Business and Asset Actions |
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Sep. 30, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring and Related Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business and Asset Actions | BUSINESS AND ASSET ACTIONS Our consolidated income statements reflect charges for strategic business and asset actions intended to optimize costs and focus resources on our growth projects. As further discussed below, charges for business and asset actions were $57.0 ($43.8 after tax), $244.6 ($204.9 attributable to Air Products after tax), and $73.7 ($61.0 after tax) in fiscal years 2024, 2023, and 2022, respectively. These charges were not recorded in segment results. Global Cost Reduction Plan During the second quarter of fiscal year 2024, we recognized an expense of $57.0 for severance and other postemployment benefits payable to employees identified under a global cost reduction plan. We originated this plan during the third quarter of fiscal year 2023, which resulted in an initial charge of $27.0. In total, approximately 1,100 employees globally are eligible to receive benefits under the plan. We estimated benefits payable according to our ongoing benefit arrangements. The table below reconciles these charges to the carrying amount of the remaining accrual for unpaid benefits as of 30 September 2024. This balance primarily relates to the additional actions identified during the second quarter of fiscal year 2024. We expect to pay the majority of the remaining benefits over the next six months.
(A) Reflected within "Payables and accrued liabilities" on our consolidated balance sheets. Asset Actions In fiscal year 2023, we recorded a noncash charge of $217.6 to write off assets associated with exited projects that were previously under construction in our Asia and Europe segments. The assets written off included those related to our withdrawal from coal gasification in Indonesia as well as a project in Ukraine that was permanently suspended due to Russia's invasion of the country. Of the charge, $5.0 was attributable to a noncontrolling partner. Also as a result of the invasion, we divested our small industrial gas business in Russia in fiscal year 2022 and recorded a noncash charge of $73.7 that included transaction costs and cumulative currency translation losses. Prior to the divestiture, this business was reflected in our Europe segment.
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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
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- Definition Amount of increase (decrease) from foreign currency translation and measurement period adjustments of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Leases |
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Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Leases | LEASES Lessee Accounting We are the lessee under various agreements for real estate, vehicles, aircraft, and other equipment that are accounted for as operating leases. Our finance leases principally relate to the right to use machinery and equipment and are not material. Amounts associated with operating leases and their presentation on our consolidated balance sheets are as follows:
(A)Calculated on the basis of the remaining lease term and the lease liability balance for each lease as of the reporting date. (B)Calculated on the basis of the discount rate used to calculate the lease liability for each lease and the remaining balance of the lease payments for each lease as of the reporting date. The following maturity analysis of our operating lease liabilities as of 30 September 2024 presents the undiscounted cash flows for each of the next five years and thereafter with a reconciliation to the lease liability recognized on our balance sheet:
Operating lease expense was $122.4, $109.9, and $105.3 for fiscal years 2024, 2023, and 2022, respectively. These amounts do not include short-term and variable lease expenses, which were not material. The impacts associated with our operating leases on the consolidated statements of cash flows are reflected within "Other adjustments" within operating activities. This includes the noncash operating lease expense as well as a use of cash of $154.6, $337.8, and $128.0 for payments on amounts included in the measurement of the lease liability for fiscal years 2024, 2023, and 2022, respectively. Payments in fiscal year 2023 included a lump-sum payment of $209 for a land lease associated with the NGHC joint venture. Refer to Note 3, Variable Interest Entities, for additional information. We recorded noncash right-of-use asset additions of approximately $159, $150, and $252 in fiscal years 2024, 2023, and 2022, respectively. Lessor Accounting Certain contracts associated with facilities that are built to provide product to a specific customer have been accounted for as containing embedded leases. Refer to Note 1, Basis of Presentation and Major Accounting Policies, for a description of our accounting policy for arrangements in which we are the lessor. "Lease receivables, net" relate to sales-type leases on certain on-site assets for which payments are collected over the contract term. The table below details balances associated with our lease receivables:
(A)Presented within "Other receivables and current assets" on our consolidated balance sheets. The majority of our leases are of high credit quality and were originated prior to fiscal year 2017. As of 30 September 2024 and 2023, the credit quality of lease receivables did not require a material allowance for credit losses. The table below summarizes lease payments collected in fiscal years 2024, 2023, and 2022:
As of 30 September 2024, minimum lease payments expected to be collected were as follows:
Our contracts generally do not have the option to extend or terminate the lease or provide the customer the right to purchase the asset at the end of the contract term. Instead, renewal of such contracts requires negotiation of mutually agreed terms by both parties. Unless the customer terminates within the required notice period, the contract will go into evergreen. Given the long-term duration of our contracts, there is no assumed residual value for the assets at the end of the lease term.
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Leases | LEASES Lessee Accounting We are the lessee under various agreements for real estate, vehicles, aircraft, and other equipment that are accounted for as operating leases. Our finance leases principally relate to the right to use machinery and equipment and are not material. Amounts associated with operating leases and their presentation on our consolidated balance sheets are as follows:
(A)Calculated on the basis of the remaining lease term and the lease liability balance for each lease as of the reporting date. (B)Calculated on the basis of the discount rate used to calculate the lease liability for each lease and the remaining balance of the lease payments for each lease as of the reporting date. The following maturity analysis of our operating lease liabilities as of 30 September 2024 presents the undiscounted cash flows for each of the next five years and thereafter with a reconciliation to the lease liability recognized on our balance sheet:
Operating lease expense was $122.4, $109.9, and $105.3 for fiscal years 2024, 2023, and 2022, respectively. These amounts do not include short-term and variable lease expenses, which were not material. The impacts associated with our operating leases on the consolidated statements of cash flows are reflected within "Other adjustments" within operating activities. This includes the noncash operating lease expense as well as a use of cash of $154.6, $337.8, and $128.0 for payments on amounts included in the measurement of the lease liability for fiscal years 2024, 2023, and 2022, respectively. Payments in fiscal year 2023 included a lump-sum payment of $209 for a land lease associated with the NGHC joint venture. Refer to Note 3, Variable Interest Entities, for additional information. We recorded noncash right-of-use asset additions of approximately $159, $150, and $252 in fiscal years 2024, 2023, and 2022, respectively. Lessor Accounting Certain contracts associated with facilities that are built to provide product to a specific customer have been accounted for as containing embedded leases. Refer to Note 1, Basis of Presentation and Major Accounting Policies, for a description of our accounting policy for arrangements in which we are the lessor. "Lease receivables, net" relate to sales-type leases on certain on-site assets for which payments are collected over the contract term. The table below details balances associated with our lease receivables:
(A)Presented within "Other receivables and current assets" on our consolidated balance sheets. The majority of our leases are of high credit quality and were originated prior to fiscal year 2017. As of 30 September 2024 and 2023, the credit quality of lease receivables did not require a material allowance for credit losses. The table below summarizes lease payments collected in fiscal years 2024, 2023, and 2022:
As of 30 September 2024, minimum lease payments expected to be collected were as follows:
Our contracts generally do not have the option to extend or terminate the lease or provide the customer the right to purchase the asset at the end of the contract term. Instead, renewal of such contracts requires negotiation of mutually agreed terms by both parties. Unless the customer terminates within the required notice period, the contract will go into evergreen. Given the long-term duration of our contracts, there is no assumed residual value for the assets at the end of the lease term.
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The entire disclosure of lessor's sales-type leases. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Debt (Interest) (Details) - USD ($) $ in Millions |
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Debt Disclosure [Abstract] | |||
Interest incurred | $ 507.9 | $ 292.9 | $ 169.0 |
Less: Capitalized interest | 289.1 | 115.4 | 41.0 |
Interest expense | 218.8 | 177.5 | 128.0 |
Cash paid for interest, net of amounts capitalized | $ 198.2 | $ 131.5 | $ 128.5 |
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- Definition Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. No definition available.
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- Definition Total interest costs incurred during the period and either capitalized or charged against earnings. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of interest expense classified as nonoperating. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of cash paid for interest, excluding capitalized interest, classified as operating activity. Includes, but is not limited to, payment to settle zero-coupon bond for accreted interest of debt discount and debt instrument with insignificant coupon interest rate in relation to effective interest rate of borrowing attributable to accreted interest of debt discount. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Retirement Benefits (Tables) - Defined Benefit Pension Plan |
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Defined Benefit Plan Disclosure [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Net Periodic Benefit Cost | The components of net periodic cost (benefit) for our defined benefit pension plans for fiscal years 2024, 2023, and 2022 were as follows:
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Schedule of Assumptions Used in The Calculation of Net Periodic Pension Cost and PBO | The following table sets forth the weighted average assumptions used in the calculation of net periodic cost (benefit):
The projected benefit obligation ("PBO") is the actuarial present value of benefits attributable to employee service rendered to date, including the effects of estimated future salary increases. The following table sets forth the weighted average assumptions used in the calculation of the PBO:
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Schedule of Changes in Projected Benefit Obligations | The following tables reflect the change in the PBO and the change in the fair value of plan assets based on the plan year measurement date, as well as the amounts recognized in the consolidated balance sheets:
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Schedule of Changes in Fair Value of Plan Assets |
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Schedule of Amounts Recognized in Balance Sheet |
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Schedule of Amounts Recognized in Other Comprehensive Income (Loss) | The changes in plan assets and benefit obligation that have been recognized in other comprehensive income on a pretax basis during fiscal years 2024 and 2023 consist of the following:
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Schedule of Components Recognized in Accumulated Other Comprehensive Income on Pretax Basis | The components recognized in accumulated other comprehensive loss on a pretax basis at 30 September consisted of the following:
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Schedule of Project Benefit Obligations in Excess of Fair Value of Plan Assets | The following table provides information on pension plans where the benefit liability exceeds the value of plan assets:
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Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets | The following table provides information on pension plans where the benefit liability exceeds the value of plan assets:
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Schedule of Target and Actual Asset Allocations by Category | The actual and target allocations at the measurement date are as follows:
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Schedule of Allocation of Plan Assets | The table below summarizes pension plan assets measured at fair value by asset class (see Note 16, Fair Value Measurements, for definition of the levels):
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Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets | The table below summarizes changes in fair value of the pension plan assets classified as Level 3:
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Schedule of Expected Benefit Payments | Projected benefit payments, which reflect expected future service, are as follows:
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X | ||||||||||
- Definition Tabular disclosure of the net gain (loss) and net prior service cost or credit recognized in accumulated other comprehensive income (loss) for pension plans and/or other employee benefit plans, on a pretax basis. No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of the target and actual asset allocations by asset category No definition available.
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of benefit obligation and plan assets of defined benefit plan with accumulated benefit obligation in excess of plan assets. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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X | ||||||||||
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Tabular disclosure of the amounts that are recognized in the balance sheet (or statement of financial position) for pension plans and/or other employee benefit plans, showing separately the assets and current and noncurrent liabilities (if applicable) recognized. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Tabular disclosure of the net gain (loss) and net prior service cost or credit recognized in other comprehensive income (loss) for the period for pension plans and/or other employee benefit plans, and reclassification adjustments of other comprehensive income (loss) for the period, as those amounts, including amortization of the net transition asset or obligation, are recognized as components of net periodic benefit cost. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Tabular disclosure of benefit obligation and plan assets for defined benefit pension plan with projected benefit obligation in excess of plan assets. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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X | ||||||||||
- Definition Tabular disclosure of the reconciliation of beginning and ending balances of the fair value of plan assets of pension plans and/or other employee benefit plans showing separately, if applicable, the effects during the period attributable to each of the following: actual return on plan assets, foreign currency exchange rate changes, contributions by the employer, contributions by plan participants, benefits paid, business combinations, divestitures, and settlements. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Tabular disclosure of the change in the benefit obligation of pension plans and/or other employee benefit plans from the beginning to the end of the period, showing separately, if applicable, the effects of the following: service cost, interest cost, contributions by plan participants, actuarial gains and losses, foreign currency exchange rate changes, benefits paid, plan amendments, business combinations, divestitures, curtailments, settlements, and special and contractual termination benefits. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Tabular disclosure of the effect of fair value measurements using significant unobservable inputs (Level 3) on changes in plan assets of pension plans and/or other employee benefit plans for the period. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Details
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Financial Instruments (Narrative) (Details) € in Millions |
12 Months Ended | |||
---|---|---|---|---|
Sep. 30, 2024
USD ($)
|
Sep. 30, 2024
EUR (€)
|
Sep. 30, 2023
USD ($)
|
Sep. 30, 2023
EUR (€)
|
|
Derivative [Line Items] | ||||
Net liability position of derivatives with credit risk-related contingent features | $ 47,300,000 | $ 94,200,000 | ||
Collateral posted on liability positions with credit risk-related contingent features | 0 | |||
Collateral amount that counterparties would be required to post | $ 57,200,000 | 345,000,000.0 | ||
Forward exchange contracts | Cash flow hedges | ||||
Derivative [Line Items] | ||||
Maximum remaining maturity of foreign currency derivatives | 2 years 6 months | 2 years 6 months | ||
Foreign currency debt | Euro Denominated | ||||
Derivative [Line Items] | ||||
Notional amount included in designated foreign currency denominated debt | $ 2,121,900,000 | € 1,905.7 | $ 2,049,700,000 | € 1,938.6 |
X | ||||||||||
- Definition The aggregate fair value of additional assets that would be required to be posted as collateral for derivative instruments with credit-risk-related contingent features if the credit-risk-related contingent features were triggered at the end of the reporting period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition The aggregate fair value of assets that are already posted, at the end of the reporting period, as collateral for derivative instruments with credit-risk-related contingent features. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition The aggregate fair value amounts of derivative instruments that contain credit-risk-related contingent features that are in a net liability position at the end of the reporting period. For nonderivative instruments that are designated and qualify as hedging instruments, the fair value amounts are the carrying value of the nonderivative hedging instrument, including the adjustment for the foreign currency transaction gain (loss) on that instrument. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Maximum amount of time remaining before foreign currency exchange rate derivatives mature or expire, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
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X | ||||||||||
- Definition Nominal or face amount used to calculate payments on a nonderivative instrument. No definition available.
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Amount after tax of income (loss) from continuing operations attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Amount after tax of income (loss) from a discontinued operation attributable to the parent. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Per basic share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Per diluted share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of share based payment arrangements using the treasury stock method. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- References No definition available.
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Income Taxes (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Income of U.S. and Foreign Operations Before Taxes | The table below summarizes income from U.S. and foreign operations before taxes:
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Schedule of Components of Income Tax Expense (Benefit) | The table below details the components of our income tax provision:
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Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the differences between the United States federal statutory tax rate and the effective tax rate is provided below:
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Schedule of Components of Deferred Tax Assets and Liabilities | The significant components of deferred tax assets and liabilities are as follows:
Deferred tax assets and liabilities are included within the consolidated balance sheets as follows:
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Schedule of Deferred Tax Assets for Certain Tax Credits | As of 30 September 2024, we had the following deferred tax assets for certain tax credits:
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Summary of Tax Credit Carryforwards | As of 30 September 2024, we had the following loss carryforwards:
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Schedule of Reconciliation of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of the unrecognized tax benefits, which excludes interest and penalties, is as follows:
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Schedule of Income Tax Examinations | We generally remain subject to examination in the following major tax jurisdictions for the years indicated below:
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X | ||||||||||
- Definition Schedule Of Deferred Tax Assets For Tax Credits [Table Text Block] No definition available.
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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X | ||||||||||
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition Tabular disclosure of the change in unrecognized tax benefits. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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X | ||||||||||
- Definition Tabular disclosure of income tax examinations that an enterprise is currently subject to or that have been completed in the current period typically including a description of the examination, the jurisdiction conducting the examination, the tax year(s) under examination, the likelihood of an unfavorable settlement, the range of possible losses, the liability recorded, the increase or decrease in the liability from the prior period, and any penalties and interest that have been recorded. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Tabular disclosure of pertinent information, such as tax authority, amounts, and expiration dates, of net operating loss carryforwards, including an assessment of the likelihood of utilization. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Income Taxes (Components of the Income Taxes Provision) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
Current Tax Provision | |||
Federal | $ 550.3 | $ 167.6 | $ 149.1 |
State | 109.2 | 41.0 | 30.1 |
Foreign | 354.7 | 367.3 | 289.3 |
Total current tax provision | 1,014.2 | 575.9 | 468.5 |
Deferred Tax (Benefit) Provision | |||
Federal | (97.8) | (12.5) | 15.6 |
State | (15.0) | (5.8) | (1.9) |
Foreign | 43.5 | (6.4) | 18.6 |
Total Deferred Tax (Benefit) Provision | (69.3) | (24.7) | 32.3 |
Total Income Tax Provision | $ 944.9 | $ 551.2 | $ 500.8 |
X | ||||||||||
- Definition Amount of current federal tax expense (benefit) attributable to income (loss) from continuing operations. Includes, but is not limited to, current national tax expense (benefit) for non-US (United States of America) jurisdiction. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition Amount of current foreign income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition Amount of current state and local tax expense (benefit) attributable to income (loss) from continuing operations. Includes, but is not limited to, current regional, territorial, and provincial tax expense (benefit) for non-US (United States of America) jurisdiction. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition Amount of deferred federal tax expense (benefit) attributable to income (loss) from continuing operations. Includes, but is not limited to, deferred national tax expense (benefit) for non-US (United States of America) jurisdiction. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Amount of deferred foreign income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of deferred state and local tax expense (benefit) attributable to income (loss) from continuing operations. Includes, but is not limited to, deferred regional, territorial, and provincial tax expense (benefit) for non-US (United States of America) jurisdiction. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Business Segment and Geographic Information (Reconciliation of Equity Affiliates' Income) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
Segment Reporting Information [Line Items] | |||
Equity affiliates' income | $ 647.7 | $ 604.3 | $ 481.5 |
Equity method investment impairment charge | (14.8) | ||
Segment Reconciling Items | |||
Segment Reporting Information [Line Items] | |||
Equity method investment impairment charge | 0.0 | 0.0 | (14.8) |
Segment Total | |||
Segment Reporting Information [Line Items] | |||
Equity affiliates' income | $ 647.7 | $ 604.3 | $ 496.3 |
X | ||||||||||
- Definition Amount of other-than-temporary decline in value that has been recognized against investment accounted for under equity method of accounting. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition Amount of income (loss) for proportionate share of equity method investee's income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
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- Details
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- Details
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Discontinued Operations (Narrative) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
Discontinued Operations and Disposal Groups [Abstract] | |||
Pre-tax loss from discontinued operations | $ 19.4 | ||
Net (loss) income from discontinued operations | (13.9) | $ 7.4 | $ 12.6 |
Cash provided by discontinued operations, tax refund | $ 0.0 | $ 0.6 | $ 59.6 |
X | ||||||||||
- Definition Amount of cash inflow (outflow) of operating activities of discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Amount before tax of income (loss) from a discontinued operation. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount after tax of income (loss) from a discontinued operation attributable to the parent. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Retirement Benefits (Narrative) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
Defined Benefit Plan Disclosure [Line Items] | |||
Shares of common stock in ESOP | 1,690,227 | ||
Defined contribution plan cost recognized | $ 82.6 | $ 71.5 | $ 60.6 |
Pension and postretirement benefits, current | $ 11.3 | 9.6 | |
U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Expected return on plan assets | 5.80% | ||
International | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Expected return on plan assets | 4.30% | ||
U.K. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Expected return on plan assets | 4.30% | ||
Percentage of plan assets as component of total international plan assets | 80.00% | ||
Defined Benefit Pension Plan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Pension settlement loss | $ 2.3 | 2.0 | 6.2 |
ABO for all defined benefit pension plans | 3,860.4 | 3,429.1 | |
ABO for plans with obligation in excess plan assets | 55.4 | ||
PBO for plans with obligation in excess of plan assets | 59.9 | ||
Company contributions | 34.7 | ||
Defined Benefit Pension Plan | Minimum | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Anticipated contributions for next fiscal year | 30.0 | ||
Defined Benefit Pension Plan | Maximum | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Anticipated contributions for next fiscal year | 40.0 | ||
Defined Benefit Pension Plan | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Pension settlement loss | $ 1.1 | 1.4 | $ 6.0 |
Amortization period based on approximate average remaining service period | 6 years | ||
ABO for plans with obligation in excess plan assets | $ 2,394.5 | 47.1 | |
PBO for plans with obligation in excess of plan assets | $ 2,446.5 | $ 2,194.5 | |
Expected return on plan assets | 5.80% | 5.80% | 5.80% |
Company contributions | $ 7.3 | $ 8.4 | |
Obligation at end of year | 2,613.1 | 2,348.8 | $ 2,450.8 |
Pension and postretirement benefits, current | 7.3 | 5.3 | |
Losses arising during the period | 11.9 | (2.6) | |
Amortization of net actuarial gain | (58.4) | (61.1) | |
Net actuarial gain on pretax basis | (415.3) | (461.8) | |
Defined Benefit Pension Plan | International | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Pension settlement loss | 1.2 | 0.6 | $ 0.2 |
ABO for plans with obligation in excess plan assets | 139.8 | 144.3 | |
PBO for plans with obligation in excess of plan assets | $ 326.1 | $ 295.1 | |
Expected return on plan assets | 4.30% | 4.20% | 4.00% |
Company contributions | $ 27.4 | $ 24.2 | |
Obligation at end of year | 1,338.7 | 1,162.4 | $ 1,137.5 |
Pension and postretirement benefits, current | 0.9 | 0.6 | |
Losses arising during the period | (56.5) | 7.0 | |
Amortization of net actuarial gain | (14.1) | (12.2) | |
Net actuarial gain on pretax basis | $ (435.8) | (506.4) | |
Defined Benefit Pension Plan | U.K. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Amortization period based on approximate average remaining life expectancy | 22 years | ||
Other Postretirement Benefits Plan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Obligation at end of year | $ 12.0 | 14.0 | |
Pension and postretirement benefits, current | 3.1 | 3.7 | |
Losses arising during the period | 1.7 | 0.1 | |
Amortization of net actuarial gain | 0.5 | 2.0 | |
Net actuarial gain on pretax basis | $ 0.2 | $ 2.4 |
X | ||||||||||
- Definition The period over which actuarial gains and losses are amortized based on average remaining life expectancy No definition available.
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X | ||||||||||
- Definition The period over which actuarial gains and losses are amortized based on average remaining service period. No definition available.
|
X | ||||||||||
- Definition Percentage of plan assets for specific geographic region as a percent of total international plan assets. No definition available.
|
X | ||||||||||
- Definition Amount of actuarial present value of benefits attributed to employee service rendered, excluding assumptions about future compensation level. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, before tax, of accumulated other comprehensive income (loss) for gain (loss) of defined benefit plan, that has not been recognized in net periodic benefit (cost) credit. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Weighted average rate of return on plan assets, reflecting average rate of earnings expected on existing plan assets and expected contributions, used to determine net periodic benefit cost of defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Amount of actuarial present value of benefits attributed to service rendered by employee for defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Amount of contribution received by defined benefit plan from employer which increases plan assets. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Amount of contribution expected to be received by defined benefit plan from employer in next fiscal year following current fiscal year. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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X | ||||||||||
- Definition Amount of projected benefit obligation for defined benefit pension plan with projected benefit obligation in excess of plan assets. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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X | ||||||||||
- Definition Amount of accumulated benefit obligation for defined benefit plan with accumulated benefit obligation in excess of plan assets. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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X | ||||||||||
- Definition Amount of gain (loss) recognized in net periodic benefit (cost) credit from irrevocable action relieving primary responsibility for benefit obligation and eliminating risk related to obligation and assets used to effect settlement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Amount of cost for defined contribution plan. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Sum of the allocated, committed-to-be-released and suspense shares of the entity held by the plan. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount, before tax, of gain (loss) for (increase) decrease in value of benefit obligation for change in actuarial assumptions and increase (decrease) in value of plan assets from experience different from that assumed of defined benefit plan, that has not been recognized in net periodic benefit (cost) credit. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Amount, before tax, of reclassification adjustment from accumulated other comprehensive income (loss) for gain (loss) of defined benefit plan. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount of liability, recognized in statement of financial position, for defined benefit pension and other postretirement plans, classified as current. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Details
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- Details
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- Details
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- Details
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- Details
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- Details
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- Details
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Consolidated Balance Sheets - USD ($) $ in Millions |
Sep. 30, 2024 |
Sep. 30, 2023 |
||
---|---|---|---|---|
Current Assets | ||||
Cash and cash items | $ 2,979.7 | $ 1,617.0 | ||
Short-term investments | 5.0 | 332.2 | ||
Trade receivables, net | 1,821.6 | 1,700.4 | ||
Inventories | 766.0 | 651.8 | ||
Prepaid expenses | 179.9 | 177.0 | ||
Other receivables and current assets | 610.8 | 722.1 | ||
Total Current Assets | 6,363.0 | 5,200.5 | ||
Investment in net assets of and advances to equity affiliates | 4,792.5 | 4,617.8 | ||
Plant and equipment, net | 23,370.9 | 17,472.1 | ||
Goodwill, net | 905.1 | 861.7 | ||
Intangible assets, net | 311.6 | 334.6 | ||
Operating lease right-of-use assets, net | 1,047.7 | 974.0 | ||
Noncurrent lease receivables | 392.1 | 494.7 | ||
Financing receivables | 1,220.2 | 817.2 | ||
Other noncurrent assets | 1,171.5 | 1,229.9 | ||
Total Noncurrent Assets | 33,211.6 | 26,802.0 | ||
Total Assets | [1] | 39,574.6 | 32,002.5 | |
Current Liabilities | ||||
Payables and accrued liabilities | 2,926.2 | 2,890.1 | ||
Accrued income taxes | 558.5 | 131.2 | ||
Short-term borrowings | 83.5 | 259.5 | ||
Current portion of long-term debt | 611.4 | 615.0 | ||
Total Current Liabilities | 4,179.6 | 3,895.8 | ||
Noncurrent operating lease liabilities | 677.9 | 631.1 | ||
Other noncurrent liabilities | 1,350.5 | 1,118.0 | ||
Deferred income taxes | 1,159.9 | 1,266.0 | ||
Total Noncurrent Liabilities | 16,721.3 | 12,446.4 | ||
Total Liabilities | [1] | 20,900.9 | 16,342.2 | |
Commitments and Contingencies - See Note 19 | ||||
Air Products Shareholders’ Equity | ||||
Common stock (par value $1 per share; issued 2024 and 2023 - 249,455,584 shares) | 249.4 | 249.4 | ||
Capital in excess of par value | 1,253.2 | 1,190.5 | ||
Retained earnings | 19,545.7 | 17,289.7 | ||
Accumulated other comprehensive loss | (2,027.7) | (2,449.4) | ||
Treasury stock, at cost (2024 - 27,083,166 shares; 2023 - 27,255,739 shares) | (1,984.1) | (1,967.3) | ||
Total Air Products Shareholders' Equity | 17,036.5 | 14,312.9 | ||
Noncontrolling interests | [1] | 1,637.2 | 1,347.4 | |
Total Equity | 18,673.7 | 15,660.3 | ||
Total Liabilities and Equity | 39,574.6 | 32,002.5 | ||
Nonrelated Party | ||||
Current Liabilities | ||||
Less: Long-term debt – related party | 13,428.6 | 9,280.6 | ||
Related Party | ||||
Current Assets | ||||
Trade receivables, net | 120.0 | 80.0 | ||
Current Liabilities | ||||
Less: Long-term debt – related party | $ 104.4 | $ 150.7 | ||
|
X | ||||||||||
- Definition Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, after allowance for credit loss, of right to consideration from customer for product sold and service rendered in normal course of business, classified as current. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all currently due domestic and foreign income tax obligations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Amount, after tax, of accumulated increase (decrease) in equity from transaction and other event and circumstance from nonowner source. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Amount of asset recognized for present right to economic benefit. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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X | ||||||||||
- Definition Amount of asset recognized for present right to economic benefit, classified as current. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences with jurisdictional netting. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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X | ||||||||||
- Definition Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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X | ||||||||||
- Definition Amount of investment in equity method investee and investment in and advance to affiliate. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Amount of liability recognized for present obligation requiring transfer or otherwise providing economic benefit to others. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Definition Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of obligation due after one year or beyond the normal operating cycle, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount of long-term debt and lease obligation, classified as noncurrent. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount of long-term debt and lease obligation, classified as current. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Amount of equity (deficit) attributable to noncontrolling interest. Excludes temporary equity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Amount excluding accrued interest, after allowance for credit loss, of net investment in sales-type and direct financing leases, classified as noncurrent. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition Amortized cost, after allowance for credit loss, of financing receivable. Excludes financing receivable covered under loss sharing agreement and net investment in lease. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition Present value of lessee's discounted obligation for lease payments from operating lease, classified as noncurrent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Amount of lessee's right to use underlying asset under operating lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Amount of current assets classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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X | ||||||||||
- Definition Amount of noncurrent assets classified as other. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Amount of liabilities classified as other, due after one year or the normal operating cycle, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Amount of asset related to consideration paid in advance for costs that provide economic benefits within a future period of one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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X | ||||||||||
- Definition Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Amount of accumulated undistributed earnings (deficit). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Reflects the total carrying amount as of the balance sheet date of debt having initial terms less than one year or the normal operating cycle, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Amount of investments including trading securities, available-for-sale securities, held-to-maturity securities, and short-term investments classified as other and current. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount allocated to previously issued common shares repurchased by the issuing entity and held in treasury. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
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- Details
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Plant and Equipment, Net |
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Sep. 30, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Plant and Equipment, Net | PLANT AND EQUIPMENT, NET The major classes of plant and equipment are as follows:
(A)Depreciable lives of production facilities related to long-term customer supply contracts are generally matched to the contract lives. (B)The depreciable lives for various types of distribution equipment are: 10 to 25 years for cylinders, depending on the nature and properties of the product; 20 years for tanks; generally 7.5 years for customer stations; and 5 to 15 years for tractors and trailers. Depreciation expense was $1,419.6, $1,325.8, and $1,302.7 in fiscal years 2024, 2023, and 2022, respectively.
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X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Commitments and Contingencies (Tables) |
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Sep. 30, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Change in Asset Retirement Obligation | Changes to the carrying amount of our asset retirement obligations were as follows:
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Schedule of Unconditional Purchase Obligations Disclosure | We are obligated to make future payments under unconditional purchase obligations as summarized below:
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition Tabular disclosure of the changes in carrying amount of a liability for asset retirement obligations, for changes such as new obligations, changes in estimates of existing obligations, spending on existing obligations, property dispositions, and foreign currency translation. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition Tabular disclosure of unconditional purchase obligation not recognized as liability. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Income Taxes |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Taxes | INCOME TAXES The table below summarizes income from U.S. and foreign operations before taxes:
The table below details the components of our income tax provision:
Cash Paid for Taxes (Net of Cash Refunds) Income tax payments, net of refunds, were $615.9, $645.2, and $369.2 in fiscal years 2024, 2023, and 2022, respectively. Fiscal year 2023 and 2022 reflect income tax refunds associated with discontinued operations of $0.6 and $59.6, respectively. Income tax payments for fiscal year 2024 include cash paid to purchase $50.0 of transferable tax credits that were used to offset estimated tax payments in 2024. Additional income tax payments related to the gain on the sale of the LNG business will be paid in fiscal year 2025. U.S. Tax Cuts and Jobs Act On 22 December 2017, the United States enacted the U.S. Tax Cuts and Jobs Act (the “Tax Act” or "Tax Reform"), which significantly changed existing U.S. tax laws, including a reduction in the federal corporate income tax rate to 21%, a deemed repatriation tax on unremitted foreign earnings, as well as other changes. As of 30 September 2024, our outstanding liability for the deemed repatriation tax was $101.8, of which $60.8 is presented within noncurrent liabilities on our consolidated balance sheets. We are paying this obligation in installments over two remaining years. Effective Tax Rate The effective tax rate equals the income tax provision divided by income from continuing operations before taxes. A reconciliation of the differences between the United States federal statutory tax rate and the effective tax rate is provided below:
The sale of our LNG business resulted in a gain of $1,575.6, which increased our income from continuing operations before taxes. This increase diluted the impact of recurring effective tax rate reconciling items for fiscal year 2024. Equity affiliates’ income, which is primarily presented net of income taxes on our consolidated income statements, favorably impacts our effective tax rate. This impact decreased in fiscal year 2024 despite an overall increase in equity affiliates' income. The reduced impact is the result of the increase in our income from continuing operations before taxes caused primarily by the sale of our LNG business. See Note 10, Equity Affiliates, for additional information. Foreign tax differentials represent the differences between foreign earnings subject to foreign tax rates that are different than the U.S. federal statutory rate and include tax holidays and incentives. Our income tax holidays relate to operations in jurisdictions that provide reduced income tax rates for certain qualifying activities and are conditioned upon us satisfying certain requirements. Tax on foreign repatriated earnings includes costs related to U.S. taxation of foreign operations, foreign taxation on the current and future repatriation of foreign earnings, and a U.S. benefit for related foreign tax credits. The impact has decreased primarily due to an increase in our U.S. benefit for foreign tax credits. Share-based compensation reflects the impact from recognition of $3.6, $10.2, and $18.3 of excess tax benefits in our provision for income taxes during fiscal years 2024, 2023, and 2022, respectively. During fiscal year 2023, we recorded a charge to net income for business and asset actions of $244.6 ($204.9 attributable to Air Products after tax). Refer to Note 5, Business and Asset Actions, for additional information. The charge included certain losses for which we could not recognize an income tax benefit and were subject to a valuation allowance of $36.0. Partially offsetting the valuation allowance cost was a $15.9 income tax benefit from a tax election related to a non-U.S. subsidiary. Fiscal year 2024 includes business and asset actions recorded at applicable statutory income tax rates. Deferred Tax Assets and Liabilities The significant components of deferred tax assets and liabilities are as follows:
Deferred tax assets and liabilities are included within the consolidated balance sheets as follows:
Deferred tax assets for "Tax loss carryforwards" decreased primarily due to the utilization of substantially all U.S. capital losses carryforwards against the gain on sale of our LNG business. The deferred tax assets for "Reserves and accruals" were impacted by changes in tax deferred deductions. Deferred tax assets for "Currency losses" changed from "Currency gains" in the prior year primarily due to movements in unrealized foreign currency losses for income tax purposes. Deferred tax assets for "Revenue recognition" increased primarily due to timing differences on proceeds associated with the sale of the LNG business. Deferred tax liabilities related to "Plant and equipment" increased due to the impact of accelerated tax depreciation deductions in excess of book depreciation. Deferred tax liabilities related to "Intangible assets" decreased primarily due to the impact of capitalizing research and development expenditures for U.S tax purposes. "Unremitted earnings of foreign entities" increased primarily due to the realization of an income tax benefit from a tax election related to a non-U.S. subsidiary that was a deferred benefit in the prior year. As of 30 September 2024, we had the following deferred tax assets for certain tax credits:
Of the $18.1 credits in foreign jurisdictions, $18.0 have indefinite carryforward periods. As of 30 September 2024, we had the following loss carryforwards:
Of the $347.3 of foreign net operating loss carryforwards, $99.7 have indefinite carryforward periods. The valuation allowance was $158.4 and $153.3 as of 30 September 2024 and 2023, respectively. As of 30 September 2024, the balance primarily related to $43.8 of foreign loss carryforwards and credits, $18.2 of U.S. federal foreign income tax credits, $53.5 related to foreign capital losses, and $39.9 related to other deferred tax assets including those established during fiscal year 2023 from our Business and Asset Actions. If events warrant the reversal of the valuation allowance, it would result in a reduction of tax expense. We believe it is more likely than not that future earnings and reversal of deferred tax liabilities will be sufficient to utilize our deferred tax assets, net of existing valuation allowance, as of 30 September 2024. We record income taxes on the undistributed earnings of our foreign subsidiaries and corporate joint ventures unless those earnings are indefinitely reinvested. Such earnings may be subject to foreign withholding and other taxes. The cumulative undistributed earnings that are considered to be indefinitely reinvested in foreign subsidiaries and corporate joint ventures are included in retained earnings on the consolidated balance sheets and amounted to $9.2 billion as of 30 September 2024. An estimated $845.3 in additional foreign withholding and other income taxes would be due if these earnings were remitted as dividends. Unrecognized Tax Benefits A reconciliation of the beginning and ending amount of the unrecognized tax benefits, which excludes interest and penalties, is as follows:
Of our unrecognized tax benefits as of 30 September 2024, $80.3 would impact the effective tax rate from continuing operations if recognized. In fiscal year 2022, reserves for unrecognized tax benefits decreased $25.5 due to statute of limitation expirations. We released reserves of $17.2 related to the sale of PMD. Upon release of the reserves, we recorded income tax benefits of $14.8 as a component of discontinued operations. The PMD reserve was net of related deferred tax assets of $2.4. In fiscal year 2023 we released an additional $5.2 of reserves related to the sale of PMD. Fiscal year 2022 also reflects a $15.4 reduction for tax positions of prior years. This was primarily due to a $10.6 reduction caused by changes to income tax rates. Interest and penalties related to unrecognized tax benefits are recorded as a component of income tax expense and totaled $1.8, $5.0, and $1.2 in fiscal years 2024, 2023, and 2022, respectively. Our accrued balance for interest and penalties was $28.5 and $26.3 as of 30 September 2024 and 2023, respectively. Income Tax Examinations We are currently under examination in a number of tax jurisdictions. It is reasonably possible that a change in our unrecognized tax benefits may occur in fiscal year 2025 if any of these examinations are resolved during the next twelve months. However, quantification of an estimated range cannot be made as of the date of this report. We generally remain subject to examination in the following major tax jurisdictions for the years indicated below:
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X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The entire disclosure for income tax. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Capital Stock (Common Stock Narrative) (Details) - USD ($) |
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
Sep. 30, 2021 |
Sep. 15, 2011 |
---|---|---|---|---|---|
Equity [Abstract] | |||||
Common stock, authorized shares | 300,000,000 | ||||
Common stock, par value (in dollars per share) | $ 1 | $ 1 | |||
Common stock, shares issued | 249,455,584 | 249,455,584 | |||
Common stock, shares outstanding | 222,372,418 | 222,199,845 | 221,838,696 | 221,396,755 | |
Share repurchase program authorized amount | $ 1,000,000,000.0 | ||||
Share repurchase authorization remaining amount | $ 485,300,000 |
X | ||||||||||
- Definition Amount authorized for purchase of share under share repurchase plan. Includes, but is not limited to, repurchase of stock and unit of ownership. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Face amount or stated value per share of common stock. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition Amount remaining authorized for purchase of share under share repurchase plan. Includes, but is not limited to, repurchase of stock and unit of ownership. No definition available.
|
Accumulated Other Comprehensive Loss (Reclassification) (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
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Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Sales | $ (12,100.6) | $ (12,600.0) | $ (12,698.6) | |
Cost of sales | 8,168.7 | 8,833.0 | 9,338.5 | |
Other non-operating income (expense), net | 73.8 | 39.0 | (62.4) | |
Gain on sale of business | $ (1,575.6) | (1,575.6) | 0.0 | 0.0 |
Business and asset actions | (57.0) | (244.6) | (73.7) | |
Income from discontinued operations, net of tax | 13.9 | (7.4) | (12.6) | |
Net income (loss) attributable to Air Products | (3,828.2) | (2,300.2) | (2,256.1) | |
Other income (expense), net | (58.2) | (34.8) | (55.9) | |
Reclassification out of Accumulated Other Comprehensive Income | (Gain) Loss on Cash Flow Hedges | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Sales | 0.0 | (0.5) | 0.5 | |
Cost of sales | 1.9 | 3.7 | (0.4) | |
Interest expense | 2.3 | 3.5 | 3.6 | |
Other non-operating income (expense), net | (37.9) | (50.6) | 87.7 | |
Net income (loss) attributable to Air Products | (33.7) | (43.9) | 91.4 | |
Reclassification out of Accumulated Other Comprehensive Income | Currency Translation Adjustment | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Gain on sale of business | (1.5) | 0.0 | 0.0 | |
Business and asset actions | 0.0 | (0.3) | 5.1 | |
Income from discontinued operations, net of tax | 0.0 | 0.0 | 2.2 | |
Net income (loss) attributable to Air Products | (1.5) | (0.3) | 7.3 | |
Reclassification out of Accumulated Other Comprehensive Income | Pension and Postretirement Benefits | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net income (loss) attributable to Air Products | $ 55.9 | $ 53.8 | $ 64.8 |
X | ||||||||||
- Definition Items which arise from transactions and events not directly related to the company's principal income earnings activities. Composed of income and expense activity that is secondary to the company's main business pursuits and includes, for example: Technology and royalty income, Interest income, Foreign exchange (gain)/loss, (Gain)/loss on the sale or disposal of assets/investments, and Insurance settlements, net of related expenses. No definition available.
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- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of gain (loss) from sale and disposal of integrated set of activities and assets capable of being conducted and managed for purpose of providing return in form of dividend, lower cost, or other economic benefit to investor, owner, member and participant. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount after tax of income (loss) from a discontinued operation including the portion attributable to the noncontrolling interest. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of interest expense classified as operating and nonoperating. Includes, but is not limited to, cost of borrowing accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Retirement Benefits (Components Recognized in Accumulated Other Comprehensive Income on Pretax Basis) (Details) - Defined Benefit Pension Plan - USD ($) $ in Millions |
Sep. 30, 2024 |
Sep. 30, 2023 |
---|---|---|
U.S. | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net actuarial loss | $ 415.3 | $ 461.8 |
Prior service cost | 5.8 | 5.6 |
Net transition liability | 0.0 | 0.0 |
Total | 421.1 | 467.4 |
International | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net actuarial loss | 435.8 | 506.4 |
Prior service cost | 11.0 | 11.9 |
Net transition liability | 0.4 | 0.4 |
Total | $ 447.2 | $ 518.7 |
X | ||||||||||
- Definition Amount, before tax, of accumulated other comprehensive (income) loss for defined benefit plan, that has not been recognized in net periodic benefit cost (credit). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, before tax, of accumulated other comprehensive income (loss) for gain (loss) of defined benefit plan, that has not been recognized in net periodic benefit (cost) credit. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, before tax, of accumulated other comprehensive (income) loss for cost (credit) of benefit change attributable to participants' prior service from plan amendment or plan initiation of defined benefit plan, that has not been recognized in net periodic benefit cost (credit). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, before tax, of accumulated other comprehensive income (loss) for transition asset (obligation) of defined benefit plan, that has not been recognized in net periodic benefit (cost) credit. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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Commitments and Contingencies (Litigation and Environmental Narrative) (Details) R$ in Millions |
1 Months Ended | 12 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2010
BRL (R$)
|
Sep. 30, 2024
USD ($)
site
|
Sep. 30, 2024
BRL (R$)
site
|
Sep. 30, 2023
USD ($)
|
|
Loss Contingencies [Line Items] | ||||
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration] | Other noncurrent liabilities | Other noncurrent liabilities | Other noncurrent liabilities | |
Disputed energy management charges | ||||
Loss Contingencies [Line Items] | ||||
Gain from Litigation Settlement | $ 7,700,000 | |||
Alleged Anticompete Litigation | ||||
Loss Contingencies [Line Items] | ||||
Civil fines imposed | R$ 179.2 | 33,000,000 | ||
Provision for litigation | 0 | |||
Maximum of loss contingency range subject to interest | $ 33,000,000 | R$ 179.2 | ||
Environmental | ||||
Loss Contingencies [Line Items] | ||||
Approximate number of sites on which settlement has not been reached | site | 26 | 26 | ||
Accrual for environmental loss contingencies | $ 79,100,000 | $ 64,500,000 | ||
Accrual for environmental loss contingencies, maximum payout period | 30 years | 30 years | ||
Site contingency, cost review, period | 5 years | 5 years | ||
Environmental | Minimum | ||||
Loss Contingencies [Line Items] | ||||
Estimate of possible exposure from environment loss contingencies | $ 79,000,000 | |||
Environmental | Maximum | ||||
Loss Contingencies [Line Items] | ||||
Estimate of possible exposure from environment loss contingencies | $ 92,000,000 |
X | ||||||||||
- Definition The estimated maximum amount of possible loss from contingency related to legal matter(s), excluding interest to be accrued thereon. No definition available.
|
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- Definition Site Contingency, Cost Review, Period No definition available.
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- Definition Environmental sites on which a final settlement has not been reached where, along with others, the Company has been designated a potentially responsible party by the Environmental Protection Agency or are otherwise engaged in investigation or remediation, including cleanup activity at certain of the Company's current and former manufacturing sites No definition available.
|
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- Definition Total costs accrued as of the balance sheet date for environmental loss contingencies. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Indicates line item in statement of financial position that includes accrual for environmental loss contingency. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of gain (loss) recognized in settlement of litigation and insurance claims. Excludes claims within an insurance entity's normal claims settlement process. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The value (monetary amount) of the award the plaintiff seeks in the legal matter. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
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- Definition Reflects the estimated amount of loss from the specified contingency as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
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- Definition The amount of loss pertaining to the specified contingency that was charged against earnings in the period, including the effects of revisions in previously reported estimates. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
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- Definition Period of disbursement over which accrued amount may be paid out for an individual site or group of sites, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Financial Instruments (Currency Price Risk Management Instruments) (Details) - Forward exchange contracts - USD ($) $ in Millions |
12 Months Ended | |
---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
|
Derivative [Line Items] | ||
Notional Principal amount | $ 6,794.6 | $ 6,036.6 |
Years Average Maturity | 9 months 18 days | 10 months 24 days |
Designated as Hedging Instrument | Cash flow hedges | ||
Derivative [Line Items] | ||
Notional Principal amount | $ 4,003.2 | $ 4,463.2 |
Years Average Maturity | 7 months 6 days | 8 months 12 days |
Designated as Hedging Instrument | Net investment hedges | ||
Derivative [Line Items] | ||
Notional Principal amount | $ 911.4 | $ 864.0 |
Years Average Maturity | 2 years 6 months | 2 years 6 months |
Not Designated as Hedging Instrument | ||
Derivative [Line Items] | ||
Notional Principal amount | $ 1,880.0 | $ 709.4 |
Years Average Maturity | 3 months 18 days | 3 months 18 days |
X | ||||||||||
- Definition Average remaining period until maturity of the derivative contract, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Nominal or face amount used to calculate payment on derivative. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Income Taxes (Narrative) (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
Income Taxes [Line Items] | ||||
Cash paid for taxes (net of cash refunds) | $ 615.9 | $ 645.2 | $ 369.2 | |
Cash provided by operating activities | 0.0 | $ 0.6 | $ 59.6 | |
Income tax paid, tax credit | $ 50.0 | |||
U.S. federal statutory tax rate | 21.00% | 21.00% | 21.00% | |
Deemed repatriation tax obligation after application of foreign tax credits | $ 101.8 | $ 101.8 | ||
Deemed repatriation tax obligation in noncurrent liabilities | 60.8 | $ 60.8 | $ 109.4 | |
Deemed repatriation tax obligation in noncurrent liabilities, payment period | 2 years | |||
Gain on sale of business | 1,575.6 | $ 1,575.6 | 0.0 | $ 0.0 |
Excess tax benefits from share-based compensation | 3.6 | 10.2 | 18.3 | |
Business and asset actions | 57.0 | 244.6 | 73.7 | |
Business and asset actions attributable to Air Products after tax | 43.8 | 204.9 | 61.0 | |
Valuation allowance against deferred tax assets | 36.0 | 36.0 | ||
Income (Loss) from Subsidiaries, Tax Expense (Benefit) | 15.9 | |||
Deferred tax assets, valuation allowance | 158.4 | 158.4 | 153.3 | |
Federal foreign income tax credits | 18.2 | 18.2 | ||
Cumulative undistributed earnings | 9,200.0 | 9,200.0 | ||
U.S. Income and foreign withholding taxes estimate | 845.3 | 845.3 | ||
Unrecognized tax benefits that would impact effective tax rate | 80.3 | 80.3 | ||
Reserves for unrecognized tax benefits decrease due to statute of limitations expiration | 9.9 | 10.6 | 25.5 | |
Reductions for tax positions of prior years | (0.3) | (6.0) | (15.4) | |
Reduction caused by changes to income tax rates | (10.6) | |||
Interest and penalties related to unrecognized tax benefits | 1.8 | 5.0 | 1.2 | |
Accrued interest and penalties | 28.5 | 28.5 | 26.3 | |
Foreign Loss Carryforwards | ||||
Income Taxes [Line Items] | ||||
Deferred tax assets, valuation allowance | 43.8 | 43.8 | ||
Foreign Capital Losses | ||||
Income Taxes [Line Items] | ||||
Deferred tax assets, valuation allowance | 53.5 | 53.5 | ||
Other Charges from Business and Asset Actions | ||||
Income Taxes [Line Items] | ||||
Deferred tax assets, valuation allowance | 39.9 | 39.9 | ||
U.S. Federal | ||||
Income Taxes [Line Items] | ||||
Tax credit carryforwards | 19.7 | 19.7 | ||
Foreign | ||||
Income Taxes [Line Items] | ||||
Tax credit carryforwards | 18.1 | 18.1 | ||
Indefinite tax credit carryforwards | 18.0 | 18.0 | ||
Operating loss carryforwards | 347.3 | 347.3 | ||
Operating loss carryforwards not subject to expiration | $ 99.7 | $ 99.7 | ||
PMD | Discontinued Operations | ||||
Income Taxes [Line Items] | ||||
Tax benefit related to release of reserves | 14.8 | |||
Discontinued operations | PMD | ||||
Income Taxes [Line Items] | ||||
Reserves for unrecognized tax benefits decrease due to statute of limitations expiration | $ 5.2 | 17.2 | ||
Related deferred tax assets | $ 2.4 |
X | ||||||||||
- Definition Income Tax Paid, Tax Credit No definition available.
|
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition The portion of expenses associated with exit or disposal activities pursuant to an authorized plan, net of income taxes, that is attributable to the parent. Excludes expenses related to a discontinued operation or an asset retirement obligation. No definition available.
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- Definition The amount of the tax credit carryforward, before tax effects, available to reduce future taxable income under enacted tax laws, not subject to expiration. No definition available.
|
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- Definition Tax Cuts and Jobs Act, Transition Tax for Accumulated Foreign Earnings, Liability, Payment Period No definition available.
|
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- Definition Amount of decrease in unrecognized tax benefits resulting from changes to income tax rates. No definition available.
|
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- Definition Unrecognized Tax Benefits, Release Of Reserve, Related Deferred Tax Assets No definition available.
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- Definition Amount of cash inflow (outflow) of operating activities of discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible operating loss carryforwards that are not subject to expiration dates. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible foreign tax credit carryforwards. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from restructuring reserve. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of deferred tax liability not recognized because of the exceptions to comprehensive recognition of deferred taxes related to undistributed earnings of foreign subsidiaries. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Percentage of domestic federal statutory tax rate applicable to pretax income (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying domestic federal statutory income tax rate to pretax income (loss) from continuing operation, attributable to expense for award under share-based payment arrangement. Excludes expense determined to be nondeductible upon grant or after for award under share-based payment arrangement. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of gain (loss) from sale and disposal of integrated set of activities and assets capable of being conducted and managed for purpose of providing return in form of dividend, lower cost, or other economic benefit to investor, owner, member and participant. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of income tax expense (benefit) on income (loss) of subsidiary attributable to the parent entity. No definition available.
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- Definition Amount, after refund, of cash paid to foreign, federal, state, and local jurisdictions as income tax. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of operating loss carryforward, before tax effects, available to reduce future taxable income under enacted tax laws. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of increase (decrease) to previously recorded tax expense. Includes, but is not limited to, significant settlements of income tax disputes, and unusual tax positions or infrequent actions taken by the entity, including tax assessment reversal, and IRS tax settlement. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of the tax credit carryforward, before tax effects, available to reduce future taxable income under enacted tax laws. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of tax liability from transition tax on accumulated earnings of controlled foreign corporation deemed repatriated pursuant to Tax Cuts and Jobs Act. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of tax liability from transition tax on accumulated earnings of controlled foreign corporation deemed repatriated pursuant to Tax Cuts and Jobs Act, classified as noncurrent. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of undistributed earnings of foreign subsidiaries intended to be permanently reinvested outside the country of domicile. Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
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- Definition Amount of decrease in unrecognized tax benefits resulting from tax positions taken in prior period tax returns. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount accrued for interest on an underpayment of income taxes and penalties related to a tax position claimed or expected to be claimed in the tax return. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of expense for interest on an underpayment of income taxes and penalties related to a tax position claimed or expected to be claimed in the tax return. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
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- Definition Amount of decrease in unrecognized tax benefits resulting from lapses of applicable statutes of limitations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Variable Interest Entities - JIGPC Joint Venture (Details) - USD ($) $ in Millions |
3 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Sep. 30, 2024 |
Sep. 30, 2023 |
|
Jazan Integrated Gasification and Power Company ("JIGPC") | |||
Variable Interest Entity [Line Items] | |||
Ownership interest (percent) in former equity method investment | 55.00% | 55.00% | |
Investment balance | $ 2,871.2 | $ 2,862.2 | |
Jazan Integrated Gasification and Power Company ("JIGPC") | Non-controlling Interests | |||
Variable Interest Entity [Line Items] | |||
Ownership percentage attributable to noncontrolling partner | 4.00% | 4.00% | |
Aramco | Jazan Integrated Gasification and Power Company ("JIGPC") | |||
Variable Interest Entity [Line Items] | |||
Term of project agreement | 25 years |
X | ||||||||||
- Definition The percentage of ownership of common stock or equity participation in the investee, attributable to noncontrolling party, accounted for under the equity method of accounting. No definition available.
|
X | ||||||||||
- Definition Term Of Project Agreement No definition available.
|
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- Definition The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Basis of Presentation and Major Accounting Policies (Allowance for Doubtful Accounts) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
Allowance for Credit Losses | |||
Beginning balance | $ 22.9 | $ 24.1 | $ 25.1 |
Provision for credit losses | 10.7 | 8.2 | 7.5 |
Write-offs charged against the allowance | (8.5) | (7.9) | (7.9) |
Currency translation and other | 1.2 | (1.5) | (0.6) |
Ending balance | $ 26.3 | $ 22.9 | $ 24.1 |
X | ||||||||||
- Definition Amount of increase (decrease) in allowance for credit loss on accounts receivable from foreign currency translation adjustments and other. No definition available.
|
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- Definition Amount of allowance for credit loss on accounts receivable. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
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- Definition Amount of direct write-downs of accounts receivable charged against the allowance. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
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- Definition Amount of expense (reversal of expense) for expected credit loss on accounts receivable. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
Income Taxes (Significant Components of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Millions |
Sep. 30, 2024 |
Sep. 30, 2023 |
---|---|---|
Gross Deferred Tax Assets | ||
Tax loss carryforwards | $ 132.2 | $ 141.8 |
Revenue recognition | 100.3 | 38.8 |
Reserves and accruals | 83.1 | 65.2 |
Retirement benefits and compensation accruals | 62.5 | 75.2 |
Tax credits and other tax carryforwards | 45.5 | 46.2 |
Currency losses | 12.6 | 0.0 |
Valuation allowance | (158.4) | (153.3) |
Other | 44.6 | 42.5 |
Deferred Tax Assets | 322.4 | 256.4 |
Gross Deferred Tax Liabilities | ||
Plant and equipment | 1,205.8 | 1,192.0 |
Currency gains | 0.0 | 20.6 |
Unremitted earnings of foreign entities | 103.4 | 72.0 |
Partnership and other investments | 19.2 | 18.6 |
Intangible assets | 17.3 | 48.5 |
Other | 8.8 | 11.1 |
Deferred Tax Liabilities | 1,354.5 | 1,362.8 |
Net Deferred Income Tax Liability | $ 1,032.1 | $ 1,106.4 |
X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to tax credits and other tax carryforwards. No definition available.
|
X | ||||||||||
- Definition Amount of deferred tax liability attributable to taxable temporary differences. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from deferred income. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible operating loss carryforwards. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Amount, before allocation of valuation allowance, of deferred tax asset attributable to deductible temporary differences, classified as other. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from compensation and benefits costs. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from reserves and accruals. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from unrealized losses on foreign currency transactions. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences without jurisdictional netting. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of deferred tax liability attributable to taxable temporary differences from intangible assets other than goodwill. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Amount of deferred tax liability attributable to taxable temporary differences from investments in unconsolidated subsidiaries and investments in other affiliates which are not controlled nor consolidated. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Amount of deferred tax liability attributable to taxable temporary differences classified as other. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Amount of deferred tax liability attributable to taxable temporary differences from property, plant, and equipment. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Amount of deferred tax liability attributable to taxable temporary differences from undistributed earnings of subsidiary and other recognized entity not within country of domicile. Includes, but is not limited to, other basis differences. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Amount of deferred tax liability attributable to taxable temporary differences from unrealized gains on foreign currency transactions. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
Discontinued Operations |
12 Months Ended |
---|---|
Sep. 30, 2024 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Discontinued Operations | DISCONTINUED OPERATIONS During the fourth quarter of fiscal year 2024, we recorded a pre-tax loss from discontinued operations of $19.4 ($13.9 after tax) to increase our existing liability for retained environmental remediation obligations associated with the sale of our former Amines business in September 2006. Refer to the "Pace" discussion within Note 19, Commitments and Contingencies, for additional information. The loss did not have an impact on our statement of cash flows for the fiscal year ended 30 September 2024. In fiscal year 2023, income from discontinued operations, net of tax, of $7.4 primarily resulted from a net tax benefit recorded in the fourth quarter upon release of tax liabilities for uncertain tax positions taken with respect to the sale of our former Performance Materials Division ("PMD"), which was completed in 2017. Additionally, our consolidated statement of cash flows for the fiscal year ended 30 September 2023 reflected cash provided by operating activities of discontinued operations of $0.6 from income tax refunds associated with the sale. In fiscal year 2022, income from discontinued operations, net of tax, of $12.6 primarily resulted from a net tax benefit recorded in the fourth quarter upon release of tax liabilities for uncertain tax positions taken with respect to the sale of PMD. Additionally, our consolidated statement of cash flows for the fiscal year ended 30 September 2022 reflected cash provided by operating activities of discontinued operations of $59.6 primarily from income tax refunds associated with the sale.
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
Basis of Presentation and Major Accounting Policies (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Changes in Carrying Amount of Allowance for Doubtful Accounts | Changes to the carrying amount of the allowance for credit losses on trade receivables are summarized below:
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of allowance for credit loss on accounts receivable. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
Variable Interest Entities- NGHC Joint Venture (Details) - USD ($) $ in Millions |
1 Months Ended | 3 Months Ended | 12 Months Ended | |||
---|---|---|---|---|---|---|
May 31, 2023 |
Sep. 30, 2024 |
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
Jun. 30, 2024 |
|
Variable Interest Entity [Line Items] | ||||||
Short-term borrowings | $ 83.5 | $ 83.5 | $ 259.5 | |||
Operating lease right-of-use assets, net | 1,047.7 | 1,047.7 | 974.0 | |||
Use of cash for payments on operating leases | $ 154.6 | 337.8 | $ 128.0 | |||
Variable Interest Entity, Primary Beneficiary | NEOM Green Hydrogen Company | ||||||
Variable Interest Entity [Line Items] | ||||||
Voting interest in joint venture | 33.33333% | |||||
Value of engineering, procurement, and construction agreement | $ 6,700.0 | |||||
Short-term borrowings | 51.6 | $ 51.6 | 0.0 | |||
Operating lease right-of-use assets, net | 233.9 | 233.9 | 228.9 | |||
Variable Interest Entity, Primary Beneficiary | NEOM Green Hydrogen Company | Land | ||||||
Variable Interest Entity [Line Items] | ||||||
Lessee, operating lease, term | 50 years | |||||
Operating lease right-of-use assets, net | 223.0 | $ 223.0 | ||||
Use of cash for payments on operating leases | $ 209.0 | 209.0 | ||||
Lessee, operating lease, years additional payments due after commencement | 30 years | 30 years | ||||
Variable Interest Entity, Primary Beneficiary | NEOM Green Hydrogen Company | De-Designated Interest Rate Swaps | ||||||
Variable Interest Entity [Line Items] | ||||||
Unrealized gain (loss) on de-designated cash flow hedging instruments, before tax | $ 16.3 | |||||
Unrealized gain (loss) on de-designated cash flow hedging instruments attributable to parent after tax | 4.3 | |||||
Unrealized gain (loss) on de-designated cash flow hedging instruments attributable to noncontrolling interest, before tax | (10.6) | |||||
Variable Interest Entity, Primary Beneficiary | NEOM Green Hydrogen Company | Nonrecourse | ||||||
Variable Interest Entity [Line Items] | ||||||
Long-term and short-term debt, combined amount | 3,323.4 | $ 3,323.4 | $ 1,364.8 | |||
Variable Interest Entity, Primary Beneficiary | NEOM Green Hydrogen Company | NEOM Green Hydrogen Project Financing, Primary | Nonrecourse | ||||||
Variable Interest Entity [Line Items] | ||||||
Project financing, maximum borrowing capacity | $ 6,100.0 | $ 6,100.0 | ||||
Amount of expected debt funding, percent | 73.00% | 73.00% | ||||
Variable Interest Entity, Primary Beneficiary | NEOM Green Hydrogen Company | NEOM Green Hydrogen Project Financing, Working Capital | Nonrecourse | ||||||
Variable Interest Entity [Line Items] | ||||||
Project financing, maximum borrowing capacity | $ 500.0 | $ 500.0 | ||||
Variable Interest Entity, Primary Beneficiary | NEOM Green Hydrogen Company | Saudi Riyal Loan Facility Variable-Rate 6.21% | ||||||
Variable Interest Entity [Line Items] | ||||||
Short-term borrowings | $ 51.6 | $ 51.6 | ||||
Interest rate, variable percentage | 6.21% | 6.21% |
X | ||||||||||
- Definition Amount Of Expected Debt Funding, Percent No definition available.
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X | ||||||||||
- Definition Lessee, Operating Lease, Years Additional Payments Due After Commencement No definition available.
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X | ||||||||||
- Definition Maximum borrowing capacity under project financing without consideration of the amounts currently outstanding under financing. No definition available.
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X | ||||||||||
- Definition Amount of unrealized gain (loss) recognized in earnings on derivative instruments for which cash flow hedging is discontinued, before tax No definition available.
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X | ||||||||||
- Definition Amount of unrealized gain (loss) recognized in earnings on derivative instruments for which cash flow hedging is discontinued, net of income taxes, that is attributable to the parent. No definition available.
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X | ||||||||||
- Definition Amount of unrealized gain (loss) recognized in earnings on derivative instruments for which cash flow hedging is discontinued, before tax No definition available.
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X | ||||||||||
- Definition Value of engineering, procurement, and construction ("EPC") agreement No definition available.
|
X | ||||||||||
- Definition Represents the aggregate of total long-term debt, including current maturities and short-term debt. No definition available.
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X | ||||||||||
- Definition Term of lessee's operating lease, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition The interest rate applicable to the portion of the carrying amount of long-term borrowings outstanding as of the balance sheet date, including current maturities, which accrues interest at a rate subject to change from time to time. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Amount of cash outflow from operating lease, excluding payments to bring another asset to condition and location necessary for its intended use. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Amount of lessee's right to use underlying asset under operating lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Reflects the total carrying amount as of the balance sheet date of debt having initial terms less than one year or the normal operating cycle, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Percentage of the Variable Interest Entity's (VIE) voting interest owned by (or beneficial interest in) the reporting entity (directly or indirectly). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Details
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X | ||||||||||
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X | ||||||||||
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X | ||||||||||
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X | ||||||||||
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X | ||||||||||
- Details
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Gain on Sale of Business |
12 Months Ended |
---|---|
Sep. 30, 2024 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Gain on Sale of Business | GAIN ON SALE OF BUSINESS On 30 September 2024, we completed the sale of our liquefied natural gas ("LNG") process technology and equipment business to Honeywell International Inc. for approximately $1.8 billion in an all-cash transaction. This divestiture reflects our commitment to our industrial gases and clean hydrogen growth strategy. As a result of the transaction, we recorded a gain of $1,575.6 during the fourth quarter of fiscal year 2024 that is reflected within "Gain on sale of business" on our consolidated income statements ($1,198.4 after tax). This gain was not recorded in segment results. The LNG business does not qualify for presentation as a discontinued operation because the disposal does not represent a strategic shift that has had or will have a major effect on our operations and financial results. The LNG business generated operating income for our Corporate and other segment of approximately $135, $120, and $95 in fiscal years 2024, 2023, and 2022, respectively.
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X | ||||||||||
- Definition The entire disclosure related to a sale and disposal of an integrated set of activities and assets capable of being conducted and managed for purpose of providing return in form of dividend, lower cost, or other economic benefit to investor, owner, member and participant. No definition available.
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X | ||||||||||
- References No definition available.
|
Income Taxes (Effective Tax Rate Reconciliation) (Details) |
12 Months Ended | ||
---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
Income Tax Disclosure [Abstract] | |||
U.S. federal statutory tax rate | 21.00% | 21.00% | 21.00% |
State taxes, net of federal benefit | 1.50% | 1.00% | 0.80% |
Income from equity affiliates | (2.40%) | (3.80%) | (3.40%) |
Foreign tax differentials | 0.30% | 0.70% | 0.70% |
Tax on foreign repatriated earnings | 0.00% | 0.50% | 0.70% |
Share-based compensation | (0.10%) | (0.30%) | (0.70%) |
Business and asset actions | 0.00% | 0.70% | 0.10% |
Other | (0.70%) | (0.70%) | (1.00%) |
Effective Tax Rate | 19.60% | 19.10% | 18.20% |
X | ||||||||||
- Definition Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to foreign tax credit, net of the percentage difference of expense (benefit) attributable to the repatriation of foreign earnings. No definition available.
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X | ||||||||||
- Definition Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Percentage of domestic federal statutory tax rate applicable to pretax income (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to equity in earnings (loss) of unconsolidated subsidiaries exempt from income taxes. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations applicable to statutory income tax expense (benefit) outside of the country of domicile. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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X | ||||||||||
- Definition Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to restructuring charges. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to other adjustments. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Definition Percentage of difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying domestic federal statutory income tax rate to pretax income (loss) from continuing operation, attributable to expense for award under share-based payment arrangement. Excludes expense determined to be nondeductible upon grant or after for award under share-based payment arrangement. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations applicable to state and local income tax expense (benefit), net of federal tax expense (benefit). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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X | ||||||||||
- References No definition available.
|
Debt (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Total Debt | The table below summarizes our total outstanding debt as reflected on our consolidated balance sheets:
(A)Balances reflect bank obligations with weighted average interest rates of 4.0% and 5.2% as of 30 September 2024 and 2023, respectively. The decrease from fiscal year 2023 is primarily due to the repayment of commercial paper.
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Schedule of Long-term Debt Instruments | NGHC completed its first drawdown on the project financing in July 2023. As of 30 September 2024 and 2023, total principal borrowings were $3,323.4 and $1,364.8, respectively. The balance as of 30 September 2024 includes short-term borrowings of $51.6 from a 6.21% variable rate Saudi Riyal facility. The remaining borrowings include the long-term facilities below, which are reflected net of unamortized discounts and debt issuance costs within "Long-term debt" on our consolidated balance sheets.
(A)Reflects a daily compounded SOFR as of 30 September 2024 plus an annual margin of 1.31% and 0.96%, respectively. These rates do not include the impact of our floating-to-fixed interest rate swaps, which result in an overall lower interest rate for the borrowings. Additional information is provided below. (B)Based on the Saudi Arabian Interbank Offered Rate ("SAIBOR") plus an annual margin of 0.80%. (C)Our consolidated balance sheets as of 30 September 2024 and 2023 also included $4.6 and $58.8, respectively, for remaining project financing fees that were eligible for deferral as a noncurrent asset. Once additional borrowings are drawn, the unamortized balance is reclassified as an offset to the outstanding debt. Summary of Long-Term Debt Instruments The table below summarizes the coupon interest rates, fiscal year maturities, and carrying amounts of our long-term debt, including current portion and amounts owed to related parties. Variable rates are determined as of 30 September 2024.
(A)Refer to Note 3, Variable Interest Entities, for additional information. (B)Refer to Note 15, Financial Instruments, for additional information. Issuance of Green Senior Notes In February 2024, we issued green senior notes with an aggregate principal amount of $2.5 billion in a registered public offering. The proceeds from the notes were reduced by deferred financing charges and discounts of approximately $20, which are being amortized through interest expense over the life of the underlying bonds. We intend to use the net proceeds to finance or refinance existing or future projects that are expected to have environmental benefits as defined under our Green Finance Framework. The interest rate, maturity, and carrying amount as of 30 September 2024 for each of these notes are summarized in the table below:
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Schedule of Maturities of Long-term Debt | Principal maturities of long-term debt, including current portion and amounts owed to related parties, in each of the next five years and thereafter are as follows:
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Reconciliation of Interest Incurred to Interest Expense | The table below reconciles interest incurred to interest expense as presented on our consolidated income statements. Capitalized interest represents the portion of interest incurred that we include in the cost of new plant and equipment that we build during the year.
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- References No definition available.
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- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. No definition available.
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- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Debt - Issuance of Green Senior Notes (Details) - USD ($) $ in Millions |
Sep. 30, 2024 |
Sep. 30, 2023 |
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Debt Instrument [Line Items] | ||
Long-term debt, principal amount | $ 14,485.5 | $ 10,292.5 |
Note 4.60% due 2029 | Senior Notes | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 4.60% | |
Long-term debt, principal amount | $ 750.0 | 0.0 |
Note 4.75% due 2031 | Senior Notes | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 4.75% | |
Long-term debt, principal amount | $ 600.0 | 0.0 |
Note 4.85% due 2034 | Senior Notes | ||
Debt Instrument [Line Items] | ||
Interest rate, stated percentage | 4.85% | |
Long-term debt, principal amount | $ 1,150.0 | $ 0.0 |
Green Bonds | Senior Notes | ||
Debt Instrument [Line Items] | ||
Long-term debt, principal amount | $ 2,500.0 |
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- Definition Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Capital Stock |
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Capital Stock | CAPITAL STOCK Common Stock Authorized common stock consists of 300 million shares with a par value of $1 per share. As of 30 September 2024, 249 million shares were issued, with 222 million issued and outstanding. On 15 September 2011, the Board of Directors authorized the repurchase of up to $1.0 billion of our outstanding common stock. This program does not have a stated expiration date. If we repurchase shares pursuant to this authorization, we may do so under Rules 10b5-1 and 10b-18 under the Securities Exchange Act through repurchase agreements established with one or more brokers. We have not purchased any of our outstanding shares under this program since fiscal year 2013. As of 30 September 2024, $485.3 in share repurchase authorization remained available. A summary of the changes in common shares issued and outstanding in fiscal year 2024 is presented below:
Preferred Stock Authorized preferred stock consisted of 25 million shares with a par value of $1 per share. There were no preferred shares issued or outstanding as of 30 September 2024 and 2023.
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- References No definition available.
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- Definition The entire disclosure for equity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Debt |
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Debt | DEBT The table below summarizes our total outstanding debt as reflected on our consolidated balance sheets:
(A)Balances reflect bank obligations with weighted average interest rates of 4.0% and 5.2% as of 30 September 2024 and 2023, respectively. The decrease from fiscal year 2023 is primarily due to the repayment of commercial paper. Related Party Debt Our related party debt includes loans with our joint venture partners. Total debt owed to related parties was $304.4 and $328.3 as of 30 September 2024 and 30 September 2023, respectively, of which $200.0 and $177.6, respectively, was reflected within "Current portion of long-term debt" on our consolidated balance sheets. The remaining related party debt balance as of 30 September 2024 primarily includes a loan with Lu’An Clean Energy Company. Debt Covenants Various debt agreements to which we are a party include financial covenants and other restrictions, including restrictions pertaining to the ability to create property liens and enter into certain sale and leaseback transactions. As of 30 September 2024, we were in compliance with all the financial and other covenants under our debt agreements. Summary of Long-Term Debt Instruments The table below summarizes the coupon interest rates, fiscal year maturities, and carrying amounts of our long-term debt, including current portion and amounts owed to related parties. Variable rates are determined as of 30 September 2024.
(A)Refer to Note 3, Variable Interest Entities, for additional information. (B)Refer to Note 15, Financial Instruments, for additional information. Principal maturities of long-term debt, including current portion and amounts owed to related parties, in each of the next five years and thereafter are as follows:
Interest The table below reconciles interest incurred to interest expense as presented on our consolidated income statements. Capitalized interest represents the portion of interest incurred that we include in the cost of new plant and equipment that we build during the year.
Cash paid for interest, net of amounts capitalized, was $198.2, $131.5, and $128.5 in fiscal years 2024, 2023, and 2022, respectively. Issuance of Green Senior Notes In February 2024, we issued green senior notes with an aggregate principal amount of $2.5 billion in a registered public offering. The proceeds from the notes were reduced by deferred financing charges and discounts of approximately $20, which are being amortized through interest expense over the life of the underlying bonds. We intend to use the net proceeds to finance or refinance existing or future projects that are expected to have environmental benefits as defined under our Green Finance Framework. The interest rate, maturity, and carrying amount as of 30 September 2024 for each of these notes are summarized in the table below:
Credit Facilities 2024 Credit Agreements In March 2024, we entered into a five-year $3.0 billion revolving credit agreement maturing 31 March 2029 (the “2024 Five-Year Credit Agreement”) as well as a 364-day $500.0 revolving credit agreement maturing 27 March 2025 that we have the ability to convert into a term loan maturing 27 March 2026 (the “2024 364-Day Credit Agreement” and, together with the 2024 Five-Year Credit Agreement, the “2024 Credit Agreements”). Both of the 2024 Credit Agreements are syndicated facilities that provide a source of liquidity and support our commercial paper program through availability of senior unsecured debt to us and certain of our subsidiaries. As of 30 September 2024, no borrowings were outstanding under either of the 2024 Credit Agreements. Borrowings under both of the 2024 Credit Agreements bear interest at quoted market rates plus varying spreads based on our public debt ratings. Each of the 2024 Credit Agreements also requires a commitment fee on unused commitments based on our public debt ratings. There are no financial maintenance covenants in either of the 2024 Credit Agreements. The 2024 Five-Year Credit Agreement replaced our previous $2.75 billion revolving credit agreement (the “2021 Credit Agreement”), which was terminated upon execution of the 2024 Five-Year Credit Agreement. No borrowings were outstanding under the 2021 Credit Agreement at the time of its termination, and no early termination penalties were incurred. Foreign Credit Facilities We also have credit facilities available to certain of our foreign subsidiaries totaling $1,223.9, of which $1,129.0 was borrowed and outstanding as of 30 September 2024. The amount borrowed and outstanding as of 30 September 2023 was $1,041.4.
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- References No definition available.
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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Consolidated Statements of Equity - USD ($) $ in Millions |
Total |
Common Stock |
Capital in Excess of Par Value |
Retained Earnings |
Accumulated Other Comprehensive Income (Loss) |
Treasury Stock, Common |
Air Products Shareholders’ Equity |
Non-controlling Interests |
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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 | 2,266.5 | 0.0 | 0.0 | 2,256.1 | 0.0 | 0.0 | 2,256.1 | 10.4 | ||||
Other comprehensive income (loss) | (1,299.5) | 0.0 | 0.0 | 0.0 | (1,270.2) | 0.0 | (1,270.2) | (29.3) | ||||
Dividends on common stock | (1,410.6) | 0.0 | 0.0 | (1,410.6) | 0.0 | 0.0 | (1,410.6) | 0.0 | ||||
Distributions to noncontrolling interests | (4.8) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | (4.8) | ||||
Share-based compensation | 46.0 | 0.0 | 46.0 | 0.0 | 0.0 | 0.0 | 46.0 | 0.0 | ||||
Issuance of treasury shares for stock option and award plans | (14.0) | 0.0 | (20.9) | 0.0 | 0.0 | 6.9 | (14.0) | 0.0 | ||||
Investments by noncontrolling interests | 33.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 33.0 | ||||
Purchase of noncontrolling interests | (1.9) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | (1.9) | ||||
Other equity transactions | (0.3) | 0.0 | 0.5 | (3.5) | 0.0 | 0.0 | (3.0) | 2.7 | ||||
Ending 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] | ||||||||||||
Dividends per share | $ 6.36 | |||||||||||
Net income | $ 2,338.6 | 0.0 | 0.0 | 2,300.2 | 0.0 | 0.0 | 2,300.2 | 38.4 | ||||
Other comprehensive income (loss) | 521.0 | 0.0 | 0.0 | 0.0 | 336.7 | 0.0 | 336.7 | 184.3 | ||||
Dividends on common stock | (1,526.2) | 0.0 | 0.0 | (1,526.2) | 0.0 | 0.0 | (1,526.2) | 0.0 | ||||
Distributions to noncontrolling interests | (115.9) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | (115.9) | ||||
Share-based compensation | 54.6 | 0.0 | 54.6 | 0.0 | 0.0 | 0.0 | 54.6 | 0.0 | ||||
Issuance of treasury shares for stock option and award plans | 7.6 | 0.0 | (6.1) | 0.0 | 0.0 | 13.7 | 7.6 | 0.0 | ||||
Investments by noncontrolling interests | 682.2 | [1] | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 682.2 | [1] | ||
Other equity transactions | (4.0) | 0.0 | 0.6 | (4.6) | 0.0 | 0.0 | (4.0) | 0.0 | ||||
Ending balance at Sep. 30, 2023 | $ 15,660.3 | 249.4 | 1,190.5 | 17,289.7 | (2,449.4) | (1,967.3) | 14,312.9 | 1,347.4 | ||||
Stockholders' Equity [Roll Forward] | ||||||||||||
Dividends per share | $ 6.87 | |||||||||||
Net income | $ 3,862.4 | 0.0 | 0.0 | 3,828.2 | 0.0 | 0.0 | 3,828.2 | 34.2 | ||||
Other comprehensive income (loss) | 274.7 | 0.0 | 0.0 | 0.0 | 421.7 | 0.0 | 421.7 | (147.0) | ||||
Dividends on common stock | (1,569.7) | 0.0 | 0.0 | (1,569.7) | 0.0 | 0.0 | (1,569.7) | 0.0 | ||||
Distributions to noncontrolling interests | (25.4) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | (25.4) | ||||
Share-based compensation | 58.3 | 0.0 | 58.3 | 0.0 | 0.0 | 0.0 | 58.3 | 0.0 | ||||
Issuance of treasury shares for stock option and award plans | (12.9) | 0.0 | 3.9 | 0.0 | 0.0 | (16.8) | (12.9) | 0.0 | ||||
Investments by noncontrolling interests | 428.5 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 428.5 | ||||
Other equity transactions | (2.5) | 0.0 | 0.5 | (2.5) | 0.0 | 0.0 | (2.0) | (0.5) | ||||
Ending balance at Sep. 30, 2024 | $ 18,673.7 | $ 249.4 | $ 1,253.2 | $ 19,545.7 | $ (2,027.7) | $ (1,984.1) | $ 17,036.5 | $ 1,637.2 | ||||
Stockholders' Equity [Roll Forward] | ||||||||||||
Dividends per share | $ 7.06 | |||||||||||
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- Definition Amount of increase to additional paid-in capital (APIC) for recognition of cost for award under share-based payment arrangement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of paid and unpaid common stock dividends declared with the form of settlement in cash. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
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- Definition Decrease in noncontrolling interest balance from payment of dividends or other distributions by the non-wholly owned subsidiary or partially owned entity, included in the consolidation of the parent entity, to the noncontrolling interest holders. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Decrease in noncontrolling interest (for example, but not limited to, redeeming or purchasing the interests of noncontrolling shareholders, issuance of shares (interests) by the non-wholly owned subsidiary to the parent entity for other than cash, and a buyback of shares (interest) by the non-wholly owned subsidiary from the noncontrolling interests). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount after income tax of income (loss) including the portion attributable to nonredeemable noncontrolling interest. Excludes the portion attributable to redeemable noncontrolling interest recognized as temporary equity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of increase in noncontrolling interest from sale of a portion of the parent's controlling interest. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Value, after forfeiture, of shares issued under share-based payment arrangement. Excludes employee stock ownership plan (ESOP). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition This element represents movements included in the statement of changes in stockholders' equity which are not separately disclosed or provided for elsewhere in the taxonomy. No definition available.
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Equity Affiliates (Investment Listing) (Details) |
Sep. 30, 2024 |
Dec. 31, 2021 |
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Abdullah Hashim Industrial Gases & Equipment Co., Ltd. | ||
Schedule of Equity Method Investments [Line Items] | ||
Ownership interest percentage | 25.00% | |
Air Products South Africa (Proprietary) Limited | ||
Schedule of Equity Method Investments [Line Items] | ||
Ownership interest percentage | 50.00% | |
Bangkok Cogeneration Company Limited | ||
Schedule of Equity Method Investments [Line Items] | ||
Ownership interest percentage | 49.00% | |
Bangkok Industrial Gases Co., Ltd. | ||
Schedule of Equity Method Investments [Line Items] | ||
Ownership interest percentage | 49.00% | |
Chengdu Air & Gas Products Ltd. | ||
Schedule of Equity Method Investments [Line Items] | ||
Ownership interest percentage | 50.00% | |
Helios S.p.A. | ||
Schedule of Equity Method Investments [Line Items] | ||
Ownership interest percentage | 49.00% | |
INFRA Group | ||
Schedule of Equity Method Investments [Line Items] | ||
Ownership interest percentage | 40.00% | |
INOX Air Products Private Limited | ||
Schedule of Equity Method Investments [Line Items] | ||
Ownership interest percentage | 50.00% | |
Jazan Integrated Gasification and Power Company ("JIGPC") | ||
Schedule of Equity Method Investments [Line Items] | ||
Ownership interest percentage | 55.00% | 55.00% |
Kulim Industrial Gases Sdn. Bhd. | ||
Schedule of Equity Method Investments [Line Items] | ||
Ownership interest percentage | 50.00% | |
Sapio Produzione Idrogeno Ossigeno S.r.l. | ||
Schedule of Equity Method Investments [Line Items] | ||
Ownership interest percentage | 49.00% | |
Parent | Jazan Integrated Gasification and Power Company ("JIGPC") | ||
Schedule of Equity Method Investments [Line Items] | ||
Ownership interest percentage | 51.00% |
X | ||||||||||
- Definition The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Supplemental Information (Other Noncurrent Liabilities) (Details) - USD ($) $ in Millions |
Sep. 30, 2024 |
Sep. 30, 2023 |
---|---|---|
Disclosure Text Block Supplement [Abstract] | ||
Asset retirement obligations | $ 322.9 | $ 285.1 |
Pension benefits | 236.1 | 192.3 |
Postretirement benefits | 8.9 | 10.3 |
Derivative instruments | 56.0 | 112.7 |
Long-term accrued income taxes related to U.S. tax reform | 60.8 | 109.4 |
Contingencies related to uncertain tax positions | 98.5 | 89.6 |
Contract liabilities | 290.0 | 136.9 |
Environmental liabilities | 67.2 | 50.2 |
Other | 210.1 | 131.5 |
Other noncurrent liabilities | $ 1,350.5 | $ 1,118.0 |
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- Definition Carrying value of the obligation (known or estimated) arising from requirements to perform activities to remediate one or more sites, payable after twelve months or beyond the next operating cycle if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Noncurrent portion of the carrying amount of a liability for an asset retirement obligation. An asset retirement obligation is a legal obligation associated with the disposal or retirement of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of obligation to transfer good or service to customer for which consideration has been received or is receivable, classified as noncurrent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of liability, recognized in statement of financial position, for defined benefit pension plan, classified as noncurrent. Excludes other postretirement benefit plan. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled after one year or the normal operating cycle, if longer. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount recognized for uncertainty in income taxes classified as noncurrent. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of liabilities classified as other, due after one year or the normal operating cycle, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of liability, recognized in statement of financial position, for defined benefit other postretirement plan, classified as noncurrent. Excludes pension plan. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Obligations not otherwise itemized or categorized in the footnotes to the financial statements that are expected to be paid after one year (or the normal operating cycle, if longer), from the balance sheet date. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of tax liability from transition tax on accumulated earnings of controlled foreign corporation deemed repatriated pursuant to Tax Cuts and Jobs Act, classified as noncurrent. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Revenue Recognition (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Revenue Recognition [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disaggregation of Revenue | Disaggregation of Revenue The tables below present our consolidated sales disaggregated by supply mode for each of our reportable segments. We believe this presentation best depicts the nature, timing, type of customer, and contract terms for our sales.
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Contract Assets and Liabilities | Contract Balances The table below details balances arising from contracts with customers:
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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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Supplemental Information (Tables) |
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Disclosure Text Block Supplement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Other Receivables and Current Assets |
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Schedule of Other Noncurrent Assets |
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Schedule of Payables and Accrued Liabilities |
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Schedule of Other Noncurrent Liabilities |
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- Definition Tabular disclosure of other noncurrent liabilities. No definition available.
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- Definition Tabular disclosure of the (a) carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business (accounts payable); (b) other payables; and (c) accrued liabilities. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). An alternative caption includes accrued expenses. No definition available.
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- Definition Tabular disclosure of noncurrent assets. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Tabular disclosure of the carrying amounts of other current assets. No definition available.
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Fair Value Measurements (Schedule of Recurring Fair Value Measurements) (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions |
Sep. 30, 2024 |
Sep. 30, 2023 |
---|---|---|
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total Assets at Fair Value | $ 142.6 | $ 394.1 |
Total Liabilities at Fair Value | 100.6 | 211.4 |
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 | 142.6 | 394.1 |
Total Liabilities at Fair Value | 100.6 | 211.4 |
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 | 100.8 | 76.4 |
Derivative liabilities | 59.2 | 124.4 |
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 | 100.8 | 76.4 |
Derivative liabilities | 59.2 | 124.4 |
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 | 41.8 | 317.7 |
Derivative liabilities | 41.4 | 87.0 |
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 | 41.8 | 317.7 |
Derivative liabilities | 41.4 | 87.0 |
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 |
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- Definition Fair value portion of asset recognized for present right to economic benefit. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Fair value of financial and nonfinancial obligations. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Details
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Commitments and Contingencies (Unconditional Purchase Obligations) (Details) $ in Millions |
Sep. 30, 2024
USD ($)
|
---|---|
Commitments and Contingencies Disclosure [Abstract] | |
2024 | $ 7,514 |
2026 | 2,357 |
2027 | 570 |
2028 | 620 |
2029 | 624 |
Thereafter | 4,206 |
Total | $ 15,891 |
X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition Amount of fixed and determinable portion of unrecorded unconditional purchase obligation to be paid in fifth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Includes, but is not limited to, lease not yet commenced. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Amount of fixed and determinable portion of unrecorded unconditional purchase obligation to be paid in next fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Includes, but is not limited to, lease not yet commenced. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of fixed and determinable portion of unrecorded unconditional purchase obligation to be paid in fourth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Includes, but is not limited to, lease not yet commenced. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of fixed and determinable portion of unrecorded unconditional purchase obligation to be paid in second fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Includes, but is not limited to, lease not yet commenced. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of fixed and determinable portion of unrecorded unconditional purchase obligation to be paid in third fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Includes, but is not limited to, lease not yet commenced. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of unrecorded obligation to transfer funds in future for fixed or minimum amount or quantity of product and service at fixed or minimum price. Includes, but is not limited to, lease not yet commenced and take-or-pay and throughput contracts. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of fixed and determinable portion of unrecorded unconditional purchase obligation to be paid after fifth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Includes, but is not limited to, lease not yet commenced. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Supplemental Information |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Text Block Supplement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Supplemental Information | SUPPLEMENTAL INFORMATION 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 $350, $380, and $300 for the fiscal years ended 30 September 2024, 2023, and 2022, respectively. Sales agreements with related parties include terms that are consistent with those that we believe would have been negotiated at an arm’s length with an independent party. As of 30 September 2024 and 2023, our consolidated balance sheets included related party trade receivables of approximately $120 and $80, respectively. Refer to Note 17, Debt, for information concerning debt owed to related parties. Supplemental Balance Sheet Information
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- Definition The entire disclosures of supplemental information, including descriptions and amounts, related to the balance sheet, income statement, and/or cash flow statement. No definition available.
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- References No definition available.
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Retirement Benefits (Amounts Recognized on Balance Sheet) (Details) - USD ($) $ in Millions |
Sep. 30, 2024 |
Sep. 30, 2023 |
---|---|---|
Defined Benefit Plan Disclosure [Line Items] | ||
Noncurrent assets | $ 200.0 | $ 120.0 |
Accrued liabilities | 11.3 | 9.6 |
Defined Benefit Pension Plan | U.S. | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Noncurrent assets | 45.3 | 36.2 |
Accrued liabilities | 7.3 | 5.3 |
Noncurrent liabilities | 118.1 | 80.7 |
Net Liability Recognized | (80.1) | (49.8) |
Defined Benefit Pension Plan | International | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Noncurrent assets | 154.7 | 83.8 |
Accrued liabilities | 0.9 | 0.6 |
Noncurrent liabilities | 118.0 | 111.6 |
Net Liability Recognized | $ 35.8 | $ (28.4) |
X | ||||||||||
- Definition Amount of asset (liability), recognized in statement of financial position, for defined benefit pension and other postretirement plans. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of asset, recognized in statement of financial position, for overfunded defined benefit pension and other postretirement plans. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Amount of liability, recognized in statement of financial position, for defined benefit pension and other postretirement plans, classified as current. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Amount of liability, recognized in statement of financial position, for defined benefit pension and other postretirement plans, classified as noncurrent. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Details
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Income Taxes (Income of U.S and Foreign Operations Before Taxes) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
Income from Continuing Operations Before Taxes | |||
United States income | $ 2,602.5 | $ 1,050.5 | $ 947.9 |
Foreign income | 1,571.0 | 1,227.6 | 1,325.3 |
Equity affiliates' income | 647.7 | 604.3 | 481.5 |
Income From Continuing Operations Before Taxes | $ 4,821.2 | $ 2,882.4 | $ 2,754.7 |
X | ||||||||||
- Definition The portion of earnings or loss from continuing operations before income taxes that is attributable to domestic operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition The portion of earnings or loss from continuing operations before income taxes that is attributable to foreign operations, which is defined as Income or Loss generated from operations located outside the entity's country of domicile. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition Amount of income (loss) for proportionate share of equity method investee's income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Variable Interest Entities (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consolidated Variable Interest Entities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Long-term Debt Instruments | NGHC completed its first drawdown on the project financing in July 2023. As of 30 September 2024 and 2023, total principal borrowings were $3,323.4 and $1,364.8, respectively. The balance as of 30 September 2024 includes short-term borrowings of $51.6 from a 6.21% variable rate Saudi Riyal facility. The remaining borrowings include the long-term facilities below, which are reflected net of unamortized discounts and debt issuance costs within "Long-term debt" on our consolidated balance sheets.
(A)Reflects a daily compounded SOFR as of 30 September 2024 plus an annual margin of 1.31% and 0.96%, respectively. These rates do not include the impact of our floating-to-fixed interest rate swaps, which result in an overall lower interest rate for the borrowings. Additional information is provided below. (B)Based on the Saudi Arabian Interbank Offered Rate ("SAIBOR") plus an annual margin of 0.80%. (C)Our consolidated balance sheets as of 30 September 2024 and 2023 also included $4.6 and $58.8, respectively, for remaining project financing fees that were eligible for deferral as a noncurrent asset. Once additional borrowings are drawn, the unamortized balance is reclassified as an offset to the outstanding debt. Summary of Long-Term Debt Instruments The table below summarizes the coupon interest rates, fiscal year maturities, and carrying amounts of our long-term debt, including current portion and amounts owed to related parties. Variable rates are determined as of 30 September 2024.
(A)Refer to Note 3, Variable Interest Entities, for additional information. (B)Refer to Note 15, Financial Instruments, for additional information. Issuance of Green Senior Notes In February 2024, we issued green senior notes with an aggregate principal amount of $2.5 billion in a registered public offering. The proceeds from the notes were reduced by deferred financing charges and discounts of approximately $20, which are being amortized through interest expense over the life of the underlying bonds. We intend to use the net proceeds to finance or refinance existing or future projects that are expected to have environmental benefits as defined under our Green Finance Framework. The interest rate, maturity, and carrying amount as of 30 September 2024 for each of these notes are summarized in the table below:
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Schedule of Variable Interest Entities | The table below summarizes balances associated with NGHC as reflected on our consolidated balance sheets:
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X | ||||||||||
- Definition Consolidated Variable Interest Entities Disclosure No definition available.
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X | ||||||||||
- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Retirement Benefits (Schedule of Net Periodic Benefit Cost) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
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Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
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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 Nonoperating Income (Expense), Net | Other Nonoperating Income (Expense), Net | Other Nonoperating Income (Expense), Net |
Defined Benefit Pension Plan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | $ 20.9 | $ 23.2 | $ 39.8 |
Interest cost | 194.9 | 189.8 | 102.8 |
Expected return on plan assets | (167.4) | (176.3) | (235.7) |
Prior service cost amortization | 2.0 | 1.9 | 1.3 |
Actuarial loss amortization | 70.2 | 71.3 | 80.7 |
Settlements | 2.3 | 2.0 | 6.2 |
Curtailments | 0.0 | (1.9) | 0.0 |
Other | 0.9 | 0.9 | 1.3 |
Net Periodic Cost (Benefit) | 123.8 | 110.9 | (3.6) |
Defined Benefit Pension Plan | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 9.6 | 10.9 | 18.3 |
Interest cost | 134.9 | 129.9 | 73.9 |
Expected return on plan assets | (120.1) | (127.1) | (168.3) |
Prior service cost amortization | 1.1 | 1.2 | 1.3 |
Actuarial loss amortization | 57.3 | 59.7 | 66.0 |
Settlements | 1.1 | 1.4 | 6.0 |
Curtailments | 0.0 | 0.0 | 0.0 |
Other | 0.0 | 0.0 | 0.0 |
Net Periodic Cost (Benefit) | 83.9 | 76.0 | (2.8) |
Defined Benefit Pension Plan | International | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 11.3 | 12.3 | 21.5 |
Interest cost | 60.0 | 59.9 | 28.9 |
Expected return on plan assets | (47.3) | (49.2) | (67.4) |
Prior service cost amortization | 0.9 | 0.7 | 0.0 |
Actuarial loss amortization | 12.9 | 11.6 | 14.7 |
Settlements | 1.2 | 0.6 | 0.2 |
Curtailments | 0.0 | (1.9) | 0.0 |
Other | 0.9 | 0.9 | 1.3 |
Net Periodic Cost (Benefit) | $ 39.9 | $ 34.9 | $ (0.8) |
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- Definition Amount of gain (loss) recognized in net periodic benefit (cost) credit of defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of prior service cost (credit) recognized in net periodic benefit cost (credit) of defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Amount of expected return (loss) recognized in net periodic benefit (cost) credit, calculated based on expected long-term rate of return and market-related value of plan assets of defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of cost recognized for passage of time related to defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of net periodic benefit cost (credit) for defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Indicates line item in statement of income or comprehensive income that includes components of net periodic benefit cost (credit), excluding service cost component, for defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of defined benefit plan cost (credit), classified as other. No definition available.
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- Definition Amount of gain (loss) recognized in net periodic benefit (cost) credit from event reducing expected years of future service of present employees or eliminating accrual of defined benefits for some or all future services of present employees. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of gain (loss) recognized in net periodic benefit (cost) credit from irrevocable action relieving primary responsibility for benefit obligation and eliminating risk related to obligation and assets used to effect settlement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of cost for actuarial present value of benefits attributed to service rendered by employee for defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Retirement Benefits |
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Retirement Benefits [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retirement Benefits | RETIREMENT BENEFITS We and certain of our subsidiaries sponsor defined benefit pension plans and defined contribution plans that cover a substantial portion of our worldwide employees. The principal defined benefit pension plans are the U.S. salaried pension plan and the U.K. pension plan. These plans were closed to new participants in 2005, after which defined contribution plans were offered to new employees. The principal defined contribution plan is the Retirement Savings Plan, in which a substantial portion of the U.S. employees participate. A similar plan is offered to U.K. employees. We also provide other postretirement benefits consisting primarily of healthcare benefits to U.S. retirees who meet age and service requirements. Defined Benefit Pension Plans Pension benefits earned are generally based on years of service and compensation during active employment. The components of net periodic cost (benefit) for our defined benefit pension plans for fiscal years 2024, 2023, and 2022 were as follows:
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 fiscal years 2024, 2023 and 2022 were not material. The non-service related impacts are presented outside operating income within "Other non-operating income (expense), net." Certain of our pension plans provide for a lump sum benefit payment option at the time of retirement, or for corporate officers, six months after their retirement date. A participant’s vested benefit is considered settled upon cash payment of the lump sum. We recognize pension settlement losses when cash payments exceed the sum of the service and interest cost components of net periodic cost (benefit) of the plan for the fiscal year. We recognized pension settlement losses of $1.1, $1.4 and $6.0 in fiscal years 2024, 2023 and 2022, respectively, to accelerate recognition of a portion of actuarial losses deferred in accumulated other comprehensive loss associated with the U.S. supplementary pension plan. We calculate net periodic cost (benefit) for a given fiscal year based on assumptions developed at the end of the previous fiscal year. The following table sets forth the weighted average assumptions used in the calculation of net periodic cost (benefit):
The projected benefit obligation ("PBO") is the actuarial present value of benefits attributable to employee service rendered to date, including the effects of estimated future salary increases. The following table sets forth the weighted average assumptions used in the calculation of the PBO:
The following tables reflect the change in the PBO and the change in the fair value of plan assets based on the plan year measurement date, as well as the amounts recognized in the consolidated balance sheets:
The changes in plan assets and benefit obligation that have been recognized in other comprehensive income on a pretax basis during fiscal years 2024 and 2023 consist of the following:
The net actuarial gains and losses represent the actual changes in the estimated obligation and plan assets that have not yet been recognized in the consolidated income statements and are included in accumulated other comprehensive loss. Actuarial losses arising during fiscal year 2024 are primarily attributable to higher than expected returns on plan assets that were partially offset by lower discount rates. Accumulated actuarial gains and losses that exceed a corridor are amortized over the average remaining service period of active U.S. participants, which was approximately six years as of 30 September 2024. For U.K. participants, accumulated actuarial gains and losses that exceed a corridor are amortized over the average remaining life expectancy, which was approximately 22 years as of 30 September 2024. The components recognized in accumulated other comprehensive loss on a pretax basis at 30 September consisted of the following:
The accumulated benefit obligation ("ABO") is the actuarial present value of benefits attributed to employee service rendered to a particular date, based on current salaries. The ABO for all defined benefit pension plans was $3,860.4 and $3,429.1 as of 30 September 2024 and 2023, respectively. The following table provides information on pension plans where the benefit liability exceeds the value of plan assets:
The tables above include several pension arrangements that are not funded because of jurisdictional practice. The ABO and PBO related to these plans as of 30 September 2024 were $55.4 and $59.9, respectively. As of 30 September 2024, the U.S. salaried pension plan had both a PBO and ABO in excess of plan assets. As of 30 September 2023, the U.S. salaried pension plan had plan assets in excess of ABO. Pension Plan Assets Our pension plan investment strategy is to invest in diversified portfolios to earn a long-term return consistent with acceptable risk in order to pay retirement benefits and meet regulatory funding requirements while minimizing company cash contributions over time. De-risking strategies are also employed for closed plans as funding improves, generally resulting in higher allocations to long duration bonds. The plans invest primarily in passive and actively managed equity and debt securities. Equity investments are diversified geographically and by investment style and market capitalization. Fixed income investments include sovereign, corporate and asset-backed securities generally denominated in the currency of the plan. The U.S. and U.K. plans' investment managers are authorized to utilize derivatives to manage interest and inflation exposure. Asset allocation targets are established based on the long-term return, volatility and correlation characteristics of the asset classes, the profiles of the plans’ liabilities, and acceptable levels of risk. As of 30 September 2024, the U.S pension plan was at target with respect to the fixed income securities portfolio. We continue to monitor the investment portfolio and various investment markets and will take action accordingly. Assets are routinely rebalanced through contributions, benefit payments, and otherwise as deemed appropriate. The actual and target allocations at the measurement date are as follows:
In fiscal year 2024, the 5.8% expected return for U.S. plan assets was based on a weighted average of estimated long-term returns of major asset classes and the historical performance of plan assets. In determining the estimated long-term asset class returns, we take into account historical long-term returns and the value of active management, as well as other economic and market factors, and input from our actuaries and investment advisors. In fiscal year 2024, the 4.3% expected rate of return for international plan assets was based on a weighted average return for plans outside the U.S., which vary significantly in size, asset structure and expected returns. The expected asset return for the U.K. plan, which represents approximately 80% of the assets of our International plans, was 4.3% and was derived from expected equity and debt security returns. The table below summarizes pension plan assets measured at fair value by asset class (see Note 16, Fair Value Measurements, for definition of the levels):
(A)Real estate pooled funds consist of funds that invest in properties. These funds generally allow for quarterly redemption with 30 days' notice. Timing for redemption could be delayed based on the priority of our request and the availability of funds. Interests in these funds are valued using the net asset value ("NAV") per share practical expedient and are not classified in the fair value hierarchy. The table below summarizes changes in fair value of the pension plan assets classified as Level 3:
The descriptions and fair value methodologies for the U.S. and International pension plan assets are as follows: Cash and Cash Equivalents The carrying amounts of cash and cash equivalents approximate fair value due to the short-term maturity. Equity Securities Equity securities are valued at the closing market price reported on a U.S. or international exchange where the security is actively traded and are therefore classified as Level 1 assets. Equity Mutual Funds Shares of mutual funds are valued at the daily closing price as reported by the fund. The mutual funds are required to publish their daily NAV and to transact at that price. The mutual funds are deemed to be actively traded and are classified as Level 1 assets. Equity Pooled Funds Units of pooled funds are valued at the per unit NAV determined by the fund manager based on the value of the underlying traded holdings and are classified as Level 2 assets. Fixed Income Securities Corporate and government bonds, and related fixed income securities, are classified as Level 2 assets, as they are either valued at quoted market prices from observable pricing sources at the reporting date or valued based upon comparable securities with similar yields and credit ratings. U.S. plan fixed income investments primarily include U.S. corporate bonds, U.S. treasury investments, interest rate swaps, total return swaps, and U.S. treasury future contracts. Fixed Income Pooled Funds Fixed income pooled funds are classified as either Level 2 or Level 3 assets depending on the underlying investments of the fund. Fixed income pooled funds classified as Level 2 assets may hold government bonds, index linked bonds, corporate bonds, cash, and derivative instruments. The NAV of these assets is based on quoted market pricing from observable pricing sources or valued based upon comparable securities with similar yields, credit ratings, or factors as of the reporting date. Fixed income pooled funds classified as Level 3 may hold high yield bonds, emerging market debt, loans, structured credit, and other instruments. Due to the limited market activity of the underlying securities, the NAV of these assets is based on the fund manager's estimate of the fair value of the shares held as of the reporting date. Other Pooled Funds Other pooled funds are classified as Level 2 assets, as they are valued at the NAV of the shares held at year end, which is based on the fair value of the underlying investments. Insurance Contracts Insurance contracts are classified as Level 3 assets, as they are carried at contract value, which approximates the estimated fair value. The estimated fair value is based on the fair value of the underlying investment of the insurance company and discount rates that require inputs with limited observability. Contributions and Projected Benefit Payments Pension contributions to funded plans and benefit payments for unfunded plans for fiscal year 2024 were $34.7. Contributions for funded plans resulted primarily from contractual and regulatory requirements. Benefit payments to unfunded plans were due primarily to the timing of retirements. We anticipate contributing $30 to $40 to the defined benefit pension plans in fiscal year 2025. These contributions are anticipated to be driven primarily by contractual and regulatory requirements for funded plans and benefit payments for unfunded plans, which are dependent upon timing of retirements. Projected benefit payments, which reflect expected future service, are as follows:
These estimated benefit payments are based on assumptions about future events. Actual benefit payments may vary significantly from these estimates. Defined Contribution Plans We maintain a non-leveraged employee stock ownership plan ("ESOP") which forms part of the Air Products and Chemicals, Inc. Retirement Savings Plan ("RSP"). The ESOP was established in May of 2002. The balance of the RSP is a qualified defined contribution plan including a 401(k) elective deferral component. A substantial portion of U.S. employees are eligible and participate. We treat dividends paid on ESOP shares as ordinary dividends. Under existing tax law, we may deduct dividends which are paid with respect to shares held by the plan. Shares of our common stock in the ESOP totaled 1,690,227 as of 30 September 2024. Our contributions to the RSP include a Company core contribution for certain eligible employees who do not receive their primary retirement benefit from the defined benefit pension plans, with the core contribution based on a percentage of pay that is dependent on years of service. For the RSP, we also make matching contributions on overall employee contributions as a percentage of the employee contribution and include an enhanced contribution for certain eligible employees that do not participate in the defined benefit pension plans. Worldwide contributions expensed to income in fiscal years 2024, 2023, and 2022 were $82.6, $71.5, and $60.6, respectively. Other Postretirement Benefits We provide other postretirement benefits consisting primarily of healthcare benefits to certain U.S. retirees who meet age and service requirements. The healthcare benefit is a continued medical benefit until the retiree reaches age 65. Healthcare benefits are contributory, with contributions adjusted periodically. The retiree medical costs are capped at a specified dollar amount, with the retiree contributing the remainder. The cost of these benefits was not material in fiscal years 2024, 2023, and 2022. Accumulated postretirement benefit obligations as of the end of fiscal years 2024 and 2023 were $12.0 and $14.0, respectively, of which $3.1 and $3.7 were current obligations, respectively. We recognize changes in other postretirement benefit plan obligations in other comprehensive income on a pretax basis. During fiscal years 2024 and 2023 we recognized a loss of $1.7 and $0.1, respectively, that arose during the period, and $0.5 and $2.0 of net actuarial gain amortization, respectively. The net actuarial gain recognized in accumulated other comprehensive loss on a pretax basis was $0.2 and $2.4 as of 30 September 2024 and 2023, respectively.
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- References No definition available.
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- Definition The entire disclosure for retirement benefits. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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New Accounting Guidance |
12 Months Ended |
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Sep. 30, 2024 | |
Accounting Standards Update and Change in Accounting Principle [Abstract] | |
New Accounting Guidance | NEW ACCOUNTING GUIDANCE New Accounting Guidance to be Implemented Climate-Related Disclosures In March 2024, the SEC issued Release No. 33-11275, “The Enhancement and Standardization of Climate-Related Disclosures for Investors", which includes final rules for providing qualitative and quantitative disclosures regarding certain climate-related topics on an annual basis. As a result of ongoing litigation in the U.S., the SEC issued an order in April 2024 to stay the effectiveness of the rules while judicial review is pending. If the rules are not overturned and take effect on schedule, prospective adoption will be permitted with phased-in compliance beginning with our Annual Report on Form 10-K for the fiscal year ending 30 September 2026. We are evaluating the impact these rules will have on our disclosures. Reportable Segment Disclosures In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures". The update includes enhanced disclosures about significant segment expenses and identification of the chief operating decision maker. The update will be effective in our Annual Report on Form 10-K for the fiscal year ending 30 September 2025 as well as interim periods thereafter, although early adoption is permitted. The amendments must be applied retrospectively to all prior periods presented. We are evaluating the impact this update will have on our disclosures. Income Tax Disclosures In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740)—Improvements to Income Tax Disclosures” to expand income tax disclosures, primarily through disaggregation requirements for the rate reconciliation and income taxes paid. The update will be effective in our Annual Report on Form 10-K for the fiscal year ending 30 September 2026, although early adoption is permitted. The amendments should be applied on a prospective basis with a retrospective option. We are evaluating the impact this update will have on our disclosures.
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- References No definition available.
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- 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. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Supplemental Information (Payables and Accrued Liabilities) (Details) - USD ($) $ in Millions |
Sep. 30, 2024 |
Sep. 30, 2023 |
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Disclosure Text Block Supplement [Abstract] | ||
Trade creditors | $ 1,451.6 | $ 1,212.9 |
Contract liabilities | 240.0 | 413.0 |
Dividends payable | 393.6 | 388.9 |
Accrued payroll and employee benefits | 257.2 | 284.4 |
Accrued interest | 120.6 | 106.4 |
Current lease obligations | 100.3 | 94.7 |
Derivative instruments | 44.6 | 98.7 |
Pension and postretirement benefits, current | 11.3 | 9.6 |
Other | 307.0 | 281.5 |
Payables and accrued liabilities | $ 2,926.2 | $ 2,890.1 |
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- Definition Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Carrying value as of the balance sheet date of obligations incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of obligation to transfer good or service to customer for which consideration has been received or is receivable, classified as current. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled within one year or normal operating cycle, if longer. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Carrying value as of the balance sheet date of dividends declared but unpaid on equity securities issued by the entity and outstanding. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Carrying value as of the balance sheet date of [accrued] interest payable on all forms of debt, including trade payables, that has been incurred and is unpaid. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Present value of lessee's discounted obligation for lease payments from operating lease, classified as current. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Amount of liabilities classified as other, due within one year or the normal operating cycle, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Amount of liability, recognized in statement of financial position, for defined benefit pension and other postretirement plans, classified as current. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Share-Based Compensation |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-Based Payment Arrangement [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation | SHARE-BASED COMPENSATION Our outstanding share-based compensation programs include deferred stock units and stock options. During the fiscal year ended 30 September 2024, we granted market-based and time-based deferred stock units. We have not issued stock option awards since fiscal year 2015. 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 30 September 2024, there were 0.9 million shares available for future grant under our Long-Term Incentive Plan ("LTIP"), which is shareholder approved. Share-based compensation cost recognized on the consolidated income statements is summarized below:
Before-tax share-based compensation cost is primarily included in "Selling and administrative expense" on our consolidated income statements. The amount of share-based compensation cost capitalized in fiscal years 2024, 2023, and 2022 was not material. Deferred Stock Units We have granted deferred stock units to executives, selected employees, and outside directors. These deferred stock units entitle the recipient to one share of common stock upon vesting, which is conditioned, for employee recipients, on continued employment during the deferral period and may be conditioned on achieving certain performance targets. We grant deferred stock unit awards with a two- to five-year deferral period that are subject to payout upon death, disability, or retirement. Deferred stock units issued to outside directors are paid after their service on the Board of Directors ends at the time elected by the director (not to exceed ten years after service ends). We generally expense the grant-date fair value of these awards on a straight-line basis over the vesting period; however, expense recognition is accelerated for retirement eligible individuals who meet the requirements for vesting upon retirement. We have elected to account for forfeitures as they occur, rather than to estimate them. Forfeitures have not been significant historically. Market-based deferred stock units vest as long as the employee continues to be employed by the Company and upon the achievement of the performance target. The performance target, which is approved by the Compensation Committee, is our share price appreciation and dividends paid, or "total shareholder return," in relation to the S&P 500 Index over a three-year performance period beginning 1 October of the fiscal year of grant. We granted 102,120, 85,612, and 74,364 market-based deferred stock units in fiscal years 2024, 2023, and 2022, respectively. The fair value of market-based deferred stock units was estimated using a Monte Carlo simulation model as these equity awards are tied to a market condition. The model utilizes multiple input variables that determine the probability of satisfying the market condition stipulated in the grant and calculates the fair value of the awards. We generally expense the grant-date fair value of these awards on a straight-line basis over the vesting period. The estimated grant-date fair value of market-based deferred stock units was $302.10, $502.03, and $427.23 per unit in fiscal years 2024, 2023, and 2022, respectively. The calculation of the fair value of market-based deferred stock units used the following assumptions:
In addition, in fiscal year 2024, we granted 146,947 time-based deferred stock units at a weighted average grant-date fair value of $270.86. In fiscal years 2023 and 2022, we granted 119,954 and 120,996 time-based deferred stock units at a weighted average grant-date fair value of $308.91 and $278.67, respectively. A summary of deferred stock unit activity in fiscal year 2024 is presented below:
Cash payments made for deferred stock units totaled $2.7, $3.6, and $5.5 in fiscal years 2024, 2023, and 2022, respectively. As of 30 September 2024, there was $71.4 of unrecognized compensation cost related to deferred stock units. This cost is expected to be recognized over a weighted average period of 1.6 years. The total fair value of deferred stock units paid out during fiscal years 2024, 2023, and 2022, including shares vested in prior periods, was $24.1, $45.3, and $92.9, respectively. Stock Options We have granted awards of options to purchase common stock to executives and selected employees. The exercise price of stock options equals the market price of our stock on the date of the grant. As of 30 September 2024, there was no unrecognized compensation cost as all stock option awards were fully vested. A summary of stock option activity in fiscal year 2024 is presented below:
The weighted average remaining contractual term of stock options outstanding and exercisable at 30 September 2024 was 0.2 years. The aggregate intrinsic value of these stock options was $8.7, which represents the amount by which our closing stock price of $297.74 per share as of 30 September 2024 exceeds the exercise price multiplied by the number of in-the-money options outstanding or exercisable. The intrinsic value of stock options exercised during fiscal years 2024, 2023, and 2022 was $35.1, $53.5, and $20.2, respectively. Compensation cost is generally recognized over the stated vesting period consistent with the terms of the arrangement, which is either on a straight-line or graded-vesting basis. Expense recognition is accelerated for retirement-eligible individuals who would meet the requirements for vesting of awards upon their retirement. Cash received from option exercises during fiscal year 2024 was $7.9. The total tax benefit realized from stock option exercises in fiscal year 2024 was $8.3, of which $6.9 was the excess tax benefit.
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X | ||||||||||
- Definition The entire disclosure for share-based payment arrangement. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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X | ||||||||||
- References No definition available.
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Share-Based Compensation (Compensation Cost Recognized in Income Statement) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
Share-Based Payment Arrangement [Abstract] | |||
Before-tax share-based compensation cost | $ 61.7 | $ 60.7 | $ 49.5 |
Income tax benefit | (14.9) | (14.6) | (12.1) |
After-tax share-based compensation cost | $ 46.8 | $ 46.1 | $ 37.4 |
X | ||||||||||
- Definition Amount of expense for award under share-based payment arrangement. Excludes amount capitalized. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Amount, after tax, of expense for award under share-based payment arrangement. No definition available.
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition Amount of tax benefit for recognition of expense of award under share-based payment arrangement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Goodwill (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Carrying Amount of Goodwill by Segment | Changes to the carrying amount of consolidated goodwill by segment are as follows:
(A)Accumulated impairment losses are attributable to our Latin America reporting unit ("LASA") within the Americas segment and include the impact of currency translation.
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Commitments and Contingencies (Pace and Pasadena Narrative) (Details) $ in Millions |
12 Months Ended | ||||
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Sep. 30, 2024
USD ($)
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Sep. 30, 2023
USD ($)
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Sep. 30, 2022
USD ($)
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Sep. 30, 2012
USD ($)
surfaceImpoundmentUnit
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Sep. 30, 2006
USD ($)
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|
Loss Contingencies [Line Items] | |||||
Pretax environmental expense | $ 27.0 | $ 24.9 | $ 22.3 | ||
Pre-tax loss from discontinued operations | 19.4 | ||||
Environmental | |||||
Loss Contingencies [Line Items] | |||||
Accrual for environmental loss contingencies | $ 79.1 | $ 64.5 | |||
Accrual for environmental loss contingencies, maximum payout period | 30 years | ||||
Pace, Florida | |||||
Loss Contingencies [Line Items] | |||||
Accrual for environmental loss contingencies | $ 54.7 | $ 42.0 | |||
Change in estimated exposure | 19.4 | ||||
Pace, Florida | Discontinued Operations | |||||
Loss Contingencies [Line Items] | |||||
Pretax environmental expense | $ 42.0 | ||||
Pasadena, Texas | |||||
Loss Contingencies [Line Items] | |||||
Accrual for environmental loss contingencies | $ 10.3 | ||||
Total anticipated exposure | $ 13.0 | ||||
Number Of Closed Facilities | surfaceImpoundmentUnit | 2 |
X | ||||||||||
- Definition Number Of Closed Facilities No definition available.
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X | ||||||||||
- Definition Total costs accrued as of the balance sheet date for environmental loss contingencies. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition Amount of expense (reversal of expense) which increases (decreases) the accrual for environmental loss contingencies from revisions in estimates to existing obligations. Excludes changes related to business acquisitions, divestitures, or currency movement. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount before tax of income (loss) from a discontinued operation. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Total anticipated costs associated with remediation, site restoration, postclosure, monitoring commitments, or other exit costs that may occur on the sale, disposal, or abandonment of a particular property resulting from unanticipated contamination of the assets. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, before recovery, of expense for known and estimated future costs arising from requirement to perform environmental remediation. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Period of disbursement over which accrued amount may be paid out for an individual site or group of sites, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Earnings Per Share (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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"):
(A)EPS is calculated independently for each component and may not sum to total EPS due to rounding.
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Goodwill |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill | GOODWILL Changes to the carrying amount of consolidated goodwill by segment are as follows:
(A)Accumulated impairment losses are attributable to our Latin America reporting unit ("LASA") within the Americas segment and include the impact of currency translation. We review goodwill for impairment annually in the fourth quarter of the fiscal year and whenever events or changes in circumstances indicate that the carrying value of goodwill might not be recoverable. The impairment test for goodwill involves an optional assessment of qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. If qualitative factors alone are not sufficient to support this conclusion, we perform quantitative testing that involves calculating the fair value of each reporting unit. If the fair value of the reporting unit is less than its carrying value, the difference is recorded as a goodwill impairment charge, not to exceed the total amount of goodwill allocated to that reporting unit. During the fourth quarter of fiscal year 2024, we conducted our annual goodwill impairment test and concluded that it was more likely than not that the fair value of each reporting unit was greater than its carrying value.
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X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The entire disclosure for goodwill. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Debt (Summary of Long-Term Debt Instruments) (Details) - USD ($) $ in Millions |
Sep. 30, 2024 |
Sep. 30, 2023 |
---|---|---|
Debt Instrument [Line Items] | ||
Long-term debt, principal amount | $ 14,485.5 | $ 10,292.5 |
Less: Unamortized discount and debt issuance costs | 304.5 | 165.7 |
Less: Fair value hedge accounting adjustments | 36.6 | 80.5 |
Total Long-term Debt | 14,144.4 | 10,046.3 |
Less: Current portion of long-term debt | 611.4 | 615.0 |
Related Party | ||
Debt Instrument [Line Items] | ||
Less: Long-term debt – related party | 104.4 | 150.7 |
Nonrelated Party | ||
Debt Instrument [Line Items] | ||
Less: Long-term debt – related party | 13,428.6 | 9,280.6 |
NEOM Green Hydrogen Company | Nonrecourse | ||
Debt Instrument [Line Items] | ||
Long-term debt, principal amount | 3,271.8 | 1,364.8 |
Medium-term Notes | Series E 7.6% due 2026 | ||
Debt Instrument [Line Items] | ||
Long-term debt, principal amount | $ 17.2 | 17.2 |
Interest rate, weighted average | 7.60% | |
Senior Notes | Note 3.35% due 2024 | ||
Debt Instrument [Line Items] | ||
Long-term debt, principal amount | $ 0.0 | 400.0 |
Interest rate, stated percentage | 3.35% | |
Senior Notes | Note 1.50% due 2026 | ||
Debt Instrument [Line Items] | ||
Long-term debt, principal amount | $ 550.0 | 550.0 |
Interest rate, stated percentage | 1.50% | |
Senior Notes | Note 1.85% due 2027 | ||
Debt Instrument [Line Items] | ||
Long-term debt, principal amount | $ 650.0 | 650.0 |
Interest rate, stated percentage | 1.85% | |
Senior Notes | Note 4.60% due 2029 | ||
Debt Instrument [Line Items] | ||
Long-term debt, principal amount | $ 750.0 | 0.0 |
Interest rate, stated percentage | 4.60% | |
Senior Notes | Note 2.05% due 2030 | ||
Debt Instrument [Line Items] | ||
Long-term debt, principal amount | $ 900.0 | 900.0 |
Interest rate, stated percentage | 2.05% | |
Senior Notes | Note 4.75% due 2031 | ||
Debt Instrument [Line Items] | ||
Long-term debt, principal amount | $ 600.0 | 0.0 |
Interest rate, stated percentage | 4.75% | |
Senior Notes | Note 4.80% Due 2033 | ||
Debt Instrument [Line Items] | ||
Long-term debt, principal amount | $ 600.0 | 600.0 |
Interest rate, stated percentage | 4.80% | |
Senior Notes | Note 4.85% due 2034 | ||
Debt Instrument [Line Items] | ||
Long-term debt, principal amount | $ 1,150.0 | 0.0 |
Interest rate, stated percentage | 4.85% | |
Senior Notes | Note 2.70% due 2040 | ||
Debt Instrument [Line Items] | ||
Long-term debt, principal amount | $ 750.0 | 750.0 |
Interest rate, stated percentage | 2.70% | |
Senior Notes | Note 2.80% due 2050 | ||
Debt Instrument [Line Items] | ||
Long-term debt, principal amount | $ 950.0 | 950.0 |
Interest rate, stated percentage | 2.80% | |
Bonds | Variable-rate industrial revenue bonds 3.55% due 2035 to 2050 | ||
Debt Instrument [Line Items] | ||
Long-term debt, principal amount | $ 618.9 | 618.9 |
Interest rate, weighted average | 3.38% | |
Bonds | Other variable-rate 7.11% due 2025 | ||
Debt Instrument [Line Items] | ||
Long-term debt, principal amount | $ 38.8 | 41.4 |
Interest rate, weighted average | 7.11% | |
Bonds | Eurobonds 1.000% due 2025 | ||
Debt Instrument [Line Items] | ||
Long-term debt, principal amount | $ 334.0 | 317.2 |
Interest rate, stated percentage | 1.00% | |
Bonds | Eurobonds 0.500% due 2028 | ||
Debt Instrument [Line Items] | ||
Long-term debt, principal amount | $ 556.7 | 528.6 |
Interest rate, stated percentage | 0.50% | |
Bonds | Eurobonds 0.800% Due 2032 | ||
Debt Instrument [Line Items] | ||
Long-term debt, principal amount | $ 556.7 | 528.6 |
Interest rate, stated percentage | 0.80% | |
Bonds | Eurobonds 4.000% Due 2035 | ||
Debt Instrument [Line Items] | ||
Long-term debt, principal amount | $ 779.4 | 740.1 |
Interest rate, stated percentage | 4.00% | |
Bonds | Saudi Riyal Loan Facility variable-rate 7.35% due 2027 | ||
Debt Instrument [Line Items] | ||
Long-term debt, principal amount | $ 451.1 | 451.1 |
Interest rate, variable percentage | 7.35% | |
Bonds | Saudi Riyal Loan Facility 2.0% due 2034 | ||
Debt Instrument [Line Items] | ||
Long-term debt, principal amount | $ 222.2 | 192.1 |
Interest rate, stated percentage | 2.00% | |
Bonds | New Taiwan Dollar 1.86% due 2024 to 2028 | ||
Debt Instrument [Line Items] | ||
Long-term debt, principal amount | $ 131.5 | 167.5 |
Interest rate, stated percentage | 1.86% | |
Bonds | New Taiwan Dollar 2.66% due 2026 to 2029 | ||
Debt Instrument [Line Items] | ||
Long-term debt, principal amount | $ 190.6 | 186.1 |
Interest rate, stated percentage | 2.66% | |
Bonds | New Taiwan Dollar variable-rate 2.72% due 2030 | ||
Debt Instrument [Line Items] | ||
Long-term debt, principal amount | $ 94.8 | 3.1 |
Interest rate, variable percentage | 2.72% | |
Notes Payable, Other Payables | ||
Debt Instrument [Line Items] | ||
Long-term debt, principal amount | 0.0 | |
Notes Payable, Other Payables | 4.07% Other | ||
Debt Instrument [Line Items] | ||
Long-term debt, principal amount | $ 9.4 | |
Interest rate, weighted average | 4.07% | |
Related Party | Chinese Renminbi 5.5% due 2025 to 2027 | Related Party | ||
Debt Instrument [Line Items] | ||
Long-term debt, principal amount | $ 279.8 | 313.5 |
Interest rate, stated percentage | 5.50% | |
Related Party | Chinese Renminbi 5.7% due 2033 | Related Party | ||
Debt Instrument [Line Items] | ||
Long-term debt, principal amount | $ 24.6 | 14.8 |
Interest rate, stated percentage | 5.70% | |
Finance Lease Obligations | Foreign 10.8% due 2025 to 2036 | ||
Debt Instrument [Line Items] | ||
Long-term debt, principal amount | $ 8.0 | $ 7.5 |
Interest rate, weighted average | 10.80% |
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- Definition Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of unamortized debt discount (premium) and debt issuance costs. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of cumulative increase (decrease) in fair value of hedged liability in fair value hedge, attributable to hedged risk. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of long-term debt and lease obligation, classified as noncurrent. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of long-term debt and lease obligation, including portion classified as current. No definition available.
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- Definition The interest rate applicable to the portion of the carrying amount of long-term borrowings outstanding as of the balance sheet date, including current maturities, which accrues interest at a rate subject to change from time to time. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Weighted average interest rate of long-term debt outstanding calculated at point in time. No definition available.
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Retirement Benefits (Assumptions in Calculating Net Periodic Benefit Cost) (Details) |
12 Months Ended | ||
---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Expected return on plan assets | 5.80% | ||
International | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Expected return on plan assets | 4.30% | ||
Defined Benefit Pension Plan | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate – Service cost | 6.10% | 5.70% | 3.00% |
Discount rate – Interest cost | 6.00% | 5.50% | 2.30% |
Expected return on plan assets | 5.80% | 5.80% | 5.80% |
Rate of compensation increase | 3.50% | 3.50% | 3.50% |
Defined Benefit Pension Plan | International | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate – Service cost | 5.30% | 4.60% | 1.90% |
Discount rate – Interest cost | 5.10% | 5.00% | 1.60% |
Expected return on plan assets | 4.30% | 4.20% | 4.00% |
Rate of compensation increase | 3.40% | 3.40% | 3.30% |
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- Definition Weighted average rate for present value of future retirement benefits cash flows for interest cost, used to determine benefit obligation of defined benefit plan. No definition available.
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- Definition Weighted average rate for present value of future retirement benefits cash flows for service cost, used to determine benefit obligation of defined benefit plan. No definition available.
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- Definition Weighted average rate of return on plan assets, reflecting average rate of earnings expected on existing plan assets and expected contributions, used to determine net periodic benefit cost of defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Weighted average rate of compensation increase used to determine net periodic benefit cost of defined benefit plan. Plan includes, but is not limited to, pay-related defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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Consolidated Income Statements - USD ($) shares in Millions, $ in Millions |
12 Months Ended | ||||
---|---|---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|||
Income Statement [Abstract] | |||||
Sales | $ 12,100.6 | $ 12,600.0 | $ 12,698.6 | ||
Cost of sales | 8,168.7 | 8,833.0 | 9,338.5 | ||
Selling and administrative expense | 942.4 | 957.0 | 900.6 | ||
Research and development expense | 100.2 | 105.6 | 102.9 | ||
Gain on sale of business | 1,575.6 | 0.0 | 0.0 | ||
Business and asset actions | 57.0 | 244.6 | 73.7 | ||
Other income (expense), net | 58.2 | 34.8 | 55.9 | ||
Operating Income | 4,466.1 | 2,494.6 | 2,338.8 | ||
Equity affiliates' income | 647.7 | 604.3 | 481.5 | ||
Interest expense | 218.8 | 177.5 | 128.0 | ||
Other non-operating income (expense), net | (73.8) | (39.0) | 62.4 | ||
Income From Continuing Operations Before Taxes | 4,821.2 | 2,882.4 | 2,754.7 | ||
Income tax provision | 944.9 | 551.2 | 500.8 | ||
Income From Continuing Operations | 3,876.3 | 2,331.2 | 2,253.9 | ||
(Loss) Income from discontinued operations, net of tax | (13.9) | 7.4 | 12.6 | ||
Net Income | 3,862.4 | 2,338.6 | 2,266.5 | ||
Net income attributable to noncontrolling interests of continuing operations | 34.2 | 38.4 | 10.4 | ||
Net Income Attributable to Air Products | 3,828.2 | 2,300.2 | 2,256.1 | ||
Net Income Attributable to Air Products | |||||
Net income from continuing operations | 3,842.1 | 2,292.8 | 2,243.5 | ||
Net (loss) income from discontinued operations | (13.9) | 7.4 | 12.6 | ||
Net Income Attributable to Air Products | $ 3,828.2 | $ 2,300.2 | $ 2,256.1 | ||
Per Share Data | |||||
Income (Loss) from Continuing Operations, Per Basic Share | [1] | $ 17.27 | $ 10.31 | $ 10.11 | |
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share | [1] | (0.06) | 0.03 | 0.06 | |
Basic EPS attributable to Air Products (in dollars per share) | [1] | 17.21 | 10.35 | 10.16 | |
Diluted EPS from continuing operations | [1] | 17.24 | 10.30 | 10.08 | |
Diluted EPS from discontinued operations | [1] | (0.06) | 0.03 | 0.06 | |
Diluted EPS attributable to Air Products (in dollars per share) | [1] | $ 17.18 | $ 10.33 | $ 10.14 | |
Weighted Average Common Shares (in millions) | |||||
Basic | 222.5 | 222.3 | 222.0 | ||
Diluted | 222.8 | 222.7 | 222.5 | ||
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- Definition Items which arise from transactions and events not directly related to the company's principal income earnings activities. Composed of income and expense activity that is secondary to the company's main business pursuits and includes, for example: Technology and royalty income, Interest income, Foreign exchange (gain)/loss, (Gain)/loss on the sale or disposal of assets/investments, and Insurance settlements, net of related expenses. No definition available.
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- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of gain (loss) from sale and disposal of integrated set of activities and assets capable of being conducted and managed for purpose of providing return in form of dividend, lower cost, or other economic benefit to investor, owner, member and participant. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount after tax of income (loss) from continuing operations attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount after tax of income (loss) from continuing operations attributable to the noncontrolling interest. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount after tax of income (loss) from continuing operations including portion attributable to the noncontrolling interest. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount after tax of income (loss) from a discontinued operation including the portion attributable to the noncontrolling interest. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount after tax of income (loss) from a discontinued operation attributable to the parent. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Per basic share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Per diluted share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (loss) for proportionate share of equity method investee's income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of interest expense classified as nonoperating. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of expense for research and development. Includes, but is not limited to, cost for computer software product to be sold, leased, or otherwise marketed and writeoff of research and development assets acquired in transaction other than business combination or joint venture formation or both. Excludes write-down of intangible asset acquired in business combination or from joint venture formation or both, used in research and development activity. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Financial Instruments (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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:
The table below summarizes our outstanding interest rate management contracts and cross currency interest rate swaps:
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Schedule of Cumulative Basis Adjustments for Fair Value Hedges | The table below provides the amounts recorded on the consolidated balance sheets related to cumulative basis adjustments for fair value hedges:
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Schedule of Fair Value and Balance Sheet Location of Derivative Instruments | The tables below summarize the fair value and balance sheet location of our outstanding derivatives.
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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:
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Schedule of Amounts Recognized in Income Related to Cash Flow and Fair Value Hedges | The tables below summarize the location and amounts recognized in income related to our cash flow and fair value hedging relationships by contract type:
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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:
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Tabular disclosure for fair value hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Consolidated Comprehensive Income Statements - USD ($) $ in Millions |
12 Months Ended | ||
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Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
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Statement of Comprehensive Income [Abstract] | |||
Net Income | $ 3,862.4 | $ 2,338.6 | $ 2,266.5 |
Other Comprehensive Income (Loss), net of tax: | |||
Translation adjustments, net of tax | 381.5 | 151.1 | (1,230.5) |
Net (loss) gain on derivatives, net of tax | (159.5) | 369.2 | (120.3) |
Pension and postretirement benefits, net of tax | 32.0 | (8.9) | (112.2) |
Reclassification adjustments: | |||
Currency translation adjustment | (1.5) | (0.3) | 7.3 |
Derivatives, net of tax | (33.7) | (43.9) | 91.4 |
Pension and postretirement benefits, net of tax | 55.9 | 53.8 | 64.8 |
Total Other Comprehensive Income (Loss) | 274.7 | 521.0 | (1,299.5) |
Comprehensive Income | 4,137.1 | 2,859.6 | 967.0 |
Net Income Attributable to Noncontrolling Interests | 34.2 | 38.4 | 10.4 |
Other Comprehensive (Loss) Income Attributable to Noncontrolling Interests | (147.0) | 184.3 | (29.3) |
Comprehensive Income Attributable to Air Products | $ 4,249.9 | $ 2,636.9 | $ 985.9 |
X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Amount after tax, before reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Amount, after tax and before reclassification, of gain (loss) from derivative instrument designated and qualifying as cash flow hedge included in assessment of hedge effectiveness. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Amount, after tax, of reclassification of gain (loss) from accumulated other comprehensive income (AOCI) for derivative instrument designated and qualifying as cash flow hedge included in assessment of hedge effectiveness. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Amount after tax of reclassification adjustment from accumulated other comprehensive income for translation gain (loss) realized upon the sale or liquidation of an investment in a foreign entity and foreign currency hedges that are designated and qualified as hedging instruments for hedges of the foreign currency exposure of a net investment in a foreign operation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition Amount after tax of other comprehensive income (loss) attributable to noncontrolling interests. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Amount, after tax, before reclassification adjustment, of (increase) decrease in accumulated other comprehensive income of defined benefit plan, that has not been recognized in net periodic benefit cost (credit). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Amount, after tax, of reclassification adjustment from accumulated other comprehensive (income) loss for net periodic benefit cost (credit) of defined benefit plan. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- References No definition available.
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Plant and Equipment, Net (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Major Classes of Plant and Equipment | The major classes of plant and equipment are as follows:
(A)Depreciable lives of production facilities related to long-term customer supply contracts are generally matched to the contract lives. (B)The depreciable lives for various types of distribution equipment are: 10 to 25 years for cylinders, depending on the nature and properties of the product; 20 years for tanks; generally 7.5 years for customer stations; and 5 to 15 years for tractors and trailers.
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Accumulated Other Comprehensive Loss |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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:
The table below summarizes the reclassifications out of AOCL and the affected line item on the consolidated income statements:
(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 18, Retirement Benefits, for additional information.
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
Basis of Presentation and Major Accounting Policies (Narrative) (Details) |
12 Months Ended | ||
---|---|---|---|
Sep. 30, 2024
USD ($)
segment
|
Sep. 30, 2023
USD ($)
|
Sep. 30, 2022
USD ($)
|
|
Accounting Policies [Abstract] | |||
Number of reportable segments | segment | 5 | ||
Assets of discontinued operations | $ 0 | $ 0 | |
Liabilities of discontinued operations | 0 | 0 | |
Excluded components recognized within earnings | 31,400,000 | 25,100,000 | $ 23,200,000 |
Environmental expenditures | $ 27,000,000.0 | $ 24,900,000 | $ 22,300,000 |
Environmental Remediation Expense, Statement of Income or Comprehensive Income [Extensible Enumeration] | Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest |
Pre-tax loss from discontinued operations | $ 19,400,000 | ||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-lived intangible assets, residual value | $ 0 | ||
Computer software costs | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, useful life | 3 years | ||
Computer software costs | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, useful life | 5 years | ||
Customer relationships | Minimum | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-lived intangible assets, useful life | 5 years | ||
Customer relationships | Maximum | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-lived intangible assets, useful life | 25 years | ||
Patents and technology | Minimum | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-lived intangible assets, useful life | 5 years | ||
Patents and technology | Maximum | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-lived intangible assets, useful life | 15 years | ||
Land Use Rights | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-lived intangible assets, useful life | 50 years |
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of residual value of finite-lived asset acquired in business combination, asset acquisition, and from joint venture formation. Excludes financial asset. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount classified as assets attributable to disposal group held for sale or disposed of. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount before tax of income (loss) from a discontinued operation. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Amount, before recovery, of expense for known and estimated future costs arising from requirement to perform environmental remediation. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Definition Indicates line item in statement of income or comprehensive income that includes environmental remediation expense before recovery. Reference 1: http://www.xbrl.org/2003/role/recommendedDisclosureRef
|
X | ||||||||||
- Definition Useful life of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Definition Amount classified as liabilities attributable to disposal group held for sale or disposed of. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition The loss relating to components of the gain (loss) on the cash flow hedging instrument excluded from the assessment of cash flow hedge effectiveness. Recognized in earnings. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Number of segments reported by the entity. A reportable segment is a component of an entity for which there is an accounting requirement to report separate financial information on that component in the entity's financial statements. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. No definition available.
|
X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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Financial Instruments (Fair Value and Balance Sheet Location of Derivatives) (Details) - USD ($) $ in Millions |
Sep. 30, 2024 |
Sep. 30, 2023 |
---|---|---|
Derivative [Line Items] | ||
Total Derivatives, Assets | $ 142.6 | $ 394.1 |
Total Derivatives, Liabilities | 100.6 | 211.4 |
Designated as Hedging Instrument | ||
Derivative [Line Items] | ||
Total Derivatives, Assets | 119.6 | 383.8 |
Total Derivatives, Liabilities | 78.6 | 206.8 |
Not Designated as Hedging Instrument | ||
Derivative [Line Items] | ||
Total Derivatives, Assets | 23.0 | 10.3 |
Total Derivatives, Liabilities | 22.0 | 4.6 |
Forward exchange contracts | Designated as Hedging Instrument | Other receivables and current assets | ||
Derivative [Line Items] | ||
Total Derivatives, Assets | 74.5 | 50.2 |
Forward exchange contracts | Designated as Hedging Instrument | Other noncurrent assets | ||
Derivative [Line Items] | ||
Total Derivatives, Assets | 9.6 | 19.8 |
Forward exchange contracts | Designated as Hedging Instrument | Payables and accrued liabilities | ||
Derivative [Line Items] | ||
Total Derivatives, Liabilities | 21.6 | 94.1 |
Forward exchange contracts | Designated as Hedging Instrument | Other noncurrent liabilities | ||
Derivative [Line Items] | ||
Total Derivatives, Liabilities | 15.6 | 25.7 |
Forward exchange contracts | Not Designated as Hedging Instrument | Other receivables and current assets | ||
Derivative [Line Items] | ||
Total Derivatives, Assets | 16.5 | 6.4 |
Forward exchange contracts | Not Designated as Hedging Instrument | Other noncurrent assets | ||
Derivative [Line Items] | ||
Total Derivatives, Assets | 0.2 | 0.0 |
Forward exchange contracts | Not Designated as Hedging Instrument | Payables and accrued liabilities | ||
Derivative [Line Items] | ||
Total Derivatives, Liabilities | 21.8 | 4.6 |
Forward exchange contracts | Not Designated as Hedging Instrument | Other noncurrent liabilities | ||
Derivative [Line Items] | ||
Total Derivatives, Liabilities | 0.2 | 0.0 |
Interest rate management contracts | Designated as Hedging Instrument | Other receivables and current assets | ||
Derivative [Line Items] | ||
Total Derivatives, Assets | 1.2 | 13.0 |
Interest rate management contracts | Designated as Hedging Instrument | Other noncurrent assets | ||
Derivative [Line Items] | ||
Total Derivatives, Assets | 34.3 | 300.8 |
Interest rate management contracts | Designated as Hedging Instrument | Payables and accrued liabilities | ||
Derivative [Line Items] | ||
Total Derivatives, Liabilities | 1.2 | 0.0 |
Interest rate management contracts | Designated as Hedging Instrument | Other noncurrent liabilities | ||
Derivative [Line Items] | ||
Total Derivatives, Liabilities | 40.2 | 87.0 |
Interest rate management contracts | Not Designated as Hedging Instrument | Other receivables and current assets | ||
Derivative [Line Items] | ||
Total Derivatives, Assets | 1.7 | 3.9 |
Interest rate management contracts | Not Designated as Hedging Instrument | Other noncurrent assets | ||
Derivative [Line Items] | ||
Total Derivatives, Assets | 4.6 | 0.0 |
Interest rate management contracts | Not Designated as Hedging Instrument | Payables and accrued liabilities | ||
Derivative [Line Items] | ||
Total Derivatives, Liabilities | 0.0 | 0.0 |
Interest rate management contracts | Not Designated as Hedging Instrument | Other noncurrent liabilities | ||
Derivative [Line Items] | ||
Total Derivatives, Liabilities | $ 0.0 | $ 0.0 |
X | ||||||||||
- Definition Fair value, before effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets elected not to be offset. Excludes assets not subject to a master netting arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Fair value, before effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities elected not to be offset. Excludes liabilities not subject to a master netting arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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Pay vs Performance Disclosure - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
Pay vs Performance Disclosure | |||
Net Income Attributable to Air Products | $ 3,828.2 | $ 2,300.2 | $ 2,256.1 |
X | ||||||||||
- References Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
Leases (Presentation on Consolidated Balance Sheet) (Details) - USD ($) $ in Millions |
Sep. 30, 2024 |
Sep. 30, 2023 |
---|---|---|
Leases [Abstract] | ||
Operating lease right-of-use assets | $ 1,047.7 | $ 974.0 |
Payables and accrued liabilities | 100.3 | 94.7 |
Noncurrent operating lease liabilities | 677.9 | 631.1 |
Total operating lease liabilities | $ 778.2 | $ 725.8 |
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List] | Payables and accrued liabilities | Payables and accrued liabilities |
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Present value of lessee's discounted obligation for lease payments from operating lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Present value of lessee's discounted obligation for lease payments from operating lease, classified as current. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Indicates line item in statement of financial position that includes current operating lease liability. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Present value of lessee's discounted obligation for lease payments from operating lease, classified as noncurrent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of lessee's right to use underlying asset under operating lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
Financial Instruments Financial Instruments (Effects of Derivatives Not Designated as a Hedging Instrument) (Details) - Not Designated as Hedging Instrument - USD ($) $ in Millions |
12 Months Ended | |
---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
|
Other Income (Expense), Net | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Total (Gain) Loss Recognized in Income | $ 0.7 | $ (1.0) |
Other Income (Expense), Net | Forward exchange contracts | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Total (Gain) Loss Recognized in Income | 0.7 | (1.0) |
Other Income (Expense), Net | Other | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Total (Gain) Loss Recognized in Income | 0.0 | 0.0 |
Other Income (Expense), Net | De-Designated Interest Rate Swaps | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Total (Gain) Loss Recognized in Income | 0.0 | 0.0 |
Other Non-Operating Income (Expense), Net | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Total (Gain) Loss Recognized in Income | 20.9 | (2.1) |
Other Non-Operating Income (Expense), Net | Forward exchange contracts | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Total (Gain) Loss Recognized in Income | 0.0 | (2.4) |
Other Non-Operating Income (Expense), Net | Other | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Total (Gain) Loss Recognized in Income | 1.5 | 0.3 |
Other Non-Operating Income (Expense), Net | De-Designated Interest Rate Swaps | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Total (Gain) Loss Recognized in Income | $ 19.4 | $ 0.0 |
X | ||||||||||
- Definition Amount of increase (decrease) in the fair value of derivatives recognized in the income statement. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Details
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X | ||||||||||
- Details
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- Details
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- Details
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- Details
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X | ||||||||||
- Details
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Gain on Sale of Business (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||
---|---|---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2024 |
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
Segment Reporting Information [Line Items] | |||||
Gain on sale of business | $ 1,575.6 | $ 1,575.6 | $ 0.0 | $ 0.0 | |
Operating income | 4,466.1 | 2,494.6 | 2,338.8 | ||
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Liquified Natural Gas | |||||
Segment Reporting Information [Line Items] | |||||
Proceeds from sale | $ 1,800.0 | ||||
Gain on sale of business | 1,575.6 | ||||
Gain on sale of business, net of tax | $ 1,198.4 | ||||
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Liquified Natural Gas | Corporate and other | |||||
Segment Reporting Information [Line Items] | |||||
Operating income | $ 135.0 | $ 120.0 | $ 95.0 |
X | ||||||||||
- Definition Amount of gain (loss), net of tax, from sale and disposal of integrated set of activities and assets capable of being conducted and managed for purpose of providing return in form of dividend, lower cost, or other economic benefit to investor, owner, member and participant. No definition available.
|
X | ||||||||||
- Definition Amount of gain (loss) from sale and disposal of integrated set of activities and assets capable of being conducted and managed for purpose of providing return in form of dividend, lower cost, or other economic benefit to investor, owner, member and participant. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The cash inflow associated with the amount received from the sale of a portion of the company's business, for example a segment, division, branch or other business, during the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Details
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- Details
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X | ||||||||||
- Details
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Financial Instruments (Gains and Losses Recognized In Other Comprehensive Income) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
Summary of Net Investment Hedge Activity [Abstract] | |||
Tax effects | $ 33.0 | $ 32.8 | $ (71.2) |
Net Amount Recognized in OCI | 381.5 | 151.1 | (1,230.5) |
Summary of Cash Flow Hedge Activity [Abstract] | |||
Tax effects | (10.7) | (48.6) | 63.9 |
Net Amount Recognized in OCI | (159.5) | 369.2 | $ (120.3) |
Net Investment Hedges | |||
Summary of Net Investment Hedge Activity [Abstract] | |||
Total Amount Recognized in OCI | (131.9) | (145.1) | |
Tax effects | 32.2 | 35.8 | |
Net Amount Recognized in OCI | (99.7) | (109.3) | |
Net Investment Hedges | Forward exchange contracts | |||
Summary of Net Investment Hedge Activity [Abstract] | |||
Total Amount Recognized in OCI | (23.7) | (39.3) | |
Net Investment Hedges | Foreign currency debt | |||
Summary of Net Investment Hedge Activity [Abstract] | |||
Total Amount Recognized in OCI | (107.4) | (99.9) | |
Net Investment Hedges | Cross currency interest rate swaps | |||
Summary of Net Investment Hedge Activity [Abstract] | |||
Total Amount Recognized in OCI | (0.8) | (5.9) | |
Cash Flow Hedges | |||
Summary of Cash Flow Hedge Activity [Abstract] | |||
Total Amount Recognized in OCI | (148.8) | 417.8 | |
Tax effects | (10.7) | (48.6) | |
Net Amount Recognized in OCI | (159.5) | 369.2 | |
Cash Flow Hedges | Forward exchange contracts | |||
Summary of Cash Flow Hedge Activity [Abstract] | |||
Total Amount Recognized in OCI | 142.8 | 111.1 | |
Cash Flow Hedges | Forward exchange contracts, excluded components | |||
Summary of Cash Flow Hedge Activity [Abstract] | |||
Total Amount Recognized in OCI | (31.2) | (18.7) | |
Cash Flow Hedges | Other | |||
Summary of Cash Flow Hedge Activity [Abstract] | |||
Total Amount Recognized in OCI | $ (260.4) | $ 325.4 |
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- Definition Amount after tax, before reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of tax expense (benefit), before reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, after tax and before reclassification, of gain (loss) from derivative instrument designated and qualifying as cash flow hedge included in assessment of hedge effectiveness. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, before tax and reclassification, of gain (loss) from derivative instrument designated and qualifying cash flow hedge included in assessment of hedge effectiveness. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, before reclassification, of tax expense (benefit) for gain (loss) from derivative instrument designated and qualifying as cash flow hedge included in assessment of hedge effectiveness. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, before tax and adjustments, of gain (loss) from increase (decrease) in value of excluded component of derivative designated and qualifying as hedge. Adjustments include, but are not limited to, reclassifications for sale and settlement, and amounts recognized under systematic and rational method. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, before tax and reclassification, of gain (loss) from derivative designated and qualifying as net investment hedge. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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Financial Instruments (Carrying Amount and Cumulative Hedging Adjustment) (Details) - USD ($) $ in Millions |
Sep. 30, 2024 |
Sep. 30, 2023 |
---|---|---|
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Cumulative hedging adjustment, included in carrying amount | $ 36.6 | $ 80.5 |
Long-term debt | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Carrying amounts of hedged item | 2,057.1 | 2,011.4 |
Cumulative hedging adjustment, included in carrying amount | $ (36.6) | $ (80.5) |
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Amount of liability hedged in fair value hedging relationship. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of cumulative increase (decrease) in fair value of hedged liability in fair value hedge, attributable to hedged risk. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Acquisitions (Narrative) (Details) - USD ($) $ in Millions |
12 Months Ended | |||
---|---|---|---|---|
May 25, 2023 |
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
Asset Acquisition [Line Items] | ||||
Financing Receivables | $ 1,220.2 | $ 817.2 | ||
Financing receivables progress payments | 403.0 | $ 665.1 | $ 0.0 | |
Natural Gas-To-Syngas Processing Facility | ||||
Asset Acquisition [Line Items] | ||||
Price of acquisition | $ 1,000.0 | |||
Term of project agreement | 15 years | |||
Financing Receivables | 920.0 | |||
Financing receivables progress payments | $ 120.0 |
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- Definition Term Of Project Agreement No definition available.
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Purchase price of expected asset acquisition prior to consideration being transferred. Excludes business acquisition. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amortized cost, after allowance for credit loss, of financing receivable. Excludes financing receivable covered under loss sharing agreement and net investment in lease. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The cash outflow for the purchase of amounts due from customers, clients, lessees, borrowers, or others under the terms of its agreements therewith. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Leases (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Operating Leases | Amounts associated with operating leases and their presentation on our consolidated balance sheets are as follows:
(A)Calculated on the basis of the remaining lease term and the lease liability balance for each lease as of the reporting date. (B)Calculated on the basis of the discount rate used to calculate the lease liability for each lease and the remaining balance of the lease payments for each lease as of the reporting date.
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Schedule of Maturity Analysis of Lease Liabilities | The following maturity analysis of our operating lease liabilities as of 30 September 2024 presents the undiscounted cash flows for each of the next five years and thereafter with a reconciliation to the lease liability recognized on our balance sheet:
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Schedule of Lease Receivables | The table below details balances associated with our lease receivables:
(A)Presented within "Other receivables and current assets" on our consolidated balance sheets. As of 30 September 2024, minimum lease payments expected to be collected were as follows:
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Sales-type Lease, Lease Income | The table below summarizes lease payments collected in fiscal years 2024, 2023, and 2022:
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- Definition Schedule Of Right Of Use Assets and Lease Liabilities, Lessee [Table Text Block] No definition available.
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- References No definition available.
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Tabular disclosure of maturity of undiscounted cash flows to be received on annual basis for sales-type and direct financing leases receivable. Includes, but is not limited to, reconciliation to lease receivable recognized in statement of financial position. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Tabular disclosure of components of income from sales-type lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Cover - USD ($) $ in Billions |
12 Months Ended | ||
---|---|---|---|
Sep. 30, 2024 |
Oct. 31, 2024 |
Mar. 31, 2024 |
|
Entity Information [Line Items] | |||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Sep. 30, 2024 | ||
Current Fiscal Year End Date | --09-30 | ||
Document Transition Report | false | ||
Entity File Number | 001-04534 | ||
Entity Registrant Name | AIR PRODUCTS AND CHEMICALS, INC. | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 23-1274455 | ||
Entity Address, Address Line One | 1940 Air Products Boulevard | ||
Entity Address, City or Town | Allentown | ||
Entity Address, State or Province | PA | ||
Entity Address, Postal Zip Code | 18106-5500 | ||
City Area Code | 610 | ||
Local Phone Number | 481-4911 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | true | ||
Document Financial Statement Error Correction [Flag] | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 53.7 | ||
Entity Common Stock, Shares Outstanding | 222,378,909 | ||
Documents Incorporated by Reference | Portions of the registrant’s definitive Proxy Statement for the 2025 Annual Meeting of Shareholders are incorporated by reference into Part III. | ||
Entity Central Index Key | 0000002969 | ||
Document Fiscal Year Focus | 2024 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
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 | ||
4.000% Euro Notes due 2035 | |||
Entity Information [Line Items] | |||
Title of 12(b) Security | 4.000% Euro Notes due 2035 | ||
Trading Symbol | APD35 | ||
Security Exchange Name | NYSE |
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- Definition Boolean flag that is true when the XBRL content amends previously-filed or accepted submission. No definition available.
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- Definition Area code of city No definition available.
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- Definition End date of current fiscal year in the format --MM-DD. No definition available.
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- Definition Boolean flag that is true only for a form used as an annual report. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Indicates whether any of the financial statement period in the filing include a restatement due to error correction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Fiscal period values are FY, Q1, Q2, and Q3. 1st, 2nd and 3rd quarter 10-Q or 10-QT statements have value Q1, Q2, and Q3 respectively, with 10-K, 10-KT or other fiscal year statements having FY. No definition available.
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- Definition This is focus fiscal year of the document report in YYYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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- Definition For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD. No definition available.
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- Definition Boolean flag that is true only for a form used as a transition report. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Name of the City or Town No definition available.
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- Definition Code for the postal or zip code No definition available.
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- Definition Name of the state or province. No definition available.
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- Definition A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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- Definition Indicate 'Yes' or 'No' whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen. No definition available.
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- Definition Indicate whether the registrant is one of the following: Large Accelerated Filer, Accelerated Filer, Non-accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Two-character EDGAR code representing the state or country of incorporation. No definition available.
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- Definition The aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant's most recently completed second fiscal quarter. No definition available.
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- Definition The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Boolean flag that is true when the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Indicates that the company is a Smaller Reporting Company (SRC). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Indicate 'Yes' or 'No' if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. No definition available.
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Financial Instruments (Cash Flow and Fair Value Hedges Location and Amounts Recognized) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
Total Amounts Presented in the Consolidated Income Statement in which the Effects of Cash Flow and Fair Value Hedges are Recorded | |||
Sales | $ 12,100.6 | $ 12,600.0 | $ 12,698.6 |
Cost of Sales | 8,168.7 | 8,833.0 | 9,338.5 |
Other Nonoperating Income (Expense), Net | (73.8) | (39.0) | 62.4 |
(Gain) Loss Effects of Cash Flow Hedging: | |||
Tax effects | (9.7) | (13.6) | 30.3 |
Net (Gain) Loss Reclassified from OCI to Income | (33.7) | (43.9) | $ 91.4 |
Cash Flow Hedges | Sales | |||
(Gain) Loss Effects of Cash Flow Hedging: | |||
Amount reclassified from OCI into income | 0.0 | (0.6) | |
Tax effects | 0.0 | (0.1) | |
Net (Gain) Loss Reclassified from OCI to Income | 0.0 | (0.5) | |
Cash Flow Hedges | Cost of Sales | |||
(Gain) Loss Effects of Cash Flow Hedging: | |||
Amount reclassified from OCI into income | 2.4 | 4.9 | |
Tax effects | 0.5 | 1.2 | |
Net (Gain) Loss Reclassified from OCI to Income | 1.9 | 3.7 | |
Cash Flow Hedges | Interest Expense | |||
(Gain) Loss Effects of Cash Flow Hedging: | |||
Amount reclassified from OCI into income | 3.9 | 5.5 | |
Tax effects | 1.6 | 2.0 | |
Net (Gain) Loss Reclassified from OCI to Income | 2.3 | 3.5 | |
Cash Flow Hedges | Other Non-Operating Income (Expense), Net | |||
(Gain) Loss Effects of Cash Flow Hedging: | |||
Amount reclassified from OCI into income | (49.7) | (67.3) | |
Tax effects | (11.8) | (16.7) | |
Net (Gain) Loss Reclassified from OCI to Income | (37.9) | (50.6) | |
Cash Flow Hedges | Forward exchange contracts | Sales | |||
(Gain) Loss Effects of Cash Flow Hedging: | |||
Amount reclassified from OCI into income | 0.0 | (0.6) | |
Cash Flow Hedges | Forward exchange contracts | Cost of Sales | |||
(Gain) Loss Effects of Cash Flow Hedging: | |||
Amount reclassified from OCI into income | 2.4 | 4.9 | |
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 | (86.3) | (77.8) | |
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 | 23.5 | 15.7 | |
Cash Flow Hedges | Other | Sales | |||
(Gain) Loss Effects of Cash Flow Hedging: | |||
Amount reclassified from OCI into income | 0.0 | 0.0 | |
(Gain) Loss Effects of Fair Value Hedging | |||
Other Comprehensive Income (Loss), De-Designated Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 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 | |
(Gain) Loss Effects of Fair Value Hedging | |||
Other Comprehensive Income (Loss), De-Designated Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 0.0 | 0.0 | |
Cash Flow Hedges | Other | Interest Expense | |||
(Gain) Loss Effects of Cash Flow Hedging: | |||
Amount reclassified from OCI into income | 3.9 | 5.5 | |
(Gain) Loss Effects of Fair Value Hedging | |||
Other Comprehensive Income (Loss), De-Designated Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 0.0 | 0.0 | |
Cash Flow Hedges | Other | Other Non-Operating Income (Expense), Net | |||
(Gain) Loss Effects of Cash Flow Hedging: | |||
Amount reclassified from OCI into income | 16.2 | (5.2) | |
(Gain) Loss Effects of Fair Value Hedging | |||
Other Comprehensive Income (Loss), De-Designated Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | (3.1) | 0.0 | |
Fair Value Hedges | Sales | |||
(Gain) Loss Effects of Fair Value Hedging | |||
Total (Gain) Loss Recognized in Income | 0.0 | 0.0 | |
Fair Value Hedges | Cost of Sales | |||
(Gain) Loss Effects of Fair Value Hedging | |||
Total (Gain) Loss Recognized in Income | 0.0 | 0.0 | |
Fair Value Hedges | Interest Expense | |||
(Gain) Loss Effects of Fair Value Hedging | |||
Total (Gain) Loss Recognized in Income | 0.0 | 0.0 | |
Fair Value Hedges | Other Non-Operating Income (Expense), Net | |||
(Gain) Loss Effects of Fair Value Hedging | |||
Total (Gain) Loss Recognized in Income | 0.0 | 0.0 | |
Fair Value Hedges | Other | Sales | |||
(Gain) Loss Effects of Fair Value Hedging | |||
Hedges items | 0.0 | 0.0 | |
Derivatives designated as hedging instruments | 0.0 | 0.0 | |
Fair Value Hedges | Other | Cost of Sales | |||
(Gain) Loss Effects of Fair Value Hedging | |||
Hedges items | 0.0 | 0.0 | |
Derivatives designated as hedging instruments | 0.0 | 0.0 | |
Fair Value Hedges | Other | Interest Expense | |||
(Gain) Loss Effects of Fair Value Hedging | |||
Hedges items | 43.9 | (3.4) | |
Derivatives designated as hedging instruments | (43.9) | 3.4 | |
Fair Value Hedges | Other | Other Non-Operating Income (Expense), Net | |||
(Gain) Loss Effects of Fair Value Hedging | |||
Hedges items | 0.0 | 0.0 | |
Derivatives designated as hedging instruments | $ 0.0 | $ 0.0 |
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- Definition Other Comprehensive Income (Loss), De-Designated Cash Flow Hedge, Gain (Loss), Reclassification, before Tax No definition available.
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- Definition Amount of gain (loss) from the increase (decrease) in fair value of derivative and nonderivative instruments designated as fair value hedging instruments recognized in the income statement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of the increase (decrease) in fair value of the hedged item in a fair value hedge recognized in the income statement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Total amount of gain (loss) derived from fair value hedges recognized in earnings in the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Amount, after tax, of reclassification of gain (loss) from accumulated other comprehensive income (AOCI) for derivative instrument designated and qualifying as cash flow hedge included in assessment of hedge effectiveness. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, before tax, of reclassification of gain (loss) from accumulated other comprehensive income (AOCI) for derivative instrument designated and qualifying as cash flow hedge included in assessment of hedge effectiveness. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of tax expense (benefit) for reclassification of gain (loss) from accumulated other comprehensive income (AOCI) for derivative instrument designated and qualifying as cash flow hedge included in assessment of hedge effectiveness. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, before tax, of adjustments from accumulated other comprehensive income (AOCI) for gain (loss) from increase (decrease) in value of excluded component of derivative designated and qualifying as hedge. Adjustments include, but are not limited to, reclassifications for sale and settlement, and amounts recognized under systematic and rational method. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Business Segment and Geographic Information (Schedule of Segment Reporting Information) (Details) - USD ($) $ in Millions |
12 Months Ended | ||||
---|---|---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|||
Segment Reporting Information [Line Items] | |||||
Sales | $ 12,100.6 | $ 12,600.0 | $ 12,698.6 | ||
Operating income (loss) | 4,466.1 | 2,494.6 | 2,338.8 | ||
Depreciation and amortization | 1,451.1 | 1,358.3 | 1,338.2 | ||
Equity affiliates' income | 647.7 | 604.3 | 481.5 | ||
Investment in net assets of and advances to equity affiliates | 4,792.5 | 4,617.8 | |||
Total assets | [1] | 39,574.6 | 32,002.5 | ||
Operating Segments | |||||
Segment Reporting Information [Line Items] | |||||
Sales | 12,100.6 | 12,600.0 | 12,698.6 | ||
Operating income (loss) | 2,947.5 | 2,739.2 | 2,412.5 | ||
Depreciation and amortization | 1,451.1 | 1,358.3 | 1,338.2 | ||
Equity affiliates' income | 647.7 | 604.3 | 496.3 | ||
Expenditures for long-lived assets | 6,796.7 | 4,626.4 | 2,926.5 | ||
Investment in net assets of and advances to equity affiliates | 4,792.5 | 4,617.8 | |||
Total assets | 39,574.6 | 32,002.5 | |||
Americas | Operating Segments | |||||
Segment Reporting Information [Line Items] | |||||
Sales | 5,040.1 | 5,369.3 | 5,368.9 | ||
Operating income (loss) | 1,565.1 | 1,439.7 | 1,174.4 | ||
Depreciation and amortization | 699.3 | 649.3 | 629.5 | ||
Equity affiliates' income | 158.8 | 109.2 | 98.2 | ||
Expenditures for long-lived assets | 2,733.1 | 2,033.7 | 1,353.1 | ||
Investment in net assets of and advances to equity affiliates | 472.9 | 476.9 | |||
Total assets | 12,383.8 | 9,927.5 | |||
Asia | Operating Segments | |||||
Segment Reporting Information [Line Items] | |||||
Sales | 3,224.3 | 3,216.1 | 3,143.3 | ||
Operating income (loss) | 859.2 | 906.5 | 898.3 | ||
Depreciation and amortization | 471.0 | 433.5 | 436.5 | ||
Equity affiliates' income | 32.9 | 29.7 | 22.1 | ||
Expenditures for long-lived assets | 574.8 | 663.4 | 779.2 | ||
Investment in net assets of and advances to equity affiliates | 322.9 | 285.2 | |||
Total assets | 7,436.5 | 7,009.6 | |||
Europe | Operating Segments | |||||
Segment Reporting Information [Line Items] | |||||
Sales | 2,823.4 | 2,963.1 | 3,086.1 | ||
Operating income (loss) | 810.0 | 663.4 | 503.4 | ||
Depreciation and amortization | 207.1 | 196.2 | 195.2 | ||
Equity affiliates' income | 88.1 | 102.5 | 78.2 | ||
Expenditures for long-lived assets | 865.2 | 482.4 | 312.6 | ||
Investment in net assets of and advances to equity affiliates | 573.8 | 504.9 | |||
Total assets | 5,849.2 | 4,649.8 | |||
Middle East and India | Operating Segments | |||||
Segment Reporting Information [Line Items] | |||||
Sales | 134.4 | 162.5 | 129.5 | ||
Operating income (loss) | 5.9 | 16.9 | 21.1 | ||
Depreciation and amortization | 26.6 | 27.5 | 26.9 | ||
Equity affiliates' income | 347.5 | 349.8 | 293.9 | ||
Expenditures for long-lived assets | 2,517.5 | 1,312.7 | 271.6 | ||
Investment in net assets of and advances to equity affiliates | 3,317.7 | 3,265.2 | |||
Total assets | 8,477.4 | 5,708.4 | |||
Corporate and other | Operating Segments | |||||
Segment Reporting Information [Line Items] | |||||
Sales | 878.4 | 889.0 | 970.8 | ||
Operating income (loss) | (292.7) | (287.3) | (184.7) | ||
Depreciation and amortization | 47.1 | 51.8 | 50.1 | ||
Equity affiliates' income | 20.4 | 13.1 | 3.9 | ||
Expenditures for long-lived assets | 106.1 | 134.2 | $ 210.0 | ||
Investment in net assets of and advances to equity affiliates | 105.2 | 85.6 | |||
Total assets | $ 5,427.7 | $ 4,707.2 | |||
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- Definition Amount of asset recognized for present right to economic benefit. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (loss) for proportionate share of equity method investee's income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of investment in equity method investee and investment in and advance to affiliate. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of expenditure for addition to long-lived assets included in determination of segment assets by chief operating decision maker (CODM) or otherwise regularly provided to CODM. Excludes expenditure for addition to financial instrument, long-term customer relationship of financial institution, mortgage and other servicing rights, deferred policy acquisition cost, and deferred tax assets. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Retirement Benefits (Changes Recognized in Other Comprehensive Income on Pretax Basis) (Details) - Defined Benefit Pension Plan - USD ($) $ in Millions |
12 Months Ended | |
---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
|
U.S. | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net actuarial (gain) loss arising during the period | $ 11.9 | $ (2.6) |
Amortization of net actuarial loss | (58.4) | (61.1) |
Prior service cost arising during the period | 1.3 | 0.3 |
Amortization of prior service (cost) credit | (1.1) | (1.2) |
Total | (46.3) | (64.6) |
International | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net actuarial (gain) loss arising during the period | (56.5) | 7.0 |
Amortization of net actuarial loss | (14.1) | (12.2) |
Prior service cost arising during the period | 0.0 | 7.0 |
Amortization of prior service (cost) credit | (0.9) | 1.2 |
Total | $ (71.5) | $ 3.0 |
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- Definition Amount, before tax, of cost (credit) of benefit change attributable to participants' prior service from plan amendment or plan initiation of defined benefit plan, that has not been recognized in net periodic benefit cost (credit). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, before tax, of reclassification adjustment from accumulated other comprehensive (income) loss for prior service cost (credit) of defined benefit plan. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, before tax, after reclassification adjustment, of (increase) decrease in accumulated other comprehensive income for defined benefit plan. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, before tax, of gain (loss) for (increase) decrease in value of benefit obligation for change in actuarial assumptions and increase (decrease) in value of plan assets from experience different from that assumed of defined benefit plan, that has not been recognized in net periodic benefit (cost) credit. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, before tax, of reclassification adjustment from accumulated other comprehensive income (loss) for gain (loss) of defined benefit plan. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Leases (Weighted-Average Remaining Lease Term and Discount Rate) (Details) |
Sep. 30, 2024 |
Sep. 30, 2023 |
---|---|---|
Leases [Abstract] | ||
Weighted-average remaining lease term (in years) | 20 years | 19 years 10 months 24 days |
Weighted-average discount rate (percent) | 2.90% | 2.60% |
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- References No definition available.
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- Definition Weighted average discount rate for operating lease calculated at point in time. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Weighted average remaining lease term for operating lease, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Equity Affiliates |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity Method Investments and Joint Ventures [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity Affiliates | EQUITY AFFILIATES "Investment in net assets of and advances to equity affiliates" on our consolidated balance sheets were $4,792.5 and $4,617.8 as of 30 September 2024 and 2023, respectively. Substantially all our equity method investments are foreign affiliates. As of 30 September 2024, our equity affiliates and related ownership percentages were as follows:
Dividends and other distributions received from equity affiliates were $441.7, $344.3, and $285.1 in fiscal years 2024, 2023, and 2022, respectively. As of 30 September 2024 and 2023, the amount of investment in companies accounted for by the equity method included equity method goodwill of $38.7 and $41.3, respectively. Summarized Financial Information The summarized financial information presented below is on a combined 100% basis and has been compiled based on the financial statements of our equity affiliates.
(A)Includes financing revenue of $1,128.6, $1,011.3, and $674.6 in fiscal years 2024, 2023, and 2022, respectively. Financing revenue primarily relates to the JIGPC joint venture discussed below. Investment in JIGPC During the first quarter of fiscal year 2022, we made an initial investment of $1.6 billion to acquire a 55% ownership interest in the JIGPC joint venture, of which 4% is attributable to the noncontrolling partner of APQ. During the second quarter of fiscal year 2023, we completed a second investment of $908, which did not change our ownership interest. Our investments were executed to align with the timing of the joint venture's purchase of project assets. The amounts invested included approximately $130 and $73 received from the noncontrolling partner of APQ for the first and second investment, respectively. The carrying value of our investment in JIGPC, including amounts attributable to noncontrolling interests, totaled $2,871.2 and $2,862.2 as of 30 September 2024 and 2023, respectively. We determined JIGPC is a VIE for which we have an equity interest and exercise significant influence but are not the primary beneficiary. Refer to Note 3, Variable Interest Entities, for additional information. Jazan Gas Project Company Jazan Gas Project Company (“JGPC”), a previous joint venture between Air Products and ACWA Holding, had a 20-year agreement to supply oxygen and nitrogen to Aramco’s oil refinery and power plant in Jazan. The parties terminated the supply agreement in October 2021, and JGPC sold its air separation units to Aramco. We initially sold these assets to JGPC and deferred profit proportionate to our 26% 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. Additionally, our consolidated statement of cash flows for fiscal year 2022 includes a noncash adjustment of $94.4 to reduce the carrying value of our investment in JGPC to zero and remove an obligation to make equity contributions to JGPC under an equity bridge loan that was no longer required. Equity Method Investment Impairment During the fourth quarter of fiscal year 2022, we determined there was an other-than-temporary impairment in two small equity affiliates in the Asia segment. As a result, we recorded a noncash charge of $14.8 to write down the full carrying value of the investments. This charge is reflected on our consolidated income statements within “Equity affiliates' income” and was not recorded in segment results.
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- References No definition available.
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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. Reference 1: http://www.xbrl.org/2003/role/recommendedDisclosureRef
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Business and Asset Actions- Narrative (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
Restructuring and Related Activities [Abstract] | |||
Business and asset actions | $ 57.0 | $ 244.6 | $ 73.7 |
Business and asset actions attributable to Air Products after tax | $ 43.8 | $ 204.9 | $ 61.0 |
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- Definition The portion of expenses associated with exit or disposal activities pursuant to an authorized plan, net of income taxes, that is attributable to the parent. Excludes expenses related to a discontinued operation or an asset retirement obligation. No definition available.
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- References No definition available.
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- Definition Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Acquisitions |
12 Months Ended |
---|---|
Sep. 30, 2024 | |
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] | |
Acquisitions | ACQUISITION On 25 May 2023, we entered into an investment agreement with the Government of the Republic of Uzbekistan and Uzbekneftegaz JSC (“UNG”) to purchase a natural gas-to-syngas processing facility in Qashqadaryo Province, Uzbekistan, for $1 billion. Under the agreement, Air Products will acquire, own, and operate the facility and supply all offtake products to UNG under a 15-year on-site contract, with UNG supplying the feedstock natural gas and utilities. Throughout this term, we receive a fixed monthly fee (regardless of whether UNG requires the output) comprised of two components: a plant capacity fee and an operating and maintenance fee. We are accounting for the transaction as a financing arrangement as we did not obtain accounting control of the facility due to UNG having the unilateral right to reacquire the facility at the end of the contract term. The repurchase price on a discounted basis, which consists of the total monthly plant capacity fees received over the term of the arrangement plus the repurchase option price, exceeds our purchase price. Accordingly, our progress payments of approximately $920, of which $120 was paid during fiscal year 2024, are reflected within "Financing receivables" on our consolidated balance sheet as of 30 September 2024.
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- Definition The entire disclosure for asset acquisition. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Commitments and Contingencies (Guarantees and Other Narrative) (Details) $ in Millions |
Sep. 30, 2024
USD ($)
|
---|---|
Guarantor Obligations [Line Items] | |
Equity contributions or payments required | $ 0.0 |
Purchase obligations in 2024 | 7,514.0 |
Unconditional purchase obligations | 15,891.0 |
Purchase Commitments for Plant and Equipment | |
Guarantor Obligations [Line Items] | |
Unconditional purchase obligations | 8,800.0 |
NEOM Green Hydrogen Company | |
Guarantor Obligations [Line Items] | |
Unconditional purchase obligations | 3,000.0 |
Helium Purchases | |
Guarantor Obligations [Line Items] | |
Unconditional purchase obligations | 6,200.0 |
Jazan Gas Projects Company | Performance Guarantee | |
Guarantor Obligations [Line Items] | |
Maximum potential payment under guarantees | 244.5 |
Variable Interest Entity, Primary Beneficiary | |
Guarantor Obligations [Line Items] | |
Maximum potential payment under guarantees | $ 900.0 |
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- Definition Equity contributions or payments pertaining to guarantee obligation No definition available.
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- Definition Maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee or each group of similar guarantees before reduction for potential recoveries under recourse or collateralization provisions. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of fixed and determinable portion of unrecorded unconditional purchase obligation to be paid in next fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Includes, but is not limited to, lease not yet commenced. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of unrecorded obligation to transfer funds in future for fixed or minimum amount or quantity of product and service at fixed or minimum price. Includes, but is not limited to, lease not yet commenced and take-or-pay and throughput contracts. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Intangible Assets |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Intangible Assets | INTANGIBLE ASSETS The table below summarizes the major classes of our intangible assets:
Amortization expense for intangible assets was $31.5, $32.5, and $35.5 in fiscal years 2024, 2023, and 2022, respectively. Refer to Note 1, Basis of Presentation and Major Accounting Policies, for the amortization periods for each major class of intangible assets. The table below details the amount of amortization expense expected to be recorded for our finite-lived intangible assets in each of the next five years and thereafter:
Indefinite-lived intangible assets are subject to impairment testing at least annually or more frequently if events or changes in circumstances indicate that potential impairment exists. The impairment test for indefinite-lived intangible assets involves an optional assessment of qualitative factors to determine whether it is more likely than not that the fair value of the asset is less than its carrying value. If qualitative factors alone are not sufficient to support this conclusion, we perform quantitative testing that involves calculating the fair value of the indefinite-lived intangible asset. If the fair value of the asset is less than its carrying value, the difference is recorded as an impairment loss, not to exceed the total carrying value of the asset. During the fourth quarter of fiscal year 2024, we conducted our annual impairment test and concluded that it was more likely than not that the fair value of each indefinite-lived intangible asset was greater than its carrying value.
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- References No definition available.
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- Definition The entire disclosure for all or part of the information related to intangible assets. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Capital Stock (Changes in Common Shares) (Details) - shares |
12 Months Ended | ||
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Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
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Changes in Common Shares [Roll Forward] | |||
Balance, beginning of year (shares) | 222,199,845 | 221,838,696 | 221,396,755 |
Issuance of treasury shares for stock option and award plans (shares) | 172,573 | 361,149 | 441,941 |
Balance, end of year (shares) | 222,372,418 | 222,199,845 | 221,838,696 |
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- Definition Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
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- Definition Number, after forfeiture, of shares or units issued under share-based payment arrangement. Excludes shares or units issued under employee stock ownership plan (ESOP). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Retirement Benefits (Plan Assets Target Allocation) (Details) - Defined Benefit Pension Plan |
Sep. 30, 2024 |
Sep. 30, 2023 |
---|---|---|
U.S. | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual allocation (percent) | 100.00% | 100.00% |
U.S. | Equity securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual allocation (percent) | 20.00% | 19.00% |
U.S. | Fixed income securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual allocation (percent) | 73.00% | 72.00% |
U.S. | Real estate/other | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual allocation (percent) | 6.00% | 8.00% |
U.S. | Cash | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual allocation (percent) | 1.00% | 1.00% |
U.S. | Minimum | Equity securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target allocation (percent) | 16.00% | |
U.S. | Minimum | Fixed income securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target allocation (percent) | 66.00% | |
U.S. | Minimum | Real estate/other | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target allocation (percent) | 4.00% | |
U.S. | Minimum | Cash | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target allocation (percent) | 0.00% | |
U.S. | Maximum | Equity securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target allocation (percent) | 27.00% | |
U.S. | Maximum | Fixed income securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target allocation (percent) | 80.00% | |
U.S. | Maximum | Real estate/other | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target allocation (percent) | 7.00% | |
U.S. | Maximum | Cash | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target allocation (percent) | 0.00% | |
International | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual allocation (percent) | 100.00% | 100.00% |
International | Equity securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual allocation (percent) | 14.00% | 19.00% |
International | Fixed income securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual allocation (percent) | 86.00% | 80.00% |
International | Real estate/other | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual allocation (percent) | 0.00% | 0.00% |
International | Cash | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual allocation (percent) | 0.00% | 1.00% |
International | Minimum | Equity securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target allocation (percent) | 5.00% | |
International | Minimum | Fixed income securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target allocation (percent) | 78.00% | |
International | Minimum | Real estate/other | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target allocation (percent) | 0.00% | |
International | Minimum | Cash | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target allocation (percent) | 0.00% | |
International | Maximum | Equity securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target allocation (percent) | 22.00% | |
International | Maximum | Fixed income securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target allocation (percent) | 95.00% | |
International | Maximum | Real estate/other | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target allocation (percent) | 0.00% | |
International | Maximum | Cash | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target allocation (percent) | 0.00% |
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Percentage of target investment allocation to total plan assets. Includes, but is not limited to, percentage on weighted-average basis if more than one plan. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Percentage of actual investment allocation to total plan assets. Includes, but is not limited to, percentage on weighted-average basis if more than one plan. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Retirement Benefits (Change in Projected Benefit Obligation) (Details) - Defined Benefit Pension Plan - USD ($) $ in Millions |
12 Months Ended | ||
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Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Service cost | $ 20.9 | $ 23.2 | $ 39.8 |
Interest cost | 194.9 | 189.8 | 102.8 |
U.S. | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Obligation at beginning of year | 2,348.8 | 2,450.8 | |
Service cost | 9.6 | 10.9 | 18.3 |
Interest cost | 134.9 | 129.9 | 73.9 |
Amendments | 1.3 | 0.3 | |
Actuarial loss (gain) | 296.2 | (68.3) | |
Curtailments | 0.0 | 0.0 | |
Settlements | (3.6) | (4.7) | |
Participant contributions | 0.0 | 0.0 | |
Benefits paid | (174.1) | (170.1) | |
Currency translation and other | 0.0 | 0.0 | |
Obligation at end of year | 2,613.1 | 2,348.8 | 2,450.8 |
International | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Obligation at beginning of year | 1,162.4 | 1,137.5 | |
Service cost | 11.3 | 12.3 | 21.5 |
Interest cost | 60.0 | 59.9 | 28.9 |
Amendments | 0.0 | 7.0 | |
Actuarial loss (gain) | 50.7 | (80.1) | |
Curtailments | 0.0 | (14.8) | |
Settlements | (8.6) | (3.4) | |
Participant contributions | 0.7 | 0.8 | |
Benefits paid | (55.8) | (52.8) | |
Currency translation and other | 118.0 | 96.0 | |
Obligation at end of year | $ 1,338.7 | $ 1,162.4 | $ 1,137.5 |
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- Definition Amount of gain (loss) from change in actuarial assumptions which (increases) decreases benefit obligation of defined benefit plan. Assumptions include, but are not limited to, interest, mortality, employee turnover, salary, and temporary deviation from substantive plan. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of actuarial present value of benefits attributed to service rendered by employee for defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of payment to participant of defined benefit plan which decreases benefit obligation. For pension plan, payment includes, but is not limited to, pension benefits and death benefits. For other postretirement plan, payment includes, but is not limited to, prescription drug benefits, health care benefits, life insurance benefits, and legal, educational and advisory services. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of contributions received by defined benefit plan from participant which increase benefit obligation. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
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- Definition Amount of (increase) decrease in benefit obligation of defined benefit plan from event reducing expected years of future service of present employees or eliminating accrual of benefits for some or all future services of present employees. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of foreign currency translation gain (loss) which (increases) decreases benefit obligation of defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of cost recognized for passage of time related to defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of increase (decrease) in benefit obligation of defined benefit plan from change in terms of existing plan or initiation of new plan. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of cost for actuarial present value of benefits attributed to service rendered by employee for defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of (increase) decrease to benefit obligation of defined benefit plan from irrevocable action relieving primary responsibility for benefit obligation and eliminating risk for obligation and assets used to effect settlement. Includes, but is not limited to, lump-sum cash payment to participant in exchange for right to receive specified benefits, purchase of nonparticipating annuity contract and change from remeasurement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Revenue Recognition (Contract Assets and Liabilities) (Details) - USD ($) $ in Millions |
12 Months Ended | |
---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
|
Revenue from Contract with Customer [Abstract] | ||
Contract assets - current | $ 76.2 | $ 124.7 |
Contract fulfillment costs - current | 103.7 | 89.0 |
Contract liabilities - current | 240.0 | 413.0 |
Contract liabilities - noncurrent | 290.0 | $ 136.9 |
Revenue recognized that was previously included in current contract liabilities | $ 335.0 |
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- Definition Amount, after accumulated amortization and accumulated impairment loss, of asset recognized from cost incurred to obtain or fulfill contract with customer; classified as current. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after allowance for credit loss, of right to consideration in exchange for good or service transferred to customer when right is conditioned on something other than passage of time, classified as current. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of obligation to transfer good or service to customer for which consideration has been received or is receivable, classified as current. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of obligation to transfer good or service to customer for which consideration has been received or is receivable, classified as noncurrent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue recognized that was previously included in balance of obligation to transfer good or service to customer for which consideration from customer has been received or is due. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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Capital Stock (Tables) |
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Schedule of Common Stock Outstanding | A summary of the changes in common shares issued and outstanding in fiscal year 2024 is presented below:
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- References No definition available.
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- Definition Tabular disclosure of the change in common stock outstanding. No definition available.
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Income Taxes (Summary of Income Tax Examinations) (Details) |
12 Months Ended |
---|---|
Sep. 30, 2024 | |
U.S. Federal | U.S. Federal | Minimum | |
Income Tax Examination [Line Items] | |
Open tax year subject to examination | 2018 |
U.S. Federal | U.S. Federal | Maximum | |
Income Tax Examination [Line Items] | |
Open tax year subject to examination | 2024 |
U.S. State | U.S. State | Minimum | |
Income Tax Examination [Line Items] | |
Open tax year subject to examination | 2013 |
U.S. State | U.S. State | Maximum | |
Income Tax Examination [Line Items] | |
Open tax year subject to examination | 2024 |
Foreign | Canada | Minimum | |
Income Tax Examination [Line Items] | |
Open tax year subject to examination | 2018 |
Foreign | Canada | Maximum | |
Income Tax Examination [Line Items] | |
Open tax year subject to examination | 2024 |
Foreign | France | Minimum | |
Income Tax Examination [Line Items] | |
Open tax year subject to examination | 2021 |
Foreign | France | Maximum | |
Income Tax Examination [Line Items] | |
Open tax year subject to examination | 2024 |
Foreign | Netherlands | Minimum | |
Income Tax Examination [Line Items] | |
Open tax year subject to examination | 2019 |
Foreign | Netherlands | Maximum | |
Income Tax Examination [Line Items] | |
Open tax year subject to examination | 2024 |
Foreign | Spain | Minimum | |
Income Tax Examination [Line Items] | |
Open tax year subject to examination | 2017 |
Foreign | Spain | Maximum | |
Income Tax Examination [Line Items] | |
Open tax year subject to examination | 2024 |
Foreign | United Kingdom | Minimum | |
Income Tax Examination [Line Items] | |
Open tax year subject to examination | 2021 |
Foreign | United Kingdom | Maximum | |
Income Tax Examination [Line Items] | |
Open tax year subject to examination | 2024 |
Foreign | Saudi Arabia | Minimum | |
Income Tax Examination [Line Items] | |
Open tax year subject to examination | 2019 |
Foreign | Saudi Arabia | Maximum | |
Income Tax Examination [Line Items] | |
Open tax year subject to examination | 2024 |
Foreign | China | Minimum | |
Income Tax Examination [Line Items] | |
Open tax year subject to examination | 2011 |
Foreign | China | Maximum | |
Income Tax Examination [Line Items] | |
Open tax year subject to examination | 2024 |
Foreign | South Korea | Minimum | |
Income Tax Examination [Line Items] | |
Open tax year subject to examination | 2015 |
Foreign | South Korea | Maximum | |
Income Tax Examination [Line Items] | |
Open tax year subject to examination | 2024 |
Foreign | Taiwan | Minimum | |
Income Tax Examination [Line Items] | |
Open tax year subject to examination | 2019 |
Foreign | Taiwan | Maximum | |
Income Tax Examination [Line Items] | |
Open tax year subject to examination | 2024 |
Foreign | Chile | Minimum | |
Income Tax Examination [Line Items] | |
Open tax year subject to examination | 2020 |
Foreign | Chile | Maximum | |
Income Tax Examination [Line Items] | |
Open tax year subject to examination | 2024 |
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Tax year that remains open to examination under enacted tax laws, in YYYY format. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Variable Interest Entities- Project Financing (Details) - USD ($) $ in Millions |
12 Months Ended | |
---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
|
Variable Interest Entity [Line Items] | ||
Long-term debt, principal amount | $ 14,485.5 | $ 10,292.5 |
Deferred financing charges and discounts | 304.5 | 165.7 |
Short-term borrowings | 83.5 | 259.5 |
Variable Interest Entity, Primary Beneficiary | NEOM Green Hydrogen Company | ||
Variable Interest Entity [Line Items] | ||
Project financing fees | 4.6 | 58.8 |
Short-term borrowings | 51.6 | 0.0 |
Variable Interest Entity, Primary Beneficiary | Nonrecourse | NEOM Green Hydrogen Company | ||
Variable Interest Entity [Line Items] | ||
Long-term debt, principal amount | 3,271.8 | 1,364.8 |
Deferred financing charges and discounts | 218.5 | 90.4 |
Long-term debt | 3,053.3 | 1,274.4 |
Variable Interest Entity, Primary Beneficiary | Nonrecourse | NEOM Green Hydrogen Company | Payable in U.S. Dollars | ||
Variable Interest Entity [Line Items] | ||
Long-term debt, principal amount | $ 2,536.6 | $ 1,233.4 |
Variable Interest Entity, Primary Beneficiary | U.S. Dollar Variable Rate Facility, 6.17% due 2027-2053 | Nonrecourse | NEOM Green Hydrogen Company | ||
Variable Interest Entity [Line Items] | ||
Interest rate, variable percentage | 6.17% | |
Variable Interest Entity, Primary Beneficiary | U.S. Dollar Variable Rate Facility, 6.17% due 2027-2053 | Nonrecourse | NEOM Green Hydrogen Company | Secured Overnight Financing Rate (SOFR) | ||
Variable Interest Entity [Line Items] | ||
Annual margin | 1.31% | 0.96% |
Variable Interest Entity, Primary Beneficiary | U.S. Dollar Variable Rate Facility, 6.17% due 2027-2053 | Nonrecourse | NEOM Green Hydrogen Company | Payable in U.S. Dollars | ||
Variable Interest Entity [Line Items] | ||
Long-term debt, principal amount | $ 1,945.2 | $ 1,094.9 |
Variable Interest Entity, Primary Beneficiary | U.S. Dollar Variable Rate Facility, 5.82% Due 2027-2041 | Nonrecourse | NEOM Green Hydrogen Company | ||
Variable Interest Entity [Line Items] | ||
Interest rate, variable percentage | 5.82% | |
Variable Interest Entity, Primary Beneficiary | U.S. Dollar Variable Rate Facility, 5.82% Due 2027-2041 | Nonrecourse | NEOM Green Hydrogen Company | Payable in U.S. Dollars | ||
Variable Interest Entity [Line Items] | ||
Long-term debt, principal amount | $ 345.5 | 0.0 |
Variable Interest Entity, Primary Beneficiary | U.S. Dollar Loan Facility 5.00% due 2027-2053 | Nonrecourse | NEOM Green Hydrogen Company | ||
Variable Interest Entity [Line Items] | ||
Interest rate, stated percentage | 5.00% | |
Variable Interest Entity, Primary Beneficiary | U.S. Dollar Loan Facility 5.00% due 2027-2053 | Nonrecourse | NEOM Green Hydrogen Company | Payable in U.S. Dollars | ||
Variable Interest Entity [Line Items] | ||
Long-term debt, principal amount | $ 245.9 | 138.5 |
Variable Interest Entity, Primary Beneficiary | Saudi Riyal Loan Facility 6.62% due 2025-2027 | Nonrecourse | NEOM Green Hydrogen Company | Saudi Arabian Interbank Offered Rate (SAIBOR) | ||
Variable Interest Entity [Line Items] | ||
Annual margin | 0.80% | |
Variable Interest Entity, Primary Beneficiary | Saudi Riyal Loan Facility 6.62% due 2025-2027 | Nonrecourse | NEOM Green Hydrogen Company | Other Currency | ||
Variable Interest Entity [Line Items] | ||
Interest rate, variable percentage | 6.69% | |
Long-term debt, principal amount | $ 0.0 | 131.4 |
Variable Interest Entity, Primary Beneficiary | Saudi Riyal Loan Facility variable-rate 2.00% due 2028 to 2041 | Nonrecourse | NEOM Green Hydrogen Company | Other Currency | ||
Variable Interest Entity [Line Items] | ||
Interest rate, variable percentage | 2.00% | |
Long-term debt, principal amount | $ 735.2 | $ 0.0 |
Variable Interest Entity, Primary Beneficiary | Saudi Riyal Loan Facility Variable-Rate 6.21% | NEOM Green Hydrogen Company | ||
Variable Interest Entity [Line Items] | ||
Interest rate, variable percentage | 6.21% | |
Short-term borrowings | $ 51.6 |
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- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. No definition available.
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X | ||||||||||
- Definition Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of unamortized debt discount (premium) and debt issuance costs. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Specific incremental costs directly attributable to a proposed or actual offering of securities which are deferred at the end of the reporting period. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of long-term debt and lease obligation, classified as noncurrent. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The interest rate applicable to the portion of the carrying amount of long-term borrowings outstanding as of the balance sheet date, including current maturities, which accrues interest at a rate subject to change from time to time. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Reflects the total carrying amount as of the balance sheet date of debt having initial terms less than one year or the normal operating cycle, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Share-Based Compensation (Market-Based Deferred Stock Unit Valuation Assumptions) (Details) - Market-Based Deferred Stock Unit |
12 Months Ended | ||
---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected volatility | 25.00% | 32.50% | 30.50% |
Risk-free interest rate | 4.30% | 4.00% | 0.80% |
Expected dividend yield | 2.60% | 2.40% | 2.10% |
X | ||||||||||
- Definition The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The risk-free interest rate assumption that is used in valuing an option on its own shares. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions |
Sep. 30, 2024 |
Sep. 30, 2023 |
||
---|---|---|---|---|
Common stock, par value (in dollars per share) | $ 1 | $ 1 | ||
Common stock, issue shares | 249,455,584 | 249,455,584 | ||
Treasury stock at cost, shares | 27,083,166 | 27,255,739 | ||
Total assets | [1] | $ 39,574.6 | $ 32,002.5 | |
Total liabilities | [1] | 20,900.9 | 16,342.2 | |
Variable Interest Entity, Primary Beneficiary | NEOM Green Hydrogen Company | ||||
Total assets | 4,393.9 | 2,256.8 | ||
Total liabilities | $ 3,473.4 | $ 1,461.1 | ||
|
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- Definition Amount of asset recognized for present right to economic benefit. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Face amount or stated value per share of common stock. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of liability recognized for present obligation requiring transfer or otherwise providing economic benefit to others. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Number of previously issued common shares repurchased by the issuing entity and held in treasury. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Revenue Recognition (Disaggregation of Revenue) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
Disaggregation of Revenue [Line Items] | |||
Sales | $ 12,100.6 | $ 12,600.0 | $ 12,698.6 |
Operating Segments | |||
Disaggregation of Revenue [Line Items] | |||
Sales | $ 12,100.6 | $ 12,600.0 | $ 12,698.6 |
Percent sales by supply mode | 100.00% | 100.00% | 100.00% |
Americas | Operating Segments | |||
Disaggregation of Revenue [Line Items] | |||
Sales | $ 5,040.1 | $ 5,369.3 | $ 5,368.9 |
Asia | Operating Segments | |||
Disaggregation of Revenue [Line Items] | |||
Sales | 3,224.3 | 3,216.1 | 3,143.3 |
Europe | Operating Segments | |||
Disaggregation of Revenue [Line Items] | |||
Sales | 2,823.4 | 2,963.1 | 3,086.1 |
Middle East and India | Operating Segments | |||
Disaggregation of Revenue [Line Items] | |||
Sales | 134.4 | 162.5 | 129.5 |
Corporate and other | Operating Segments | |||
Disaggregation of Revenue [Line Items] | |||
Sales | 878.4 | 889.0 | 970.8 |
On-site | Operating Segments | |||
Disaggregation of Revenue [Line Items] | |||
Sales | $ 5,892.7 | $ 6,179.2 | $ 6,633.1 |
Percent sales by supply mode | 49.00% | 49.00% | 52.00% |
On-site | Americas | Operating Segments | |||
Disaggregation of Revenue [Line Items] | |||
Sales | $ 2,844.4 | $ 3,143.9 | $ 3,423.1 |
On-site | Asia | Operating Segments | |||
Disaggregation of Revenue [Line Items] | |||
Sales | 2,066.4 | 1,923.0 | 1,833.9 |
On-site | Europe | Operating Segments | |||
Disaggregation of Revenue [Line Items] | |||
Sales | 910.5 | 1,036.6 | 1,298.2 |
On-site | Middle East and India | Operating Segments | |||
Disaggregation of Revenue [Line Items] | |||
Sales | 71.4 | 75.7 | 77.9 |
On-site | Corporate and other | Operating Segments | |||
Disaggregation of Revenue [Line Items] | |||
Sales | 0.0 | 0.0 | 0.0 |
Merchant | Operating Segments | |||
Disaggregation of Revenue [Line Items] | |||
Sales | $ 5,329.5 | $ 5,531.8 | $ 5,094.7 |
Percent sales by supply mode | 44.00% | 44.00% | 40.00% |
Merchant | Americas | Operating Segments | |||
Disaggregation of Revenue [Line Items] | |||
Sales | $ 2,195.7 | $ 2,225.4 | $ 1,945.8 |
Merchant | Asia | Operating Segments | |||
Disaggregation of Revenue [Line Items] | |||
Sales | 1,157.9 | 1,293.1 | 1,309.4 |
Merchant | Europe | Operating Segments | |||
Disaggregation of Revenue [Line Items] | |||
Sales | 1,912.9 | 1,926.5 | 1,787.9 |
Merchant | Middle East and India | Operating Segments | |||
Disaggregation of Revenue [Line Items] | |||
Sales | 63.0 | 86.8 | 51.6 |
Merchant | Corporate and other | Operating Segments | |||
Disaggregation of Revenue [Line Items] | |||
Sales | 0.0 | 0.0 | 0.0 |
Sale of Equipment | Operating Segments | |||
Disaggregation of Revenue [Line Items] | |||
Sales | $ 878.4 | $ 889.0 | $ 970.8 |
Percent sales by supply mode | 7.00% | 7.00% | 8.00% |
Sale of Equipment | Americas | Operating Segments | |||
Disaggregation of Revenue [Line Items] | |||
Sales | $ 0.0 | $ 0.0 | $ 0.0 |
Sale of Equipment | Asia | Operating Segments | |||
Disaggregation of Revenue [Line Items] | |||
Sales | 0.0 | 0.0 | 0.0 |
Sale of Equipment | Europe | Operating Segments | |||
Disaggregation of Revenue [Line Items] | |||
Sales | 0.0 | 0.0 | 0.0 |
Sale of Equipment | Middle East and India | Operating Segments | |||
Disaggregation of Revenue [Line Items] | |||
Sales | 0.0 | 0.0 | 0.0 |
Sale of Equipment | Corporate and other | Operating Segments | |||
Disaggregation of Revenue [Line Items] | |||
Sales | $ 878.4 | $ 889.0 | $ 970.8 |
Financing and Lease Arrangement | Revenue Benchmark | Revenue Source Concentration Risk | |||
Disaggregation of Revenue [Line Items] | |||
Concentration Risk, Percentage | 1.00% | 1.00% | 1.00% |
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- Definition The percentage of total consolidated sales for a supply mode. No definition available.
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- Definition For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Share-Based Compensation (Summary of Stock Option Activity) (Details) - $ / shares shares in Thousands |
12 Months Ended | |
---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
|
Shares | ||
Outstanding, beginning (shares) | 294 | |
Exercised (shares) | (240) | |
Outstanding, ending (shares) | 54 | |
Exercisable (shares) | 54 | 294 |
Weighted Average Exercise Price | ||
Outstanding, beginning (in dollars per share) | $ 120.42 | |
Exercised (in dollars per share) | 117.30 | |
Outstanding, ending (in dollars per share) | 134.54 | |
Exercisable (in dollars per share) | $ 134.54 | $ 120.42 |
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- Definition The number of shares into which fully or partially vested stock options outstanding as of the balance sheet date can be currently converted under the option plan. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options outstanding and currently exercisable under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of options outstanding, including both vested and non-vested options. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
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- Definition Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Weighted average price at which option holders acquired shares when converting their stock options into shares. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of share options (or share units) exercised during the current period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Retirement Benefits (Benefit Liability Exceeds Value of Plan Assets) (Details) - USD ($) $ in Millions |
12 Months Ended | |
---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
|
Pension Plans with PBO in Excess of Plan Assets: | ||
Defined Benefit Plan, Funding Status [Extensible Enumeration] | Defined Benefit Plan, Unfunded Plan [Member] | |
Pension Plans with ABO in Excess of Plan Assets: | ||
Defined Benefit Plan, Funding Status [Extensible Enumeration] | Defined Benefit Plan, Unfunded Plan [Member] | |
Defined Benefit Pension Plan | ||
Pension Plans with PBO in Excess of Plan Assets: | ||
PBO | $ 59.9 | |
Pension Plans with ABO in Excess of Plan Assets: | ||
ABO | 55.4 | |
Defined Benefit Pension Plan | U.S. | ||
Pension Plans with PBO in Excess of Plan Assets: | ||
PBO | 2,446.5 | $ 2,194.5 |
Fair value of plan assets | 2,321.1 | 2,108.5 |
PBO in excess of plan assets | 125.4 | 86.0 |
Pension Plans with ABO in Excess of Plan Assets: | ||
ABO | 2,394.5 | 47.1 |
Fair value of plan assets | 2,321.1 | 0.0 |
ABO in excess of plan assets | 73.4 | 47.1 |
Defined Benefit Pension Plan | International | ||
Pension Plans with PBO in Excess of Plan Assets: | ||
PBO | 326.1 | 295.1 |
Fair value of plan assets | 207.2 | 182.9 |
PBO in excess of plan assets | 118.9 | 112.2 |
Pension Plans with ABO in Excess of Plan Assets: | ||
ABO | 139.8 | 144.3 |
Fair value of plan assets | 42.0 | 56.3 |
ABO in excess of plan assets | $ 97.8 | $ 88.0 |
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- Definition Amount of projected benefit obligation in excess of plan assets for defined benefit pension plan with projected benefit obligation in excess of plan assets. No definition available.
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- Definition Amount of accumulated benefit obligation in excess of plan assets for defined benefit plan with accumulated benefit obligation in excess of plan assets. No definition available.
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- Definition Indicates status of funding for defined benefit plan designed to provide retirement benefits. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of plan asset for defined benefit pension plan with projected benefit obligation in excess of plan assets. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of projected benefit obligation for defined benefit pension plan with projected benefit obligation in excess of plan assets. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition Amount of accumulated benefit obligation for defined benefit plan with accumulated benefit obligation in excess of plan assets. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of plan asset for defined benefit plan with accumulated benefit obligation in excess of plan assets. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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Intangible Assets (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Finite-Lived Intangible Assets | The table below summarizes the major classes of our intangible assets:
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Schedule of Indefinite-Lived Intangible Assets | The table below summarizes the major classes of our intangible assets:
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Schedule of Projected Annual Amortization Expense | The table below details the amount of amortization expense expected to be recorded for our finite-lived intangible assets in each of the next five years and thereafter:
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- References No definition available.
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- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance and exist in perpetuity, by either major class or business segment. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Share-Based Compensation (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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:
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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:
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Schedule of Deferred Stock Units and Restricted Stock Activity | A summary of deferred stock unit activity in fiscal year 2024 is presented below:
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Schedule of Stock Option Activity | A summary of stock option activity in fiscal year 2024 is presented below:
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of Market Based Deferred Stock Units, including, but not limited to: expected volatility, risk-free interest rate(s), and expected dividends. No definition available.
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- References No definition available.
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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. No definition available.
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Inventories (Tables) |
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Inventory Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Components of Inventories | INVENTORIES The components of inventories are as follows:
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- References No definition available.
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- Definition Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Commitments and Contingencies (Asset Retirement Obligations) (Details) - USD ($) $ in Millions |
12 Months Ended | |
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Sep. 30, 2024 |
Sep. 30, 2023 |
|
Asset Retirement Obligation [Roll Forward] | ||
Asset retirement obligations, beginning of period | $ 297.3 | $ 274.7 |
Additional accruals | 33.3 | 20.4 |
Liabilities settled | (13.7) | (8.8) |
Accretion expense | 12.0 | 11.4 |
Currency translation adjustment | 5.8 | (0.4) |
Asset retirement obligations, end of period | $ 334.7 | $ 297.3 |
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- Definition The carrying amount of a liability for an asset retirement obligation. An asset retirement obligation is a legal obligation associated with the disposal or retirement of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of accretion expense recognized during the period that is associated with an asset retirement obligation. Accretion expense measures and incorporates changes due to the passage of time into the carrying amount of the liability. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of foreign currency translation gain (loss) which decreases (increases) asset retirement obligations. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of asset retirement obligations incurred during the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of asset retirement obligations settled, or otherwise disposed of, during the period. This may include asset retirement obligations transferred to third parties associated with the sale of a long-lived asset. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
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Business Segment and Geographic Information |
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Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Segment and Geographic Information | BUSINESS SEGMENT AND GEOGRAPHIC INFORMATION During the fiscal year ended 30 September 2024, we managed our operations, assessed performance, and reported earnings under the following reportable segments: •Americas; •Asia; •Europe; •Middle East and India; and •Corporate and other. Our reportable segments reflect the manner in which our chief operating decision maker reviews results and allocates resources. We evaluate the performance of our segments based upon segment operating income. 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 two operating segments that meet the aggregation criteria under GAAP. Industrial Gases – Regional Our industrial gases business is organized and operated regionally in the Americas, Asia, Europe, and Middle East and India segments. This business produces and sells gases to diversified customers in dozens of industries, including those in refining, chemicals, metals, electronics, manufacturing, medical, and food. Our industrial gas portfolio includes atmospheric gases such as oxygen, nitrogen, and argon; process gases such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas (a mixture of hydrogen and carbon monoxide), and specialty gases. We offer our industrial gas products through either the on-site gases supply mode or the merchant gases supply mode, both of which are described in Note 7, Revenue Recognition. The industrial gases business develops, builds, and operates equipment for the production or processing of gases. Electricity is the largest cost component in the production of atmospheric gases. To produce hydrogen, carbon monoxide, and syngas, steam methane reformers use natural gas as the primary raw material, while gasifiers use liquid and solid hydrocarbons as the primary raw material. We mitigate electricity, natural gas, and hydrocarbon price fluctuations contractually through pricing formulas, surcharges, cost pass-through provisions, and tolling arrangements. Each of the regional industrial gases segments competes against global industrial gas companies as well as regional competitors. Competition in industrial gases is based primarily on price, reliability of supply, and the development of industrial gas applications. We derive a competitive advantage in locations where we have pipeline networks, which enable us to provide reliable and economic supply of products to our larger customers. Corporate and other The Corporate and other segment includes sales of cryogenic and gas processing equipment for air separation that is sold worldwide to customers in a variety of industries, including chemical and petrochemical manufacturing, oil and gas recovery and processing, and steel and primary metals processing. Our Corporate and other segment also includes the results of our turbo machinery and distribution sale of equipment businesses. Through 30 September 2024, this segment also included the results of the LNG process technology and equipment business that was divested during the fourth quarter of fiscal year 2024. Refer to Note 4, Gain on Sale of Business, for additional information. Competition for our sale of equipment businesses is based primarily on plant efficiency and technological performance, service, technical know-how, and price, as well as schedule and plant performance guarantees. Our Corporate and other segment also incurs costs to provide corporate support functions and global management activities that benefit all segments. These costs include those for product development, research and development, and administrative support. The results of our Corporate and other segment also include income and expense not directly associated with the regional segments, such as foreign exchange gains and losses. In addition to assets of the global businesses included in this segment, other assets include cash and cash items, short-term investments, deferred tax assets, and financial instruments. Equity Affiliates Our reporting segments include our share of the results of several joint ventures accounted for under the equity method. The largest of these joint ventures operate in Algeria, China, India, Italy, Mexico, Saudi Arabia, South Africa, and Thailand. Customers We do not have a homogeneous customer base or end market, and no single customer accounts for more than 10% of our consolidated sales. Business Segment Information
(A)Sales relate to external customers only. All intersegment sales are eliminated in consolidation. (B)Refer to the Reconciliations to Consolidated Results section below. Reconciliations to Consolidated Results Operating Income The table below reconciles total operating income disclosed in the table above to consolidated operating income as reflected on our consolidated income statements:
Equity Affiliates' Income The table below reconciles total equity affiliates' income disclosed in the table above to consolidated equity affiliates' income as reflected on our consolidated income statements:
Geographic Information The geographic information presented below is based on country of origin. Sales to External Customers
(A)"Long-lived assets" represents plant and equipment, net.
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- References No definition available.
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- 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. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Earnings Per Share |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Share | EARNINGS PER SHARE The table below details the computation of basic and diluted earnings per share ("EPS"):
(A)EPS is calculated independently for each component and may not sum to total EPS due to rounding. Diluted EPS attributable to Air Products reflects the potential dilution that could occur if stock options or other share-based awards were exercised or converted into common stock. The dilutive effect is computed using the treasury stock method, which assumes all share-based awards are exercised, and the hypothetical proceeds from exercise are used by the Company to purchase common stock at the average market price during the period. To the extent they would have been dilutive, the incremental shares, or the difference between shares assumed to be issued versus purchased, are included in the denominator of the diluted EPS calculation. Antidilutive outstanding share-based awards were not material in fiscal years 2024, 2023 and 2022.
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- References No definition available.
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- Definition The entire disclosure for earnings per share. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Income Taxes (Summary of Operating and Capital Loss Carryforwards) (Details) $ in Millions |
Sep. 30, 2024
USD ($)
|
---|---|
U.S. State | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | $ 206.7 |
Foreign | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 347.3 |
Capital loss carryforwards | $ 214.0 |
X | ||||||||||
- Definition Amount of capital loss carryforward, before tax effects, available to reduce future taxable income under enacted tax laws. No definition available.
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X | ||||||||||
- Definition Amount of operating loss carryforward, before tax effects, available to reduce future taxable income under enacted tax laws. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Details
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- Details
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Audit Information |
12 Months Ended |
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Sep. 30, 2024 | |
Audit Information [Abstract] | |
Auditor Name | Deloitte & Touche LLP |
Auditor Firm ID | 34 |
Auditor Location | Philadelphia, Pennsylvania |
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- Definition Audit Information No definition available.
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- Definition PCAOB issued Audit Firm Identifier Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Business and Asset Actions (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring and Related Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Carrying Amount of Accrual for Severance and Other Benefits | The table below reconciles these charges to the carrying amount of the remaining accrual for unpaid benefits as of 30 September 2024. This balance primarily relates to the additional actions identified during the second quarter of fiscal year 2024. We expect to pay the majority of the remaining benefits over the next six months.
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X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Intangible Assets (Projected Annual Amortization Expense for Intangible Assets) (Details) - USD ($) $ in Millions |
Sep. 30, 2024 |
Sep. 30, 2023 |
---|---|---|
Goodwill and Intangible Assets Disclosure [Abstract] | ||
2025 | $ 29.4 | |
2026 | 28.3 | |
2027 | 27.9 | |
2028 | 25.6 | |
2029 | 22.7 | |
Thereafter | 141.4 | |
Total future amortization expense | $ 275.3 | $ 297.5 |
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- Definition Amount of amortization for asset, excluding financial asset and goodwill, lacking physical substance with finite life expected to be recognized after fifth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition Amount of amortization for assets, excluding financial assets and goodwill, lacking physical substance with finite life expected to be recognized in next fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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X | ||||||||||
- Definition Amount of amortization for assets, excluding financial assets and goodwill, lacking physical substance with finite life expected to be recognized in fifth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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X | ||||||||||
- Definition Amount of amortization for assets, excluding financial assets and goodwill, lacking physical substance with finite life expected to be recognized in fourth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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X | ||||||||||
- Definition Amount of amortization for assets, excluding financial assets and goodwill, lacking physical substance with finite life expected to be recognized in third fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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X | ||||||||||
- Definition Amount of amortization for assets, excluding financial assets and goodwill, lacking physical substance with finite life expected to be recognized in second fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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X | ||||||||||
- Definition Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- References No definition available.
|
Debt (Summary of Outstanding Debt) (Details) - USD ($) $ in Millions |
Sep. 30, 2024 |
Sep. 30, 2023 |
---|---|---|
Debt Instrument [Line Items] | ||
Short-term borrowings | $ 83.5 | $ 259.5 |
Current portion of long-term debt | 611.4 | 615.0 |
Total Debt | $ 14,227.9 | $ 10,305.8 |
Short-term debt, weighted average interest rate | 4.00% | 5.20% |
Nonrelated Party | ||
Debt Instrument [Line Items] | ||
Less: Long-term debt – related party | $ 13,428.6 | $ 9,280.6 |
Related Party | ||
Debt Instrument [Line Items] | ||
Less: Long-term debt – related party | $ 104.4 | $ 150.7 |
X | ||||||||||
- Definition Amount of short-term and long-term debt and lease obligation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Definition Amount of long-term debt and lease obligation, classified as noncurrent. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount of long-term debt and lease obligation, classified as current. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Reflects the total carrying amount as of the balance sheet date of debt having initial terms less than one year or the normal operating cycle, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Weighted average interest rate of short-term debt outstanding calculated at point in time. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Supplemental Information (Narrative) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
Related Party Transaction [Line Items] | |||
Trade receivables, net | $ 1,821.6 | $ 1,700.4 | |
Related Party | |||
Related Party Transaction [Line Items] | |||
Sales and other income | 350.0 | 380.0 | $ 300.0 |
Trade receivables, net | $ 120.0 | $ 80.0 |
X | ||||||||||
- Definition Amount, after allowance for credit loss, of right to consideration from customer for product sold and service rendered in normal course of business, classified as current. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Amount of transactions with related party during the financial reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Details
|
Insider Trading Arrangements |
3 Months Ended |
---|---|
Sep. 30, 2024 | |
Trading Arrangements, by Individual | |
Rule 10b5-1 Arrangement Adopted | false |
Non-Rule 10b5-1 Arrangement Adopted | false |
Rule 10b5-1 Arrangement Terminated | false |
Non-Rule 10b5-1 Arrangement Terminated | false |
X | ||||||||||
- References Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Inventories (Schedule of Inventory) (Details) - USD ($) $ in Millions |
Sep. 30, 2024 |
Sep. 30, 2023 |
---|---|---|
Inventory Disclosure [Abstract] | ||
Finished goods | $ 210.2 | $ 211.6 |
Work in process | 42.2 | 28.4 |
Raw materials, supplies, and other | 513.6 | 411.8 |
Inventories | $ 766.0 | $ 651.8 |
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount before valuation and LIFO reserves of completed merchandise or goods expected to be sold within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Definition Gross amount of unprocessed materials to be used in manufacturing or production process and supplies that will be consumed. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Amount before valuation and LIFO reserves of merchandise or goods in the production process expected to be completed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
Variable Interest Entities - NGHC Joint Venture by Balance Sheet Items (Details) - USD ($) $ in Millions |
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
||
---|---|---|---|---|---|
Assets | |||||
Cash and cash items | $ 2,979.7 | $ 1,617.0 | |||
Trade receivables, net | 1,821.6 | 1,700.4 | |||
Prepaid expenses | 179.9 | 177.0 | |||
Other receivables and current assets | 610.8 | 722.1 | |||
Total current assets | 6,363.0 | 5,200.5 | |||
Plant and equipment, net | 23,370.9 | 17,472.1 | $ 14,160.5 | ||
Operating lease right-of-use assets, net | 1,047.7 | 974.0 | |||
Other noncurrent assets | 1,171.5 | 1,229.9 | |||
Total noncurrent assets | 33,211.6 | 26,802.0 | |||
Total assets | [1] | 39,574.6 | 32,002.5 | ||
Liabilities | |||||
Payables and accrued liabilities | 2,926.2 | 2,890.1 | |||
Accrued income taxes | 558.5 | 131.2 | |||
Short-term borrowings | 83.5 | 259.5 | |||
Total current liabilities | 4,179.6 | 3,895.8 | |||
Noncurrent operating lease liabilities | 677.9 | 631.1 | |||
Other noncurrent liabilities | 1,350.5 | 1,118.0 | |||
Deferred income taxes | 1,159.9 | 1,266.0 | |||
Total noncurrent liabilities | 16,721.3 | 12,446.4 | |||
Total liabilities | [1] | 20,900.9 | 16,342.2 | ||
Equity | |||||
Accumulated other comprehensive income | (2,027.7) | (2,449.4) | |||
Noncontrolling interests | [1] | 1,637.2 | 1,347.4 | ||
Nonrelated Party | |||||
Liabilities | |||||
Long-term debt | 13,428.6 | 9,280.6 | |||
Variable Interest Entity, Primary Beneficiary | NEOM Green Hydrogen Company | |||||
Assets | |||||
Cash and cash items | 34.5 | 78.2 | |||
Trade receivables, net | 6.7 | 0.0 | |||
Prepaid expenses | 31.2 | 21.4 | |||
Other receivables and current assets | 120.6 | 181.6 | |||
Total current assets | 193.0 | 281.2 | |||
Plant and equipment, net | 3,929.9 | 1,396.1 | |||
Operating lease right-of-use assets, net | 233.9 | 228.9 | |||
Other noncurrent assets | 37.1 | 350.6 | |||
Total noncurrent assets | 4,200.9 | 1,975.6 | |||
Total assets | 4,393.9 | 2,256.8 | |||
Liabilities | |||||
Payables and accrued liabilities | 308.4 | 141.0 | |||
Accrued income taxes | 2.0 | 0.6 | |||
Short-term borrowings | 51.6 | 0.0 | |||
Total current liabilities | 362.0 | 141.6 | |||
Noncurrent operating lease liabilities | 24.5 | 18.9 | |||
Other noncurrent liabilities | 30.4 | 2.1 | |||
Deferred income taxes | 3.2 | 24.1 | |||
Total noncurrent liabilities | 3,111.4 | 1,319.5 | |||
Total liabilities | 3,473.4 | 1,461.1 | |||
Equity | |||||
Accumulated other comprehensive income | 13.8 | 77.7 | |||
Noncontrolling interests | 937.6 | 723.6 | |||
Variable Interest Entity, Primary Beneficiary | NEOM Green Hydrogen Company | Nonrelated Party | |||||
Liabilities | |||||
Long-term debt | $ 3,053.3 | $ 1,274.4 | |||
|
X | ||||||||||
- Definition Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount, after allowance for credit loss, of right to consideration from customer for product sold and service rendered in normal course of business, classified as current. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all currently due domestic and foreign income tax obligations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount, after tax, of accumulated increase (decrease) in equity from transaction and other event and circumstance from nonowner source. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount of asset recognized for present right to economic benefit. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of asset recognized for present right to economic benefit, classified as current. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences with jurisdictional netting. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of liability recognized for present obligation requiring transfer or otherwise providing economic benefit to others. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount of obligation due after one year or beyond the normal operating cycle, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount of long-term debt and lease obligation, classified as noncurrent. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount of equity (deficit) attributable to noncontrolling interest. Excludes temporary equity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Present value of lessee's discounted obligation for lease payments from operating lease, classified as noncurrent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of lessee's right to use underlying asset under operating lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of current assets classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Definition Amount of noncurrent assets classified as other. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of liabilities classified as other, due after one year or the normal operating cycle, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount of asset related to consideration paid in advance for costs that provide economic benefits within a future period of one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Definition Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Reflects the total carrying amount as of the balance sheet date of debt having initial terms less than one year or the normal operating cycle, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Income Taxes (Reconciliation of Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
Unrecognized Tax Benefits | |||
Balance at beginning of year | $ 96.5 | $ 103.5 | $ 140.3 |
Additions for tax positions of the current year | 14.6 | 10.9 | 7.4 |
Additions for tax positions of prior years | 1.4 | 1.2 | 6.6 |
Reductions for tax positions of prior years | (0.3) | (6.0) | (15.4) |
Settlements | (3.7) | (3.9) | (0.6) |
Statute of limitations expiration | (9.9) | (10.6) | (25.5) |
Foreign Currency Translation Increases | 2.4 | 1.4 | |
Foreign Currency Translation Decreases | (9.3) | ||
Balance at end of year | $ 101.0 | $ 96.5 | $ 103.5 |
X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
X | ||||||||||
- Definition Amount of unrecognized tax benefits. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Definition Amount of decrease in unrecognized tax benefits resulting from foreign currency translation. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Amount of decrease in unrecognized tax benefits resulting from tax positions taken in prior period tax returns. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Definition Amount of decrease in unrecognized tax benefits resulting from settlements with taxing authorities. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Definition Amount of increase in unrecognized tax benefits resulting from tax positions that have been or will be taken in current period tax return. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Definition Amount of increase in unrecognized tax benefits resulting from foreign currency translation. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Amount of increase in unrecognized tax benefits resulting from tax positions taken in prior period tax returns. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Definition Amount of decrease in unrecognized tax benefits resulting from lapses of applicable statutes of limitations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
Share-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions |
12 Months Ended | ||
---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Shares available for future grant (in shares) | 900,000 | ||
Closing stock price (in dollars per share) | $ 297.74 | ||
Cash received from option exercises | $ 7.9 | $ 24.0 | $ 19.3 |
Total tax benefit realized from stock option exercises | 8.3 | ||
Excess tax benefit from stock option exercises | $ 6.9 | ||
Deferred Stock Units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of units/shares granted | 249,000 | ||
Weighted-average grant date fair value (in dollars per share) | $ 283.67 | ||
Cash payments made for deferred stock units | $ 2.7 | 3.6 | 5.5 |
Unrecognized compensation costs | $ 71.4 | ||
Unrecognized compensation costs, period for recognition, years | 1 year 7 months 6 days | ||
Fair value of deferred stock units paid | $ 24.1 | $ 45.3 | $ 92.9 |
Deferred Stock Units | Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting or deferral period | 2 years | ||
Deferred Stock Units | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting or deferral period | 5 years | ||
Director Deferred Stock Units | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Period after service in which to elect payment | 10 years | ||
Market-Based Deferred Stock Unit | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting or deferral period | 3 years | ||
Number of units/shares granted | 102,120 | 85,612 | 74,364 |
Weighted-average grant date fair value (in dollars per share) | $ 302.10 | $ 502.03 | $ 427.23 |
Time-Based Deferred Stock Unit | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of units/shares granted | 146,947 | 119,954 | 120,996 |
Weighted-average grant date fair value (in dollars per share) | $ 270.86 | $ 308.91 | $ 278.67 |
Stock Options | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Weighted average remaining contractual terms, outstanding | 2 months 12 days | ||
Weighted average remaining contractual terms, exercisable | 2 months 12 days | ||
Aggregated intrinsic value, outstanding | $ 8.7 | ||
Aggregated intrinsic value, exercisable | 8.7 | ||
Intrinsic value of stock options exercised | 35.1 | $ 53.5 | $ 20.2 |
Cash received from option exercises | $ 7.9 |
X | ||||||||||
- Definition Period after service during which award may be paid No definition available.
|
X | ||||||||||
- Definition Fair value of deferred stock units paid No definition available.
|
X | ||||||||||
- Definition Amount of excess tax benefit from exercise of option under share-based payment arrangement. No definition available.
|
X | ||||||||||
- Definition Aggregate cash paid by the entity during the period to settle equity instruments granted under equity-based payment arrangements. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of cost not yet recognized for nonvested award under share-based payment arrangement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Weighted-average period over which cost not yet recognized is expected to be recognized for award under share-based payment arrangement, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of tax benefit from exercise of option under share-based payment arrangement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of cash inflow from exercise of option under share-based payment arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Period over which grantee's right to exercise award under share-based payment arrangement is no longer contingent on satisfaction of service or performance condition, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Includes, but is not limited to, combination of market, performance or service condition. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Definition The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The difference between the maximum number of shares (or other type of equity) authorized for issuance under the plan (including the effects of amendments and adjustments), and the sum of: 1) the number of shares (or other type of equity) already issued upon exercise of options or other equity-based awards under the plan; and 2) shares (or other type of equity) reserved for issuance on granting of outstanding awards, net of cancellations and forfeitures, if applicable. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount of accumulated difference between fair value of underlying shares on dates of exercise and exercise price on options exercised (or share units converted) into shares. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount by which the current fair value of the underlying stock exceeds the exercise price of options outstanding. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Price of a single share of a number of saleable stocks of a company. No definition available.
|
X | ||||||||||
- Definition Amount of difference between fair value of the underlying shares reserved for issuance and exercise price of vested portions of options outstanding and currently exercisable. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Weighted average remaining contractual term for vested portions of options outstanding and currently exercisable or convertible, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Weighted average remaining contractual term for option awards outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Details
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X | ||||||||||
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X | ||||||||||
- Details
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|
Share-Based Compensation (Summary of Deferred Stock Units Activity) (Details) - $ / shares |
12 Months Ended | ||
---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
Deferred Stock Units | |||
Shares | |||
Outstanding, beginning (shares) | 700,000 | ||
Granted (shares) | 249,000 | ||
Paid out (shares) | (100,000) | ||
Forfeited (shares) | (91,000) | ||
Adjusted (in shares) | 0 | ||
Outstanding, ending (shares) | 758,000 | 700,000 | |
Weighted Average Grant Date Fair Value | |||
Outstanding, beginning (in dollars per share) | $ 282.60 | ||
Granted (in dollars per share) | 283.67 | ||
Paid out (in dollars per share) | 226.55 | ||
Forfeited (in dollars per share) | 252.23 | ||
Adjusted (in dollars per share) | 0 | ||
Outstanding, ending (in dollars per share) | $ 293.99 | $ 282.60 | |
Market-Based Deferred Stock Unit | |||
Shares | |||
Granted (shares) | 102,120 | 85,612 | 74,364 |
Weighted Average Grant Date Fair Value | |||
Granted (in dollars per share) | $ 302.10 | $ 502.03 | $ 427.23 |
X | ||||||||||
- Definition The number of share adjustments made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). No definition available.
|
X | ||||||||||
- Definition Weighted average fair value as of adjustments to equity-based award plans other than stock (unit) option plans that were not exercised or put into effect as a result of the occurrence of a terminating event. No definition available.
|
X | ||||||||||
- Definition The weighted average fair value at pay out date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). No definition available.
|
X | ||||||||||
- Definition The number of pay outs made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). No definition available.
|
X | ||||||||||
- Definition The number of equity-based payment instruments, excluding stock (or unit) options, that were forfeited during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Weighted average fair value as of the grant date of equity-based award plans other than stock (unit) option plans that were not exercised or put into effect as a result of the occurrence of a terminating event. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Per share or unit weighted-average fair value of nonvested award under share-based payment arrangement. Excludes share and unit options. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
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Intangible Assets (Narrative) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Amortization expense for intangible assets | $ 31.5 | $ 32.5 | $ 35.5 |
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- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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Equity Affiliates (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity Method Investments and Joint Ventures [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Equity Method Investments | As of 30 September 2024, our equity affiliates and related ownership percentages were as follows:
Dividends and other distributions received from equity affiliates were $441.7, $344.3, and $285.1 in fiscal years 2024, 2023, and 2022, respectively. As of 30 September 2024 and 2023, the amount of investment in companies accounted for by the equity method included equity method goodwill of $38.7 and $41.3, respectively. Summarized Financial Information The summarized financial information presented below is on a combined 100% basis and has been compiled based on the financial statements of our equity affiliates.
(A)Includes financing revenue of $1,128.6, $1,011.3, and $674.6 in fiscal years 2024, 2023, and 2022, respectively. Financing revenue primarily relates to the JIGPC joint venture discussed below.
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- References No definition available.
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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Debt (Narrative) (Details) - USD ($) |
1 Months Ended | 12 Months Ended | |||
---|---|---|---|---|---|
Mar. 31, 2024 |
Sep. 30, 2024 |
Mar. 28, 2024 |
Feb. 06, 2024 |
Sep. 30, 2023 |
|
Debt Instrument [Line Items] | |||||
Total debt | $ 14,227,900,000 | $ 10,305,800,000 | |||
Current portion of long-term debt | 611,400,000 | 615,000,000.0 | |||
Deferred financing charges and discounts | 304,500,000 | 165,700,000 | |||
Long-term debt, principal amount | 14,485,500,000 | 10,292,500,000 | |||
Senior Notes | Green Bonds | |||||
Debt Instrument [Line Items] | |||||
Aggregate principal amount | $ 2,500,000,000 | ||||
Deferred financing charges and discounts | $ 20,000,000 | ||||
Long-term debt, principal amount | 2,500,000,000 | ||||
Bonds | Saudi Riyal Loan Facility variable-rate 7.35% due 2027 | |||||
Debt Instrument [Line Items] | |||||
Long-term debt, principal amount | 451,100,000 | 451,100,000 | |||
Revolving credit agreement | 364-Day Credit Agreement | Line of Credit | |||||
Debt Instrument [Line Items] | |||||
Term of credit facility (in years) | 364 days | ||||
Maximum borrowing capacity | 500,000,000.0 | ||||
Credit facility, amount borrowed and outstanding | 0 | ||||
Revolving credit agreement | Line of Credit | 2024 Credit Agreement | |||||
Debt Instrument [Line Items] | |||||
Term of credit facility (in years) | 5 years | ||||
Maximum borrowing capacity | 3,000,000,000 | ||||
Credit facility, amount borrowed and outstanding | 0 | ||||
Revolving credit agreement | Line of Credit | 2021 Credit Agreement | |||||
Debt Instrument [Line Items] | |||||
Maximum borrowing capacity | $ 2,750,000,000 | ||||
Credit facility, amount borrowed and outstanding | $ 0 | ||||
CreditFacilityEarlyTerminationFee | 0 | ||||
Foreign credit facilities | Credit Facilities, Foreign Subsidiaries | |||||
Debt Instrument [Line Items] | |||||
Maximum borrowing capacity | 1,223,900,000 | ||||
Credit facility, amount borrowed and outstanding | 1,129,000,000 | 1,041,400,000 | |||
Related Party | |||||
Debt Instrument [Line Items] | |||||
Total debt | 304,400,000 | 328,300,000 | |||
Current portion of long-term debt | $ 200,000,000.0 | $ 177,600,000 |
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- Definition Amount of fee for early termination of credit facility. No definition available.
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- Definition Amount of short-term and long-term debt and lease obligation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Face (par) amount of debt instrument at time of issuance. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
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- Definition Amount of unamortized debt discount (premium) and debt issuance costs. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of long-term debt and lease obligation, classified as current. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Leases (Payments Collected) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
Leases [Abstract] | |||
Payments that reduced the lease receivable balance | $ 122.1 | $ 79.6 | $ 94.0 |
Payments recognized as interest income | 42.6 | 49.6 | 59.1 |
Total lease payments collected | $ 164.7 | $ 129.2 | $ 153.1 |
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- Definition The portion of lease payments received reducing the lease receivable balance. No definition available.
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- References No definition available.
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- Definition Amount of cash inflow from lease payment, classified as operating activity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of interest income from lease receivable of sales-type lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Variable Interest Entities |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Consolidated Variable Interest Entities Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Variable Interest Entities | VARIABLE INTEREST ENTITIES We are the primary beneficiary of the NEOM Green Hydrogen Company joint venture ("NGHC"), which is a variable interest entity ("VIE") that is consolidated in our Middle East and India segment. We are not the primary beneficiary of any other material VIEs. We account for a VIE for which we have an equity interest and exercise significant influence but are not the primary beneficiary, such as the Jazan Integrated Gasification and Power Company joint venture ("JIGPC"), as an equity method investment. During the first quarter of fiscal year 2024, we determined that World Energy, LLC ("World Energy") is a VIE for which we have no equity interest and are not the primary beneficiary. Our variable interests in NGHC, JIGPC, and World Energy are further discussed below. NGHC Joint Venture The NEOM Green Hydrogen Project is a multi-billion dollar green hydrogen-based ammonia production facility that is being constructed in NEOM City, Saudi Arabia. Owned and operated by NGHC, the facility will be powered by renewable energy to produce green ammonia for Air Products as the exclusive offtaker under a long-term take-if-tendered agreement. We intend to transport the green ammonia around the world to be dissociated to produce green hydrogen for transportation and industrial markets. Air Products is an equal owner in NGHC with our joint venture partners, ACWA Power and NEOM Company. While we only hold one-third of the voting interests in the joint venture, 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 VIE. 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 consolidate NGHC within the Middle East and India segment. Project Financing In May 2023, NGHC finalized the $6.7 billion engineering, procurement, and construction ("EPC") agreement with Air Products named as the main contractor and system integrator for the facility. NGHC secured non-recourse project financing of approximately $6.1 billion, which is expected to fund about 73% of the project and will be drawn over the construction period. At the same time, NGHC secured additional non-recourse credit facilities totaling approximately $500 primarily for working capital needs. Under the financing, the assets of NGHC can only be used to settle obligations of the joint venture, and creditors of NGHC do not have recourse to the general credit of Air Products. A table summarizing balances associated with NGHC as reflected on our consolidated balance sheets is provided on page 78. NGHC completed its first drawdown on the project financing in July 2023. As of 30 September 2024 and 2023, total principal borrowings were $3,323.4 and $1,364.8, respectively. The balance as of 30 September 2024 includes short-term borrowings of $51.6 from a 6.21% variable rate Saudi Riyal facility. The remaining borrowings include the long-term facilities below, which are reflected net of unamortized discounts and debt issuance costs within "Long-term debt" on our consolidated balance sheets.
(A)Reflects a daily compounded SOFR as of 30 September 2024 plus an annual margin of 1.31% and 0.96%, respectively. These rates do not include the impact of our floating-to-fixed interest rate swaps, which result in an overall lower interest rate for the borrowings. Additional information is provided below. (B)Based on the Saudi Arabian Interbank Offered Rate ("SAIBOR") plus an annual margin of 0.80%. (C)Our consolidated balance sheets as of 30 September 2024 and 2023 also included $4.6 and $58.8, respectively, for remaining project financing fees that were eligible for deferral as a noncurrent asset. Once additional borrowings are drawn, the unamortized balance is reclassified as an offset to the outstanding debt. In May 2023, NGHC entered into floating-to-fixed interest rate swaps designed to hedge the long-term variable rate debt facilities available under the project financing during the construction period of the project. We discontinued cash flow hedge accounting for certain swaps during the third quarter of fiscal year 2024. As a result of the de-designation, unrealized gains and losses are recorded to "Other non-operating income (expense), net" on our consolidated income statements. For the fiscal year ended 30 September 2024, unrealized losses were $16.3 ($4.3 attributable to Air Products after tax). Unrealized losses attributable to our noncontrolling partners were $10.6. Refer to Note 15, Financial Instruments, for additional information. Land Lease The green hydrogen-based ammonia production facility is being constructed on land owned by our joint venture partner, NEOM Company, for which NGHC signed a 50-year lease agreement. The land lease commenced during the third quarter of fiscal year 2023. Accordingly, we recorded an operating lease with a right-of-use asset and corresponding liability of $223, of which $209 was paid as a lump-sum in August 2023. Additional payments under the lease will occur after the first 30 years of the lease term. NGHC Balance Sheet The table below summarizes balances associated with NGHC as reflected on our consolidated balance sheets:
JIGPC Joint Venture JIGPC is a joint venture with Saudi Aramco Power Company (a subsidiary of Aramco), ACWA Power, and Air Products Qudra (“APQ”). JIGPC entered into project financing to purchase power blocks, gasifiers, air separation units, syngas cleanup assets, and utilities 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 recognizes financing income over the supply term. We determined JIGPC is a VIE for which we exercise significant influence but are not the primary beneficiary as we do not have the power to direct the activities that are most significant to its economic performance. 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. Accordingly, we account for our 55% investment, which includes 4% that is attributable to the noncontrolling partner of APQ, under the equity method within the Middle East and India segment. The carrying value of our investment, including amounts attributable to noncontrolling interests, totaled $2,871.2 and $2,862.2 as of 30 September 2024 and 30 September 2023, respectively. Our loss exposure is limited to our investment in the joint venture. Our investment primarily consists of shareholder loans that qualify as in-substance common stock in the joint venture. 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. World Energy In November 2023, we finalized an agreement to purchase a sustainable aviation fuel (“SAF”) facility in Paramount, California from World Energy. We determined the acquisition contains an embedded sales-type lease. As a result, we are accounting for the transaction as a financing arrangement and recorded a financing receivable, which had a carrying value of approximately $300 as of 30 September 2024. At the time of acquisition, we entered into a Master Project Agreement (“MPA”) containing terms for operation of the acquired facility as well as amended terms for the construction and operation of an SAF expansion project subject to construction at the same location. The MPA includes a tolling arrangement whereby we will receive feedstock from and produce renewable fuels for World Energy over a term that will conclude 15 years after onstream of the expansion project with the option to renew for two five-year terms. The SAF expansion project is currently on hold pending receipt of permits. During the first quarter of fiscal year 2024, we determined that World Energy is a VIE and our financing receivable represents a variable interest in World Energy. We are not the primary beneficiary as we do not have control over their key operating decisions, including feedstock supply, production of renewable fuels, and negotiating and executing supply agreements with customers. As of 30 September 2024, our maximum exposure to loss is approximately $2 billion. This includes project-related spending of approximately $1.5 billion, of which $1.2 billion is capitalized within “Plant and equipment, net” and $330 is deferred within "Other noncurrent assets", and approximately $215 for open purchase commitments, all of which relate to the SAF expansion project. Our exposure also includes the financing receivable of $300 discussed above, which we begin to collect at the onstream of the expansion project, as well as related accrued interest, which accrues monthly. Accrued interest was not material as of 30 September 2024.
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- Definition Consolidated Variable Interest Entities Disclosure No definition available.
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- Definition The entire disclosure for a variable interest entity (VIE), including but not limited to, judgments and assumptions in determining whether to consolidate and in identifying the primary beneficiary, gain (loss) recognized on the initial consolidation of the VIE, terms of arrangements, amounts and classification of the VIE's assets and liabilities, and the entity's maximum exposure to loss. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Financial Instruments (Interest Rate Management Contracts and Cross Currency Interest Rate Swaps) (Details) - USD ($) $ in Millions |
12 Months Ended | |
---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
|
Interest rate swaps contracts | Designated as Hedging Instrument | Fair value hedges | ||
Derivative [Line Items] | ||
Notional Principal amount | $ 800.0 | $ 800.0 |
Average Pay % | SOFR | SOFR |
Average Receive % | 1.64% | 1.64% |
Years Average Maturity | 3 years | 4 years |
Interest rate swaps contracts | Designated as Hedging Instrument | Cash flow hedges | ||
Derivative [Line Items] | ||
Notional Principal amount | $ 2,159.3 | $ 1,182.5 |
Average Pay % | 2.72% | 2.82% |
Years Average Maturity | 21 years 2 months 12 days | 22 years 1 month 6 days |
Derivative Description of Variable Rate Basis-Receive | SOFR | SOFR |
Interest rate swaps contracts | Not Designated as Hedging Instrument | ||
Derivative [Line Items] | ||
Notional Principal amount | $ 461.4 | $ 0.0 |
Average Pay % | 3.27% | 0.00% |
Years Average Maturity | 20 years 6 months | 0 years |
Derivative Description of Variable Rate Basis-Receive | SOFR | — |
Cross currency interest rate swaps | Designated as Hedging Instrument | Net investment hedges | ||
Derivative [Line Items] | ||
Notional Principal amount | $ 16.7 | $ 80.8 |
Average Pay % | 5.39% | 4.60% |
Average Receive % | 3.64% | 3.65% |
Years Average Maturity | 2 months 12 days | 10 months 24 days |
Cross currency interest rate swaps | Designated as Hedging Instrument | Cash flow hedges | ||
Derivative [Line Items] | ||
Notional Principal amount | $ 410.6 | $ 598.2 |
Average Pay % | 4.96% | 4.89% |
Average Receive % | 2.80% | 3.22% |
Years Average Maturity | 1 year 10 months 24 days | 2 years 2 months 12 days |
Cross currency interest rate swaps | Not Designated as Hedging Instrument | ||
Derivative [Line Items] | ||
Notional Principal amount | $ 34.7 | $ 44.5 |
Average Pay % | 5.39% | 5.39% |
Average Receive % | 3.64% | 3.54% |
Years Average Maturity | 2 months 12 days | 2 months 12 days |
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- Definition Average pay interest rate related to the group of interest rate derivatives No definition available.
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- Definition Average receive interest rate related to group of interest rate derivatives. No definition available.
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- Definition The reference rate for the variable rate of the interest rate derivative and the maturity of the reference rate used. No definition available.
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- Definition The reference rate for the variable rate of the interest rate derivative, such as LIBOR or the US Treasury rate and the maturity of the reference rate used, such as three months or six months LIBOR. No definition available.
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- Definition Average remaining period until maturity of the derivative contract, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Nominal or face amount used to calculate payment on derivative. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Plant and Equipment, Net (Major Classes of Plant and Equipment) (Details) - USD ($) $ in Millions |
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
---|---|---|---|
Property, Plant and Equipment [Line Items] | |||
Plant and equipment, at cost | $ 39,950.9 | $ 32,746.3 | |
Less: Accumulated depreciation | 16,580.0 | 15,274.2 | |
Plant and equipment, net | 23,370.9 | 17,472.1 | $ 14,160.5 |
Land | |||
Property, Plant and Equipment [Line Items] | |||
Plant and equipment, at cost | 312.1 | 320.8 | |
Buildings | |||
Property, Plant and Equipment [Line Items] | |||
Plant and equipment, at cost | $ 1,730.7 | 1,543.7 | |
Useful life (in years) | 30 years | ||
Production facilities | |||
Property, Plant and Equipment [Line Items] | |||
Plant and equipment, at cost | $ 21,245.2 | 19,593.1 | |
Production facilities | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Useful life (in years) | 10 years | ||
Production facilities | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Useful life (in years) | 20 years | ||
Distribution and other machinery and equipment | |||
Property, Plant and Equipment [Line Items] | |||
Plant and equipment, at cost | $ 5,472.7 | 5,129.6 | |
Distribution and other machinery and equipment | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Useful life (in years) | 5 years | ||
Distribution and other machinery and equipment | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Useful life (in years) | 25 years | ||
Cylinders | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Useful life (in years) | 10 years | ||
Cylinders | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Useful life (in years) | 25 years | ||
Tanks | |||
Property, Plant and Equipment [Line Items] | |||
Useful life (in years) | 20 years | ||
Customer Stations | |||
Property, Plant and Equipment [Line Items] | |||
Useful life (in years) | 7 years 6 months | ||
Tractors and Trailers | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Useful life (in years) | 5 years | ||
Tractors and Trailers | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Useful life (in years) | 15 years | ||
Construction in progress | |||
Property, Plant and Equipment [Line Items] | |||
Plant and equipment, at cost | $ 11,190.2 | $ 6,159.1 |
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- Definition Amount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. No definition available.
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Equity Affiliates (Narrative) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
---|---|---|---|---|---|---|---|
Dec. 31, 2021 |
Mar. 31, 2023 |
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
Sep. 30, 2015 |
Dec. 31, 2022 |
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Schedule of Equity Method Investments [Line Items] | |||||||
Investment in net assets of and advances to equity affiliates | $ 4,792.5 | $ 4,617.8 | |||||
Dividends and other distributions received from equity affiliates | 441.7 | 344.3 | $ 285.1 | ||||
Goodwill associated with affiliate companies accounted for by equity method | $ 38.7 | 41.3 | |||||
Equity method investment impairment charge | 14.8 | ||||||
Jazan Integrated Gasification and Power Company ("JIGPC") | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Payments for equity investment | $ 1,600.0 | $ 908.0 | |||||
Ownership interest percentage | 55.00% | 55.00% | |||||
Investment balance | $ 2,871.2 | $ 2,862.2 | |||||
Jazan Integrated Gasification and Power Company ("JIGPC") | Non-controlling Interests | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Payments for equity investment | $ 130.0 | $ 73.0 | |||||
Ownership percentage attributable to noncontrolling partner | 4.00% | 4.00% | |||||
Jazan Gas Project Company ("JGPC") | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Ownership interest percentage | 26.00% | ||||||
Jazan Gas Project Company ("JGPC") | Aramco | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Term of oxygen and nitrogen supply agreement | 20 years | ||||||
Obligation for equity contributions based on share of advances received by joint venture under bridge loan | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Obligation for future contribution to equity affiliate | 0.0 | $ 0.0 | |||||
Noncash adjustment for reduction of contractual obligation | $ 94.4 |
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- Definition The percentage of ownership of common stock or equity participation in the investee, attributable to noncontrolling party, accounted for under the equity method of accounting. No definition available.
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- Definition Noncash Adjustment, Reduction Of Accrued Obligation Under Joint Venture Agreement No definition available.
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- Definition Supply Agreement, Oxygen And Nitrogen No definition available.
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- Definition Amount of contractual obligation, including, but not limited to, long-term debt, lease obligation, purchase obligation, and other commitments. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Difference between amount at which an investment accounted for under the equity method of accounting is carried (reported) on the balance sheet and amount of underlying equity in net assets the reporting Entity has in the investee. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of distribution received from equity method investee for return on investment, classified as operating activities. Excludes distribution for return of investment, classified as investing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of other-than-temporary decline in value that has been recognized against investment accounted for under equity method of accounting. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of investment in equity method investee and investment in and advance to affiliate. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The cash outflow associated with the purchase of or advances to an equity method investments, which are investments in joint ventures and entities in which the entity has an equity ownership interest normally of 20 to 50 percent and exercises significant influence. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Business Segment and Geographic Information (Schedule of Geographic Information) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Sales | $ 12,100.6 | $ 12,600.0 | $ 12,698.6 |
Plant and equipment, net | 23,370.9 | 17,472.1 | 14,160.5 |
UNITED STATES | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Sales | 4,914.0 | 5,234.2 | 5,230.2 |
Plant and equipment, net | 9,159.3 | 7,431.0 | 6,022.0 |
CHINA | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Sales | 1,951.5 | 1,988.1 | 1,989.8 |
Plant and equipment, net | 3,845.7 | 3,744.7 | 3,886.0 |
SAUDI ARABIA | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Plant and equipment, net | 5,080.2 | 1,818.1 | 595.7 |
Other foreign operations | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Sales | 5,235.1 | 5,377.7 | 5,478.6 |
Plant and equipment, net | $ 5,285.7 | $ 4,478.3 | $ 3,656.8 |
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- Definition Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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Fair Value Measurements (Tables) |
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Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Carrying Values and Fair Values of Financial Instruments | The carrying values and fair values of financial instruments were as follows:
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Schedule of Fair Value of 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:
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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Accumulated Other Comprehensive Loss (Tables) |
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Sep. 30, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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:
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Schedule of Reclassifications out of Accumulated Other Comprehensive Loss | The table below summarizes the reclassifications out of AOCL and the affected line item on the consolidated income statements:
(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 18, Retirement Benefits, for additional information.
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss). No definition available.
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X | ||||||||||
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Leases (Lease Receivables) (Details) - USD ($) $ in Millions |
Sep. 30, 2024 |
Sep. 30, 2023 |
---|---|---|
Leases [Abstract] | ||
Current lease receivables | $ 74.5 | $ 78.0 |
Noncurrent lease receivables | 392.1 | 494.7 |
Total lease receivables, net | $ 466.6 | $ 572.7 |
X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition Amount excluding accrued interest, after allowance for credit loss, of net investment in sales-type and direct financing leases. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition Amount excluding accrued interest, after allowance for credit loss, of net investment in sales-type and direct financing leases, classified as current. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition Amount excluding accrued interest, after allowance for credit loss, of net investment in sales-type and direct financing leases, classified as noncurrent. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Fair Value Measurements |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 15, 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. The carrying values and fair values of financial instruments were as follows:
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:
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- 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. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Retirement Benefits (Assumptions in Calculating Projected Benefit Obligation) (Details) - Defined Benefit Pension Plan |
Sep. 30, 2024 |
Sep. 30, 2023 |
---|---|---|
U.S. | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Discount rate | 5.00% | 6.00% |
Rate of compensation increase | 3.50% | 3.50% |
International | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Discount rate | 4.60% | 5.10% |
Rate of compensation increase | 3.40% | 3.40% |
X | ||||||||||
- Definition Weighted average rate for present value of future retirement benefits cash flows, used to determine benefit obligation of defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Weighted average rate increase of compensation, used to determine benefit obligation of defined benefit plan. Plan includes, but is not limited to, pay-related defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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Retirement Benefits (Pension Plan Assets at Fair Value by Asset Class) (Details) - Defined Benefit Pension Plan - USD ($) $ in Millions |
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
---|---|---|---|
Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 301.4 | $ 260.0 | $ 209.0 |
Level 3 | Fixed income pooled funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 113.6 | 94.2 | 53.5 |
Level 3 | Insurance contracts | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 187.8 | 165.8 | 155.5 |
U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 2,533.0 | 2,299.0 | 2,404.0 |
U.S. | Total U.S. Qualified Pension Plans at Fair Value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 2,384.1 | 2,112.4 | |
U.S. | Cash and cash equivalents | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 14.7 | 14.6 | |
U.S. | Equity securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 320.0 | 143.0 | |
U.S. | Equity mutual funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 105.2 | |
U.S. | Equity pooled funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 204.7 | 187.8 | |
U.S. | Fixed income securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1,844.7 | 1,661.8 | |
U.S. | Real estate pooled funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 148.9 | 186.6 | |
U.S. | Level 1 | Total U.S. Qualified Pension Plans at Fair Value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 334.7 | 262.8 | |
U.S. | Level 1 | Cash and cash equivalents | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 14.7 | 14.6 | |
U.S. | Level 1 | Equity securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 320.0 | 143.0 | |
U.S. | Level 1 | Equity mutual funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 105.2 | |
U.S. | Level 1 | Equity pooled funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
U.S. | Level 1 | Fixed income securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
U.S. | Level 2 | Total U.S. Qualified Pension Plans at Fair Value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 2,049.4 | 1,849.6 | |
U.S. | Level 2 | Cash and cash equivalents | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
U.S. | Level 2 | Equity securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
U.S. | Level 2 | Equity mutual funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
U.S. | Level 2 | Equity pooled funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 204.7 | 187.8 | |
U.S. | Level 2 | Fixed income securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1,844.7 | 1,661.8 | |
U.S. | Level 3 | Total U.S. Qualified Pension Plans at Fair Value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
U.S. | Level 3 | Cash and cash equivalents | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
U.S. | Level 3 | Equity securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
U.S. | Level 3 | Equity mutual funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
U.S. | Level 3 | Equity pooled funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
U.S. | Level 3 | Fixed income securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
International | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1,374.5 | 1,134.0 | $ 1,122.0 |
International | Cash and cash equivalents | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3.6 | 8.0 | |
International | Equity pooled funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 192.1 | 218.5 | |
International | Fixed income pooled funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 971.6 | 724.6 | |
International | Other pooled funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 19.4 | 17.1 | |
International | Insurance contracts | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 187.8 | 165.8 | |
International | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3.6 | 8.0 | |
International | Level 1 | Cash and cash equivalents | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3.6 | 8.0 | |
International | Level 1 | Equity pooled funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
International | Level 1 | Fixed income pooled funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
International | Level 1 | Other pooled funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
International | Level 1 | Insurance contracts | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
International | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1,069.5 | 866.0 | |
International | Level 2 | Cash and cash equivalents | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
International | Level 2 | Equity pooled funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 192.1 | 218.5 | |
International | Level 2 | Fixed income pooled funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 858.0 | 630.4 | |
International | Level 2 | Other pooled funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 19.4 | 17.1 | |
International | Level 2 | Insurance contracts | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
International | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 301.4 | 260.0 | |
International | Level 3 | Cash and cash equivalents | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
International | Level 3 | Equity pooled funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
International | Level 3 | Fixed income pooled funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 113.6 | 94.2 | |
International | Level 3 | Other pooled funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
International | Level 3 | Insurance contracts | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 187.8 | $ 165.8 |
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- Definition Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Insider Trading Policies and Procedures |
12 Months Ended |
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Sep. 30, 2024 | |
Insider Trading Policies and Procedures [Line Items] | |
Insider Trading Policies and Procedures Adopted | true |
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Intangible Assets (Acquired Intangible Assets) (Details) - USD ($) $ in Millions |
Sep. 30, 2024 |
Sep. 30, 2023 |
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Goodwill and Intangible Assets Disclosure [Abstract] | ||
Intangible assets, gross | $ 673.3 | $ 672.3 |
Accumulated amortization and impairment | (361.7) | (337.7) |
Intangible assets, net | 311.6 | 334.6 |
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived intangible assets, gross | 627.1 | 625.1 |
Accumulated amortization | (351.8) | (327.6) |
Finite-lived intangible assets, net | 275.3 | 297.5 |
Trade names and trademarks | ||
Acquired Indefinite-lived Intangible Assets [Line Items] | ||
Indefinite-lived intangible assets, gross | 46.2 | 47.2 |
Accumulated impairment | (9.9) | (10.1) |
Indefinite-lived intangible assets, net | 36.3 | 37.1 |
Customer relationships | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived intangible assets, gross | 524.9 | 507.3 |
Accumulated amortization | (298.2) | (262.2) |
Finite-lived intangible assets, net | 226.7 | 245.1 |
Patents and technology | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived intangible assets, gross | 32.9 | 41.1 |
Accumulated amortization | (20.7) | (26.7) |
Finite-lived intangible assets, net | 12.2 | 14.4 |
Other | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived intangible assets, gross | 69.3 | 76.7 |
Accumulated amortization | (32.9) | (38.7) |
Finite-lived intangible assets, net | $ 36.4 | $ 38.0 |
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Business Segment and Geographic Information (Reconciliation of Operating Income) (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | ||
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Sep. 30, 2024 |
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
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Segment Reporting Information [Line Items] | ||||
Gain on sale of business | $ 1,575.6 | $ 1,575.6 | $ 0.0 | $ 0.0 |
Business and asset actions | (57.0) | (244.6) | (73.7) | |
Operating income | 4,466.1 | 2,494.6 | 2,338.8 | |
Segment Reconciling Items | ||||
Segment Reporting Information [Line Items] | ||||
Gain on sale of business | 1,575.6 | 0.0 | 0.0 | |
Business and asset actions | (57.0) | (244.6) | (73.7) | |
Segment Total | ||||
Segment Reporting Information [Line Items] | ||||
Operating income | $ 2,947.5 | $ 2,739.2 | $ 2,412.5 |
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- Definition Amount of gain (loss) from sale and disposal of integrated set of activities and assets capable of being conducted and managed for purpose of providing return in form of dividend, lower cost, or other economic benefit to investor, owner, member and participant. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Basis of Presentation and Major Accounting Policies (Policies) |
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Basis of Presentation | Basis of Presentation The accompanying consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of Air Products and Chemicals, Inc. and those of its controlled subsidiaries. The notes that follow are an integral part of our consolidated financial statements. These notes, unless otherwise indicated, are presented on a continuing operations basis. Intercompany transactions and balances are eliminated in consolidation. Certain prior year information has been reclassified to conform to the fiscal year 2024 presentation.
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Discontinued Operations | Discontinued Operations The results of operations and cash flows for our discontinued operations have been segregated from the results of continuing operations and segment results. The comprehensive income related to discontinued operations has not been segregated and is included in the consolidated comprehensive income statements. There were no assets and liabilities presented as discontinued operations on our consolidated balance sheets. Refer to Note 8, Discontinued Operations, for additional information.
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Estimates and Assumptions | Estimates and Assumptions Preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect amounts reported in the consolidated financial statements and the accompanying notes. Actual results could differ from those estimates.
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Consolidation Principles | Consolidation Principles We consolidate all entities we control under either the voting interest model, which generally applies when we hold a majority of the voting interest of an entity, or the variable interest model, which applies to arrangements for which we are the primary beneficiary of a variable interest entity ("VIE"). For consolidated subsidiaries in which our ownership is less than 100%, the outside shareholders’ interests are reflected as non-controlling interests on our consolidated financial statements. We are considered the primary beneficiary of a VIE when we have both the power to direct the activities that most significantly impact the economic performance of the VIE and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. We are the primary beneficiary of the NEOM Green Hydrogen Company and consolidate the joint venture within our Middle East and India segment. For additional information, refer to Note 3, Variable Interest Entities. We are not the primary beneficiary of any other material VIEs. We account for a VIE for which we exercise significant influence but are not the primary beneficiary, such as the Jazan Integrated Gasification and Power Company joint venture, as an equity method investment. For additional information on this joint venture, refer to Note 10, Equity Affiliates.
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Revenue Recognition | Revenue Recognition We recognize revenue when or as performance obligations are satisfied, which occurs when control is transferred to the customer. We determine the transaction price of our contracts based on the amount of consideration to which we expect to be entitled to receive in exchange for the goods or services provided. Our contracts within the scope of revenue guidance do not contain payment terms that include a significant financing component. Consistent with industry business practice, we generally do not accept sales returns or provide return allowances. Our sale of gas contracts are either accounted for over time during the period in which we deliver or make available the agreed upon quantity of goods or at a point in time when the customer receives and obtains control of the product, which generally occurs upon delivery. We generally recognize revenue from our sale of gas contracts based on the right to invoice practical expedient. Our sale of equipment contracts are generally comprised of a single performance obligation as the individual promised goods or services contained within the contracts are integrated with or dependent upon other goods or services in the contract for a single output to the customer. Revenue from our sale of equipment contracts is generally recognized over time as we have an enforceable right to payment for performance completed to date and our performance under the contract terms does not create an asset with alternative use. We recognize these contracts using a cost incurred input method by which costs incurred to date relative to total estimated costs at completion are used to measure progress toward satisfying performance obligations. Amounts billed for shipping and handling fees are classified as sales in the consolidated income statements. Shipping and handling activities for our sale of equipment contracts may be performed after the customer obtains control of the promised goods. In these cases, we have elected to apply the practical expedient to account for shipping and handling as activities to fulfill the promise to transfer the goods. Amounts billed for sales and use taxes, value-added taxes, and certain excise and other specific transactional taxes imposed on revenue-producing transactions are presented on a net basis and excluded from sales in the consolidated income statements. For additional information, refer to Note 7, Revenue Recognition.
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Cost of Sales | Cost of Sales Cost of sales predominantly represents the cost of tangible products sold. These costs include labor, raw materials, plant engineering, power, depreciation, production supplies and materials packaging costs, and maintenance costs. Costs incurred for shipping and handling are also included in cost of sales.
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Depreciation | Depreciation Depreciation is recorded using the straight-line method, which deducts equal amounts of the cost of each asset from earnings every year over its expected economic useful life. The principal lives for major classes of plant and equipment are summarized in Note 11, Plant and Equipment, net.
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Selling and Administrative | Selling and Administrative Expense The principal components of selling and administrative expense are costs related to compensation, administrative functions, and professional fees.
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Postemployment Benefits | Postemployment Benefits We provide ongoing benefit arrangements that provide nonretirement postemployment benefits such as severance and outplacement services to involuntarily terminated employees. We record a liability for these benefits when we determine it is probable that the benefits will be paid in an amount that can be reasonably estimated. These criteria are met when management, with the appropriate level of authority, approves and commits to a termination plan that identifies impacted employees and their related benefits and is expected to be substantially completed within one year. We do not provide material one-time benefit arrangements.
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Fair Value Measurements | Fair Value Measurements We are required to measure certain assets and liabilities at fair value, either upon initial measurement or for subsequent accounting or reporting. For example, fair value is used in the initial measurement of assets and liabilities acquired in a business combination; on a recurring basis in the measurement of derivative financial instruments; and on a nonrecurring basis when long-lived assets are written down to fair value when held for sale or determined to be impaired. Refer to Note 16, Fair Value Measurements, and Note 18, Retirement Benefits, for information on the methods and assumptions used in our fair value measurements.
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Financial Instruments | Financial Instruments We address certain financial exposures through a controlled program of risk management that includes the use of derivative financial instruments. The types of derivative financial instruments permitted for such risk management programs are specified in policies set by management. Refer to Note 15, Financial Instruments, for further detail on the types and use of derivative instruments into which we enter. Major financial institutions are counterparties to all of these derivative contracts. We have established counterparty credit guidelines and generally enter into transactions with financial institutions of investment grade or better. Management believes the risk of incurring losses related to credit risk is remote, and any losses would be immaterial to the consolidated financial results, financial condition, or liquidity. We recognize derivatives on the balance sheet at fair value. On the date the derivative instrument is entered into, we generally designate the derivative as either (1) a hedge of a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability (cash flow hedge), (2) a hedge of a net investment in a foreign operation (net investment hedge), or (3) a hedge of the fair value of a recognized asset or liability (fair value hedge). The following details the accounting treatment of our cash flow, fair value, net investment, and non-designated hedges: •Changes in the fair value of a derivative that is designated as and meets the cash flow hedge criteria are recorded in accumulated other comprehensive loss ("AOCL") to the extent effective and then recognized in earnings when the hedged items affect earnings. •Changes in the fair value of a derivative that is designated as and meets all the required criteria for a fair value hedge, along with the gain or loss on the hedged asset or liability that is attributable to the hedged risk, are recorded in current period earnings. •Changes in the fair value of a derivative and foreign currency debt that are designated as and meet all the required criteria for a hedge of a net investment are recorded as translation adjustments in AOCL. •Changes in the fair value of a derivative that is not designated as a hedge are recorded immediately in earnings. We formally document the relationships between hedging instruments and hedged items, as well as our risk management objective and strategy for undertaking various hedge transactions. This process includes relating derivatives that are designated as fair value or cash flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. We also formally assess, at the inception of the hedge and on an ongoing basis, whether derivatives are highly effective in offsetting changes in fair values or cash flows of the hedged item. If it is determined that a derivative is not highly effective as a hedge, or if a derivative ceases to be a highly effective hedge, we will discontinue hedge accounting with respect to that derivative prospectively.
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Foreign Currency | Foreign Currency Since we do business in many foreign countries, fluctuations in currency exchange rates affect our financial position and results of operations. In most of our foreign operations, the local currency is considered the functional currency. Foreign subsidiaries translate their assets and liabilities into U.S. dollars at current exchange rates in effect as of the balance sheet date. The gains or losses that result from this process are shown as translation adjustments in AOCL in the equity section of the balance sheet. The revenue and expense accounts of foreign subsidiaries are translated into U.S. dollars at the average exchange rates that prevail during the period. Therefore, the U.S. dollar value of these items on the consolidated income statements fluctuates from period to period, depending on the value of the U.S. dollar against foreign currencies. Some transactions are made in currencies different from an entity’s functional currency. Gains and losses from these foreign currency transactions, and the impact of related hedges, are generally reflected in "Other income (expense), net" on our consolidated income statements as they occur and were not material for the periods presented. Foreign exchange gains and losses from the foreign currency remeasurement of balances associated with intercompany and third-party financing transactions, related income tax assets and liabilities, and the impact of related hedges are reflected within “Other non-operating income (expense), net" and were not material for the periods presented. In addition, foreign currency forward points and currency swap basis differences that are excluded from the assessment of hedge effectiveness of our cash flow hedges of intercompany loans (“excluded components”) are recorded within “Other non-operating income (expense), net" on a straight-line basis. Excluded components were expenses of $31.4, $25.1, and $23.2 in fiscal years 2024, 2023, and 2022, respectively.
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Government Assistance | Government Assistance We receive various types of government assistance, primarily in the form of grants or refundable tax credits. Government assistance is recognized when there is reasonable assurance that we have complied with relevant conditions and the assistance will be received. Government assistance is recognized in the consolidated income statements on a systematic basis over the periods in which we recognize the related costs for which the government assistance is intended to compensate. Government assistance related to assets is included in the balance sheet as a reduction of the cost of the asset and results in reduced depreciation expense over the useful life of the asset. Government assistance that relates to expenses is recognized in the income statement as a reduction of the related expense or as a component of other income (expense), net. Government assistance did not have a material impact on our consolidated financial statements for the periods presented in this Annual Report on Form 10-K.
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Environmental Expenditures | Environmental Expenditures Accruals for environmental loss contingencies are recorded when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. Remediation costs are capitalized if the costs improve our property as compared with the condition of the property when originally constructed or acquired, or if the costs prevent environmental contamination from future operations. We expense environmental costs related to existing conditions resulting from past or current operations and from which no current or future benefit is discernible. The amounts charged to income from continuing operations related to environmental matters totaled $27.0, $24.9, and $22.3 in fiscal years 2024, 2023, and 2022, respectively. In addition, during the fourth quarter of fiscal year 2024, we recorded a pre-tax expense of $19.4 in results from discontinued operations to increase our existing liability for retained environmental remediation obligations associated with the sale of our former Amines business in September 2006. Refer to the "Pace" discussion within Note 19, Commitments and Contingencies, for additional information. The measurement of environmental liabilities is based on an evaluation of currently available information with respect to each individual site and considers factors such as existing technology, presently enacted laws and regulations, and prior experience in remediation of contaminated sites. An environmental liability related to cleanup of a contaminated site might include, for example, a provision for one or more of the following types of costs: site investigation and testing costs, remediation costs, post-remediation monitoring costs, natural resource damages, and outside legal fees. These liabilities include costs related to other potentially responsible parties to the extent that we have reason to believe such parties will not fully pay their proportionate share. They do not consider any claims for recoveries from insurance or other parties and are not discounted. As assessments and remediation progress at individual sites, the amount of projected cost is reviewed, and the liability is adjusted to reflect additional technical and legal information that becomes available. Management has an established process in place to identify and monitor our environmental exposures. An environmental accrual analysis is prepared and maintained that lists all environmental loss contingencies, even where an accrual has not been established. This analysis assists in monitoring our overall environmental exposure and serves as a tool to facilitate ongoing communication among our technical experts, environmental managers, environmental lawyers, and financial management to ensure that required accruals are recorded and potential exposures disclosed. Due to inherent uncertainties involved in evaluating environmental exposures, actual costs to be incurred at identified sites in future periods may vary from the estimates. Refer to Note 19, Commitments and Contingencies, for additional information on our environmental loss contingencies. The accruals for environmental liabilities are reflected in the consolidated balance sheets, primarily as part of other noncurrent liabilities.
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Litigation | Litigation In the normal course of business, we are involved in legal proceedings. We accrue a liability for such matters when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. When only a range of possible loss can be established, the most probable amount in the range is accrued. If no amount within this range is a better estimate than any other amount within the range, the minimum amount in the range is accrued. The accrual for a litigation loss contingency includes estimates of potential damages and other directly related costs expected to be incurred. Refer to Note 19, Commitments and Contingencies, for additional information on our current legal proceedings.
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Share-Based Compensation | Share-Based Compensation We expense the grant-date fair value of our share-based awards over the vesting period during which employees perform related services. Expense recognition is accelerated for retirement-eligible individuals who would meet the requirements for vesting of awards upon their retirement. Refer to Note 21, Share-Based Compensation, for additional information regarding our awards, including the models and assumptions used to determine their grant-date fair value.
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Income Taxes | Income Taxes We account for income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the tax effects of temporary differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to be recovered or settled. A principal temporary difference results from the excess of tax depreciation over book depreciation because accelerated methods of depreciation and shorter useful lives are used for income tax purposes. The cumulative impact of a change in tax rates or regulations is included in income tax expense in the period that includes the enactment date. We recognize deferred tax assets net of existing valuation allowances to the extent we believe that these assets are more likely than not to be realized considering all available evidence. A tax benefit for an uncertain tax position is recognized when it is more likely than not that the position will be sustained upon examination based on its technical merits. This position is measured as the largest amount of tax benefit that is greater than 50% likely of being realized. Interest and penalties related to unrecognized tax benefits are recognized as a component of income tax expense. We have elected as an accounting policy to account for Global Intangible Low Tax Income (“GILTI”) as a period cost when incurred. For additional information regarding our income taxes, refer to Note 24, Income Taxes.
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Other Non-Operating Income (Expense), net | Other Non-Operating Income (Expense), net "Other non-operating income (expense), net" includes interest income associated with our cash and cash items and short-term investments, certain foreign currency remeasurements and impacts from the related hedging activities discussed in the Foreign Currency section above, and non-service cost components of net periodic pension and postretirement benefit cost. Our non-service costs primarily include interest cost, expected return on plan assets, amortization of actuarial gains and losses, and settlements. Additionally, during the third quarter of fiscal year 2024, we discontinued cash flow hedge accounting for certain interest rate swaps associated with financing for the NEOM Green Hydrogen Project. As a result of the de-designation, unrealized gains and losses are recorded to "Other non-operating income (expense), net" until the instruments re-qualify for cash flow hedge accounting. Refer to Note 3, Variable Interest Entities, and Note 15, Financial Instruments, for additional information.
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Cash and Cash Items | Cash and Cash Items "Cash and cash items" include cash, time deposits, and treasury securities acquired with an original maturity of three months or less.
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Short-term Investments | Short-term Investments "Short-term investments" include time deposits and treasury securities with original maturities greater than three months and less than one year.
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Credit Losses | Credit Losses We are exposed to credit losses primarily through sales of products and services. When extending credit, we evaluate customer creditworthiness based on a combination of qualitative and quantitative factors that include, but are not limited to, the customer’s credit score from external providers, financial condition, and past payment experience. We assess allowances for credit losses on our trade receivable, lease receivable, and financing receivable portfolios. Allowances are evaluated by portfolio on a collective basis where similar characteristics exist. A provision for customer defaults is made on a general formula basis as the risk of some default is expected but cannot yet be associated with specific customers. The assessment of the likelihood of default is based on various factors, including the length of time the receivables are past due, historical experience, existing economic conditions, and forward-looking information. When we identify specific customers with known collectability issues, the assessment for credit losses is performed on an individual basis, considering current and forward-looking information of the customer. We also consider variables that may mitigate the inherent credit risk of a particular transaction, such as the estimated fair value of the collateral, whether by use or sale. The use of forward-looking information considers economic conditions that may affect the customers’ ability to pay. Although we historically have not experienced significant credit losses, our exposure to credit losses may increase if our customers are adversely affected by economic pressures or uncertainty associated with local or global economic recessions, or other customer-specific factors. We review our reserves for credit losses on a quarterly basis. Trade receivables comprise amounts owed to us through our operating activities and are presented net of allowances for credit losses. Changes to the carrying amount of the allowance for credit losses on trade receivables are summarized below:
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Inventories | Inventories We carry inventory that is comprised of finished goods, work-in-process, raw materials and supplies. Refer to Note 9, Inventories, for further detail. Inventories on our consolidated balance sheets are stated at the lower of cost or net realizable value. We determine the cost of all our inventories on a first-in, first-out basis ("FIFO"). We write down our inventories for estimated obsolescence or unmarketable inventory based upon assumptions about future demand and market conditions.
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Equity Method Investments | Equity Method Investments We apply the equity method of accounting when we have the ability to exercise significant influence but do not control the operating and financial decisions of an investee, which generally applies when our ownership interest in common stock or in-substance common stock of the investee is between 20% and 50%. Under the equity method, we initially record our investment at cost and subsequently adjust the investment to recognize our share of net earnings or losses, distributions received, and other-than-temporary impairments. The carrying value of our equity method investments is reflected as "Investment in net assets of and advances to equity affiliates" on our consolidated balance sheets. We use the cumulative earnings approach for determining cash flow presentation of cash distributions received from equity method investees. Equity investments are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment may not be recoverable. Our share of the investee's net earnings is primarily presented net of income taxes within “Equity affiliates’ income" on our consolidated income statements. Profits or losses related to intra-entity sales with our equity method investees are eliminated consistent with our ownership percentage in the entity until realized by the investee through a transaction with a third party. In addition, “Equity affiliates’ income” includes interest income from shareholder loans viewed as in-substance common stock.
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Plant and Equipment, net | Plant and Equipment, net Plant and equipment, net is stated at cost less accumulated depreciation. Construction costs, labor, and applicable overhead related to installations are capitalized. Expenditures for additions and improvements that extend the lives or increase the capacity of plant assets are capitalized. The costs of maintenance and repairs of plant and equipment are expensed as incurred. Fully depreciated assets are retained in the gross plant and equipment and accumulated depreciation accounts until they are removed from service. In the case of disposals, assets and related accumulated depreciation are removed from the accounts, and the net amounts, less proceeds from disposal, are included in income. Refer to Note 11, Plant and Equipment, net, for further detail.
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Computer Software | Computer Software We capitalize costs incurred to purchase or develop software for internal use. Capitalized costs include purchased computer software packages, payments to vendors/consultants for development and implementation or modification to a purchased package to meet our requirements, payroll and related costs for employees directly involved in development, and interest incurred while software is being developed. Capitalized costs are reflected in "Plant and equipment, net" on the consolidated balance sheets and are depreciated over the estimated useful life of the software, generally a period of three to five years. We capitalize costs incurred with the implementation of a cloud computing arrangement that is a service contract, consistent with our policy for software developed or obtained for internal use. However, the capitalized costs are reflected in "Other noncurrent assets" on our consolidated balance sheets and expensed over the term of the related hosting arrangement.
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Leases as Lessee | Leases as Lessee As lessee, we recognize a right-of-use ("ROU") asset and lease liability on the balance sheet for all leases with terms in excess of 12 months. We evaluate whether an arrangement contains a lease at inception by determining whether there is an identifiable asset, we obtain substantially all the economic benefits from that asset, and we direct how and for what purpose the asset is used during the term of the arrangement. We apply a practical expedient to exclude arrangements with initial terms of 12 months or less from our balance sheet. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. Since our leases generally do not provide an implicit discount rate, we use our incremental borrowing rates based on the information available at the commencement date in determining the present value of lease payments. To determine the incremental borrowing rate, we consider our unsecured borrowings and published market rates, and then adjust those rates to assume full collateralization and to factor in the individual lease term, geography, and payment structure. Our lease term includes periods covered by options to extend or terminate the lease when it is reasonably certain that we will exercise an option to extend or not exercise an option to terminate. Lease payments consider our practical expedient to combine amounts for lease and related non-lease components for all classes of underlying assets in which we are lessee. Fixed payments and payments associated with escalation clauses based on an index are included in the ROU asset and lease liability at commencement. Variable lease payments are excluded from the ROU assets and lease liabilities and are recognized in the period in which the obligation for those payments is incurred. Our variable lease payments primarily include the impact from escalation clauses that are not fixed or based on an index. Prepaid lease payments are included in the recognition of ROU assets. Our lease agreements do not contain any material lease incentives, residual value guarantees or restrictions or covenants.
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Leases as Lessor | Leases as Lessor Certain contracts associated with facilities that are built to provide product to a specific customer are accounted for as containing embedded leases. Our lease receivables are primarily long-term in nature and relate to sales-type leases on certain on-site assets for which payments are collected over the contract term. Revenue representing interest income from the financing component of the lease receivable is reflected as sales over the life of the contract. In cases for which operating lease treatment is appropriate, there is no difference in revenue recognition over the life of the contract as compared to accounting for the contract under a sale of gas agreement. These contracts qualify for a practical expedient available to lessors to combine the lease and non-lease components and account for the combined component in accordance with the accounting treatment for the predominant component. We elected to apply this practical expedient and have accounted for the combined component as product sales under the revenue standard as we control the operations and maintenance of the assets that provide the supply of gas to our customers. There have been no new arrangements that qualified as a lease for which we are the lessor in fiscal year 2024.
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Financing Receivable | Financing Receivables Some of our acquisitions include terms that provide the seller with both the right to receive all output from the acquired asset for an agreed upon term as well as the right to reacquire the asset at a future date. In these instances, we evaluate the contract terms to determine whether we have obtained control of the underlying asset, or the transaction qualifies as a financing arrangement. For transactions that qualify as financing arrangements, we record our investment as a financing receivable, net of any allowances for credit losses, on our consolidated balance sheets. We then recognize a portion of the payments received as a reduction to the financing receivable. Related interest income is presented within “Sales” on our consolidated income statements with revenue received to operate the plant. Accrued interest is presented within trade receivables, net and was not material as of 30 September 2024 and 2023.
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Impairment of Long-Lived Assets | Impairment of Long-Lived Assets Long-lived assets are grouped for impairment testing at the lowest level for which there are identifiable cash flows that are largely independent of the cash flows of other assets and liabilities. Long-lived assets are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. We assess recoverability by comparing the carrying amount of the asset group to estimated undiscounted future cash flows expected to be generated by the asset group. If an asset group is considered impaired, the impairment loss to be recognized is measured as the amount by which the asset group’s carrying amount exceeds its fair value. Long-lived assets meeting the held for sale criteria are reported at the lower of carrying amount or fair value less cost to sell.
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Asset Retirement Obligations | Asset Retirement Obligations The fair value of a liability for an asset retirement obligation is recognized in the period in which it is incurred. The fair value of the liability is measured using discounted estimated cash flows and is adjusted to its present value in subsequent periods as accretion expense is recorded. The corresponding asset retirement costs are capitalized as part of the carrying amount of the related long-lived asset and depreciated over the asset’s useful life. Our asset retirement obligations are primarily associated with on-site long-term supply contracts under which we have built a facility on land owned by the customer and are obligated to remove the facility at the end of the contract term. Refer to Note 19, Commitments and Contingencies, for further detail.
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Goodwill | Goodwill Business combinations are accounted for using the acquisition method. The purchase price is allocated to the assets acquired and liabilities assumed based on their estimated fair values. Any excess purchase price (plus the fair value of any noncontrolling interest and previously held equity interest in the acquiree) over the fair market value of the net assets acquired, including identified intangibles, is recorded as goodwill. Preliminary purchase price allocations are made at the date of acquisition and finalized when information about facts and circumstances that existed as of the acquisition date needed to finalize underlying estimates is obtained or when we determine that such information is not obtainable, within a maximum measurement period of one year. Goodwill is subject to impairment testing at least annually. In addition, goodwill is tested more frequently if a change in circumstances or the occurrence of events indicates that potential impairment exists. Refer to Note 12, Goodwill, for further detail.
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Intangible Assets | Intangible Assets Intangible assets with determinable lives primarily consist of customer relationships, purchased patents and technology, and certain land use rights. The cost of intangible assets with determinable lives is amortized on a straight-line basis over the estimated period of economic benefit. No residual value is estimated for these intangible assets. Indefinite-lived intangible assets consist of trade names and trademarks. Indefinite-lived intangibles are subject to impairment testing at least annually. In addition, intangible assets are tested more frequently if a change in circumstances or the occurrence of events indicates that potential impairment exists. Customer relationships are generally amortized over periods of five to 25 years. Purchased patents and technology and other finite-lived intangibles are generally amortized over periods of five to 15 years. Other intangibles includes certain land use rights, which are generally amortized over a period of 50 years. Amortizable lives are adjusted whenever there is a change in the estimated period of economic benefit. Refer to Note 13, Intangible Assets, for further detail.
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Retirement Benefits | Retirement Benefits Our retirement benefit plans are discussed in Note 18, Retirement Benefits. The cost of benefits we contribute to defined contribution plans is recognized in the year earned. The cost of benefits under our defined benefit and other post-retirement plans is generally recognized over the employees’ service period. We use actuarial methods and assumptions in the valuation of defined benefit obligations and the determination of expense. Differences between actual and expected results or changes in the value of obligations and plan assets are recognized systematically over subsequent periods
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New Accounting Guidance | New Accounting Guidance to be Implemented Climate-Related Disclosures In March 2024, the SEC issued Release No. 33-11275, “The Enhancement and Standardization of Climate-Related Disclosures for Investors", which includes final rules for providing qualitative and quantitative disclosures regarding certain climate-related topics on an annual basis. As a result of ongoing litigation in the U.S., the SEC issued an order in April 2024 to stay the effectiveness of the rules while judicial review is pending. If the rules are not overturned and take effect on schedule, prospective adoption will be permitted with phased-in compliance beginning with our Annual Report on Form 10-K for the fiscal year ending 30 September 2026. We are evaluating the impact these rules will have on our disclosures. Reportable Segment Disclosures In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures". The update includes enhanced disclosures about significant segment expenses and identification of the chief operating decision maker. The update will be effective in our Annual Report on Form 10-K for the fiscal year ending 30 September 2025 as well as interim periods thereafter, although early adoption is permitted. The amendments must be applied retrospectively to all prior periods presented. We are evaluating the impact this update will have on our disclosures. Income Tax Disclosures In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740)—Improvements to Income Tax Disclosures” to expand income tax disclosures, primarily through disaggregation requirements for the rate reconciliation and income taxes paid. The update will be effective in our Annual Report on Form 10-K for the fiscal year ending 30 September 2026, although early adoption is permitted. The amendments should be applied on a prospective basis with a retrospective option. We are evaluating the impact this update will have on our disclosures.
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- Definition Other Nonoperating Income Expense [Policy Text Block] No definition available.
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- References No definition available.
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- Definition Disclosure of accounting policy for legal obligation associated with retirement of long-lived asset that results from acquisition, construction, or development or from normal operation of long-lived asset. Excludes environmental remediation liability from improper or other-than-normal operation of long-lived asset, obligation arising in connection with leased property that meets definition of lease payments or variable lease payments and from plan to sell or otherwise dispose of a long-lived asset. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Disclosure of accounting policy for basis of accounting, or basis of presentation, used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). No definition available.
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- Definition Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Disclosure of accounting policy for commitments and contingencies, which may include policies for recognizing and measuring loss and gain contingencies. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Disclosure of accounting policy for cost of product sold and service rendered. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Disclosure of accounting policy for credit loss on financial instrument measured at amortized cost basis, net investment in lease, off-balance sheet credit exposure, and available-for-sale debt security. Includes, but is not limited to, methodology used to estimate allowance for credit loss, how writeoff of uncollectible amount is recognized, and determination of past due status and nonaccrual status. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Disclosure of accounting policy for depreciation, depletion, and amortization of property and equipment costs, including methods used and estimated useful lives and how impairment of such assets is assessed and recognized. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Disclosure of accounting policy for its derivative instruments and hedging activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Disclosure of accounting policy for discontinued operations. Includes, but is not limited to, method of interest allocation to a discontinued operation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Disclosure of accounting policy for obligations that resulted from improper or other-than normal operation of a long-lived asset in the past. This accounting policy may address (1) whether the related remediation costs are expensed or capitalized, (2) whether the obligation is measured on a discounted basis, (3) the event, situation, or set of circumstances that generally triggers recognition of loss contingencies arising from the entity's environmental remediation-related obligations, and (4) the timing of recognition of any recoveries. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Disclosure of accounting policy for equity method of accounting for investments and other interests. Investment includes, but is not limited to, unconsolidated subsidiary, corporate joint venture, noncontrolling interest in real estate venture, limited partnership, and limited liability company. Information includes, but is not limited to, ownership percentage, reason equity method is or is not considered appropriate, and accounting policy election for distribution received. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Disclosure of accounting policy for fair value measurements of financial and non-financial assets, liabilities and instruments classified in shareholders' equity. Disclosures include, but are not limited to, how an entity that manages a group of financial assets and liabilities on the basis of its net exposure measures the fair value of those assets and liabilities. No definition available.
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- Definition Disclosure of accounting policy for financing receivable. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Disclosure of accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign reporting enterprise in a hyperinflationary economy. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Disclosure of accounting policy for goodwill. This accounting policy also may address how an entity assesses and measures impairment of goodwill, how reporting units are determined, how goodwill is allocated to such units, and how the fair values of the reporting units are determined. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Disclosure of accounting policy for intangible assets. This accounting policy may address both intangible assets subject to amortization and those that are not. The following also may be disclosed: (1) a description of intangible assets (2) the estimated useful lives of those assets (3) the amortization method used (4) how the entity assesses and measures impairment of such assets (5) how future cash flows are estimated (6) how the fair values of such asset are determined. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Disclosure of accounting policy for government assistance. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Disclosure of accounting policy for recognizing and measuring the impairment of long-lived assets. An entity also may disclose its accounting policy for long-lived assets to be sold. This policy excludes goodwill and intangible assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Disclosure of accounting policy for costs incurred when both (1) the software is acquired, internally developed, or modified solely to meet the entity's internal needs, and (2) during the software's development or modification, no substantive plan exists or is being developed to market the software externally. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Disclosure of inventory accounting policy for inventory classes, including, but not limited to, basis for determining inventory amounts, methods by which amounts are added and removed from inventory classes, loss recognition on impairment of inventories, and situations in which inventories are stated above cost. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Disclosure of accounting policy for investment in financial asset. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Disclosure of accounting policy for leasing arrangement entered into by lessee. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Disclosure of accounting policy for leasing arrangements entered into by lessor. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact. No definition available.
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- Definition Disclosure of accounting policy for pension and other postretirement benefit plans. This accounting policy may address (1) the types of plans sponsored by the entity, and the benefits provided by each plan (2) groups that participate in (or are covered by) each plan (3) how plan assets, liabilities and expenses are measured, including the use of any actuaries and (4) significant assumptions used by the entity to value plan assets and liabilities and how such assumptions are derived. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Disclosure of accounting policy for postemployment benefits. Postemployment benefits are benefits provided to former or inactive employees, their beneficiaries, and covered dependents after employment but before retirement, except for: a) benefits provided through a pension or postretirement benefit plan, b) individual deferred compensation arrangements, c) special or contractual termination benefits, and d) stock compensation plans. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Disclosure of accounting policy for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Disclosure of accounting policy for revenue. Includes revenue from contract with customer and from other sources. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Disclosure of accounting policy for inclusion of significant items in the selling, general and administrative (or similar) expense report caption. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Disclosure of accounting policy for award under share-based payment arrangement. Includes, but is not limited to, methodology and assumption used in measuring cost. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Leases (Minimum Lease Payments Expected to be Collected) (Details) - USD ($) $ in Millions |
Sep. 30, 2024 |
Sep. 30, 2023 |
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Minimum Lease Payments Expected to be Collected on Sales-type and Direct Financing Leases | ||
2025 | $ 110.3 | |
2026 | 100.0 | |
2027 | 86.5 | |
2028 | 70.2 | |
2029 | 67.2 | |
Thereafter | 203.0 | |
Total | 637.2 | |
Unearned interest income | (170.6) | |
Lease receivables, net | $ 466.6 | $ 572.7 |
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- Definition Amount excluding accrued interest, after allowance for credit loss, of net investment in sales-type and direct financing leases. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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- Definition Amount of undiscounted cash flows to be received by lessor for sales-type and direct financing leases. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of undiscounted cash flows to be received by lessor for sales-type and direct financing leases in fifth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of undiscounted cash flows to be received by lessor for sales-type and direct financing leases in fourth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of undiscounted cash flows to be received by lessor for sales-type and direct financing leases in next fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of undiscounted cash flows to be received by lessor for sales-type and direct financing leases after fifth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Amount of undiscounted cash flows to be received by lessor for sales-type and direct financing leases in third fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of undiscounted cash flows to be received by lessor for sales-type and direct financing leases in second fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of undiscounted lease receivable in excess of discounted receivable for sales-type and direct financing leases. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
Consolidated Statements of Cash Flows - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
Operating Activities | |||
Net Income | $ 3,862.4 | $ 2,338.6 | $ 2,266.5 |
Less: Net income attributable to noncontrolling interests of continuing operations | 34.2 | 38.4 | 10.4 |
Net Income Attributable to Air Products | 3,828.2 | 2,300.2 | 2,256.1 |
Net loss (income) from discontinued operations | 13.9 | (7.4) | (12.6) |
Net income from continuing operations attributable to Air Products | 3,842.1 | 2,292.8 | 2,243.5 |
Adjustments to reconcile income to cash provided by operating activities: | |||
Depreciation and amortization | 1,451.1 | 1,358.3 | 1,338.2 |
Deferred income taxes | (69.3) | (24.7) | 32.3 |
Gain on sale of business | (1,575.6) | 0.0 | 0.0 |
Business and asset actions | 57.0 | 244.6 | 73.7 |
Undistributed earnings to equity method investments | (206.0) | (261.2) | (214.7) |
Gain on sale of assets and investments | (31.4) | (15.8) | (24.1) |
Share-based compensation | 61.8 | 59.9 | 48.4 |
Noncurrent lease receivables | 116.2 | 79.6 | 94.0 |
Other adjustments | 183.8 | (103.0) | (304.9) |
Working capital changes that provided (used) cash, excluding effects of acquisitions: | |||
Trade receivables | (111.0) | 130.7 | (475.2) |
Inventories | (137.8) | (129.4) | (94.3) |
Other receivables | 34.4 | (93.8) | (1.8) |
Payables and accrued liabilities | (338.7) | (213.3) | 532.5 |
Other working capital | 370.1 | (119.0) | (77.0) |
Cash Provided by Operating Activities | 3,646.7 | 3,205.7 | 3,170.6 |
Investing Activities | |||
Additions to plant and equipment, including long-term deposits | (6,796.7) | (4,626.4) | (2,926.5) |
Acquisitions, less cash acquired | 0.0 | 0.0 | (65.1) |
Investment in and advances to unconsolidated affiliates | 0.0 | (912.0) | (1,658.4) |
Investment in financing receivables | (403.0) | (665.1) | 0.0 |
Proceeds from sale of assets and investments | 1,878.8 | 25.4 | 46.2 |
Purchases of investments | (141.4) | (640.1) | (1,637.8) |
Proceeds from investments | 470.7 | 897.0 | 2,377.4 |
Other investing activities | 72.4 | 4.8 | 7.0 |
Cash Used for Investing Activities | (4,919.2) | (5,916.4) | (3,857.2) |
Financing Activities | |||
Long-term debt proceeds | 4,678.3 | 3,516.2 | 766.2 |
Payments on long-term debt | (486.2) | (615.4) | (400.0) |
(Decrease) Increase in commercial paper and short-term borrowings | (289.9) | 268.2 | 17.9 |
Dividends paid to shareholders | (1,564.9) | (1,496.6) | (1,383.3) |
Proceeds from stock option exercises | 7.9 | 24.0 | 19.3 |
Investments by noncontrolling interests | 428.5 | 234.9 | 21.0 |
Distributions to noncontrolling interests | (25.8) | (115.9) | (4.8) |
Other financing activities | (132.5) | (205.8) | (36.9) |
Cash Provided by (Used for) Financing Activities | 2,615.4 | 1,609.6 | (1,000.6) |
Discontinued Operations | |||
Cash provided by operating activities | 0.0 | 0.6 | 59.6 |
Cash provided by investing activities | 0.0 | 0.0 | 0.0 |
Cash provided by financing activities | 0.0 | 0.0 | 0.0 |
Cash Provided by Discontinued Operations | 0.0 | 0.6 | 59.6 |
Effect of Exchange Rate Changes on Cash | 19.8 | 6.5 | (130.3) |
Increase (Decrease) in cash and cash items | 1,362.7 | (1,094.0) | (1,757.9) |
Cash and cash items – Beginning of year | 1,617.0 | 2,711.0 | 4,468.9 |
Cash and Cash Items – End of Period | $ 2,979.7 | $ 1,617.0 | $ 2,711.0 |
X | ||||||||||
- Definition Amount of cash outflow to a noncontrolling interest. Includes, but not limited to, reduction of noncontrolling interest ownership. Includes dividends paid to the noncontrolling interest. No definition available.
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; including, but not limited to, disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of increase (decrease) in cash, cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; including effect from exchange rate change. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount of cash inflow (outflow) of financing activities of discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount of cash inflow (outflow) of investing activities of discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount of cash inflow (outflow) of operating activities of discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount of increase (decrease) from effect of exchange rate changes on cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; held in foreign currencies. Excludes amounts for disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of gain (loss) from sale and disposal of integrated set of activities and assets capable of being conducted and managed for purpose of providing return in form of dividend, lower cost, or other economic benefit to investor, owner, member and participant. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The net realized gain (loss) on investments sold during the period, not including gains (losses) on securities separately or otherwise categorized as trading, available-for-sale, or held-to-maturity, which, for cash flow reporting, is a component of proceeds from investing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount after tax of income (loss) from continuing operations attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount after tax of income (loss) from continuing operations attributable to the noncontrolling interest. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount after tax of income (loss) from a discontinued operation attributable to the parent. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition This element represents the undistributed income (or loss) of equity method investments, net of dividends or other distributions received from unconsolidated subsidiaries, certain corporate joint ventures, and certain noncontrolled corporations; such investments are accounted for under the equity method of accounting. This element excludes distributions that constitute a return of investment, which are classified as investing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition The increase (decrease) during the reporting period in the amount due from lessees arising from lease agreements. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of increase (decrease) in operating assets after deduction of operating liabilities classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount of increase (decrease) in receivables classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Increase (decrease) in cash associated with the entity's discontinued operations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Other cash or noncash adjustments to reconcile net income to cash provided by (used in) operating activities that are not separately disclosed in the statement of cash flows (for example, cash received or cash paid during the current period for miscellaneous operating activities, net change during the reporting period in other assets or other liabilities). No definition available.
|
X | ||||||||||
- Definition Amount of cash (inflow) outflow from investing activities classified as other. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Amount of cash outflow in the form of ordinary dividends to common shareholders of the parent entity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition The cash outflow for the purchase of amounts due from customers, clients, lessees, borrowers, or others under the terms of its agreements therewith. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition The cash outflow associated with the acquisition of or advances to an entity that is related to it but not strictly controlled (for example, an unconsolidated subsidiary, affiliate, and joint venture or equity method investment) or the acquisition of an additional interest in a subsidiary (controlled entity). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition The cash outflow for securities or other assets acquired, which qualify for treatment as an investing activity and are to be liquidated, if necessary, within the current operating cycle. Includes cash flows from securities classified as trading securities that were acquired for reasons other than sale in the short-term. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition The cash inflow from a debt initially having maturity due after one year or beyond the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of cash inflow from a noncontrolling interest. Includes, but is not limited to, purchase of additional shares or other increase in noncontrolling interest ownership. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount of cash inflow (outflow) from financing activities classified as other. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The net cash inflow or outflow for borrowing having initial term of repayment within one year or the normal operating cycle, if longer. No definition available.
|
X | ||||||||||
- Definition The cash inflow from sales, maturities, prepayments, calls and collections of all investments, including securities and other assets, having ready marketability and intended by management to be liquidated, if necessary, within the current operating cycle. Includes cash flows from securities classified as trading securities that were acquired for reasons other than sale in the short-term. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Aggregate cash proceeds received from a combination of transactions that are classified as investing activities in which assets, which may include one or more investments, are sold to third-party buyers. This element can be used by entities to aggregate proceeds from all asset sales that are classified as investing activities. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Amount of cash inflow from exercise of option under share-based payment arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount of noncash expense for share-based payment arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
Business and Asset Actions-Global Cost Reduction Plan (Details) position in Millions, $ in Millions |
3 Months Ended | 12 Months Ended | ||
---|---|---|---|---|
Mar. 31, 2024
USD ($)
position
|
Jun. 30, 2023
USD ($)
|
Sep. 30, 2024
USD ($)
|
Sep. 30, 2023
USD ($)
|
|
Restructuring and Related Activities [Abstract] | ||||
Charge for severance and other postemployment benefits | $ 57.0 | $ 27.0 | $ 57.0 | $ 27.0 |
Number of employees to whom involuntary termination benefits are payable | position | 1,100 | |||
Cash payments | (43.6) | (6.8) | ||
Currency translation adjustment | 0.8 | (0.4) | ||
Amount accrued | $ 34.0 | $ 19.8 |
X | ||||||||||
- Definition Amount of cash payments made as the result of exit or disposal activities. Excludes payments associated with a discontinued operation or an asset retirement obligation. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The expected number of positions to be eliminated as a result of restructuring activities. No definition available.
|
X | ||||||||||
- Definition Carrying amount as of the balance sheet date of known and estimated obligations associated with exit from or disposal of business activities or restructurings pursuant to a duly authorized plan, which are expected to be paid in the next twelve months or in the normal operating cycle if longer. Costs of such activities include those for one-time termination benefits, termination of an operating lease or other contract, consolidating or closing facilities, relocating employees, and costs associated with an ongoing benefit arrangement, but excludes costs associated with the retirement of a long-lived asset. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Amount of foreign currency translation gain (loss) which decreases (increases) the restructuring reserve. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Amount of expenses for special or contractual termination benefits provided to current employees involuntarily terminated under a benefit arrangement associated exit or disposal activities pursuant to an authorized plan. Excludes expenses related to one-time termination benefits, a discontinued operation or an asset retirement obligation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
Business Segment and Geographic Information (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Segment Reporting Information by Segment | Business Segment Information
(A)Sales relate to external customers only. All intersegment sales are eliminated in consolidation. (B)Refer to the Reconciliations to Consolidated Results section below.
|
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Reconciliation of Segments to Consolidated Operating Income | The table below reconciles total operating income disclosed in the table above to consolidated operating income as reflected on our consolidated income statements:
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Reconciliation of Segments to Consolidated Equity Affiliates' Income | The table below reconciles total equity affiliates' income disclosed in the table above to consolidated equity affiliates' income as reflected on our consolidated income statements:
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Schedule of Revenue and Long-Lived Assets by Geographical Areas | Geographic Information The geographic information presented below is based on country of origin. Sales to External Customers
(A)"Long-lived assets" represents plant and equipment, net.
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X | ||||||||||
- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Tabular disclosure of reconciliation of other items from reportable segments to their consolidated amount. Excludes reconciliation of revenue, profit (loss), and assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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Retirement Benefits (Projected Benefit Payments) (Details) - Defined Benefit Pension Plan $ in Millions |
Sep. 30, 2024
USD ($)
|
---|---|
U.S. | |
Defined Benefit Plan Disclosure [Line Items] | |
2025 | $ 182.5 |
2026 | 183.0 |
2027 | 185.7 |
2028 | 188.1 |
2029 | 190.2 |
2030-2034 | 954.5 |
International | |
Defined Benefit Plan Disclosure [Line Items] | |
2025 | 60.5 |
2026 | 63.7 |
2027 | 67.0 |
2028 | 68.5 |
2029 | 69.8 |
2030-2034 | $ 385.7 |
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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X | ||||||||||
- Definition Amount of benefit for defined benefit plan expected to be paid in five fiscal years after fifth fiscal year following current fiscal year. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Amount of benefit for defined benefit plan expected to be paid in next fiscal year following current fiscal year. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Amount of benefit for defined benefit plan expected to be paid in fifth fiscal year following current fiscal year. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of benefit for defined benefit plan expected to be paid in fourth fiscal year following current fiscal year. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of benefit for defined benefit plan expected to be paid in third fiscal year following current fiscal year. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of benefit for defined benefit plan expected to be paid in second fiscal year following current fiscal year. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Accumulated Other Comprehensive Loss (Rollforward) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||
Beginning balance | $ 15,660.3 | $ 13,702.4 | $ 14,088.0 |
Other comprehensive income (loss) before reclassifications | 254.0 | 511.4 | (1,463.0) |
Amounts reclassified from AOCL | 20.7 | 9.6 | 163.5 |
Total Other Comprehensive Income (Loss) | 274.7 | 521.0 | (1,299.5) |
Amount attributable to noncontrolling interests | (147.0) | 184.3 | (29.3) |
Ending balance | 18,673.7 | 15,660.3 | 13,702.4 |
AOCL attributable to Air Products | |||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||
Beginning balance | (2,449.4) | (2,786.1) | (1,515.9) |
Total Other Comprehensive Income (Loss) | 421.7 | 336.7 | (1,270.2) |
Ending balance | (2,027.7) | (2,449.4) | (2,786.1) |
Derivatives qualifying as hedges | |||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||
Beginning balance | 61.1 | (71.9) | (28.3) |
Other comprehensive income (loss) before reclassifications | (159.5) | 369.2 | (120.3) |
Amounts reclassified from AOCL | (33.7) | (43.9) | 91.4 |
Total Other Comprehensive Income (Loss) | (193.2) | 325.3 | (28.9) |
Amount attributable to noncontrolling interests | (159.3) | 192.3 | 14.7 |
Ending balance | 27.2 | 61.1 | (71.9) |
Foreign currency translation adjustments | |||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||
Beginning balance | (1,913.3) | (2,072.4) | (893.8) |
Other comprehensive income (loss) before reclassifications | 381.5 | 151.1 | (1,230.5) |
Amounts reclassified from AOCL | (1.5) | (0.3) | 7.3 |
Total Other Comprehensive Income (Loss) | 380.0 | 150.8 | (1,223.2) |
Amount attributable to noncontrolling interests | 12.0 | (8.3) | (44.6) |
Ending balance | (1,545.3) | (1,913.3) | (2,072.4) |
Pension and postretirement benefits | |||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||
Beginning balance | (597.2) | (641.8) | (593.8) |
Other comprehensive income (loss) before reclassifications | 32.0 | (8.9) | (112.2) |
Amounts reclassified from AOCL | 55.9 | 53.8 | 64.8 |
Total Other Comprehensive Income (Loss) | 87.9 | 44.9 | (47.4) |
Amount attributable to noncontrolling interests | 0.3 | 0.3 | 0.6 |
Ending balance | $ (509.6) | $ (597.2) | $ (641.8) |
X | ||||||||||
- Definition Amount after tax, before reclassification adjustments of other comprehensive income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount after tax of other comprehensive income (loss) attributable to noncontrolling interests. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Amount after tax of reclassification adjustments of other comprehensive income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
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- Definition Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Supplemental Information (Other Receivables and Current Assets) (Details) - USD ($) $ in Millions |
Sep. 30, 2024 |
Sep. 30, 2023 |
---|---|---|
Disclosure Text Block Supplement [Abstract] | ||
Derivative instruments | $ 93.9 | $ 73.5 |
Value added tax receivable | 195.9 | 209.6 |
Contract fulfillment costs | 103.7 | 89.0 |
Contract assets | 76.2 | 124.7 |
Current lease receivables | 74.5 | 78.0 |
Current financing receivables | 0.0 | 50.0 |
Other | 66.6 | 97.3 |
Other receivables and current assets | $ 610.8 | $ 722.1 |
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- Definition Amount, after accumulated amortization and accumulated impairment loss, of asset recognized from cost incurred to obtain or fulfill contract with customer; classified as current. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after allowance for credit loss, of right to consideration in exchange for good or service transferred to customer when right is conditioned on something other than passage of time, classified as current. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled within one year or normal operating cycle, if longer. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Amount excluding accrued interest, after allowance for credit loss, of net investment in sales-type and direct financing leases, classified as current. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amortized cost, after allowance for credit loss, of financing receivable classified as current. Excludes net investment in lease. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of current assets classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of other miscellaneous assets expected to be realized or consumed within one year or operating cycle, if longer. No definition available.
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- Definition Carrying amount as of the balance sheet date of value added taxes due either from customers arising from sales on credit terms, or as previously overpaid to tax authorities. For classified balance sheets, represents the current amount receivable, that is amounts expected to be collected within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Leases (Maturity Analysis of Lease Liabilities and Minimum Payments Due) (Details) - USD ($) $ in Millions |
Sep. 30, 2024 |
Sep. 30, 2023 |
---|---|---|
Maturity Analysis of Operating Lease Liabilities | ||
2025 | $ 118.9 | |
2026 | 91.1 | |
2027 | 67.0 | |
2028 | 57.2 | |
2029 | 48.9 | |
Thereafter | 695.9 | |
Total undiscounted lease payments | 1,079.0 | |
Imputed interest | (300.8) | |
Present value of lease liability recognized on balance sheet | $ 778.2 | $ 725.8 |
X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payment for operating lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payments for operating lease, due after fifth rolling twelve months following latest statement of financial position date. For interim and annual periods when interim periods are reported on rolling approach, from latest statement of financial position date. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payments for operating lease, due in fifth rolling twelve months following latest statement of financial position date. For interim and annual periods when interim periods are reported on a rolling approach, from latest statement of financial position date. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of lessee's undiscounted obligation for lease payments for operating lease, due in fourth rolling twelve months following latest statement of financial position date. For interim and annual periods when interim periods are reported on a rolling approach, from latest statement of financial position date. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payments for operating lease, due in third rolling twelve months following latest statement of financial position date. For interim and annual periods when interim periods are reported on a rolling approach, from latest statement of financial position date. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of lessee's undiscounted obligation for lease payments for operating lease, due in second rolling twelve months following latest statement of financial position date. For interim and annual periods when interim periods are reported on a rolling approach, from latest statement of financial position date. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of lessee's undiscounted obligation for lease payments for operating lease, due in next rolling twelve months following latest statement of financial position date. For interim and annual periods when interim periods are reported on a rolling approach, from latest statement of financial position date. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of lessee's undiscounted obligation for lease payments in excess of discounted obligation for lease payments for operating lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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X | ||||||||||
- Definition Present value of lessee's discounted obligation for lease payments from operating lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Retirement Benefits (Change in Plan Assets) (Details) - Defined Benefit Pension Plan - USD ($) $ in Millions |
12 Months Ended | |
---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
|
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Company contributions | $ 34.7 | |
U.S. | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Fair value at beginning of year | 2,299.0 | $ 2,404.0 |
Actual return on plan assets | 404.4 | 61.4 |
Settlements | (3.6) | (4.7) |
Company contributions | 7.3 | 8.4 |
Participant contributions | 0.0 | 0.0 |
Benefits paid | (174.1) | (170.1) |
Currency translation and other | 0.0 | 0.0 |
Fair Value at End of Year | 2,533.0 | 2,299.0 |
Funded Status at End of Year | (80.1) | (49.8) |
International | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Fair value at beginning of year | 1,134.0 | 1,122.0 |
Actual return on plan assets | 154.5 | (52.7) |
Settlements | (8.6) | (3.4) |
Company contributions | 27.4 | 24.2 |
Participant contributions | 0.7 | 0.8 |
Benefits paid | (55.8) | (52.8) |
Currency translation and other | 122.3 | 95.9 |
Fair Value at End of Year | 1,374.5 | 1,134.0 |
Funded Status at End of Year | $ 35.8 | $ (28.4) |
X | ||||||||||
- Definition Amount of increase (decrease) in plan assets of defined benefit plan from actual return (loss) determined by change in fair value of plan assets adjusted for contributions, benefit payments, and other expenses. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
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X | ||||||||||
- Definition Amount of contribution received by defined benefit plan from employer which increases plan assets. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of funded (unfunded) status of defined benefit plan, measured as difference between fair value of plan assets and benefit obligation. Includes, but is not limited to, overfunded (underfunded) status. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of payment to participant under defined benefit plan which decreases plan assets. For pension plan, payment includes, but is not limited to, pension benefits and death benefits. For other postretirement plan, payment includes, but is not limited to, prescription drug benefits, health care benefits, life insurance benefits, and legal, educational and advisory services. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of contributions received by defined benefit plan from participant which increases plan assets. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Amount of foreign currency translation gain (loss) which increases (decreases) plan assets of defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of payment, which decreases plan assets of defined benefit plan, for irrevocable action relieving primary responsibility for benefit obligation and eliminating risk for obligation and assets used to effect settlement. Transaction constituting settlement includes, but is not limited to, making lump-sum cash payment to participant in exchange for their rights to receive specified benefits and purchasing nonparticipating annuity contract. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Revenue Recognition (Nature of Goods and Services) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
Change in Accounting Estimate [Line Items] | |||
Unfavorable impact on operating income | $ (4,466.1) | $ (2,494.6) | $ (2,338.8) |
On-site gases, large volume | Minimum | |||
Change in Accounting Estimate [Line Items] | |||
Sales contract term | 15 years | ||
On-site gases, large volume | Maximum | |||
Change in Accounting Estimate [Line Items] | |||
Sales contract term | 20 years | ||
On-site gases, small quantity | Minimum | |||
Change in Accounting Estimate [Line Items] | |||
Sales contract term | 10 years | ||
On-site gases, small quantity | Maximum | |||
Change in Accounting Estimate [Line Items] | |||
Sales contract term | 15 years | ||
Merchant gases | Maximum | |||
Change in Accounting Estimate [Line Items] | |||
Sales contract term | 5 years | ||
Contracts accounted for under percentage of completion | |||
Change in Accounting Estimate [Line Items] | |||
Unfavorable impact on operating income | $ 175.0 | $ 115.0 | $ 30.0 |
X | ||||||||||
- Definition The sales contract term for revenue from contract with customer No definition available.
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Details
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Variable Interest Entities- World Energy (Details) $ in Millions |
1 Months Ended | ||
---|---|---|---|
Nov. 30, 2023
renewal
|
Sep. 30, 2024
USD ($)
|
Sep. 30, 2023
USD ($)
|
|
Variable Interest Entity [Line Items] | |||
Financing receivables | $ 1,220.2 | $ 817.2 | |
World Energy, LLC | Variable Interest Entity, Not Primary Beneficiary | |||
Variable Interest Entity [Line Items] | |||
Term of project agreement | 15 years | ||
Number of renewal terms of project agreement | renewal | 2 | ||
Project agreement, renewal term | 5 years | ||
Maximum loss exposure, amount | 2,000.0 | ||
World Energy, LLC | Variable Interest Entity, Not Primary Beneficiary | Financing Receivable | |||
Variable Interest Entity [Line Items] | |||
Maximum loss exposure, amount | 300.0 | ||
World Energy, LLC | Variable Interest Entity, Not Primary Beneficiary | Sustainable Aviation Fuel Facility | |||
Variable Interest Entity [Line Items] | |||
Maximum loss exposure, amount | 1,500.0 | ||
World Energy, LLC | Variable Interest Entity, Not Primary Beneficiary | Property, plant and equipment | Sustainable Aviation Fuel Facility | |||
Variable Interest Entity [Line Items] | |||
Maximum loss exposure, amount | 1,200.0 | ||
World Energy, LLC | Variable Interest Entity, Not Primary Beneficiary | Other noncurrent assets | Sustainable Aviation Fuel Facility | |||
Variable Interest Entity [Line Items] | |||
Maximum loss exposure, amount | 330.0 | ||
World Energy, LLC | Variable Interest Entity, Not Primary Beneficiary | Purchase Commitment | |||
Variable Interest Entity [Line Items] | |||
Maximum loss exposure, amount | $ 215.0 |
X | ||||||||||
- Definition Number Of Renewal Terms Of Project Agreement No definition available.
|
X | ||||||||||
- Definition Project Agreement, Renewal Term No definition available.
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- Definition Term Of Project Agreement No definition available.
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- Definition Amortized cost, after allowance for credit loss, of financing receivable. Excludes financing receivable covered under loss sharing agreement and net investment in lease. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The reporting entity's maximum amount of exposure to loss as a result of its involvement with the Variable Interest Entity (VIE). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Goodwill (Schedule of Accumulated Impairment Losses) (Details) - USD ($) $ in Millions |
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
---|---|---|---|
Goodwill [Line Items] | |||
Goodwill, gross | $ 1,199.8 | $ 1,158.4 | $ 1,096.0 |
Goodwill, net | 905.1 | 861.7 | 823.0 |
Americas | |||
Goodwill [Line Items] | |||
Accumulated impairment losses | (294.7) | (296.7) | (273.0) |
Goodwill, net | $ 146.3 | $ 146.6 | $ 143.2 |
X | ||||||||||
- Definition Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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X | ||||||||||
- Definition Amount, before accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of accumulated impairment loss for asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Plant and Equipment, Net (Narrative) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
Property, Plant and Equipment [Abstract] | |||
Depreciation expense | $ 1,419.6 | $ 1,325.8 | $ 1,302.7 |
X | ||||||||||
- Definition The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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Equity Affiliates (Table of Summarized Financial Information of Equity Affiliates) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
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Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
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Schedule of Equity Method Investments [Line Items] | |||
Total current assets | $ 6,363.0 | $ 5,200.5 | |
Total noncurrent assets | 33,211.6 | 26,802.0 | |
Total current liabilities | 4,179.6 | 3,895.8 | |
Total noncurrent liabilities | 16,721.3 | 12,446.4 | |
Sales and other income | 12,100.6 | 12,600.0 | $ 12,698.6 |
Operating income | 4,466.1 | 2,494.6 | 2,338.8 |
Net income | 3,862.4 | 2,338.6 | 2,266.5 |
Equity Method Investment, Nonconsolidated Investee or Group of Investees | |||
Schedule of Equity Method Investments [Line Items] | |||
Total current assets | 3,197.2 | 3,097.1 | |
Total noncurrent assets | 14,719.8 | 14,468.2 | |
Total current liabilities | 1,138.3 | 1,145.7 | |
Total noncurrent liabilities | 11,690.4 | 11,934.0 | |
Sales and other income | 5,666.4 | 5,192.9 | 4,124.4 |
Financing revenue | 1,128.6 | 1,011.3 | 674.6 |
Gross profit | 2,722.0 | 2,465.5 | 1,894.0 |
Operating income | 2,149.3 | 1,847.4 | 1,320.1 |
Net income | $ 1,209.5 | $ 1,062.9 | $ 895.1 |
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- Definition Amount of asset recognized for present right to economic benefit, classified as current. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of interest income from net investment in direct financing lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of obligation due after one year or beyond the normal operating cycle, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Fair Value Measurements (Schedule of the Carrying Values and Fair Values of Financial Instruments) (Details) - USD ($) $ in Millions |
Sep. 30, 2024 |
Sep. 30, 2023 |
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Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, including current portion carrying value | $ 14,144.4 | $ 10,046.3 |
Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, including current portion fair value | 13,897.3 | 9,173.5 |
Forward exchange contracts | Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 100.8 | 76.4 |
Derivative liabilities | 59.2 | 124.4 |
Forward exchange contracts | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 100.8 | 76.4 |
Derivative liabilities | 59.2 | 124.4 |
Interest rate management contracts | Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 41.8 | 317.7 |
Derivative liabilities | 41.4 | 87.0 |
Interest rate management contracts | Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 41.8 | 317.7 |
Derivative liabilities | $ 41.4 | $ 87.0 |
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- Definition Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The fair value amount of long-term debt whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Debt (Maturities of Long-term Debt) (Details) - USD ($) $ in Millions |
Sep. 30, 2024 |
Sep. 30, 2023 |
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Principal maturities of long-term debt | ||
2025 | $ 611.6 | |
2026 | 716.3 | |
2027 | 1,292.5 | |
2028 | 760.5 | |
2029 | 977.7 | |
Thereafter | 10,126.9 | |
Total | $ 14,485.5 | $ 10,292.5 |
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- Definition Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing after fifth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing in next fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing in fifth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing in fourth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing in third fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing in second fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Financial Instruments |
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Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financial Instruments | FINANCIAL INSTRUMENTS Currency Price Risk Management Our earnings, cash flows, and financial position are exposed to foreign currency risk from foreign currency-denominated transactions and net investments in foreign operations. It is our policy to seek to minimize our cash flow volatility from changes in currency exchange rates. This is accomplished by identifying and evaluating the risk that our cash flows will change in value due to changes in exchange rates and by executing strategies necessary to manage such exposures. Our objective is to maintain economically balanced currency risk management strategies that provide adequate downside protection. Forward Exchange Contracts We enter into forward exchange contracts to reduce the cash flow exposure to foreign currency fluctuations associated with highly anticipated cash flows and certain firm commitments, such as the purchase of plant and equipment. We also enter into forward exchange contracts to hedge the cash flow exposure on intercompany loans and third-party debt. This portfolio of forward exchange contracts consists primarily of Euros and U.S. Dollars. The maximum remaining term of any forward exchange contract currently outstanding and designated as a cash flow hedge at 30 September 2024 is 2.5 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 multiple 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:
The increase in the notional value of our forward exchange contracts that are not designated is primarily due to the origination of forward exchange contracts that offset other forward exchange contracts previously designated as cash flow hedges of intercompany loans. The hedged intercompany loans were repaid early. 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 €1,905.7 million ($2,121.9) at 30 September 2024 and €1,938.6 million ($2,049.7) at 30 September 2023. The designated foreign currency-denominated debt is presented within "Long-term debt" and "Current portion of 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 30 September 2024, 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:
(A)In May 2023, NGHC entered into floating-to-fixed interest rate swaps designed to hedge long-term variable rate debt facilities available under non-recourse project financing during the construction period of the NEOM Green Hydrogen Project. During the third quarter of fiscal year 2024, we discontinued cash flow hedge accounting for certain instruments that will remain de-designated until outstanding borrowings from the available financing are commensurate with the notional value of the instruments. The table below provides the amounts recorded on the consolidated balance sheets related to cumulative basis adjustments for fair value hedges:
The tables below summarize the fair value and balance sheet location of our outstanding derivatives.
Refer to Note 16, 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:
(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 tables below summarize the location and amounts recognized in income related to our cash flow and fair value hedging relationships by contract type:
The table below summarizes the location and amounts recognized in income related to our derivatives not designated as hedging instruments by contract type:
The amount of unrealized gains and losses related to cash flow hedges as of 30 September 2024 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 $47.3 and $94.2 as of 30 September 2024 and 2023, 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, Moody’s, or Fitch. The collateral that the counterparties would be required to post was $57.2 and $345.0 as of 30 September 2024 and 2023, respectively. No financial institution is required to post collateral at this time, as all have credit ratings at or above threshold.
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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Business and Asset Actions- Asset Actions (Details) - USD ($) $ in Millions |
12 Months Ended | |
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Sep. 30, 2023 |
Sep. 30, 2022 |
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Noncash charge associated with exit or disposal activities | $ 217.6 | $ 73.7 |
Non-controlling Interests | ||
Noncash charge associated with exit or disposal activities | $ 5.0 |
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- Definition Amount of other expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses associated with a discontinued operation or an asset retirement obligation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Revenue Recognition (Remaining Performance Obligations) (Details) $ in Billions |
Sep. 30, 2024
USD ($)
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Revenue from Contract with Customer [Abstract] | |
Transaction price allocated to remaining performance obligations | $ 26 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Percentage of remaining performance obligation | 50.00% |
Estimated timing of recognition of performance obligation | 5 years |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Percentage of remaining performance obligation | 50.00% |
Estimated timing of recognition of performance obligation |
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- Definition Amount of transaction price allocated to performance obligation that has not been recognized as revenue. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Period in which remaining performance obligation is expected to be recognized as revenue, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Percentage of remaining performance obligation to total remaining performance obligation not recognized as revenue. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Income Taxes (Deferred Tax Assets and Liabilities Included in Consolidated Financials) (Details) - USD ($) $ in Millions |
Sep. 30, 2024 |
Sep. 30, 2023 |
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Deferred Tax Assets | ||
Other noncurrent assets | $ 127.8 | $ 159.6 |
Deferred Tax Liabilities | ||
Deferred income taxes | 1,159.9 | 1,266.0 |
Net Deferred Income Tax Liability | $ 1,032.1 | $ 1,106.4 |
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- Definition Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, with jurisdictional netting. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences with jurisdictional netting. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences without jurisdictional netting. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Inventories |
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Inventories | INVENTORIES The components of inventories are as follows:
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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Commitments and Contingencies |
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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 for which it is reasonably possible, individually or in the aggregate, 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 (approximately $33 at 30 September 2024) 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 (approximately $33 at 30 September 2024) plus interest accrued thereon until final disposition of the proceedings. Additionally, during the third quarter of fiscal year 2024, we settled a dispute regarding energy management charges related to a severe winter weather storm that impacted the U.S. Gulf Coast in February 2021. As a result of the settlement, we recognized a gain of $7.7 that is reflected within "Other income (expense), net" on our consolidated income statements for the twelve months ended 30 September 2024. We collected the settlement in full in July 2024. 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 environmental laws relating to the designation of certain sites for investigation or remediation. Presently, there are 26 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 former manufacturing sites. We continually monitor these sites for which we have environmental exposure. Accruals for environmental loss contingencies are recorded when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. The consolidated balance sheets at 30 September 2024 and 30 September 2023 included an accrual of $79.1 and $64.5, 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 $79 to a reasonably possible upper exposure of $92 as of 30 September 2024. Actual costs to be incurred at identified sites in future periods may vary from the estimates, given inherent uncertainties in evaluating environmental exposures. Using reasonably possible alternative assumptions of the exposure level could result in an increase to the environmental accrual. Due to the inherent uncertainties related to environmental exposures, a significant increase to the reasonably possible upper exposure level could occur if a new site is designated, the scope of remediation is increased, a different remediation alternative is identified, or a significant increase in our proportionate share occurs. We do not expect that any sum we may have to pay in connection with environmental matters in excess of the amounts recorded or disclosed above would have a material adverse impact on our financial position or results of operations in any one year. Pace At 30 September 2024, $54.7 of the environmental accrual was related to the Pace facility. In 2006, we sold our Amines business, which included operations at Pace, Florida, and recognized a liability for retained environmental obligations associated with remediation activities at Pace. We are required by the Florida Department of Environmental Protection ("FDEP") and the United States Environmental Protection Agency ("USEPA") to continue our remediation efforts. We 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. In the first quarter of 2015, we entered into a consent order with the FDEP requiring us to continue our remediation efforts at the Pace facility and complete a cost review every five years. In the fourth quarter of fiscal year 2024, we completed an updated cost review of the environmental remediation status at the Pace facility. Based on our review, we expect ongoing activities to continue for an additional five years for an aggregate period of 30 years. Additionally, we increased our estimate of near-term spending for an improved groundwater recovery system and future annual costs due to higher inflation. As a result of these changes, we increased our environmental accrual for this site by $19.4 in continuing operations on the consolidated balance sheets and recognized a before-tax expense of $19.4 in results from discontinued operations. We have implemented many of the remedial corrective measures at the Pace facility required under the 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 better suited for groundwater remediation. 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 we completed additional field work during 2021 to support the design of an improved groundwater recovery system and well network. This network targets areas of higher contaminant concentration and avoids areas of high groundwater iron which has proven to be a significant operability issue for the project. In the fourth quarter of fiscal year 2024, we completed an updated cost review which resulted in a change in assumptions regarding future operating costs as discussed above. The costs we are incurring based on the fiscal year 2024 review are higher than our previous estimates. The design of the optimized recovery system was completed in 2024 with construction expected to begin in fiscal year 2025. In fiscal years 2025 and 2026, we expect to connect the additional groundwater recovery wells and ancillary equipment to the existing groundwater recovery system. Pasadena At 30 September 2024, $10.3 of the environmental accrual was related to a production facility site in Pasadena, Texas. During fiscal year 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. Asset Retirement Obligations Our asset retirement obligations are primarily associated with long-term on-site supply contracts under which we have built a facility on land owned by the customer and are obligated to remove the facility at the end of the contract term. The retirement of assets includes the contractually required removal of a long-lived asset from service and encompasses the sale, removal, abandonment, recycling, or disposal of the assets as required at the end of the contract term. These obligations are primarily reflected within "Other noncurrent liabilities" on the consolidated balance sheets. The timing and/or method of settlement of these obligations are conditional on a future event that may or may not be within our control. Changes to the carrying amount of our asset retirement obligations were as follows:
Warranties and Guarantees We do not expect that any sum we may have to pay in connection with warranties and guarantees will have a material adverse effect on our consolidated financial condition, liquidity, or results of operations. Warranties We, in the normal course of business operations, have issued product warranties related to equipment sales. Also, contracts often contain standard terms and conditions which typically include a warranty and indemnification to the buyer that the goods and services purchased do not infringe on third-party intellectual property rights. The provision for estimated future costs relating to warranties is not material to the consolidated financial statements. Guarantees To date, no equity contributions or payments have been made since the inception of the guarantees discussed below. The fair value of these guarantees is not material. We issued performance guarantees as a condition of project financing associated with the NEOM Green Hydrogen Project that would require us to pay up to approximately $0.9 billion in the event of nonperformance in our role as EPC contractor. Our exposure will decline over time before expiring in November 2028. Refer to Note 3, Variable Interest Entities, for additional information regarding the project. We also have a long-term sale of equipment contract with the JIGPC joint venture to engineer, procure, and construct the industrial gas facilities that will supply gases to Aramco. We provided bank guarantees to the joint venture to support our performance under the contract. As of 30 September 2024, our maximum potential payments were $244.5. Unconditional Purchase Obligations We are obligated to make future payments under unconditional purchase obligations as summarized below:
Approximately $8.8 billion of our unconditional purchase obligations relate to open purchase orders for plant and equipment, of which approximately $3 billion relates to the NEOM Green Hydrogen Project. Although open purchase orders are considered enforceable and legally binding, the terms generally allow us the option to reschedule, cancel, or otherwise modify based on our business needs. We have estimated the timing of these payments in the table above; however, timing of actual satisfaction of the obligations may vary. Approximately $6.2 billion of our unconditional purchase obligations relate to helium and rare gases. The majority of these obligations occur after fiscal year 2029. Helium purchases include crude feedstock supply to helium refining plants in North America as well as refined helium purchases from sources around the world. As a rare byproduct of natural gas production in the energy sector, these helium sourcing agreements are medium- to long-term and contain take-if-tendered provisions. The refined helium is distributed globally and sold as a merchant gas, primarily under medium-term requirements contracts. While contract terms in our helium sourcing contracts are generally longer than our customer sales contracts, helium is a rare gas used in applications with few or no substitutions because of its unique physical and chemical properties. Our unconditional purchase obligations also include commitments for power and natural gas supply as well as feedstock supply for numerous HyCO (hydrogen, carbon monoxide, and syngas) facilities. Our long-term sales contracts to customers are generally matched to the term of these obligations and provide recovery of price increases. As a result, we do not believe these purchase obligations would have a material effect on our financial condition or results of operations.
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- Definition The entire disclosure for commitments and contingencies. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Capital Stock (Preferred Stock Narrative) (Details) - $ / shares |
Sep. 30, 2024 |
Sep. 30, 2023 |
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Equity [Abstract] | ||
Preferred stock, shares authorized | 25,000,000 | |
Preferred stock, par value (in dollars per share) | $ 1 | |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
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- Definition Face amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Number of shares issued for nonredeemable preferred shares and preferred shares redeemable solely at option of issuer. Includes, but is not limited to, preferred shares issued, repurchased, and held as treasury shares. Excludes preferred shares classified as debt. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Income Taxes (Deferred Tax Assets for Certain Tax Credits) (Details) $ in Millions |
Sep. 30, 2024
USD ($)
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U.S. State | |
Tax Credit Carryforward [Line Items] | |
Tax credit carryforwards | $ 2.7 |
U.S. Federal | |
Tax Credit Carryforward [Line Items] | |
Tax credit carryforwards | 19.7 |
Foreign | |
Tax Credit Carryforward [Line Items] | |
Tax credit carryforwards | $ 18.1 |
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- Definition The amount of the tax credit carryforward, before tax effects, available to reduce future taxable income under enacted tax laws. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Consolidated Comprehensive Income Statements (Parenthetical) - USD ($) $ in Millions |
12 Months Ended | ||
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Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
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Statement of Comprehensive Income [Abstract] | |||
Tax effect on translation adjustments | $ (33.0) | $ (32.8) | $ 71.2 |
Tax effect on net gain (loss) on derivatives | 10.7 | 48.6 | (63.9) |
Tax effect on pension and postretirement benefits | 9.6 | (2.9) | (33.4) |
Tax effect on derivatives reclassification adjustments | (9.7) | (13.6) | 30.3 |
Tax effect on pension and postretirement benefits reclassification adjustments | $ 18.1 | $ 17.5 | $ 21.8 |
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- Definition Amount of tax expense (benefit), before reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, before reclassification, of tax expense (benefit) for gain (loss) from derivative instrument designated and qualifying as cash flow hedge included in assessment of hedge effectiveness. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of tax expense (benefit) for reclassification of gain (loss) from accumulated other comprehensive income (AOCI) for derivative instrument designated and qualifying as cash flow hedge included in assessment of hedge effectiveness. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, before reclassification adjustment, of tax (expense) benefit for (increase) decrease in accumulated other comprehensive income for defined benefit plan. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of tax (expense) benefit for reclassification adjustment from accumulated other comprehensive (income) loss of defined benefit plan. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Consolidated Statements of Equity (Parenthetical) - $ / shares |
12 Months Ended | ||
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Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
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Statement of Stockholders' Equity [Abstract] | |||
Dividends per share | $ 7.06 | $ 6.87 | $ 6.36 |
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- Definition Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Revenue Recognition |
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Revenue Recognition [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenue Recognition | REVENUE RECOGNITION Nature of Goods and Services The principal activities from which we generate sales from our contracts with customers are described below with their respective revenue recognition policies. For an overall summary of these policies and discussion on payment terms and presentation, refer to Note 1, Basis of Presentation and Major Accounting Policies. Regional Industrial Gases Our regional industrial gases businesses produce and sell atmospheric gases such as oxygen, nitrogen, and argon (primarily recovered by the cryogenic distillation of air) and process gases such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases. We distribute gases to our sale of gas customers through different supply modes depending on various factors including the customer's volume requirements and location. Our supply modes are as follows: •On-site Gases—Supply mode associated with customers who require large volumes of gases and have relatively constant demand. Gases are produced and supplied by large facilities that we construct or acquire on or near the customers’ facilities or by pipeline systems from centrally located production facilities. These arrangements are generally governed by 15- to 20-year sale of gas contracts. We also deliver smaller quantities of product through small on-site plants (cryogenic or non-cryogenic generators), typically via a 10- to 15-year sale of gas contract. The contracts within this supply mode generally contain fixed monthly charges and/or minimum purchase requirements with price escalation provisions that are typically based on external indices. Revenue associated with this supply mode is generally recognized over time during the period in which we deliver or make available the agreed upon quantity of goods. •Merchant Gases—Supply mode for liquid bulk and packaged gas products. Liquid bulk product is delivered in bulk in either liquid or gaseous form by tanker or tube trailer and is stored, usually in its liquid state, in equipment that we typically design and install at the customer’s site for vaporizing into a gaseous state as needed. Packaged gases customers receive small quantities of product delivered in either cylinders or dewars. Both liquid bulk and packaged gases sales do not contain minimum purchase requirements as they are governed by contracts and/or purchase orders that are based on the customer's requirements. These contracts contain stated terms that are generally five years or less. Performance obligations associated with this supply mode are satisfied at a point in time when the customer receives and obtains control of the product, which generally occurs upon delivery. The timing of revenue recognition for our regional industrial gases businesses is generally consistent with our right to invoice the customer. Variable components of consideration that may not be resolved within the month, such as the ability to earn an annual bonus or incur a penalty, are more relevant to on-site contracts and are considered constrained as they can be impacted by a single significant event such as a plant outage, which could occur at the end of a contract period. We consider contract modifications on an individual basis to determine appropriate accounting treatment. However, contract modifications are generally accounted for prospectively as they relate to distinct goods or services associated with future periods of performance. We mitigate energy and natural gas price risk contractually through pricing formulas, surcharges, and cost pass-through arrangements. Equipment We design and manufacture equipment for air separation, hydrocarbon recovery and purification, and liquid helium and liquid hydrogen transport and storage. The Corporate and other segment includes activity related to the sale of cryogenic and gas processing equipment. Through the end of fiscal year 2024, this segment also reflected sales of natural gas liquefaction equipment associated with the liquefied natural gas process technology and equipment business that was divested on 30 September 2024. Our sale of equipment contracts are generally comprised of a single performance obligation as the individual promised goods or services contained within the contracts are integrated with or dependent upon other goods or services in the contract for a single output to the customer. Revenue from our sale of equipment contracts is generally recognized over time as we have an enforceable right to payment for performance completed to date and our performance under the contract terms does not create an asset with alternative use. Otherwise, sale of equipment contracts are satisfied at the point in time the customer obtains control of the equipment, which is generally determined based on the shipping terms of the contract. For contracts recognized over time, we primarily recognize revenue using a cost incurred input method by which costs incurred to date relative to total estimated costs at completion are used to measure progress toward satisfying performance obligations. Costs incurred include those for materials, labor, and overhead and represent work contributing and proportionate to the transfer of control to the customer. Since our contracts are generally comprised of a single performance obligation, contract modifications are typically accounted for as part of the existing contract and are recognized as a cumulative adjustment for the inception-to-date effect of such change. In addition, changes in estimates on projects accounted for under the cost incurred input method are recognized as a cumulative adjustment for the inception-to-date effect of such change. We recorded changes to project estimates that unfavorably impacted operating income by approximately $175, $115, and $30 in fiscal years 2024, 2023, and 2022, respectively. Disaggregation of Revenue The tables below present our consolidated sales disaggregated by supply mode for each of our reportable segments. We believe this presentation best depicts the nature, timing, type of customer, and contract terms for our sales.
Interest income associated with financing and lease arrangements accounted for approximately 1% of our total consolidated sales in fiscal year 2024 and less than 1% of our total consolidated sales in fiscal years 2023 and 2022. Remaining Performance Obligations As of 30 September 2024, the transaction price allocated to remaining performance obligations is estimated to be approximately $26 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:
Contract assets and liabilities result from differences in timing of revenue recognition and customer invoicing. These balances are reported on the consolidated balance sheets on a contract-by-contract basis at the end of each reporting period. Contract assets primarily relate to our sale of equipment contracts for which revenue is recognized over time. These balances represent unbilled revenue, which occurs when revenue recognized under the measure of progress exceeds the amount invoiced to our customers. Our ability to invoice the customer for contract asset balances is not only based on the passage of time, but also the achievement of certain contractual milestones. Contract fulfillment costs primarily include deferred costs related to sale of equipment projects that cannot be inventoried and for which we expect to recognize revenue upon transfer of control at project completion or costs related to fulfilling a specific anticipated contract. Costs to obtain a contract, or "contract acquisition costs," are capitalized at the time we establish a contract with the customer. We elected to apply the practical expedient to expense these costs as they are incurred if the amortization period of the asset that would have otherwise been recognized is one year or less. Our contract acquisition costs capitalized as of 30 September 2024 and 2023 were not material. Contract liabilities include advanced payments or right to consideration prior to performance under the contract and are recognized as revenue when or as we perform. Increases to our contract liabilities primarily relate to new sale of equipment projects as balances associated with our sale of gas contracts are generally related to fixed charges and are relatively consistent period over period. During the fiscal year ended 30 September 2024, we recognized sales of approximately $335.0 associated with sale of equipment contracts that were included within our contract liabilities balance as of 30 September 2023. Advanced payments from our customers do not represent a significant financing component as these payments are intended for purposes other than financing, such as to meet working capital demands or to protect us from our customer failing to meet its obligations under the terms of the contract.
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- 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. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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Basis of Presentation and Major Accounting Policies |
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Basis of Presentation and Major Accounting Policies | BASIS OF PRESENTATION AND MAJOR ACCOUNTING POLICIES As used in this report, unless the context indicates otherwise, the terms “we,” “our,” “us,” the “Company,” "Air Products," or “registrant” include our controlled subsidiaries and affiliates. About Air Products Air Products and Chemicals, Inc., a Delaware corporation originally founded in 1940, is a global industrial gases company that has built a reputation for its innovative culture, operational excellence, and commitment to safety and the environment. Focused on serving energy, environmental, and emerging markets, we are committed to generating a cleaner future by offering products and services that enable our customers to improve their environmental performance, product quality, and productivity. With sustainability at its core, our two-pillar growth strategy includes the optimization and growth of our core industrial gases business while developing, engineering, building, owning, and operating some of the world’s largest clean hydrogen projects that will advance the transition to low- and zero-carbon energy in the industrial and heavy-duty transportation sectors. Our regional industrial gases business provides essential gases, related equipment, and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing, medical, and food. Through our sale of equipment businesses, we also provide turbomachinery, membrane systems, and cryogenic containers globally. We manage our operations, assess performance, and report earnings under five reportable segments: Americas, Asia, Europe, Middle East and India, and Corporate and other. The discussion that follows is based on these operations. Refer to Note 26, Business Segment and Geographic Information, for additional information. Our results of operations for the periods presented in this Annual Report on Form 10-K include the results of our former liquefied natural gas process technology and equipment business, which we sold to Honeywell International Inc. on 30 September 2024. This divestiture, which does not qualify for presentation as a discontinued operation, reflects our commitment to our industrial gases and clean hydrogen growth strategy. Refer to Note 4, Gain on Sale of Business, for additional information. Basis of Presentation The accompanying consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of Air Products and Chemicals, Inc. and those of its controlled subsidiaries. The notes that follow are an integral part of our consolidated financial statements. These notes, unless otherwise indicated, are presented on a continuing operations basis. Intercompany transactions and balances are eliminated in consolidation. Certain prior year information has been reclassified to conform to the fiscal year 2024 presentation. Discontinued Operations The results of operations and cash flows for our discontinued operations have been segregated from the results of continuing operations and segment results. The comprehensive income related to discontinued operations has not been segregated and is included in the consolidated comprehensive income statements. There were no assets and liabilities presented as discontinued operations on our consolidated balance sheets. Refer to Note 8, Discontinued Operations, for additional information. Estimates and Assumptions Preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect amounts reported in the consolidated financial statements and the accompanying notes. Actual results could differ from those estimates. Consolidation Principles We consolidate all entities we control under either the voting interest model, which generally applies when we hold a majority of the voting interest of an entity, or the variable interest model, which applies to arrangements for which we are the primary beneficiary of a variable interest entity ("VIE"). For consolidated subsidiaries in which our ownership is less than 100%, the outside shareholders’ interests are reflected as non-controlling interests on our consolidated financial statements. We are considered the primary beneficiary of a VIE when we have both the power to direct the activities that most significantly impact the economic performance of the VIE and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. We are the primary beneficiary of the NEOM Green Hydrogen Company and consolidate the joint venture within our Middle East and India segment. For additional information, refer to Note 3, Variable Interest Entities. We are not the primary beneficiary of any other material VIEs. We account for a VIE for which we exercise significant influence but are not the primary beneficiary, such as the Jazan Integrated Gasification and Power Company joint venture, as an equity method investment. For additional information on this joint venture, refer to Note 10, Equity Affiliates. Revenue Recognition We recognize revenue when or as performance obligations are satisfied, which occurs when control is transferred to the customer. We determine the transaction price of our contracts based on the amount of consideration to which we expect to be entitled to receive in exchange for the goods or services provided. Our contracts within the scope of revenue guidance do not contain payment terms that include a significant financing component. Consistent with industry business practice, we generally do not accept sales returns or provide return allowances. Our sale of gas contracts are either accounted for over time during the period in which we deliver or make available the agreed upon quantity of goods or at a point in time when the customer receives and obtains control of the product, which generally occurs upon delivery. We generally recognize revenue from our sale of gas contracts based on the right to invoice practical expedient. Our sale of equipment contracts are generally comprised of a single performance obligation as the individual promised goods or services contained within the contracts are integrated with or dependent upon other goods or services in the contract for a single output to the customer. Revenue from our sale of equipment contracts is generally recognized over time as we have an enforceable right to payment for performance completed to date and our performance under the contract terms does not create an asset with alternative use. We recognize these contracts using a cost incurred input method by which costs incurred to date relative to total estimated costs at completion are used to measure progress toward satisfying performance obligations. Amounts billed for shipping and handling fees are classified as sales in the consolidated income statements. Shipping and handling activities for our sale of equipment contracts may be performed after the customer obtains control of the promised goods. In these cases, we have elected to apply the practical expedient to account for shipping and handling as activities to fulfill the promise to transfer the goods. Amounts billed for sales and use taxes, value-added taxes, and certain excise and other specific transactional taxes imposed on revenue-producing transactions are presented on a net basis and excluded from sales in the consolidated income statements. For additional information, refer to Note 7, Revenue Recognition. Cost of Sales Cost of sales predominantly represents the cost of tangible products sold. These costs include labor, raw materials, plant engineering, power, depreciation, production supplies and materials packaging costs, and maintenance costs. Costs incurred for shipping and handling are also included in cost of sales. Depreciation Depreciation is recorded using the straight-line method, which deducts equal amounts of the cost of each asset from earnings every year over its expected economic useful life. The principal lives for major classes of plant and equipment are summarized in Note 11, Plant and Equipment, net. Selling and Administrative Expense The principal components of selling and administrative expense are costs related to compensation, administrative functions, and professional fees. Postemployment Benefits We provide ongoing benefit arrangements that provide nonretirement postemployment benefits such as severance and outplacement services to involuntarily terminated employees. We record a liability for these benefits when we determine it is probable that the benefits will be paid in an amount that can be reasonably estimated. These criteria are met when management, with the appropriate level of authority, approves and commits to a termination plan that identifies impacted employees and their related benefits and is expected to be substantially completed within one year. We do not provide material one-time benefit arrangements. Fair Value Measurements We are required to measure certain assets and liabilities at fair value, either upon initial measurement or for subsequent accounting or reporting. For example, fair value is used in the initial measurement of assets and liabilities acquired in a business combination; on a recurring basis in the measurement of derivative financial instruments; and on a nonrecurring basis when long-lived assets are written down to fair value when held for sale or determined to be impaired. Refer to Note 16, Fair Value Measurements, and Note 18, Retirement Benefits, for information on the methods and assumptions used in our fair value measurements. Financial Instruments We address certain financial exposures through a controlled program of risk management that includes the use of derivative financial instruments. The types of derivative financial instruments permitted for such risk management programs are specified in policies set by management. Refer to Note 15, Financial Instruments, for further detail on the types and use of derivative instruments into which we enter. Major financial institutions are counterparties to all of these derivative contracts. We have established counterparty credit guidelines and generally enter into transactions with financial institutions of investment grade or better. Management believes the risk of incurring losses related to credit risk is remote, and any losses would be immaterial to the consolidated financial results, financial condition, or liquidity. We recognize derivatives on the balance sheet at fair value. On the date the derivative instrument is entered into, we generally designate the derivative as either (1) a hedge of a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability (cash flow hedge), (2) a hedge of a net investment in a foreign operation (net investment hedge), or (3) a hedge of the fair value of a recognized asset or liability (fair value hedge). The following details the accounting treatment of our cash flow, fair value, net investment, and non-designated hedges: •Changes in the fair value of a derivative that is designated as and meets the cash flow hedge criteria are recorded in accumulated other comprehensive loss ("AOCL") to the extent effective and then recognized in earnings when the hedged items affect earnings. •Changes in the fair value of a derivative that is designated as and meets all the required criteria for a fair value hedge, along with the gain or loss on the hedged asset or liability that is attributable to the hedged risk, are recorded in current period earnings. •Changes in the fair value of a derivative and foreign currency debt that are designated as and meet all the required criteria for a hedge of a net investment are recorded as translation adjustments in AOCL. •Changes in the fair value of a derivative that is not designated as a hedge are recorded immediately in earnings. We formally document the relationships between hedging instruments and hedged items, as well as our risk management objective and strategy for undertaking various hedge transactions. This process includes relating derivatives that are designated as fair value or cash flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. We also formally assess, at the inception of the hedge and on an ongoing basis, whether derivatives are highly effective in offsetting changes in fair values or cash flows of the hedged item. If it is determined that a derivative is not highly effective as a hedge, or if a derivative ceases to be a highly effective hedge, we will discontinue hedge accounting with respect to that derivative prospectively. Foreign Currency Since we do business in many foreign countries, fluctuations in currency exchange rates affect our financial position and results of operations. In most of our foreign operations, the local currency is considered the functional currency. Foreign subsidiaries translate their assets and liabilities into U.S. dollars at current exchange rates in effect as of the balance sheet date. The gains or losses that result from this process are shown as translation adjustments in AOCL in the equity section of the balance sheet. The revenue and expense accounts of foreign subsidiaries are translated into U.S. dollars at the average exchange rates that prevail during the period. Therefore, the U.S. dollar value of these items on the consolidated income statements fluctuates from period to period, depending on the value of the U.S. dollar against foreign currencies. Some transactions are made in currencies different from an entity’s functional currency. Gains and losses from these foreign currency transactions, and the impact of related hedges, are generally reflected in "Other income (expense), net" on our consolidated income statements as they occur and were not material for the periods presented. Foreign exchange gains and losses from the foreign currency remeasurement of balances associated with intercompany and third-party financing transactions, related income tax assets and liabilities, and the impact of related hedges are reflected within “Other non-operating income (expense), net" and were not material for the periods presented. In addition, foreign currency forward points and currency swap basis differences that are excluded from the assessment of hedge effectiveness of our cash flow hedges of intercompany loans (“excluded components”) are recorded within “Other non-operating income (expense), net" on a straight-line basis. Excluded components were expenses of $31.4, $25.1, and $23.2 in fiscal years 2024, 2023, and 2022, respectively. Government Assistance We receive various types of government assistance, primarily in the form of grants or refundable tax credits. Government assistance is recognized when there is reasonable assurance that we have complied with relevant conditions and the assistance will be received. Government assistance is recognized in the consolidated income statements on a systematic basis over the periods in which we recognize the related costs for which the government assistance is intended to compensate. Government assistance related to assets is included in the balance sheet as a reduction of the cost of the asset and results in reduced depreciation expense over the useful life of the asset. Government assistance that relates to expenses is recognized in the income statement as a reduction of the related expense or as a component of other income (expense), net. Government assistance did not have a material impact on our consolidated financial statements for the periods presented in this Annual Report on Form 10-K. Environmental Expenditures Accruals for environmental loss contingencies are recorded when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. Remediation costs are capitalized if the costs improve our property as compared with the condition of the property when originally constructed or acquired, or if the costs prevent environmental contamination from future operations. We expense environmental costs related to existing conditions resulting from past or current operations and from which no current or future benefit is discernible. The amounts charged to income from continuing operations related to environmental matters totaled $27.0, $24.9, and $22.3 in fiscal years 2024, 2023, and 2022, respectively. In addition, during the fourth quarter of fiscal year 2024, we recorded a pre-tax expense of $19.4 in results from discontinued operations to increase our existing liability for retained environmental remediation obligations associated with the sale of our former Amines business in September 2006. Refer to the "Pace" discussion within Note 19, Commitments and Contingencies, for additional information. The measurement of environmental liabilities is based on an evaluation of currently available information with respect to each individual site and considers factors such as existing technology, presently enacted laws and regulations, and prior experience in remediation of contaminated sites. An environmental liability related to cleanup of a contaminated site might include, for example, a provision for one or more of the following types of costs: site investigation and testing costs, remediation costs, post-remediation monitoring costs, natural resource damages, and outside legal fees. These liabilities include costs related to other potentially responsible parties to the extent that we have reason to believe such parties will not fully pay their proportionate share. They do not consider any claims for recoveries from insurance or other parties and are not discounted. As assessments and remediation progress at individual sites, the amount of projected cost is reviewed, and the liability is adjusted to reflect additional technical and legal information that becomes available. Management has an established process in place to identify and monitor our environmental exposures. An environmental accrual analysis is prepared and maintained that lists all environmental loss contingencies, even where an accrual has not been established. This analysis assists in monitoring our overall environmental exposure and serves as a tool to facilitate ongoing communication among our technical experts, environmental managers, environmental lawyers, and financial management to ensure that required accruals are recorded and potential exposures disclosed. Due to inherent uncertainties involved in evaluating environmental exposures, actual costs to be incurred at identified sites in future periods may vary from the estimates. Refer to Note 19, Commitments and Contingencies, for additional information on our environmental loss contingencies. The accruals for environmental liabilities are reflected in the consolidated balance sheets, primarily as part of other noncurrent liabilities. Litigation In the normal course of business, we are involved in legal proceedings. We accrue a liability for such matters when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. When only a range of possible loss can be established, the most probable amount in the range is accrued. If no amount within this range is a better estimate than any other amount within the range, the minimum amount in the range is accrued. The accrual for a litigation loss contingency includes estimates of potential damages and other directly related costs expected to be incurred. Refer to Note 19, Commitments and Contingencies, for additional information on our current legal proceedings. Share-Based Compensation We expense the grant-date fair value of our share-based awards over the vesting period during which employees perform related services. Expense recognition is accelerated for retirement-eligible individuals who would meet the requirements for vesting of awards upon their retirement. Refer to Note 21, Share-Based Compensation, for additional information regarding our awards, including the models and assumptions used to determine their grant-date fair value. Income Taxes We account for income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the tax effects of temporary differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to be recovered or settled. A principal temporary difference results from the excess of tax depreciation over book depreciation because accelerated methods of depreciation and shorter useful lives are used for income tax purposes. The cumulative impact of a change in tax rates or regulations is included in income tax expense in the period that includes the enactment date. We recognize deferred tax assets net of existing valuation allowances to the extent we believe that these assets are more likely than not to be realized considering all available evidence. A tax benefit for an uncertain tax position is recognized when it is more likely than not that the position will be sustained upon examination based on its technical merits. This position is measured as the largest amount of tax benefit that is greater than 50% likely of being realized. Interest and penalties related to unrecognized tax benefits are recognized as a component of income tax expense. We have elected as an accounting policy to account for Global Intangible Low Tax Income (“GILTI”) as a period cost when incurred. For additional information regarding our income taxes, refer to Note 24, Income Taxes. Other Non-Operating Income (Expense), net "Other non-operating income (expense), net" includes interest income associated with our cash and cash items and short-term investments, certain foreign currency remeasurements and impacts from the related hedging activities discussed in the Foreign Currency section above, and non-service cost components of net periodic pension and postretirement benefit cost. Our non-service costs primarily include interest cost, expected return on plan assets, amortization of actuarial gains and losses, and settlements. Additionally, during the third quarter of fiscal year 2024, we discontinued cash flow hedge accounting for certain interest rate swaps associated with financing for the NEOM Green Hydrogen Project. As a result of the de-designation, unrealized gains and losses are recorded to "Other non-operating income (expense), net" until the instruments re-qualify for cash flow hedge accounting. Refer to Note 3, Variable Interest Entities, and Note 15, Financial Instruments, for additional information. Cash and Cash Items "Cash and cash items" include cash, time deposits, and treasury securities acquired with an original maturity of three months or less. Short-term Investments "Short-term investments" include time deposits and treasury securities with original maturities greater than three months and less than one year. Credit Losses We are exposed to credit losses primarily through sales of products and services. When extending credit, we evaluate customer creditworthiness based on a combination of qualitative and quantitative factors that include, but are not limited to, the customer’s credit score from external providers, financial condition, and past payment experience. We assess allowances for credit losses on our trade receivable, lease receivable, and financing receivable portfolios. Allowances are evaluated by portfolio on a collective basis where similar characteristics exist. A provision for customer defaults is made on a general formula basis as the risk of some default is expected but cannot yet be associated with specific customers. The assessment of the likelihood of default is based on various factors, including the length of time the receivables are past due, historical experience, existing economic conditions, and forward-looking information. When we identify specific customers with known collectability issues, the assessment for credit losses is performed on an individual basis, considering current and forward-looking information of the customer. We also consider variables that may mitigate the inherent credit risk of a particular transaction, such as the estimated fair value of the collateral, whether by use or sale. The use of forward-looking information considers economic conditions that may affect the customers’ ability to pay. Although we historically have not experienced significant credit losses, our exposure to credit losses may increase if our customers are adversely affected by economic pressures or uncertainty associated with local or global economic recessions, or other customer-specific factors. We review our reserves for credit losses on a quarterly basis. Trade receivables comprise amounts owed to us through our operating activities and are presented net of allowances for credit losses. Changes to the carrying amount of the allowance for credit losses on trade receivables are summarized below:
In addition, our lease receivables and financing receivables are presented net of allowances for credit losses. As of 30 September 2024 and 2023, the allowance for credit losses on lease receivables and financing receivables were not material. Inventories We carry inventory that is comprised of finished goods, work-in-process, raw materials and supplies. Refer to Note 9, Inventories, for further detail. Inventories on our consolidated balance sheets are stated at the lower of cost or net realizable value. We determine the cost of all our inventories on a first-in, first-out basis ("FIFO"). We write down our inventories for estimated obsolescence or unmarketable inventory based upon assumptions about future demand and market conditions. Equity Method Investments We apply the equity method of accounting when we have the ability to exercise significant influence but do not control the operating and financial decisions of an investee, which generally applies when our ownership interest in common stock or in-substance common stock of the investee is between 20% and 50%. Under the equity method, we initially record our investment at cost and subsequently adjust the investment to recognize our share of net earnings or losses, distributions received, and other-than-temporary impairments. The carrying value of our equity method investments is reflected as "Investment in net assets of and advances to equity affiliates" on our consolidated balance sheets. We use the cumulative earnings approach for determining cash flow presentation of cash distributions received from equity method investees. Equity investments are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment may not be recoverable. Our share of the investee's net earnings is primarily presented net of income taxes within “Equity affiliates’ income" on our consolidated income statements. Profits or losses related to intra-entity sales with our equity method investees are eliminated consistent with our ownership percentage in the entity until realized by the investee through a transaction with a third party. In addition, “Equity affiliates’ income” includes interest income from shareholder loans viewed as in-substance common stock. Plant and Equipment, net Plant and equipment, net is stated at cost less accumulated depreciation. Construction costs, labor, and applicable overhead related to installations are capitalized. Expenditures for additions and improvements that extend the lives or increase the capacity of plant assets are capitalized. The costs of maintenance and repairs of plant and equipment are expensed as incurred. Fully depreciated assets are retained in the gross plant and equipment and accumulated depreciation accounts until they are removed from service. In the case of disposals, assets and related accumulated depreciation are removed from the accounts, and the net amounts, less proceeds from disposal, are included in income. Refer to Note 11, Plant and Equipment, net, for further detail. Computer Software We capitalize costs incurred to purchase or develop software for internal use. Capitalized costs include purchased computer software packages, payments to vendors/consultants for development and implementation or modification to a purchased package to meet our requirements, payroll and related costs for employees directly involved in development, and interest incurred while software is being developed. Capitalized costs are reflected in "Plant and equipment, net" on the consolidated balance sheets and are depreciated over the estimated useful life of the software, generally a period of three to five years. We capitalize costs incurred with the implementation of a cloud computing arrangement that is a service contract, consistent with our policy for software developed or obtained for internal use. However, the capitalized costs are reflected in "Other noncurrent assets" on our consolidated balance sheets and expensed over the term of the related hosting arrangement. Leases as Lessee As lessee, we recognize a right-of-use ("ROU") asset and lease liability on the balance sheet for all leases with terms in excess of 12 months. We evaluate whether an arrangement contains a lease at inception by determining whether there is an identifiable asset, we obtain substantially all the economic benefits from that asset, and we direct how and for what purpose the asset is used during the term of the arrangement. We apply a practical expedient to exclude arrangements with initial terms of 12 months or less from our balance sheet. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. Since our leases generally do not provide an implicit discount rate, we use our incremental borrowing rates based on the information available at the commencement date in determining the present value of lease payments. To determine the incremental borrowing rate, we consider our unsecured borrowings and published market rates, and then adjust those rates to assume full collateralization and to factor in the individual lease term, geography, and payment structure. Our lease term includes periods covered by options to extend or terminate the lease when it is reasonably certain that we will exercise an option to extend or not exercise an option to terminate. Lease payments consider our practical expedient to combine amounts for lease and related non-lease components for all classes of underlying assets in which we are lessee. Fixed payments and payments associated with escalation clauses based on an index are included in the ROU asset and lease liability at commencement. Variable lease payments are excluded from the ROU assets and lease liabilities and are recognized in the period in which the obligation for those payments is incurred. Our variable lease payments primarily include the impact from escalation clauses that are not fixed or based on an index. Prepaid lease payments are included in the recognition of ROU assets. Our lease agreements do not contain any material lease incentives, residual value guarantees or restrictions or covenants. Leases as Lessor Certain contracts associated with facilities that are built to provide product to a specific customer are accounted for as containing embedded leases. Our lease receivables are primarily long-term in nature and relate to sales-type leases on certain on-site assets for which payments are collected over the contract term. Revenue representing interest income from the financing component of the lease receivable is reflected as sales over the life of the contract. In cases for which operating lease treatment is appropriate, there is no difference in revenue recognition over the life of the contract as compared to accounting for the contract under a sale of gas agreement. These contracts qualify for a practical expedient available to lessors to combine the lease and non-lease components and account for the combined component in accordance with the accounting treatment for the predominant component. We elected to apply this practical expedient and have accounted for the combined component as product sales under the revenue standard as we control the operations and maintenance of the assets that provide the supply of gas to our customers. There have been no new arrangements that qualified as a lease for which we are the lessor in fiscal year 2024. Financing Receivables Some of our acquisitions include terms that provide the seller with both the right to receive all output from the acquired asset for an agreed upon term as well as the right to reacquire the asset at a future date. In these instances, we evaluate the contract terms to determine whether we have obtained control of the underlying asset, or the transaction qualifies as a financing arrangement. For transactions that qualify as financing arrangements, we record our investment as a financing receivable, net of any allowances for credit losses, on our consolidated balance sheets. We then recognize a portion of the payments received as a reduction to the financing receivable. Related interest income is presented within “Sales” on our consolidated income statements with revenue received to operate the plant. Accrued interest is presented within trade receivables, net and was not material as of 30 September 2024 and 2023. Impairment of Long-Lived Assets Long-lived assets are grouped for impairment testing at the lowest level for which there are identifiable cash flows that are largely independent of the cash flows of other assets and liabilities. Long-lived assets are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. We assess recoverability by comparing the carrying amount of the asset group to estimated undiscounted future cash flows expected to be generated by the asset group. If an asset group is considered impaired, the impairment loss to be recognized is measured as the amount by which the asset group’s carrying amount exceeds its fair value. Long-lived assets meeting the held for sale criteria are reported at the lower of carrying amount or fair value less cost to sell. Asset Retirement Obligations The fair value of a liability for an asset retirement obligation is recognized in the period in which it is incurred. The fair value of the liability is measured using discounted estimated cash flows and is adjusted to its present value in subsequent periods as accretion expense is recorded. The corresponding asset retirement costs are capitalized as part of the carrying amount of the related long-lived asset and depreciated over the asset’s useful life. Our asset retirement obligations are primarily associated with on-site long-term supply contracts under which we have built a facility on land owned by the customer and are obligated to remove the facility at the end of the contract term. Refer to Note 19, Commitments and Contingencies, for further detail. Goodwill Business combinations are accounted for using the acquisition method. The purchase price is allocated to the assets acquired and liabilities assumed based on their estimated fair values. Any excess purchase price (plus the fair value of any noncontrolling interest and previously held equity interest in the acquiree) over the fair market value of the net assets acquired, including identified intangibles, is recorded as goodwill. Preliminary purchase price allocations are made at the date of acquisition and finalized when information about facts and circumstances that existed as of the acquisition date needed to finalize underlying estimates is obtained or when we determine that such information is not obtainable, within a maximum measurement period of one year. Goodwill is subject to impairment testing at least annually. In addition, goodwill is tested more frequently if a change in circumstances or the occurrence of events indicates that potential impairment exists. Refer to Note 12, Goodwill, for further detail. Intangible Assets Intangible assets with determinable lives primarily consist of customer relationships, purchased patents and technology, and certain land use rights. The cost of intangible assets with determinable lives is amortized on a straight-line basis over the estimated period of economic benefit. No residual value is estimated for these intangible assets. Indefinite-lived intangible assets consist of trade names and trademarks. Indefinite-lived intangibles are subject to impairment testing at least annually. In addition, intangible assets are tested more frequently if a change in circumstances or the occurrence of events indicates that potential impairment exists. Customer relationships are generally amortized over periods of five to 25 years. Purchased patents and technology and other finite-lived intangibles are generally amortized over periods of five to 15 years. Other intangibles includes certain land use rights, which are generally amortized over a period of 50 years. Amortizable lives are adjusted whenever there is a change in the estimated period of economic benefit. Refer to Note 13, Intangible Assets, for further detail. Retirement Benefits Our retirement benefit plans are discussed in Note 18, Retirement Benefits. The cost of benefits we contribute to defined contribution plans is recognized in the year earned. The cost of benefits under our defined benefit and other post-retirement plans is generally recognized over the employees’ service period. We use actuarial methods and assumptions in the valuation of defined benefit obligations and the determination of expense. Differences between actual and expected results or changes in the value of obligations and plan assets are recognized systematically over subsequent periods.
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- References No definition available.
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- Definition The entire disclosure for the basis of presentation and significant accounting policies concepts. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). Accounting policies describe all significant accounting policies of the reporting entity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Supplemental Information (Other Noncurrent Assets) (Details) - USD ($) $ in Millions |
Sep. 30, 2024 |
Sep. 30, 2023 |
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Disclosure Text Block Supplement [Abstract] | ||
World Energy deferred project costs | $ 329.4 | $ 202.9 |
Pension benefits | 200.0 | 120.0 |
Deferred tax assets | 127.8 | 159.6 |
Prepaid tax | 41.0 | 22.2 |
Investments other than equity method | 67.1 | 66.9 |
Deferred financing fees | 4.6 | 58.8 |
Derivative instruments | 48.7 | 320.6 |
Other | 352.9 | 278.9 |
Other noncurrent assets | $ 1,171.5 | $ 1,229.9 |
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- Definition Amount of deferred cost, excluding capitalized cost related to contract with customer; classified as noncurrent. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount, before accumulated amortization, of debt issuance costs. Includes, but is not limited to, legal, accounting, underwriting, printing, and registration costs. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, with jurisdictional netting. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of asset, recognized in statement of financial position, for overfunded defined benefit pension and other postretirement plans. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled after one year or the normal operating cycle, if longer. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Carrying amount due after one year of the balance sheet date (or one operating cycle, if longer) from tax authorities as of the balance sheet date representing refunds of overpayments or recoveries based on agreed-upon resolutions of disputes. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of other miscellaneous assets expected to be realized or consumed after one year or normal operating cycle, if longer. No definition available.
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- Definition Amount of noncurrent assets classified as other. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of long-term investments classified as other. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Leases (Narrative) (Details) - USD ($) |
3 Months Ended | 12 Months Ended | ||
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Sep. 30, 2024 |
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2022 |
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Lessee, Lease, Description [Line Items] | ||||
Operating lease expense | $ 122,400,000 | $ 109,900,000 | $ 105,300,000 | |
Use of cash for payments on operating leases | 154,600,000 | 337,800,000 | 128,000,000.0 | |
Noncash ROU asset additions | 159,000,000 | 150,000,000 | $ 252,000,000 | |
Sales-type lease, residual value of leased asset | $ 0 | $ 0 | ||
Variable Interest Entity, Primary Beneficiary | Land | NEOM Green Hydrogen Company | ||||
Lessee, Lease, Description [Line Items] | ||||
Use of cash for payments on operating leases | $ 209,000,000 | $ 209,000,000 |
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of operating lease expense. Excludes sublease income. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of cash outflow from operating lease, excluding payments to bring another asset to condition and location necessary for its intended use. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of increase in right-of-use asset obtained in exchange for operating lease liability. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of residual asset covered by residual value guarantee under sales-type lease. Excludes guarantee considered to be lease payments for lessor. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Retirement Benefits (Summary of Changes in Pension Plan Assets Fair Value Classified as Level 3) (Details) - Defined Benefit Pension Plan - Level 3 - USD ($) $ in Millions |
12 Months Ended | |
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Sep. 30, 2024 |
Sep. 30, 2023 |
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Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Fair value at beginning of year | $ 260.0 | $ 209.0 |
Purchases, sales, and settlements, net | (12.4) | 30.8 |
Actual return on plan assets held at end of year | 53.8 | 20.2 |
Fair Value at End of Year | 301.4 | 260.0 |
Insurance Contracts | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Fair value at beginning of year | 165.8 | 155.5 |
Purchases, sales, and settlements, net | (4.9) | (3.7) |
Actual return on plan assets held at end of year | 26.9 | 14.0 |
Fair Value at End of Year | 187.8 | 165.8 |
Fixed Income Pooled Funds | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Fair value at beginning of year | 94.2 | 53.5 |
Purchases, sales, and settlements, net | (7.5) | 34.5 |
Actual return on plan assets held at end of year | 26.9 | 6.2 |
Fair Value at End of Year | $ 113.6 | $ 94.2 |
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- Definition Amount, measured using unobservable inputs, of increase (decrease) in plan assets of defined benefit plan from actual return (loss) on assets still held. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
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- Definition Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount, measured using unobservable input, of increase (decrease) in plan asset of defined benefit plan from purchase, sale and settlement of trade associated with underlying investment. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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