0000002969-23-000014 | 10-Q | XBRL Viewer | AIR Products Chemicals INC

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Cover	3 Months Ended
Cover	Dec. 31, 2022 shares
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	222,082,851
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% Euro 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% Euro 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 (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Sales	$ 3,174.7	$ 2,994.2
Cost of sales	2,272.3	2,223.6
Selling and administrative expense	234.4	232.8
Research and development expense	24.4	23.3
Other income (expense), net	8.4	8.5
Operating Income	652.0	523.0
Equity affiliates' income	110.0	147.8
Interest expense	41.2	30.5
Other non-operating income (expense), net	(0.6)	22.6
Income Before Taxes	720.2	662.9
Income tax provision	136.4	113.3
Net Income	583.8	549.6
Net income (loss) attributable to noncontrolling interests	11.6	(10.8)
Net income attributable to Air Products	$ 572.2	$ 560.4
Per Share Data
Basic earnings per share attributable to Air Products (in dollars per share)	$ 2.58	$ 2.53
Diluted earnings per share attributable to Air Products (in dollars per share)	$ 2.57	$ 2.52
Weighted Average Common Shares (in millions)
Basic	222.2	221.9
Diluted	222.6	222.6

Consolidated Comprehensive Income Statements (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net Income	$ 583.8	$ 549.6
Other Comprehensive Income (Loss), net of tax
Translation adjustments, net of tax	509.6	40.6
Net gain (loss) on derivatives, net of tax	121.0	(0.5)
Pension and postretirements benefits, net of tax	6.7	0.0
Reclassification adjustments:
Derivatives, net of tax	(68.7)	18.7
Pension and postretirement benefits, net of tax	11.9	16.0
Total Other Comprehensive Income (Loss)	580.5	74.8
Comprehensive Income	1,164.3	624.4
Net Income (Loss) Attributable to Noncontrolling Interest	11.6	(10.8)
Other Comprehensive Income (Loss) Attributable to Noncontrolling Interest	12.7	11.2
Comprehensive Income Attributable to Air Products	$ 1,140.0	$ 624.0

Consolidated Comprehensive Income Statements (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Tax effect on translation adjustments	$ (38.0)	$ 7.6
Tax effect on net gain (loss) on derivatives	38.2	(11.1)
Tax effect on pension and postretirement benefits	2.4	0.0
Tax effect on derivatives reclassification adjustments	(21.7)	6.1
Tax effect on pension and postretirement benefits reclassification adjustments	$ 3.7	$ 5.4

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Dec. 31, 2022	Sep. 30, 2022
Current Assets
Cash and cash items	$ 3,131.0	$ 2,711.0
Short-term investments	19.6	590.7
Trade receivables, net	1,827.2	1,794.4
Inventories	635.3	514.2
Prepaid expenses	165.1	156.8
Other receivables and current assets	542.9	515.8
Total Current Assets	6,321.1	6,282.9
Investment in net assets of and advances to equity affiliates	3,391.5	3,353.8
Plant and equipment, at cost	29,772.3	28,160.1
Less: accumulated depreciation	14,733.1	13,999.6
Plant and equipment, net	15,039.2	14,160.5
Goodwill, net	876.3	823.0
Intangible assets, net	363.1	347.5
Operating lease right-of-use assets, net	754.8	694.8
Noncurrent lease receivables	579.3	583.1
Other noncurrent assets	953.0	947.0
Total Noncurrent Assets	21,957.2	20,909.7
Total Assets	28,278.3	27,192.6
Current Liabilities
Payables and accrued liabilities	2,552.0	2,771.6
Accrued income taxes	159.9	135.2
Short-term borrowings	2.2	10.7
Current portion of long-term debt	562.8	548.3
Total Current Liabilities	3,276.9	3,465.8
Long-term debt	6,834.4	6,433.8
Long-term debt – related party	658.4	652.0
Noncurrent operating lease liabilities	627.4	592.1
Other noncurrent liabilities	1,117.7	1,099.1
Deferred income taxes	1,246.1	1,247.4
Total Noncurrent Liabilities	10,484.0	10,024.4
Total Liabilities	13,760.9	13,490.2
Commitments and Contingencies - See Note 11
Air Products Shareholders’ Equity
Common stock (par value $1 per share; issued 2023 and 2022 - 249,455,584 shares)	249.4	249.4
Capital in excess of par value	1,148.4	1,141.4
Retained earnings	16,731.4	16,520.3
Accumulated other comprehensive loss	(2,218.3)	(2,786.1)
Treasury stock, at cost (2023 - 27,372,733 shares; 2022 - 27,616,888 shares)	(1,975.2)	(1,981.0)
Total Air Products Shareholders’ Equity	13,935.7	13,144.0
Noncontrolling Interests	581.7	558.4
Total Equity	14,517.4	13,702.4
Total Liabilities and Equity	$ 28,278.3	$ 27,192.6

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Dec. 31, 2022	Sep. 30, 2022
Air Products Shareholders’ Equity
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, issued shares	249,455,584	249,455,584
Treasury stock at cost, shares	27,372,733	27,616,888

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Operating Activities
Net Income	$ 583.8	$ 549.6
Less: Net income (loss) attributable to noncontrolling interests	11.6	(10.8)
Net income attributable to Air Products	572.2	560.4
Adjustments to reconcile income to cash provided by operating activities:
Depreciation and amortization	321.5	332.3
Deferred income taxes	13.8	15.7
Distributed (Undistributed) earnings of equity method investments	17.2	(117.3)
Gain on sale of assets and investments	(2.3)	(0.8)
Share-based compensation	16.1	15.8
Noncurrent lease receivables	19.4	21.8
Other adjustments	99.0	(49.4)
Working capital changes that provided (used) cash, excluding effects of acquisitions:
Trade receivables	40.4	(132.7)
Inventories	(102.8)	(33.7)
Other receivables	(6.7)	14.0
Payables and accrued liabilities	(257.6)	167.6
Other working capital	(10.9)	(8.5)
Cash Provided by Operating Activities	719.3	785.2
Investing Activities
Additions to plant and equipment, including long-term deposits	(834.2)	(663.8)
Acquisitions, less cash acquired	0.0	(34.6)
Investment in and advances to unconsolidated affiliates	0.0	(1,632.7)
Proceeds from sale of assets and investments	4.0	1.1
Purchases of investments	(19.2)	(727.4)
Proceeds from investments	591.5	1,331.9
Other investing activities	1.7	6.4
Cash Used for Investing Activities	(256.2)	(1,719.1)
Financing Activities
Long-term debt proceeds	476.3	51.6
Payments on long-term debt	(195.9)	(400.0)
Net (decrease) increase in commercial paper and short-term borrowings	(4.1)	113.1
Dividends paid to shareholders	(359.4)	(332.1)
Proceeds from stock option exercises	14.0	13.3
Other financing activities	(16.5)	(31.0)
Cash Used for Financing Activities	(85.6)	(585.1)
Effect of Exchange Rate Changes on Cash	42.5	3.8
Increase (Decrease) in cash and cash items	420.0	(1,515.2)
Cash and Cash items – Beginning of year	2,711.0	4,468.9
Cash and Cash Items – End of Period	$ 3,131.0	$ 2,953.7

Consolidated Statements of Equity (Unaudited) - USD ($) $ in Millions	Total	Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Air Products Shareholders' Equity	Non-controlling Interests
Beginning balance at Sep. 30, 2021	$ 14,088.0	$ 249.4	$ 1,115.8	$ 15,678.3	$ (1,515.9)	$ (1,987.9)	$ 13,539.7	$ 548.3
Stockholders' Equity [Roll Forward]
Net income	549.6			560.4			560.4	(10.8)
Other comprehensive income (loss)	74.8				63.6		63.6	11.2
Dividends on common stock	(332.6)			(332.6)			(332.6)
Share-based compensation	14.1		14.1				14.1
Issuance of treasury shares for stock option and award plans	(19.4)		(18.1)			(1.3)	(19.4)
Investment by noncontrolling interests	3.6							3.6
Purchase of noncontrolling interests	(1.9)		0.0				0.0	(1.9)
Other equity transactions	(0.6)		0.2	(0.9)			(0.7)	0.1
Ending balance at Dec. 31, 2021	14,375.6	249.4	1,112.0	15,905.2	(1,452.3)	(1,989.2)	13,825.1	550.5
Beginning balance at Sep. 30, 2022	13,702.4	249.4	1,141.4	16,520.3	(2,786.1)	(1,981.0)	13,144.0	558.4
Stockholders' Equity [Roll Forward]
Net income	583.8			572.2			572.2	11.6
Other comprehensive income (loss)	580.5				567.8		567.8	12.7
Dividends on common stock	(359.8)			(359.8)			(359.8)
Dividends to noncontrolling interests	(0.8)							(0.8)
Share-based compensation	14.2		14.2				14.2
Issuance of treasury shares for stock option and award plans	(1.6)		(7.4)			5.8	(1.6)
Other equity transactions	(1.3)		0.2	(1.3)			(1.1)	(0.2)
Ending balance at Dec. 31, 2022	$ 14,517.4	$ 249.4	$ 1,148.4	$ 16,731.4	$ (2,218.3)	$ (1,975.2)	$ 13,935.7	$ 581.7

Consolidated Statements of Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Dividends per share (in dollars per share)	$ 1.62	$ 1.50

Basis of Presentation and Major Accounting Policies	3 Months Ended
Basis of Presentation and Major Accounting Policies	Dec. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation and Major Accounting Policies	BASIS OF PRESENTATION AND MAJOR ACCOUNTING POLICIES Basis of Presentation The interim consolidated financial statements of Air Products and Chemicals, Inc. and its subsidiaries (“we,” “our,” “us,” the “Company,” “Air Products,” or “registrant”) included herein have been prepared by us, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC"). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles ("GAAP") have been condensed or omitted pursuant to such rules and regulations. In our opinion, the accompanying statements reflect adjustments necessary to fairly present the financial position, results of operations, and cash flows for those periods indicated and contain adequate disclosures to make the information presented not misleading. Adjustments included herein are of a normal, recurring nature unless otherwise disclosed in the notes to the interim consolidated financial statements. To fully understand the basis of presentation, the interim consolidated financial statements and related notes included herein should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended 30 September 2022 (the "2022 Form 10-K"), which was filed with the SEC on 22 November 2022. Results of operations for interim periods are not necessarily indicative of the results of operations for a full year. Major Accounting Policies Refer to our 2022 Form 10-K for a description of major accounting policies. There have been no significant changes to these accounting policies during the first three months of fiscal year 2023. Risks and Uncertainties We are subject to various risks and uncertainties, including, but not limited to, those resulting from the COVID-19 pandemic, increased inflationary pressures, and Russia's invasion of Ukraine. Our results of operations for the periods covered by this report were not materially impacted by these events; however, there is uncertainty regarding how these events and others may affect our business, results of operations, and overall financial performance in future periods, including our ability to complete suspended projects. Reclassifications Beginning in the first quarter of fiscal year 2023, we present "Operating lease right-of-use assets, net" and "Noncurrent operating lease liabilities" in separate captions on our consolidated balance sheets. These balances were previously presented within "Other noncurrent assets" and "Other noncurrent liabilities," respectively. Our balance sheet as of 30 September 2022 has been reclassified to conform to the fiscal year 2023 presentation.

New Accounting Guidance	3 Months Ended
New Accounting Guidance	Dec. 31, 2022
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Guidance	NEW ACCOUNTING GUIDANCE New Accounting Guidance to be Implemented Government Assistance In November 2021, the Financial Accounting Standards Board ("FASB") issued disclosure guidance to increase the transparency of transactions an entity has with a government that are accounted for by applying a grant or contribution accounting model. We are evaluating the impact this guidance will have on our annual disclosures to our consolidated financial statements. We will adopt this guidance prospectively in our Annual Report for fiscal year 2023. 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 the London Inter-Bank Offered Rate ("LIBOR"). In December 2022, the FASB extended the date through which the amendments may be applied to impacted contracts and hedges to 31 December 2024. We have had no reference rate reform modifications to date. We will adopt this update on a prospective basis in the event of any such modifications.

- 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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-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(1)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (e)(3)
-URI https://asc.fasb.org/extlink&oid=126983759&loc=SL121830611-158277

+ Details

Revenue Recognition

3 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Revenue Recognition

REVENUE RECOGNITION

The majority of our revenue is generated from our sale of gas customers within the regional industrial gases segments. We distribute gases through either our on-site or merchant supply mode depending on various factors, including the customer's volume requirements and location. We also design and manufacture equipment for air separation, hydrocarbon recovery and purification, natural gas liquefaction, and liquid helium and liquid hydrogen transport and storage. The Corporate and other segment serves our sale of equipment customers.

Disaggregation of Revenue

The table below presents our consolidated sales disaggregated by supply mode for each of our reportable segments for the first quarter of fiscal years 2023 and 2022. We believe this presentation best depicts the nature, timing, type of customer, and contract terms for our sales.


	Three Months Ended 31 December 2022

	Americas	Asia	Europe	Middle East and India	Corporate and other	Total	%

On-site	$845.8	$457.7	$328.1	$18.8	$—	$1,650.4	52	%
Merchant	538.4	320.1	463.8	22.6	—	1,344.9	42	%
Sale of Equipment	—	—	—	—	179.4	179.4	6	%
Total	$1,384.2	$777.8	$791.9	$41.4	$179.4	$3,174.7	100	%

	Three Months Ended 31 December 2021

	Americas	Asia	Europe	Middle East and India	Corporate and other	Total	%

On-site	$797.6	$451.6	$325.6	$16.3	$—	$1,591.1	53	%
Merchant	426.5	328.8	418.6	7.4	—	1,181.3	40	%
Sale of Equipment	—	—	—	—	221.8	221.8	7	%
Total	$1,224.1	$780.4	$744.2	$23.7	$221.8	$2,994.2	100	%

Remaining Performance Obligations

As of 31 December 2022, the transaction price allocated to remaining performance obligations is estimated to be approximately $23 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 the next five years and the balance thereafter.

Our remaining performance obligations do not include (1) expected revenue associated with new on-site plants that are not yet on-stream; (2) consideration associated with contracts that have an expected duration of less than one year; and (3) variable consideration for which we recognize revenue at the amount to which we have the right to invoice, including energy cost pass-through to customers.

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:


		31 December	30 September
	Balance Sheet Location	2022	2022
Assets
Contract assets – current	Other receivables and current assets	$81.9	$69.0
Contract fulfillment costs – current	Other receivables and current assets	103.5	84.1
Liabilities
Contract liabilities – current	Payables and accrued liabilities	$424.6	$439.1
Contract liabilities – noncurrent	Other noncurrent liabilities	97.4	67.2

Changes to our contract balances primarily relate to our sale of equipment contracts. During the three months ended 31 December 2022, we recognized sales of approximately $80 associated with sale of equipment contracts that were included within our contract liabilities as of 30 September 2022.

- 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 https://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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

+ Details

Inventories

3 Months Ended

Dec. 31, 2022

Inventory Disclosure [Abstract]

Inventories

INVENTORIES

The components of inventories are as follows:


	31 December	30 September
	2022	2022
Finished goods	$244.7	$162.0
Work in process	25.1	22.0
Raw materials, supplies, and other	365.5	330.2
Inventories	$635.3	$514.2

Equity Affiliates	3 Months Ended
Equity Affiliates	Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Equity Affiliates	EQUITY AFFILIATES 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 represents a 55% interest in the joint venture, of which 4% is attributable to the noncontrolling partner of Air Products Qudra. The $1.6 billion investment, which includes approximately $130 from the non-controlling partner, is primarily in the form of shareholder loans that qualify as in-substance common stock in the joint venture. We determined JIGPC is a variable interest entity for which we are not the primary beneficiary as we do not have the power to direct the activities that are most significant to the economic performance of the joint venture. Instead, these activities, including plant dispatch, operating and maintenance decisions, budgeting, capital expenditures, and financing, require unanimous approval of the owners or are controlled by the customer. Since we have the ability to exercise significant influence in the joint venture, we accounted for our investment in JIGPC under the equity method within the Middle East and India segment. Certain shareholders receive a preferred cash distribution pursuant to the joint venture agreement, which specifies each shareholder’s share of income after considering the amount of cash available for distribution. As such, the earnings attributable to Air Products may not be proportionate to our ownership interest in the venture. As of 31 December 2022, the carrying value of our investment totaled $1,776.5 and is presented as “Investments in net assets of and advances to equity affiliates” on our consolidated balance sheet. Our loss exposure is limited to our investment in the joint venture. Subsequent Event On 19 January 2023, we made an additional investment of $908 toward the second phase of the project as further discussed below. This investment included $73 received from the noncontrolling partner of Air Products Qudra. We expect to complete a remaining investment of approximately $115, including approximately $9 from the non-controlling partner of Air Products Qudra, later this calendar year. JIGPC Joint Venture On 27 September 2021, JIGPC signed definitive agreements for the acquisition of project assets from Aramco for $12 billion and entered into related project financing for the purchase of the project assets, which include power blocks, gasifiers, air separation units, syngas cleanup assets, and utilities, in two phases. The first phase was completed on 27 October 2021 for $7 billion, and the second phase was completed for $4.15 billion on 19 January 2023. We expect final commissioning items to be completed later this calendar year. 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, which commenced in the first quarter of fiscal year 2022. JIGPC recorded financing receivables upon acquisition of the assets and is 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. 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 profit proportionate to our ownership in the joint venture. With the termination of the supply agreement and sale of the air separation units complete, we recognized the remaining deferred profit, net of other project finalization costs, in equity affiliates’ income in the first quarter of fiscal year 2022.

Goodwill

3 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

GOODWILL

Changes to the carrying amount of consolidated goodwill by segment for the three months ended 31 December 2022 are as follows:


	Americas	Asia	Europe	Middle East and India	Corporate and other	Total
Goodwill, net at 30 September 2022	$143.2	$172.7	$457.5	$15.8	$33.8	$823.0


Currency translation and other	5.6	4.2	43.1	—	0.4	53.3
Goodwill, net at 31 December 2022	$148.8	$176.9	$500.6	$15.8	$34.2	$876.3


	31 December	30 September
	2022	2022
Goodwill, gross	$1,188.1	$1,096.0
Accumulated impairment losses(A)	(311.8)	(273.0)
Goodwill, net	$876.3	$823.0

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

Financial Instruments

3 Months Ended

Dec. 31, 2022

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 31 December 2022 is 3.5 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:


	31 December 2022		30 September 2022
	US$ Notional	Years Average Maturity	US$ Notional	Years Average Maturity
Forward Exchange Contracts:
Cash flow hedges	$4,877.6	0.6	$4,525.0	0.7
Net investment hedges	616.5	1.9	542.2	2.2
Not designated	408.2	0.2	534.3	0.3
Total Forward Exchange Contracts	$5,902.3	0.7	$5,601.5	0.8

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 €1,280.5 million ($1,370.7) at 31 December 2022 and €1,265.4 million ($1,240.4) at 30 September 2022. 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, we manage our debt portfolio and hedging program 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 31 December 2022, 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 the U.S. Dollar and each of the Chinese Renminbi, Indian Rupee, and Chilean Peso.

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


	31 December 2022						30 September 2022
	US$ Notional	Average Pay %		Average Receive %		Years Average Maturity	US$ Notional	Average Pay %		Average Receive %		Years Average Maturity
Interest rate swaps (fair value hedge)	$800.0	Various		1.64	%	4.8	$800.0	Various		1.64	%	5.0
Cross currency interest rate swaps (net investment hedge)	$131.0	3.67	%	2.93	%	1.3	$176.7	4.12	%	3.07	%	1.2
Cross currency interest rate swaps (cash flow hedge)	$741.9	4.82	%	2.92	%	2.2	$785.7	4.78	%	3.05	%	2.3
Cross currency interest rate swaps (not designated)	$39.4	5.39	%	3.54	%	0.9	$37.7	5.39	%	3.54	%	1.2

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
	31 December	30 September	31 December	30 September
Balance Sheet Location	2022	2022	2022	2022

Long-term debt	$2,017.8	$2,012.9	($72.7)	($77.1)

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


	Balance Sheet	31 December	30 September	Balance Sheet	31 December	30 September
	Location	2022	2022	Location	2022	2022
Derivatives Designated as Hedging Instruments:
Forward exchange contracts	Other receivables and current assets	$85.0	$71.6	Payables and accrued liabilities	$79.5	$226.2
Interest rate management contracts	Other receivables and current assets	16.8	36.7	Payables and accrued liabilities	1.5	—
Forward exchange contracts	Other noncurrent assets	26.8	60.8	Other noncurrent liabilities	6.6	46.9
Interest rate management contracts	Other noncurrent assets	8.8	12.5	Other noncurrent liabilities	99.0	91.2
Total Derivatives Designated as Hedging Instruments		$137.4	$181.6		$186.6	$364.3
Derivatives Not Designated as Hedging Instruments:
Forward exchange contracts	Other receivables and current assets	3.1	6.1	Payables and accrued liabilities	2.2	2.1
Interest rate management contracts	Other receivables and current assets	0.5	—	Payables and accrued liabilities	—	—
Forward exchange contracts	Other noncurrent assets	—	0.1	Other noncurrent liabilities	—	0.1
Interest rate management contracts	Other noncurrent assets	—	1.3	Other noncurrent liabilities	—	—
Total Derivatives Not Designated as Hedging Instruments		$3.6	$7.5		$2.2	$2.2
Total Derivatives		$141.0	$189.1		$188.8	$366.5

Refer to Note 8, Fair Value Measurements, which defines fair value, describes the method for measuring fair value, and provides additional disclosures regarding fair value measurements.

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


	Three Months Ended
	31 December
	2022	2021
Net Investment Hedging Relationships
Forward exchange contracts	($47.1)	$14.5
Foreign currency debt	(115.3)	27.6
Cross currency interest rate swaps	(10.6)	(2.3)
Total Amount Recognized in OCI	(173.0)	39.8
Tax effects	42.5	(9.8)
Net Amount Recognized in OCI	($130.5)	$30.0


	Three Months Ended
	31 December
	2022	2021
Derivatives in Cash Flow Hedging Relationships
Forward exchange contracts	$188.8	($23.4)
Forward exchange contracts, excluded components	(5.6)	(2.7)
Other(A)	(24.0)	14.5
Total Amount Recognized in OCI	159.2	(11.6)
Tax effects	(38.2)	11.1
Net Amount Recognized in OCI	$121.0	($0.5)

(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:


	Three Months Ended 31 December
	Sales		Cost of Sales		Interest Expense			Other Non-Operating Income (Expense), Net
	2022	2021	2022	2021		2022	2021		2022	2021
Total presented in consolidated income statements that includes effects of hedging below	$3,174.7	$2,994.2	$2,272.3	$2,223.6		$41.2	$30.5		($0.6)	$22.6

(Gain) Loss Effects of Cash Flow Hedging:

Forward Exchange Contracts:
Amount reclassified from OCI into income	$—	$0.4	$1.2	($0.1)		$—	$—		($117.8)	$14.5

Amount excluded from effectiveness testing recognized in earnings based on amortization approach	—	—	—	—		—	—		2.0	1.3
Other:
Amount reclassified from OCI into income	—	—	—	—		1.5	1.4		22.7	7.3

Total (Gain) Loss Reclassified from OCI to Income	—	0.4	1.2	(0.1)		1.5	1.4		(93.1)	23.1
Tax effects	—	(0.1)	(0.2)	—		(0.5)	(0.5)		22.4	(5.5)
Net (Gain) Loss Reclassified from OCI to Income	$—	$0.3	$1.0	($0.1)		$1.0	$0.9		($70.7)	$17.6

(Gain) Loss Effects of Fair Value Hedging:

Other:
Hedged items	$—	$—	$—	$—		$4.4	($2.5)		$—	$—
Derivatives designated as hedging instruments	—	—	—	—		(4.4)	2.5		—	—
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:


	Three Months Ended 31 December
	Other Income (Expense), Net		Other Non-Operating Income (Expense), Net
	2022	2021	2022	2021
The Effects of Derivatives Not Designated as Hedging Instruments:
Forward Exchange Contracts	$0.6	$1.1	($1.6)	($0.6)
Other	—	—	1.1	0.1
Total (Gain) Loss Recognized in Income	$0.6	$1.1	($0.5)	($0.5)

The amount of unrealized gains and losses related to cash flow hedges as of 31 December 2022 that are expected to be reclassified to earnings in the next twelve months is not material.

The cash flows related to derivative contracts are generally 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 $105.0 and $114.8 as of 31 December 2022 and 30 September 2022, 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 $36.3 and $62.8 as of 31 December 2022 and 30 September 2022, respectively. No financial institution is required to post collateral at this time as all have credit ratings at or above threshold.

Fair Value Measurements

3 Months Ended

Dec. 31, 2022

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 7, 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:


	31 December 2022		30 September 2022
	Carrying Value	Fair Value	Carrying Value	Fair Value
Assets
Derivatives
Forward exchange contracts	$114.9	$114.9	$138.6	$138.6
Interest rate management contracts	26.1	26.1	50.5	50.5
Liabilities
Derivatives
Forward exchange contracts	$88.3	$88.3	$275.3	$275.3
Interest rate management contracts	100.5	100.5	91.2	91.2
Long-term debt, including current portion and related party	8,055.6	7,227.2	7,634.1	6,721.2

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

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


	31 December 2022				30 September 2022
	Total	Level 1	Level 2	Level 3	Total	Level 1	Level 2	Level 3
Assets at Fair Value



Derivatives
Forward exchange contracts	$114.9	$—	$114.9	$—	$138.6	$—	$138.6	$—
Interest rate management contracts	26.1	—	26.1	—	50.5	—	50.5	—
Total Assets at Fair Value	$141.0	$—	$141.0	$—	$189.1	$—	$189.1	$—
Liabilities at Fair Value
Derivatives
Forward exchange contracts	$88.3	$—	$88.3	$—	$275.3	$—	$275.3	$—
Interest rate management contracts	100.5	—	100.5	—	91.2	—	91.2	—
Total Liabilities at Fair Value	$188.8	$—	$188.8	$—	$366.5	$—	$366.5	$—

- 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	3 Months Ended
Debt	Dec. 31, 2022
Debt Disclosure [Abstract]
Debt	DEBT Related Party Debt Total debt owed to related parties was $791.5 and $781.0 as of 31 December 2022 and 30 September 2022, respectively, of which $133.1 and $129.0, respectively, was reflected within "Current portion of long-term debt" on our consolidated balance sheets. Our related party debt includes loans with joint venture partners, including Lu’An Clean Energy Company, as well as shareholder loans associated with the NEOM project. Refer to Note 16, Supplemental Information, for additional information. Other We have credit facilities available to certain of our foreign subsidiaries totaling $1,319.5, of which $751.9 was borrowed and outstanding as of 31 December 2022. The amount borrowed and outstanding as of 30 September 2022 was $457.5. The increase from 30 September 2022 was driven by borrowings on a new variable-rate Saudi Riyal loan facility that matures in October 2026. The interest rate on the facility is based on the Saudi Arabian Interbank Offered Rate ("SAIBOR") plus an annual margin of 1.35%. We entered into this facility in October 2022 and utilized a portion of the proceeds to repay a variable-rate 4.10% Saudi Riyal Loan Facility of $195.6, which was presented within long-term debt on our consolidated balance sheet as of 30 September 2022.

- 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

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+ Details

Retirement Benefits

3 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Retirement Benefits

RETIREMENT BENEFITS

The components of net periodic (benefit) cost for our defined benefit pension plans for the three months ended 31 December 2022 and 2021 were as follows:


	Pension Benefits
	2022			2021
Three Months Ended 31 December	U.S.	Inter-national	Total	U.S.	Inter-national	Total
Service cost	$2.7	$3.3	$6.0	$4.6	$5.6	$10.2
Non-service (benefit) cost:
Interest cost	32.5	14.4	46.9	18.4	7.6	26.0
Expected return on plan assets	(31.8)	(11.8)	(43.6)	(42.1)	(17.7)	(59.8)
Prior service cost amortization	0.3	—	0.3	0.3	—	0.3
Actuarial loss amortization	14.8	3.0	17.8	16.7	3.9	20.6

Settlements	—	—	—	0.9	—	0.9
Curtailments	—	(1.9)	(1.9)	—	—	—

Other	—	0.3	0.3	—	0.8	0.8
Net Periodic (Benefit) Cost	$18.5	$7.3	$25.8	($1.2)	$0.2	($1.0)

Our service costs are primarily included within "Cost of sales" and "Selling and administrative expense" on our consolidated income statements. The amount of service costs capitalized in the first three months of fiscal years 2023 and 2022 were not material. The non-service related impacts, including pension settlement losses and curtailment gains, are presented outside operating income within "Other non-operating income (expense), net."

For the three months ended 31 December 2022 and 2021, our cash contributions to funded pension plans and benefit payments under unfunded pension plans were $8.0 and $9.1, respectively. Total contributions for fiscal year 2023 are expected to be approximately $25 to $35. During fiscal year 2022, total contributions were $44.7.

In December 2022, we amended an international defined benefit pension plan to move its participants to a defined contribution plan for future benefit accumulation. As a result of this amendment, we recognized a $1.9 curtailment gain for the write-off of prior service credits and remeasured the projected benefit obligations of the plan. This resulted in a net decrease to our projected benefit obligation and accumulated other comprehensive loss of $9.1 in the first quarter of fiscal year 2023. The impact of the remeasurement on 2023 expense is not material.

During the three months ended 31 December 2022 and 2021, we recognized actuarial gain amortization of $0.6 and $0.4 respectively, for our other postretirement benefits plan.

- Definition

The entire disclosure for retirement benefits.

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+ Details

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Dec. 31, 2022
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 $34 at 31 December 2022) 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 $34 at 31 December 2022) 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 remain in litigation of a dispute regarding energy management services related to the impact 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 30 sites on which a final settlement or remediation has not been achieved where we, usually 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 31 December 2022 and 30 September 2022 included an accrual of $70.4 and $71.3, 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 $70 to a reasonably possible upper exposure of $83 as of 31 December 2022. 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 31 December 2022, $37.9 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 have been no significant changes to the estimated exposure range related to the Pace facility since the second quarter of fiscal year 2020. 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 completed additional field work during 2021 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. The design of the optimized recovery system will likely be initiated in fiscal year 2023 with construction to begin thereafter. 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. Piedmont At 31 December 2022, $7.1 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 31 December 2022, $10.7 of the environmental accrual was related to the Pasadena site. During the fourth quarter of 2012, management committed to permanently shutting down our polyurethane intermediates ("PUI") production facility in Pasadena, Texas. In shutting down and dismantling the facility, we have undertaken certain obligations related to soil and groundwater contaminants. We have been pumping and treating groundwater to control off-site contaminant migration in compliance with regulatory requirements and under the approval of the Texas Commission on Environmental Quality ("TCEQ"). We estimate that the pump and treat system will continue to operate until 2042. We continue 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, continuing post closure care for two closed RCRA surface impoundment units, and maintaining engineering controls. Additionally, we have conducted an interim corrective action to treat impacted soils as recommended in the TCEQ 2019 Annual Report. In 2012, we estimated the total exposure at this site to be $13. There have been no significant changes to the estimated exposure.

Share-Based Compensation

3 Months Ended

Dec. 31, 2022

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 three months ended 31 December 2022, we granted market-based and time-based deferred stock units. Under all programs, the terms of the awards are fixed at the grant date. We issue shares from treasury stock upon the payout of deferred stock units and the exercise of stock options. As of 31 December 2022, there were 1.2 million shares available for future grant under our Long-Term Incentive Plan ("LTIP").

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


	Three Months Ended
	31 December
	2022	2021
Before-tax share-based compensation cost	$16.9	$16.8
Income tax benefit	(4.1)	(4.1)
After-tax share-based compensation cost	$12.8	$12.7

Before-tax share-based compensation cost is primarily included in "Selling and administrative expense" on our consolidated income statements. The amount of share-based compensation cost capitalized in the first three months of fiscal years 2023 and 2022 was not material.

Deferred Stock Units

During the three months ended 31 December 2022, we granted 85,612 market-based deferred stock units. The market-based deferred stock units are earned over the performance period beginning 1 October 2022 and ending 30 September 2025, conditioned on the level of our total shareholder return in relation to a defined peer group over the three-year performance period.

The market-based deferred stock units had an estimated grant-date fair value of $502.03 per unit, which was estimated using a Monte Carlo simulation model. The model utilizes multiple input variables that determine the probability of satisfying the market condition stipulated in the grant and calculates the fair value of the awards. We generally expense the grant-date fair value of these awards on a straight-line basis over the vesting period. The calculation of the fair value of market-based deferred stock units used the following assumptions:


Expected volatility	32.5	%
Risk-free interest rate	4.0	%
Expected dividend yield	2.4	%

In addition, during the three months ended 31 December 2022, we granted 107,621 time-based deferred stock units at a weighted average grant-date fair value of $310.79.

Accumulated Other Comprehensive Loss

3 Months Ended

Dec. 31, 2022

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 for the three months ended 31 December 2022:



	Derivatives qualifying as hedges	Foreign currency translation adjustments	Pension and postretirement benefits	Total
Balance at 30 September 2022	($71.9)	($2,072.4)	($641.8)	($2,786.1)
Other comprehensive income before reclassifications	121.0	509.6	6.7	637.3
Amounts reclassified from AOCL	(68.7)	—	11.9	(56.8)
Net current period other comprehensive income	52.3	509.6	18.6	580.5

Amount attributable to noncontrolling interests	(0.6)	13.2	0.1	12.7
Balance at 31 December 2022	($19.0)	($1,576.0)	($623.3)	($2,218.3)

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


	Three Months Ended
	31 December
	2022	2021
(Gain) Loss on Cash Flow Hedges, net of tax
Sales	$—	$0.3
Cost of sales	1.0	(0.1)

Interest expense	1.0	0.9
Other non-operating income (expense), net	(70.7)	17.6
Total (Gain) Loss on Cash Flow Hedges, net of tax	($68.7)	$18.7











Pension and Postretirement Benefits, net of tax(A)	$11.9	$16.0

(A)The components of net periodic benefit cost reclassified out of AOCL include items such as prior service cost amortization, actuarial loss amortization, settlements, and curtailments and are included in “Other non-operating income (expense), net” on the consolidated income statements. Refer to Note 10, Retirement Benefits, for additional information.

Earnings Per Share

3 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS PER SHARE

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


	Three Months Ended
	31 December
	2022	2021
Numerator


Net income attributable to Air Products	$572.2	$560.4

Denominator (in millions)
Weighted average common shares — Basic	222.2	221.9
Effect of dilutive securities
Employee stock option and other award plans	0.4	0.7
Weighted average common shares — Diluted	222.6	222.6

Per Share Data (U.S. Dollars per share)


Basic EPS attributable to Air Products	$2.58	$2.53



Diluted EPS attributable to Air Products	$2.57	$2.52

Outstanding share-based awards of 0.1 million shares were antidilutive and therefore excluded from the computation of diluted earnings per share for the three months ended 31 December 2022. For the three months ended 31 December 2021, there were no antidilutive outstanding share-based awards.

Income Taxes	3 Months Ended
Income Taxes	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES Effective Tax Rate Our effective tax rate was 18.9% and 17.1% for the three months ended 31 December 2022 and 2021, respectively. Cash Paid for Taxes (Net of Cash Refunds) Income tax payments, net of refunds, were $88.5 and $50.3 for the three months ended 31 December 2022 and 2021, respectively.

- 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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-Paragraph 2
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+ Details

Supplemental Information

3 Months Ended

Dec. 31, 2022

Disclosure Text Block Supplement [Abstract]

Supplemental Information

SUPPLEMENTAL INFORMATION

NEOM Green Hydrogen Project

In the fourth quarter of fiscal year 2020, we announced the NEOM Green Hydrogen Project (the "NEOM project”), a multi-billion dollar green hydrogen-based ammonia production facility powered by renewable energy located in the NEOM city of the Kingdom of Saudi Arabia. We, along with our joint venture partners, ACWA Power and NEOM Company, are equal owners in the newly formed NEOM Green Hydrogen Company joint venture (“NGHC”) that will develop, construct, own, operate, and finance the NEOM project. The NEOM project is expected to be financed through non-recourse project financing and the partners’ investments.

During the third quarter of fiscal year 2022, we entered into an agreement with NGHC under which we commenced construction of the NEOM project. In addition, we executed an agreement with NGHC under which we will be the exclusive offtaker of green ammonia produced by the NEOM project under a long-term take-if-tendered agreement. The NEOM project is expected to be on-stream in 2026. We intend to transport green ammonia around the world to be dissociated to produce green hydrogen, primarily for the transportation market.

Air Products has one-third of the voting interests in the NGHC joint venture; however, substantially all the activities of the joint venture involve or are conducted on behalf of Air Products. Since we have disproportionately few voting rights relative to our economic interests in the joint venture, we determined that NGHC is a variable interest entity. In addition, we determined that we are the primary beneficiary of NGHC since we have the power to unilaterally direct certain significant activities, including key design and construction decisions, and we share power with our joint venture partners related to other activities that are significant to the economic performance of NGHC. Therefore, we consolidated NGHC within the Middle East and India segment beginning in the third quarter of fiscal year 2022.

Our consolidated balance sheets include the following balances from the consolidation of NGHC:


	31 December	30 September
	2022	2022
Cash and cash items	$224	$275
Other receivables and current assets	29	23
Plant and equipment, net	332	219
Payables and accrued liabilities	68	58
Long-term debt – related party	447	447
Noncontrolling interests	31	30

Related Party Transactions

We have related party 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 $80 for each of the three months ended 31 December 2022 and 2021. 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 31 December 2022 and 30 September 2022, our consolidated balance sheets included related party trade receivables of approximately $110 and $55, respectively.

Refer to Note 9, Debt, for information concerning debt owed to related parties.

Changes in Estimates

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. We recorded changes to project cost estimates that unfavorably impacted operating income by approximately $25 in the first three months of fiscal year 2023. The impact of changes in estimates in the first three months of fiscal year 2022 was not material.

Lessee Accounting

During the three months ended 31 December 2022, we recorded noncash right-of-use asset additions of approximately $51, primarily for operating leases that had not yet commenced as of 30 September 2022.

Business Segment Information

3 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Business Segment Information

BUSINESS SEGMENT INFORMATION

Our reportable segments reflect the manner in which our chief operating decision maker assesses performance and allocates resources. Our reportable segments are as follows:

•Americas;

•Asia;

•Europe;

•Middle East and India; and

•Corporate and other

Except for the Corporate and other segment, each reportable segment meets the definition of an operating segment and does not include the aggregation of multiple operating segments. Our Corporate and other segment includes the aggregation of three operating segments that meet the aggregation criteria under GAAP.

Summary by Business Segment


	Americas	Asia	Europe	Middle East and India	Corporate and other	Total
Three Months Ended 31 December 2022
Sales	$1,384.2	$777.8	$791.9	$41.4	$179.4	$3,174.7	(A)
Operating income (loss)	343.0	235.9	145.8	6.7	(79.4)	652.0
Depreciation and amortization	156.0	101.9	44.3	6.6	12.7	321.5
Equity affiliates' income	16.4	7.4	17.7	64.1	4.4	110.0
Three Months Ended 31 December 2021
Sales	$1,224.1	$780.4	$744.2	$23.7	$221.8	$2,994.2	(A)
Operating income (loss)	267.2	221.1	99.2	4.8	(69.3)	523.0
Depreciation and amortization	155.3	110.8	49.8	6.1	10.3	332.3
Equity affiliates' income	34.2	6.6	13.9	92.3	0.8	147.8















Total Assets
31 December 2022	$8,515.0	$7,439.3	$3,908.1	$3,154.2	$5,261.7	$28,278.3
30 September 2022	8,237.7	6,968.7	3,645.1	2,980.7	5,360.4	27,192.6

(A)Sales relate to external customers only. All intersegment sales are eliminated in consolidation.

- 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

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+ Details

Basis of Presentation and Major Accounting Policies (Policies)	3 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The interim consolidated financial statements of Air Products and Chemicals, Inc. and its subsidiaries (“we,” “our,” “us,” the “Company,” “Air Products,” or “registrant”) included herein have been prepared by us, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC"). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles ("GAAP") have been condensed or omitted pursuant to such rules and regulations. In our opinion, the accompanying statements reflect adjustments necessary to fairly present the financial position, results of operations, and cash flows for those periods indicated and contain adequate disclosures to make the information presented not misleading. Adjustments included herein are of a normal, recurring nature unless otherwise disclosed in the notes to the interim consolidated financial statements. To fully understand the basis of presentation, the interim consolidated financial statements and related notes included herein should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended 30 September 2022 (the "2022 Form 10-K"), which was filed with the SEC on 22 November 2022. Results of operations for interim periods are not necessarily indicative of the results of operations for a full year.
Reclassifications	Reclassifications Beginning in the first quarter of fiscal year 2023, we present "Operating lease right-of-use assets, net" and "Noncurrent operating lease liabilities" in separate captions on our consolidated balance sheets. These balances were previously presented within "Other noncurrent assets" and "Other noncurrent liabilities," respectively. Our balance sheet as of 30 September 2022 has been reclassified to conform to the fiscal year 2023 presentation.

Revenue Recognition (Tables)

3 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Schedule of Consolidated Sales Disaggregated by Supply Mode


	Three Months Ended 31 December 2022

	Americas	Asia	Europe	Middle East and India	Corporate and other	Total	%

On-site	$845.8	$457.7	$328.1	$18.8	$—	$1,650.4	52	%
Merchant	538.4	320.1	463.8	22.6	—	1,344.9	42	%
Sale of Equipment	—	—	—	—	179.4	179.4	6	%
Total	$1,384.2	$777.8	$791.9	$41.4	$179.4	$3,174.7	100	%

	Three Months Ended 31 December 2021

	Americas	Asia	Europe	Middle East and India	Corporate and other	Total	%

On-site	$797.6	$451.6	$325.6	$16.3	$—	$1,591.1	53	%
Merchant	426.5	328.8	418.6	7.4	—	1,181.3	40	%
Sale of Equipment	—	—	—	—	221.8	221.8	7	%
Total	$1,224.1	$780.4	$744.2	$23.7	$221.8	$2,994.2	100	%

Schedule of Contract Assets and Liabilities

The table below details balances arising from contracts with customers:


		31 December	30 September
	Balance Sheet Location	2022	2022
Assets
Contract assets – current	Other receivables and current assets	$81.9	$69.0
Contract fulfillment costs – current	Other receivables and current assets	103.5	84.1
Liabilities
Contract liabilities – current	Payables and accrued liabilities	$424.6	$439.1
Contract liabilities – noncurrent	Other noncurrent liabilities	97.4	67.2

Inventories (Tables)

3 Months Ended

Dec. 31, 2022

Inventory Disclosure [Abstract]

Schedule of Inventory

The components of inventories are as follows:


	31 December	30 September
	2022	2022
Finished goods	$244.7	$162.0
Work in process	25.1	22.0
Raw materials, supplies, and other	365.5	330.2
Inventories	$635.3	$514.2

Goodwill (Tables)

3 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

Changes to the carrying amount of consolidated goodwill by segment for the three months ended 31 December 2022 are as follows:


	Americas	Asia	Europe	Middle East and India	Corporate and other	Total
Goodwill, net at 30 September 2022	$143.2	$172.7	$457.5	$15.8	$33.8	$823.0


Currency translation and other	5.6	4.2	43.1	—	0.4	53.3
Goodwill, net at 31 December 2022	$148.8	$176.9	$500.6	$15.8	$34.2	$876.3


	31 December	30 September
	2022	2022
Goodwill, gross	$1,188.1	$1,096.0
Accumulated impairment losses(A)	(311.8)	(273.0)
Goodwill, net	$876.3	$823.0

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

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

Financial Instruments (Tables)

3 Months Ended

Dec. 31, 2022

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:


	31 December 2022		30 September 2022
	US$ Notional	Years Average Maturity	US$ Notional	Years Average Maturity
Forward Exchange Contracts:
Cash flow hedges	$4,877.6	0.6	$4,525.0	0.7
Net investment hedges	616.5	1.9	542.2	2.2
Not designated	408.2	0.2	534.3	0.3
Total Forward Exchange Contracts	$5,902.3	0.7	$5,601.5	0.8

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


	31 December 2022						30 September 2022
	US$ Notional	Average Pay %		Average Receive %		Years Average Maturity	US$ Notional	Average Pay %		Average Receive %		Years Average Maturity
Interest rate swaps (fair value hedge)	$800.0	Various		1.64	%	4.8	$800.0	Various		1.64	%	5.0
Cross currency interest rate swaps (net investment hedge)	$131.0	3.67	%	2.93	%	1.3	$176.7	4.12	%	3.07	%	1.2
Cross currency interest rate swaps (cash flow hedge)	$741.9	4.82	%	2.92	%	2.2	$785.7	4.78	%	3.05	%	2.3
Cross currency interest rate swaps (not designated)	$39.4	5.39	%	3.54	%	0.9	$37.7	5.39	%	3.54	%	1.2

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
	31 December	30 September	31 December	30 September
Balance Sheet Location	2022	2022	2022	2022

Long-term debt	$2,017.8	$2,012.9	($72.7)	($77.1)

Schedule of Fair Value and Balance Sheet Location of Derivative Instruments

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


	Balance Sheet	31 December	30 September	Balance Sheet	31 December	30 September
	Location	2022	2022	Location	2022	2022
Derivatives Designated as Hedging Instruments:
Forward exchange contracts	Other receivables and current assets	$85.0	$71.6	Payables and accrued liabilities	$79.5	$226.2
Interest rate management contracts	Other receivables and current assets	16.8	36.7	Payables and accrued liabilities	1.5	—
Forward exchange contracts	Other noncurrent assets	26.8	60.8	Other noncurrent liabilities	6.6	46.9
Interest rate management contracts	Other noncurrent assets	8.8	12.5	Other noncurrent liabilities	99.0	91.2
Total Derivatives Designated as Hedging Instruments		$137.4	$181.6		$186.6	$364.3
Derivatives Not Designated as Hedging Instruments:
Forward exchange contracts	Other receivables and current assets	3.1	6.1	Payables and accrued liabilities	2.2	2.1
Interest rate management contracts	Other receivables and current assets	0.5	—	Payables and accrued liabilities	—	—
Forward exchange contracts	Other noncurrent assets	—	0.1	Other noncurrent liabilities	—	0.1
Interest rate management contracts	Other noncurrent assets	—	1.3	Other noncurrent liabilities	—	—
Total Derivatives Not Designated as Hedging Instruments		$3.6	$7.5		$2.2	$2.2
Total Derivatives		$141.0	$189.1		$188.8	$366.5

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

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


	Three Months Ended
	31 December
	2022	2021
Net Investment Hedging Relationships
Forward exchange contracts	($47.1)	$14.5
Foreign currency debt	(115.3)	27.6
Cross currency interest rate swaps	(10.6)	(2.3)
Total Amount Recognized in OCI	(173.0)	39.8
Tax effects	42.5	(9.8)
Net Amount Recognized in OCI	($130.5)	$30.0


	Three Months Ended
	31 December
	2022	2021
Derivatives in Cash Flow Hedging Relationships
Forward exchange contracts	$188.8	($23.4)
Forward exchange contracts, excluded components	(5.6)	(2.7)
Other(A)	(24.0)	14.5
Total Amount Recognized in OCI	159.2	(11.6)
Tax effects	(38.2)	11.1
Net Amount Recognized in OCI	$121.0	($0.5)

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:


	Three Months Ended 31 December
	Sales		Cost of Sales		Interest Expense			Other Non-Operating Income (Expense), Net
	2022	2021	2022	2021		2022	2021		2022	2021
Total presented in consolidated income statements that includes effects of hedging below	$3,174.7	$2,994.2	$2,272.3	$2,223.6		$41.2	$30.5		($0.6)	$22.6

(Gain) Loss Effects of Cash Flow Hedging:

Forward Exchange Contracts:
Amount reclassified from OCI into income	$—	$0.4	$1.2	($0.1)		$—	$—		($117.8)	$14.5

Amount excluded from effectiveness testing recognized in earnings based on amortization approach	—	—	—	—		—	—		2.0	1.3
Other:
Amount reclassified from OCI into income	—	—	—	—		1.5	1.4		22.7	7.3

Total (Gain) Loss Reclassified from OCI to Income	—	0.4	1.2	(0.1)		1.5	1.4		(93.1)	23.1
Tax effects	—	(0.1)	(0.2)	—		(0.5)	(0.5)		22.4	(5.5)
Net (Gain) Loss Reclassified from OCI to Income	$—	$0.3	$1.0	($0.1)		$1.0	$0.9		($70.7)	$17.6

(Gain) Loss Effects of Fair Value Hedging:

Other:
Hedged items	$—	$—	$—	$—		$4.4	($2.5)		$—	$—
Derivatives designated as hedging instruments	—	—	—	—		(4.4)	2.5		—	—
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:


	Three Months Ended 31 December
	Other Income (Expense), Net		Other Non-Operating Income (Expense), Net
	2022	2021	2022	2021
The Effects of Derivatives Not Designated as Hedging Instruments:
Forward Exchange Contracts	$0.6	$1.1	($1.6)	($0.6)
Other	—	—	1.1	0.1
Total (Gain) Loss Recognized in Income	$0.6	$1.1	($0.5)	($0.5)

Fair Value Measurements (Tables)

3 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Carrying Value and Fair Value of Financial Instruments

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


	31 December 2022		30 September 2022
	Carrying Value	Fair Value	Carrying Value	Fair Value
Assets
Derivatives
Forward exchange contracts	$114.9	$114.9	$138.6	$138.6
Interest rate management contracts	26.1	26.1	50.5	50.5
Liabilities
Derivatives
Forward exchange contracts	$88.3	$88.3	$275.3	$275.3
Interest rate management contracts	100.5	100.5	91.2	91.2
Long-term debt, including current portion and related party	8,055.6	7,227.2	7,634.1	6,721.2

Schedule of Fair Value Assets and Liabilities Measured On Recurring Basis

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


	31 December 2022				30 September 2022
	Total	Level 1	Level 2	Level 3	Total	Level 1	Level 2	Level 3
Assets at Fair Value



Derivatives
Forward exchange contracts	$114.9	$—	$114.9	$—	$138.6	$—	$138.6	$—
Interest rate management contracts	26.1	—	26.1	—	50.5	—	50.5	—
Total Assets at Fair Value	$141.0	$—	$141.0	$—	$189.1	$—	$189.1	$—
Liabilities at Fair Value
Derivatives
Forward exchange contracts	$88.3	$—	$88.3	$—	$275.3	$—	$275.3	$—
Interest rate management contracts	100.5	—	100.5	—	91.2	—	91.2	—
Total Liabilities at Fair Value	$188.8	$—	$188.8	$—	$366.5	$—	$366.5	$—

Retirement Benefits (Tables)

3 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Schedule of Net Periodic Benefit Cost

The components of net periodic (benefit) cost for our defined benefit pension plans for the three months ended 31 December 2022 and 2021 were as follows:


	Pension Benefits
	2022			2021
Three Months Ended 31 December	U.S.	Inter-national	Total	U.S.	Inter-national	Total
Service cost	$2.7	$3.3	$6.0	$4.6	$5.6	$10.2
Non-service (benefit) cost:
Interest cost	32.5	14.4	46.9	18.4	7.6	26.0
Expected return on plan assets	(31.8)	(11.8)	(43.6)	(42.1)	(17.7)	(59.8)
Prior service cost amortization	0.3	—	0.3	0.3	—	0.3
Actuarial loss amortization	14.8	3.0	17.8	16.7	3.9	20.6

Settlements	—	—	—	0.9	—	0.9
Curtailments	—	(1.9)	(1.9)	—	—	—

Other	—	0.3	0.3	—	0.8	0.8
Net Periodic (Benefit) Cost	$18.5	$7.3	$25.8	($1.2)	$0.2	($1.0)

Share-Based Compensation (Tables)

3 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Recognized Share-Based Compensation Cost

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


	Three Months Ended
	31 December
	2022	2021
Before-tax share-based compensation cost	$16.9	$16.8
Income tax benefit	(4.1)	(4.1)
After-tax share-based compensation cost	$12.8	$12.7

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

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


Expected volatility	32.5	%
Risk-free interest rate	4.0	%
Expected dividend yield	2.4	%

Accumulated Other Comprehensive Loss (Tables)

3 Months Ended

Dec. 31, 2022

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 for the three months ended 31 December 2022:



	Derivatives qualifying as hedges	Foreign currency translation adjustments	Pension and postretirement benefits	Total
Balance at 30 September 2022	($71.9)	($2,072.4)	($641.8)	($2,786.1)
Other comprehensive income before reclassifications	121.0	509.6	6.7	637.3
Amounts reclassified from AOCL	(68.7)	—	11.9	(56.8)
Net current period other comprehensive income	52.3	509.6	18.6	580.5

Amount attributable to noncontrolling interests	(0.6)	13.2	0.1	12.7
Balance at 31 December 2022	($19.0)	($1,576.0)	($623.3)	($2,218.3)

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

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


	Three Months Ended
	31 December
	2022	2021
(Gain) Loss on Cash Flow Hedges, net of tax
Sales	$—	$0.3
Cost of sales	1.0	(0.1)

Interest expense	1.0	0.9
Other non-operating income (expense), net	(70.7)	17.6
Total (Gain) Loss on Cash Flow Hedges, net of tax	($68.7)	$18.7











Pension and Postretirement Benefits, net of tax(A)	$11.9	$16.0

Earnings Per Share (Tables)

3 Months Ended

Dec. 31, 2022

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"):


	Three Months Ended
	31 December
	2022	2021
Numerator


Net income attributable to Air Products	$572.2	$560.4

Denominator (in millions)
Weighted average common shares — Basic	222.2	221.9
Effect of dilutive securities
Employee stock option and other award plans	0.4	0.7
Weighted average common shares — Diluted	222.6	222.6

Per Share Data (U.S. Dollars per share)


Basic EPS attributable to Air Products	$2.58	$2.53



Diluted EPS attributable to Air Products	$2.57	$2.52

Business Segment Information (Tables)

3 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Summary by Business Segment


	Americas	Asia	Europe	Middle East and India	Corporate and other	Total
Three Months Ended 31 December 2022
Sales	$1,384.2	$777.8	$791.9	$41.4	$179.4	$3,174.7	(A)
Operating income (loss)	343.0	235.9	145.8	6.7	(79.4)	652.0
Depreciation and amortization	156.0	101.9	44.3	6.6	12.7	321.5
Equity affiliates' income	16.4	7.4	17.7	64.1	4.4	110.0
Three Months Ended 31 December 2021
Sales	$1,224.1	$780.4	$744.2	$23.7	$221.8	$2,994.2	(A)
Operating income (loss)	267.2	221.1	99.2	4.8	(69.3)	523.0
Depreciation and amortization	155.3	110.8	49.8	6.1	10.3	332.3
Equity affiliates' income	34.2	6.6	13.9	92.3	0.8	147.8















Total Assets
31 December 2022	$8,515.0	$7,439.3	$3,908.1	$3,154.2	$5,261.7	$28,278.3
30 September 2022	8,237.7	6,968.7	3,645.1	2,980.7	5,360.4	27,192.6

(A)Sales relate to external customers only. All intersegment sales are eliminated in consolidation.

Revenue Recognition (Disaggregation of Revenue) (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Sales	$ 3,174.7	$ 2,994.2
Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 3,174.7	$ 2,994.2
Percent sales by supply mode	100.00%	100.00%
Americas \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 1,384.2	$ 1,224.1
Asia \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	777.8	780.4
Europe \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	791.9	744.2
Middle East and India \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	41.4	23.7
Corporate and other \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	179.4	221.8
On-site \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 1,650.4	$ 1,591.1
Percent sales by supply mode	52.00%	53.00%
On-site \| Americas \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 845.8	$ 797.6
On-site \| Asia \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	457.7	451.6
On-site \| Europe \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	328.1	325.6
On-site \| Middle East and India \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	18.8	16.3
On-site \| Corporate and other \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	0.0	0.0
Merchant \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 1,344.9	$ 1,181.3
Percent sales by supply mode	42.00%	40.00%
Merchant \| Americas \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 538.4	$ 426.5
Merchant \| Asia \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	320.1	328.8
Merchant \| Europe \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	463.8	418.6
Merchant \| Middle East and India \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	22.6	7.4
Merchant \| Corporate and other \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	0.0	0.0
Sale of Equipment \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 179.4	$ 221.8
Percent sales by supply mode	6.00%	7.00%
Sale of Equipment \| Americas \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 0.0	$ 0.0
Sale of Equipment \| Asia \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	0.0	0.0
Sale of Equipment \| Europe \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	0.0	0.0
Sale of Equipment \| Middle East and India \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	0.0	0.0
Sale of Equipment \| Corporate and other \| Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 179.4	$ 221.8

Revenue Recognition (Remaining Performance Obligations) (Details) $ in Billions	Dec. 31, 2022 USD ($)
Revenue from Contract with Customer [Abstract]
Transaction price allocated to remaining performance obligations	$ 23
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percentage of remaining performance obligation	50.00%
Estimated timing of recognition of performance obligation	5 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percentage of remaining performance obligation	50.00%
Estimated timing of recognition of performance obligation

Revenue Recognition (Contract Assets and Liabilities) (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Sep. 30, 2022
Contract Assets and Liabilities
Contract assets - current	$ 81.9	$ 69.0
Contract fulfillment costs - current	103.5	84.1
Contract liabilities - current	424.6	439.1
Contract liabilities - noncurrent	97.4	$ 67.2
Revenue recognized that was previously included in current contract liabilities	$ 80.0

Inventories (Schedule of Inventory) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Sep. 30, 2022
Inventory Disclosure [Abstract]
Finished goods	$ 244.7	$ 162.0
Work in process	25.1	22.0
Raw materials, supplies, and other	365.5	330.2
Inventories	$ 635.3	$ 514.2

Equity Affiliates (Details) - USD ($) $ in Millions				12 Months Ended
Equity Affiliates (Details) - USD ($) $ in Millions	Jan. 19, 2023	Oct. 27, 2021	Sep. 27, 2021	Dec. 31, 2023	Sep. 30, 2015	Dec. 31, 2022
JIGPC
Schedule of Equity Method Investments [Line Items]
Payments for equity investment		$ 1,600.0
Ownership interest percentage		55.00%				55.00%
Ownership percentage attributable to noncontrolling partner		4.00%				4.00%
Investment balance						$ 1,776.5
JIGPC \| Subsequent event
Schedule of Equity Method Investments [Line Items]
Payments for equity investment	$ 908.0
JIGPC \| Non-controlling Interests
Schedule of Equity Method Investments [Line Items]
Payments for equity investment		$ 130.0
JIGPC \| Non-controlling Interests \| Subsequent event
Schedule of Equity Method Investments [Line Items]
Payments for equity investment	73.0
JIGPC \| Forecast
Schedule of Equity Method Investments [Line Items]
Payments for equity investment				$ 115.0
JIGPC \| Forecast \| Non-controlling Interests
Schedule of Equity Method Investments [Line Items]
Payments for equity investment				$ 9.0
JIGPC \| Aramco
Schedule of Equity Method Investments [Line Items]
Definitive agreement for acquisition of assets, value			$ 12,000.0
Acquisition of assets		$ 7,000.0
Term of agreement to commission, operate, and maintain the project assets			25 years
JIGPC \| Aramco \| Subsequent event
Schedule of Equity Method Investments [Line Items]
Acquisition of assets	$ 4,150.0
JGPC \| Aramco
Schedule of Equity Method Investments [Line Items]
Term of oxygen and nitrogen supply agreement					20 years

Goodwill (Schedule of Goodwill by Segment) (Details) $ in Millions	3 Months Ended
	Dec. 31, 2022 USD ($)
Goodwill [Roll Forward]
Goodwill, net, beginning balance	$ 823.0
Currency translation and other	53.3
Goodwill, net, ending balance	876.3
Americas
Goodwill [Roll Forward]
Goodwill, net, beginning balance	143.2
Currency translation and other	5.6
Goodwill, net, ending balance	148.8
Asia
Goodwill [Roll Forward]
Goodwill, net, beginning balance	172.7
Currency translation and other	4.2
Goodwill, net, ending balance	176.9
Europe
Goodwill [Roll Forward]
Goodwill, net, beginning balance	457.5
Currency translation and other	43.1
Goodwill, net, ending balance	500.6
Middle East and India
Goodwill [Roll Forward]
Goodwill, net, beginning balance	15.8
Currency translation and other	0.0
Goodwill, net, ending balance	15.8
Corporate and other
Goodwill [Roll Forward]
Goodwill, net, beginning balance	33.8
Currency translation and other	0.4
Goodwill, net, ending balance	$ 34.2

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Goodwill (Schedule of Accumulated Impairment Losses) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Sep. 30, 2022
Goodwill [Line Items]
Goodwill, gross	$ 1,188.1	$ 1,096.0
Goodwill, net	876.3	823.0
Americas
Goodwill [Line Items]
Goodwill, accumulated impairment losses	(311.8)	(273.0)
Goodwill, net	$ 148.8	$ 143.2

- Definition

+ References + Details

Financial Instruments (Narrative) (Details) € in Millions	3 Months Ended		6 Months Ended
Financial Instruments (Narrative) (Details) € in Millions	Dec. 31, 2022 USD ($)	Dec. 31, 2022 EUR (€)	Mar. 31, 2022 USD ($)	Mar. 31, 2022 EUR (€)	Sep. 30, 2022 USD ($)
Derivative [Line Items]
Net liability position of derivatives with credit risk-related contingent features	$ 105,000,000.0				$ 114,800,000
Collateral posted on liability positions with credit risk-related contingent features	0
Collateral amount that counterparties would be required to post	$ 36,300,000				$ 62,800,000
Forward exchange contracts \| Cash flow hedges
Derivative [Line Items]
Maximum remaining maturity of foreign currency derivatives	3 years 6 months	3 years 6 months
Foreign currency debt \| Euro Denominated
Derivative [Line Items]
Notional amount included in designated foreign currency denominated debt	$ 1,370,700,000	€ 1,280.5	$ 1,240,400,000	€ 1,265.4

Financial Instruments (Currency Price Risk Management Instruments) (Details) - Forward exchange contracts - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022
Derivative [Line Items]
US$ Notional	$ 5,902.3	$ 5,601.5
Years Average Maturity	8 months 12 days	9 months 18 days
Designated as hedging instrument \| Cash flow hedges
Derivative [Line Items]
US$ Notional	$ 4,877.6	$ 4,525.0
Years Average Maturity	7 months 6 days	8 months 12 days
Designated as hedging instrument \| Net investment hedges
Derivative [Line Items]
US$ Notional	$ 616.5	$ 542.2
Years Average Maturity	1 year 10 months 24 days	2 years 2 months 12 days
Not designated as hedging instrument
Derivative [Line Items]
US$ Notional	$ 408.2	$ 534.3
Years Average Maturity	2 months 12 days	3 months 18 days

Financial Instruments (Interest Rate Management Contracts and Cross Currency Interest Rate Swaps) (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022
Interest Rate Swaps Contracts \| Designated as hedging instrument \| Fair Value Hedges
Derivative [Line Items]
US$ Notional	$ 800.0	$ 800.0
Average Pay %	Various	Various
Average Receive %	1.64%	1.64%
Years Average Maturity	4 years 9 months 18 days	5 years
Cross currency interest rate swaps \| Designated as hedging instrument \| Net investment hedges
Derivative [Line Items]
US$ Notional	$ 131.0	$ 176.7
Average Pay %	3.67%	4.12%
Average Receive %	2.93%	3.07%
Years Average Maturity	1 year 3 months 18 days	1 year 2 months 12 days
Cross currency interest rate swaps \| Designated as hedging instrument \| Cash flow hedges
Derivative [Line Items]
US$ Notional	$ 741.9	$ 785.7
Average Pay %	4.82%	4.78%
Average Receive %	2.92%	3.05%
Years Average Maturity	2 years 2 months 12 days	2 years 3 months 18 days
Cross currency interest rate swaps \| Not designated as hedging instrument
Derivative [Line Items]
US$ Notional	$ 39.4	$ 37.7
Average Pay %	5.39%	5.39%
Average Receive %	3.54%	3.54%
Years Average Maturity	10 months 24 days	1 year 2 months 12 days

Financial Instruments (Carrying Amount and Cumulative Hedging Adjustment) (Details) - Long-term debt - USD ($) $ in Millions	Dec. 31, 2022	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Carrying amounts of hedged item	$ 2,017.8	$ 2,012.9
Cumulative hedging adjustment, included in carrying amount	$ (72.7)	$ (77.1)

Financial Instruments (Fair Value and Balance Sheet Location of Derivatives) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Sep. 30, 2022
Derivative [Line Items]
Total Derivatives, Assets	$ 141.0	$ 189.1
Total Derivatives, Liabilities	$ 188.8	$ 366.5
Other Receivables and Current Assets
Derivative [Line Items]
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other Assets, Current	Other Assets, Current
Other Noncurrent Assets
Derivative [Line Items]
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other noncurrent assets	Other noncurrent assets
Payables and Accrued Liabilities
Derivative [Line Items]
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Payables and accrued liabilities	Payables and accrued liabilities
Other Noncurrent Liabilities
Derivative [Line Items]
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other noncurrent liabilities	Other noncurrent liabilities
Designated as hedging instrument
Derivative [Line Items]
Total Derivatives, Assets	$ 137.4	$ 181.6
Total Derivatives, Liabilities	186.6	364.3
Designated as hedging instrument \| Other Receivables and Current Assets \| Forward exchange contracts
Derivative [Line Items]
Total Derivatives, Assets	85.0	71.6
Designated as hedging instrument \| Other Receivables and Current Assets \| Interest Rate Management Contracts
Derivative [Line Items]
Total Derivatives, Assets	16.8	36.7
Designated as hedging instrument \| Other Noncurrent Assets \| Forward exchange contracts
Derivative [Line Items]
Total Derivatives, Assets	26.8	60.8
Designated as hedging instrument \| Other Noncurrent Assets \| Interest Rate Management Contracts
Derivative [Line Items]
Total Derivatives, Assets	8.8	12.5
Designated as hedging instrument \| Payables and Accrued Liabilities \| Forward exchange contracts
Derivative [Line Items]
Total Derivatives, Liabilities	79.5	226.2
Designated as hedging instrument \| Payables and Accrued Liabilities \| Interest Rate Management Contracts
Derivative [Line Items]
Total Derivatives, Liabilities	1.5	0.0
Designated as hedging instrument \| Other Noncurrent Liabilities \| Forward exchange contracts
Derivative [Line Items]
Total Derivatives, Liabilities	6.6	46.9
Designated as hedging instrument \| Other Noncurrent Liabilities \| Interest Rate Management Contracts
Derivative [Line Items]
Total Derivatives, Liabilities	99.0	91.2
Not designated as hedging instrument
Derivative [Line Items]
Total Derivatives, Assets	3.6	7.5
Total Derivatives, Liabilities	2.2	2.2
Not designated as hedging instrument \| Other Receivables and Current Assets \| Forward exchange contracts
Derivative [Line Items]
Total Derivatives, Assets	3.1	6.1
Not designated as hedging instrument \| Other Receivables and Current Assets \| Interest Rate Management Contracts
Derivative [Line Items]
Total Derivatives, Assets	0.5	0.0
Not designated as hedging instrument \| Other Noncurrent Assets \| Forward exchange contracts
Derivative [Line Items]
Total Derivatives, Assets	0.0	0.1
Not designated as hedging instrument \| Other Noncurrent Assets \| Interest Rate Management Contracts
Derivative [Line Items]
Total Derivatives, Assets	0.0	1.3
Not designated as hedging instrument \| Payables and Accrued Liabilities \| Forward exchange contracts
Derivative [Line Items]
Total Derivatives, Liabilities	2.2	2.1
Not designated as hedging instrument \| Payables and Accrued Liabilities \| Interest Rate Management Contracts
Derivative [Line Items]
Total Derivatives, Assets	0.0	0.0
Not designated as hedging instrument \| Other Noncurrent Liabilities \| Forward exchange contracts
Derivative [Line Items]
Total Derivatives, Liabilities	0.0	0.1
Not designated as hedging instrument \| Other Noncurrent Liabilities \| Interest Rate Management Contracts
Derivative [Line Items]
Total Derivatives, Liabilities	$ 0.0	$ 0.0

Financial Instruments (Gains and Losses Recognized In Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Net Investment Hedging Relationships
Tax effects	$ 38.0	$ (7.6)
Net Amount Recognized in OCI	509.6	40.6
Derivatives in Cash Flow Hedging Relationships
Tax effects	(38.2)	11.1
Net Amount Recognized in OCI	121.0	(0.5)
Net investment hedges
Net Investment Hedging Relationships
Total Amount Recognized in OCI	(173.0)	39.8
Tax effects	42.5	(9.8)
Net Amount Recognized in OCI	(130.5)	30.0
Net investment hedges \| Forward exchange contracts
Net Investment Hedging Relationships
Total Amount Recognized in OCI	(47.1)	14.5
Net investment hedges \| Foreign currency debt
Net Investment Hedging Relationships
Total Amount Recognized in OCI	(115.3)	27.6
Net investment hedges \| Cross currency interest rate swaps
Net Investment Hedging Relationships
Total Amount Recognized in OCI	(10.6)	(2.3)
Cash flow hedges
Derivatives in Cash Flow Hedging Relationships
Total Amount Recognized in OCI	159.2	(11.6)
Tax effects	(38.2)	11.1
Net Amount Recognized in OCI	121.0	(0.5)
Cash flow hedges \| Forward exchange contracts
Derivatives in Cash Flow Hedging Relationships
Total Amount Recognized in OCI	188.8	(23.4)
Cash flow hedges \| Forward exchange contracts, excluded components
Derivatives in Cash Flow Hedging Relationships
Total Amount Recognized in OCI	(5.6)	(2.7)
Cash flow hedges \| Other
Derivatives in Cash Flow Hedging Relationships
Total Amount Recognized in OCI	$ (24.0)	$ 14.5

Financial Instruments (Cash Flow and Fair Value Hedges Location and Amounts Recognized) (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Total presented in consolidated income statements that includes effects of hedging below
Sales	$ 3,174.7	$ 2,994.2
Cost of sales	2,272.3	2,223.6
Interest expense	41.2	30.5
Other non-operating income (expense), net	(0.6)	22.6
(Gain) Loss Effects of Cash Flow Hedging:
Tax effects	21.7	(6.1)
Net (Gain) Loss Reclassified from OCI to Income	(68.7)	18.7
Cash flow hedges \| Sales
(Gain) Loss Effects of Cash Flow Hedging:
Amount reclassified from OCI into income	0.0	0.4
Tax effects	0.0	(0.1)
Net (Gain) Loss Reclassified from OCI to Income	0.0	0.3
Cash flow hedges \| Cost of Sales
(Gain) Loss Effects of Cash Flow Hedging:
Amount reclassified from OCI into income	1.2	(0.1)
Tax effects	(0.2)	0.0
Net (Gain) Loss Reclassified from OCI to Income	1.0	(0.1)
Cash flow hedges \| Interest Expense
(Gain) Loss Effects of Cash Flow Hedging:
Amount reclassified from OCI into income	1.5	1.4
Tax effects	(0.5)	(0.5)
Net (Gain) Loss Reclassified from OCI to Income	1.0	0.9
Cash flow hedges \| Other Non-Operating Income (Expense), Net
(Gain) Loss Effects of Cash Flow Hedging:
Amount reclassified from OCI into income	(93.1)	23.1
Tax effects	22.4	(5.5)
Net (Gain) Loss Reclassified from OCI to Income	(70.7)	17.6
Cash flow hedges \| Forward exchange contracts \| Sales
(Gain) Loss Effects of Cash Flow Hedging:
Amount reclassified from OCI into income	0.0	0.4
Cash flow hedges \| Forward exchange contracts \| Cost of Sales
(Gain) Loss Effects of Cash Flow Hedging:
Amount reclassified from OCI into income	1.2	(0.1)
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	(117.8)	14.5
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	2.0	1.3
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	1.5	1.4
Cash flow hedges \| Other \| Other Non-Operating Income (Expense), Net
(Gain) Loss Effects of Cash Flow Hedging:
Amount reclassified from OCI into income	22.7	7.3
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:
Hedged 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:
Hedged 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:
Hedged items	4.4	(2.5)
Derivatives designated as hedging instruments	(4.4)	2.5
Fair Value Hedges \| Other \| Other Non-Operating Income (Expense), Net
(Gain) Loss Effects of Fair Value Hedging:
Hedged items	0.0	0.0
Derivatives designated as hedging instruments	$ 0.0	$ 0.0

Financial Instruments (Effects of Derivatives Not Designated as a Hedging Instrument) (Details) - Not designated as hedging instrument - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Other Income (Expense), Net
Derivative Instruments, Gain (Loss) [Line Items]
Total (Gain) Loss Recognized in Income	$ 0.6	$ 1.1
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other non-operating income (expense), net	Other non-operating income (expense), net
Other Income (Expense), Net \| Forward exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Total (Gain) Loss Recognized in Income	$ 0.6	$ 1.1
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other non-operating income (expense), net	Other non-operating income (expense), net
Other Income (Expense), Net \| Other
Derivative Instruments, Gain (Loss) [Line Items]
Total (Gain) Loss Recognized in Income	$ 0.0	$ 0.0
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other non-operating income (expense), net	Other non-operating income (expense), net
Other Non-Operating Income (Expense), Net
Derivative Instruments, Gain (Loss) [Line Items]
Total (Gain) Loss Recognized in Income	$ (0.5)	$ (0.5)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other non-operating income (expense), net	Other non-operating income (expense), net
Other Non-Operating Income (Expense), Net \| Forward exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Total (Gain) Loss Recognized in Income	$ (1.6)	$ (0.6)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other non-operating income (expense), net	Other non-operating income (expense), net
Other Non-Operating Income (Expense), Net \| Other
Derivative Instruments, Gain (Loss) [Line Items]
Total (Gain) Loss Recognized in Income	$ 1.1	$ 0.1
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other non-operating income (expense), net	Other non-operating income (expense), net

Fair Value Measurements (Schedule of the Carrying Values and Fair Values of Financial Instruments) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Sep. 30, 2022
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current portion and related party, carrying value	$ 8,055.6	$ 7,634.1
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current portion and related party, fair value	7,227.2	6,721.2
Forward exchange contracts \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	114.9	138.6
Derivative liabilities	88.3	275.3
Forward exchange contracts \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	114.9	138.6
Derivative liabilities	88.3	275.3
Interest Rate Management Contracts \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	26.1	50.5
Derivative liabilities	100.5	91.2
Interest Rate Management Contracts \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	26.1	50.5
Derivative liabilities	$ 100.5	$ 91.2

- Definition

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Fair Value Measurements (Schedule of Recurring Fair Value Measurements) (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Dec. 31, 2022	Sep. 30, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Assets at Fair Value	$ 141.0	$ 189.1
Total Liabilities at Fair Value	188.8	366.5
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	141.0	189.1
Total Liabilities at Fair Value	188.8	366.5
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	114.9	138.6
Derivative liabilities	88.3	275.3
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	114.9	138.6
Derivative liabilities	88.3	275.3
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	26.1	50.5
Derivative liabilities	100.5	91.2
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	26.1	50.5
Derivative liabilities	100.5	91.2
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) - USD ($) $ in Millions	3 Months Ended
Debt (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Sep. 30, 2022
Debt Instrument [Line Items]
Related party debt	$ 791.5	$ 781.0
Current portion of long-term debt due to related party	133.1	129.0
Credit facilities of foreign subsidiaries \| Foreign credit facilities
Debt Instrument [Line Items]
Maximum borrowing capacity	1,319.5
Borrowings outstanding	$ 751.9	$ 457.5
Debt Instrument, Basis Spread on Variable Rate	1.35%
Saudi Riyal Loan Facility 4.10% \| Bonds
Debt Instrument [Line Items]
Interest rate (percent)		4.10%
Carrying amount		$ 195.6

Retirement Benefits (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Sep. 30, 2022
Defined Benefit Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Company contributions	$ 8.0	$ 9.1	$ 44.7
Curtailment gain	1.9	0.0
Defined Benefit Pension Plan \| International
Defined Benefit Plan Disclosure [Line Items]
Curtailment gain	1.9	0.0
Decrease in projected benefit obligation	9.1
Decrease in accumulated other comprehensive loss	9.1
Defined Benefit Pension Plan \| Minimum
Defined Benefit Plan Disclosure [Line Items]
Total expected contributions for current fiscal year	25.0
Defined Benefit Pension Plan \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Total expected contributions for current fiscal year	35.0
Other Postretirement Benefits Plan
Defined Benefit Plan Disclosure [Line Items]
Amortization of actuarial gain	$ 0.6	$ 0.4

Retirement Benefits (Schedule of Net Periodic Benefit Cost) (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other non-operating income (expense), net	Other non-operating income (expense), net
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 6.0	$ 10.2
Interest Cost	46.9	26.0
Expected Return on Plan Assets	(43.6)	(59.8)
Prior service cost amortization	0.3	0.3
Actuarial loss amortization	17.8	20.6
Settlements	0.0	0.9
Curtailments	(1.9)	0.0
Other	0.3	0.8
Net periodic (benefit) cost	25.8	(1.0)
U.S. \| Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	2.7	4.6
Interest Cost	32.5	18.4
Expected Return on Plan Assets	(31.8)	(42.1)
Prior service cost amortization	0.3	0.3
Actuarial loss amortization	14.8	16.7
Settlements	0.0	0.9
Curtailments	0.0	0.0
Other	0.0	0.0
Net periodic (benefit) cost	18.5	(1.2)
International \| Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	3.3	5.6
Interest Cost	14.4	7.6
Expected Return on Plan Assets	(11.8)	(17.7)
Prior service cost amortization	0.0	0.0
Actuarial loss amortization	3.0	3.9
Settlements	0.0	0.0
Curtailments	(1.9)	0.0
Other	0.3	0.8
Net periodic (benefit) cost	$ 7.3	$ 0.2

Commitments and Contingencies (Litigation and Environmental - Narrative) (Details) R$ in Millions	1 Months Ended	3 Months Ended
	Sep. 30, 2010 BRL (R$)	Dec. 31, 2022 USD ($) site	Dec. 31, 2022 BRL (R$) site	Sep. 30, 2022 USD ($)
Alleged Anticompete Litigation
Loss Contingencies [Line Items]
Civil fines imposed	R$ 179.2	$ 34,000,000
Provision for litigation		0
Maximum of loss contingency range subject to interest		$ 34,000,000	R$ 179.2
Environmental
Loss Contingencies [Line Items]
Approximate number of sites on which settlement has not been reached \| site		30	30
Accrual for environmental loss contingencies		$ 70,400,000		$ 71,300,000
Accrual for environmental loss contingencies, maximum payout period		30 years
Environmental \| Minimum
Loss Contingencies [Line Items]
Estimate of possible exposure from environmental loss contingencies		$ 70,000,000
Environmental \| Maximum
Loss Contingencies [Line Items]
Estimate of possible exposure from environmental loss contingencies		$ 83,000,000

Commitments and Contingencies (Pace, Piedmont, Pasadena - Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Sep. 30, 2012	Sep. 30, 2008	Sep. 30, 2006	Dec. 31, 2022
Pace, Florida
Loss Contingencies [Line Items]
Accrual for environmental loss contingencies				$ 42.0	$ 37.9
Change in estimated exposure	$ 19.0
Pace, Florida \| Discontinued operations
Loss Contingencies [Line Items]
Pretax environmental expense	$ 19.0			$ 42.0
Piedmont, South Carolina
Loss Contingencies [Line Items]
Accrual for environmental loss contingencies			$ 24.0		7.1
Piedmont, South Carolina \| Discontinued operations
Loss Contingencies [Line Items]
Pretax environmental expense			$ 24.0
Pasadena, Texas
Loss Contingencies [Line Items]
Accrual for environmental loss contingencies					$ 10.7
Total anticipated exposure		$ 13.0

Share-Based Compensation (Narrative) (Details)	3 Months Ended
Share-Based Compensation (Narrative) (Details)	Dec. 31, 2022 $ / shares shares
Market-Based Deferred Stock Unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units/shares granted	85,612
Performance period	3 years
Weighted average grant date fair value (in dollars per unit/share) \| $ / shares	$ 502.03
Time-Based Deferred Stock Unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units/shares granted	107,621
Weighted average grant date fair value (in dollars per unit/share) \| $ / shares	$ 310.79
LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future grant	1,200,000

Share-Based Compensation (Compensation Cost Recognized in Income Statement) (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-based Payment Arrangement, Additional Disclosure [Abstract]
Before-tax share-based compensation cost	$ 16.9	$ 16.8
Income tax benefit	(4.1)	(4.1)
After-tax share-based compensation cost	$ 12.8	$ 12.7

Share-Based Compensation (Market-Based Deferred Stock Unit Valuation Assumptions) (Details) - Market-Based Deferred Stock Unit	3 Months Ended
	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	32.50%
Risk-free interest rate	4.00%
Expected dividend yield	2.40%

Accumulated Other Comprehensive Loss (Rollforward) (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 13,702.4	$ 14,088.0
Other comprehensive income before reclassifications	637.3
Amounts reclassified from AOCL	(56.8)
Total Other Comprehensive Income (Loss)	580.5	74.8
Amount attributable to noncontrolling interests	12.7	11.2
Ending balance	14,517.4	14,375.6
Derivatives qualifying as hedges
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(71.9)
Other comprehensive income before reclassifications	121.0
Amounts reclassified from AOCL	(68.7)
Total Other Comprehensive Income (Loss)	52.3
Amount attributable to noncontrolling interests	(0.6)
Ending balance	(19.0)
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(2,072.4)
Other comprehensive income before reclassifications	509.6
Amounts reclassified from AOCL	0.0
Total Other Comprehensive Income (Loss)	509.6
Amount attributable to noncontrolling interests	13.2
Ending balance	(1,576.0)
Pension and postretirement benefits
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(641.8)
Other comprehensive income before reclassifications	6.7
Amounts reclassified from AOCL	11.9
Total Other Comprehensive Income (Loss)	18.6
Amount attributable to noncontrolling interests	0.1
Ending balance	(623.3)
AOCL attributable to Air Products
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(2,786.1)	(1,515.9)
Total Other Comprehensive Income (Loss)	567.8	63.6
Ending balance	$ (2,218.3)	$ (1,452.3)

Accumulated Other Comprehensive Loss (Reclassification) (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Sales	$ (3,174.7)	$ (2,994.2)
Cost of sales	2,272.3	2,223.6
Interest expense	41.2	30.5
Other non-operating income (expense), net	0.6	(22.6)
Net Income Attributable to Air Products	(572.2)	(560.4)
Reclassification out of Accumulated Other Comprehensive Income \| (Gain) Loss on Cash Flow Hedges, net of tax
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Sales	0.0	0.3
Cost of sales	1.0	(0.1)
Interest expense	1.0	0.9
Other non-operating income (expense), net	(70.7)	17.6
Net Income Attributable to Air Products	(68.7)	18.7
Reclassification out of Accumulated Other Comprehensive Income \| Pension and Postretirement Benefits, net of tax
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net Income Attributable to Air Products	$ 11.9	$ 16.0

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 6
-URI https://asc.fasb.org/extlink&oid=124431353&loc=SL124452729-227067

Reference 7: 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 https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3602-108585

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 11: 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 https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 12: 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)(A))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 13: 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)(i))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 14: 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)(i))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
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Earnings Per Share (Schedule of Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Net Income Attributable to Air Products	$ 572.2	$ 560.4
Weighted average common shares — Basic	222.2	221.9
Employee stock option and other award plans	0.4	0.7
Weighted average common shares — Diluted	222.6	222.6
Basic earnings per share attributable to Air Products (in dollars per share)	$ 2.58	$ 2.53
Diluted earnings per share attributable to Air Products (in dollars per share)	$ 2.57	$ 2.52

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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Earnings Per Share (Narrative) (Details) - shares shares in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Antidilutive options excluded from computation of diluted earnings per share	0.1	0.0

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Effective tax rate (percent)	18.90%	17.10%
Income tax payments, net of refunds	$ 88.5	$ 50.3

Supplemental Information (NEOM Green Hydrogen Project) (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Sep. 30, 2022
Variable Interest Entity [Line Items]
Cash and cash items	$ 3,131.0	$ 2,711.0
Other receivables and current assets	542.9	515.8
Plant and equipment, net	15,039.2	14,160.5
Payables and accrued liabilities	2,552.0	2,771.6
Long-term debt – related party	658.4	652.0
Noncontrolling Interests	581.7	558.4
Variable Interest Entity, Primary Beneficiary \| NEOM Green Hydrogen Company
Variable Interest Entity [Line Items]
Cash and cash items	224.0	275.0
Other receivables and current assets	29.0	23.0
Plant and equipment, net	332.0	219.0
Payables and accrued liabilities	68.0	58.0
Long-term debt – related party	447.0	447.0
Noncontrolling Interests	$ 31.0	$ 30.0
Variable Interest Entity, Ownership interest by Air Products (percent)	33.30%

Supplemental Information (Related Party Transactions) (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Sep. 30, 2022
Related Party Transaction [Line Items]
Sales to and other income from related parties	$ 80	$ 80
Trade receivables, net, from related parties	$ 110		$ 55

Supplemental Information (Changes in Estimates) (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Change in Accounting Estimate [Line Items]
Operating income (loss)	$ 652.0	$ 523.0
Contracts accounted for under percentage of completion
Change in Accounting Estimate [Line Items]
Operating income (loss)	$ (25.0)

Supplemental Information (Lessee Accounting) (Details) $ in Millions	3 Months Ended
	Dec. 31, 2022 USD ($)
Disclosure Text Block Supplement [Abstract]
Noncash right-of-use asset additions	$ 51

Business Segment Information (Schedule of Segment Reporting Information) (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Sep. 30, 2022
Segment Reporting Information [Line Items]
Sales	$ 3,174.7	$ 2,994.2
Operating income (loss)	652.0	523.0
Depreciation and amortization	321.5	332.3
Equity affiliates' income	110.0	147.8
Total assets	28,278.3		$ 27,192.6
Operating Segments
Segment Reporting Information [Line Items]
Sales	3,174.7	2,994.2
Operating income (loss)	652.0	523.0
Depreciation and amortization	321.5	332.3
Equity affiliates' income	110.0	147.8
Total assets	28,278.3		27,192.6
Americas \| Operating Segments
Segment Reporting Information [Line Items]
Sales	1,384.2	1,224.1
Operating income (loss)	343.0	267.2
Depreciation and amortization	156.0	155.3
Equity affiliates' income	16.4	34.2
Total assets	8,515.0		8,237.7
Asia \| Operating Segments
Segment Reporting Information [Line Items]
Sales	777.8	780.4
Operating income (loss)	235.9	221.1
Depreciation and amortization	101.9	110.8
Equity affiliates' income	7.4	6.6
Total assets	7,439.3		6,968.7
Europe \| Operating Segments
Segment Reporting Information [Line Items]
Sales	791.9	744.2
Operating income (loss)	145.8	99.2
Depreciation and amortization	44.3	49.8
Equity affiliates' income	17.7	13.9
Total assets	3,908.1		3,645.1
Middle East and India \| Operating Segments
Segment Reporting Information [Line Items]
Sales	41.4	23.7
Operating income (loss)	6.7	4.8
Depreciation and amortization	6.6	6.1
Equity affiliates' income	64.1	92.3
Total assets	3,154.2		2,980.7
Corporate and other \| Operating Segments
Segment Reporting Information [Line Items]
Sales	179.4	221.8
Operating income (loss)	(79.4)	(69.3)
Depreciation and amortization	12.7	10.3
Equity affiliates' income	4.4	$ 0.8
Total assets	$ 5,261.7		$ 5,360.4