Air Products and Chemicals (APD) 10-Q 6 Feb 25 2025 Q1 Quarterly report Financial data

Cover

Cover	3 Months Ended
	Dec. 31, 2024 shares
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2024
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	222,475,666
Entity Central Index Key	0000002969
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1
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

Consolidated Income Statements

Consolidated Income Statements (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Income Statement [Abstract]
Sales	$ 2,931.5	$ 2,997.4
Cost of sales	2,016.5	2,067.2
Selling and administrative expense	242.4	238.4
Research and development expense	22	25.7
Shareholder activism costs	29.9	0
Other income (expense), net	22.9	0.8
Operating Income	643.6	666.9
Equity affiliates' income	150.6	158.4
Interest expense	42.6	53.5
Other non-operating income (expense), net	38.9	(14.8)
Income Before Taxes	790.5	757
Income tax provision	140.7	135.4
Net Income	649.8	621.6
Net Income Attributable to Noncontrolling Interests	32.4	12.3
Net Income Attributable to Air Products	$ 617.4	$ 609.3
Per Share Data (U.S. Dollars per share)
Basic earnings per share attributable to Air Products (in dollars per share)	$ 2.77	$ 2.74
Diluted earnings per share attributable to Air Products (in dollars per share)	$ 2.77	$ 2.73
Weighted Average Common Shares (in millions)
Basic (in shares)	222.7	222.5
Diluted (in shares)	222.9	222.8

Consolidated Comprehensive Inco

Consolidated Comprehensive Income Statements (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Statement of Comprehensive Income [Abstract]
Net Income	$ 649.8	$ 621.6
Other Comprehensive (Loss) Income, net of tax:
Translation adjustments, net of tax	(624)	380.6
Net gain (loss) on derivatives, net of tax	65.7	(161.1)
Reclassification adjustments:
Derivatives, net of tax	91.9	(42.2)
Pension and postretirement benefits, net of tax	11	13.7
Net current period other comprehensive income (loss)	(455.4)	191
Comprehensive Income	194.4	812.6
Net Income Attributable to Noncontrolling Interests	32.4	12.3
Other Comprehensive Income (Loss) Attributable to Noncontrolling Interests	103.1	(138.1)
Comprehensive Income Attributable to Air Products	$ 58.9	$ 938.4

Consolidated Comprehensive In_2

Consolidated Comprehensive Income Statements (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Statement of Comprehensive Income [Abstract]
Tax effect on translation adjustments	$ 46.2	$ (29.8)
Tax effect on net gain (loss) on derivatives	(22)	5.5
Tax effect on derivatives reclassification adjustments	27.8	(12.8)
Tax effect on pension and postretirement benefits reclassification adjustments	$ 3.3	$ 4.2

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions		Dec. 31, 2024	Sep. 30, 2024
Current Assets
Cash and cash items		$ 1,845.5	$ 2,979.7
Short-term investments		117.5	5
Trade receivables, net		1,807.4	1,821.6
Inventories		739	766
Prepaid expenses		201.8	179.9
Other receivables and current assets		640.5	610.8
Total Current Assets		5,351.7	6,363
Investment in net assets of and advances to equity affiliates		4,772.1	4,792.5
Plant and equipment, at cost		41,097.9	39,950.9
Less: accumulated depreciation		16,367.1	16,580
Plant and equipment, net		24,730.8	23,370.9
Goodwill, net		866.5	905.1
Intangible assets, net		287.5	311.6
Operating lease right-of-use assets, net		1,017.4	1,047.7
Noncurrent lease receivables		335.7	392.1
Financing receivables		1,245.4	1,220.2
Other noncurrent assets		1,410.1	1,171.5
Total Noncurrent Assets		34,665.5	33,211.6
Total Assets	[1]	40,017.2	39,574.6
Current Liabilities
Payables and accrued liabilities		3,023.7	2,926.2
Accrued income taxes		586.1	558.5
Short-term borrowings		68.2	83.5
Current portion of long-term debt		1,131.4	611.4
Total Current Liabilities		4,809.4	4,179.6
Noncurrent operating lease liabilities		655.1	677.9
Other noncurrent liabilities		1,348.1	1,350.5
Deferred income taxes		1,195	1,159.9
Total Noncurrent Liabilities		16,469.1	16,721.3
Total Liabilities	[1]	21,278.5	20,900.9
Commitments and Contingencies - See Note 10
Air Products Shareholders’ Equity
Common stock (par value $1 per share; issued 2025 and 2024 - 249,455,584 shares)		249.4	249.4
Capital in excess of par value		1,260.9	1,253.2
Retained earnings		19,767.3	19,545.7
Accumulated other comprehensive loss		(2,586.2)	(2,027.7)
Treasury stock, at cost (2025 - 26,979,918 shares; 2024 - 27,083,166 shares)		(1,999.1)	(1,984.1)
Total Air Products Shareholders’ Equity		16,692.3	17,036.5
Noncontrolling interests	[1]	2,046.4	1,637.2
Total Equity		18,738.7	18,673.7
Total Liabilities and Equity		40,017.2	39,574.6
Nonrelated Party
Current Liabilities
Long-term debt		13,170.5	13,428.6
Related Party
Current Assets
Trade receivables, net		185	120
Current Liabilities
Current portion of long-term debt		192.3	200
Long-term debt		$ 100.4	$ 104.4
[1] Includes balances associated with a consolidated variable interest entity ("VIE"), including amounts reflected in "Total Assets" that can only be used to settle obligations of the VIE of $5,692.4 and $4,393.9 as of 31 December 2024 and 30 September 2024, respectively, as well as liabilities of the VIE reflected within "Total Liabilities" for which creditors do not have recourse to the general credit of Air Products of $3,994.1 and $3,473.4 as of 31 December 2024 and 30 September 2024, respectively. Refer to Note 3, Variable Interest Entities , for additional information regarding the NEOM Green Hydrogen Company joint venture.

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions		Dec. 31, 2024	Sep. 30, 2024
Common stock, par value (in dollars per share)		$ 1	$ 1
Common stock, issued (in shares)		249,455,584	249,455,584
Treasury stock, at cost (in shares)		26,979,918	27,083,166
Total Assets	[1]	$ 40,017.2	$ 39,574.6
Total Liabilities	[1]	21,278.5	20,900.9
Variable Interest Entity, Primary Beneficiary | NEOM Green Hydrogen Company
Total Assets		5,692.4	4,393.9
Total Liabilities		$ 3,994.1	$ 3,473.4
[1] Includes balances associated with a consolidated variable interest entity ("VIE"), including amounts reflected in "Total Assets" that can only be used to settle obligations of the VIE of $5,692.4 and $4,393.9 as of 31 December 2024 and 30 September 2024, respectively, as well as liabilities of the VIE reflected within "Total Liabilities" for which creditors do not have recourse to the general credit of Air Products of $3,994.1 and $3,473.4 as of 31 December 2024 and 30 September 2024, respectively. Refer to Note 3, Variable Interest Entities , for additional information regarding the NEOM Green Hydrogen Company joint venture.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Operating Activities
Net Income	$ 649.8	$ 621.6
Less: Net income attributable to noncontrolling interests	32.4	12.3
Net income attributable to Air Products	617.4	609.3
Adjustments to reconcile income to cash provided by operating activities:
Depreciation and amortization	366.8	349.2
Deferred income taxes	(6.3)	13.5
Undistributed earnings of equity method investments	(48.4)	(41.5)
Gain on sale of assets and investments	(10.1)	(1.4)
Share-based compensation	16.4	13.8
Noncurrent lease receivables	15	20
Other adjustments	(122.6)	33.3
Working capital changes that provided (used) cash, excluding effects of acquisitions:
Trade receivables	(47.8)	11.8
Inventories	6.4	(48.6)
Other receivables	9	(64.5)
Payables and accrued liabilities	30.5	(268.5)
Other working capital	(14.6)	0.2
Cash Provided by Operating Activities	811.7	626.6
Investing Activities
Additions to plant and equipment, including long-term deposits	(2,117.6)	(1,445.5)
Investment in financing receivables	(15.3)	(301.8)
Proceeds from sale of assets and investments	34.4	4.2
Purchases of investments	(117.6)	(55.5)
Proceeds from investments	5	120.1
Other investing activities	29	12.9
Cash Used for Investing Activities	(2,182.1)	(1,665.6)
Financing Activities
Long-term debt proceeds	459.2	810.4
Payments on long-term debt	(12.1)	(54.8)
(Decrease) Increase in commercial paper and short-term borrowings	(21.5)	1,020.9
Dividends paid to shareholders	(393.6)	(388.9)
Proceeds from stock option exercises	1.1	5.3
Investments by noncontrolling interests	280.9	34.5
Other financing activities	(39.8)	(64.6)
Cash Provided by Financing Activities	274.2	1,362.8
Effect of Exchange Rate Changes on Cash	(38)	21.8
(Decrease) Increase in cash and cash items	(1,134.2)	345.6
Cash and cash items – Beginning of year	2,979.7	1,617
Cash and Cash Items – End of Period	$ 1,845.5	$ 1,962.6

Consolidated Statements of Equi

Consolidated Statements of Equity (Unaudited) - USD ($) $ in Millions	Total	Common Stock	Capital in Excess of Par Value	Retained Earnings	AOCL	[1]	Treasury Stock	Air Products Shareholders' Equity	Non- controlling Interests
Beginning 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]
Net income	621.6			609.3				609.3	12.3
Other comprehensive income (loss)	191				329.1			329.1	(138.1)
Dividends on common stock	(389)			(389)				(389)
Share-based compensation	13.8		13.8					13.8
Issuance of treasury shares for stock option and award plans	(3.2)		(4.4)				1.2	(3.2)
Investments by noncontrolling interests	34.5								34.5
Other equity transactions	0.1		0.1					0.1
Ending balance at Dec. 31, 2023	16,129.1	249.4	1,200	17,510	(2,120.3)		(1,966.1)	14,873	1,256.1
Beginning 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]
Net income	649.8			617.4				617.4	32.4
Other comprehensive income (loss)	(455.4)				(558.5)			(558.5)	103.1
Dividends on common stock	(393.8)			(393.8)				(393.8)
Distributions to noncontrolling interests	(1.4)								(1.4)
Share-based compensation	14.3		14.3					14.3
Issuance of treasury shares for stock option and award plans	(21.8)		(6.8)				(15)	(21.8)
Investments by noncontrolling interests	281								281
Purchase of noncontrolling interests	(5.9)								(5.9)
Other equity transactions	(1.8)		0.2	(2)				(1.8)
Ending balance at Dec. 31, 2024	$ 18,738.7	$ 249.4	$ 1,260.9	$ 19,767.3	$ (2,586.2)		$ (1,999.1)	$ 16,692.3	$ 2,046.4
[1] (A) Accumulated other comprehensive loss

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Statement of Stockholders' Equity [Abstract]
Dividends per share (in dollars per share)	$ 1.77	$ 1.75

Basis of Presentation and Major

Basis of Presentation and Major Accounting Policies	3 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
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. Basis of Presentation The interim consolidated financial statements of Air Products and Chemicals, Inc. and its subsidiaries included herein have been prepared by us, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC"). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles ("GAAP") have been condensed or omitted pursuant to such rules and regulations. In our opinion, the accompanying statements reflect adjustments necessary to fairly present the financial position, results of operations, and cash flows for those periods indicated and contain adequate disclosures to make the information presented not misleading. Adjustments included herein are of a normal, recurring nature unless otherwise disclosed in the notes to the interim consolidated financial statements. To fully understand the basis of presentation, the interim consolidated financial statements and related notes included herein should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended 30 September 2024 (the " 2024 Form 10-K "), which was filed with the SEC on 21 November 2024. Results of operations for interim periods are not necessarily indicative of the results of operations for a full year. Major Accounting Policies Refer to our 2024 Form 10-K for a description of major accounting policies. There have been no significant changes to these accounting policies during the first three months of fiscal year 2025.

New Accounting Guidance

New Accounting Guidance	3 Months Ended
	Dec. 31, 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. Disaggregation of Income Statement Expenses In November 2024, the FASB issued ASU 2024-03, “Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses”, which requires additional disclosures of certain costs and expenses, including purchases of inventory, employee compensation, depreciation, intangible asset amortization, as well as selling expenses in the notes to the financial statements. In January 2025, the FASB clarified that the update will be effective in our Annual Report on Form 10-K for the fiscal year ending 30 September 2028 as well as interim periods thereafter, although early adoption is permitted. The amendments should be applied either prospectively after the effective date or retrospectively to any or all periods presented. We are evaluating the impact this update will have on our disclosures.

Variable Interest Entities

Variable Interest Entities	3 Months Ended
	Dec. 31, 2024
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. Additionally, 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. Under the project financing discussed below, 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 13 . 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 project financing that is non-recourse to Air Products 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 credit facilities that are non-recourse to Air Products, which total approximately $500 and are primarily for NGHC's working capital needs. Total principal borrowings were $3.8 billion and $3.3 billion as of 31 December 2024 and 30 September 2024, respectively. These balances include short-term borrowings of $60.4 and $51.6, respectively, from a 5.70% variable rate Saudi Riyal facility. The remaining borrowings include the long-term facilities that are reflected net of unamortized discounts and debt issuance costs within "Long-term debt" on our consolidated balance sheets. 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. During the first quarter of fiscal year 2025, we recognized an unrealized gain of $38.8 ($10.3 attributable to Air Products after tax). The amount of the unrealized gain attributable to our noncontrolling partners was $25.2. Refer to Note 7, Financial Instruments , for additional information. NGHC Balance Sheet The table below summarizes 31 December 30 September 2024 2024 Assets Cash and cash items $24.0 $34.5 Trade receivables, net 15.4 6.7 Prepaid expenses 30.7 31.2 Other receivables and current assets 126.3 120.6 Total Current Assets $196.4 $193.0 Plant and equipment, net 5,015.4 3,929.9 Operating lease right-of-use assets, net 226.2 233.9 Other noncurrent assets 254.4 37.1 Total Noncurrent Assets $5,496.0 $4,200.9 Total Assets $5,692.4 $4,393.9 Liabilities Payables and accrued liabilities $358.3 $308.4 Accrued income taxes 0.8 2.0 Short-term borrowings 60.4 51.6 Total Current Liabilities $419.5 $362.0 Long-term debt 3,499.4 3,053.3 Noncurrent operating lease liabilities 19.7 24.5 Other noncurrent liabilities 35.4 30.4 Deferred income taxes 20.1 3.2 Total Noncurrent Liabilities $3,574.6 $3,111.4 Total Liabilities $3,994.1 $3,473.4 Equity Accumulated other comprehensive income $61.8 $13.8 Noncontrolling interests 1,255.3 937.6 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 $2,909.0 and $2,871.2 as of 31 December 2024 and 30 September 2024, 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 31 December 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. This 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 31 December 2024, our maximum exposure to loss is approximately $2.1 billion. This primarily includes project-related spending of approximately $1.5 billion, of which $1.2 billion is capitalized within “Plant and equipment, net” and $336 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 trade receivables and accrued interest. The financing receivable is currently on non-accrual status as World Energy made no interest payments, and therefore we recorded no interest income, during the first quarter of fiscal year 2025.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue Recognition	REVENUE RECOGNITION The majority of our revenue is generated from our sale of gas customers within the regional industrial gases segments. We distribute gases through either our on-site or merchant supply mode depending on various factors, including the customer's volume requirements and location. We also design and manufacture equipment for air separation, hydrocarbon recovery and purification, and liquid helium and liquid hydrogen transport and storage. The Corporate and other segment serves our sale of equipment customers. Disaggregation of Revenue The tables below present our consolidated sales disaggregated by supply mode for each of our reportable segments for the first three months of fiscal years 2025 and 2024. We believe this presentation best depicts the nature, timing, type of customer, and contract terms for our sales. Three Months Ended 31 December 2024 Americas Asia Europe Middle East Corporate Total % On-site $713.1 $529.3 $228.3 $17.6 $— $1,488.3 51 % Merchant 574.5 287.8 468.9 15.2 — 1,346.4 46 % Sale of equipment — — — — 96.8 96.8 3 % Total $1,287.6 $817.1 $697.2 $32.8 $96.8 $2,931.5 100 % Three Months Ended 31 December 2023 Americas Asia Europe Middle East Corporate Total % On-site $714.1 $503.2 $259.2 $17.5 $— $1,494.0 50 % Merchant 538.0 290.6 472.0 17.9 — 1,318.5 44 % Sale of equipment — — — — 184.9 184.9 6 % Total $1,252.1 $793.8 $731.2 $35.4 $184.9 $2,997.4 100 % Interest income associated with financing and lease arrangements accounted for approximately 1% of our total consolidated sales during the three months ended 31 December 2024 and 2023. Remaining Performance Obligations As of 31 December 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: 31 December 30 September Balance Sheet Location 2024 2024 Assets Contract assets – current Other receivables and current assets $100.1 $76.2 Contract fulfillment costs – current Other receivables and current assets 96.9 103.7 Liabilities Contract liabilities – current Payables and accrued liabilities $202.8 $240.0 Contract liabilities – noncurrent Other noncurrent liabilities 283.2 290.0 During the first three months of fiscal year 2025, we recognized sales of approximately $55 associated with sale of equipment contracts that were included within our current contract liabilities as of 30 September 2024.

Inventories

Inventories	3 Months Ended
	Dec. 31, 2024
Inventory Disclosure [Abstract]
Inventories	INVENTORIES The components of inventories are as follows: 31 December 30 September 2024 2024 Finished goods $189.8 $210.2 Work in process 47.9 42.2 Raw materials, supplies, and other 501.3 513.6 Inventories $739.0 $766.0

Goodwill

Goodwill	3 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	GOODWILL Changes to the carrying amount of consolidated goodwill by segment for the three months ended 31 December 2024 are as follows: Americas Asia Europe Middle East and India Corporate and other Total Goodwill, net as of 30 September 2024 $146.3 $174.7 $534.3 $15.8 $34.0 $905.1 Currency translation (4.2) (4.4) (29.7) — (0.3) (38.6) Goodwill, net as of 31 December 2024 $142.1 $170.3 $504.6 $15.8 $33.7 $866.5 31 December 30 September 2024 2024 Goodwill, gross $1,131.5 $1,199.8 Accumulated impairment losses (A) (265.0) (294.7) Goodwill, net $866.5 $905.1 (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.

Financial Instruments

Financial Instruments	3 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments	FINANCIAL INSTRUMENTS Currency Price Risk Management Our earnings, cash flows, and financial position are exposed to foreign currency risk from foreign currency-denominated transactions and net investments in foreign operations. It is our policy to seek to minimize our cash flow volatility from changes in currency exchange rates. This is accomplished by identifying and evaluating the risk that our cash flows will change in value due to changes in exchange rates and by executing strategies necessary to manage such exposures. Our objective is to maintain economically balanced currency risk management strategies that provide adequate downside protection. Forward Exchange Contracts We enter into forward exchange contracts to reduce the cash flow exposure to foreign currency fluctuations associated with highly anticipated cash flows and certain firm commitments, such as the purchase of plant and equipment. We also enter into forward exchange contracts to hedge the cash flow exposure on intercompany loans and third-party debt. This portfolio of forward exchange contracts consists primarily of Euros and U.S. Dollars. The maximum remaining term of any forward exchange contract currently outstanding and designated as a cash flow hedge at 31 December 2024 is 2.9 years. Forward exchange contracts are also used to hedge the value of investments in certain foreign subsidiaries and affiliates by creating a liability in a currency in which we have a net equity position. The primary currency pair in this portfolio of forward exchange contracts is Euros and U.S. Dollars. 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: 31 December 2024 30 September 2024 US$ Years US$ Years Forward Exchange Contracts: Cash flow hedges $3,685.3 0.5 $4,003.2 0.6 Net investment hedges 850.6 2.2 911.4 2.5 Not designated 1,333.7 0.3 1,880.0 0.3 Total Forward Exchange Contracts $5,869.6 0.7 $6,794.6 0.8 We also use foreign currency-denominated debt to hedge the foreign currency exposures of our net investment in certain foreign subsidiaries. The designated foreign currency-denominated debt and related accrued interest was €1,927.1 million ($2,004.5) at 31 December 2024 and €1,905.7 million ($2,121.9) at 30 September 2024. 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 31 December 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 31 December 2024 30 September 2024 US$ Average Average Years US$ Average Average Years Interest rate swaps $800.0 SOFR 1.64 % 2.7 $800.0 SOFR 1.64 % 3.0 Interest rate swaps (cash flow hedge) (A) $2,372.2 2.72 % SOFR 21.0 $2,159.3 2.72 % SOFR 21.2 Interest rate swaps (not designated) (A) $506.7 3.27 % SOFR 20.2 $461.4 3.27 % SOFR 20.5 Cross currency interest rate swaps $— — % — % 0.0 $16.7 5.39 % 3.64 % 0.2 Cross currency interest rate swaps $381.3 4.97 % 2.84 % 1.8 $410.6 4.96 % 2.80 % 1.9 Cross currency interest rate swaps $— — % — % 0.0 $34.7 5.39 % 3.64 % 0.2 (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 sheet related to cumulative basis adjustments for fair value hedges: Carrying amounts of hedged item Cumulative hedging adjustment, included in carrying amount 31 December 30 September 31 December 30 September Balance Sheet Location 2024 2024 2024 2024 Current portion of long-term debt $544.4 $— ($5.2) $— Long-term debt $1,502.3 $2,057.1 ($42.3) ($36.6) The table below summarizes the fair value and balance sheet location of our outstanding derivatives: Balance Sheet Location 31 December 30 September Balance Sheet Location 31 December 30 September 2024 2024 2024 2024 Derivatives Designated as Hedging Instruments: Forward exchange contracts Other receivables and current assets $59.5 $74.5 Payables and accrued liabilities $143.6 $21.6 Interest rate management contracts Other receivables and current assets 4.8 1.2 Payables and accrued liabilities 5.2 1.2 Forward exchange contracts Other noncurrent assets 22.3 9.6 Other noncurrent liabilities 10.7 15.6 Interest rate management contracts Other noncurrent assets 224.9 34.3 Other noncurrent liabilities 43.1 40.2 Total Derivatives Designated as Hedging Instruments $311.5 $119.6 $202.6 $78.6 Derivatives Not Designated as Hedging Instruments: Forward exchange contracts Other receivables and current assets $15.8 $16.5 Payables and accrued liabilities $13.4 $21.8 Interest rate management contracts Other receivables and current assets — 1.7 Payables and accrued liabilities — — Forward exchange contracts Other noncurrent assets 0.4 0.2 Other noncurrent liabilities — 0.2 Interest rate management contracts Other noncurrent assets 41.6 4.6 Other noncurrent liabilities — — Total Derivatives Not Designated as Hedging Instruments $57.8 $23.0 $13.4 $22.0 Total Derivatives $369.3 $142.6 $216.0 $100.6 Refer to Note 8, Fair Value Measurements , which defines fair value, describes the method for measuring fair value, and provides additional disclosures regarding fair value measurements. The tables below summarize gains (losses) recognized in other comprehensive income during the period related to our net investment and cash flow hedging relationships: Three Months Ended 31 December 2024 2023 Net Investment Hedging Relationships Forward exchange contracts $53.9 ($31.8) Foreign currency debt 140.4 (89.9) Cross currency interest rate swaps 0.4 (1.9) Total Amount Recognized in OCI 194.7 (123.6) Tax effects (47.5) 30.1 Net Amount Recognized in OCI $147.2 ($93.5) Three Months Ended 31 December 2024 2023 Derivatives in Cash Flow Hedging Relationships Forward exchange contracts ($177.8) $115.1 Forward exchange contracts, excluded components (1.5) (9.0) Other (A) 223.0 (261.7) Total Amount Recognized in OCI 43.7 (155.6) Tax effects 22.0 (5.5) Net Amount Recognized in OCI $65.7 ($161.1) (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 Three Months Ended 31 December Sales Cost of Sales Interest Expense Other Non-Operating Income (Expense), Net 2024 2023 2024 2023 2024 2023 2024 2023 Total presented in consolidated income statements that includes effects of hedging below $2,931.5 $2,997.4 $2,016.5 $2,067.2 $42.6 $53.5 $38.9 ($14.8) (Gain) Loss Effects of Cash Flow Hedging: Forward Exchange Contracts: Amount reclassified from OCI into income $0.2 $0.3 $0.9 $1.3 $— $— $129.3 ($74.9) Amount excluded from effectiveness testing recognized in earnings based on amortization approach — — — — — — 6.1 5.7 Other: Amount reclassified from OCI into income — — — — 0.5 1.3 (17.3) 11.3 Total (Gain) Loss Reclassified from OCI to Income 0.2 0.3 0.9 1.3 0.5 1.3 118.1 (57.9) Tax effects — (0.1) (0.1) (0.3) (0.2) (0.5) (27.5) 13.7 Net (Gain) Loss Reclassified from OCI to Income $0.2 $0.2 $0.8 $1.0 $0.3 $0.8 $90.6 ($44.2) (Gain) Loss Effects of Fair Value Hedging: Other: Hedged items $— $— $— $— ($10.9) $26.1 $— $— Derivatives designated as hedging instruments — — — — 10.9 (26.1) — — Total (Gain) Loss Recognized in Income $— $— $— $— $— $— $— $— The tables below summarize the location and amounts recognized in income related to our derivatives not designated as hedging instruments by contract type: Three Months Ended 31 December Other Income (Expense), Net Other Non-Operating Income (Expense), Net 2024 2023 2024 2023 The Effects of Derivatives Not Designated as Hedging Instruments: Forward exchange contracts ($3.9) $3.2 ($1.9) ($1.2) De-designated interest rate swaps — — (38.8) — Other — — (1.7) 0.8 Total (Gain) Loss Recognized in Income ($3.9) $3.2 ($42.4) ($0.4) The amount of unrealized gains and losses related to cash flow hedges as of 31 December 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 $61.9 and $47.3 as of 31 December 2024 and 30 September 2024, 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 $293.1 and $57.2 as of 31 December 2024 and 30 September 2024, respectively. No financial institution is required to post collateral at this time, as all have credit ratings at or above threshold.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Dec. 31, 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 7, Financial Instruments , for a description of derivative instruments, including details related to the balance sheet line classifications. Long-term Debt, Including Related Party The fair value of our debt is based on estimates using standard pricing models that consider the value of future cash flows as of the balance sheet date, discounted to a present value using discount factors that match both the time to maturity and currency of the underlying instruments. These standard valuation models utilize observable market data such as interest rate yield curves and currency spot rates; therefore, the fair value of our debt is classified as a Level 2 measurement. The carrying values and fair values of financial instruments were as follows: 31 December 2024 30 September 2024 Carrying Value Fair Value Carrying Value Fair Value Assets Derivatives Forward exchange contracts $98.0 $98.0 $100.8 $100.8 Interest rate management contracts 271.3 271.3 41.8 41.8 Liabilities Derivatives Forward exchange contracts $167.7 $167.7 $59.2 $59.2 Interest rate management contracts 48.3 48.3 41.4 41.4 Long-term debt, including current portion and related party 14,402.3 13,900.1 14,144.4 13,897.3 The carrying amounts reported on the consolidated balance sheets for cash and cash items, short-term investments, trade receivables, payables and accrued liabilities, accrued income taxes, and short-term borrowings approximate fair value due to the short-term nature of these instruments. Accordingly, these items have been excluded from the above table. The table below summarizes assets and liabilities on the consolidated balance sheets that are measured at fair value on a recurring basis: 31 December 2024 30 September 2024 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets at Fair Value Derivatives Forward exchange contracts $98.0 $— $98.0 $— $100.8 $— $100.8 $— Interest rate management contracts 271.3 — 271.3 — 41.8 — 41.8 — Total Assets at Fair Value $369.3 $— $369.3 $— $142.6 $— $142.6 $— Liabilities at Fair Value Derivatives Forward exchange contracts $167.7 $— $167.7 $— $59.2 $— $59.2 $— Interest rate management contracts 48.3 — 48.3 — 41.4 — 41.4 — Total Liabilities at Fair Value $216.0 $— $216.0 $— $100.6 $— $100.6 $—

Retirement Benefits

Retirement Benefits	3 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Retirement Benefits	RETIREMENT BENEFITS The components of net periodic cost for our defined benefit pension plans for the three months ended 31 December 2024 and 2023 were as follows: Pension Benefits 2024 2023 Three Months Ended 31 December U.S. International Total U.S. International Total Service cost $2.3 $2.9 $5.2 $2.4 $2.8 $5.2 Non-service cost: Interest cost 29.9 13.9 43.8 33.7 14.8 48.5 Expected return on plan assets (33.2) (14.7) (47.9) (30.0) (11.6) (41.6) Prior service cost amortization 0.3 0.2 0.5 0.3 0.2 0.5 Actuarial loss amortization 11.7 2.4 14.1 14.3 3.2 17.5 Other — 0.1 0.1 — 0.1 0.1 Net Periodic Cost $11.0 $4.8 $15.8 $20.7 $9.5 $30.2 Our service costs are primarily included within "Cost of sales" and "Selling and administrative expense" on our consolidated income statements. The amount of service costs capitalized in the first three months of fiscal years 2025 and 2024 were not material. The non-service related impacts are presented outside operating income within " Other non-operating income (expense), net. For the three months ended 31 December 2024 and 2023, our cash contributions to funded pension plans and benefit payments under unfunded pension plans were $8.2 and $12.0, respectively. Total contributions for fiscal year 2025 are expected to be approximately $30 to $40. During fiscal year 2024, total contributions were $34.7.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Litigation We are involved in various legal proceedings, including commercial, competition, environmental, intellectual property, regulatory, product liability, and insurance matters. We do not currently believe there are any legal proceedings 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 million (approximately $29 at 31 December 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 million (approximately $29 at 31 December 2024) plus interest accrued thereon until final disposition of the proceedings. 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), the 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 as 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. As of 31 December 2024 and 30 September 2024, the consolidated balance sheets included an accrual of $79.6 and $79.1, respectively, primarily as part of other noncurrent liabilities. These 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 31 December 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 these inherent uncertainties, a significant increase to the reasonably possible upper exposure level could occur if a new site is designated, the scope of remediation is increased, a different remediation alternative is identified, or a significant increase in our proportionate share occurs. We do not expect that any sum we may have to pay in connection with environmental matters in excess of the amounts recorded or disclosed above would have a material adverse impact on our financial position or results of operations in any one year. Pace At 31 December 2024, $54.5 of the environmental accrual was related to our facility in Pace, Florida. In 2006, we sold our Amines business, which included operations at the Pace facility and recognized a liability for retained environmental obligations associated with remediation activities at the facility. 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 fiscal year 2020, we completed an updated cost review of the environmental remediation status at the Pace facility and increased our environmental accrual for this site by $19 in continuing operations on the consolidated balance sheet and recognized a before-tax expense of $19 in results from discontinued operations. In fiscal year 2024, we completed our most recent cost review of the environmental remediation status at the Pace facility. Based on our review, we expect ongoing activities to continue for 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 in continuing operations on the consolidated balance sheets and recognized a before-tax expense of $19 in results from discontinued operations in fiscal year 2024. There have been no significant changes to the estimated exposure. 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 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 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. The design of the optimized recovery system was completed in fiscal year 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. 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. Pasadena At 31 December 2024, $10.2 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 impacted soils as required, investigating groundwater west of the former PUI facility, continuing post closure care for two closed RCRA surface impoundment units, and maintaining engineering controls. Additionally, we have conducted an interim corrective action to treat impacted soils as recommended in the TCEQ 2019 Annual Report. In 2012, we estimated the total exposure at this site to be $13. There have been no significant changes to the estimated exposure.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Dec. 31, 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 three months ended 31 December 2024, we granted market-based and time-based deferred stock units. Under all programs, the terms of the awards are fixed at the grant date. We issue shares from treasury stock upon the payout of deferred stock units and the exercise of stock options. As of 31 December 2024, there were 0.8 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: Three Months Ended 31 December 2024 2023 Before-tax share-based compensation cost $16.5 $13.6 Income tax benefit (4.0) (3.3) After-tax share-based compensation cost $12.5 $10.3 Before-tax share-based compensation cost is primarily included in "Selling and administrative expense" on our consolidated income statements. The amount of share-based compensation cost capitalized in the first three months of fiscal years 2025 and 2024 was not material. Deferred Stock Units During the three months ended 31 December 2024, we granted 78,770 market-based deferred stock units. The market-based deferred stock units are earned over the performance period beginning 1 October 2024 and ending 30 September 2027, conditioned on the level of our total shareholder return in relation to the S&P 500 Index over the three-year performance period. The market-based deferred stock units had an estimated grant-date fair value of $480.94 per unit, which was estimated using a Monte Carlo simulation model. The model utilizes multiple input variables that determine the probability of satisfying the market condition stipulated in the grant and calculates the fair value of the awards. We generally expense the grant-date fair value of these awards on a straight-line basis over the applicable vesting period. The calculation of the fair value of market-based deferred stock units used the following assumptions: Expected volatility 30.4 % Risk-free interest rate 4.1 % Expected dividend yield 2.1 % In addition, during the three months ended 31 December 2024, we granted 106,098 time-based deferred stock units at a weighted average grant-date fair value of $334.52.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Dec. 31, 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 for the three months ended 31 December 2024: Derivatives Foreign Pension and Total Balance at 30 September 2024 $27.2 ($1,545.3) ($509.6) ($2,027.7) Other comprehensive income (loss) before reclassifications 65.7 (624.0) — (558.3) Amounts reclassified from AOCL 91.9 — 11.0 102.9 Net current period other comprehensive income (loss) $157.6 ($624.0) $11.0 ($455.4) Amount attributable to noncontrolling interests 119.6 (16.5) — 103.1 Balance at 31 December 2024 $65.2 ($2,152.8) ($498.6) ($2,586.2) The table below summarizes the reclassifications out of AOCL and the affected line item on the consolidated income statements: Three Months Ended 31 December 2024 2023 Loss (Gain) on Cash Flow Hedges, net of tax Sales $0.2 $0.2 Cost of sales 0.8 1.0 Interest expense 0.3 0.8 Other non-operating income (expense), net 90.6 (44.2) Total Loss (Gain) on Cash Flow Hedges, net of tax $91.9 ($42.2) Pension and Postretirement Benefits, net of tax (A) $11.0 $13.7 (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 9, Retirement Benefits , for additional information.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE The table below details the computation of basic and diluted earnings per share ("EPS"): Three Months Ended 31 December 2024 2023 Numerator Net income attributable to Air Products $617.4 $609.3 Denominator (in millions) Weighted average common shares — Basic 222.7 222.5 Effect of dilutive securities Employee stock option and other award plans 0.2 0.3 Weighted average common shares — Diluted 222.9 222.8 Per Share Data (U.S. Dollars per share) Basic EPS attributable to Air Products $2.77 $2.74 Diluted EPS attributable to Air Products $2.77 $2.73

Supplemental Information

Supplemental Information	3 Months Ended
	Dec. 31, 2024
Disclosure Text Block Supplement [Abstract]
Supplemental Information	SUPPLEMENTAL INFORMATION Related Party Transactions We have related party sales to certain of our equity affiliates and joint venture partners as well as other income primarily from fees charged for use of Air Products' patents and technology. Sales to and other income from related parties totaled approximately $80 and $95 for the three months ended 31 December 2024 and 2023, 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 31 December 2024 and 30 September 2024, our consolidated balance sheets included related party trade receivables of approximately $185 and $120, respectively. Total debt owed to related parties was $292.7 and $304.4 as of 31 December 2024 and 30 September 2024, respectively, of which $192.3 and $200.0, respectively, was reflected within "Current portion of long-term debt" on our consolidated balance sheets. Our related party debt primarily includes a loan with our joint venture partner, Lu’An Clean Energy Company. Shareholder Activism Costs During the first quarter of fiscal year 2025, we incurred costs of $29.9 ($21.9 after tax) in connection with our response to a proxy contest. These costs, which are reflected on our consolidated income statement as “Shareholder activism costs”, include legal and other professional service fees as well as incremental proxy solicitation costs related to the 2025 Annual Meeting of Shareholders. As of 31 December 2024, $15.4 remained accrued within “Payables and accrued liabilities” on our consolidated balance sheet. Uzbekistan Asset Purchase 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 are reflected within "Financing receivables" on our consolidated balance sheets. Financing receivables associated with the Uzbekistan transaction were approximately $945 and $920 as of 31 December 2024 and 30 September 2024, respectively. Accrual for Business and Asset Actions We initiated a global cost reduction plan in 2023 that provides involuntarily separated employees with severance and other postemployment benefits per our ongoing benefit arrangements. Costs incurred in connection with the plan totaled $84.0 through fiscal year 2024 for approximately 1,100 eligible employees globally. These costs, which were not recorded in segment results, were reflected within “Business and asset actions” on our consolidated income statements in fiscal years 2023 and 2024. We did not record any costs related to the plan during the first quarter of fiscal year 2025. As of 30 September 2024, the liability for unpaid benefits reflected within "Payables and accrued liabilities" on our consolidated balance sheet was $34.0 and primarily related to employees identified in 2024. The table below reconciles this balance to the remaining liability as of 31 December 2024, the majority of which we expect to pay during the second quarter of fiscal year 2025. Amount accrued as of 30 September 2024 $34.0 Cash payments (10.4) Currency translation adjustment (1.3) Amount accrued as of 31 December 2024 $22.3 Changes in Estimates Changes in estimates on sale of equipment 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 revenue and cost estimates that unfavorably impacted operating income by approximately $28 and $30 during the first quarter of fiscal years 2025 and 2024, respectively. Income Taxes Our effective tax rate was 17.8% and 17.9% for the three months ended 31 December 2024 and 2023, respectively. Income tax payments, net of refunds, were $123.6 and $90.1 for the three months ended 31 December 2024 and 2023, respectively.

Business Segment Information

Business Segment Information	3 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Business Segment Information	BUSINESS SEGMENT INFORMATION We manage our operations, assess performance, and report 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. Summary by Business Segment Americas Asia Europe Middle East and India Corporate and other Total Three Months Ended 31 December 2024 Sales $1,287.6 $817.1 $697.2 $32.8 $96.8 $2,931.5 (A) Operating income (loss) 388.2 216.4 186.5 (0.6) (117.0) 673.5 (B) Depreciation and amortization 173.4 122.9 54.5 6.5 9.5 366.8 Equity affiliates' income 35.1 10.3 18.2 85.0 2.0 150.6 Three Months Ended 31 December 2023 Sales $1,252.1 $793.8 $731.2 $35.4 $184.9 $2,997.4 (A) Operating income (loss) 354.4 211.2 197.6 3.9 (100.2) 666.9 (B) Depreciation and amortization 169.7 111.8 48.2 6.6 12.9 349.2 Equity affiliates' income 37.1 4.2 20.7 92.9 3.5 158.4 Total Assets 31 December 2024 $12,796.2 $7,153.1 $5,760.9 $9,586.0 $4,721.0 $40,017.2 30 September 2024 12,383.8 7,436.5 5,849.2 8,477.4 5,427.7 39,574.6 (A) Sales relate to external customers only. All intersegment sales are eliminated in consolidation. (B) Refer to the "Reconciliation to Consolidated Results " section below. Reconciliation to Consolidated Results The table below reconciles total operating income disclosed in the table above to consolidated operating income as reflected on our consolidated income statements: Three Months Ended 31 December Operating Income 2024 2023 Total $673.5 $666.9 Shareholder activism costs (29.9) — Consolidated Operating Income $643.6 $666.9

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Pay vs Performance Disclosure
Net income attributable to Air Products	$ 617.4	$ 609.3

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 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

Basis of Presentation and Maj_2

Basis of Presentation and Major Accounting Policies (Policies)	3 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The interim consolidated financial statements of Air Products and Chemicals, Inc. and its subsidiaries included herein have been prepared by us, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC"). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles ("GAAP") have been condensed or omitted pursuant to such rules and regulations. In our opinion, the accompanying statements reflect adjustments necessary to fairly present the financial position, results of operations, and cash flows for those periods indicated and contain adequate disclosures to make the information presented not misleading. Adjustments included herein are of a normal, recurring nature unless otherwise disclosed in the notes to the interim consolidated financial statements. To fully understand the basis of presentation, the interim consolidated financial statements and related notes included herein should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended 30 September 2024 (the " 2024 Form 10-K "), which was filed with the SEC on 21 November 2024. Results of operations for interim periods are not necessarily indicative of the results of operations for a full year.
New Accounting Guidance to be Implemented	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. Disaggregation of Income Statement Expenses In November 2024, the FASB issued ASU 2024-03, “Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses”, which requires additional disclosures of certain costs and expenses, including purchases of inventory, employee compensation, depreciation, intangible asset amortization, as well as selling expenses in the notes to the financial statements. In January 2025, the FASB clarified that the update will be effective in our Annual Report on Form 10-K for the fiscal year ending 30 September 2028 as well as interim periods thereafter, although early adoption is permitted. The amendments should be applied either prospectively after the effective date or retrospectively to any or all periods presented. We are evaluating the impact this update will have on our disclosures.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	3 Months Ended
	Dec. 31, 2024
Consolidated Variable Interest Entities Disclosure [Abstract]
Schedule of Variable Interest Entities (NGHC)	The table below summarizes 31 December 30 September 2024 2024 Assets Cash and cash items $24.0 $34.5 Trade receivables, net 15.4 6.7 Prepaid expenses 30.7 31.2 Other receivables and current assets 126.3 120.6 Total Current Assets $196.4 $193.0 Plant and equipment, net 5,015.4 3,929.9 Operating lease right-of-use assets, net 226.2 233.9 Other noncurrent assets 254.4 37.1 Total Noncurrent Assets $5,496.0 $4,200.9 Total Assets $5,692.4 $4,393.9 Liabilities Payables and accrued liabilities $358.3 $308.4 Accrued income taxes 0.8 2.0 Short-term borrowings 60.4 51.6 Total Current Liabilities $419.5 $362.0 Long-term debt 3,499.4 3,053.3 Noncurrent operating lease liabilities 19.7 24.5 Other noncurrent liabilities 35.4 30.4 Deferred income taxes 20.1 3.2 Total Noncurrent Liabilities $3,574.6 $3,111.4 Total Liabilities $3,994.1 $3,473.4 Equity Accumulated other comprehensive income $61.8 $13.8 Noncontrolling interests 1,255.3 937.6

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Consolidated Sales Disaggregated by Supply Mode	Disaggregation of Revenue The tables below present our consolidated sales disaggregated by supply mode for each of our reportable segments for the first three months of fiscal years 2025 and 2024. We believe this presentation best depicts the nature, timing, type of customer, and contract terms for our sales. Three Months Ended 31 December 2024 Americas Asia Europe Middle East Corporate Total % On-site $713.1 $529.3 $228.3 $17.6 $— $1,488.3 51 % Merchant 574.5 287.8 468.9 15.2 — 1,346.4 46 % Sale of equipment — — — — 96.8 96.8 3 % Total $1,287.6 $817.1 $697.2 $32.8 $96.8 $2,931.5 100 % Three Months Ended 31 December 2023 Americas Asia Europe Middle East Corporate Total % On-site $714.1 $503.2 $259.2 $17.5 $— $1,494.0 50 % Merchant 538.0 290.6 472.0 17.9 — 1,318.5 44 % Sale of equipment — — — — 184.9 184.9 6 % Total $1,252.1 $793.8 $731.2 $35.4 $184.9 $2,997.4 100 % Interest income associated with financing and lease arrangements accounted for approximately 1% of our total consolidated sales during the three months ended 31 December 2024 and 2023.
Schedule of Contract Assets and Liabilities	Contract Balances The table below details balances arising from contracts with customers: 31 December 30 September Balance Sheet Location 2024 2024 Assets Contract assets – current Other receivables and current assets $100.1 $76.2 Contract fulfillment costs – current Other receivables and current assets 96.9 103.7 Liabilities Contract liabilities – current Payables and accrued liabilities $202.8 $240.0 Contract liabilities – noncurrent Other noncurrent liabilities 283.2 290.0

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Dec. 31, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory	The components of inventories are as follows: 31 December 30 September 2024 2024 Finished goods $189.8 $210.2 Work in process 47.9 42.2 Raw materials, supplies, and other 501.3 513.6 Inventories $739.0 $766.0

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes to the carrying amount of consolidated goodwill by segment for the three months ended 31 December 2024 are as follows: Americas Asia Europe Middle East and India Corporate and other Total Goodwill, net as of 30 September 2024 $146.3 $174.7 $534.3 $15.8 $34.0 $905.1 Currency translation (4.2) (4.4) (29.7) — (0.3) (38.6) Goodwill, net as of 31 December 2024 $142.1 $170.3 $504.6 $15.8 $33.7 $866.5 31 December 30 September 2024 2024 Goodwill, gross $1,131.5 $1,199.8 Accumulated impairment losses (A) (265.0) (294.7) Goodwill, net $866.5 $905.1 (A)

Financial Instruments (Tables)

Financial Instruments (Tables)	3 Months Ended
	Dec. 31, 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: 31 December 2024 30 September 2024 US$ Years US$ Years Forward Exchange Contracts: Cash flow hedges $3,685.3 0.5 $4,003.2 0.6 Net investment hedges 850.6 2.2 911.4 2.5 Not designated 1,333.7 0.3 1,880.0 0.3 Total Forward Exchange Contracts $5,869.6 0.7 $6,794.6 0.8 The table below summarizes our 31 December 2024 30 September 2024 US$ Average Average Years US$ Average Average Years Interest rate swaps $800.0 SOFR 1.64 % 2.7 $800.0 SOFR 1.64 % 3.0 Interest rate swaps (cash flow hedge) (A) $2,372.2 2.72 % SOFR 21.0 $2,159.3 2.72 % SOFR 21.2 Interest rate swaps (not designated) (A) $506.7 3.27 % SOFR 20.2 $461.4 3.27 % SOFR 20.5 Cross currency interest rate swaps $— — % — % 0.0 $16.7 5.39 % 3.64 % 0.2 Cross currency interest rate swaps $381.3 4.97 % 2.84 % 1.8 $410.6 4.96 % 2.80 % 1.9 Cross currency interest rate swaps $— — % — % 0.0 $34.7 5.39 % 3.64 % 0.2 (A)
Schedule of Cumulative Basis Adjustments for Fair Value Hedges	The table below provides the amounts recorded on the consolidated balance sheet related to cumulative basis adjustments for fair value hedges: Carrying amounts of hedged item Cumulative hedging adjustment, included in carrying amount 31 December 30 September 31 December 30 September Balance Sheet Location 2024 2024 2024 2024 Current portion of long-term debt $544.4 $— ($5.2) $— Long-term debt $1,502.3 $2,057.1 ($42.3) ($36.6)
Schedule of Fair Value and Balance Sheet Location of Derivative Instruments	The table below summarizes the fair value and balance sheet location of our outstanding derivatives: Balance Sheet Location 31 December 30 September Balance Sheet Location 31 December 30 September 2024 2024 2024 2024 Derivatives Designated as Hedging Instruments: Forward exchange contracts Other receivables and current assets $59.5 $74.5 Payables and accrued liabilities $143.6 $21.6 Interest rate management contracts Other receivables and current assets 4.8 1.2 Payables and accrued liabilities 5.2 1.2 Forward exchange contracts Other noncurrent assets 22.3 9.6 Other noncurrent liabilities 10.7 15.6 Interest rate management contracts Other noncurrent assets 224.9 34.3 Other noncurrent liabilities 43.1 40.2 Total Derivatives Designated as Hedging Instruments $311.5 $119.6 $202.6 $78.6 Derivatives Not Designated as Hedging Instruments: Forward exchange contracts Other receivables and current assets $15.8 $16.5 Payables and accrued liabilities $13.4 $21.8 Interest rate management contracts Other receivables and current assets — 1.7 Payables and accrued liabilities — — Forward exchange contracts Other noncurrent assets 0.4 0.2 Other noncurrent liabilities — 0.2 Interest rate management contracts Other noncurrent assets 41.6 4.6 Other noncurrent liabilities — — Total Derivatives Not Designated as Hedging Instruments $57.8 $23.0 $13.4 $22.0 Total Derivatives $369.3 $142.6 $216.0 $100.6
Schedule of Gains and Losses Recognized in Other Comprehensive Income Related Net Investment and Cash Flow Hedges	The tables below summarize gains (losses) recognized in other comprehensive income during the period related to our net investment and cash flow hedging relationships: Three Months Ended 31 December 2024 2023 Net Investment Hedging Relationships Forward exchange contracts $53.9 ($31.8) Foreign currency debt 140.4 (89.9) Cross currency interest rate swaps 0.4 (1.9) Total Amount Recognized in OCI 194.7 (123.6) Tax effects (47.5) 30.1 Net Amount Recognized in OCI $147.2 ($93.5) Three Months Ended 31 December 2024 2023 Derivatives in Cash Flow Hedging Relationships Forward exchange contracts ($177.8) $115.1 Forward exchange contracts, excluded components (1.5) (9.0) Other (A) 223.0 (261.7) Total Amount Recognized in OCI 43.7 (155.6) Tax effects 22.0 (5.5) Net Amount Recognized in OCI $65.7 ($161.1) (A)
Schedule of Amounts Recognized in Income Related to Cash Flow and Fair Value Hedges	The Three Months Ended 31 December Sales Cost of Sales Interest Expense Other Non-Operating Income (Expense), Net 2024 2023 2024 2023 2024 2023 2024 2023 Total presented in consolidated income statements that includes effects of hedging below $2,931.5 $2,997.4 $2,016.5 $2,067.2 $42.6 $53.5 $38.9 ($14.8) (Gain) Loss Effects of Cash Flow Hedging: Forward Exchange Contracts: Amount reclassified from OCI into income $0.2 $0.3 $0.9 $1.3 $— $— $129.3 ($74.9) Amount excluded from effectiveness testing recognized in earnings based on amortization approach — — — — — — 6.1 5.7 Other: Amount reclassified from OCI into income — — — — 0.5 1.3 (17.3) 11.3 Total (Gain) Loss Reclassified from OCI to Income 0.2 0.3 0.9 1.3 0.5 1.3 118.1 (57.9) Tax effects — (0.1) (0.1) (0.3) (0.2) (0.5) (27.5) 13.7 Net (Gain) Loss Reclassified from OCI to Income $0.2 $0.2 $0.8 $1.0 $0.3 $0.8 $90.6 ($44.2) (Gain) Loss Effects of Fair Value Hedging: Other: Hedged items $— $— $— $— ($10.9) $26.1 $— $— Derivatives designated as hedging instruments — — — — 10.9 (26.1) — — Total (Gain) Loss Recognized in Income $— $— $— $— $— $— $— $—
Schedule of Effects of Derivatives Not Designated as a Hedging Instrument	The tables below summarize the location and amounts recognized in income related to our derivatives not designated as hedging instruments by contract type: Three Months Ended 31 December Other Income (Expense), Net Other Non-Operating Income (Expense), Net 2024 2023 2024 2023 The Effects of Derivatives Not Designated as Hedging Instruments: Forward exchange contracts ($3.9) $3.2 ($1.9) ($1.2) De-designated interest rate swaps — — (38.8) — Other — — (1.7) 0.8 Total (Gain) Loss Recognized in Income ($3.9) $3.2 ($42.4) ($0.4)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Carrying Value and Fair Value of Financial Instruments	The carrying values and fair values of financial instruments were as follows: 31 December 2024 30 September 2024 Carrying Value Fair Value Carrying Value Fair Value Assets Derivatives Forward exchange contracts $98.0 $98.0 $100.8 $100.8 Interest rate management contracts 271.3 271.3 41.8 41.8 Liabilities Derivatives Forward exchange contracts $167.7 $167.7 $59.2 $59.2 Interest rate management contracts 48.3 48.3 41.4 41.4 Long-term debt, including current portion and related party 14,402.3 13,900.1 14,144.4 13,897.3
Schedule of Fair Value Assets and Liabilities Measured On Recurring Basis	The table below summarizes assets and liabilities on the consolidated balance sheets that are measured at fair value on a recurring basis: 31 December 2024 30 September 2024 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets at Fair Value Derivatives Forward exchange contracts $98.0 $— $98.0 $— $100.8 $— $100.8 $— Interest rate management contracts 271.3 — 271.3 — 41.8 — 41.8 — Total Assets at Fair Value $369.3 $— $369.3 $— $142.6 $— $142.6 $— Liabilities at Fair Value Derivatives Forward exchange contracts $167.7 $— $167.7 $— $59.2 $— $59.2 $— Interest rate management contracts 48.3 — 48.3 — 41.4 — 41.4 — Total Liabilities at Fair Value $216.0 $— $216.0 $— $100.6 $— $100.6 $—

Retirement Benefits (Tables)

Retirement Benefits (Tables)	3 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Schedule of Net Periodic (Benefit) Cost	The components of net periodic cost for our defined benefit pension plans for the three months ended 31 December 2024 and 2023 were as follows: Pension Benefits 2024 2023 Three Months Ended 31 December U.S. International Total U.S. International Total Service cost $2.3 $2.9 $5.2 $2.4 $2.8 $5.2 Non-service cost: Interest cost 29.9 13.9 43.8 33.7 14.8 48.5 Expected return on plan assets (33.2) (14.7) (47.9) (30.0) (11.6) (41.6) Prior service cost amortization 0.3 0.2 0.5 0.3 0.2 0.5 Actuarial loss amortization 11.7 2.4 14.1 14.3 3.2 17.5 Other — 0.1 0.1 — 0.1 0.1 Net Periodic Cost $11.0 $4.8 $15.8 $20.7 $9.5 $30.2

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Dec. 31, 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: Three Months Ended 31 December 2024 2023 Before-tax share-based compensation cost $16.5 $13.6 Income tax benefit (4.0) (3.3) After-tax share-based compensation cost $12.5 $10.3
Schedule of Assumptions for Fair Value of Market-Based Deferred Stock Units	The calculation of the fair value of market-based deferred stock units used the following assumptions: Expected volatility 30.4 % Risk-free interest rate 4.1 % Expected dividend yield 2.1 %

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Dec. 31, 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 for the three months ended 31 December 2024: Derivatives Foreign Pension and Total Balance at 30 September 2024 $27.2 ($1,545.3) ($509.6) ($2,027.7) Other comprehensive income (loss) before reclassifications 65.7 (624.0) — (558.3) Amounts reclassified from AOCL 91.9 — 11.0 102.9 Net current period other comprehensive income (loss) $157.6 ($624.0) $11.0 ($455.4) Amount attributable to noncontrolling interests 119.6 (16.5) — 103.1 Balance at 31 December 2024 $65.2 ($2,152.8) ($498.6) ($2,586.2)
Schedule of Reclassification 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: Three Months Ended 31 December 2024 2023 Loss (Gain) on Cash Flow Hedges, net of tax Sales $0.2 $0.2 Cost of sales 0.8 1.0 Interest expense 0.3 0.8 Other non-operating income (expense), net 90.6 (44.2) Total Loss (Gain) on Cash Flow Hedges, net of tax $91.9 ($42.2) Pension and Postretirement Benefits, net of tax (A) $11.0 $13.7 (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 9, Retirement Benefits , for additional information.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Dec. 31, 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"): Three Months Ended 31 December 2024 2023 Numerator Net income attributable to Air Products $617.4 $609.3 Denominator (in millions) Weighted average common shares — Basic 222.7 222.5 Effect of dilutive securities Employee stock option and other award plans 0.2 0.3 Weighted average common shares — Diluted 222.9 222.8 Per Share Data (U.S. Dollars per share) Basic EPS attributable to Air Products $2.77 $2.74 Diluted EPS attributable to Air Products $2.77 $2.73

Supplemental Information (Table

Supplemental Information (Tables)	3 Months Ended
	Dec. 31, 2024
Disclosure Text Block Supplement [Abstract]
Schedule of Restructuring Reserve	As of 30 September 2024, the liability for unpaid benefits reflected within "Payables and accrued liabilities" on our consolidated balance sheet was $34.0 and primarily related to employees identified in 2024. The table below reconciles this balance to the remaining liability as of 31 December 2024, the majority of which we expect to pay during the second quarter of fiscal year 2025. Amount accrued as of 30 September 2024 $34.0 Cash payments (10.4) Currency translation adjustment (1.3) Amount accrued as of 31 December 2024 $22.3

Business Segment Information (T

Business Segment Information (Tables)	3 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Summary by Business Segment Americas Asia Europe Middle East and India Corporate and other Total Three Months Ended 31 December 2024 Sales $1,287.6 $817.1 $697.2 $32.8 $96.8 $2,931.5 (A) Operating income (loss) 388.2 216.4 186.5 (0.6) (117.0) 673.5 (B) Depreciation and amortization 173.4 122.9 54.5 6.5 9.5 366.8 Equity affiliates' income 35.1 10.3 18.2 85.0 2.0 150.6 Three Months Ended 31 December 2023 Sales $1,252.1 $793.8 $731.2 $35.4 $184.9 $2,997.4 (A) Operating income (loss) 354.4 211.2 197.6 3.9 (100.2) 666.9 (B) Depreciation and amortization 169.7 111.8 48.2 6.6 12.9 349.2 Equity affiliates' income 37.1 4.2 20.7 92.9 3.5 158.4 Total Assets 31 December 2024 $12,796.2 $7,153.1 $5,760.9 $9,586.0 $4,721.0 $40,017.2 30 September 2024 12,383.8 7,436.5 5,849.2 8,477.4 5,427.7 39,574.6 (A) Sales relate to external customers only. All intersegment sales are eliminated in consolidation. (B) Refer to the "Reconciliation to Consolidated Results " section below.
Reconciliation of Segments to Consolidated Operating Income	Reconciliation to Consolidated Results The table below reconciles total operating income disclosed in the table above to consolidated operating income as reflected on our consolidated income statements: Three Months Ended 31 December Operating Income 2024 2023 Total $673.5 $666.9 Shareholder activism costs (29.9) — Consolidated Operating Income $643.6 $666.9

Variable Interest Entities - NG

Variable Interest Entities - NGHC Joint Venture Project Financing (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	May 31, 2023	Dec. 31, 2024	Sep. 30, 2024
Variable Interest Entity [Line Items]
Short-term borrowings		$ 68.2	$ 83.5
Variable Interest Entity, Primary Beneficiary | NEOM Green Hydrogen Company
Variable Interest Entity [Line Items]
Voting interest in joint venture		33.30%
Value of engineering, procurement, and construction agreement	$ 6,700
Short-term borrowings		$ 60.4	51.6
Variable Interest Entity, Primary Beneficiary | NEOM Green Hydrogen Company | De-designated interest rate swap
Variable Interest Entity [Line Items]
Unrealized gain on de-designated cash flow hedging instruments, before tax		38.8
Unrealized gain on de-designated cash flow hedging instruments attributable to Air Products, after tax		10.3
Unrealized Gain on De-Designated Cash Flow Hedging Instruments, Attributable To Noncontrolling Interest, Before Tax		25.2
Variable Interest Entity, Primary Beneficiary | Nonrecourse | NEOM Green Hydrogen Company
Variable Interest Entity [Line Items]
Long-term debt, principal amount		3,800	3,300
Variable Interest Entity, Primary Beneficiary | NEOM Green Hydrogen Project Financing, Primary | Nonrecourse | NEOM Green Hydrogen Company
Variable Interest Entity [Line Items]
Project financing maximum borrowing capacity		$ 6,100
Amount of expected debt funding (percent)		73%
Variable Interest Entity, Primary Beneficiary | NEOM Green Hydrogen Project Financing, Working Capital | Nonrecourse | NEOM Green Hydrogen Company
Variable Interest Entity [Line Items]
Project financing maximum borrowing capacity		$ 500
Variable Interest Entity, Primary Beneficiary | Saudi Riyal Loan Facility Variable-Rate 5.70% | NEOM Green Hydrogen Company
Variable Interest Entity [Line Items]
Short-term borrowings		$ 60.4	$ 51.6
Interest rate, variable percentage		5.70%

Variable Interest Entities - _2

Variable Interest Entities - NGHC Joint Venture By Balance Sheet Items (Details) - USD ($) $ in Millions		Dec. 31, 2024	Sep. 30, 2024
Assets
Cash and cash items		$ 1,845.5	$ 2,979.7
Trade receivables, net		1,807.4	1,821.6
Prepaid expenses		201.8	179.9
Other receivables and current assets		640.5	610.8
Total Current Assets		5,351.7	6,363
Plant and equipment, net		24,730.8	23,370.9
Operating lease right-of-use assets, net		1,017.4	1,047.7
Other noncurrent assets		1,410.1	1,171.5
Total Noncurrent Assets		34,665.5	33,211.6
Total Assets	[1]	40,017.2	39,574.6
Liabilities
Payables and accrued liabilities		3,023.7	2,926.2
Accrued income taxes		586.1	558.5
Short-term borrowings		68.2	83.5
Total Current Liabilities		4,809.4	4,179.6
Noncurrent operating lease liabilities		655.1	677.9
Other noncurrent liabilities		1,348.1	1,350.5
Deferred income taxes		1,195	1,159.9
Total Noncurrent Liabilities		16,469.1	16,721.3
Total Liabilities	[1]	21,278.5	20,900.9
Equity
Accumulated other comprehensive income		(2,586.2)	(2,027.7)
Noncontrolling interests	[1]	2,046.4	1,637.2
Variable Interest Entity, Primary Beneficiary | NEOM Green Hydrogen Company
Assets
Cash and cash items		24	34.5
Trade receivables, net		15.4	6.7
Prepaid expenses		30.7	31.2
Other receivables and current assets		126.3	120.6
Total Current Assets		196.4	193
Plant and equipment, net		5,015.4	3,929.9
Operating lease right-of-use assets, net		226.2	233.9
Other noncurrent assets		254.4	37.1
Total Noncurrent Assets		5,496	4,200.9
Total Assets		5,692.4	4,393.9
Liabilities
Payables and accrued liabilities		358.3	308.4
Accrued income taxes		0.8	2
Short-term borrowings		60.4	51.6
Total Current Liabilities		419.5	362
Long-term debt		3,499.4	3,053.3
Noncurrent operating lease liabilities		19.7	24.5
Other noncurrent liabilities		35.4	30.4
Deferred income taxes		20.1	3.2
Total Noncurrent Liabilities		3,574.6	3,111.4
Total Liabilities		3,994.1	3,473.4
Equity
Accumulated other comprehensive income		61.8	13.8
Noncontrolling interests		$ 1,255.3	$ 937.6
[1] Includes balances associated with a consolidated variable interest entity ("VIE"), including amounts reflected in "Total Assets" that can only be used to settle obligations of the VIE of $5,692.4 and $4,393.9 as of 31 December 2024 and 30 September 2024, respectively, as well as liabilities of the VIE reflected within "Total Liabilities" for which creditors do not have recourse to the general credit of Air Products of $3,994.1 and $3,473.4 as of 31 December 2024 and 30 September 2024, respectively. Refer to Note 3, Variable Interest Entities , for additional information regarding the NEOM Green Hydrogen Company joint venture.

Variable Interest Entities - JI

Variable Interest Entities - JIGPC Joint Venture (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2024	Sep. 30, 2024
Jazan Integrated Gasification and Power Company ("JIGPC")
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage		55%
Investment balance		$ 2,909	$ 2,871.2
Jazan Integrated Gasification and Power Company ("JIGPC") | Non- controlling Interests
Schedule of Equity Method Investments [Line Items]
Ownership percentage attributable to noncontrolling partner (in percent)		4%
Jazan Integrated Gasification and Power Company ("JIGPC") | Aramco
Schedule of Equity Method Investments [Line Items]
Term of project agreement (in years)	25 years

Variable Interest Entities - Wo

Variable Interest Entities - World Energy (Details) $ in Millions	1 Months Ended
	Nov. 30, 2023 renewal	Dec. 31, 2024 USD ($)	Sep. 30, 2024 USD ($)
Variable Interest Entity [Line Items]
Financing receivables		$ 1,245.4	$ 1,220.2
World Energy | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Financing receivables		300
Term of project agreement (in years)	15 years
Number of renewal terms of project agreement | renewal	2
Project agreement, renewal term (in years)	5 years
Maximum loss exposure, amount		2,100
World Energy | Variable Interest Entity, Not Primary Beneficiary | Sustainable Aviation Fuel Facility Expansion Project
Variable Interest Entity [Line Items]
Maximum loss exposure, amount		1,500
World Energy | Variable Interest Entity, Not Primary Beneficiary | Purchase Commitment | Sustainable Aviation Fuel Facility Expansion Project
Variable Interest Entity [Line Items]
Maximum loss exposure, amount		215
World Energy | Variable Interest Entity, Not Primary Beneficiary | Property, Plant and Equipment | Sustainable Aviation Fuel Facility Expansion Project
Variable Interest Entity [Line Items]
Maximum loss exposure, amount		1,200
World Energy | Variable Interest Entity, Not Primary Beneficiary | Other Noncurrent Assets | Sustainable Aviation Fuel Facility Expansion Project
Variable Interest Entity [Line Items]
Maximum loss exposure, amount		$ 336

Revenue Recognition (Disaggrega

Revenue Recognition (Disaggregation of Revenue) (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Sales	$ 2,931.5	$ 2,997.4
Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 2,931.5	$ 2,997.4
Percent sales by supply mode	100%	100%
Americas | Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 1,287.6	$ 1,252.1
Asia | Operating Segments
Disaggregation of Revenue [Line Items]
Sales	817.1	793.8
Europe | Operating Segments
Disaggregation of Revenue [Line Items]
Sales	697.2	731.2
Middle East and India | Operating Segments
Disaggregation of Revenue [Line Items]
Sales	32.8	35.4
Corporate and other | Operating Segments
Disaggregation of Revenue [Line Items]
Sales	96.8	184.9
On-site | Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 1,488.3	$ 1,494
Percent sales by supply mode	51%	50%
On-site | Americas | Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 713.1	$ 714.1
On-site | Asia | Operating Segments
Disaggregation of Revenue [Line Items]
Sales	529.3	503.2
On-site | Europe | Operating Segments
Disaggregation of Revenue [Line Items]
Sales	228.3	259.2
On-site | Middle East and India | Operating Segments
Disaggregation of Revenue [Line Items]
Sales	17.6	17.5
On-site | Corporate and other | Operating Segments
Disaggregation of Revenue [Line Items]
Sales	0	0
Merchant | Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 1,346.4	$ 1,318.5
Percent sales by supply mode	46%	44%
Merchant | Americas | Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 574.5	$ 538
Merchant | Asia | Operating Segments
Disaggregation of Revenue [Line Items]
Sales	287.8	290.6
Merchant | Europe | Operating Segments
Disaggregation of Revenue [Line Items]
Sales	468.9	472
Merchant | Middle East and India | Operating Segments
Disaggregation of Revenue [Line Items]
Sales	15.2	17.9
Merchant | Corporate and other | Operating Segments
Disaggregation of Revenue [Line Items]
Sales	0	0
Sale of Equipment | Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 96.8	$ 184.9
Percent sales by supply mode	3%	6%
Sale of Equipment | Americas | Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 0	$ 0
Sale of Equipment | Asia | Operating Segments
Disaggregation of Revenue [Line Items]
Sales	0	0
Sale of Equipment | Europe | Operating Segments
Disaggregation of Revenue [Line Items]
Sales	0	0
Sale of Equipment | Middle East and India | Operating Segments
Disaggregation of Revenue [Line Items]
Sales	0	0
Sale of Equipment | Corporate and other | Operating Segments
Disaggregation of Revenue [Line Items]
Sales	$ 96.8	$ 184.9
Financing And Lease Arrangment | Revenue Benchmark | Revenue Source Concentration Risk
Disaggregation of Revenue [Line Items]
Interest income associated with financing and lease arrangements as a percentage of total consolidated sales	1%

Revenue Recognition (Remaining

Revenue Recognition (Remaining Performance Obligations) (Details) $ in Billions	Dec. 31, 2024 USD ($)
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]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percentage of remaining performance obligation	50%
Estimated timing of recognition of performance obligation	5 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2030-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percentage of remaining performance obligation	50%
Estimated timing of recognition of performance obligation

Revenue Recognition (Contract A

Revenue Recognition (Contract Assets and Liabilities) (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2024	Sep. 30, 2024
Contract Assets and Liabilities
Contract assets - current	$ 100.1	$ 76.2
Contract fulfillment costs - current	96.9	103.7
Contract liabilities - current	202.8	240
Contract liabilities - noncurrent	283.2	$ 290
Revenue recognized that was previously included in current contract liabilities	$ 55

Inventories (Schedule of Invent

Inventories (Schedule of Inventory) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Sep. 30, 2024
Inventory Disclosure [Abstract]
Finished goods	$ 189.8	$ 210.2
Work in process	47.9	42.2
Raw materials, supplies, and other	501.3	513.6
Inventories	$ 739	$ 766

Goodwill (Schedule of Goodwill

Goodwill (Schedule of Goodwill by Segment) (Details) $ in Millions	3 Months Ended
	Dec. 31, 2024 USD ($)
Goodwill [Roll Forward]
Goodwill, net, beginning balance	$ 905.1
Currency translation	(38.6)
Goodwill, net, ending balance	866.5
Americas
Goodwill [Roll Forward]
Goodwill, net, beginning balance	146.3
Currency translation	(4.2)
Goodwill, net, ending balance	142.1
Asia
Goodwill [Roll Forward]
Goodwill, net, beginning balance	174.7
Currency translation	(4.4)
Goodwill, net, ending balance	170.3
Europe
Goodwill [Roll Forward]
Goodwill, net, beginning balance	534.3
Currency translation	(29.7)
Goodwill, net, ending balance	504.6
Middle East and India
Goodwill [Roll Forward]
Goodwill, net, beginning balance	15.8
Currency translation	0
Goodwill, net, ending balance	15.8
Corporate and other
Goodwill [Roll Forward]
Goodwill, net, beginning balance	34
Currency translation	(0.3)
Goodwill, net, ending balance	$ 33.7

Goodwill (Schedule of Accumulat

Goodwill (Schedule of Accumulated Impairment Losses) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Sep. 30, 2024
Goodwill [Line Items]
Goodwill, gross	$ 1,131.5	$ 1,199.8
Goodwill, net	866.5	905.1
Americas
Goodwill [Line Items]
Goodwill, accumulated impairment losses	(265)	(294.7)
Goodwill, net	$ 142.1	$ 146.3

Financial Instruments (Narrativ

Financial Instruments (Narrative) (Details) € in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2024 EUR (€)	Dec. 31, 2024 USD ($)	Sep. 30, 2024 EUR (€)	Sep. 30, 2024 USD ($)
Derivative [Line Items]
Net liability position of derivatives with credit risk-related contingent features		$ 61,900,000		$ 47,300,000
Collateral posted on liability positions with credit risk-related contingent features		0
Collateral amount that counterparties would be required to post		$ 293,100,000		57,200,000
Forward exchange contracts | Cash flow hedges
Derivative [Line Items]
Maximum remaining maturity of foreign currency derivatives	2 years 10 months 24 days	2 years 10 months 24 days
Foreign currency debt | Euro Denominated
Derivative [Line Items]
Notional amount included in designated foreign currency denominated debt	€ 1,927.1	$ 2,004,500,000	€ 1,905.7	$ 2,121,900,000

Financial Instruments (Currency

Financial Instruments (Currency Price Risk Management Instruments) (Details) - Forward exchange contracts - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2024	Sep. 30, 2024
Derivative [Line Items]
US$ Notional	$ 5,869.6	$ 6,794.6
Years Average Maturity	8 months 12 days	9 months 18 days
Designated as hedging instrument | Cash flow hedges
Derivative [Line Items]
US$ Notional	$ 3,685.3	$ 4,003.2
Years Average Maturity	6 months	7 months 6 days
Designated as hedging instrument | Net investment hedges
Derivative [Line Items]
US$ Notional	$ 850.6	$ 911.4
Years Average Maturity	2 years 2 months 12 days	2 years 6 months
Not designated as hedging instrument
Derivative [Line Items]
US$ Notional	$ 1,333.7	$ 1,880
Years Average Maturity	3 months 18 days	3 months 18 days

Financial Instruments (Interest

Financial Instruments (Interest Rate Management Contracts and Cross Currency Interest Rate Swaps) (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2024	Sep. 30, 2024
Interest Rate Swaps Contracts | Designated as hedging instrument | Fair Value Hedges
Derivative [Line Items]
US$ Notional	$ 800	$ 800
Average Pay %	Secured Overnight Financing Rate (SOFR) [Member]	Secured Overnight Financing Rate (SOFR) [Member]
Average Receive %	1.64%	1.64%
Years Average Maturity	2 years 8 months 12 days	3 years
Interest Rate Swaps Contracts | Designated as hedging instrument | Cash flow hedges
Derivative [Line Items]
US$ Notional	$ 2,372.2	$ 2,159.3
Average Pay %	2.72%	2.72%
Average Receive %	SOFR	SOFR
Years Average Maturity	21 years	21 years 2 months 12 days
Interest Rate Swaps Contracts | Not designated as hedging instrument
Derivative [Line Items]
US$ Notional	$ 506.7	$ 461.4
Average Pay %	3.27%	3.27%
Average Receive %	SOFR	SOFR
Years Average Maturity	20 years 2 months 12 days	20 years 6 months
Cross currency interest rate swaps | Designated as hedging instrument | Net investment hedges
Derivative [Line Items]
US$ Notional	$ 0	$ 16.7
Average Pay %	0%	5.39%
Average Receive %	0%	3.64%
Years Average Maturity	0 years	2 months 12 days
Cross currency interest rate swaps | Designated as hedging instrument | Cash flow hedges
Derivative [Line Items]
US$ Notional	$ 381.3	$ 410.6
Average Pay %	4.97%	4.96%
Average Receive %	2.84%	2.80%
Years Average Maturity	1 year 9 months 18 days	1 year 10 months 24 days
Cross currency interest rate swaps | Not designated as hedging instrument
Derivative [Line Items]
US$ Notional	$ 0	$ 34.7
Average Pay %	0%	5.39%
Average Receive %	0%	3.64%
Years Average Maturity	0 years	2 months 12 days

Financial Instruments (Carrying

Financial Instruments (Carrying Amount and Cumulative Hedging Adjustment) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Sep. 30, 2024
Current portion of long-term debt
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Carrying amounts of hedged item	$ 544.4	$ 0
Cumulative hedging adjustment, included in carrying amount	(5.2)	0
Long-term debt
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Carrying amounts of hedged item	1,502.3	2,057.1
Cumulative hedging adjustment, included in carrying amount	$ (42.3)	$ (36.6)

Financial Instruments (Fair Val

Financial Instruments (Fair Value and Balance Sheet Location of Derivatives) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Sep. 30, 2024
Derivative [Line Items]
Total Derivatives, Assets	$ 369.3	$ 142.6
Total Derivatives, Liabilities	216	100.6
Designated as hedging instrument
Derivative [Line Items]
Total Derivatives, Assets	311.5	119.6
Total Derivatives, Liabilities	202.6	78.6
Designated as hedging instrument | Other Receivables and Current Assets | Forward exchange contracts
Derivative [Line Items]
Total Derivatives, Assets	59.5	74.5
Designated as hedging instrument | Other Receivables and Current Assets | Interest Rate Management Contracts
Derivative [Line Items]
Total Derivatives, Assets	4.8	1.2
Designated as hedging instrument | Other Noncurrent Assets | Forward exchange contracts
Derivative [Line Items]
Total Derivatives, Assets	22.3	9.6
Designated as hedging instrument | Other Noncurrent Assets | Interest Rate Management Contracts
Derivative [Line Items]
Total Derivatives, Assets	224.9	34.3
Designated as hedging instrument | Payables and Accrued Liabilities | Forward exchange contracts
Derivative [Line Items]
Total Derivatives, Liabilities	143.6	21.6
Designated as hedging instrument | Payables and Accrued Liabilities | Interest Rate Management Contracts
Derivative [Line Items]
Total Derivatives, Liabilities	5.2	1.2
Designated as hedging instrument | Other Noncurrent Liabilities | Forward exchange contracts
Derivative [Line Items]
Total Derivatives, Liabilities	10.7	15.6
Designated as hedging instrument | Other Noncurrent Liabilities | Interest Rate Management Contracts
Derivative [Line Items]
Total Derivatives, Liabilities	43.1	40.2
Not designated as hedging instrument
Derivative [Line Items]
Total Derivatives, Assets	57.8	23
Total Derivatives, Liabilities	13.4	22
Not designated as hedging instrument | Other Receivables and Current Assets | Forward exchange contracts
Derivative [Line Items]
Total Derivatives, Assets	15.8	16.5
Not designated as hedging instrument | Other Receivables and Current Assets | Interest Rate Management Contracts
Derivative [Line Items]
Total Derivatives, Assets	0	1.7
Not designated as hedging instrument | Other Noncurrent Assets | Forward exchange contracts
Derivative [Line Items]
Total Derivatives, Assets	0.4	0.2
Not designated as hedging instrument | Other Noncurrent Assets | Interest Rate Management Contracts
Derivative [Line Items]
Total Derivatives, Assets	41.6	4.6
Not designated as hedging instrument | Payables and Accrued Liabilities | Forward exchange contracts
Derivative [Line Items]
Total Derivatives, Liabilities	13.4	21.8
Not designated as hedging instrument | Payables and Accrued Liabilities | Interest Rate Management Contracts
Derivative [Line Items]
Total Derivatives, Liabilities	0	0
Not designated as hedging instrument | Other Noncurrent Liabilities | Forward exchange contracts
Derivative [Line Items]
Total Derivatives, Liabilities	0	0.2
Not designated as hedging instrument | Other Noncurrent Liabilities | Interest Rate Management Contracts
Derivative [Line Items]
Total Derivatives, Liabilities	$ 0	$ 0

Financial Instruments (Gains an

Financial Instruments (Gains and Losses Recognized In Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Net Investment Hedging Relationships
Tax effects	$ (46.2)	$ 29.8
Net Amount Recognized in OCI	(624)	380.6
Derivatives in Cash Flow Hedging Relationships
Tax effects	22	(5.5)
Net Amount Recognized in OCI	65.7	(161.1)
Net investment hedges
Net Investment Hedging Relationships
Total Amount Recognized in OCI	194.7	(123.6)
Tax effects	(47.5)	30.1
Net Amount Recognized in OCI	147.2	(93.5)
Net investment hedges | Forward exchange contracts
Net Investment Hedging Relationships
Total Amount Recognized in OCI	53.9	(31.8)
Net investment hedges | Foreign currency debt
Net Investment Hedging Relationships
Total Amount Recognized in OCI	140.4	(89.9)
Net investment hedges | Cross currency interest rate swaps
Net Investment Hedging Relationships
Total Amount Recognized in OCI	0.4	(1.9)
Cash flow hedges
Derivatives in Cash Flow Hedging Relationships
Total Amount Recognized in OCI	43.7	(155.6)
Tax effects	22	(5.5)
Net Amount Recognized in OCI	65.7	(161.1)
Cash flow hedges | Forward exchange contracts
Derivatives in Cash Flow Hedging Relationships
Total Amount Recognized in OCI	(177.8)	115.1
Cash flow hedges | Forward exchange contracts, excluded components
Derivatives in Cash Flow Hedging Relationships
Total Amount Recognized in OCI	(1.5)	(9)
Cash flow hedges | Other
Derivatives in Cash Flow Hedging Relationships
Total Amount Recognized in OCI	$ 223	$ (261.7)

Financial Instruments (Cash Flo

Financial Instruments (Cash Flow and Fair Value Hedges Location and Amounts Recognized) (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Total presented in consolidated income statements that includes effects of hedging below
Sales	$ 2,931.5	$ 2,997.4
Cost of sales	2,016.5	2,067.2
Other non-operating income (expense), net	38.9	(14.8)
(Gain) Loss Effects of Cash Flow Hedging:
Tax effects	(27.8)	12.8
Net (Gain) Loss Reclassified from OCI to Income	91.9	(42.2)
Cash flow hedges | Sales
(Gain) Loss Effects of Cash Flow Hedging:
Amount reclassified from OCI into income	0.2	0.3
Tax effects	0	(0.1)
Net (Gain) Loss Reclassified from OCI to Income	0.2	0.2
Cash flow hedges | Cost of Sales
(Gain) Loss Effects of Cash Flow Hedging:
Amount reclassified from OCI into income	0.9	1.3
Tax effects	(0.1)	(0.3)
Net (Gain) Loss Reclassified from OCI to Income	0.8	1
Cash flow hedges | Interest Expense
(Gain) Loss Effects of Cash Flow Hedging:
Amount reclassified from OCI into income	0.5	1.3
Tax effects	(0.2)	(0.5)
Net (Gain) Loss Reclassified from OCI to Income	0.3	0.8
Cash flow hedges | Other Non-Operating Income (Expense), Net
(Gain) Loss Effects of Cash Flow Hedging:
Amount reclassified from OCI into income	118.1	(57.9)
Tax effects	(27.5)	13.7
Net (Gain) Loss Reclassified from OCI to Income	90.6	(44.2)
Cash flow hedges | Forward exchange contracts | Sales
(Gain) Loss Effects of Cash Flow Hedging:
Amount reclassified from OCI into income	0.2	0.3
Cash flow hedges | Forward exchange contracts | Cost of Sales
(Gain) Loss Effects of Cash Flow Hedging:
Amount reclassified from OCI into income	0.9	1.3
Cash flow hedges | Forward exchange contracts | Interest Expense
(Gain) Loss Effects of Cash Flow Hedging:
Amount reclassified from OCI into income	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	129.3	(74.9)
Cash flow hedges | Forward exchange contracts, excluded components | Sales
(Gain) Loss Effects of Cash Flow Hedging:
Amount excluded from effectiveness testing recognized in earnings based on amortization approach	0	0
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
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
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	6.1	5.7
Cash flow hedges | Other | Sales
(Gain) Loss Effects of Cash Flow Hedging:
Amount reclassified from OCI into income	0	0
Cash flow hedges | Other | Cost of Sales
(Gain) Loss Effects of Cash Flow Hedging:
Amount reclassified from OCI into income	0	0
Cash flow hedges | Other | Interest Expense
(Gain) Loss Effects of Cash Flow Hedging:
Amount reclassified from OCI into income	0.5	1.3
Cash flow hedges | Other | Other Non-Operating Income (Expense), Net
(Gain) Loss Effects of Cash Flow Hedging:
Amount reclassified from OCI into income	(17.3)	11.3
Fair Value Hedges | Sales
(Gain) Loss Effects of Fair Value Hedging:
Total (Gain) Loss Recognized in Income	0	0
Fair Value Hedges | Cost of Sales
(Gain) Loss Effects of Fair Value Hedging:
Total (Gain) Loss Recognized in Income	0	0
Fair Value Hedges | Interest Expense
(Gain) Loss Effects of Fair Value Hedging:
Total (Gain) Loss Recognized in Income	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
Fair Value Hedges | Other | Sales
(Gain) Loss Effects of Fair Value Hedging:
Hedged items	0	0
Derivatives designated as hedging instruments	0	0
Fair Value Hedges | Other | Cost of Sales
(Gain) Loss Effects of Fair Value Hedging:
Hedged items	0	0
Derivatives designated as hedging instruments	0	0
Fair Value Hedges | Other | Interest Expense
(Gain) Loss Effects of Fair Value Hedging:
Hedged items	(10.9)	26.1
Derivatives designated as hedging instruments	10.9	(26.1)
Fair Value Hedges | Other | Other Non-Operating Income (Expense), Net
(Gain) Loss Effects of Fair Value Hedging:
Hedged items	0	0
Derivatives designated as hedging instruments	$ 0	$ 0

Financial Instruments (Effects

Financial Instruments (Effects of Derivatives Not Designated as a Hedging Instrument) (Details) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Other Income (Expense), Net
Derivative Instruments, Gain (Loss) [Line Items]
Total (Gain) Loss Recognized in Income	$ (3.9)	$ 3.2
Other Income (Expense), Net | Forward exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Total (Gain) Loss Recognized in Income	(3.9)	3.2
Other Income (Expense), Net | De-designated interest rate swap
Derivative Instruments, Gain (Loss) [Line Items]
Total (Gain) Loss Recognized in Income	0	0
Other Income (Expense), Net | Other
Derivative Instruments, Gain (Loss) [Line Items]
Total (Gain) Loss Recognized in Income	0	0
Other Non-Operating Income (Expense), Net
Derivative Instruments, Gain (Loss) [Line Items]
Total (Gain) Loss Recognized in Income	(42.4)	(0.4)
Other Non-Operating Income (Expense), Net | Forward exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Total (Gain) Loss Recognized in Income	(1.9)	(1.2)
Other Non-Operating Income (Expense), Net | De-designated interest rate swap
Derivative Instruments, Gain (Loss) [Line Items]
Total (Gain) Loss Recognized in Income	(38.8)	0
Other Non-Operating Income (Expense), Net | Other
Derivative Instruments, Gain (Loss) [Line Items]
Total (Gain) Loss Recognized in Income	$ (1.7)	$ 0.8

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of the Carrying Values and Fair Values of Financial Instruments) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Sep. 30, 2024
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current portion and related party, carrying value	$ 14,402.3	$ 14,144.4
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current portion and related party, fair value	13,900.1	13,897.3
Forward exchange contracts | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	98	100.8
Derivative liabilities	167.7	59.2
Forward exchange contracts | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	98	100.8
Derivative liabilities	167.7	59.2
Interest Rate Management Contracts | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	271.3	41.8
Derivative liabilities	48.3	41.4
Interest Rate Management Contracts | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	271.3	41.8
Derivative liabilities	$ 48.3	$ 41.4

Fair Value Measurements (Sche_2

Fair Value Measurements (Schedule of Recurring Fair Value Measurements) (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Dec. 31, 2024	Sep. 30, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Assets at Fair Value	$ 369.3	$ 142.6
Total Liabilities at Fair Value	216	100.6
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Assets at Fair Value	0	0
Total Liabilities at Fair Value	0	0
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Assets at Fair Value	369.3	142.6
Total Liabilities at Fair Value	216	100.6
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Assets at Fair Value	0	0
Total Liabilities at Fair Value	0	0
Forward exchange contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	98	100.8
Derivative liabilities	167.7	59.2
Forward exchange contracts | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	0	0
Derivative liabilities	0	0
Forward exchange contracts | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	98	100.8
Derivative liabilities	167.7	59.2
Forward exchange contracts | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	0	0
Derivative liabilities	0	0
Interest Rate Management Contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	271.3	41.8
Derivative liabilities	48.3	41.4
Interest Rate Management Contracts | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	0	0
Derivative liabilities	0	0
Interest Rate Management Contracts | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	271.3	41.8
Derivative liabilities	48.3	41.4
Interest Rate Management Contracts | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	0	0
Derivative liabilities	$ 0	$ 0

Retirement Benefits (Narrative)

Retirement Benefits (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Sep. 30, 2024
Defined Benefit Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Company contributions	$ 8.2	$ 12	$ 34.7
Defined Benefit Pension Plan | Minimum
Defined Benefit Plan Disclosure [Line Items]
Total expected contributions for current fiscal year	30
Defined Benefit Pension Plan | Maximum
Defined Benefit Plan Disclosure [Line Items]
Total expected contributions for current fiscal year	40
Other Postretirement Benefits Plan
Defined Benefit Plan Disclosure [Line Items]
Amortization of actuarial gain	$ 0.3	$ 0.1

Retirement Benefits (Schedule o

Retirement Benefits (Schedule of Net Periodic Benefit Cost) (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other non-operating income (expense), net	Other non-operating income (expense), net
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 5.2	$ 5.2
Interest cost	43.8	48.5
Expected return on plan assets	(47.9)	(41.6)
Prior service cost amortization	0.5	0.5
Actuarial loss amortization	14.1	17.5
Other	0.1	0.1
Net Periodic Cost	15.8	30.2
U.S. | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	2.3	2.4
Interest cost	29.9	33.7
Expected return on plan assets	(33.2)	(30)
Prior service cost amortization	0.3	0.3
Actuarial loss amortization	11.7	14.3
Other	0	0
Net Periodic Cost	11	20.7
International | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	2.9	2.8
Interest cost	13.9	14.8
Expected return on plan assets	(14.7)	(11.6)
Prior service cost amortization	0.2	0.2
Actuarial loss amortization	2.4	3.2
Other	0.1	0.1
Net Periodic Cost	$ 4.8	$ 9.5

Commitments and Contingencies (

Commitments and Contingencies (Litigation and Environmental - Narrative) (Details) R$ in Millions	1 Months Ended	3 Months Ended
	Sep. 30, 2010 BRL (R$)	Dec. 31, 2024 USD ($)	Dec. 31, 2024 BRL (R$) site	Dec. 31, 2024 USD ($) site	Sep. 30, 2024 USD ($)
Alleged Anticompete Litigation
Loss Contingencies [Line Items]
Civil fines imposed	R$ 179.2	$ 29,000,000
Provision for litigation		$ 0
Maximum of loss contingency range subject to interest			R$ 179.2	$ 29,000,000
Environmental
Loss Contingencies [Line Items]
Approximate number of sites on which settlement has not been reached | site			26	26
Accrual for environmental loss contingencies				$ 79,600,000	$ 79,100,000
Accrual for environmental loss contingencies, maximum payout period			30 years	30 years
Environmental | Minimum
Loss Contingencies [Line Items]
Estimate of possible exposure from environmental loss contingencies				$ 79,000,000
Environmental | Maximum
Loss Contingencies [Line Items]
Estimate of possible exposure from environmental loss contingencies				$ 92,000,000

Commitments and Contingencies_2

Commitments and Contingencies (Pace and Pasadena - Narrative) (Details) $ in Millions	12 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2020 USD ($)	Sep. 30, 2012 USD ($) surfaceImpoundmentUnit	Sep. 30, 2006 USD ($)	Dec. 31, 2024 USD ($)
Environmental
Loss Contingencies [Line Items]
Accrual for environmental loss contingencies	$ 79.1				$ 79.6
Site Contingency, Cost Review, Period					5 years
Accrual for environmental loss contingencies, maximum payout period					30 years
Pace, Florida
Loss Contingencies [Line Items]
Accrual for environmental loss contingencies				$ 42	$ 54.5
Change in estimated exposure	19	$ 19
Pace, Florida | Environmental
Loss Contingencies [Line Items]
Accrual for environmental loss contingencies, maximum payout period					30 years
Pace, Florida | Discontinued operations
Loss Contingencies [Line Items]
Pretax environmental expense	$ 19	$ 19		$ 42
Pasadena, Texas
Loss Contingencies [Line Items]
Accrual for environmental loss contingencies					$ 10.2
Number of closed facilities | surfaceImpoundmentUnit			2
Total anticipated exposure			$ 13

Share-Based Compensation (Narra

Share-Based Compensation (Narrative) (Details)	3 Months Ended
	Dec. 31, 2024 $ / shares shares
Market-Based Deferred Stock Unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units/shares granted	78,770
Performance period	3 years
Weighted average grant date fair value (in dollars per unit/share) | $ / shares	$ 480.94
Time-Based Deferred Stock Unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units/shares granted	106,098
Weighted average grant date fair value (in dollars per unit/share) | $ / shares	$ 334.52
LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future grant	800,000

Share-Based Compensation (Compe

Share-Based Compensation (Compensation Cost Recognized in Income Statement) (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Share-based Payment Arrangement, Additional Disclosure [Abstract]
Before-tax share-based compensation cost	$ 16.5	$ 13.6
Income tax benefit	(4)	(3.3)
After-tax share-based compensation cost	$ 12.5	$ 10.3

Share-Based Compensation (Marke

Share-Based Compensation (Market-Based Deferred Stock Unit Valuation Assumptions) (Details) - Market-Based Deferred Stock Unit	3 Months Ended
	Dec. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	30.40%
Risk-free interest rate	4.10%
Expected dividend yield	2.10%

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Rollforward) (Details) - USD ($) $ in Millions		3 Months Ended
		Dec. 31, 2024	Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance		$ 18,673.7	$ 15,660.3
Other comprehensive income (loss) before reclassifications		(558.3)
Amounts reclassified from AOCL		102.9
Net current period other comprehensive income (loss)		(455.4)	191
Amount attributable to noncontrolling interests		103.1	(138.1)
Ending balance		18,738.7	16,129.1
Derivatives qualifying as hedges
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance		27.2
Other comprehensive income (loss) before reclassifications		65.7
Amounts reclassified from AOCL		91.9
Net current period other comprehensive income (loss)		157.6
Amount attributable to noncontrolling interests		119.6
Ending balance		65.2
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance		(1,545.3)
Other comprehensive income (loss) before reclassifications		(624)
Amounts reclassified from AOCL		0
Net current period other comprehensive income (loss)		(624)
Amount attributable to noncontrolling interests		(16.5)
Ending balance		(2,152.8)
Pension and postretirement benefits
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance		(509.6)
Other comprehensive income (loss) before reclassifications		0
Amounts reclassified from AOCL		11
Net current period other comprehensive income (loss)		11
Amount attributable to noncontrolling interests		0
Ending balance		(498.6)
AOCL attributable to Air Products
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	[1]	(2,027.7)	(2,449.4)
Net current period other comprehensive income (loss)	[1]	(558.5)	329.1
Ending balance	[1]	$ (2,586.2)	$ (2,120.3)
[1] (A) Accumulated other comprehensive loss

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss (Reclassification) (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Sales	$ (2,931.5)	$ (2,997.4)
Cost of sales	2,016.5	2,067.2
Other non-operating income (expense), net	(38.9)	14.8
Net Income attributable to Air Products	(617.4)	(609.3)
Reclassification out of Accumulated Other Comprehensive Income | Loss (Gain) on Cash Flow Hedges, net of tax
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Sales	0.2	0.2
Cost of sales	0.8	1
Interest expense	0.3	0.8
Other non-operating income (expense), net	90.6	(44.2)
Net Income attributable to Air Products	91.9	(42.2)
Reclassification out of Accumulated Other Comprehensive Income | Pension and Postretirement Benefits, net of tax
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net Income attributable to Air Products	$ 11	$ 13.7

Earnings Per Share (Schedule of

Earnings Per Share (Schedule of Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Numerator
Net income attributable to Air Products	$ 617.4	$ 609.3
Denominator (in millions)
Weighted average common shares — Basic (in shares)	222.7	222.5
Effect of dilutive securities
Employee stock option and other award plans (in shares)	0.2	0.3
Weighted average common shares — Diluted (in shares)	222.9	222.8
Per Share Data (U.S. Dollars per share)
Basic earnings per share attributable to Air Products (in dollars per share)	$ 2.77	$ 2.74
Diluted earnings per share attributable to Air Products (in dollars per share)	$ 2.77	$ 2.73

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares shares in Millions	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Earnings Per Share [Abstract]
Antidilutive share-based awards excluded from computation of diluted earnings per share (in shares)	0.1	0

Supplemental Information (Relat

Supplemental Information (Related Party Transactions) (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Sep. 30, 2024
Related Party Transaction [Line Items]
Sales and other income	$ 80	$ 95
Trade receivables, net	1,807.4		$ 1,821.6
Current portion of long-term debt	1,131.4		611.4
Related Party
Related Party Transaction [Line Items]
Trade receivables, net	185		120
Total debt	292.7		304.4
Current portion of long-term debt	$ 192.3		$ 200

Supplemental Information (Share

Supplemental Information (Shareholder Activism Costs) (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Disclosure Text Block Supplement [Abstract]
Legal and other professional service fees in connection with response to proxy contest	$ 29.9	$ 0
Legal and other professional service fees in connection with response to proxy contest, after tax	21.9
Accrued legal and other professional service fees, current	$ 15.4

Supplemental Information (Uzbek

Supplemental Information (Uzbekistan Asset Purchase) (Details) - USD ($) $ in Millions	May 25, 2023	Dec. 31, 2024	Sep. 30, 2024
Asset Acquisition [Line Items]
Financing receivables		$ 1,245.4	$ 1,220.2
Natural Gas-To-Syngas Processing Facility
Asset Acquisition [Line Items]
Price of acquisition	$ 1,000
Term of project agreement (in years)	15 years
Financing receivables		$ 945	$ 920

Supplemental Information (Accru

Supplemental Information (Accrual for Business and Asset Actions) (Details) position in Millions, $ in Millions	3 Months Ended		21 Months Ended
	Dec. 31, 2024 USD ($)	Sep. 30, 2024 USD ($) position	Dec. 31, 2024 USD ($)
Disclosure Text Block Supplement [Abstract]
Charge for severance and other postemployment benefits			$ 84
Number of employees to whom involuntary termination benefits are payable | position		1,100
Restructuring Reserve [Roll Forward]
Amount accrued	$ 22.3	$ 34	$ 22.3
Amount accrued as of 30 September 2024	34
Cash payments	(10.4)
Currency translation adjustment	$ (1.3)

Supplemental Information (Chang

Supplemental Information (Changes in Estimates) (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Change in Accounting Estimate [Line Items]
Operating income (loss)	$ 643.6	$ 666.9
Contracts accounted for under percentage of completion
Change in Accounting Estimate [Line Items]
Operating income (loss)	$ 28	$ 30

Supplemental Information (Incom

Supplemental Information (Income Taxes) (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Disclosure Text Block Supplement [Abstract]
Effective tax rate	17.80%	17.90%
Income tax payments, net of refunds	$ 123.6	$ 90.1

Business Segment Information (S

Business Segment Information (Schedule of Segment Reporting Information) (Details) - USD ($) $ in Millions		3 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Sep. 30, 2024
Segment Reporting Information [Line Items]
Sales		$ 2,931.5	$ 2,997.4
Operating income (loss)		643.6	666.9
Depreciation and amortization		366.8	349.2
Equity affiliates' income		150.6	158.4
Total Assets	[1]	40,017.2		$ 39,574.6
Operating Segments
Segment Reporting Information [Line Items]
Sales		2,931.5	2,997.4
Operating income (loss)		673.5	666.9
Depreciation and amortization		366.8	349.2
Equity affiliates' income		150.6	158.4
Total Assets		40,017.2		39,574.6
Americas | Operating Segments
Segment Reporting Information [Line Items]
Sales		1,287.6	1,252.1
Operating income (loss)		388.2	354.4
Depreciation and amortization		173.4	169.7
Equity affiliates' income		35.1	37.1
Total Assets		12,796.2		12,383.8
Asia | Operating Segments
Segment Reporting Information [Line Items]
Sales		817.1	793.8
Operating income (loss)		216.4	211.2
Depreciation and amortization		122.9	111.8
Equity affiliates' income		10.3	4.2
Total Assets		7,153.1		7,436.5
Europe | Operating Segments
Segment Reporting Information [Line Items]
Sales		697.2	731.2
Operating income (loss)		186.5	197.6
Depreciation and amortization		54.5	48.2
Equity affiliates' income		18.2	20.7
Total Assets		5,760.9		5,849.2
Middle East and India | Operating Segments
Segment Reporting Information [Line Items]
Sales		32.8	35.4
Operating income (loss)		(0.6)	3.9
Depreciation and amortization		6.5	6.6
Equity affiliates' income		85	92.9
Total Assets		9,586		8,477.4
Corporate and other | Operating Segments
Segment Reporting Information [Line Items]
Sales		96.8	184.9
Operating income (loss)		(117)	(100.2)
Depreciation and amortization		9.5	12.9
Equity affiliates' income		2	$ 3.5
Total Assets		$ 4,721		$ 5,427.7
[1] Includes balances associated with a consolidated variable interest entity ("VIE"), including amounts reflected in "Total Assets" that can only be used to settle obligations of the VIE of $5,692.4 and $4,393.9 as of 31 December 2024 and 30 September 2024, respectively, as well as liabilities of the VIE reflected within "Total Liabilities" for which creditors do not have recourse to the general credit of Air Products of $3,994.1 and $3,473.4 as of 31 December 2024 and 30 September 2024, respectively. Refer to Note 3, Variable Interest Entities , for additional information regarding the NEOM Green Hydrogen Company joint venture.

Business Segment Information (R

Business Segment Information (Reconciliation of Operating Income) (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Operating income (loss)	$ 643.6	$ 666.9
Shareholder activism costs	(29.9)	0
Operating Segments
Segment Reporting Information [Line Items]
Operating income (loss)	$ 673.5	$ 666.9