporate)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,905.0	1,726.8	$ 1,672.4
International \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	16.8	13.9
International \| Equity pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	676.4	746.8
International \| Fixed income pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	948.5	694.1
International \| Other pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	16.7	15.5
International \| Insurance contracts
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	246.6	256.5
International \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	16.8	13.9
International \| Level 1 \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	16.8	13.9
International \| Level 1 \| Equity pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
International \| Level 1 \| Fixed income pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
International \| Level 1 \| Other pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
International \| Level 1 \| Insurance contracts
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
International \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,641.6	1,456.4
International \| Level 2 \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
International \| Level 2 \| Equity pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	676.4	746.8
International \| Level 2 \| Fixed income pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	948.5	694.1
International \| Level 2 \| Other pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	16.7	15.5
International \| Level 2 \| Insurance contracts
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
International \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	246.6	256.5
International \| Level 3 \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
International \| Level 3 \| Equity pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
International \| Level 3 \| Fixed income pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
International \| Level 3 \| Other pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
International \| Level 3 \| Insurance contracts
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 246.6	$ 256.5

Retirement Benefits (Summary of Changes in Pension Plan Assets Fair Value Classified as Level 3) (Details) - Defined Benefit Pension Plan - Level 3 - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value at beginning of year	$ 256.5	$ 254.1
Actual return on plan assets:
Assets held at end of year	(7.9)	2.4
Purchases, sales, and settlements, net	(2.0)
Fair Value at End of Year	$ 246.6	$ 256.5

- Definition

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

+ References + Details

Retirement Benefits (Projected Benefit Payments) (Details) - Defined Benefit Pension Plan $ in Millions	Sep. 30, 2021 USD ($)
U.S.
Defined Benefit Plan Disclosure [Line Items]
2022	$ 179.3
2023	170.4
2024	174.3
2025	178.1
2026	180.7
2027-2031	936.5
International
Defined Benefit Plan Disclosure [Line Items]
2022	56.8
2023	60.2
2024	64.0
2025	64.6
2026	68.3
2027-2031	$ 375.9

Commitments and Contingencies (Litigation and Environmental Narrative) (Details) R$ in Millions	1 Months Ended	12 Months Ended
	Sep. 30, 2010 BRL (R$)	Sep. 30, 2021 USD ($) site	Sep. 30, 2021 BRL (R$) site	Sep. 30, 2020 USD ($)
Alleged Anticompete Litigation
Loss Contingencies [Line Items]
Civil fines imposed	R$ 179.2	$ 33,000,000
Provision for litigation		0
Maximum of loss contingency range subject to interest		$ 33,000,000	R$ 179.2
Environmental
Loss Contingencies [Line Items]
Approximate number of sites on which settlement has not been reached \| site		31	31
Accrual for environmental loss contingencies		$ 76,700,000		$ 84,700,000
Accrual for environmental loss contingencies, maximum payout period		30 years
Environmental \| Minimum
Loss Contingencies [Line Items]
Estimate of possible exposure from environment loss contingencies		$ 76,000,000
Environmental \| Maximum
Loss Contingencies [Line Items]
Estimate of possible exposure from environment loss contingencies		$ 90,000,000

Commitments and Contingencies (Pace, Piedmont, Pasadena Narrative) (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2012	Sep. 30, 2008	Sep. 30, 2006
Loss Contingencies [Line Items]
Pretax environmental expense		$ 18,600,000	$ 18,300,000	$ 14,200,000
Pre-tax loss from discontinued operations	$ 19,000,000.0		$ 19,000,000.0
Pace, Florida
Loss Contingencies [Line Items]
Accrual for environmental loss contingencies		39,800,000					$ 42,000,000
Change in estimated exposure	$ 19,000,000	0
Pace, Florida \| Discontinued Operations
Loss Contingencies [Line Items]
Pretax environmental expense							$ 42,000,000
Piedmont, South Carolina
Loss Contingencies [Line Items]
Accrual for environmental loss contingencies		9,500,000				$ 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		$ 11,200,000
Total anticipated exposure					$ 13,000,000

Commitments and Contingencies (Asset Retirement Obligations) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Asset Retirement Obligation [Roll Forward]
Asset retirement obligations, beginning of period	$ 241.4	$ 208.2
Additional accruals	16.5	22.0
Liabilities settled	(4.1)	(2.8)
Accretion expense	10.5	9.5
Currency translation adjustment	5.3	4.5
Asset retirement obligations, end of period	$ 269.6	$ 241.4

Commitments and Contingencies (Guarantees and Other Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020	Apr. 30, 2015
Guarantor Obligations [Line Items]
Equity contributions or payments required	$ 0.0
Obligation for future contribution to equity affiliate to be funded in next twelve months	150.0	$ 94.4
Unrecorded Unconditional Purchase Obligation [Line Items]
Unconditional purchase obligation	9,982.0
Purchase obligations in 2022	$ 1,656.0
Jazan Gas Projects Company
Guarantor Obligations [Line Items]
Ownership interest percentage	26.00%
Obligation for future contribution to equity affiliate to be funded in next twelve months	$ 94.4
Jazan Gas Projects Company \| Performance Guarantee
Guarantor Obligations [Line Items]
Maximum potential payment under guarantees	247.0
Jazan Gas Projects Company \| Financial Guarantee
Guarantor Obligations [Line Items]
Maximum potential payment under guarantees	100.0
Percentage guaranteed share of loan			25.00%
Helium Purchases
Unrecorded Unconditional Purchase Obligation [Line Items]
Unconditional purchase obligation	8,300.0
Purchase Commitments for Plant and Equipment
Unrecorded Unconditional Purchase Obligation [Line Items]
Purchase obligations in 2022	$ 1,000.0
Trinidad Facility \| Performance Guarantee
Guarantor Obligations [Line Items]
Ownership interest percentage	50.00%
Maximum potential payment under guarantees	$ 24.0

Commitments and Contingencies (Unconditional Purchase Obligations) (Details) $ in Millions	Sep. 30, 2021 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2022	$ 1,656
2023	540
2024	543
2025	563
2026	545
Thereafter	6,135
Total	$ 9,982

Capital Stock (Common Stock Narrative) (Details) - USD ($)	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018	Sep. 15, 2011
Equity [Abstract]
Common stock, authorized shares	300,000,000
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares issued	249,455,584	249,455,584
Common stock, shares outstanding	221,396,755	221,017,459	220,415,262	219,515,245
Share repurchase program authorized amount					$ 1,000,000,000
Shares repurchased during period (shares)	0
Share repurchase authorization remaining amount	$ 485,300,000

Capital Stock (Changes in Common Shares) (Details) - shares	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Changes in Common Shares [Roll Forward]
Balance, beginning of year (shares)	221,017,459	220,415,262	219,515,245
Issuance of treasury shares for stock option and award plans (shares)	379,296	602,197	900,017
Balance, end of year (shares)	221,396,755	221,017,459	220,415,262

Capital Stock (Preferred Stock Narrative) (Details) - $ / shares	Sep. 30, 2021	Sep. 30, 2020
Class of Stock [Line Items]
Preferred stock, shares authorized	25,000,000
Preferred stock, par value (in dollars per share)	$ 1
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Series A Junior Participating Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares authorized	2,500,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

Share-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future grant	1,566,433
Closing stock price (in dollars per share)	$ 256.11
Cash received from option exercises	$ 10.6	$ 34.1	$ 68.1
Total tax benefit realized from stock option exercises	6.8
Excess tax benefit from stock option exercises	$ 6.5
Deferred Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units/shares granted	188,000
Weighted-average grant date fair value (in dollars per share)	$ 261.95
Cash payments made for deferred stock units	$ 5.2	4.8	1.9
Unrecognized compensation costs	$ 47.0
Unrecognized compensation costs, period for recognition, years	1 year 6 months
Fair value of deferred stock units paid	$ 88.0	$ 65.4	$ 19.2
Deferred Stock Units \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting or deferral period	2 years
Deferred Stock Units \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting or deferral period	5 years
Director Deferred Stock Units \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period after service in which to elect payment	10 years
Market-Based Deferred Stock Unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting or deferral period	3 years
Number of units/shares granted	77,251	80,215	114,929
Weighted-average grant date fair value (in dollars per share)	$ 235.48	$ 275.19	$ 229.61
Time-Based Deferred Stock Unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units/shares granted	110,555	123,448	169,666
Weighted-average grant date fair value (in dollars per share)	$ 282.48	$ 230.92	$ 168.68
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting or deferral period	3 years
Exercisable period from grant date	10 years
Weighted average remaining contractual terms, outstanding	1 year 10 months 24 days
Weighted average remaining contractual terms, exercisable	1 year 10 months 24 days
Aggregated intrinsic value, outstanding	$ 125.0
Aggregated intrinsic value, exercisable	125.0
Intrinsic value of stock options exercised	29.0	$ 65.7	$ 87.2
Cash received from option exercises	$ 10.6

Share-Based Compensation (Compensation Cost Recognized in Income Statement) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Before-tax share-based compensation cost	$ 44.5	$ 55.8	$ 41.2
Income tax benefit	(11.0)	(13.0)	(9.7)
After-tax share-based compensation cost	$ 33.5	$ 42.8	$ 31.5

Share-Based Compensation (Market-Based Deferred Stock Unit Valuation Assumptions) (Details) - Market-Based Deferred Stock Unit	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	29.90%	17.80%	17.50%
Risk-free interest rate	0.20%	1.60%	2.80%
Expected dividend yield	2.10%	2.40%	2.60%

Share-Based Compensation (Summary of Deferred Stock Units Activity) (Details) - $ / shares	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Deferred Stock Units
Shares
Outstanding, beginning (shares)	926,000
Granted (shares)	188,000
Paid out (shares)	(330,000)
Forfeited (shares)	(17,000)
Adjusted (in shares)	87,000
Outstanding, ending (shares)	854,000	926,000
Weighted Average Grant Date Fair Value
Outstanding, beginning (in dollars per share)	$ 181.14
Granted (in dollars per share)	261.95
Paid out (in dollars per share)	185.33
Forfeited (in dollars per share)	241.55
Adjusted (in dollars per share)	161.64
Outstanding, ending (in dollars per share)	$ 194.12	$ 181.14
Market-Based Deferred Stock Unit
Shares
Granted (shares)	77,251	80,215	114,929
Weighted Average Grant Date Fair Value
Granted (in dollars per share)	$ 235.48	$ 275.19	$ 229.61

Share-Based Compensation (Summary of Stock Option Activity) (Details) shares in Thousands	12 Months Ended
	Sep. 30, 2021 $ / shares shares
Shares
Outstanding, beginning (shares) \| shares	941
Exercised (shares) \| shares	(140)
Outstanding, ending (shares) \| shares	801
Exercisable (shares) \| shares	801
Weighted Average Exercise Price
Outstanding, beginning (in dollars per share) \| $ / shares	$ 96.95
Exercised (in dollars per share) \| $ / shares	80.63
Outstanding, ending (in dollars per share) \| $ / shares	99.79
Exercisable (in dollars per share) \| $ / shares	$ 99.79

Accumulated Other Comprehensive Loss (Rollforward) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 12,443.1	$ 11,388.3	$ 11,176.3
Other comprehensive income (loss) before reclassifications	544.9	208.7	(726.5)
Amounts reclassified from AOCL	118.1	24.8	72.9
Total Other Comprehensive Income (Loss)	663.0	233.5	(653.6)
Amount attributable to noncontrolling interest	38.8	(2.0)	(19.9)
Ending balance	14,088.0	12,443.1	11,388.3
Derivatives qualifying as hedges
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance		(61.4)	(37.6)
Other comprehensive income (loss) before reclassifications			(44.1)
Amounts reclassified from AOCL			12.3
Total Other Comprehensive Income (Loss)			(31.8)
Amount attributable to noncontrolling interest			(8.0)
Ending balance			(61.4)
Derivatives qualifying as hedges
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(54.5)
Other comprehensive income (loss) before reclassifications	3.3	43.5
Amounts reclassified from AOCL	43.5	(57.7)
Total Other Comprehensive Income (Loss)	46.8	(14.2)
Amount attributable to noncontrolling interest	20.6	(21.1)
Ending balance	(28.3)	(54.5)
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(1,142.8)	(1,356.9)	(1,009.8)
Other comprehensive income (loss) before reclassifications	267.3	233.4	(356.2)
Amounts reclassified from AOCL	0.0	0.0	(2.6)
Total Other Comprehensive Income (Loss)	267.3	233.4	(358.8)
Amount attributable to noncontrolling interest	18.3	19.3	(11.7)
Ending balance	(893.8)	(1,142.8)	(1,356.9)
Pension and postretirement benefits
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(942.8)	(957.3)	(694.5)
Other comprehensive income (loss) before reclassifications	274.3	(68.2)	(326.2)
Amounts reclassified from AOCL	74.6	82.5	63.2
Total Other Comprehensive Income (Loss)	348.9	14.3	(263.0)
Amount attributable to noncontrolling interest	(0.1)	(0.2)	(0.2)
Ending balance	(593.8)	(942.8)	(957.3)
AOCL attributable to Air Products
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(2,140.1)	(2,375.6)	(1,741.9)
Total Other Comprehensive Income (Loss)	624.2	235.5	(633.7)
Ending balance	$ (1,515.9)	$ (2,140.1)	$ (2,375.6)

Accumulated Other Comprehensive Loss (Reclassification) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Sales	$ (10,323.0)	$ (8,856.3)	$ (8,918.9)
Cost of sales	(7,186.1)	(5,858.1)	(5,975.5)
Other income (expense), net	(52.8)	(65.4)	(49.3)
Interest expense	(141.8)	(109.3)	(137.0)
Other non-operating income (expense), net	(73.7)	(30.7)	(66.7)
Net income (loss) attributable to Air Products	(2,099.1)	(1,886.7)	(1,760.0)
Reclassification out of Accumulated Other Comprehensive Income \| (Gain) Loss on Cash Flow Hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Sales	(0.6)	(0.2)
Cost of sales	(0.3)	(0.8)
Other income (expense), net	0.0	0.0
Interest expense	3.5	2.8
Other non-operating income (expense), net	40.9	(59.5)
Net income (loss) attributable to Air Products	43.5	(57.7)
Reclassification out of Accumulated Other Comprehensive Income \| (Gain) Loss on Cash Flow Hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Sales			0.4
Cost of sales			0.2
Other income (expense), net			(3.0)
Interest expense			14.7
Other non-operating income (expense), net			0.0
Net income (loss) attributable to Air Products			12.3
Reclassification out of Accumulated Other Comprehensive Income \| Currency Translation Adjustment
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net income (loss) attributable to Air Products	0.0	0.0	(2.6)
Reclassification out of Accumulated Other Comprehensive Income \| Pension and Postretirement Benefits
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net income (loss) attributable to Air Products	$ 74.6	$ 82.5	$ 63.2

Earnings Per Share (Schedule of Earnings per Share) (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions

12 Months Ended

Sep. 30, 2021

Sep. 30, 2020

Sep. 30, 2019

Earnings Per Share [Abstract]

Net income from continuing operations

$ 2,028.8

$ 1,901.0

$ 1,760.0

Net income (loss) from discontinued operations

70.3

(14.3)

0.0

Net Income Attributable to Air Products

$ 2,099.1

$ 1,886.7

$ 1,760.0

Weighted average common shares — Basic

221.6

221.2

220.3

Employee stock option and other award plans

0.9

1.1

1.3

Weighted average common shares — Diluted

222.5

222.3

221.6

Per Share Data

Basic EPS from continuing operations (in dollars per share)

^[1]

$ 9.16

$ 8.59

$ 7.99

Basic EPS from discontinued operations (in dollars per share)

^[1]

0.32

(0.06)

Basic EPS Attributable to Air Products (in dollars per share)

^[1]

9.47

8.53

7.99

Diluted EPS from continuing operations (in dollars per share)

^[1]

9.12

8.55

7.94

Diluted EPS from discontinued operations (in dollars per share)

^[1]

0.32

(0.06)

Diluted EPS Attributable to Air Products (in dollars per share)

^[1]

$ 9.43

$ 8.49

$ 7.94

[1]	Earnings per share ("EPS") is calculated independently for each component and may not sum to total EPS due to rounding.

Earnings Per Share (Narrative) (Details) - shares shares in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Antidilutive options excluded from computation of diluted earnings per share	0.0	0.0	0.0

Income Taxes (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		12 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
Income Taxes [Line Items]
Cash paid for taxes (net of cash refunds)			$ 383.8	$ 379.9	$ 324.3
Cash provided by operating activities			$ 6.7	0.0	$ 0.0
Income tax provision related to estimated withholding taxes on future dividends				20.3
Proportionate share of accumulated dividend distribution taxes released per the India Finance Act				$ 33.8
U.S. federal statutory tax rate			21.00%	21.00%	21.00%
Discrete net tax expense related to Tax Act					$ 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
Deemed repatriation tax obligation after application of foreign tax credits	$ 177.7		$ 177.7
Deemed repatriation tax obligation in noncurrent liabilities	157.1		$ 157.1	$ 190.9
Period of payment on deemed repatriation tax obligation (in years)			5 years
Impact of tax holidays				$ 26.9
Impact of tax holidays (in dollars per share)				$ 0.12
Excess tax benefits from share-based compensation			$ 17.0	$ 20.0	14.6
Deferred tax assets, valuation allowance	97.6		97.6	95.0
Cumulative undistributed earnings	5,900.0		5,900.0
U.S. Income and foreign withholding taxes estimate	540.4		540.4
Unrecognized tax benefits that would impact effective tax rate	73.7		73.7
Reserves for unrecognized tax benefits decrease due to statute of limitations expiration			104.6	14.0	3.9
Interest and penalties related to unrecognized tax benefits			(0.2)	6.1	$ 12.0
Accrued interest and penalties	24.9		24.9	$ 25.2
Discontinued Operations
Income Taxes [Line Items]
Tax benefit related to release of reserves			60.0
Foreign Loss Carryforwards
Income Taxes [Line Items]
Deferred tax assets, valuation allowance	35.1		35.1
Foreign Capital Losses
Income Taxes [Line Items]
Deferred tax assets, valuation allowance	55.4		55.4
U.S. Federal
Income Taxes [Line Items]
Tax credit carryforwards	2.1		2.1
Foreign
Income Taxes [Line Items]
Tax credit carryforwards	27.5		27.5
Indefinite tax credit carryforwards	14.2		14.2
Operating loss carryforwards	258.8		258.8
Operating loss carryforwards not subject to expiration	111.5		111.5
PMD \| Discontinued Operations
Income Taxes [Line Items]
Tax benefit related to release of reserves	$ 51.8		51.8
EfW \| Discontinued Operations
Income Taxes [Line Items]
Tax benefit related to release of reserves		$ 8.2	8.2
Discontinued operations \| PMD
Income Taxes [Line Items]
Reserves for unrecognized tax benefits decrease due to statute of limitations expiration			65.6
Related deferred tax assets			13.8
Discontinued operations \| EfW
Income Taxes [Line Items]
Reserves for unrecognized tax benefits decrease due to statute of limitations expiration			8.2
Other reserves
Income Taxes [Line Items]
Reserves for unrecognized tax benefits decrease due to statute of limitations expiration			27.5
Related deferred tax assets			8.4
Tax benefit			$ 21.5

Income Taxes (Income of U.S and Foreign Operations Before Taxes) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Income from Continuing Operations Before Taxes
United States income	$ 924.6	$ 943.7	$ 723.3
Foreign income	1,288.7	1,215.3	1,350.8
Equity affiliates' income	294.1	264.8	215.4
Income From Continuing Operations Before Taxes	$ 2,507.4	$ 2,423.8	$ 2,289.5

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
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-Subparagraph (c)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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-Subparagraph (SX 210.7-04(8))
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Subparagraph (SX 210.9-05(b)(2))
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Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
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-Section S99
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-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

Income Taxes (Components of the Income Taxes Provision) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Current Tax Provision
Federal	$ 85.6	$ 26.9	$ 163.7
State	28.4	23.8	23.3
Foreign	254.8	262.7	235.5
Total current tax provision	368.8	313.4	422.5
Deferred Tax Provision
Federal	54.7	108.8	9.7
State	(0.1)	(3.6)	2.4
Foreign	39.4	59.8	45.5
Total deferred tax provision	94.0	165.0	57.6
Total income tax provision	$ 462.8	$ 478.4	$ 480.1

Income Taxes (Effective Tax Rate Reconciliation) (Details)	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
U.S. federal statutory tax rate	21.00%	21.00%	21.00%
State taxes, net of federal benefit	0.90%	0.60%	1.00%
Income from equity affiliates	(2.50%)	(2.30%)	(2.00%)
Foreign tax differentials	0.50%	0.10%	1.00%
Tax on foreign repatriated earnings	0.70%	0.90%	0.10%
Share-based compensation	(0.70%)	(0.80%)	(0.60%)
Tax reform repatriation	0	0	0.019
Other	(1.40%)	0.20%	(1.40%)
Effective Tax Rate	18.50%	19.70%	21.00%

Income Taxes (Significant Components of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020
Gross Deferred Tax Assets
Retirement benefits and compensation accruals	$ 69.4	$ 209.0
Tax loss carryforwards	120.9	112.6
Tax credits and other tax carryforwards	27.3	40.3
Reserves and accruals	74.5	67.0
Currency losses	30.4	30.4
Other	44.0	64.6
Valuation allowance	(97.6)	(95.0)
Deferred Tax Assets	268.9	428.9
Gross Deferred Tax Liabilities
Plant and equipment	1,171.8	1,110.9
Unremitted earnings of foreign entities	69.1	58.7
Partnership and other investments	15.3	19.3
Intangible assets	86.2	83.6
Other	7.2	3.9
Deferred Tax Liabilities	1,349.6	1,276.4
Net Deferred Income Tax Liability	$ 1,080.7	$ 847.5

Income Taxes (Deferred Tax Assets and Liabilities Included in Consolidated Financials) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020
Deferred Tax Assets
Other noncurrent assets	$ 100.2	$ 115.1
Deferred Tax Liabilities
Deferred income taxes	1,180.9	962.6
Net Deferred Income Tax Liability	$ 1,080.7	$ 847.5

Income Taxes (Deferred Tax Assets for Certain Tax Credits) (Details) $ in Millions	Sep. 30, 2021 USD ($)
U.S. State
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	$ 2.2
U.S. Federal
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	2.1
Foreign
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	$ 27.5

Income Taxes (Summary of Operating and Capital Loss Carryforwards) (Details) $ in Millions	Sep. 30, 2021 USD ($)
U.S. State
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 318.8
U.S. Federal
Operating Loss Carryforwards [Line Items]
Capital loss carryforwards	26.5
Foreign
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	258.8
Capital loss carryforwards	$ 221.6

Income Taxes (Reconciliation of Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Unrecognized Tax Benefits
Balance at beginning of year	$ 237.0	$ 231.7	$ 233.6
Additions for tax positions of the current year	14.5	7.6	7.8
Additions for tax positions of prior years	3.5	17.7	14.2
Reductions for tax positions of prior years	(8.2)	(4.1)	(14.7)
Settlements	(3.1)	(1.2)	(1.5)
Statute of limitations expiration	(104.6)	(14.0)	(3.9)
Foreign currency translation	1.2
Foreign currency translation		(0.7)	(3.8)
Balance at end of year	$ 140.3	$ 237.0	$ 231.7

Income Taxes (Summary of Income Tax Examinations) (Details)	12 Months Ended
	Sep. 30, 2021
U.S. Federal \| U.S. Federal \| Minimum
Income Tax Examination [Line Items]
Open tax year subject to examination	2018
U.S. Federal \| U.S. Federal \| Maximum
Income Tax Examination [Line Items]
Open tax year subject to examination	2021
U.S. State \| U.S. State \| Minimum
Income Tax Examination [Line Items]
Open tax year subject to examination	2012
U.S. State \| U.S. State \| Maximum
Income Tax Examination [Line Items]
Open tax year subject to examination	2021
Foreign \| Canada \| Minimum
Income Tax Examination [Line Items]
Open tax year subject to examination	2015
Foreign \| Canada \| Maximum
Income Tax Examination [Line Items]
Open tax year subject to examination	2021
Foreign \| France \| Minimum
Income Tax Examination [Line Items]
Open tax year subject to examination	2018
Foreign \| France \| Maximum
Income Tax Examination [Line Items]
Open tax year subject to examination	2021
Foreign \| Germany \| Minimum
Income Tax Examination [Line Items]
Open tax year subject to examination	2017
Foreign \| Germany \| Maximum
Income Tax Examination [Line Items]
Open tax year subject to examination	2021
Foreign \| Netherlands \| Minimum
Income Tax Examination [Line Items]
Open tax year subject to examination	2016
Foreign \| Netherlands \| Maximum
Income Tax Examination [Line Items]
Open tax year subject to examination	2021
Foreign \| Spain \| Minimum
Income Tax Examination [Line Items]
Open tax year subject to examination	2015
Foreign \| Spain \| Maximum
Income Tax Examination [Line Items]
Open tax year subject to examination	2021
Foreign \| United Kingdom \| Minimum
Income Tax Examination [Line Items]
Open tax year subject to examination	2018
Foreign \| United Kingdom \| Maximum
Income Tax Examination [Line Items]
Open tax year subject to examination	2021
Foreign \| China \| Minimum
Income Tax Examination [Line Items]
Open tax year subject to examination	2011
Foreign \| China \| Maximum
Income Tax Examination [Line Items]
Open tax year subject to examination	2021
Foreign \| South Korea \| Minimum
Income Tax Examination [Line Items]
Open tax year subject to examination	2010
Foreign \| South Korea \| Maximum
Income Tax Examination [Line Items]
Open tax year subject to examination	2021
Foreign \| Taiwan \| Minimum
Income Tax Examination [Line Items]
Open tax year subject to examination	2016
Foreign \| Taiwan \| Maximum
Income Tax Examination [Line Items]
Open tax year subject to examination	2021
Foreign \| Chile \| Minimum
Income Tax Examination [Line Items]
Open tax year subject to examination	2018
Foreign \| Chile \| Maximum
Income Tax Examination [Line Items]
Open tax year subject to examination	2021

Supplemental Information (Other Receivables and Current Assets) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020
Disclosure Text Block Supplement [Abstract]
Contract assets	$ 119.4	$ 55.9
Contract fulfillment costs	125.5	109.9
Derivative instruments	59.8	97.5
Current lease receivables	84.4	86.7
Other	161.8	132.9
Other receivables and current assets	$ 550.9	$ 482.9

Supplemental Information (Other Noncurrent Assets) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020
Disclosure Text Block Supplement [Abstract]
Operating lease right-of-use assets	$ 566.2	$ 376.8
Pension benefits	219.2	26.5
Long-term deposits on plant and equipment	200.0	100.0
Deferred tax assets	100.2	115.1
Prepaid tax	75.0	19.3
Other Long-term Investments	66.9	17.0
Derivative instruments	23.6	45.8
Other	255.4	242.6
Other noncurrent assets	$ 1,506.5	$ 943.1

Supplemental Information (Payables and Accrued Liabilities) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020
Disclosure Text Block Supplement [Abstract]
Trade creditors	$ 736.8	$ 546.2
Contract liabilities	366.8	313.8
Dividends payable	332.1	296.2
Accrued payroll and employee benefits	221.2	196.8
Obligation for future contribution to an equity affiliate	150.0	94.4
Current lease obligations	78.6	70.7
Derivative instruments	68.8	50.9
Pension and postretirement benefits	25.6	17.9
Other	238.4	246.3
Payables and accrued liabilities	$ 2,218.3	$ 1,833.2

Supplemental Information (Other Noncurrent Liabilities) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020
Disclosure Text Block Supplement [Abstract]
Pension benefits	$ 255.3	$ 614.2
Postretirement benefits	22.1	31.4
Operating lease liabilities	503.4	335.8
Asset retirement obligations	258.0	236.2
Long-term accrued income taxes related to U.S. tax reform	157.1	190.9
Contingencies related to uncertain tax positions	111.8	138.6
Environmental liabilities	68.5	73.6
Contract liabilities	58.4	57.9
Derivative instruments	52.7	34.7
Other	153.6	202.7
Other noncurrent liabilities	$ 1,640.9	$ 1,916.0

Supplemental Information (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Dec. 31, 2018	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Disclosure Text Block Supplement [Abstract]
Trade receivables, net			$ 90.0	$ 95.0
Facility closure	$ 23.2	$ 29.0	23.2	0.0	$ 29.0
Facility closure	(23.2)	$ (29.0)	(23.2)	0.0	(29.0)
Net proceeds from sale of property	$ 44.1
Company headquarters relocation income (expense)			0.0	33.8	0.0
Cost reduction actions			0.0	0.0	25.5
Equity affiliates and joint venture partners
Related Party Transaction [Line Items]
Sales to and other income from related parties			$ 225.0	$ 335.0	$ 410.0

Business Segment and Geographic Information (Schedule of Segment Reporting Information) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Sales	$ 10,323.0	$ 8,856.3	$ 8,918.9
Operating income (loss)	2,281.4	2,237.6	2,144.4
Depreciation and amortization	1,321.3	1,185.0	1,082.8
Equity affiliates' income	294.1	264.8	215.4
Expenditures for long-lived assets	2,464.2	2,509.0	1,989.7
Investment in net assets of and advances to equity affiliates	1,649.3	1,432.2
Total assets	26,859.2	25,168.5
Operating Segments
Segment Reporting Information [Line Items]
Sales	10,323.0	8,856.3	8,918.9
Operating income (loss)	2,267.8	2,203.8	2,169.8
Depreciation and amortization	1,321.3	1,185.0	1,082.8
Equity affiliates' income	294.1	231.0	215.4
Expenditures for long-lived assets	2,464.2	2,509.0	1,989.7
Investment in net assets of and advances to equity affiliates	1,649.3	1,432.2
Total assets	26,859.2	25,168.5
Industrial Gases - Americas \| Operating Segments
Segment Reporting Information [Line Items]
Sales	4,167.6	3,630.7	3,873.5
Operating income (loss)	1,065.5	1,012.4	997.7
Depreciation and amortization	611.9	559.5	505.2
Equity affiliates' income	112.5	84.3	84.8
Expenditures for long-lived assets	909.6	1,264.7	545.8
Investment in net assets of and advances to equity affiliates	383.8	310.9
Total assets	7,092.5	6,610.1
Industrial Gases - EMEA \| Operating Segments
Segment Reporting Information [Line Items]
Sales	2,444.9	1,926.3	2,002.5
Operating income (loss)	557.4	473.3	472.4
Depreciation and amortization	229.8	195.9	189.5
Equity affiliates' income	93.7	74.8	69.0
Expenditures for long-lived assets	371.3	327.6	216.3
Investment in net assets of and advances to equity affiliates	587.4	535.2
Total assets	4,353.2	3,917.0
Industrial Gases - Asia \| Operating Segments
Segment Reporting Information [Line Items]
Sales	2,920.8	2,716.5	2,663.6
Operating income (loss)	838.3	870.3	864.2
Depreciation and amortization	444.4	399.4	361.5
Equity affiliates' income	81.4	61.0	58.4
Expenditures for long-lived assets	792.3	690.3	1,105.5
Investment in net assets of and advances to equity affiliates	608.1	539.7
Total assets	7,627.1	6,842.9
Industrial Gases - Global \| Operating Segments
Segment Reporting Information [Line Items]
Sales	511.0	364.9	261.0
Operating income (loss)	(60.6)	(40.0)	(11.7)
Depreciation and amortization	10.9	9.6	8.6
Equity affiliates' income	6.5	10.9	3.2
Expenditures for long-lived assets	112.6	35.3	33.8
Investment in net assets of and advances to equity affiliates	70.0	46.4
Total assets	648.4	397.8
Corporate and other \| Operating Segments
Segment Reporting Information [Line Items]
Sales	278.7	217.9	118.3
Operating income (loss)	(132.8)	(112.2)	(152.8)
Depreciation and amortization	24.3	20.6	18.0
Equity affiliates' income	0.0	0.0	0.0
Expenditures for long-lived assets	278.4	191.1	$ 88.3
Investment in net assets of and advances to equity affiliates	0.0	0.0
Total assets	$ 7,138.0	$ 7,400.7

Business Segment and Geographic Information (Reconciliation of Operating Income) (Details) - USD ($) $ in Millions		3 Months Ended		12 Months Ended
	May 01, 2019	Mar. 31, 2021	Dec. 31, 2018	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Facility closure		$ (23.2)	$ (29.0)	$ (23.2)	$ 0.0	$ (29.0)
Cost reduction actions				0.0	0.0	(25.5)
Gain on exchange with joint venture partner	$ 29.1			36.8	0.0	29.1
Company headquarters relocation income (expense)				0.0	33.8	0.0
Operating income				2,281.4	2,237.6	2,144.4
Segment Reconciling Items
Segment Reporting Information [Line Items]
Facility closure				(23.2)	0.0	(29.0)
Cost reduction actions				0.0	0.0	(25.5)
Gain on exchange with joint venture partner				36.8	0.0	29.1
Company headquarters relocation income (expense)				0.0	33.8	0.0
Segment Total
Segment Reporting Information [Line Items]
Operating income				$ 2,267.8	$ 2,203.8	$ 2,169.8

Business Segment and Geographic Information (Reconciliation of Equity Affiliates' Income) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
India Finance Act 2020		$ 33.8
Equity affiliates' income	$ 294.1	264.8	$ 215.4
Segment Reconciling Items
Segment Reporting Information [Line Items]
India Finance Act 2020	0.0	33.8	0.0
Segment Total
Segment Reporting Information [Line Items]
Equity affiliates' income	$ 294.1	$ 231.0	$ 215.4

Business Segment and Geographic Information (Schedule of Geographic Information) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales	$ 10,323.0	$ 8,856.3	$ 8,918.9
Long-Lived Assets	13,254.6	11,964.7	10,337.6
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales	3,895.8	3,359.6	3,351.8
Long-Lived Assets	5,187.8	4,633.9	3,721.3
China
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales	1,828.0	1,719.7	1,730.2
Long-Lived Assets	4,137.7	3,719.4	3,302.6
Other foreign operations
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales	4,599.2	3,777.0	3,836.9
Long-Lived Assets	$ 3,929.1	$ 3,611.4	$ 3,313.7

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

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+ Details

Subsequent Events (Details) - USD ($) $ in Millions			1 Months Ended	12 Months Ended
Subsequent Events (Details) - USD ($) $ in Millions	Oct. 27, 2021	Sep. 27, 2021	Sep. 30, 2021	Sep. 30, 2023	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2015
Subsequent Event [Line Items]
Payments for equity investment					$ 76.0	$ 24.4	$ 15.7
Investments by noncontrolling interests					$ 136.6	$ 17.1	$ 0.0
JIGPC
Subsequent Event [Line Items]
Investments by noncontrolling interests			$ 130.0
JIGPC \| Subsequent event
Subsequent Event [Line Items]
Payments for equity investment	$ 1,600.0
Ownership interest percentage	55.00%
Ownership percentage attributable to noncontrolling partner	4.00%
JIGPC \| Forecast
Subsequent Event [Line Items]
Payments for equity investment				$ 1,000.0
JGPC
Subsequent Event [Line Items]
Ownership interest percentage			26.00%		26.00%
JIGPC \| Aramco
Subsequent Event [Line Items]
Definitive agreement for acquisition of assets, value		$ 12,000.0
Term of agreement to commission, operate, and maintain the project assets		25 years
JIGPC \| Aramco \| Subsequent event
Subsequent Event [Line Items]
Acquisition of assets	$ 7,000.0
JGPC \| Aramco
Subsequent Event [Line Items]
Term of oxygen and nitrogen supply agreement								20 years