Document_Entity_Information
Document Entity Information (USD $) | 12 Months Ended | ||
In Billions, except Share data, unless otherwise specified | Sep. 30, 2013 | Oct. 31, 2013 | Mar. 31, 2013 |
Document And Entity Information [Abstract] | ' | ' | ' |
Entity Registrant Name | 'AIR PRODUCTS & CHEMICALS INC /DE/ | ' | ' |
Entity Central Index Key | '0000002969 | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 30-Sep-13 | ' | ' |
Amendment Flag | 'false | ' | ' |
Current Fiscal Year End Date | '--09-30 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
EntityCurrentReportingStatus | 'Yes | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
EntityVoluntaryFiler | 'No | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 211,275,654 | ' |
Entity Public Float | ' | ' | $18.10 |
Consolidated_Income_Statements
Consolidated Income Statements (USD $) | 12 Months Ended | |||||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |||
Consolidated Income Statements [Abstract] | ' | ' | ' | |||
Sales | $10,180.40 | $9,611.70 | $9,673.70 | |||
Cost of sales | 7,472.10 | 7,051.90 | 7,098.30 | |||
Selling and administrative | 1,066.30 | 946.8 | 941.7 | |||
Research and development | 133.7 | 126.4 | 118.8 | |||
Business restructuring and cost reduction plans | 231.6 | [1] | 327.4 | [1] | 0 | [1] |
Gain on previously held equity interest | 0 | 85.9 | 0 | |||
Net loss on Airgas transaction | 0 | 0 | 48.5 | |||
Customer bankruptcy | 0 | 9.8 | 0 | |||
Pension settlement loss | 12.4 | 0 | 0 | |||
Advisory costs | 10.1 | 0 | 0 | |||
Other income (expense), net | 70.2 | 47.1 | 41.7 | |||
Operating Income | 1,324.40 | 1,282.40 | 1,508.10 | |||
Equity affiliates' income | 167.8 | 153.8 | 154.3 | |||
Interest expense | 141.8 | 123.7 | 115.5 | |||
Income from Continuing Operations before Taxes | 1,350.40 | 1,312.50 | 1,546.90 | |||
Income tax provision | 307.9 | 287.3 | 375.3 | |||
Income from Continuing Operations | 1,042.50 | 1,025.20 | 1,171.60 | |||
Income (loss) from Discontinued Operations, net of tax | -10 | 168.1 | 89.9 | |||
Net Income | 1,032.50 | 1,193.30 | 1,261.50 | |||
Less: Net Income Attributable to Noncontrolling Interests | 38.3 | 26 | 37.3 | |||
Net Income Attributable to Air Products | 994.2 | 1,167.30 | 1,224.20 | |||
Net Income Attributable to Air Products | ' | ' | ' | |||
Income from continuing operations | 1,004.20 | 999.2 | 1,134.30 | |||
Income (loss) from discontinued operations | -10 | 168.1 | 89.9 | |||
Net Income Attributable to Air Products | $994.20 | $1,167.30 | $1,224.20 | |||
Basic Earnings Per Common Share Attributable to Air Products | ' | ' | ' | |||
Income from continuing operations | $4.79 | $4.73 | $5.33 | |||
Income (loss) from discontinued operations | ($0.05) | $0.80 | $0.42 | |||
Net Income Attributable to Air Products | $4.74 | $5.53 | $5.75 | |||
Diluted Earnings Per Common Share Attributable to Air Products | ' | ' | ' | |||
Income from continuing operations | $4.73 | $4.66 | $5.22 | |||
Income (loss) from discontinued operations | ($0.05) | $0.78 | $0.41 | |||
Net Income Attributable to Air Products | $4.68 | $5.44 | $5.63 | |||
Weighted Average of Common Shares Outstanding (in millions) | 209.7 | 211.2 | 213 | |||
Weighted Average of Common Shares Outstanding Assuming Dilution (in millions) | 212.3 | 214.7 | 217.6 | |||
[1] | Information about how this charge related to the businesses at the segment level is discussed in Note 4, Business Restructuring and Cost Reduction Plans. |
Consolidated_Comprehensive_Inc
Consolidated Comprehensive Income Statement (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Other Comprehensive Income (Loss), net of tax [Abstract] | ' | ' | ' |
Net Income | $1,032.50 | $1,193.30 | $1,261.50 |
Translation adjustments, net of tax | -25 | 84.6 | -82.8 |
Net gain (loss) on derivatives, net of tax | 35 | -21.8 | 0.8 |
Unrealized holding gain (loss) on available-for-sale securities, net of tax | 0 | 0 | -4.6 |
Pension and postretirement benefits, net of tax | 231.9 | -246 | -66.6 |
Reclassification Adjustments [Abstract] | ' | ' | ' |
Currency translation adjustment | 0.6 | 13.3 | 0.4 |
Derivatives, net of tax | -20.2 | 12.4 | 11.5 |
Available-for-sale securities, net of tax | 0 | 0 | -16.1 |
Pension and postretirement benefits, net of tax | 104.9 | 67 | 67.7 |
Total Other Comprehensive Income (Loss) | 327.2 | -90.5 | -89.7 |
Comprehensive Income | 1,359.70 | 1,102.80 | 1,171.80 |
Net income attributable to noncontrolling interests | 38.3 | 26 | 37.3 |
Other Comprehensive Income Attributable to Noncontrolling Interests | -1 | 4.9 | 4.3 |
Comprehensive Income Attributable to Air Products | $1,322.40 | $1,071.90 | $1,130.20 |
Consolidated_Comprehensive_Inc1
Consolidated Comprehensive Income Statements (Parenthetical) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Consolidated Comprehensive Income Statements [Abstract] | ' | ' | ' |
Tax effect on translation adjustments | ($44.80) | $8.90 | $9.90 |
Tax effect on net gain (loss) on derivatives | 14.5 | -9.8 | 0.2 |
Tax effect on unrealized holding gain (loss) on available-for-sale securities | 0 | 0 | -3.3 |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Before Reclassification Adjustments Tax | 154.8 | -124.6 | -59.2 |
Tax effect on derivatives reclassified to earnings | -5.5 | 5 | 3.4 |
Tax effect on available for sale securities | 0 | 0 | -9.3 |
Tax effect on pension and post retirement benefits reclassified | $55.90 | $36.50 | $35.10 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Current Assets | ' | ' |
Cash and cash items | $450.40 | $454.40 |
Trade receivables, net | 1,544.30 | 1,544.70 |
Inventories | 706.1 | 786.6 |
Contracts in progress, less progress billings | 182.3 | 190.8 |
Prepaid expenses | 121.1 | 81.7 |
Other receivables and current assets | 432.4 | 342 |
Current assets of discontinued operations | 2.5 | 15.6 |
Total Current Assets | 3,439.10 | 3,415.80 |
Investment in net assets of and advances to equity affiliates | 1,195.50 | 1,175.70 |
Plant and Equipment, net | 8,974 | 8,240.60 |
Goodwill | 1,653.80 | 1,598.40 |
Intangible assets, net | 717.3 | 761.6 |
Noncurrent capital lease receivables | 1,476.90 | 1,328.90 |
Other noncurrent assets | 393.5 | 393.6 |
Noncurrent assets of discontinued operations | 0 | 27.2 |
Total Noncurrent Assets | 14,411 | 13,526 |
Total Assets | 17,850.10 | 16,941.80 |
Current Liabilities | ' | ' |
Payables and accrued liabilities | 1,944.90 | 1,927.70 |
Accrued income taxes | 63 | 48.5 |
Short-term borrowings | 709.9 | 633.4 |
Current portion of long-term debt | 507.4 | 74.3 |
Current liabilities of discontinued operations | 2.4 | 6 |
Total Current Liabilities | 3,227.60 | 2,689.90 |
Long-term debt | 5,056.30 | 4,584.20 |
Other noncurrent liabilities | 1,164.30 | 1,980.90 |
Deferred income taxes | 827.2 | 670.8 |
Noncurrent liabilities of discontinued operations | 0 | 0.2 |
Total Noncurrent Liabilities | 7,047.80 | 7,236.10 |
Total Liabilities | 10,275.40 | 9,926 |
Commitments and Contingencies - See Note 17 | ' | ' |
Redeemable noncontrolling interest | 375.8 | 392.5 |
Air Products Shareholders' Equity | ' | ' |
Common stock (par value $1 per share; issued 2013 and 2012-249,455,584 shares) | 249.4 | 249.4 |
Capital in excess of par value | 799.2 | 810.5 |
Retained earnings | 9,646.40 | 9,234.50 |
Accumulated other comprehensive loss | -1,020.60 | -1,348.80 |
Treasury stock, at cost (2013 - 38,276,327 shares; 2012 - 36,979,704 shares) | -2,632.30 | -2,468.40 |
Total Air Products Shareholders' Equity | 7,042.10 | 6,477.20 |
Noncontrolling Interests | 156.8 | 146.1 |
Total Equity | 7,198.90 | 6,623.30 |
Total Liabilities and Equity | $17,850.10 | $16,941.80 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
Air Products Shareholder's Equity [Abstract] | ' | ' |
Common stock, par value | $1 | $1 |
Common stock, issued shares | 249,455,584 | 249,455,584 |
Treasury stock, shares | 38,276,327 | 36,979,704 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Operating Activities | ' | ' | ' |
Net Income | $1,032.50 | $1,193.30 | $1,261.50 |
Less: Net income attributable to noncontrolling interests | 38.3 | 26 | 37.3 |
Net Income Attributable to Air Products | 994.2 | 1,167.30 | 1,224.20 |
(Income) loss from discontinued operations | 10 | -168.1 | -89.9 |
Income from continuing operations attributable to Air Products | 1,004.20 | 999.2 | 1,134.30 |
Adjustments to reconcile income to cash provided by operating activities: | ' | ' | ' |
Depreciation and amortization | 907 | 840.8 | 834.3 |
Deferred income taxes | 12.8 | 65.2 | 185.7 |
Benefit from Spanish tax ruling | 0 | -58.3 | 0 |
Gain on previously held equity interest | 0 | -85.9 | 0 |
Undistributed earnings of unconsolidated affiliates | -59.2 | -53.6 | -47.5 |
Gain on sale of assets and investments | -20 | -8.4 | -14.6 |
Share-based compensation | 43.5 | 43.8 | 44.8 |
Noncurrent capital lease receivables | -151.4 | -282.5 | -272.5 |
Net loss on Airgas transaction | 0 | 0 | 48.5 |
Payment of Airgas acquisition-related costs | 0 | 0 | -156.2 |
Write-down of long-lived assets associated with restructuring/customer bankruptcy | 100.4 | 80.2 | 0 |
Other adjustments | -76.4 | 124.5 | 68.2 |
Working capital changes that provided (used) cash, excluding effects of acquisitions and divestitures: | ' | ' | ' |
Trade receivables | 4.8 | -55.1 | -53.8 |
Inventories | 75 | 1.3 | -107.5 |
Contracts in progress, less progress billings | -16.2 | -42.9 | 16.7 |
Other receivables | -77 | -18.3 | 8 |
Payables and accrued liabilities | -130.3 | 249.7 | -29.8 |
Other working capital | -64.1 | -34.6 | 51.8 |
Cash Provided by Operating Activities | 1,553.10 | 1,765.10 | 1,710.40 |
Investing Activities | ' | ' | ' |
Additions to plant and equipment | -1,524.20 | -1,521 | -1,309.30 |
Acquisitions, less cash acquired | -224.9 | -863.4 | -10.8 |
Investment in and advances to unconsolidated affiliates | ' | -175.4 | -45.8 |
Proceeds from collection of advance to affiliate | 1.3 | ' | ' |
Proceeds from sale of Airgas stock | 0 | 0 | 94.7 |
Proceeds from sale of assets and investments | 52.8 | 52.5 | 81.6 |
Change in restricted cash | 0 | 76.1 | 19.8 |
Other investing activities | -2 | -4 | 0 |
Cash Used for Investing Activities | -1,697 | -2,435.20 | -1,169.80 |
Financing Activities | ' | ' | ' |
Long-term debt proceeds | 927.2 | 900.4 | 409.8 |
Payments on long-term debt | -437.5 | -490.6 | -187.1 |
Net increase (decrease) in commercial paper and short-term borrowings | 437.7 | 9.8 | 234.3 |
Dividends paid to shareholders | -565.6 | -514.9 | -456.7 |
Purchase of treasury shares | -461.6 | -53.1 | -649.2 |
Proceeds from stock option exercises | 226.4 | 124.3 | 148.2 |
Excess tax benefit from share-based compensation | 37.9 | 31 | 47.6 |
Payment for subsidiary shares from noncontrolling interests | -14 | -58.4 | 0 |
Other financing activities | -35.1 | -26.9 | -31.5 |
Cash Provided By (Used for) Financing Activities | 115.4 | -78.4 | -484.6 |
Discontinued Operations | ' | ' | ' |
Cash provided by operating activities | 14.3 | 33.6 | 42.8 |
Cash provided by (used for) investing activities | -1.2 | 765.4 | -42.4 |
Cash provided by (used for) financing activities | 0 | 0 | 0.1 |
Cash Provided by (Used for) Discontinued Operations | 13.1 | 799 | 0.5 |
Effect of Exchange Rate Changes on Cash | 11.4 | -18.6 | -8.3 |
Increase (Decrease) in Cash and Cash Items | -4 | 31.9 | 48.2 |
Cash and Cash Items - Beginning of Year | 454.4 | 422.5 | 374.3 |
Cash and Cash Items - End of Period | 450.4 | 454.4 | 422.5 |
Less: Cash and Cash Items - Discontinued Operations | 0 | 0 | 1.1 |
Cash and Cash Items - Continuing Operations | $450.40 | $454.40 | $421.40 |
Consolidated_Statements_of_Equ
Consolidated Statements of Equity (USD $) | Total | Common Stock [Member] | Capital in Excess of Par [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Loss [Member] | Treasury Stock [Member] | Air Products Shareholders' Equity [Member] | Noncontrolling Interests [Member] |
In Millions | ||||||||
Balance, beginning of period at Sep. 30, 2010 | $5,697.60 | $249.40 | $802.20 | $7,852.20 | ($1,159.40) | ($2,197.50) | $5,546.90 | $150.70 |
Net Income | 1,261.50 | ' | ' | 1,224.20 | ' | ' | 1,224.20 | 37.3 |
Other comprehensive income (loss) | -89.7 | ' | ' | ' | -94 | ' | -94 | 4.3 |
Cash Dividends | -473.8 | ' | ' | -473.8 | ' | ' | -473.8 | ' |
Share-based compensation expense | 44.8 | ' | 44.8 | ' | ' | ' | 44.8 | ' |
Purchase of treasury shares | -649.2 | ' | ' | ' | ' | -649.2 | -649.2 | ' |
Issuance of treasury shares for stock option and award plans | 142.8 | ' | -98.6 | ' | ' | 241.4 | 142.8 | ' |
Tax benefit of stock option and award plans | 63.7 | ' | 63.7 | ' | ' | ' | 63.7 | ' |
Dividends to noncontrolling interests | -31.4 | ' | ' | ' | ' | ' | ' | -31.4 |
Purchase of noncontrolling interests | -6.1 | ' | -6.1 | ' | ' | ' | -6.1 | ' |
Contribution from noncontrolling interests | 1.4 | ' | ' | ' | ' | ' | ' | 1.4 |
Other | -22.9 | ' | -0.4 | -3.1 | ' | ' | -3.5 | -19.4 |
Balance, end of period at Sep. 30, 2011 | 5,938.70 | 249.4 | 805.6 | 8,599.50 | -1,253.40 | -2,605.30 | 5,795.80 | 142.9 |
Net Income | 1,195.70 | ' | ' | 1,167.30 | ' | ' | 1,167.30 | 28.4 |
Other comprehensive income (loss) | -90.5 | ' | ' | ' | -95.4 | ' | -95.4 | 4.9 |
Cash Dividends | -529 | ' | ' | -529 | ' | ' | -529 | ' |
Share-based compensation expense | 43.4 | ' | 43.4 | ' | ' | ' | 43.4 | ' |
Purchase of treasury shares | -53.1 | ' | ' | ' | ' | -53.1 | -53.1 | ' |
Issuance of treasury shares for stock option and award plans | 115.4 | ' | -74.6 | ' | ' | 190 | 115.4 | ' |
Tax benefit of stock option and award plans | 38.6 | ' | 38.6 | ' | ' | ' | 38.6 | ' |
Indura business combination | 14.8 | ' | ' | ' | ' | ' | ' | 14.8 |
Dividends to noncontrolling interests | -26.7 | ' | ' | ' | ' | ' | ' | -26.7 |
Purchase of noncontrolling interests | -6.3 | ' | -4.4 | ' | ' | ' | -4.4 | -1.9 |
Contribution from noncontrolling interests | 0 | ' | ' | ' | ' | ' | 0 | ' |
Other | -17.7 | ' | 1.9 | -3.3 | ' | ' | -1.4 | -16.3 |
Balance, end of period at Sep. 30, 2012 | 6,623.30 | 249.4 | 810.5 | 9,234.50 | -1,348.80 | -2,468.40 | 6,477.20 | 146.1 |
Net Income | 1,024.40 | ' | ' | 994.2 | ' | ' | 994.2 | 30.2 |
Other comprehensive income (loss) | 327.2 | ' | ' | ' | 328.2 | ' | 328.2 | -1 |
Cash Dividends | -579.6 | ' | ' | -579.6 | ' | ' | -579.6 | ' |
Share-based compensation expense | 43.5 | ' | 43.5 | ' | ' | ' | 43.5 | ' |
Purchase of treasury shares | -461.6 | ' | ' | ' | ' | -461.6 | -461.6 | ' |
Issuance of treasury shares for stock option and award plans | 210.3 | ' | -87.4 | ' | ' | 297.7 | 210.3 | ' |
Tax benefit of stock option and award plans | 35.5 | ' | 35.5 | ' | ' | ' | 35.5 | ' |
Indura business combination | 0 | ' | ' | ' | ' | ' | ' | ' |
Dividends to noncontrolling interests | -18.4 | ' | ' | ' | ' | ' | ' | -18.4 |
Purchase of noncontrolling interests | -2.9 | ' | -2.9 | ' | ' | ' | -2.9 | ' |
Other | -2.8 | ' | ' | -2.7 | ' | ' | -2.7 | -0.1 |
Balance, end of period at Sep. 30, 2013 | $7,198.90 | $249.40 | $799.20 | $9,646.40 | ($1,020.60) | ($2,632.30) | $7,042.10 | $156.80 |
Consolidated_Statements_of_Equ1
Consolidated Statements of Equity (Parenthetical) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |
Statement of Stockholders' Equity [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends per share | $0.71 | $0.71 | $0.71 | $0.64 | $0.64 | $0.64 | $0.64 | $0.58 | $2.77 | $2.50 | $2.23 |
Major_Accounting_Policies
Major Accounting Policies | 12 Months Ended |
Sep. 30, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Basis of Presentation and Major Accounting Policies | ' |
1. MAJOR ACCOUNTING POLICIES | |
Basis of Presentation and Consolidation Principles | |
The accompanying consolidated financial statements of Air Products and Chemicals, Inc. were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and include the accounts of Air Products and Chemicals, Inc. and those of its controlled subsidiaries (“we,” “our,” “us,” the “Company,” “Air Products,” or “registrant”), which are generally majority owned. Intercompany transactions and balances are eliminated in consolidation. | |
We consolidate all entities that we control. The general condition for control is ownership of a majority of the voting interests of an entity. Control may also exist in arrangements where we are the primary beneficiary of a variable interest entity (VIE). An entity that will have both the power to direct the activities that most significantly impact the economic performance of the VIE and the obligation to absorb the losses or receive the benefits significant to the VIE is considered a primary beneficiary of that entity. We have determined that we are not a primary beneficiary in any material VIE. | |
Certain prior year information has been reclassified to conform to the 2013 presentation. | |
Estimates and Assumptions | |
The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. | |
Revenue Recognition | |
Revenue from product sales is recognized as risk and title to the product transfer to the customer (which generally occurs at the time shipment is made), the sales price is fixed or determinable, and collectability is reasonably assured. Sales returns and allowances are not a business practice in the industry. | |
Revenue from equipment sale contracts is recorded primarily using the percentage-of-completion method. Under this method, revenue from the sale of major equipment, such as liquefied natural gas (LNG) heat exchangers and large air separation units, is recognized primarily based on labor hours incurred to date compared with total estimated labor hours. Changes to total estimated labor hours and anticipated losses, if any, are recognized in the period determined. | |
Certain contracts associated with facilities that are built to provide product to a specific customer are required to be accounted for as leases. In cases where operating lease treatment is necessary, there is no difference in revenue recognition over the life of the contract as compared to accounting for the contract as product sales. In cases where capital lease treatment is necessary, the timing of revenue and expense recognition is impacted. Revenue and expense are recognized up front for the sale of equipment component of the contract as compared to revenue recognition over the life of the arrangement under contracts not qualifying as capital leases. Additionally, a portion of the revenue representing interest income from the financing component of the lease receivable is reflected as sales over the life of the contract. Allowances for credit losses associated with capital lease receivables are recorded using the specific identification method. As of 30 September 2013, the credit quality of capital lease receivables did not require a material allowance for credit losses. | |
If an arrangement involves multiple deliverables, the delivered items are considered separate units of accounting if the items have value on a stand-alone basis. Revenues are allocated to each deliverable based upon relative selling prices derived from company specific evidence. | |
Amounts billed for shipping and handling fees are classified as sales in the consolidated income statements. | |
Amounts billed for sales and use taxes, value-added taxes, and certain excise and other specific transactional taxes imposed on revenue-producing transactions are presented on a net basis and excluded from sales in the consolidated income statements. We record a liability until remitted to the respective taxing authority. | |
Cost of Sales | |
Cost of sales predominantly represents the cost of tangible products sold. These costs include labor, raw materials, plant engineering, power, depreciation, production supplies and materials packaging costs, and maintenance costs. Costs incurred for shipping and handling are also included in cost of sales. | |
Depreciation | |
Depreciation is recorded using the straight-line method, which deducts equal amounts of the cost of each asset from earnings every year over its expected economic useful life. The principal lives for major classes of plant and equipment are summarized in Note 9, Plant and Equipment, net. | |
Selling and Administrative | |
The principal components of selling and administrative expenses are salaries, advertising, and promotional costs. | |
Postemployment Benefits | |
When termination benefits provided to employees as part of a cost reduction plan, such as that discussed in Note 4, Business Restructuring and Cost Reduction Plans, meet the definition of an ongoing benefit arrangement, a liability is recognized for termination benefits when probable and estimable. These criteria are met when management, with the appropriate level of authority, approves and commits to its plan of action for termination; the plan identifies the employees to be terminated and their related benefits; and the plan is to be completed within one year. During periods of operations where terminations are made on an as-needed basis, absent a detailed committed plan, terminations are accounted for on an individual basis and a liability is recognized when probable and estimable. We have severance policies and plans for eligible employees. | |
Fair Value Measurements | |
We are required to measure certain assets and liabilities at fair value, either upon initial measurement or for subsequent accounting or reporting. For example, fair value is used in the initial measurement of net assets acquired in a business combination; on a recurring basis in the measurement of derivative financial instruments; and on a nonrecurring basis when long-lived assets are written down to fair value when held for sale or determined to be impaired. Refer to Note 14, Fair Value Measurements, for information on the methods and assumptions used in our fair value measurements. | |
Financial Instruments | |
We address certain financial exposures through a controlled program of risk management that includes the use of derivative financial instruments. The types of derivative financial instruments permitted for such risk management programs are specified in policies set by management. Refer to Note 13, Financial Instruments, for further detail on the types and use of derivative instruments that we enter into. | |
Major financial institutions are counterparties to all of these derivative contracts. We have established counterparty credit guidelines and only enter into transactions with financial institutions of investment grade or better. Management believes the risk of incurring losses related to credit risk is remote, and any losses would be immaterial to the consolidated financial results, financial condition, or liquidity. | |
We recognize derivatives on the balance sheet at fair value. On the date the derivative instrument is entered into, we generally designate the derivative as either (1) a hedge of a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability (cash flow hedge), (2) a hedge of a net investment in a foreign operation (net investment hedge), or (3) a hedge of the fair value of a recognized asset or liability or of an unrecognized firm commitment (fair value hedge). | |
The following details the accounting treatment of our cash flow, fair value, net investment, and non-designated hedges: | |
• Changes in the fair value of a derivative that is designated as and meets the cash flow hedge criteria are recorded in Accumulated Other Comprehensive Income (AOCI) to the extent effective and then recognized in earnings when the hedged items affect earnings. | |
• Changes in the fair value of a derivative that is designated as and meets all the required criteria for a fair value hedge, along with the gain or loss on the hedged asset or liability that is attributable to the hedged risk, are recorded in current period earnings. | |
• Changes in the fair value of a derivative, foreign currency debt, and qualifying intercompany loans that are related to an outstanding borrowing from a third party that are designated as and meet all the required criteria for a hedge of a net investment are recorded as translation adjustments in AOCI. | |
• Changes in the fair value of a derivative that is not designated as a hedge are recorded immediately in earnings. | |
We formally document the relationships between hedging instruments and hedged items, as well as our risk management objective and strategy for undertaking various hedge transactions. This process includes relating derivatives that are designated as fair value or cash flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. We also formally assess, at the inception of the hedge and on an ongoing basis, whether derivatives are highly effective in offsetting changes in fair values or cash flows of the hedged item. If it is determined that a derivative is not highly effective as a hedge, or if a derivative ceases to be a highly effective hedge, we will discontinue hedge accounting with respect to that derivative prospectively. | |
Foreign Currency | |
Since we do business in many foreign countries, fluctuations in currency exchange rates affect our financial position and results of operations. | |
In most of our foreign operations, local currency is considered the functional currency. Foreign subsidiaries translate their assets and liabilities into U.S. dollars at current exchange rates in effect at the end of the fiscal period. The gains or losses that result from this process are shown as translation adjustments in AOCI in the equity section of the balance sheet. | |
The revenue and expense accounts of foreign subsidiaries are translated into U.S. dollars at the average exchange rates that prevail during the period. Therefore, the U.S. dollar value of these items on the income statement fluctuates from period to period, depending on the value of the dollar against foreign currencies. Some transactions are made in currencies different from an entity's functional currency. Gains and losses from these foreign currency transactions are generally included in other income (expense), net on our consolidated income statements as they occur. | |
Environmental Expenditures | |
Accruals for environmental loss contingencies are recorded when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. Remediation costs are capitalized if the costs improve the Company's property as compared with the condition of the property when originally constructed or acquired, or if the costs prevent environmental contamination from future operations. We expense environmental costs related to existing conditions resulting from past or current operations and from which no current or future benefit is discernible. The amounts charged to income from continuing operations related to environmental matters totaled $37.1 in fiscal 2013, $44.7 in 2012, and $34.0 in 2011. | |
The measurement of environmental liabilities is based on an evaluation of currently available information with respect to each individual site and considers factors such as existing technology, presently enacted laws and regulations, and prior experience in remediation of contaminated sites. An environmental liability related to cleanup of a contaminated site might include, for example, a provision for one or more of the following types of costs: site investigation and testing costs, cleanup costs, costs related to soil and water contamination resulting from tank ruptures, post-remediation monitoring costs, and outside legal fees. These liabilities include costs related to other potentially responsible parties to the extent that we have reason to believe such parties will not fully pay their proportionate share. They do not take into account any claims for recoveries from insurance or other parties and are not discounted. | |
As assessments and remediation progress at individual sites, the amount of projected cost is reviewed, and the liability is adjusted to reflect additional technical and legal information that becomes available. Management has an established process in place to identify and monitor the Company's environmental exposures. An environmental accrual analysis is prepared and maintained that lists all environmental loss contingencies, even where an accrual has not been established. This analysis assists in monitoring the Company's overall environmental exposure and serves as a tool to facilitate ongoing communication among the Company's technical experts, environmental managers, environmental lawyers, and financial management to ensure that required accruals are recorded and potential exposures disclosed. | |
Given inherent uncertainties in evaluating environmental exposures, actual costs to be incurred at identified sites in future periods may vary from the estimates. Refer to Note 17, Commitments and Contingencies, for additional information on the Company's environmental loss contingencies. | |
The accruals for environmental liabilities are reflected in the consolidated balance sheets, primarily as part of other noncurrent liabilities. | |
Litigation | |
In the normal course of business, we are involved in legal proceedings. We accrue a liability for such matters when it is probable that a liability has been incurred and the amount can be reasonably estimated. When only a range of possible loss can be established, the most probable amount in the range is accrued. If no amount within this range is a better estimate than any other amount within the range, the minimum amount in the range is accrued. The accrual for a litigation loss contingency includes estimates of potential damages and other directly related costs expected to be incurred. Refer to Note 17, Commitments and Contingencies, for additional information on our current legal proceedings. | |
Share-Based Compensation | |
We have various share-based compensation programs, which include stock options, deferred stock units, and restricted stock. We expense the grant-date fair value of these awards over the vesting period during which employees perform related services. Expense recognition is accelerated for retirement-eligible individuals who would meet the requirements for vesting of awards upon their retirement. We utilize a Black Scholes model to value stock option awards. Refer to Note 19, Share-Based Compensation, for further detail. | |
Income Taxes | |
We account for income taxes under the liability method. Under this method, deferred tax assets and liabilities are recognized for the tax effects of temporary differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates. A principal temporary difference results from the excess of tax depreciation over book depreciation because accelerated methods of depreciation and shorter useful lives are used for income tax purposes. The cumulative impact of a change in tax rates or regulations is included in income tax expense in the period that includes the enactment date. | |
A tax benefit for an uncertain tax position is recognized when it is more likely than not that the position will be sustained upon examination based on its technical merits. This position is measured as the largest amount of tax benefit that is greater than 50% likely of being realized. Interest and penalties related to unrecognized tax benefits are recognized as a component of income tax expense. For additional information regarding our income taxes, refer to Note 22, Income Taxes. | |
Cash and Cash Items | |
Cash and cash items include cash, time deposits, and certificates of deposit acquired with an original maturity of three months or less. | |
Trade Receivables, net | |
Trade receivables comprise amounts owed to us through our operating activities and are presented net of allowances for doubtful accounts. The allowances for doubtful accounts represent estimated uncollectible receivables associated with potential customer defaults on contractual obligations. A provision for customer defaults is made on a general formula basis when it is determined that the risk of some default is probable and estimable but cannot yet be associated with specific customers. The assessment of the likelihood of customer defaults is based on various factors, including the length of time the receivables are past due, historical experience, and existing economic conditions. The allowances also include amounts for certain customers where a risk of default has been specifically identified, considering factors such as the financial condition of the customer and customer disputes over contractual terms and conditions. Allowances for doubtful accounts were $101.7 and $103.5 as of fiscal year end 30 September 2013 and 2012, respectively. Provisions to the allowances for doubtful accounts charged against income were $27.6, $36.8 and $23.4 in 2013, 2012, and 2011, respectively. | |
Inventories | |
Inventories are stated at the lower of cost or market. We write down our inventories for estimated obsolescence or unmarketable inventory based upon assumptions about future demand and market conditions. | |
We utilize the last-in, first-out (LIFO) method for determining the cost of inventories in the Merchant Gases, Tonnage Gases, and Electronics and Performance Materials segments in the United States. Inventories for these segments outside of the United States are accounted for on the first-in, first-out (FIFO) method, as the LIFO method is not generally permitted in the foreign jurisdictions where these segments operate. The inventories of the Equipment and Energy segment on a worldwide basis, as well as all other inventories, are accounted for on the FIFO basis. | |
At the business segment level, inventories are recorded at FIFO and the LIFO pool adjustments are not allocated to the business segments. Refer to Note 7, Inventories, for further detail. | |
Equity Investments | |
The equity method of accounting is used when we exercise significant influence but do not have operating control, generally assumed to be 20% –50% ownership. Under the equity method, original investments are recorded at cost and adjusted by our share of undistributed earnings or losses of these companies. Equity investments are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment may not be recoverable. Refer to Note 8, Summarized Financial Information of Equity Affiliates, for further detail. | |
Plant and Equipment | |
Plant and equipment is stated at cost less accumulated depreciation. Construction costs, labor, and applicable overhead related to installations are capitalized. Expenditures for additions and improvements that extend the lives or increase the capacity of plant assets are capitalized. The costs of maintenance and repairs of plant and equipment are charged to expense as incurred. | |
Fully depreciated assets are retained in the gross plant and equipment and accumulated depreciation accounts until they are removed from service. In the case of disposals, assets and related depreciation are removed from the accounts, and the net amounts, less proceeds from disposal, are included in income. Refer to Note 9, Plant and Equipment, net, for further detail. | |
Computer Software | |
We capitalize costs incurred to purchase or develop software for internal use. Capitalized costs include purchased computer software packages, payments to vendors/consultants for development and implementation or modification to a purchased package to meet our requirements, payroll and related costs for employees directly involved in development, and interest incurred while software is being developed. Capitalized computer software costs are included in the balance sheet classification plant and equipment, net and depreciated over the estimated useful life of the software, generally a period of three to ten years. | |
Capitalized Interest | |
As we build new plant and equipment, we include in the cost of these assets a portion of the interest payments we make during the year. The amount of capitalized interest was $25.8, $30.2, and $22.7 in 2013, 2012, and 2011, respectively. | |
Impairment of Long-Lived Assets | |
Long-lived assets are grouped for impairment testing at the lowest level for which there are identifiable cash flows and is evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. We assess recoverability by comparing the carrying amount of the asset group to estimated undiscounted future cash flows expected to be generated by the asset group. If an asset group is considered impaired, the impairment loss to be recognized is measured as the amount by which the asset group's carrying amount exceeds its fair value. Long-lived assets to be sold are reported at the lower of carrying amount or fair value less cost to sell. | |
Government Grants | |
We receive government grants that primarily relate to research and development projects. Government grants are recognized when there is reasonable assurance that the grant will be received and that we have complied with the conditions of the grant. Government grants related to assets are included in the balance sheet as a reduction of the cost of the asset and result in reduced depreciation expense over the useful life of the asset. Government grants that relate to expenses are recognized in the income statement as a reduction of the related expense or as a component of other income (expense), net. | |
Asset Retirement Obligations | |
The fair value of a liability for an asset retirement obligation is recognized in the period in which it is incurred. The fair value of the liability is measured using discounted estimated cash flows and is adjusted to its present value in subsequent periods as accretion expense is recorded. The corresponding asset retirement costs are capitalized as part of the carrying amount of the related long-lived asset and depreciated over the asset's useful life. The Company's asset retirement obligations are primarily associated with Tonnage Gases on-site long-term supply contracts, under which the Company has built a facility on land owned by the customer and is obligated to remove the facility at the end of the contract term. The Company's asset retirement obligations totaled $89.8 and $76.7 at 30 September 2013 and 2012, respectively. | |
Goodwill | |
Business combinations are accounted for using the acquisition method. The purchase price is allocated to the assets acquired and liabilities assumed based on their estimated fair market values. Any excess purchase price over the fair market value of the net assets acquired, including identified intangibles, is recorded as goodwill. Preliminary purchase price allocations are made at the date of acquisition and finalized when information needed to affirm underlying estimates is obtained, within a maximum allocation period of one year. | |
Goodwill is subject to impairment testing at least annually. In addition, goodwill is tested more frequently if a change in circumstances or the occurrence of events indicates that potential impairment exists. Refer to Note 10, Goodwill, for further detail. | |
Intangible Assets | |
Intangible assets with determinable lives primarily consist of customer relationships, purchased patents and technology, and land use rights. The cost of intangible assets with determinable lives is amortized on a straight-line basis over the estimated period of economic benefit. No residual value is estimated for these intangible assets. Indefinite-lived intangible assets consist of trade names and trademarks. Indefinite-lived intangibles are subject to impairment testing at least annually. In addition, intangible assets are tested more frequently if a change in circumstances or the occurrence of events indicates that potential impairment exists. | |
Customer relationships are generally amortized over periods of five to twenty-five years. Purchased patents and technology and other are generally amortized over periods of five to twenty years. Land use rights, which are included in other intangibles, are generally amortized over a period of fifty years. Amortizable lives are adjusted whenever there is a change in the estimated period of economic benefit. Refer to Note 11, Intangible Assets, for further detail. | |
Retirement Benefits | |
The cost of pension benefits is recognized over the employees' service period. We are required to use actuarial methods and assumptions in the valuation of defined benefit obligations and the determination of expense. Differences between actual and expected results or changes in the value of obligations and plan assets are not recognized in earnings as they occur but, rather, systematically and gradually over subsequent periods. Refer to Note 16, Retirement Benefits, for disclosures related to our pension and other postretirement benefits. |
New_Accounting_Guidance
New Accounting Guidance | 12 Months Ended |
Sep. 30, 2013 | |
New Accounting Guidance [Abstract] | ' |
New Accounting Guidance | ' |
2. NEW ACCOUNTING GUIDANCE | |
Accounting Guidance Implemented in 2013 | |
GOODWILL IMPAIRMENT | |
In September 2011, the Financial Accounting Standards Board (FASB) issued authoritative guidance that provides an entity the option to first perform a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If it is determined to be more likely than not that the fair value of a reporting unit is less than its carrying amount, entities must perform the quantitative analysis of the goodwill impairment test. Otherwise, the quantitative test is optional. This guidance was effective for goodwill impairment tests performed this fiscal year and did not impact our consolidated financial statements. | |
INDEFINITE-LIVED INTANGIBLE ASSET IMPAIRMENT | |
In July 2012, the FASB amended the guidance on indefinite-lived intangible asset impairment testing to allow companies the option to first perform a qualitative assessment to determine whether it is more likely than not that the fair value of an indefinite-lived asset is less than its carrying amount. If it is determined to be more likely than not that the fair value of an indefinite-lived asset is less than its carrying amount, entities must perform the quantitative analysis of the asset impairment test. Otherwise, the quantitative test is optional. This guidance was effective for indefinite-lived intangible impairment tests performed this fiscal year and did not impact our consolidated financial statements. | |
FED FUNDS EFFECTIVE SWAP RATE | |
In July 2013, the FASB issued an update permitting the use of the Fed Funds Effective Swap Rate (OIS) as an acceptable benchmark interest rate for hedge accounting purposes in addition to U.S. Treasury rates and the LIBOR swap rate. Upon issuance, this guidance was effective prospectively for qualifying new or redesignated hedging relationships entered into. This guidance did not have an impact on our consolidated financial statements. | |
New Accounting Guidance to Be Implemented | |
AMOUNTS RECLASSIFIED OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME | |
In February 2013, the FASB issued disclosure guidance to improve the transparency of items reclassified out of accumulated other comprehensive income to net income. The guidance requires an entity to present, in a single location, information about the amounts reclassified out of accumulated other comprehensive income, by component, including the income statement line items affected by the reclassification. This guidance will be effective for us beginning in the first quarter of our fiscal year 2014. This guidance requires additional disclosure and will not have a material impact on our consolidated financial statements upon adoption. | |
CUMULATIVE TRANSLATION ADJUSTMENT | |
In March 2013, the FASB issued an update to clarify existing guidance for the release of cumulative translation adjustments into net income when a parent sells all or a part of its investment in a foreign entity or achieves a business combination of a foreign entity in stages. This guidance will be applied prospectively and is effective for us beginning in the first quarter of our fiscal year 2015, with early adoption permitted. We do not expect this guidance to have a material impact on our consolidated financial statements. | |
UNRECOGNIZED TAX BENEFITS | |
In July 2013, the FASB issued guidance to require standard presentation of an unrecognized tax benefit when a carryforward related to net operating losses or tax credits exists. This guidance will be applied prospectively and is effective for us beginning in the first quarter of our fiscal year 2015, with early adoption permitted. We do not expect this guidance to have a material impact on our consolidated financial statements. |
Discontinued_Operations
Discontinued Operations | 12 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Discontinued Operations [Abstract] | ' | ||||||||
Discontinued Operations | ' | ||||||||
3. Discontinued Operations | |||||||||
During the second quarter of 2012, the Board of Directors authorized the sale of our Homecare business, which had previously been reported as part of the Merchant Gases operating segment. | |||||||||
On 30 April 2012, we sold the majority of our Homecare business to The Linde Group for sale proceeds of €590 million ($777). This amount included contingent proceeds of €110 million ($144) related to the outcome of certain retender arrangements. As of 30 September 2013, this liability is reflected in payables and accrued liabilities on our consolidated balance sheet, with payment expected in the fourth quarter of fiscal 2014. As part of the sale, we subsequently received €32 million ($42) of additional cash proceeds based upon collection of certain accounts receivable balances. In the third quarter of 2012, we recognized a gain of $207.4 ($150.3 after-tax, or $.70 per share) on the sale of this business. | |||||||||
During the third quarter of 2012, an impairment charge of $33.5 ($29.5 after-tax, or $.14 per share) was recorded to write down the remaining business, which is primarily in the United Kingdom and Ireland, to its estimated net realizable value. In the fourth quarter of 2013, we recorded an additional charge of $18.7 ($13.6 after-tax, or $.06 per share) to update our estimate of the net realizable value as we continue to market the business for sale. | |||||||||
The Homecare business has been accounted for as a discontinued operation. The results of operations and cash flows of this business have been reclassified from the results of continuing operations for all periods presented. The assets and liabilities of discontinued operations have been reclassified and are segregated in the consolidated balance sheets. | |||||||||
The results of discontinued operations are summarized below: | |||||||||
2013 | 2012 | 2011 | |||||||
Sales | $ | 52.3 | $ | 258 | $ | 408.3 | |||
Income before taxes | $ | 3.8 | $ | 68.1 | $ | 114.1 | |||
Income tax provision | 0.2 | 20.8 | 24.2 | ||||||
Income from operations of discontinued operations | 3.6 | 47.3 | 89.9 | ||||||
Gain (Loss) on sale of business and impairment/write-down, net of tax | -13.6 | 120.8 | 0 | ||||||
Income (Loss) from Discontinued Operations, net of tax | $ | -10 | $ | 168.1 | $ | 89.9 | |||
For the year ended 30 September 2011, the income tax provision includes a tax benefit of $8.9, or $.04 per share, resulting from the completion of an audit of tax years 2007 and 2008 by the U.S. Internal Revenue Service related to our previously divested U.S. Healthcare business. For additional details on this tax benefit, refer to Note 22, Income Taxes. | |||||||||
Assets and liabilities of discontinued operations consist of the following: | |||||||||
30-Sep | 2013 | 2012 | |||||||
Trade receivables, net | $ | 2.5 | $ | 15 | |||||
Inventories | - | 0.5 | |||||||
Other current assets | - | 0.1 | |||||||
Total Current Assets | $ | 2.5 | $ | 15.6 | |||||
Plant and equipment, net | $ | - | $ | 27.2 | |||||
Total Noncurrent Assets | $ | - | $ | 27.2 | |||||
Payables and accrued liabilities | $ | 2.4 | $ | 6 | |||||
Total Current Liabilities | $ | 2.4 | $ | 6 | |||||
Other noncurrent liabilities | $ | - | $ | 0.2 | |||||
Total Noncurrent Liabilities | $ | - | $ | 0.2 |
Business_Restructuring_and_Cos
Business Restructuring and Cost Reduction Plans | 12 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Business Restructuring and Cost Reduction Plans [Abstract] | ' | |||||||||||||||
Business Restructuring and Cost Reduction Plans | ' | |||||||||||||||
4. BUSINESS RESTRUCTURING AND COST REDUCTION PLANS | ||||||||||||||||
We recorded charges in 2013 and 2012 for business restructuring and cost reduction plans. These charges are reflected on the consolidated income statements as “Business Restructuring and Cost Reduction Plans.” The charges for these plans have been excluded from segment operating income. | ||||||||||||||||
2013 Plan | ||||||||||||||||
During the fourth quarter of 2013, we recorded an expense of $231.6 ($157.9 after-tax, or $.74 per share) reflecting actions to better align our cost structure with current market conditions. These charges include $100.4 for asset actions and $58.5 for the final settlement of a long-term take-or-pay silane contract primarily impacting the Electronics business due to continued weakness in the photovoltaic (PV) and light-emitting diode (LED) markets. In addition, $71.9 was recorded for severance, benefits, and other contractual obligations associated with the elimination of approximately 700 positions and executive changes. These charges primarily impact our Merchant Gases businesses and corporate functions. The actions are in response to weaker than expected business conditions in Europe and Asia, reorganization of our operations and functional areas, and previously announced senior executive changes. The planned actions are expected to be completed by the end of fiscal year 2014. | ||||||||||||||||
The 2013 charges relate to the businesses at the segment level as follows: $61.0 in Merchant Gases, $28.6 in Tonnage Gases, $141.0 in Electronics and Performance Materials, and $1.0 in Equipment and Energy. | ||||||||||||||||
The following table summarizes the carrying amount of the accrual for the 2013 plan at 30 September 2013: | ||||||||||||||||
Severance and | Asset | Contract | ||||||||||||||
Other Benefits | Actions | Actions/ Other | Total | |||||||||||||
2013 Charge | $ | 71.9 | $ | 100.4 | $ | 59.3 | $ | 231.6 | ||||||||
Amount reflected in pension liability | -6.9 | - | - | -6.9 | ||||||||||||
Noncash expenses | - | -100.4 | - | -100.4 | ||||||||||||
Cash expenditures | -3 | - | -58.5 | -61.5 | ||||||||||||
Currency translation adjustment | 0.4 | - | - | 0.4 | ||||||||||||
Accrued balance | $ | 62.4 | $ | - | $ | 0.8 | $ | 63.2 | ||||||||
2012 Plans | ||||||||||||||||
In 2012, we recorded an expense of $327.4 ($222.4 after-tax, or $1.03 per share) for business restructuring and cost reduction plans in our Polyurethane Intermediates (PUI), Electronics, and European Merchant businesses. | ||||||||||||||||
During the second quarter of 2012, we recorded an expense of $86.8 ($60.6 after-tax, or $.28 per share) for actions to remove stranded costs resulting from our decision to exit the Homecare business, the reorganization of the Merchant business, and actions to right-size our European cost structure in light of the challenging economic outlook. The charge related to the businesses at the segment level as follows: $77.3 in Merchant Gases, $3.8 in Tonnage Gases, and $5.7 in Electronics and Performance Materials. As of 30 September 2013, the planned actions were completed. | ||||||||||||||||
During the fourth quarter of 2012, we took actions to exit the PUI business to improve costs, resulting in a net expense of $54.6 ($34.8 after-tax, or $.16 per share). We sold certain assets and the rights to a supply contract for $32.7 in cash at closing. In connection with these actions, we recognized an expense of $26.6, for the net book value of assets sold and those committed to be disposed of other than by sale. The remaining charge was primarily related to contract terminations and an environmental liability. Our PUI production facility in Pasadena, Texas is currently being dismantled, with completion expected in fiscal year 2014. The costs to dismantle are expensed as incurred and reflected in continuing operations in the Tonnage Gases business segment. | ||||||||||||||||
During the fourth quarter of 2012, we completed an assessment of our position in the PV market, resulting in $186.0 of expense ($127.0 after-tax, or $.59 per share) primarily related to the Electronics and Performance Materials segment. Air Products supplies the PV market with both bulk and on-site supply of gases, including silane. The PV market has not developed as expected, and as a result, the market capacity to produce silane is expected to exceed demand for the foreseeable future. Included in the charge was an accrual of $93.5 for an offer that we made to terminate a long term take-or-pay contract to purchase silane. A final settlement was reached with the supplier in the fourth quarter of 2013. | ||||||||||||||||
The following table summarizes the carrying amount of the accrual for the 2012 plans at 30 September 2013: | ||||||||||||||||
Severance and | Asset | Contract | Other | |||||||||||||
Other Benefits | Actions | Actions | Costs | Total | ||||||||||||
Second quarter charge- Cost reduction plan | $ | 80.8 | $ | 6 | $ | - | $ | - | $ | 86.8 | ||||||
Fourth quarter charge- PUI business actions(A) | 2.7 | 26.6 | 6.5 | 18.8 | 54.6 | |||||||||||
Fourth quarter charge- PV market actions(B) | - | 34.7 | 93.5 | 57.8 | 186 | |||||||||||
2012 Charge | $ | 83.5 | $ | 67.3 | $ | 100 | $ | 76.6 | $ | 327.4 | ||||||
Amount reflected in environmental liability(C) | - | - | - | -9 | -9 | |||||||||||
Amount reflected in pension liability | -7.5 | - | - | - | -7.5 | |||||||||||
Noncash expenses | -0.4 | -67.3 | - | -19.3 | -87 | |||||||||||
Cash expenditures | -32.8 | - | - | -0.1 | -32.9 | |||||||||||
Currency translation adjustment | -1.6 | - | - | - | -1.6 | |||||||||||
30-Sep-12 | $ | 41.2 | $ | - | $ | 100 | $ | 48.2 | $ | 189.4 | ||||||
Cash expenditures | -40.4 | - | -98.1 | -47.3 | -185.8 | |||||||||||
Currency translation adjustment | 0.3 | - | - | - | 0.3 | |||||||||||
Accrued Balance | $ | 1.1 | $ | - | $ | 1.9 | $ | 0.9 | $ | 3.9 | ||||||
(A) Charge is net of $32.7 in proceeds received in cash at closing for certain PUI assets and the rights to a supply contract. | ||||||||||||||||
(B) Other includes the write-down of inventory to its net realizable value, the write-down of accounts receivable, and expected losses on purchase | ||||||||||||||||
commitments. | ||||||||||||||||
(C) Reflected in accrual for environmental obligations. See Note 17, Commitments and Contingencies. |
Business_Combinations
Business Combinations | 12 Months Ended | ||||||
Sep. 30, 2013 | |||||||
Business Combinations | ' | ||||||
Business Combinations | ' | ||||||
5. Business Combinations | |||||||
2013 Business Combinations | |||||||
We completed three acquisitions in 2013. The acquisitions were accounted for as business combinations, and their results of operations were consolidated within their respective segments after the acquisition dates. The aggregate purchase price, net of cash acquired, for these acquisitions was $233 and resulted in recognition of $68 of goodwill, none of which is deductible for tax purposes. | |||||||
On 30 August 2013, we acquired an air separation unit and integrated gases liquefier in Guiyang, China. This acquisition included a long-term sale of gas contract within our Tonnage Gases Segment and provided our Merchant Gases segment with additional liquid capacity in the region. On 31 May 2013, we acquired EPCO Carbondioxide Products, Inc. (EPCO), the largest independent U.S. producer of liquid carbon dioxide (CO2). This acquisition expanded our North American offerings of bulk industrial process gases in the Merchant Gases segment. On 1 April 2013, we acquired Wuxi Chem-Gas Company, Ltd. (WCG). This acquisition provided our Merchant Gases segment with additional gases presence in the Jiangsu Province of China. | |||||||
2012 Business Combinations | |||||||
Indura S.A. | |||||||
In July 2012, we acquired a 64.8% controlling equity interest in the outstanding shares of Indura S.A. We paid cash consideration in Chilean pesos (CLP) of 345.5 billion ($690) and assumed debt of CLP113.8 billion ($227) for these interests. Prior to the acquisition, Indura S.A. was the largest independent industrial gas company in South America. Indura S.A.'s integrated gas and retail business comprises packaged gases and hardgoods, liquid bulk, healthcare, and on-sites. | |||||||
Under the purchase agreement, the largest minority shareholder has a right to exercise a put option to require Air Products to purchase up to a 30.5% equity interest during the two-year period beginning on 1 July 2015, at a redemption value equal to fair market value (subject to a minimum price based upon the acquisition date value escalated by an inflation factor). Under the agreement, we also had an obligation to purchase 2.0% of the remaining shares of Indura S.A. During the third quarter of 2013, we purchased these shares for CLP5.5 billion ($11). As of 30 September 2013, we hold a 67.2% interest in Indura S.A. | |||||||
For the year ended 30 September 2012, acquisition related costs of $11.4 were recognized for this transaction. Debt issuance costs of $4.9 are included within interest expense and acquisition costs of $6.5 are included within selling and administrative expenses on the consolidated income statements. | |||||||
The acquisition of Indura S.A. was accounted for as a business combination. Following the acquisition date, 100% of the Indura S.A. results were consolidated in our Merchant Gases business segment. The portion of the business that is not owned by the Company is recorded as noncontrolling interests. | |||||||
The following table summarizes the fair value of identifiable assets acquired and liabilities assumed in the acquisition of Indura S.A. and the resulting goodwill as of the acquisition date: | |||||||
Allocation of Purchase Price | |||||||
Trade receivables, net | $ | 131.2 | |||||
Inventories | 103.5 | ||||||
Other current assets and (liabilities)(A) | -67.5 | ||||||
Plant and equipment | 397.2 | ||||||
Intangible assets | 382.1 | ||||||
Current portion of long-term debt and short-term borrowings | -70.8 | ||||||
Long-term debt | -279.8 | ||||||
Deferred income taxes | -131.3 | ||||||
Other noncurrent assets and (liabilities) | -12.3 | ||||||
Fair Value of Identifiable Net Assets Acquired | $ | 452.3 | |||||
Goodwill | 626.2 | ||||||
Noncontrolling interests (including redeemable noncontrolling interest) | -388.9 | ||||||
Total | $ | 689.6 | |||||
(A) Includes cash and cash items, prepaid expenses, other current assets, payables and accrued liabilities, and other current | |||||||
liabilities. | |||||||
The noncontrolling interests of Indura S.A., including redeemable noncontrolling interest, were recorded on the acquisition date at fair value. Refer to Note 17, Commitments and Contingencies, and Note 20, Noncontrolling Interests, for additional information. | |||||||
Goodwill and Intangible Assets | |||||||
Goodwill of $626.2 is attributable to expected growth and cost synergies resulting from the acquisition. The goodwill is not deductible for income tax purposes. | |||||||
We acquired identifiable intangible assets, primarily in the form of customer relationships and trade names and trademarks, with a total estimated fair value of $382.1. Customer relationships have an estimated fair value of $287.8 and are being amortized over their estimated useful life of 23 years. Trade names and trademarks have an estimated fair value of $92.6. Since we intend to use these for the foreseeable future, they are classified as indefinite-lived intangible assets. | |||||||
Consolidated Actual and Unaudited Pro forma Information | |||||||
For the year ended 30 September 2012, sales and net income attributable to Air Products included in our consolidated income statements reflects Indura S.A. sales of $140.0 and net loss of $7.6. Indura's net loss includes a non-cash charge of $14.1 related to a Chilean tax rate change. | |||||||
The unaudited pro forma results on a continuing operations basis presented below include the effects of the Indura S.A. acquisition as if it had occurred as of 1 October 2010. | |||||||
Pro forma | |||||||
Year Ended 30 September | 2012 | 2011 | |||||
Sales | $ | 9,952.30 | $ | 10,144.20 | |||
Net income | 1,039.00 | 1,181.90 | |||||
Net income attributable to Air Products | 1,008.60 | 1,137.50 | |||||
Basic Earnings per Common Share attributable to Air Products | 4.78 | 5.34 | |||||
Diluted Earnings per Common Share attributable to Air Products | 4.7 | 5.23 | |||||
The unaudited pro forma results are based on historical results of operations, adjusted for the allocation of purchase price and other acquisition accounting adjustments, and are not necessarily indicative of either future results of operations or results that might have been achieved had the acquisition been completed on 1 October 2010. | |||||||
The unaudited pro forma results do not include any anticipated synergies or other expected benefits of the acquisition. | |||||||
DA NanoMaterials LLC | |||||||
On 2 April 2012, we acquired E.I. DuPont de Nemours and Co. Inc.'s 50% interest in our joint venture, DuPont Air Products NanoMaterials LLC (DA NanoMaterials), for $158 ($147 net of cash acquired of $11). The transaction was accounted for as a business combination, and beginning in the third quarter of 2012, the results of DA NanoMaterials were consolidated within our Electronics and Performance Materials business segment. | |||||||
Prior to the acquisition, we accounted for our 50% interest in DA NanoMaterials as an equity-method investment. The acquisition-date fair value of the previously held equity interest was valued at $120 and was determined using a discounted cash flow analysis under the income approach. The income approach required estimating a number of factors, including projected revenue growth, customer attrition rates, profit margin, and discount rate. The year ended 30 September 2012 includes a gain of $85.9 ($54.6 after-tax, or $.25 per share) as a result of revaluing our previously held equity interest to fair value as of the acquisition date. This gain is reflected on the consolidated income statements as “Gain on previously held equity interest.” |
Airgas_Transaction
Airgas Transaction | 12 Months Ended |
Sep. 30, 2013 | |
Airgas Transaction [Abstract] | ' |
Airgas Transaction | ' |
6. AIRGAS TRANSACTION | |
In February 2010, we commenced a tender offer to acquire all the outstanding common stock of Airgas, Inc. (Airgas), including the associated preferred stock purchase rights. Based on a decision by the Delaware Chancery Court to uphold the decision of Airgas' Board of Directors to retain the preferred stock purchase rights, we withdrew our offer on 15 February 2011. | |
Prior to the tender offer, we purchased approximately 1.5 million shares of Airgas stock for a total cost of $69.6. On 16 February 2011, we sold the 1.5 million shares of Airgas stock for total proceeds of $94.7 and recognized a gain of $25.1 ($15.9 after-tax, or $.07 per share). | |
For the year ended 30 September 2011, a net loss of $48.5 ($31.6 after-tax, or $.14 per share) was recognized related to this transaction. This amount is reflected separately on the consolidated income statement as “Net loss on Airgas transaction” and includes amortization of fees related to a term loan credit facility, the gain on the sale of Airgas stock, and other acquisition-related costs. In addition, cash payments for the acquisition-related costs of $156.2 are classified as operating activities on the consolidated statements of cash flows for the year ended 30 September 2011. |
Inventories
Inventories | 12 Months Ended | |||||
Sep. 30, 2013 | ||||||
Inventory Disclosure [Abstract] | ' | |||||
Inventories | ' | |||||
7. Inventories | ||||||
The components of inventories are as follows: | ||||||
30-Sep | 2013 | 2012 | ||||
Inventories at FIFO cost | ||||||
Finished goods | $ | 527.3 | $ | 617.9 | ||
Work in process | 38.7 | 36.7 | ||||
Raw materials, supplies and other | 234.9 | 220 | ||||
800.9 | 874.6 | |||||
Less: Excess of FIFO cost over LIFO cost | -94.8 | -88 | ||||
$ | 706.1 | $ | 786.6 | |||
Inventories valued using the LIFO method comprised 36.4% and 35.6% of consolidated inventories before LIFO adjustment at 30 September 2013 and 2012, respectively. Liquidation of LIFO inventory layers in 2013, 2012, and 2011 did not materially affect the results of operations. | ||||||
FIFO cost approximates replacement cost. Our inventory has a high turnover, and as a result, there is little difference between the original cost of an item and its current replacement cost. |
Summarized_Financial_Informati
Summarized Financial Information of Equity Affiliates | 12 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Equity Method Investments and Joint Ventures [Abstract] | ' | ||||||||
Equity Method Investments and Joint Ventures Disclosure [Text Block] | ' | ||||||||
8. Summarized Financial Information of Equity Affiliates | |||||||||
The table below presents summarized financial information on a combined 100% basis of the companies accounted for by the equity method. Amounts presented include the accounts of the following equity affiliates: | |||||||||
Abdullah Hashim Industrial Gases & Equipment Co., Ltd. (25%); | INOX Air Products Limited (50%); | ||||||||
Air Products South Africa (Proprietary) Limited (50%); | Kulim Industrial Gases Sdn. Bhd. (50%); | ||||||||
Bangkok Cogeneration Company Limited (49%); | Sapio Produzione Idrogeno Ossigeno S.r.l. (49%); | ||||||||
Bangkok Industrial Gases Co., Ltd. (49%); | SembCorp Air Products (HyCo) Pte. Ltd. (40%); | ||||||||
Chengdu Air & Gas Products Ltd. (50%); | Tecnologia en Nitrogeno S. de R.L. de C.V. (50%); | ||||||||
Daido Air Products Electronics, Inc. (20%); | Tyczka Industrie-Gases GmbH (50%); | ||||||||
Helap S.A. (50%); | WuXi Hi-Tech Gas Co., Ltd. (50%); | ||||||||
High-Tech Gases (Beijing) Co., Ltd. (50%); | and principally, other industrial gas producers. | ||||||||
INFRA Group (40%); | |||||||||
On 29 May 2012, we purchased 25% of the outstanding shares of Abdullah Hashim Industrial Gases & Equipment Co. Ltd. (AHG) for SAR581.3 million ($155). AHG is a company of the privately-owned Abdullah Hashim Group, based in the Kingdom of Saudi Arabia. AHG is the largest private industrial gases company in Saudi Arabia. It comprises three businesses, including industrial gases, equipment and consumables and refrigerants. The transaction was recorded as an investment in net assets of and advances to equity affiliates in the Merchant Gases segment. | |||||||||
In the third quarter of 2012, we obtained control of DA NanoMaterials and began consolidating its results. Refer to Note 5, Business Combinations, for additional information. The unaudited amounts presented below include the results of DA NanoMaterials for 2011. | |||||||||
30-Sep | 2013 | 2012 | |||||||
Current assets | $ | 1,307.90 | $ | 1,232.90 | |||||
Noncurrent assets | 2,396.10 | 2,225.30 | |||||||
Current liabilities | 795.2 | 726.6 | |||||||
Noncurrent liabilities | 648.6 | 523.9 | |||||||
Year Ended 30 September | 2013 | 2012 | 2011 | ||||||
Net sales | $ | 2,845.90 | $ | 2,675.30 | $ | 2,650.50 | |||
Sales less cost of sales | 1,003.30 | 937 | 987.2 | ||||||
Operating income | 547.3 | 529.7 | 537 | ||||||
Net income | 360.5 | 347.6 | 351.3 | ||||||
Dividends received from equity affiliates were $108.6, $89.0, and $105.9 in 2013, 2012, and 2011, respectively. | |||||||||
The investment in net assets of and advances to equity affiliates as of 30 September 2013 and 2012 included investment in foreign affiliates of $1,191.3 and $1,171.0, respectively. | |||||||||
As of 30 September 2013 and 2012, the amount of investment in companies accounted for by the equity method included goodwill in the amount of $126.4. |
Plant_and_Equipment_net
Plant and Equipment, net | 12 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment Disclosure [Text Block] | ' | ||||||||
9. Plant and EquipmenT, Net | |||||||||
The major classes of plant and equipment are as follows: | |||||||||
Useful Life | |||||||||
30-Sep | in years | 2013 | 2012 | ||||||
Land | $ | 240.5 | $ | 215.8 | |||||
Buildings | 30 | 1,076.30 | 1,032.80 | ||||||
Production facilities (A) | |||||||||
Merchant Gases | 15 | 4,109.10 | 3,552.90 | ||||||
Tonnage Gases | 15 to 20 | 6,769.30 | 6,583.70 | ||||||
Electronics and Performance Materials | 10 to 15 | 2,193.90 | 2,022.60 | ||||||
Equipment and Energy | 5 to 20 | 172.4 | 173.9 | ||||||
Total production facilities | 13,244.70 | 12,333.10 | |||||||
Distribution equipment(B) | 5 to 25 | 3,280.60 | 3,133.70 | ||||||
Other machinery and equipment | 10 to 25 | 393.8 | 310.7 | ||||||
Construction in progress | 1,294.00 | 1,020.10 | |||||||
Plant and equipment, at cost | 19,529.90 | 18,046.20 | |||||||
Less: accumulated depreciation | 10,555.90 | 9,805.60 | |||||||
Plant and equipment, net | $ | 8,974.00 | $ | 8,240.60 | |||||
(A) | Depreciable lives of production facilities related to long-term customer supply contracts are matched to the contract lives. | ||||||||
(B) | The depreciable lives for various types of distribution equipment are 10 to 25 years for cylinders, depending on the nature and properties of the | ||||||||
product; 20 years for tanks; 7.5 years for customer stations; and 5 to 15 years for tractors and trailers. | |||||||||
Depreciation expense was $864.7, $813.7, and $811.7 in 2013, 2012, and 2011, respectively. |
Goodwill
Goodwill | 12 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||
Goodwill | ' | |||||||||||
10. GOODWILL | ||||||||||||
Changes to the carrying amount of consolidated goodwill by segment are as follows: | ||||||||||||
Electronics and | ||||||||||||
Merchant | Tonnage | Performance | ||||||||||
Gases | Gases | Materials | Total | |||||||||
Balance at 30 September 2011 | $ | 479.2 | $ | 14.1 | $ | 302.9 | $ | 796.2 | ||||
Acquisitions and adjustments | 630 | - | 135.4 | 765.4 | ||||||||
Currency translation and other | 29.4 | 0.6 | 6.8 | 36.8 | ||||||||
Balance at 30 September 2012 | $ | 1,138.60 | $ | 14.7 | $ | 445.1 | $ | 1,598.40 | ||||
Acquisitions and adjustments | 73.3 | - | 2 | 75.3 | ||||||||
Currency translation and other | -19.9 | 0.5 | -0.5 | -19.9 | ||||||||
Balance at 30 September 2013 | $ | 1,192.00 | $ | 15.2 | $ | 446.6 | $ | 1,653.80 | ||||
Merchant Gases goodwill increased during 2013, primarily due to the acquisitions of EPCO and WCG during the third quarter. Merchant Gases and Electronics and Performance Materials goodwill increased during 2012 due to the acquisition of Indura S.A. and DA NanoMaterials, respectively. Refer to Note 5, Business Combinations, for further details on these acquisitions. | ||||||||||||
In the fourth quarter of 2013, we conducted the required annual test of goodwill for impairment. We determined that the fair value of each of the reporting units substantially exceeded its carrying value, and therefore there were no indications of impairment. |
Intangible_Assets
Intangible Assets | 12 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||
Intangible Assets | ' | ||||||||||||||||||||
11. INTANGIBLE ASSETS | |||||||||||||||||||||
The table below provides details of acquired intangible assets: | |||||||||||||||||||||
30-Sep-13 | 30-Sep-12 | ||||||||||||||||||||
Accumulated | Accumulated | ||||||||||||||||||||
Gross | Amortization | Net | Gross | Amortization | Net | ||||||||||||||||
Customer relationships | $ | 629.2 | $ | -97.3 | $ | 531.9 | $ | 665.3 | $ | -93.1 | $ | 572.2 | |||||||||
Patents and technology | 91.3 | -52.1 | 39.2 | 129.8 | -82 | 47.8 | |||||||||||||||
Other | 91.5 | -35.9 | 55.6 | 82.3 | -38.4 | 43.9 | |||||||||||||||
Trade names and trademarks | 90.6 | - | 90.6 | 97.7 | - | 97.7 | |||||||||||||||
$ | 902.6 | $ | -185.3 | $ | 717.3 | $ | 975.1 | $ | -213.5 | $ | 761.6 | ||||||||||
Refer to Note 1, Major Accounting Policies, for amortization periods associated with our intangible assets. | |||||||||||||||||||||
Amortization expense for intangible assets was $42.3, $27.1, and $22.6 in 2013, 2012, and 2011, respectively. | |||||||||||||||||||||
Projected annual amortization expense for intangible assets as of 30 September 2013 is as follows: | |||||||||||||||||||||
2014 | $ | 41.9 | |||||||||||||||||||
2015 | 40.1 | ||||||||||||||||||||
2016 | 38 | ||||||||||||||||||||
2017 | 36.6 | ||||||||||||||||||||
2018 | 34.8 | ||||||||||||||||||||
Thereafter | 435.3 | ||||||||||||||||||||
$ | 626.7 |
Leases
Leases | 12 Months Ended | |||||
Sep. 30, 2013 | ||||||
Leases [Abstract] | ' | |||||
Leases Of Lessee And Lessor Disclosure [Text Block] | ' | |||||
12. Leases | ||||||
Lessee Accounting | ||||||
Capital leases, primarily for the right to use machinery and equipment, are included with owned plant and equipment on the consolidated balance sheet in the amount of $19.8 and $13.6 at 30 September 2013 and 2012, respectively. Related amounts of accumulated depreciation are $8.5 and $8.8, respectively. | ||||||
Operating leases principally relate to real estate and also include aircraft, distribution equipment, and vehicles. Certain leases include escalation clauses, renewal, and/or purchase options. Rent expense is recognized on a straight-line basis over the minimum lease term. Rent expense under operating leases, including month-to-month agreements, was $98.6 in 2013, $91.1 in 2012, and $90.5 in 2011. | ||||||
At 30 September 2013, minimum payments due under leases are as follows: | ||||||
Capital | Operating | |||||
Leases | Leases | |||||
2014 | $ | 0.5 | $ | 68.6 | ||
2015 | 0.5 | 49.9 | ||||
2016 | 0.3 | 36.5 | ||||
2017 | 0.3 | 24.7 | ||||
2018 | 0.2 | 19.7 | ||||
Thereafter | 0 | 86.1 | ||||
Total | $ | 1.8 | $ | 285.5 | ||
Lessor Accounting | ||||||
As discussed under Revenue Recognition in Note 1, Major Accounting Policies, certain contracts associated with facilities that are built to provide product to a specific customer are required to be accounted for as leases. Lease receivables, net, were included principally in noncurrent capital lease receivables on our consolidated balance sheets, with the remaining balance in current capital lease receivables. | ||||||
The components of lease receivables were as follows: | ||||||
30-Sep | 2013 | 2012 | ||||
Gross minimum lease payments receivable | $ | 2,253.20 | $ | 2,134.60 | ||
Unearned interest income | -709.1 | -743.7 | ||||
Lease Receivables, net | $ | 1,544.10 | $ | 1,390.90 | ||
2014 | $ | 136.1 | ||||
2015 | 172.6 | |||||
2016 | 180 | |||||
2017 | 178.6 | |||||
2018 | 177.3 | |||||
Thereafter | 1,408.60 | |||||
Total | $ | 2,253.20 |
Financial_Instruments
Financial Instruments | 12 Months Ended | |||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||
Financial Instruments [Abstract] | ' | |||||||||||||||||||||||||||
Financial Instruments | ' | |||||||||||||||||||||||||||
13. 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 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 the appropriate 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. The maximum remaining term of any forward exchange contract currently outstanding and designated as a cash flow hedge at 30 September 2013 is 3.2 years. Forward exchange contracts are also used to hedge the value of investments in certain foreign subsidiaries and affiliates by creating a liability in a currency in which we have a net equity position. The primary currency pair in this portfolio of forward exchange contracts is the Euro/U.S. dollar. | ||||||||||||||||||||||||||||
In addition to the forward exchange contracts that are designated as hedges, we 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 comprises many different foreign currency pairs, with a profile that changes from time to time depending on business activity and sourcing decisions. | ||||||||||||||||||||||||||||
The table below summarizes our outstanding currency price risk management instruments: | ||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||
Years | Years | |||||||||||||||||||||||||||
US$ | Average | US$ | Average | |||||||||||||||||||||||||
30-Sep | Notional | Maturity | Notional | Maturity | ||||||||||||||||||||||||
Forward exchange contracts | ||||||||||||||||||||||||||||
Cash flow hedges | $ | 2,653.40 | 0.6 | $ | 1,348.80 | 0.6 | ||||||||||||||||||||||
Net investment hedges | 1,231.80 | 2.4 | 779.2 | 2.5 | ||||||||||||||||||||||||
Not designated | 751.9 | 0.1 | 477.7 | 0.1 | ||||||||||||||||||||||||
Total Forward Exchange Contracts | $ | 4,637.10 | 1 | $ | 2,605.70 | 1 | ||||||||||||||||||||||
In addition to the above, we 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 at 30 September 2013 included €908.3 million ($1,228.4) and at 30 September 2012 included €888.2 million ($1,142.2). | ||||||||||||||||||||||||||||
Debt Portfolio Management | ||||||||||||||||||||||||||||
It is our policy to identify on a continuing basis the need for debt capital and evaluate the financial risks inherent in funding the Company with debt capital. Reflecting the result of this ongoing review, the debt portfolio and hedging program are managed with the objectives and 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). At 30 September 2013, the outstanding interest rate swaps were denominated in U.S. dollars and Chilean Pesos. The maximum remaining term of any interest rate swap designated as a cash flow hedge is 1.4 years. 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. These contracts effectively convert the currency denomination of a debt instrument into another currency in which we have a net equity position while changing the interest rate characteristics of the instrument. 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 between U.S. dollars and Chilean Pesos, U.S. dollars and offshore Chinese Renminbi, as well as U.S. dollars and British Pound Sterling. | ||||||||||||||||||||||||||||
The following table summarizes our outstanding interest rate management contracts and cross currency interest rate swaps: | ||||||||||||||||||||||||||||
30-Sep-13 | 30-Sep-12 | |||||||||||||||||||||||||||
Average | Years | Average | Years | |||||||||||||||||||||||||
US$ | Receive | Average | US$ | Receive | Average | |||||||||||||||||||||||
Notional | Pay % | % | Maturity | Notional | Pay % | % | Maturity | |||||||||||||||||||||
Interest rate swaps (fair value hedge) | $ | 300 | LIBOR | 3.61% | 5.9 | $ | 450 | LIBOR | 3.23% | 4.7 | ||||||||||||||||||
Cross currency interest rate swaps | ||||||||||||||||||||||||||||
(net investment hedge) | $ | 310.8 | 3.87% | 0.72% | 2.4 | $ | 243.5 | 3.95% | 0.96% | 3.2 | ||||||||||||||||||
Interest rate swaps (cash flow hedge) | $ | 52.8 | 6.84% | 5.64% | 1.4 | $ | 452.8 | 2.75% | Various | 0.6 | ||||||||||||||||||
Cross currency interest rate swaps | ||||||||||||||||||||||||||||
(cash flow hedge) | $ | 169.3 | 3.48% | 2.53% | 4.8 | - | - | - | - | |||||||||||||||||||
The table below summarizes the fair value and balance sheet location of our outstanding derivatives: | ||||||||||||||||||||||||||||
Balance Sheet | 30-Sep | Balance Sheet | 30-Sep | |||||||||||||||||||||||||
Location | 2013 | 2012 | Location | 2013 | 2012 | |||||||||||||||||||||||
Derivatives Designated as | ||||||||||||||||||||||||||||
Hedging Instruments: | ||||||||||||||||||||||||||||
Forward exchange contracts | Other receivables | $ | 52.2 | $ | 12.7 | Accrued liabilities | $ | 22.5 | $ | 17 | ||||||||||||||||||
Interest rate management contracts | Other receivables | - | 1.1 | Accrued liabilities | 3.5 | 15.6 | ||||||||||||||||||||||
Other noncurrent | Other noncurrent | |||||||||||||||||||||||||||
Forward exchange contracts | assets | 28.7 | 64.3 | liabilities | 7.7 | 2.5 | ||||||||||||||||||||||
Other noncurrent | Other noncurrent | |||||||||||||||||||||||||||
Interest rate management contracts | assets | 35.4 | 48.6 | liabilities | 6.1 | 9.5 | ||||||||||||||||||||||
Total Derivatives Designated as | ||||||||||||||||||||||||||||
Hedging Instruments | $ | 116.3 | $ | 126.7 | $ | 39.8 | $ | 44.6 | ||||||||||||||||||||
Derivatives Not Designated as | ||||||||||||||||||||||||||||
Hedging Instruments: | ||||||||||||||||||||||||||||
Forward exchange contracts | Other receivables | $ | 9.6 | $ | 0.9 | Accrued liabilities | $ | 1.5 | $ | 2.2 | ||||||||||||||||||
Total Derivatives | $ | 125.9 | $ | 127.6 | $ | 41.3 | $ | 46.8 | ||||||||||||||||||||
Refer to Note 14, Fair Value Measurements, which defines fair value, describes the method for measuring fair value, and provides additional disclosures regarding fair value measurements. | ||||||||||||||||||||||||||||
The table below summarizes the gain or loss related to our cash flow hedges, fair value hedges, net investment hedges, and derivatives not designated as hedging instruments: | ||||||||||||||||||||||||||||
Year Ended 30 September | ||||||||||||||||||||||||||||
Forward | Foreign Currency | |||||||||||||||||||||||||||
Exchange Contracts | Debt | Other (A) | Total | |||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Cash Flow Hedges, net of tax: | ||||||||||||||||||||||||||||
Net gain (loss) recognized in OCI | ||||||||||||||||||||||||||||
(effective portion) | $ | 24.6 | $ | -14.2 | $ | - | $ | - | $ | 10.4 | $ | -7.6 | $ | 35 | $ | -21.8 | ||||||||||||
Net (gain) loss reclassified from OCI | ||||||||||||||||||||||||||||
to sales/cost of sales (effective portion) | 1 | 1.3 | - | - | - | - | 1 | 1.3 | ||||||||||||||||||||
Net (gain) loss reclassified from OCI to other | ||||||||||||||||||||||||||||
income, net (effective portion) | -23.9 | 9.6 | - | - | 2.4 | - | -21.5 | 9.6 | ||||||||||||||||||||
Net (gain)loss reclassified from OCI | ||||||||||||||||||||||||||||
to interest expense (effective portion) | -0.4 | -0.2 | - | - | 0.7 | 1.4 | 0.3 | 1.2 | ||||||||||||||||||||
Net (gain) loss reclassified from OCI to other | ||||||||||||||||||||||||||||
income, net (ineffective portion) | - | 0.3 | - | - | - | - | - | 0.3 | ||||||||||||||||||||
Fair Value Hedges: | ||||||||||||||||||||||||||||
Net gain (loss) recognized in interest expense(B) | $ | - | $ | - | $ | - | $ | - | $ | -19.8 | $ | 5.8 | $ | -19.8 | $ | 5.8 | ||||||||||||
Net Investment Hedges, net of tax: | ||||||||||||||||||||||||||||
Net gain (loss) recognized in OCI | $ | -15.3 | $ | 25 | $ | -37.7 | $ | 11.4 | $ | 1.8 | $ | -2.1 | $ | -51.2 | $ | 34.3 | ||||||||||||
Derivatives Not Designated as Hedging Instruments: | ||||||||||||||||||||||||||||
Net gain (loss) recognized in other income, net(C) | $ | 5.3 | $ | -2.4 | $ | - | $ | - | $ | - | $ | - | $ | 5.3 | $ | -2.4 | ||||||||||||
(A) Other includes the impact on other comprehensive income (OCI) and earnings primarily related to interest rate swaps. | ||||||||||||||||||||||||||||
(B) The impact of fair value hedges noted above was largely offset by gains and losses resulting from the impact of changes in | ||||||||||||||||||||||||||||
related interest rates on recognized outstanding debt. | ||||||||||||||||||||||||||||
(C) The impact of the non-designated hedges noted above was largely offset by gains and losses, respectively, resulting from the | ||||||||||||||||||||||||||||
impact of changes in exchange rates on recognized assets and liabilities denominated in nonfunctional currencies. | ||||||||||||||||||||||||||||
The amount of cash flow hedges' unrealized gains and losses at 30 September 2013 that are expected to be reclassified to earnings in the next twelve months is not material. | ||||||||||||||||||||||||||||
The cash flows related to all derivative contracts are reported in the operating activities section of the consolidated statements of cash flows. | ||||||||||||||||||||||||||||
Credit Risk-Related Contingent Features | ||||||||||||||||||||||||||||
Certain derivative instruments are executed under agreements that require us to maintain a minimum credit rating with both Standard & Poor's and Moody's. If our credit rating falls below this threshold, the counterparty to the derivative instruments has the right to request full collateralization on the derivatives' net liability position. The net liability position of derivatives with credit risk-related contingent features was $10.0 as of 30 September 2013 and $13.8 as of 30 September 2012. Because our current credit rating is above the various pre-established thresholds, no collateral has been posted on these liability positions. | ||||||||||||||||||||||||||||
Counterparty Credit Risk Management | ||||||||||||||||||||||||||||
We execute financial derivative transactions with counterparties that are highly rated financial institutions, all of which are investment grade at this time. Some of our underlying derivative agreements give us the right to require the institution to post collateral if its credit rating falls below the pre-established thresholds with Standard & Poor's or Moody's. These are the same agreements referenced in Credit Risk-Related Contingent Features above. The collateral that the counterparties would be required to post was $80.6 as of 30 September 2013 and $90.1 as of 30 September 2012. No financial institution is required to post collateral at this time, as all have credit ratings at or above the threshold. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||
Fair Value Measurements [Abstract] | ' | |||||||||||||||||||||||||||
Fair Value Measurements | ' | |||||||||||||||||||||||||||
14. Fair Value Measurements | ||||||||||||||||||||||||||||
Fair value is defined as an exit price, i.e., 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: | ||||||||||||||||||||||||||||
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 take into account the value of future cash flows as of the balance sheet date, discounted to a present value using discount factors that match both the time to maturity and currency of the underlying instruments. The computation of the fair values of these instruments is generally performed by the Company. These standard pricing models utilize inputs which are derived from or corroborated by observable market data such as interest rate yield curves and currency spot and forward rates. In addition, 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 13, Financial Instruments, for a description of derivative instruments, including details on the balance sheet line classifications. | ||||||||||||||||||||||||||||
Long-term Debt | ||||||||||||||||||||||||||||
The fair value of our debt is based on estimates using standard pricing models that take into account the value of future cash flows as of the balance sheet date, discounted to a present value using discount factors that match both the time to maturity and currency of the underlying instruments. These standard valuation models utilize observable market data such as interest rate yield curves and currency spot rates. Therefore, the fair value of our debt is classified as a level 2 measurement. We generally perform the computation of the fair value of these instruments. | ||||||||||||||||||||||||||||
The carrying values and fair values of financial instruments were as follows: | ||||||||||||||||||||||||||||
30-Sep | 2013 | 2012 | ||||||||||||||||||||||||||
Carrying Value | Fair Value | Carrying Value | Fair Value | |||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||
Derivatives | ||||||||||||||||||||||||||||
Forward exchange contracts | $ | 90.5 | $ | 90.5 | $ | 77.9 | $ | 77.9 | ||||||||||||||||||||
Interest rate management contracts | 35.4 | 35.4 | 49.7 | 49.7 | ||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||
Derivatives | ||||||||||||||||||||||||||||
Forward exchange contracts | $ | 31.7 | $ | 31.7 | $ | 21.7 | $ | 21.7 | ||||||||||||||||||||
Interest rate management contracts | 9.6 | 9.6 | 25.1 | 25.1 | ||||||||||||||||||||||||
Long-term debt, including current portion | 5,563.70 | 5,804.10 | 4,658.50 | 5,005.90 | ||||||||||||||||||||||||
The carrying amounts reported in the balance sheet for cash and cash items, trade receivables, payables and accrued liabilities, accrued income taxes, and short-term borrowings approximate fair value due to the short-term nature of these instruments. Accordingly, these items have been excluded from the above table. | ||||||||||||||||||||||||||||
The following table summarizes assets and liabilities measured at fair value on a recurring basis in the consolidated balance sheets: | ||||||||||||||||||||||||||||
30-Sep-13 | 30-Sep-12 | |||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||
Assets at Fair Value | ||||||||||||||||||||||||||||
Derivatives | ||||||||||||||||||||||||||||
Forward exchange contracts | $ | 90.5 | $ | - | $ | 90.5 | $ | - | $ | 77.9 | $ | - | $ | 77.9 | $ | - | ||||||||||||
Interest rate management contracts | 35.4 | - | 35.4 | - | 49.7 | - | 49.7 | - | ||||||||||||||||||||
Total Assets at Fair Value | $ | 125.9 | $ | - | $ | 125.9 | $ | - | $ | 127.6 | $ | - | $ | 127.6 | $ | - | ||||||||||||
Liabilities at Fair Value | ||||||||||||||||||||||||||||
Derivatives | ||||||||||||||||||||||||||||
Forward exchange contracts | $ | 31.7 | $ | - | $ | 31.7 | $ | - | $ | 21.7 | $ | - | $ | 21.7 | $ | - | ||||||||||||
Interest rate management contracts | 9.6 | - | 9.6 | - | 25.1 | - | 25.1 | - | ||||||||||||||||||||
Total Liabilities at Fair Value | $ | 41.3 | $ | - | $ | 41.3 | $ | - | $ | 46.8 | $ | - | $ | 46.8 | $ | - | ||||||||||||
The following is a tabular presentation of nonrecurring fair value measurements along with the level within the fair value hierarchy in | ||||||||||||||||||||||||||||
which the fair value measurement in its entirety falls: | ||||||||||||||||||||||||||||
30-Sep-13 | 2013 | |||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Loss | ||||||||||||||||||||||||
Long-lived assets—Cost reduction plan (A) | $ | 10.8 | $ | 0 | $ | 0 | $ | 10.8 | $ | 11.9 | ||||||||||||||||||
Long-lived assets—Discontinued operations (B) | 0 | 0 | 0 | 0 | 18.7 | |||||||||||||||||||||||
30-Sep-12 | 2012 | |||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Loss | ||||||||||||||||||||||||
Long-lived assets—Cost reduction plan (A) | $ | 2.2 | $ | 0 | $ | 0 | $ | 2.2 | $ | 6 | ||||||||||||||||||
Long-lived assets—Discontinued operations (B) | 27.2 | 0 | 0 | 27.2 | 33.5 | |||||||||||||||||||||||
(A) In conjunction with the 2013 and 2012 business restructuring and cost reduction plans, long-lived assets held for sale were written down to fair | ||||||||||||||||||||||||||||
value, and the loss was included in the respective charges. For additional information, see Note 4, Business Restructuring and Cost Reduction | ||||||||||||||||||||||||||||
Plans. We quantified the fair value of the assets held for sale using a market approach, based on prices for other market transactions | ||||||||||||||||||||||||||||
involving comparable assets and our assessment of value considering our knowledge of the markets. | ||||||||||||||||||||||||||||
(B) During 2013 and 2012, impairment charges were recorded for the remaining assets of the Homecare business to reflect their estimated net | ||||||||||||||||||||||||||||
realizable value. For additional information, see Note 3, Discontinued Operations. We utilized a market approach to determine the fair value | ||||||||||||||||||||||||||||
based on our current assessment of the markets for these assets. | ||||||||||||||||||||||||||||
Refer to Note 1, Major Accounting Policies, for additional information on our accounting and reporting of the fair value of financial instruments. |
Debt
Debt | 12 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Debt Disclosure [Text Block] | ' | ||||||||
15. Debt | |||||||||
The tables below summarize our outstanding debt at 30 September 2013 and 2012: | |||||||||
Total Debt | |||||||||
30-Sep | 2013 | 2012 | |||||||
Short-term borrowings | $ | 709.9 | $ | 633.4 | |||||
Current portion of long-term debt | 507.4 | 74.3 | |||||||
Long-term debt | 5,056.30 | 4,584.20 | |||||||
Total Debt | $ | 6,273.60 | $ | 5,291.90 | |||||
Short-term Borrowings | |||||||||
30-Sep | 2013 | 2012 | |||||||
Bank obligations | $ | 218.9 | $ | 249.9 | |||||
Commercial paper | 491 | 383.5 | |||||||
Total Short-term Borrowings | $ | 709.9 | $ | 633.4 | |||||
The weighted average interest rate of short-term borrowings outstanding at 30 September 2013 and 2012 was 1.8% and 1.5%, respectively. | |||||||||
Cash paid for interest, net of amounts capitalized, was $136.1 in 2013, $127.6 in 2012, and $117.4 in 2011. | |||||||||
Long-term Debt | |||||||||
30-Sep | Fiscal Year Maturities | 2013 | 2012 | ||||||
Payable in U.S. Dollars | |||||||||
Debentures | |||||||||
8.75% | 2021 | $ | 18.4 | $ | 18.4 | ||||
Medium-term Notes (weighted average rate) | |||||||||
Series D 7.3% | 2016 | 32.1 | 32.1 | ||||||
Series E 7.6% | 2026 | 17.2 | 17.2 | ||||||
Senior Notes | |||||||||
Note 4.15% | 2013 | - | 300 | ||||||
Note 2.0% | 2016 | 350 | 350 | ||||||
Note 1.2% | 2018 | 400 | 400 | ||||||
Note 4.375% | 2019 | 400 | 400 | ||||||
Note 3.0% | 2022 | 400 | 400 | ||||||
Note 2.75% | 2023 | 400 | - | ||||||
Other (weighted average rate) | |||||||||
Variable-rate industrial revenue bonds 0.1% | 2021 to 2050 | 917.1 | 917.1 | ||||||
Commercial Paper 0.1% | 2014 | 400 | - | ||||||
Other 2.5% | 2014 to 2019 | 46.8 | 67.8 | ||||||
Payable in Other Currencies | |||||||||
Eurobonds 3.75% | 2014 | 405.7 | 385.8 | ||||||
Eurobonds 3.875% | 2015 | 405.7 | 385.8 | ||||||
RMB Syndicated Credit Facility 4.05% | 2015 | 40.9 | 31.7 | ||||||
Eurobonds 4.625% | 2017 | 405.7 | 385.8 | ||||||
Eurobonds 2.0% | 2020 | 405.7 | - | ||||||
CLP Series E bonds 6.3% | 2030 | 163.8 | 172.6 | ||||||
Other 6.2% | 2014 to 2021 | 358.7 | 396.7 | ||||||
Capital Lease Obligations | |||||||||
United States 5.0% | 2014 to 2018 | 1.3 | 1.5 | ||||||
Foreign 6.0% | 2014 to 2015 | 0.3 | 1 | ||||||
Less: Unamortized discount | -5.7 | -5 | |||||||
Total Long-term Debt | 5,563.70 | 4,658.50 | |||||||
Less: Current portion of long-term debt | -507.4 | -74.3 | |||||||
Long-term Debt | $ | 5,056.30 | $ | 4,584.20 | |||||
Maturities of long-term debt in each of the next five years and beyond are as follows: | |||||||||
2014 | $ | 907.4 | |||||||
2015 | 453 | ||||||||
2016 | 433 | ||||||||
2017 | 453.8 | ||||||||
2018 | 439.9 | ||||||||
Thereafter | 2,876.60 | ||||||||
Total | $ | 5,563.70 | |||||||
On 4 February 2013, we issued a $400.0 senior fixed-rate 2.75% note that matures on 3 February 2023. Additionally, on 7 August 2013, we issued a 2.0% Eurobond for €300 million ($397) that matures on 7 August 2020. | |||||||||
Various debt agreements to which we are a party also include financial covenants and other restrictions, including restrictions pertaining to the ability to create property liens and enter into certain sale and leaseback transactions. As of 30 September 2013, we are in compliance with all the financial and other covenants under our debt agreements. | |||||||||
As of 30 September 2013, we have classified commercial paper of $400.0 maturing in 2014 as long-term debt because we have the ability and intent to refinance the debt under our $2,500.0 committed credit facility maturing in 2018. Our current intent is to refinance this debt via the U.S. public or private placement markets. | |||||||||
On 30 April 2013, we entered into a five-year $2,500.0 revolving credit agreement with a syndicate of banks (the “2013 Credit Agreement”), under which senior unsecured debt is available to us and certain of our subsidiaries. The 2013 Credit Agreement provides us with a source of liquidity and supports our commercial paper program. This agreement increases the previously existing facility by $330.0, extends the maturity date to 30 April 2018, and modifies the financial covenant to a maximum ratio of total debt to total capitalization (total debt plus total equity plus redeemable noncontrolling interest) no greater than 70%. No borrowings were outstanding under the 2013 Credit Agreement as of 30 September 2013. | |||||||||
The 2013 Credit Agreement terminates and replaces our previous $2,170.0 revolving credit agreement dated 8 July 2010, as subsequently amended, which was to mature 30 June 2015 and had a financial covenant of long-term debt divided by the sum of long-term debt plus equity of no greater than 60%. No borrowings were outstanding under the previous agreement at the time of its termination and no early termination penalties were incurred. | |||||||||
Effective 11 June 2012, we entered into an offshore Chinese Renminbi (RMB) syndicated credit facility of RMB1,000.0 million ($163.5), maturing in June 2015. There are RMB250.0 million ($40.9) in outstanding borrowings under this commitment at 30 September 2013. | |||||||||
Additional commitments totaling $383.0 are maintained by our foreign subsidiaries, of which $309.0 was borrowed and outstanding at 30 September 2013. |
Retirement_Benefits
Retirement Benefits | 12 Months Ended | |||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||
Retirement Benefits [Abstract] | ' | |||||||||||||||||||||||||
Retirement Benefits | ' | |||||||||||||||||||||||||
16. RETIREMENT BENEFITS | ||||||||||||||||||||||||||
The Company and certain of its subsidiaries sponsor defined benefit pension plans and defined contribution plans that cover a substantial portion of its worldwide employees. The principal defined benefit pension plans are the U.S. salaried pension plan and the U.K. pension plan. These plans were closed to new participants in 2005 and were replaced with defined contribution plans. The principal defined contribution plan is the Retirement Savings Plan, in which a substantial portion of the U.S. employees participate; a similar plan is offered to U.K. employees. We also provide other postretirement benefits consisting primarily of healthcare benefits to U.S. retirees who meet age and service requirements. | ||||||||||||||||||||||||||
Defined Benefit Pension Plans | ||||||||||||||||||||||||||
Pension benefits earned are generally based on years of service and compensation during active employment. The cost of our defined benefit pension plans included the following components: | ||||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||||
U.S. | International | U.S. | International | U.S. | International | |||||||||||||||||||||
Service cost | $ | 51.8 | $ | 31.5 | $ | 45.1 | $ | 24.1 | $ | 43.6 | $ | 29.5 | ||||||||||||||
Interest cost | 117.1 | 57.3 | 124.2 | 62.3 | 122.8 | 64.2 | ||||||||||||||||||||
Expected return on plan assets | -185.4 | -71.2 | -178.2 | -66.7 | -179.4 | -68.1 | ||||||||||||||||||||
Amortization | ||||||||||||||||||||||||||
Net actuarial loss | 116 | 27 | 78.6 | 17.4 | 63.9 | 30.9 | ||||||||||||||||||||
Prior service cost | 2.9 | 0.2 | 2.7 | 0.5 | 2.6 | 0.6 | ||||||||||||||||||||
Settlements | 11.5 | 0.9 | - | 1.4 | - | 1 | ||||||||||||||||||||
Special termination benefits | 1.2 | 6.2 | 4.6 | 2.2 | - | 0.3 | ||||||||||||||||||||
Other | - | 2.7 | - | 2.2 | - | 2.2 | ||||||||||||||||||||
Net Periodic Pension Cost | $ | 115.1 | $ | 54.6 | $ | 77 | $ | 43.4 | $ | 53.5 | $ | 60.6 | ||||||||||||||
Our U.S. supplemental pension plan provides for a lump sum benefit payment option at the time of retirement, or for corporate officers, six months after the retirement date. Pension settlements are recognized when cash payments exceed the sum of the service and interest cost components of net periodic pension cost of the plan for the fiscal year. We recognized $12.4 of settlement losses in 2013. Special termination benefits for 2013 and 2012 are primarily related to the cost reduction plans initiated in their respective years. | ||||||||||||||||||||||||||
We calculate net periodic pension cost for a given fiscal year based on assumptions developed at the end of the previous fiscal year. The following table sets forth the weighted average assumptions used in the calculation of net periodic pension cost: | ||||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||||
U.S. | International | U.S. | International | U.S. | International | |||||||||||||||||||||
Discount rate | 3.9 | % | 4.3 | % | 4.9 | % | 5.5 | % | 5.1 | % | 4.9 | % | ||||||||||||||
Expected return on plan assets | 8.3 | % | 6.5 | % | 8.8 | % | 6.6 | % | 8.8 | % | 6.6 | % | ||||||||||||||
Rate of compensation increase | 4 | % | 3.4 | % | 4 | % | 3.8 | % | 4 | % | 3.8 | % | ||||||||||||||
The projected benefit obligation (PBO) is the actuarial present value of benefits attributable to employee service rendered to date, including the effects of estimated future salary increases. The following table sets forth the weighted average assumptions used in the calculation of the PBO: | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
U.S. | International | U.S. | International | |||||||||||||||||||||||
Discount rate | 4.8 | % | 4.3 | % | 3.9 | % | 4.3 | % | ||||||||||||||||||
Rate of compensation increase | 4 | % | 3.7 | % | 4 | % | 3.4 | % | ||||||||||||||||||
The following table reflects the change in the PBO and the change in the fair value of plan assets based on the plan year | ||||||||||||||||||||||||||
measurement date, as well as the amounts recognized in the consolidated balance sheets: | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
U.S. | International | U.S. | International | |||||||||||||||||||||||
Change in Projected Benefit Obligation | ||||||||||||||||||||||||||
Obligation at beginning of year | $ | 3,077.90 | $ | 1,408.60 | $ | 2,605.90 | $ | 1,159.60 | ||||||||||||||||||
Service cost | 51.8 | 31.5 | 45.1 | 24.1 | ||||||||||||||||||||||
Interest cost | 117.1 | 57.3 | 124.2 | 62.3 | ||||||||||||||||||||||
Amendments | 2.6 | -4.4 | 1.8 | - | ||||||||||||||||||||||
Actuarial (gain) loss | -318.5 | 113.5 | 400.7 | 182.6 | ||||||||||||||||||||||
Settlements | 8.9 | -2.8 | - | -4.5 | ||||||||||||||||||||||
Special termination benefits | 1.2 | 6.2 | 4.6 | 2.2 | ||||||||||||||||||||||
Participant contributions | - | 2.3 | - | 3.5 | ||||||||||||||||||||||
Benefits paid | -131.4 | -45.2 | -104.4 | -42.2 | ||||||||||||||||||||||
Currency translation/other | -0.6 | 18 | - | 21 | ||||||||||||||||||||||
Obligation at End of Year | $ | 2,809.00 | $ | 1,585.00 | $ | 3,077.90 | $ | 1,408.60 | ||||||||||||||||||
Change in Plan Assets | ||||||||||||||||||||||||||
Fair value at beginning of year | $ | 2,099.80 | $ | 1,139.30 | $ | 1,844.30 | $ | 979.4 | ||||||||||||||||||
Actual return on plan assets | 313.4 | 117.5 | 348.8 | 120.8 | ||||||||||||||||||||||
Company contributions | 252.4 | 48.4 | 11.1 | 65.3 | ||||||||||||||||||||||
Participant contributions | - | 2.3 | - | 3.5 | ||||||||||||||||||||||
Benefits paid | -131.4 | -45.2 | -104.4 | -42.2 | ||||||||||||||||||||||
Settlements | - | -2.8 | - | -4.5 | ||||||||||||||||||||||
Currency translation/other | - | 7.1 | - | 17 | ||||||||||||||||||||||
Fair Value at End of Year | $ | 2,534.20 | $ | 1,266.60 | $ | 2,099.80 | $ | 1,139.30 | ||||||||||||||||||
Funded Status at End of Year | $ | -274.8 | $ | -318.4 | $ | -978.1 | $ | -269.3 | ||||||||||||||||||
Amounts Recognized | ||||||||||||||||||||||||||
Noncurrent assets | $ | 19.4 | $ | 1.1 | $ | - | $ | 0.9 | ||||||||||||||||||
Accrued liabilities | -14.7 | - | -13.5 | - | ||||||||||||||||||||||
Noncurrent liabilities | -279.5 | -319.5 | -964.6 | -270.2 | ||||||||||||||||||||||
Net Amount Recognized | $ | -274.8 | $ | -318.4 | $ | -978.1 | $ | -269.3 | ||||||||||||||||||
The changes in plan assets and benefit obligation that have been recognized in other comprehensive income on a pretax basis | ||||||||||||||||||||||||||
during 2013 and 2012 consist of the following: | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
U.S. | International | U.S. | International | |||||||||||||||||||||||
Net actuarial (gain) loss arising during the period | $ | -437.6 | $ | 67.2 | $ | 230 | $ | 128.6 | ||||||||||||||||||
Amortization of net actuarial loss | -127.5 | -27.9 | -78.6 | -18.8 | ||||||||||||||||||||||
Prior service cost (credit) arising during the period | 2.6 | -4.4 | 1.8 | - | ||||||||||||||||||||||
Amortization of prior service cost | -2.9 | -0.2 | -2.7 | -0.5 | ||||||||||||||||||||||
Total | $ | -565.4 | $ | 34.7 | $ | 150.5 | $ | 109.3 | ||||||||||||||||||
The net actuarial (gain) loss represents the actual changes in the estimated obligation and plan assets that have not yet been recognized in the consolidated income statement and are included in accumulated other comprehensive loss. Actuarial gains arising during 2013 are primarily attributable to higher discount rates and higher than expected actual returns on plan assets. Actuarial gains and losses are not recognized immediately, but instead are accumulated as a part of the unrecognized net loss balance and amortized into net periodic pension cost over the average remaining service period of participating employees as certain thresholds are met. | ||||||||||||||||||||||||||
The components recognized in accumulated other comprehensive loss on a pretax basis at 30 September consisted of: | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
U.S. | International | U.S. | International | |||||||||||||||||||||||
Net actuarial loss | $ | 869.8 | $ | 541.8 | $ | 1,434.90 | $ | 502.5 | ||||||||||||||||||
Prior service cost | 13.7 | 1.4 | 14 | 6 | ||||||||||||||||||||||
Net transition liability | - | 0.4 | - | 0.4 | ||||||||||||||||||||||
Total | $ | 883.5 | $ | 543.6 | $ | 1,448.90 | $ | 508.9 | ||||||||||||||||||
The amount of accumulated other comprehensive loss at 30 September 2013 that is expected to be recognized as a component of | ||||||||||||||||||||||||||
net periodic pension cost during fiscal year 2014, excluding amounts that may be recognized through settlement losses, is as follows: | ||||||||||||||||||||||||||
U.S. | International | |||||||||||||||||||||||||
Net actuarial loss | $ | 83.2 | $ | 35.1 | ||||||||||||||||||||||
Prior service cost | 2.8 | 0.1 | ||||||||||||||||||||||||
The accumulated benefit obligation (ABO) is the actuarial present value of benefits attributed to employee service rendered to a particular date, based on current salaries. The ABO for all defined benefit pension plans was $3,990.7 and $4,012.6 at the end of 2013 and 2012, respectively. | ||||||||||||||||||||||||||
The following table provides information on pension plans where the benefit liability exceeds the value of plan assets: | ||||||||||||||||||||||||||
30-Sep-13 | 30-Sep-12 | |||||||||||||||||||||||||
U.S. | International | U.S. | International | |||||||||||||||||||||||
Pension Plans with PBO in Excess of Plan Assets: | ||||||||||||||||||||||||||
PBO | $ | 2,607.60 | $ | 1,558.70 | $ | 3,077.90 | $ | 1,383.30 | ||||||||||||||||||
Fair value of plan assets | 2,313.40 | 1,239.40 | 2,099.80 | 1,113.20 | ||||||||||||||||||||||
Pension Plans with ABO in Excess of Plan Assets: | ||||||||||||||||||||||||||
ABO | $ | 139.3 | $ | 1,401.30 | $ | 2,738.60 | $ | 1,249.10 | ||||||||||||||||||
Fair value of plan assets | 0 | 1,205.80 | 2,099.80 | 1,113.20 | ||||||||||||||||||||||
Included in the tables above are several pension arrangements that are not funded because of jurisdictional practice. The ABO and PBO related to these plans for 2013 were $143.7 and $164.8, respectively. | ||||||||||||||||||||||||||
Pension Plan Assets | ||||||||||||||||||||||||||
Our pension plan investment strategy is to invest in diversified portfolios to earn a long-term return consistent with acceptable risk in order to pay retirement benefits and meet regulatory funding requirements while minimizing company cash contributions over time. The plans invest primarily in passive and actively managed equity and debt securities. Equity investments are diversified geographically and by investment style and market capitalization. Company stock is only included in plan assets as a component of index funds. Fixed income investments include sovereign, corporate and asset-backed securities generally denominated in the currency of the plan. | ||||||||||||||||||||||||||
Asset allocation targets are established based on the long-term return, volatility and correlation characteristics of the asset classes, the profiles of the plans' liabilities, and acceptable levels of risk. Actual allocations vary from target due to market changes and are reviewed regularly. Assets are routinely rebalanced through contributions, benefit payments, and otherwise as deemed appropriate. The actual and target allocations at the measurement date are as follows: | ||||||||||||||||||||||||||
2013 Target Allocation | 2013 Actual Allocation | 2012 Actual Allocation | ||||||||||||||||||||||||
Asset Category | U.S. | International | U.S. | International | U.S. | International | ||||||||||||||||||||
Equity securities | 60–80% | 54–65% | 71% | 61% | 70% | 57% | ||||||||||||||||||||
Debt securities | 20–30% | 34–45% | 23% | 36% | 24% | 39% | ||||||||||||||||||||
Real estate/other | 0–10% | 0–2% | 5% | 1% | 5% | 1% | ||||||||||||||||||||
Cash | 0 | 0 | 1% | 2% | 1% | 3% | ||||||||||||||||||||
Total | 100% | 100% | 100% | 100% | ||||||||||||||||||||||
The 8.3% expected return for U.S. plan assets is based on a weighted average of estimated long-term returns of major asset classes and the historical performance of plan assets. The estimated long-term return for equity, debt securities, and real estate is 9.3%, 5.7%, and 7.1%, respectively. In determining asset class returns, we take into account historical long-term returns and the value of active management, as well as other economic and market factors. | ||||||||||||||||||||||||||
The 6.5% expected rate of return for International plan assets is based on a weighted average return for plans outside the U.S., which vary significantly in size, asset structure and expected returns. The expected asset return for the U.K. plan, which represents over 75% of the assets of our International plans, is 7.0% and can be derived from expected equity and debt security returns of 7.6% and 4.6%, respectively. | ||||||||||||||||||||||||||
The following table summarizes pension plan assets measured at fair value by asset class (see Note 14, Fair Value Measurements, | ||||||||||||||||||||||||||
for definition of the levels): | ||||||||||||||||||||||||||
30-Sep-13 | 30-Sep-12 | |||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||
U.S. Qualified Pension | ||||||||||||||||||||||||||
Plans | ||||||||||||||||||||||||||
Cash and cash equivalents | $ | 10.1 | $ | 10.1 | $ | 0 | $ | 0 | $ | 9.9 | $ | 9.9 | $ | 0 | $ | 0 | ||||||||||
Equity securities | 764.3 | 764.3 | 0 | 0 | 645.3 | 645.3 | 0 | 0 | ||||||||||||||||||
Equity mutual funds | 487 | 487 | 0 | 0 | 446 | 446 | 0 | 0 | ||||||||||||||||||
Equity pooled funds | 561.4 | 0 | 561.4 | 0 | 370.9 | 0 | 370.9 | 0 | ||||||||||||||||||
Fixed income: | ||||||||||||||||||||||||||
Bonds (government and | ||||||||||||||||||||||||||
corporate) | 12.5 | 0 | 12.5 | 0 | 13.8 | 0 | 13.8 | 0 | ||||||||||||||||||
Mortgage and asset- | ||||||||||||||||||||||||||
backed securities | 14.7 | 0 | 14.7 | 0 | 12.7 | 0 | 12.7 | 0 | ||||||||||||||||||
Mutual funds | 24 | 24 | 0 | 0 | 23.6 | 23.6 | 0 | 0 | ||||||||||||||||||
Pooled funds | 527.4 | 0 | 527.4 | 0 | 462.6 | 0 | 462.6 | 0 | ||||||||||||||||||
Real estate pooled funds | 132.8 | 0 | 0 | 132.8 | 115 | 0 | 0 | 115 | ||||||||||||||||||
Total U.S. Qualified | ||||||||||||||||||||||||||
Pension Plans | $ | 2,534.20 | $ | 1,285.40 | $ | 1,116.00 | $ | 132.8 | $ | 2,099.80 | $ | 1,124.80 | $ | 860 | $ | 115 | ||||||||||
International Pension | ||||||||||||||||||||||||||
Plans | ||||||||||||||||||||||||||
Cash and cash equivalents | $ | 16.9 | $ | 16.9 | $ | 0 | $ | 0 | $ | 37.8 | $ | 37.8 | $ | 0 | $ | 0 | ||||||||||
Equity pooled funds | 776 | 0 | 776 | 0 | 642.6 | 0 | 642.6 | 0 | ||||||||||||||||||
Fixed income pooled funds | 385.3 | 0 | 385.3 | 0 | 375.9 | 0 | 375.9 | 0 | ||||||||||||||||||
Other pooled funds | 20.1 | 0 | 10.7 | 9.4 | 19.5 | 0 | 10.8 | 8.7 | ||||||||||||||||||
Insurance contracts | 68.3 | 0 | 0 | 68.3 | 63.5 | 0 | 0 | 63.5 | ||||||||||||||||||
Total International | ||||||||||||||||||||||||||
Pension Plans | $ | 1,266.60 | $ | 16.9 | $ | 1,172.00 | $ | 77.7 | $ | 1,139.30 | $ | 37.8 | $ | 1,029.30 | $ | 72.2 | ||||||||||
The following table summarizes changes in fair value of the pension plan assets classified as Level 3, by asset class: | ||||||||||||||||||||||||||
Real Estate | Other Pooled | Insurance | ||||||||||||||||||||||||
Pooled Funds | Funds | Contracts | Total | |||||||||||||||||||||||
30-Sep-11 | $ | 101.3 | $ | 16.7 | $ | 71.6 | $ | 189.6 | ||||||||||||||||||
Actual return on plan assets: | ||||||||||||||||||||||||||
Assets held at end of year | 13.7 | -1.1 | -1 | 11.6 | ||||||||||||||||||||||
Assets sold during the period | - | 0.3 | - | 0.3 | ||||||||||||||||||||||
Purchases, sales, and settlements, net | - | -7.2 | -7.1 | -14.3 | ||||||||||||||||||||||
30-Sep-12 | $ | 115 | $ | 8.7 | $ | 63.5 | $ | 187.2 | ||||||||||||||||||
Actual return on plan assets: | ||||||||||||||||||||||||||
Assets held at end of year | 17.8 | 1.6 | 5.6 | 25 | ||||||||||||||||||||||
Assets sold during the period | - | 0.2 | - | 0.2 | ||||||||||||||||||||||
Purchases, sales, and settlements, net | - | -1.1 | -0.8 | -1.9 | ||||||||||||||||||||||
30-Sep-13 | $ | 132.8 | $ | 9.4 | $ | 68.3 | $ | 210.5 | ||||||||||||||||||
The descriptions and fair value methodologies for the U.S. and International pension plan assets are as follows: | ||||||||||||||||||||||||||
Cash and Cash Equivalents | ||||||||||||||||||||||||||
The carrying amounts of cash and cash equivalents approximate fair value due to the short-term maturity. | ||||||||||||||||||||||||||
Equity Securities | ||||||||||||||||||||||||||
Equity securities are valued at the closing market price reported on a U.S. exchange where the security is actively traded and are therefore classified as Level 1 assets. | ||||||||||||||||||||||||||
Mutual Funds | ||||||||||||||||||||||||||
Shares of mutual funds are valued at their published closing net asset value (NAV) and are classified as Level 1 assets. | ||||||||||||||||||||||||||
Pooled Funds | ||||||||||||||||||||||||||
Securities are valued at the NAV of the shares held at year end, which is based on the fair value of the underlying investments, and are classified as Level 2 assets. | ||||||||||||||||||||||||||
Corporate and Government Bonds | ||||||||||||||||||||||||||
Corporate and government bonds are classified as Level 2 assets, as they are either valued at quoted market prices from observable pricing sources at the reporting date or valued based upon comparable securities with similar yields and credit ratings. | ||||||||||||||||||||||||||
Mortgage and Asset-Backed Securities | ||||||||||||||||||||||||||
Securities are classified as Level 2 assets, as they are either valued at quoted market prices from observable pricing sources at the reporting date or valued based upon comparable securities with similar yields, credit ratings, and purpose of the underlying loan. | ||||||||||||||||||||||||||
Real Estate Pooled Funds | ||||||||||||||||||||||||||
Funds are classified as Level 3 assets, as they are carried at the estimated fair value of the underlying properties. Estimated fair value is calculated utilizing a combination of key inputs, such as revenue and expense growth rates, terminal capitalization rates, and discount rates. These key inputs are consistent with practices prevailing within the real estate investment management industry. | ||||||||||||||||||||||||||
Other Pooled Funds | ||||||||||||||||||||||||||
Securities classified as Level 2 assets are valued at the NAV of the shares held at year end, which is based on the fair value of the underlying investments. Securities and interests classified as Level 3 are carried at the estimated fair value of the underlying investments. The underlying investments are valued based on bids from brokers or other third-party vendor sources that utilize expected cash flow streams and other uncorroborated data, including counterparty credit quality, default risk, discount rates, and the overall capital market liquidity. | ||||||||||||||||||||||||||
Insurance Contracts | ||||||||||||||||||||||||||
Insurance contracts are classified as Level 3 assets, as they are carried at contract value, which approximates the estimated fair value. The estimated fair value is based on the fair value of the underlying investment of the insurance company. | ||||||||||||||||||||||||||
Contributions and Projected Benefit Payments | ||||||||||||||||||||||||||
Pension contributions of $300.8 for fiscal year 2013 include voluntary contributions for the U.S. plans of $220.0. These contributions resulted from an assessment of long-term funding requirements of the plans and tax planning. We anticipate contributing $80 to $100 to the defined benefit pension plans in 2014. These contributions are dependent upon the timing of retirements. | ||||||||||||||||||||||||||
Projected benefit payments, which reflect expected future service, are as follows: | ||||||||||||||||||||||||||
U.S. | International | |||||||||||||||||||||||||
2014 | $ | 115.6 | $ | 46.4 | ||||||||||||||||||||||
2015 | 124.7 | 51.3 | ||||||||||||||||||||||||
2016 | 130.3 | 53.3 | ||||||||||||||||||||||||
2017 | 141.3 | 54.8 | ||||||||||||||||||||||||
2018 | 148.8 | 57.7 | ||||||||||||||||||||||||
2019–2023 | 885.2 | 344.1 | ||||||||||||||||||||||||
These estimated benefit payments are based on assumptions about future events. Actual benefit payments may vary significantly from these estimates. | ||||||||||||||||||||||||||
Defined Contribution Plans | ||||||||||||||||||||||||||
We maintain a nonleveraged employee stock ownership plan (ESOP) which forms part of the Air Products and Chemicals, Inc. Retirement Savings Plan (RSP). The ESOP was established in May of 2002. The balance of the RSP is a qualified defined contribution plan including a 401(k) elective deferral component. A substantial portion of U.S. employees are eligible and participate. | ||||||||||||||||||||||||||
We treat dividends paid on ESOP shares as ordinary dividends. Under existing tax law, we may deduct dividends which are paid with respect to shares held by the plan. Shares of the Company's common stock in the ESOP totaled 3,691,435 as of 30 September 2013. | ||||||||||||||||||||||||||
We match a portion of the participants' contributions to the RSP and other various worldwide defined contribution plans. Our contributions to the RSP include a Company core contribution for certain eligible employees who do not receive their primary retirement benefit from the defined benefit pension plans, with the core contribution based on a percentage of pay that is dependent on years of service. For the RSP, we also make matching contributions on overall employee contributions as a percentage of the employee contribution and include an enhanced contribution for certain eligible employees that do not participate in the defined benefit pension plans. Worldwide contributions expensed to income in 2013, 2012, and 2011 were $40.6, $33.9, and $31.3, respectively. | ||||||||||||||||||||||||||
Other Postretirement Benefits | ||||||||||||||||||||||||||
We provide other postretirement benefits consisting primarily of healthcare benefits to certain U.S. retirees who meet age and service requirements. The healthcare benefit is a continued medical benefit until the retiree reaches age 65. Healthcare benefits are contributory, with contributions adjusted periodically. The retiree medical costs are capped at a specified dollar amount, with the retiree contributing the remainder. | ||||||||||||||||||||||||||
The cost of our other postretirement benefit plans includes the following components: | ||||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||||
Service cost | $ | 4.3 | $ | 4.5 | $ | 5.7 | ||||||||||||||||||||
Interest cost | 1.9 | 3.9 | 3.3 | |||||||||||||||||||||||
Amortization of net actuarial loss | 2.3 | 2.9 | 3.8 | |||||||||||||||||||||||
Net Periodic Postretirement Cost | $ | 8.5 | $ | 11.3 | $ | 12.8 | ||||||||||||||||||||
We calculate net periodic postretirement cost for a given fiscal year based on assumptions developed at the end of the previous fiscal year. The discount rate assumption used in the calculation of net periodic postretirement cost for 2013, 2012, and 2011 was 1.9%, 3.7%, and 2.8%, respectively. | ||||||||||||||||||||||||||
We measure the other postretirement benefits as of 30 September. The discount rate assumption used in the calculation of the accumulated postretirement benefit obligation was 2.4% and 1.9% for 2013 and 2012, respectively. | ||||||||||||||||||||||||||
The following table reflects the change in the accumulated postretirement benefit obligation and the amounts recognized in the | ||||||||||||||||||||||||||
consolidated balance sheets: | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
Obligation at beginning of year | $ | 119.9 | $ | 113.8 | ||||||||||||||||||||||
Service cost | 4.3 | 4.5 | ||||||||||||||||||||||||
Interest cost | 1.9 | 3.9 | ||||||||||||||||||||||||
Actuarial (gain) loss | -14.5 | 10.2 | ||||||||||||||||||||||||
Benefits paid | -11.7 | -12.5 | ||||||||||||||||||||||||
Obligation at End of Year | $ | 99.9 | $ | 119.9 | ||||||||||||||||||||||
Amounts Recognized | ||||||||||||||||||||||||||
Accrued liabilities | $ | 10.9 | $ | 12.6 | ||||||||||||||||||||||
Noncurrent liabilities | 89 | 107.3 | ||||||||||||||||||||||||
The changes in benefit obligation that have been recognized in other comprehensive income on a pretax basis during 2013 and 2012 | ||||||||||||||||||||||||||
for our other postretirement benefit plans consist of the following: | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
Net actuarial (gain) loss arising during the period | $ | -14.5 | $ | 10.2 | ||||||||||||||||||||||
Amortization of net actuarial loss | -2.3 | -2.9 | ||||||||||||||||||||||||
Total | $ | -16.8 | $ | 7.3 | ||||||||||||||||||||||
The net actuarial loss recognized in accumulated other comprehensive loss on a pretax basis was $19.7 at 30 September 2013 and $36.5 at 30 September 2012. Of the 30 September 2013 net actuarial loss, it is estimated that $1.7 will be amortized into net periodic postretirement cost during fiscal year 2014. | ||||||||||||||||||||||||||
The assumed healthcare trend rates are as follows: | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
Healthcare trend rate | 7.50% | 8.00% | ||||||||||||||||||||||||
Ultimate trend rate | 5.00% | 5.00% | ||||||||||||||||||||||||
Year the ultimate trend rate is reached | 2019 | 2019 | ||||||||||||||||||||||||
The effect of a change in the healthcare trend rate is tempered by a cap on the average retiree medical cost. The impact of a one percentage point change in the assumed healthcare cost trend rate on net periodic postretirement cost and the obligation is not material. | ||||||||||||||||||||||||||
Projected benefit payments are as follows: | ||||||||||||||||||||||||||
2014 | $ | 11.1 | ||||||||||||||||||||||||
2015 | 10.9 | |||||||||||||||||||||||||
2016 | 11 | |||||||||||||||||||||||||
2017 | 10.8 | |||||||||||||||||||||||||
2018 | 10.6 | |||||||||||||||||||||||||
2019–2023 | 46.3 | |||||||||||||||||||||||||
These estimated benefit payments are based on assumptions about future events. Actual benefit payments may vary significantly from these estimates. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | |||
Sep. 30, 2013 | ||||
Commitments And Contingencies [Abstract] | ' | |||
Commitments and Contingencies | ' | |||
17. Commitments and Contingencies | ||||
Litigation | ||||
We are involved in various legal proceedings, including competition, environmental, health, safety, product liability, and insurance matters. In September 2010, the Brazilian Administrative Council for Economic Defense (CADE) issued a decision against our Brazilian subsidiary, Air Products Brasil Ltda., and several other Brazilian industrial gas companies for alleged anticompetitive activities. CADE imposed a civil fine of R$179.2 million (approximately $81 at 30 September 2013) on Air Products Brasil Ltda. This fine was based on a recommendation by a unit of the Brazilian Ministry of Justice whose investigation began in 2003, alleging violation of competition laws with respect to the sale of industrial and medical gases. The fines are based on a percentage of our total revenue in Brazil in 2003. | ||||
We have denied the allegations made by the authorities and filed an appeal in October 2010 with the Brazilian courts. Certain of our defenses, if successful, could result in the matter being dismissed with no fine against us. 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 reasonably possible, such a judgment is not probable. As a result, no provision has been made in the consolidated financial statements. We estimate the maximum possible loss to be the full amount of the fine of R$179.2 million (approximately $81 at 30 September 2013) plus interest accrued thereon until final disposition of the proceedings. | ||||
We are required to provide security for the payment of the fine (and interest) in order to suspend execution of the judgment during the appeal process, during which time interest will accrue on the fine. The security is only collectible by the court in the event we are not successful in our appeal and do not timely pay the fine. The security could be in the form of a bank guarantee or in other forms which the courts deem acceptable. The form of security to be provided by us has not been finally determined. | ||||
While we do not expect that any sums we may have to pay in connection with this or any other legal proceeding would have a material adverse effect on our consolidated financial position or net cash flows, a future charge for regulatory fines or damage awards could have a significant impact on our net income in the period in which it is recorded. | ||||
Environmental | ||||
In the normal course of business, we are involved in legal proceedings under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA: the federal Superfund law), Resource Conservation and Recovery Act (RCRA), and similar state and foreign environmental laws relating to the designation of certain sites for investigation or remediation. Presently, there are approximately 33 sites on which a final settlement has not been reached where we, along with others, have been designated a potentially responsible party by the Environmental Protection Agency or are otherwise engaged in investigation or remediation, including cleanup activity at certain of our current and former manufacturing sites. We continually monitor these sites for which we have environmental exposure. | ||||
Accruals for environmental loss contingencies are recorded when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated consistent with the policy set forth in Note 1, Major Accounting Policies, to the consolidated financial statements. The consolidated balance sheets at 30 September 2013 and 2012 included an accrual of $86.7 and $87.5, respectively, primarily as part of other noncurrent liabilities. The environmental liabilities will be paid over a period of up to 30 years. We estimate the exposure for environmental loss contingencies to range from $86 to a reasonably possible upper exposure of $100 as of 30 September 2013. | ||||
Actual costs to be incurred at identified sites in future periods may vary from the estimates, given inherent uncertainties in evaluating environmental exposures. Using reasonably possible alternative assumptions of the exposure level could result in an increase to the environmental accrual. Due to the inherent uncertainties related to environmental exposures, a significant increase to the reasonably possible upper exposure level could occur if a new site is designated, the scope of remediation is increased, a different remediation alternative is identified, or a significant increase in our proportionate share occurs. We do not expect that any sum we may have to pay in connection with environmental matters in excess of the amounts recorded or disclosed above would have a material adverse impact on our financial position or results of operations in any one year. | ||||
PACE | ||||
At 30 September 2013, $33.0 of the environmental accrual was related to the Pace facility. | ||||
In 2006, we sold our Amines business, which included operations at Pace, Florida and recognized a liability for retained environmental obligations associated with remediation activities at Pace. We are required by the Florida Department of Environmental Protection (FDEP) and the United States Environmental Protection Agency (USEPA) to continue our remediation efforts. We estimated that it would take about 20 years to complete the groundwater remediation, and the costs through completion were estimated to range from $42 to $52. As no amount within the range was a better estimate than another, we recognized a pretax expense in fiscal 2006 of $42.0 as a component of income from discontinued operations and recorded an environmental accrual of $42.0 in continuing operations on the consolidated balance sheets. There has been no change to the estimated exposure range related to the Pace facility. | ||||
We have implemented many of the remedial corrective measures at the Pace, Florida facility required under 1995 Consent Orders issued by the FDEP and the USEPA. Contaminated soils have been bioremediated, and the treated soils have been secured in a lined on-site disposal cell. Several groundwater recovery systems have been installed to contain and remove contamination from groundwater. We completed an extensive assessment of the site to determine how well existing measures are working, what additional corrective measures may be needed, and whether newer remediation technologies that were not available in the 1990s might be suitable to more quickly and effectively remove groundwater contaminants. Based on assessment results, we completed a focused feasibility study that appears to have identified new and alternative approaches that should more effectively remove contaminants and achieve the targeted remediation goals. We continue to review the new approaches with the FDEP. | ||||
PIEDMONT | ||||
At 30 September 2013, $19.5 of the environmental accrual was related to the Piedmont site. | ||||
On 30 June 2008, we sold our Elkton, Maryland, and Piedmont, South Carolina, production facilities and the related North American atmospheric emulsions and global pressure sensitive adhesives businesses. In connection with the sale, we recognized a liability for retained environmental obligations associated with remediation activities at the Piedmont site. This site is under active remediation for contamination caused by an insolvent prior owner. The sale of the site triggered expense recognition. Prior to the sale, remediation costs had been capitalized since they improved the property as compared to its condition when originally acquired. We are required by the South Carolina Department of Health and Environmental Control to address both contaminated soil and groundwater. Numerous areas of soil contamination have been addressed, and contaminated groundwater is being recovered and treated. We estimate that it will take until 2017 to complete source area remediation and another 15 years thereafter to complete groundwater recovery, with costs through completion estimated to be $24. We recognized a pretax expense in 2008 of $24.0 as a component of income from discontinued operations and recorded an environmental liability of $24.0 in continuing operations on the consolidated balance sheets. There has been no change to the estimated exposure. | ||||
PAULSBORO | ||||
At 30 September 2013, $6.1 of the environmental accrual was related to the Paulsboro site. | ||||
During the first quarter of 2009, management committed to a plan to sell the production facility in Paulsboro, New Jersey and recognized a $16.0 environmental liability associated with this site. The change in the liability balance since it was established is a result of spending and changes in the estimated exposure. In December 2009, we completed the sale of this facility. We are required by the New Jersey state law to investigate and, if contaminated, remediate a site upon its sale. We estimate that it will take several years to complete the investigation/remediation efforts at this site. | ||||
PASADENA | ||||
At 30 September 2013, $12.7 of the environmental accrual was related to the Pasadena site. | ||||
During the fourth quarter of 2012, management committed to permanently shutting down our PUI production facility in Pasadena, Texas. In shutting down and dismantling the facility, we will undertake certain remediation obligations related to soil and groundwater contaminants. We have been pumping and treating the groundwater to control off-site migration of contaminated groundwater in compliance with regulatory requirements and under the approval of the Texas Commission on Environmental Quality (TCEQ). We estimate that we will continue this program for 30 years subsequent to the shutdown of the PUI production facility. In addition, we will perform additional work to address other environmental obligations at the site. This additional work includes addressing the RCRA permitted hazardous waste management units, investigating other potential solid waste management units, performing post closure care for two closed RCRA surface impoundment units and establishing engineering controls. In 2012, we estimated the total exposure at this site to be $13.0. There has been no change to the estimated exposure. | ||||
Asset Retirement Obligations | ||||
The Company's asset retirement obligations are primarily associated with Tonnage Gases on-site long-term supply contracts, under which the Company has built a facility on land owned by the customer and is obligated to remove the facility at the end of the contract term. The retirement of assets includes the contractually required removal of a long-lived asset from service, and encompasses the sale, removal, abandonment, recycling, or disposal of the assets as required at the end of the contract terms. The timing and/or method of settlement of these obligations are conditional on a future event that may or may not be within our control. | ||||
Changes to the carrying amount of our asset retirement obligations are as follows: | ||||
Balance at 30 September 2011 | $ | 63.4 | ||
Additional accruals | 15 | |||
Liabilities settled | -5.7 | |||
Accretion expense | 3.4 | |||
Currency translation adjustment | 0.6 | |||
Balance at 30 September 2012 | $ | 76.7 | ||
Additional accruals | 12.9 | |||
Liabilities settled | -3.6 | |||
Accretion expense | 3.4 | |||
Currency translation adjustment | 0.4 | |||
Balance at 30 September 2013 | $ | 89.8 | ||
These obligations are primarily reflected in other noncurrent liabilities on the consolidated balance sheets. | ||||
Guarantees and Warranties | ||||
We are a party to certain guarantee agreements, including debt guarantees of equity affiliates and equity support agreements. These guarantees are contingent commitments that are related to activities of our primary businesses. | ||||
We have guaranteed repayment of some additional borrowings of certain unconsolidated equity affiliates. At 30 September 2013, these guarantees have terms in the range of one to eight years, with maximum potential payments of $4.7. | ||||
We have entered into an equity support agreement and operations guarantee related to an air separation facility constructed in Trinidad for a venture in which we own 50%. At 30 September 2013, maximum potential payments under joint and several guarantees were $49.5. Exposures under the guarantee decline over time and will be completely extinguished by 2024. | ||||
To date, no equity contributions or payments have been required since the inception of these guarantees. The fair value of the above guarantees is not material. | ||||
We, in the normal course of business operations, have issued product warranties in our Equipment business. Also, contracts often contain standard terms and conditions which typically include a warranty and indemnification to the buyer that the goods and services purchased do not infringe on third-party intellectual property rights. The provision for estimated future costs relating to warranties is not material to the consolidated financial statements. | ||||
We do not expect that any sum we may have to pay in connection with guarantees and warranties will have a material adverse effect on our consolidated financial condition, liquidity, or results of operations. | ||||
Put Option Agreements | ||||
In 2002, we entered into a put option agreement as part of the purchase of an additional interest in San Fu Gas Company, Ltd., renamed Air Products San Fu Company, Ltd. (San Fu), an industrial gas company in Taiwan. Currently, we have an ownership interest of 74% in San Fu. Put options were issued which give other shareholders the right to sell San Fu stock to us at market price when exercised. The options are effective through January 2015 and allow for the sale of all stock owned by other shareholders to us. We account for put options as contingent liabilities to purchase an asset. Since the inception of these agreements and through 30 September 2013, we determined that we were not certain that these options would be exercised by the other shareholders. The estimated U.S. dollar price of purchasing the stock owned by other shareholders based on the exchange rate at 30 September 2013 would be approximately $275. | ||||
In July 2012, we entered into an agreement that provides the largest minority shareholder of Indura S.A. a right to exercise a put option to require Air Products to purchase up to a 30.5% equity interest (approximately 16.3 million shares) during the two-year period beginning on 1 July 2015. We determined that the put option is embedded within minority interest shares that are subject to the put option. Therefore, the put option is accounted for within “Redeemable Noncontrolling Interest” in our consolidated balance sheets. Refer to Note 5, Business Combinations, and Note 20, Noncontrolling Interests, for further details. | ||||
Unconditional Purchase Obligations | ||||
We are obligated to make future payments under unconditional purchase obligations as summarized below: | ||||
2014 | $ | 821 | ||
2015 | 104 | |||
2016 | 104 | |||
2017 | 80 | |||
2018 | 65 | |||
Thereafter | 296 | |||
Total | $ | 1,470 | ||
Approximately $700 of our long-term unconditional purchase obligations relate to feedstock supply for numerous HyCO (hydrogen, carbon monoxide, and syngas) facilities. The price of feedstock supply is principally related to the price of natural gas. However, long-term take-or-pay sales contracts to HyCO customers are generally matched to the term of the feedstock supply obligations and provide recovery of price increases in the feedstock supply. Due to the matching of most long-term feedstock supply obligations to customer sales contracts, we do not believe these purchase obligations would have a material effect on our financial condition or results of operations. | ||||
The unconditional purchase obligations also include other product supply and purchase commitments and electric power and natural gas supply purchase obligations, which are primarily pass-through contracts with our customers. In addition, purchase commitments to spend approximately $625 for additional plant and equipment are included in the unconditional purchase obligations in 2014. |
Capital_Stock
Capital Stock | 12 Months Ended | |||||
Sep. 30, 2013 | ||||||
Capital Stock [Abstract] | ' | |||||
Capital Stock | ' | |||||
18. Capital Stock | ||||||
Common Stock | ||||||
Authorized common stock consists of 300 million shares with a par value of $1 per share. As of 30 September 2013, 249 million shares were issued, with 211 million outstanding. | ||||||
On 15 September 2011, the Board of Directors authorized the repurchase of up to $1,000 of our outstanding common stock. We repurchase shares pursuant to Rules 10b5-1 and 10b-18 under the Securities Exchange Act of 1934, as amended, through repurchase agreements established with several brokers. During fiscal year 2013, we purchased 5.7 million of our outstanding shares at a cost of $461.6. At 30 September 2013, $485.3 in share repurchase authorization remains. | ||||||
The following table reflects the changes in common shares: | ||||||
Year ended 30 September | 2013 | 2012 | 2011 | |||
Number of Common Shares Outstanding | ||||||
Balance, beginning of year | 212,475,880 | 210,185,256 | 213,802,865 | |||
Purchase of treasury shares | -5,721,017 | -594,916 | -7,433,612 | |||
Issuance of treasury shares for stock option and award plans | 4,424,394 | 2,885,540 | 3,816,003 | |||
Balance, end of year | 211,179,257 | 212,475,880 | 210,185,256 | |||
Preferred Stock | ||||||
Authorized preferred stock consists of 25 million shares with a par value of $1 per share, of which 2.5 million have been designated as Series A Junior Participating Preferred Stock in accordance with the Shareholder Rights Plan discussed below. At 30 September 2013, no shares of the preferred stock were issued or outstanding. | ||||||
Shareholder Rights Plan | ||||||
On 24 July 2013, the Board of Directors unanimously adopted a limited duration Shareholder Rights Plan under which common stockholders receive an associated right to purchase one one-thousandth (1/1,000) of a share of Series A Junior Participating Preferred Stock. These rights will trade with the shares of our common stock and will be exercisable at a price of $300.00 in the event of certain changes in beneficial ownership of the Company. | ||||||
Under the Shareholder Rights Plan, the rights generally will become exercisable only if a person or group acquires beneficial ownership of 10 percent (or 20 percent in the case of institutional investors filing on Schedule 13G) or more of our common stock in a transaction not approved by our Board of Directors (an “Acquiring Person”). In that situation, each holder of a right (other than the Acquiring Person) will have the right to purchase, at the exercise price, common shares having a market value equal to twice the exercise price. In addition, in the event of a merger or business combination with the Acquiring Person, each holder of the right will thereafter have the right to purchase, at the exercise price, common shares of the Acquiring Person having a market value equal to twice the exercise price. The rights will expire on 24 July 2014 unless redeemed earlier by the Company for $0.001 per right. |
ShareBased_Compensation
Share-Based Compensation | 12 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Share-Based Compensation [Abstract] | ' | ||||||||
Share-Based Compensation | ' | ||||||||
19. Share-Based Compensation | |||||||||
We have various share-based compensation programs, which include stock options, deferred stock units, and restricted stock. Under all programs, the terms of the awards are fixed at the grant date. We issue shares from treasury stock upon the exercise of stock options, the payout of deferred stock units, and the issuance of restricted stock awards. As of 30 September 2013, there were 6,610,360 shares available for future grant under our Long-Term Incentive Plan, which is shareholder approved. | |||||||||
Share-based compensation cost recognized in the consolidated income statements is summarized below: | |||||||||
2013 | 2012 | 2011 | |||||||
Before-Tax Share-Based Compensation Cost | $ | 43.5 | $ | 43.8 | $ | 44.8 | |||
Income tax benefit | -15.7 | -15.7 | -17.1 | ||||||
After-Tax Share-Based Compensation Cost | $ | 27.8 | $ | 28.1 | $ | 27.7 | |||
Before-tax share-based compensation cost is primarily included in selling and administrative expense on our consolidated income statements. The amount of share-based compensation cost capitalized in 2013, 2012, and 2011 was not material. | |||||||||
Total before-tax share-based compensation cost by type of program was as follows: | |||||||||
2013 | 2012 | 2011 | |||||||
Stock options | $ | 21.5 | $ | 22.1 | $ | 21.4 | |||
Deferred stock units | 19.6 | 19.5 | 20.8 | ||||||
Restricted stock | 2.4 | 2.2 | 2.6 | ||||||
Before-Tax Share-Based Compensation Cost | $ | 43.5 | $ | 43.8 | $ | 44.8 | |||
Stock Options | |||||||||
We have granted awards of options to purchase common stock to executives and selected employees. The exercise price of stock options equals the market price of our stock on the date of the grant. Options generally vest incrementally over three years, and remain exercisable for ten years from the date of grant. | |||||||||
Fair values of stock options were estimated using a Black Scholes model that used the assumptions noted in the table below. Expected volatility and expected dividend yield are based on actual historical experience of our stock and dividends over the historical period equal to the expected life. The expected life represents the period of time that options granted are expected to be outstanding based on an analysis of Company-specific historical exercise data. The range given below results from certain groups of employees exhibiting different behavior. Groups of employees that have similar historical exercise behavior were considered separately for valuation purposes. The risk-free rate is based on the U.S. Treasury Strips with terms equal to the expected time of exercise as of the grant date. | |||||||||
2013 | 2012 | 2011 | |||||||
Expected volatility | 28.6%–30.4 | % | 29.0%–30.4 | % | 29.2%–30.0 | % | |||
Expected dividend yield | 2.4 | % | 2.3 | % | 2.2 | % | |||
Expected life (in years) | 7.3–9.1 | 7.3–9.0 | 7.0–8.7 | ||||||
Risk-free interest rate | 1.2%–1.5 | % | 1.7%–2.1 | % | 2.4%–2.9 | % | |||
The weighted average grant-date fair value of options granted during 2013, 2012, and 2011 was $19.85, $21.43, and $23.83, per option, respectively. | |||||||||
A summary of stock option activity is presented below: | |||||||||
Weighted Average | |||||||||
Stock Options | Shares (000) | Exercise Price | |||||||
Outstanding at 30 September 2012 | 11,835 | $ | 67.79 | ||||||
Granted | 1,140 | 81.76 | |||||||
Exercised | -4,263 | 55.17 | |||||||
Forfeited/Expired | -100 | 85.37 | |||||||
Outstanding at 30 September 2013 | 8,612 | $ | 75.69 | ||||||
Exercisable at 30 September 2013 | 6,531 | $ | 73.23 | ||||||
Weighted Average | |||||||||
Remaining Contractual | Aggregate Intrinsic | ||||||||
Stock Options | Terms (in years) | Value | |||||||
Outstanding at 30 September 2013 | 5.3 | $ | 268 | ||||||
Exercisable at 30 September 2013 | 4.3 | $ | 218 | ||||||
The aggregate intrinsic value represents the amount by which our closing stock price of $106.57 as of 30 September 2013 exceeds the exercise price multiplied by the number of in-the-money options outstanding or exercisable. | |||||||||
The total intrinsic value of stock options exercised during 2013, 2012, and 2011 was $170.4, $110.6, and $180.8, respectively. | |||||||||
Compensation cost is generally recognized over the stated vesting period consistent with the terms of the arrangement (i.e., either on a straight-line or graded-vesting basis). Expense recognition is accelerated for retirement-eligible individuals who would meet the requirements for vesting of awards upon their retirement. As of 30 September 2013, there was $9.7 of unrecognized compensation cost related to nonvested stock options, which is expected to be recognized over a weighted average period of 2.0 years. | |||||||||
Cash received from option exercises during 2013 was $226.4. The total tax benefit realized from stock option exercises in 2013 was $61.6, of which $34.0 was the excess tax benefit. | |||||||||
Deferred Stock Units and Restricted Stock | |||||||||
The grant-date fair value of deferred stock units and restricted stock is estimated on the date of grant based on the market price of the stock, and compensation cost is generally amortized to expense on a straight-line basis over the vesting period during which employees perform related services. Expense recognition is accelerated for retirement-eligible individuals who would meet the requirements for vesting of awards upon their retirement. | |||||||||
Deferred Stock Units | |||||||||
We have granted deferred stock units to executives, selected employees, and outside directors. These deferred stock units entitle the recipient to one share of common stock upon vesting, which is conditioned on continued employment during the deferral period and may also be conditioned on achieving certain performance targets. The deferral period for some units ends after death, disability, or retirement. The deferral period for other performance-based deferred stock units ends at the end of the performance period (one to three years). Additionally, we have granted deferred stock units, subject to a three-, four-, or five-year deferral period, to selected employees. Deferred stock units issued to directors are paid after service on the Board of Directors ends at the time elected by the director (not to exceed 10 years after service ends). | |||||||||
Weighted Average | |||||||||
Deferred Stock Units | Shares (000) | Grant-Date Fair Value | |||||||
Outstanding at 30 September 2012 | 1,416 | $ | 69.09 | ||||||
Granted | 264 | 82.78 | |||||||
Paid out | -393 | 56.36 | |||||||
Forfeited/adjustments | -23 | 83.23 | |||||||
Outstanding at 30 September 2013 | 1,264 | $ | 75.64 | ||||||
Cash payments made for deferred stock units were $1.9, $1.8, and $1.0 in 2013, 2012, and 2011, respectively. As of 30 September 2013, there was $24.3 of unrecognized compensation cost related to deferred stock units. The cost is expected to be recognized over a weighted average period of 2.4 years. The total fair value of deferred stock units paid out during 2013, 2012, and 2011, including shares vested in prior periods, was $32.3, $22.0, and $26.3, respectively. | |||||||||
Restricted Stock | |||||||||
We have issued shares of restricted stock to certain officers. Participants are entitled to cash dividends and to vote their respective shares. Shares granted since 2007 vest in four years or upon earlier retirement, death, or disability. Shares granted prior to 2007 are subject to forfeiture if employment is terminated other than due to death, disability, or retirement. The shares are nontransferable while subject to forfeiture. | |||||||||
Weighted Average | |||||||||
Restricted Stock | Shares (000) | Grant-Date Fair Value | |||||||
Outstanding at 30 September 2012 | 143 | $ | 73.61 | ||||||
Granted | 34 | 81.57 | |||||||
Vested | -53 | 67.12 | |||||||
Outstanding at 30 September 2013 | 124 | $ | 78.51 | ||||||
As of 30 September 2013, there was $1.9 of unrecognized compensation cost related to restricted stock awards. The cost is expected to be recognized over a weighted average period of 2.3 years. The total fair value of restricted stock vested during 2013, 2012, and 2011 was $4.4, $2.0, and $1.6, respectively. |
Noncontrolling_Interests
Noncontrolling Interests | 12 Months Ended | ||||
Sep. 30, 2013 | |||||
Noncontrolling Interests | ' | ||||
Noncontrolling Interests | ' | ||||
20. NONCONTROLLING INTERESTS | |||||
INDURA S.A. | |||||
Redeemable Noncontrolling Interest | |||||
The largest minority shareholder in Indura S.A. has the right to exercise a put option to require us to purchase up to a 30.5% equity interest during the two-year period beginning on 1 July 2015, at a redemption value equal to fair market value (subject to a minimum price based upon the acquisition date value escalated by an inflation factor). We determined that the put option is embedded within the minority interest shares that are subject to the put option. The redemption feature requires classification of the minority shareholder's interest in the consolidated balance sheet outside of equity under the caption “Redeemable Noncontrolling Interest.” | |||||
The redeemable noncontrolling interest of Indura S.A. was recorded on the acquisition date based on the estimated fair value of the shares including the embedded put option. As Indura S.A. shares are not publicly traded, the fair value of the shares was estimated based on trading multiples for similar companies in the Chilean stock market and recent transactions. The fair value of the put option was estimated using standard equity option pricing techniques, expected dividend payouts, and assumptions that market participants would use regarding equity volatility and the risk-free rate of return. Subsequent adjustments to the value of the redeemable noncontrolling interest due to the redemption feature, if any, will be recognized as they occur and recorded within capital in excess of par value. | |||||
The following is a rollforward of the redeemable noncontrolling interest: | |||||
Balance at 30 September 2011 | $ | - | |||
Indura acquisition | 374.1 | ||||
Net loss | -2.4 | ||||
Currency translation adjustment | 20.8 | ||||
Balance at 30 September 2012 | $ | 392.5 | |||
Net income | 8.1 | ||||
Dividends | -1.1 | ||||
Currency translation adjustment | -23.7 | ||||
Balance at 30 September 2013 | $ | 375.8 | |||
As redeemable noncontrolling interest is not part of total equity, the impacts above are excluded from our consolidated statements of equity. |
Earnings_per_Share
Earnings per Share | 12 Months Ended | ||||||||||
Sep. 30, 2013 | |||||||||||
Earnings Per Share | ' | ||||||||||
Earnings per Share | ' | ||||||||||
21. EARNINGS PER SHARE | |||||||||||
The following table sets forth the computation of basic and diluted earnings per share (EPS): | |||||||||||
30-Sep | 2013 | 2012 | 2011 | ||||||||
Numerator | |||||||||||
Income from continuing operations | $ | 1,004.20 | $ | 999.2 | $ | 1,134.30 | |||||
Income (Loss) from discontinued operations | -10 | 168.1 | 89.9 | ||||||||
Net Income Attributable to Air Products | $ | 994.2 | $ | 1,167.30 | $ | 1,224.20 | |||||
Denominator (in millions) | |||||||||||
Weighted average common shares—Basic | 209.7 | 211.2 | 213 | ||||||||
Effect of dilutive securities | |||||||||||
Employee stock option and other award plans | 2.6 | 3.5 | 4.6 | ||||||||
Weighted average common shares—Diluted | 212.3 | 214.7 | 217.6 | ||||||||
Basic EPS Attributable to Air Products | |||||||||||
Income from continuing operations | $ | 4.79 | $ | 4.73 | $ | 5.33 | |||||
Income (Loss) from discontinued operations | -0.05 | 0.8 | 0.42 | ||||||||
Net Income Attributable to Air Products | $ | 4.74 | $ | 5.53 | $ | 5.75 | |||||
Diluted EPS Attributable to Air Products | |||||||||||
Income from continuing operations | $ | 4.73 | $ | 4.66 | $ | 5.22 | |||||
Income (Loss) from discontinued operations | -0.05 | 0.78 | 0.41 | ||||||||
Net Income Attributable to Air Products | $ | 4.68 | $ | 5.44 | $ | 5.63 | |||||
Diluted EPS attributable to Air Products reflects the potential dilution that could occur if stock options or other share-based awards were exercised or converted into common stock. The dilutive effect is computed using the treasury stock method, which assumes all share-based awards are exercised and the hypothetical proceeds from exercise are used by the Company to purchase common stock at the average market price during the period. The incremental shares (difference between shares assumed to be issued versus purchased), to the extent they would have been dilutive, are included in the denominator of the diluted EPS calculation. Options on 2.1 million shares, 3.6 million shares, and 2.1 million shares were antidilutive and therefore excluded from the computation of diluted EPS for 2013, 2012, and 2011, respectively. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||
Sep. 30, 2013 | |||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||
Income Taxes | ' | ||||||||||
22. INCOME TAXES | |||||||||||
The following table summarizes the income of U.S. and foreign operations before taxes: | |||||||||||
2013 | 2012 | 2011 | |||||||||
Income from Continuing Operations before Taxes | |||||||||||
United States | $ | 428.5 | $ | 518.6 | $ | 625.5 | |||||
Foreign | 754.1 | 640.1 | 767.1 | ||||||||
Income from equity affiliates | 167.8 | 153.8 | 154.3 | ||||||||
Total | $ | 1,350.40 | $ | 1,312.50 | $ | 1,546.90 | |||||
The following table shows the components of the provision for income taxes: | |||||||||||
2013 | 2012 | 2011 | |||||||||
Current Tax Provision | |||||||||||
Federal | $ | 97.6 | $ | 43.1 | $ | 14.7 | |||||
State | 6.5 | 9.6 | 20.1 | ||||||||
Foreign | 191 | 173.9 | 153.8 | ||||||||
295.1 | 226.6 | 188.6 | |||||||||
Deferred Tax Provision | |||||||||||
Federal | 27.7 | 76.5 | 181.6 | ||||||||
State | -7.8 | 4 | 2.6 | ||||||||
Foreign | -7.1 | -19.8 | 2.5 | ||||||||
12.8 | 60.7 | 186.7 | |||||||||
Income Tax Provision | $ | 307.9 | $ | 287.3 | $ | 375.3 | |||||
A reconciliation of the differences between the United States federal statutory tax rate and the effective tax rate is as follows: | |||||||||||
(Percent of income before taxes) | 2013 | 2012 | 2011 | ||||||||
U.S. federal statutory tax rate | 35 | % | 35 | % | 35 | % | |||||
State taxes, net of federal benefit | 0.5 | 0.7 | 1 | ||||||||
Income from equity affiliates | -4.3 | -4 | -3.3 | ||||||||
Foreign taxes and credits | -6.9 | -8.6 | -7.1 | ||||||||
Domestic production activities | -0.6 | -0.9 | -0.6 | ||||||||
Tax audit settlements and adjustments | ― | -1.1 | -1.1 | ||||||||
Other | -0.9 | 0.8 | 0.4 | ||||||||
Effective Tax Rate | 22.8 | % | 21.9 | % | 24.3 | % | |||||
Income tax payments, net of refunds, were $325.5 in 2013, $255.7 in 2012, and $159.9 in 2011. | |||||||||||
The significant components of deferred tax assets and liabilities are as follows: | |||||||||||
30-Sep | 2013 | 2012 | |||||||||
Gross Deferred Tax Assets | |||||||||||
Retirement benefits and compensation accruals | $ | 347.2 | $ | 520.4 | |||||||
Tax loss carryforwards | 53.3 | 57.4 | |||||||||
Tax credits and other tax carryforwards | 66.6 | 52.8 | |||||||||
Reserves and accruals | 140.3 | 188.9 | |||||||||
Asset impairment | ― | 25.4 | |||||||||
Currency losses | 34.8 | ― | |||||||||
Other | 40.1 | 43.2 | |||||||||
Valuation allowance | -44.7 | -36.6 | |||||||||
Deferred Tax Assets | 637.6 | 851.5 | |||||||||
Gross Deferred Tax Liabilities | |||||||||||
Plant and equipment | 1,066.40 | 1,089.50 | |||||||||
Currency gains | ― | 20.3 | |||||||||
Unremitted earnings of foreign entities | 80.6 | 71.9 | |||||||||
Intangible assets | 135.5 | 135.3 | |||||||||
Other | 17.8 | 10.2 | |||||||||
Deferred Tax Liabilities | 1,300.30 | 1,327.20 | |||||||||
Net Deferred Income Tax Liability | $ | 662.7 | $ | 475.7 | |||||||
Deferred tax assets and liabilities are included within the consolidated financial statements as follows: | |||||||||||
2013 | 2012 | ||||||||||
Deferred Tax Assets | |||||||||||
Other receivables and current assets | $ | 115.3 | $ | 129 | |||||||
Other noncurrent assets | 53.1 | 73.7 | |||||||||
Total Deferred Tax Assets | 168.4 | 202.7 | |||||||||
Deferred Tax Liabilities | |||||||||||
Payables and accrued liabilities | 3.9 | 7.6 | |||||||||
Deferred income taxes | 827.2 | 670.8 | |||||||||
Total Deferred Tax Liabilities | 831.1 | 678.4 | |||||||||
Net Deferred Income Tax Liability | $ | 662.7 | $ | 475.7 | |||||||
The increase in net deferred income tax liability primarily resulted from decreases in liability associated with retirement benefits. Refer to Note 16, Retirement Benefits, for additional information. | |||||||||||
Foreign and state loss carryforwards as of 30 September 2013 were $154.9 and $301.0, respectively. As of 30 September 2013, foreign tax credits and other tax carryforwards were $46.9, and U.S. tax credits were $19.7. Unused foreign loss carryforwards, tax credits, and other tax carryforwards of $117.9 have expiration periods that range from 2014 to 2023; the remainder have unlimited carryforward periods. State loss carryforwards have expiration periods that range between fiscal years 2014 and 2033, and U.S. tax credits mainly expire in 2023. | |||||||||||
The net change in the valuation allowance was an increase of $8.1 for the year ended 30 September 2013. The valuation allowance as of 30 September 2013 primarily relates to the foreign and state loss carryforwards, tax credits, and other tax carryforwards referenced above. If events warrant the reversal of the $44.7 valuation allowance, it would result in a reduction of tax expense. We believe it is more likely than not that future earnings will be sufficient to utilize our deferred tax asset, net of existing valuation allowance, at 30 September 2013. | |||||||||||
We record U.S. income taxes on the undistributed earnings of our foreign subsidiaries and corporate joint ventures unless those earnings are permanently reinvested in the companies that produced them. These cumulative undistributed earnings that are considered to be permanently reinvested in foreign subsidiaries and corporate joint ventures are included in retained earnings on the consolidated balance sheets and amounted to $5,524.9 as of 30 September 2013. An estimated $1,400.3 in U.S. income and foreign withholding taxes would be due if these earnings were remitted as dividends after payment of all deferred taxes. As more than 90% of the undistributed earnings are in countries with a statutory tax rate of 24% or higher, we do not generate a disproportionate amount of taxable income in countries with very low tax rates. | |||||||||||
A reconciliation of the beginning and ending amount of the unrecognized tax benefits is as follows: | |||||||||||
Unrecognized Tax Benefits | 2013 | 2012 | 2011 | ||||||||
Balance at beginning of year | $ | 110.8 | $ | 126.4 | $ | 197.8 | |||||
Additions for tax positions of the current year | 12.7 | 44.5 | 16.3 | ||||||||
Additions for tax positions of prior years | 9 | 2.3 | 5.7 | ||||||||
Reductions for tax positions of prior years | -0.5 | -46.9 | -72.4 | ||||||||
Settlements | -1.4 | -11 | -15.6 | ||||||||
Statute of limitations expiration | -8 | -3.7 | -4.8 | ||||||||
Foreign currency translation | 1.7 | -0.8 | -0.6 | ||||||||
Balance at End of Year | $ | 124.3 | $ | 110.8 | $ | 126.4 | |||||
At 30 September 2013 and 2012, we had $124.3 and $110.8 of unrecognized tax benefits, excluding interest and penalties, of which $63.1 and $56.9, respectively, would impact the effective tax rate if recognized. | |||||||||||
Interest and penalties related to unrecognized tax benefits are recorded as a component of income tax expense and totaled $2.4 in 2013, $(26.1) in 2012, and $(2.4) in 2011. Our accrued balance for interest and penalties was $8.1 and $7.2 in 2013 and 2012, respectively. | |||||||||||
We were challenged by the Spanish tax authorities over income tax deductions taken by certain of our Spanish subsidiaries during fiscal years 2005–2011. In November 2011, we reached a settlement with the Spanish tax authorities for €41.3 million ($56) in resolution of all tax issues under examination. This settlement increased our income tax expense for the fiscal year ended 30 September 2012 by $43.8 ($.20 per share) and had a 3.3% impact on our effective tax rate. As a result of this settlement, we recorded a reduction in unrecognized tax benefits of $6.4 for tax positions taken in prior years and $11.0 for settlements. | |||||||||||
On 25 January 2012, the Spanish Supreme Court released its decision in favor of our Spanish subsidiary related to certain tax transactions for years 1991 and 1992, a period before we controlled this subsidiary. As a result, in the second quarter of 2012, we recorded a reduction in income tax expense of $58.3 ($.27 per share), resulting in a 4.4% reduction in our effective tax rate for the fiscal year ended 30 September 2012. As a result of this ruling, we recorded a reduction in unrecognized tax benefits of $38.3 for tax positions taken in prior years. | |||||||||||
During the third quarter of 2012, our unrecognized tax benefits increased $33.3 as a result of certain tax positions taken in conjunction with the disposition of our Homecare business. When resolved, these benefits will be recognized in “Income from discontinued operations, net of tax” on our consolidated income statements and will not impact our effective tax rate. For additional information, see Note 3, Discontinued Operations. | |||||||||||
In the third quarter of 2011, a U.S. Internal Revenue Service audit over tax years 2007 and 2008 was completed, resulting in a decrease in unrecognized tax benefits of $36.0 and a favorable impact to earnings of $23.9. This included a tax benefit of $8.9 ($.04 per share) recognized in income from discontinued operations for fiscal year 2011, as it relates to the previously divested U.S. Healthcare business. | |||||||||||
We are also currently under examination in a number of tax jurisdictions, some of which may be resolved in the next twelve months. As a result, it is reasonably possible that a change in the unrecognized tax benefits may occur during the next twelve months. However, quantification of an estimated range cannot be made at this time. | |||||||||||
We generally remain subject to examination in the following major tax jurisdictions for the years indicated below: | |||||||||||
Major Tax Jurisdiction | Open Tax Years | ||||||||||
North America | |||||||||||
United States | 2009–2013 | ||||||||||
Canada | 2008–2013 | ||||||||||
Europe | |||||||||||
France | 2009–2013 | ||||||||||
Germany | 2006–2013 | ||||||||||
Netherlands | 2008–2013 | ||||||||||
Poland | 2008–2013 | ||||||||||
Spain | 2009–2013 | ||||||||||
United Kingdom | 2010–2013 | ||||||||||
Asia | |||||||||||
China | 2008–2013 | ||||||||||
Singapore | 2008–2013 | ||||||||||
South Korea | 2008–2013 | ||||||||||
Taiwan | 2009–2013 | ||||||||||
Latin America | |||||||||||
Brazil | 2008–2013 | ||||||||||
Chile | 2010–2013 |
Supplemental_Information
Supplemental Information | 12 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Supplemental Information [Abstract] | ' | ||||||||
Supplemental Information | ' | ||||||||
23. SUPPLEMENTAL INFORMATION | |||||||||
Other Receivables and Current Assets | |||||||||
30-Sep | 2013 | 2012 | |||||||
Deferred tax assets | $ | 115.3 | $ | 129 | |||||
Derivative instruments | 61.8 | 14.7 | |||||||
Other receivables | 174.1 | 126.3 | |||||||
Current capital lease receivables | 67.2 | 62 | |||||||
Other | 14 | 10 | |||||||
$ | 432.4 | $ | 342 | ||||||
Other Noncurrent Assets | |||||||||
30-Sep | 2013 | 2012 | |||||||
Derivative instruments | $ | 64.1 | $ | 112.9 | |||||
Other long-term receivables | 38.2 | 47.8 | |||||||
Deferred financing cost, net | 27 | 24.3 | |||||||
Prepaid tax | 34.1 | - | |||||||
Deferred tax assets | 53.1 | 73.7 | |||||||
Pension benefits | 20.5 | 0.9 | |||||||
Other | 156.5 | 134 | |||||||
$ | 393.5 | $ | 393.6 | ||||||
Payables and Accrued Liabilities | |||||||||
30-Sep | 2013 | 2012 | |||||||
Trade creditors | $ | 1,025.50 | $ | 1,004.90 | |||||
Customer advances | 162.7 | 155 | |||||||
Accrued payroll and employee benefits | 133.5 | 137.7 | |||||||
Pension benefits | 14.7 | 13.5 | |||||||
Dividends payable | 150 | 136 | |||||||
Outstanding payments in excess of certain cash balances | 10.5 | 26.3 | |||||||
Accrued interest expense | 54.1 | 48.4 | |||||||
Derivative instruments | 27.5 | 34.8 | |||||||
Contingent proceeds related to Homecare retenders | 148.1 | - | |||||||
Liability related to purchase of shares from noncontrolling interests | - | 10.6 | |||||||
Contract actions associated with business restructuring | 1.9 | 100 | |||||||
Severance and other costs associated with business restructuring and cost reduction plans | 65.2 | 89.4 | |||||||
Other | 151.2 | 171.1 | |||||||
$ | 1,944.90 | $ | 1,927.70 | ||||||
Other Noncurrent Liabilities | |||||||||
30-Sep | 2013 | 2012 | |||||||
Pension benefits | $ | 599 | $ | 1,234.80 | |||||
Postretirement benefits | 89 | 107.3 | |||||||
Other employee benefits | 114.3 | 123 | |||||||
Contingencies related to uncertain tax positions | 94.2 | 112.1 | |||||||
Advance payments | 31 | 32.7 | |||||||
Environmental liabilities | 79.6 | 80.3 | |||||||
Contingent proceeds related to Homecare retenders | - | 140.8 | |||||||
Derivative instruments | 13.8 | 12 | |||||||
Asset retirement obligations | 86 | 71.2 | |||||||
Other | 57.4 | 66.7 | |||||||
$ | 1,164.30 | $ | 1,980.90 | ||||||
Accumulated Other Comprehensive Income (Loss) | |||||||||
30-Sep | 2013 | 2012 | 2011 | ||||||
Net unrecognized loss on derivatives qualifying as hedges | $ | -4.1 | $ | -18.9 | $ | -9.5 | |||
Foreign currency translation adjustments | -61.5 | -38.8 | -130.9 | ||||||
Pension and postretirement benefits | -955 | -1,291.10 | -1,113.00 | ||||||
$ | -1,020.60 | $ | -1,348.80 | $ | -1,253.40 | ||||
Other Income (Expense), Net | |||||||||
30-Sep | 2013 | 2012 | 2011 | ||||||
Technology and royalty income | $ | 23.4 | $ | 22.9 | $ | 24.3 | |||
Interest income | 6.4 | 5.4 | 5.7 | ||||||
Foreign exchange | -3.2 | 1.1 | -8.6 | ||||||
Sale of assets and investments | 20 | 8.4 | 14.6 | ||||||
Government grants | 6.8 | 15.2 | 9.5 | ||||||
Other | 16.8 | -5.9 | -3.8 | ||||||
$ | 70.2 | $ | 47.1 | $ | 41.7 | ||||
Advisory Costs | |||||||||
During the fourth quarter of 2013, we incurred legal and other advisory fees of $10.1 ($6.4 after-tax, or $.03 per share) in connection with our response to the rapid acquisition of a large position in shares of our common stock by Pershing Square Capital Management LLC and its affiliates (Pershing Square). These fees, which are reflected on the consolidated income statements as “Advisory Costs,” include costs incurred before and after Pershing Square's disclosure of its holdings and cover advisory services related to the adoption of the Shareholders Rights Plan, preparation for a potential proxy solicitation campaign, and entering into an agreement with Pershing Square. | |||||||||
Customer Bankruptcy | |||||||||
As a result of events which occurred during the fourth quarter of 2012, we recognized a charge of $9.8 ($6.1 after-tax, or $.03 per share) primarily related to the write-off of on-site assets due to a customer bankruptcy and mill shutdown. The customer, which primarily received products from the Tonnage Gases segment, filed for bankruptcy in May 2012. Sales and operating income associated with this customer are not material to the Tonnage Gases segment's results. We do not expect to recognize additional charges related to this customer. |
Summary_by_Quarter_Unaudited
Summary by Quarter (Unaudited) | 12 Months Ended | |||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | |||||||||||||||||
Quarterly Financial Information [Text Block] | ' | |||||||||||||||||
24. SUMMARY BY QUARTER (UNAUDITED) | ||||||||||||||||||
These tables summarize the unaudited results of operations for each quarter of 2013 and 2012: | ||||||||||||||||||
2013 | First | Second | Third | Fourth | Total | |||||||||||||
Sales | $ | 2,562.40 | $ | 2,484.20 | $ | 2,547.30 | $ | 2,586.50 | $ | 10,180.40 | ||||||||
Gross profit | 662.3 | 670.6 | 671.8 | 703.6 | 2,708.30 | |||||||||||||
Business restructuring and cost reduction plans(A) | - | - | - | 231.6 | 231.6 | |||||||||||||
Pension settlement loss(B) | - | - | 4.5 | 7.9 | 12.4 | |||||||||||||
Advisory costs(C) | - | - | - | 10.1 | 10.1 | |||||||||||||
Operating income | 372.4 | 389.7 | 383.1 | 179.2 | 1,324.40 | |||||||||||||
Net income | 287.2 | 299.6 | 298.4 | 147.3 | 1,032.50 | |||||||||||||
Net Income attributable to Air Products | ||||||||||||||||||
Income from continuing operations | 276.9 | 289.3 | 287.8 | 150.2 | 1,004.20 | |||||||||||||
Income (Loss) from discontinued operations | 1.4 | 1.1 | 0.6 | -13.1 | -10 | |||||||||||||
Net Income attributable to Air Products | 278.3 | 290.4 | 288.4 | 137.1 | 994.2 | |||||||||||||
Basic EPS attributable to Air Products | ||||||||||||||||||
Income from continuing operations | 1.32 | 1.38 | 1.38 | 0.71 | 4.79 | |||||||||||||
Income (Loss) from discontinued operations | 0.01 | 0.01 | - | -0.06 | -0.05 | |||||||||||||
Net income per common share | 1.33 | 1.39 | 1.38 | 0.65 | 4.74 | |||||||||||||
Diluted EPS attributable to Air Products | ||||||||||||||||||
Income from continuing operations | 1.3 | 1.37 | 1.36 | 0.7 | 4.73 | |||||||||||||
Income (Loss) from discontinued operations | 0.01 | 0.01 | - | -0.06 | -0.05 | |||||||||||||
Net income per common share | 1.31 | 1.38 | 1.36 | 0.64 | 4.68 | |||||||||||||
Dividends declared per common share | 0.64 | 0.71 | 0.71 | 0.71 | 2.77 | |||||||||||||
Market price per common share: | ||||||||||||||||||
High | 86.31 | 90.34 | 97.12 | 114.75 | ||||||||||||||
Low | 76.78 | 84.15 | 84.04 | 90.12 | ||||||||||||||
2012 | First | Second | Third | Fourth | Total | |||||||||||||
Sales | $ | 2,321.50 | $ | 2,344.30 | $ | 2,340.10 | $ | 2,605.80 | $ | 9,611.70 | ||||||||
Gross profit | 599.2 | 628.5 | 649.3 | 682.8 | 2,559.80 | |||||||||||||
Business restructuring and cost reduction plans(A) | - | 86.8 | - | 240.6 | 327.4 | |||||||||||||
Gain on previously held equity interest(D) | - | - | 85.9 | - | 85.9 | |||||||||||||
Customer bankruptcy(C) | - | - | - | 9.8 | 9.8 | |||||||||||||
Operating income | 353.8 | 287.9 | 482.8 | 157.9 | 1,282.40 | |||||||||||||
Net income | 256.3 | 302.2 | 492.5 | 142.3 | 1,193.30 | |||||||||||||
Net Income attributable to Air Products | ||||||||||||||||||
Income from continuing operations | 225.9 | 279 | 357.2 | 137.1 | 999.2 | |||||||||||||
Income from discontinued operations | 22.2 | 17 | 127.3 | 1.6 | 168.1 | |||||||||||||
Net Income attributable to Air Products | 248.1 | 296 | 484.5 | 138.7 | 1,167.30 | |||||||||||||
Basic EPS attributable to Air Products | ||||||||||||||||||
Income from continuing operations | 1.07 | 1.32 | 1.69 | 0.65 | 4.73 | |||||||||||||
Income from discontinued operations | 0.11 | 0.08 | 0.6 | 0.01 | 0.8 | |||||||||||||
Net income per common share | 1.18 | 1.4 | 2.29 | 0.66 | 5.53 | |||||||||||||
Diluted EPS attributable to Air Products | ||||||||||||||||||
Income from continuing operations | 1.06 | 1.3 | 1.66 | 0.64 | 4.66 | |||||||||||||
Income from discontinued operations | 0.1 | 0.08 | 0.6 | 0.01 | 0.78 | |||||||||||||
Net income per common share | 1.16 | 1.38 | 2.26 | 0.65 | 5.44 | |||||||||||||
Dividends declared per common share | 0.58 | 0.64 | 0.64 | 0.64 | 2.5 | |||||||||||||
Market price per common share: | ||||||||||||||||||
High | 90.2 | 92.48 | 92.79 | 85.83 | ||||||||||||||
Low | 72.26 | 85.6 | 76.11 | 77.21 | ||||||||||||||
(A) For additional information, see Note 4, Business Restructuring and Cost Reduction Plans. | ||||||||||||||||||
(B) For additional information, see Note 16, Retirement Benefits. During the third quarter, the pension settlements loss of $4.5 was | ||||||||||||||||||
presented in other income (expense), net. | ||||||||||||||||||
(C) For additional information, see Note 23, Supplemental Information. | ||||||||||||||||||
(D) For additional information, see Note 5, Business Combinations. |
Business_Segment_and_Geographi
Business Segment and Geographic Information | 12 Months Ended | |||||||||
Sep. 30, 2013 | ||||||||||
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract] | ' | |||||||||
Business Segment and Geographic Information | ' | |||||||||
25. Business Segment and Geographic Information | ||||||||||
Our segments are organized based on differences in product and/or type of customer. We have four business segments consisting of Merchant Gases, Tonnage Gases, Electronics and Performance Materials, and Equipment and Energy. | ||||||||||
Merchant Gases | ||||||||||
The Merchant Gases segment sells atmospheric gases such as oxygen, nitrogen, and argon (primarily recovered by the cryogenic distillation of air); process gases such as hydrogen and helium (purchased or refined from crude helium); and medical and specialty gases, along with certain services and equipment, throughout the world to customers in many industries, including those in metals, glass, chemical processing, food processing, healthcare, general manufacturing, and petroleum and natural gas industries. The principal types of products are liquid bulk, packaged gases and hardgoods, and small on-site plants. Most merchant product is delivered via bulk supply, in liquid or gaseous form, by tanker or tube trailer. Smaller quantities of industrial and specialty gases are delivered in cylinders and dewars as “packaged gases,” or through small on-sites (cryogenic or noncryogenic generators). Electricity is the largest cost component in the production of atmospheric gases. Natural gas is also an energy source at a number of our Merchant Gases facilities. We mitigate energy and natural gas prices through pricing formulas and surcharges. The Merchant Gases segment also includes our share of the results of several joint ventures accounted for by the equity method. The largest of these joint ventures operate in Mexico, Italy, South Africa, India, Saudi Arabia, and Thailand. Merchant Gases competes worldwide against global industrial gas companies and several regional sellers. Competition in industrial gases is based primarily on price, reliability of supply, and the development of industrial gas applications. | ||||||||||
Tonnage Gases | ||||||||||
Tonnage Gases provides hydrogen, carbon monoxide, nitrogen, oxygen, and syngas principally to the energy production and refining, chemical, and metallurgical industries worldwide. For large-volume, or “tonnage” industrial gas users, we either construct a gas plant adjacent to or near the customer's facility—hence the term “on-site”—or deliver product through a pipeline from a nearby location. We are the world's largest provider of hydrogen, which is used by refiners to lower the sulfur content of gasoline and diesel fuels to reduce smog and ozone depletion. Electricity is the largest cost component in the production of atmospheric gases, and natural gas is the principal raw material for hydrogen, carbon monoxide, and syngas production. We mitigate energy and natural gas price changes through long-term cost pass-through type contracts. Tonnage Gases competes against global industrial gas companies, as well as regional competitors. Competition is based primarily on price, reliability of supply, the development of applications that use industrial gases and, in some cases, provision of other services or products such as power and steam generation. We also derive a competitive advantage in regions where we have pipeline networks, which enable us to provide reliable and economic supply of products to customers. | ||||||||||
Electronics and Performance Materials | ||||||||||
The Electronics and Performance Materials segment employs applications technology to provide solutions to a broad range of global industries through expertise in chemical synthesis, analytical technology, process engineering, and surface science. This segment provides specialty and tonnage gases, specialty chemicals, services, and equipment to the electronics industry primarily for the manufacture of silicon and compound semiconductors as well as liquid crystal (LCD) and other displays. The segment also provides performance chemical solutions for the coatings, inks, adhesives, civil engineering, personal care, institutional and industrial cleaning, mining, oil field, polyurethane, and other industries. The Electronics and Performance Materials segment faces competition on a product-by-product basis against competitors ranging from niche suppliers with a single product to large, vertically integrated companies. Competition is principally conducted on the basis of price, quality, product performance, reliability of product supply, technical innovation, service, and global infrastructure. | ||||||||||
Equipment and Energy | ||||||||||
The Equipment and Energy segment designs and manufactures cryogenic and gas processing equipment for air separation, hydrocarbon recovery and purification, natural gas liquefaction (LNG), and helium distribution, and serves energy markets in a variety of ways. Equipment is sold worldwide to customers in a variety of industries, including chemical and petrochemical manufacturing, oil and gas recovery and processing, and steel and primary metals processing. Energy markets are served through our operation and partial ownership of cogeneration and flue gas desulfurization facilities. In addition, we are developing hydrogen as an energy carrier, waste-to-energy facilities to produce electricity, carbon capture technologies for a variety of industrial and power applications, and oxygen-based technologies to serve energy markets in the future. Equipment and Energy competes with a large number of firms for all of its offerings except LNG heat exchangers, for which there are fewer competitors due to the limited market size and proprietary technologies. Competition is based primarily on technological performance, service, technical know-how, price, and performance guarantees. | ||||||||||
Other | ||||||||||
Other operating income (loss) includes other expense and income that cannot be directly associated with the business segments, including foreign exchange gains and losses and costs previously allocated to businesses now reported as discontinued operations. Also included are LIFO inventory adjustments, as the business segments use FIFO and the LIFO pool adjustments are not allocated to the business segments. | ||||||||||
Other assets include cash, deferred tax assets, pension assets, financial instruments, and corporate assets previously allocated to businesses now reported as discontinued operations. | ||||||||||
Customers | ||||||||||
We do not have a homogeneous customer base or end market, and no single customer accounts for more than 10% of our consolidated revenues. | ||||||||||
Accounting Policies | ||||||||||
The accounting policies of the segments are the same as those described in Note 1, Major Accounting Policies. We evaluate the performance of segments based upon reported segment operating income. Operating income of the business segments includes general corporate expenses. Intersegment sales are not material and are recorded at selling prices that approximate market prices. Equipment manufactured for our industrial gas business is generally transferred at cost and not reflected as an intersegment sale. | ||||||||||
Business Segment | ||||||||||
Sales to External Customers | 2013 | 2012 | 2011 | |||||||
Merchant Gases | $ | 4,098.60 | $ | 3,662.40 | $ | 3,664.90 | ||||
Tonnage Gases | 3,387.30 | 3,206.70 | 3,316.70 | |||||||
Electronics and Performance Materials | 2,243.40 | 2,322.50 | 2,291.50 | |||||||
Equipment and Energy | 451.1 | 420.1 | 400.6 | |||||||
Segment and Consolidated Totals | $ | 10,180.40 | $ | 9,611.70 | $ | 9,673.70 | ||||
Operating Income | 2013 | 2012 | 2011 | |||||||
Merchant Gases | $ | 680.5 | $ | 644 | $ | 668.9 | ||||
Tonnage Gases | 515.9 | 512 | 503.1 | |||||||
Electronics and Performance Materials (A) | 321.3 | 425.6 | 361.1 | |||||||
Equipment and Energy | 65.5 | 44.6 | 62.8 | |||||||
Segment total | $ | 1,583.20 | $ | 1,626.20 | $ | 1,595.90 | ||||
Business restructuring and cost reduction plans (B) | -231.6 | -327.4 | - | |||||||
Gain on previously held equity interest | ||||||||||
Net loss on Airgas transaction | - | - | -48.5 | |||||||
Customer bankruptcy | - | -9.8 | - | |||||||
Pension settlement loss | -12.4 | - | - | |||||||
Advisory costs | -10.1 | - | - | |||||||
Other (C) | -4.7 | -6.6 | -39.3 | |||||||
Consolidated Total | $ | 1,324.40 | $ | 1,282.40 | $ | 1,508.10 | ||||
(A) Includes the gain on remeasuring our previously held equity interest in DA NanoMaterials. For additional information, see Note 5, Business Combinations. | ||||||||||
(B) Information about how the charges related to the businesses at the segment level is discussed in Note 4, Business Restructuring and Cost Reduction Plans. | ||||||||||
(C) Includes stranded costs resulting from discontinued operations. | ||||||||||
Business Segment | ||||||||||
Depreciation and Amortization | 2013 | 2012 | 2011 | |||||||
Merchant Gases | $ | 409.5 | $ | 363.2 | $ | 356.9 | ||||
Tonnage Gases | 314.8 | 320.4 | 310.9 | |||||||
Electronics and Performance Materials | 173.4 | 144.1 | 154.9 | |||||||
Equipment and Energy | 8.3 | 12.2 | 11 | |||||||
Segment total | $ | 906 | $ | 839.9 | $ | 833.7 | ||||
Other | 1 | 0.9 | 0.6 | |||||||
Consolidated Total | $ | 907 | $ | 840.8 | $ | 834.3 | ||||
Equity Affiliates’ Income | 2013 | 2012 | 2011 | |||||||
Merchant Gases | $ | 145 | $ | 137.1 | $ | 134.6 | ||||
Other segments | 22.8 | 16.7 | 19.7 | |||||||
Segment and Consolidated Totals | $ | 167.8 | $ | 153.8 | $ | 154.3 | ||||
Total Assets | 2013 | 2012 | 2011 | |||||||
Merchant Gases | $ | 7,742.20 | $ | 7,411.90 | $ | 5,380.00 | ||||
Tonnage Gases | 5,528.20 | 5,192.20 | 4,581.80 | |||||||
Electronics and Performance Materials | 2,891.50 | 2,969.60 | 2,560.70 | |||||||
Equipment and Energy | 695.1 | 399.9 | 357.5 | |||||||
Segment total | $ | 16,857.00 | $ | 15,973.60 | $ | 12,880.00 | ||||
Other | 990.6 | 925.4 | 878.6 | |||||||
Discontinued Operations | 2.5 | 42.8 | 532.1 | |||||||
Consolidated Total | $ | 17,850.10 | $ | 16,941.80 | $ | 14,290.70 | ||||
Investment in Net Assets of and Advances to Equity Affiliates | 2013 | 2012 | 2011 | |||||||
Merchant Gases | $ | 1,012.30 | $ | 983.4 | $ | 800.4 | ||||
Other segments | 183.2 | 192.3 | 211.2 | |||||||
Segment and Consolidated Totals | $ | 1,195.50 | $ | 1,175.70 | $ | 1,011.60 | ||||
Identifiable Assets | 2013 | 2012 | 2011 | |||||||
Merchant Gases | $ | 6,729.90 | $ | 6,428.50 | $ | 4,579.60 | ||||
Tonnage Gases | 5,397.00 | 5,059.80 | 4,464.30 | |||||||
Electronics and Performance Materials | 2,859.40 | 2,930.30 | 2,488.90 | |||||||
Equipment and Energy | 675.2 | 379.3 | 335.6 | |||||||
Segment total | $ | 15,661.50 | $ | 14,797.90 | $ | 11,868.40 | ||||
Other | 990.6 | 925.4 | 878.6 | |||||||
Discontinued Operations | 2.5 | 42.8 | 532.1 | |||||||
Consolidated Total | $ | 16,654.60 | $ | 15,766.10 | $ | 13,279.10 | ||||
Expenditures for Long-Lived Assets (A) | 2013 | 2012 | 2011 | |||||||
Merchant Gases | $ | 558.7 | $ | 523.6 | $ | 390.5 | ||||
Tonnage Gases | 448 | 630.7 | 669.9 | |||||||
Electronics and Performance Materials | 226.8 | 280.8 | 196 | |||||||
Equipment and Energy | 290.7 | 85.9 | 45.9 | |||||||
Segment total | $ | 1,524.20 | $ | 1,521.00 | $ | 1,302.30 | ||||
Other | - | - | 7 | |||||||
Consolidated Total | $ | 1,524.20 | $ | 1,521.00 | $ | 1,309.30 | ||||
(A) Includes plant and equipment. | ||||||||||
Geographic Information | ||||||||||
Sales to External Customers | 2013 | 2012 | 2011 | |||||||
United States | $ | 4,258.40 | $ | 4,114.50 | $ | 4,252.50 | ||||
Canada | 275.5 | 267.6 | 297 | |||||||
Europe | 2,602.10 | 2,588.50 | 2,773.80 | |||||||
Asia, excluding China | 1,320.10 | 1,349.90 | 1,307.90 | |||||||
China | 1,008.30 | 954.1 | 814.2 | |||||||
Latin America | 716 | 337.1 | 228.3 | |||||||
$ | 10,180.40 | $ | 9,611.70 | $ | 9,673.70 | |||||
Long-Lived Assets (A) | 2013 | 2012 | 2011 | |||||||
United States | $ | 3,632.10 | $ | 3,534.40 | $ | 3,099.20 | ||||
Canada | 522.3 | 571.3 | 566.1 | |||||||
Europe | 2,068.80 | 1,760.10 | 1,650.00 | |||||||
Asia, excluding China | 962.3 | 948.1 | 954.2 | |||||||
China | 1,281.70 | 918.5 | 832 | |||||||
Latin America | 506.8 | 508.2 | 121.2 | |||||||
$ | 8,974.00 | $ | 8,240.60 | $ | 7,222.70 | |||||
(A) Long-lived assets include plant and equipment, net. | ||||||||||
Geographic information is based on country of origin. Included in United States revenues are export sales to third-party customers of $410.3 in 2013, $521.1 in 2012, and $537.3 in 2011. The Europe region operates principally in France, Germany, the Netherlands, Poland, Spain, and the U.K. The Asia region operates principally in China, Singapore, South Korea, and Taiwan. The Latin America region operates principally in Brazil and Chile. |
Major_Accounting_Policies_Poli
Major Accounting Policies (Policies) | 12 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Consolidation Principles | ' |
Basis of Presentation and Consolidation Principles | |
The accompanying consolidated financial statements of Air Products and Chemicals, Inc. were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and include the accounts of Air Products and Chemicals, Inc. and those of its controlled subsidiaries (“we,” “our,” “us,” the “Company,” “Air Products,” or “registrant”), which are generally majority owned. Intercompany transactions and balances are eliminated in consolidation. | |
We consolidate all entities that we control. The general condition for control is ownership of a majority of the voting interests of an entity. Control may also exist in arrangements where we are the primary beneficiary of a variable interest entity (VIE). An entity that will have both the power to direct the activities that most significantly impact the economic performance of the VIE and the obligation to absorb the losses or receive the benefits significant to the VIE is considered a primary beneficiary of that entity. We have determined that we are not a primary beneficiary in any material VIE. | |
Certain prior year information has been reclassified to conform to the 2013 presentation. | |
Estimates and Assumptions | ' |
Estimates and Assumptions | |
The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. | |
Revenue Recognition | ' |
Revenue Recognition | |
Revenue from product sales is recognized as risk and title to the product transfer to the customer (which generally occurs at the time shipment is made), the sales price is fixed or determinable, and collectability is reasonably assured. Sales returns and allowances are not a business practice in the industry. | |
Revenue from equipment sale contracts is recorded primarily using the percentage-of-completion method. Under this method, revenue from the sale of major equipment, such as liquefied natural gas (LNG) heat exchangers and large air separation units, is recognized primarily based on labor hours incurred to date compared with total estimated labor hours. Changes to total estimated labor hours and anticipated losses, if any, are recognized in the period determined. | |
Certain contracts associated with facilities that are built to provide product to a specific customer are required to be accounted for as leases. In cases where operating lease treatment is necessary, there is no difference in revenue recognition over the life of the contract as compared to accounting for the contract as product sales. In cases where capital lease treatment is necessary, the timing of revenue and expense recognition is impacted. Revenue and expense are recognized up front for the sale of equipment component of the contract as compared to revenue recognition over the life of the arrangement under contracts not qualifying as capital leases. Additionally, a portion of the revenue representing interest income from the financing component of the lease receivable is reflected as sales over the life of the contract. Allowances for credit losses associated with capital lease receivables are recorded using the specific identification method. As of 30 September 2013, the credit quality of capital lease receivables did not require a material allowance for credit losses. | |
If an arrangement involves multiple deliverables, the delivered items are considered separate units of accounting if the items have value on a stand-alone basis. Revenues are allocated to each deliverable based upon relative selling prices derived from company specific evidence. | |
Amounts billed for shipping and handling fees are classified as sales in the consolidated income statements. | |
Amounts billed for sales and use taxes, value-added taxes, and certain excise and other specific transactional taxes imposed on revenue-producing transactions are presented on a net basis and excluded from sales in the consolidated income statements. We record a liability until remitted to the respective taxing authority. | |
Cost of Sales | ' |
Cost of Sales | |
Cost of sales predominantly represents the cost of tangible products sold. These costs include labor, raw materials, plant engineering, power, depreciation, production supplies and materials packaging costs, and maintenance costs. Costs incurred for shipping and handling are also included in cost of sales. | |
Depreciation | ' |
Depreciation | |
Depreciation is recorded using the straight-line method, which deducts equal amounts of the cost of each asset from earnings every year over its expected economic useful life. The principal lives for major classes of plant and equipment are summarized in Note 9, Plant and Equipment, net. | |
Selling and Administrative | ' |
Selling and Administrative | |
The principal components of selling and administrative expenses are salaries, advertising, and promotional costs. | |
Postemployment Benefits | ' |
Postemployment Benefits | |
When termination benefits provided to employees as part of a cost reduction plan, such as that discussed in Note 4, Business Restructuring and Cost Reduction Plans, meet the definition of an ongoing benefit arrangement, a liability is recognized for termination benefits when probable and estimable. These criteria are met when management, with the appropriate level of authority, approves and commits to its plan of action for termination; the plan identifies the employees to be terminated and their related benefits; and the plan is to be completed within one year. During periods of operations where terminations are made on an as-needed basis, absent a detailed committed plan, terminations are accounted for on an individual basis and a liability is recognized when probable and estimable. We have severance policies and plans for eligible employees. | |
Fair Value Measurements | ' |
Fair Value Measurements | |
We are required to measure certain assets and liabilities at fair value, either upon initial measurement or for subsequent accounting or reporting. For example, fair value is used in the initial measurement of net assets acquired in a business combination; on a recurring basis in the measurement of derivative financial instruments; and on a nonrecurring basis when long-lived assets are written down to fair value when held for sale or determined to be impaired. Refer to Note 14, Fair Value Measurements, for information on the methods and assumptions used in our fair value measurements | |
Financial Instruments | ' |
Financial Instruments | |
We address certain financial exposures through a controlled program of risk management that includes the use of derivative financial instruments. The types of derivative financial instruments permitted for such risk management programs are specified in policies set by management. Refer to Note 13, Financial Instruments, for further detail on the types and use of derivative instruments that we enter into. | |
Major financial institutions are counterparties to all of these derivative contracts. We have established counterparty credit guidelines and only enter into transactions with financial institutions of investment grade or better. Management believes the risk of incurring losses related to credit risk is remote, and any losses would be immaterial to the consolidated financial results, financial condition, or liquidity. | |
We recognize derivatives on the balance sheet at fair value. On the date the derivative instrument is entered into, we generally designate the derivative as either (1) a hedge of a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability (cash flow hedge), (2) a hedge of a net investment in a foreign operation (net investment hedge), or (3) a hedge of the fair value of a recognized asset or liability or of an unrecognized firm commitment (fair value hedge). | |
The following details the accounting treatment of our cash flow, fair value, net investment, and non-designated hedges: | |
• Changes in the fair value of a derivative that is designated as and meets the cash flow hedge criteria are recorded in Accumulated Other Comprehensive Income (AOCI) to the extent effective and then recognized in earnings when the hedged items affect earnings. | |
• Changes in the fair value of a derivative that is designated as and meets all the required criteria for a fair value hedge, along with the gain or loss on the hedged asset or liability that is attributable to the hedged risk, are recorded in current period earnings. | |
• Changes in the fair value of a derivative, foreign currency debt, and qualifying intercompany loans that are related to an outstanding borrowing from a third party that are designated as and meet all the required criteria for a hedge of a net investment are recorded as translation adjustments in AOCI. | |
• Changes in the fair value of a derivative that is not designated as a hedge are recorded immediately in earnings. | |
We formally document the relationships between hedging instruments and hedged items, as well as our risk management objective and strategy for undertaking various hedge transactions. This process includes relating derivatives that are designated as fair value or cash flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. We also formally assess, at the inception of the hedge and on an ongoing basis, whether derivatives are highly effective in offsetting changes in fair values or cash flows of the hedged item. If it is determined that a derivative is not highly effective as a hedge, or if a derivative ceases to be a highly effective hedge, we will discontinue hedge accounting with respect to that derivative prospectively. | |
Foreign Currency | ' |
Foreign Currency | |
Since we do business in many foreign countries, fluctuations in currency exchange rates affect our financial position and results of operations. | |
In most of our foreign operations, local currency is considered the functional currency. Foreign subsidiaries translate their assets and liabilities into U.S. dollars at current exchange rates in effect at the end of the fiscal period. The gains or losses that result from this process are shown as translation adjustments in AOCI in the equity section of the balance sheet. | |
The revenue and expense accounts of foreign subsidiaries are translated into U.S. dollars at the average exchange rates that prevail during the period. Therefore, the U.S. dollar value of these items on the income statement fluctuates from period to period, depending on the value of the dollar against foreign currencies. Some transactions are made in currencies different from an entity's functional currency. Gains and losses from these foreign currency transactions are generally included in other income (expense), net on our consolidated income statements as they occur. | |
Environmental Expenditures | ' |
Environmental Expenditures | |
Accruals for environmental loss contingencies are recorded when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. Remediation costs are capitalized if the costs improve the Company's property as compared with the condition of the property when originally constructed or acquired, or if the costs prevent environmental contamination from future operations. We expense environmental costs related to existing conditions resulting from past or current operations and from which no current or future benefit is discernible. The amounts charged to income from continuing operations related to environmental matters totaled $37.1 in fiscal 2013, $44.7 in 2012, and $34.0 in 2011. | |
The measurement of environmental liabilities is based on an evaluation of currently available information with respect to each individual site and considers factors such as existing technology, presently enacted laws and regulations, and prior experience in remediation of contaminated sites. An environmental liability related to cleanup of a contaminated site might include, for example, a provision for one or more of the following types of costs: site investigation and testing costs, cleanup costs, costs related to soil and water contamination resulting from tank ruptures, post-remediation monitoring costs, and outside legal fees. These liabilities include costs related to other potentially responsible parties to the extent that we have reason to believe such parties will not fully pay their proportionate share. They do not take into account any claims for recoveries from insurance or other parties and are not discounted. | |
As assessments and remediation progress at individual sites, the amount of projected cost is reviewed, and the liability is adjusted to reflect additional technical and legal information that becomes available. Management has an established process in place to identify and monitor the Company's environmental exposures. An environmental accrual analysis is prepared and maintained that lists all environmental loss contingencies, even where an accrual has not been established. This analysis assists in monitoring the Company's overall environmental exposure and serves as a tool to facilitate ongoing communication among the Company's technical experts, environmental managers, environmental lawyers, and financial management to ensure that required accruals are recorded and potential exposures disclosed. | |
Given inherent uncertainties in evaluating environmental exposures, actual costs to be incurred at identified sites in future periods may vary from the estimates. Refer to Note 17, Commitments and Contingencies, for additional information on the Company's environmental loss contingencies. | |
The accruals for environmental liabilities are reflected in the consolidated balance sheets, primarily as part of other noncurrent liabilities. | |
Litigation | ' |
Litigation | |
In the normal course of business, we are involved in legal proceedings. We accrue a liability for such matters when it is probable that a liability has been incurred and the amount can be reasonably estimated. When only a range of possible loss can be established, the most probable amount in the range is accrued. If no amount within this range is a better estimate than any other amount within the range, the minimum amount in the range is accrued. The accrual for a litigation loss contingency includes estimates of potential damages and other directly related costs expected to be incurred. Refer to Note 17, Commitments and Contingencies, for additional information on our current legal proceedings. | |
Share-Based Compensation | ' |
Share-Based Compensation | |
We have various share-based compensation programs, which include stock options, deferred stock units, and restricted stock. We expense the grant-date fair value of these awards over the vesting period during which employees perform related services. Expense recognition is accelerated for retirement-eligible individuals who would meet the requirements for vesting of awards upon their retirement. We utilize a Black Scholes model to value stock option awards. Refer to Note 19, Share-Based Compensation, for further detail. | |
Income Taxes | ' |
Income Taxes | |
We account for income taxes under the liability method. Under this method, deferred tax assets and liabilities are recognized for the tax effects of temporary differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates. A principal temporary difference results from the excess of tax depreciation over book depreciation because accelerated methods of depreciation and shorter useful lives are used for income tax purposes. The cumulative impact of a change in tax rates or regulations is included in income tax expense in the period that includes the enactment date. | |
A tax benefit for an uncertain tax position is recognized when it is more likely than not that the position will be sustained upon examination based on its technical merits. This position is measured as the largest amount of tax benefit that is greater than 50% likely of being realized. Interest and penalties related to unrecognized tax benefits are recognized as a component of income tax expense. For additional information regarding our income taxes, refer to Note 22, Income Taxes. | |
Cash and Cash Items | ' |
Cash and Cash Items | |
Cash and cash items include cash, time deposits, and certificates of deposit acquired with an original maturity of three months or less. | |
Trade Receivables,net | 'Trade Receivables, net Trade receivables comprise amounts owed to us through our operating activities and are presented net of allowances for doubtful accounts. The allowances for doubtful accounts represent estimated uncollectible receivables associated with potential customer defaults on contractual obligations. A provision for customer defaults is made on a general formula basis when it is determined that the risk of some default is probable and estimable but cannot yet be associated with specific customers. The assessment of the likelihood of customer defaults is based on various factors, including the length of time the receivables are past due, historical experience, and existing economic conditions. The allowances also include amounts for certain customers where a risk of default has been specifically identified, considering factors such as the financial condition of the customer and customer disputes over contractual terms and conditions. Allowances for doubtful accounts were $101.7 and $103.5 as of fiscal year end 30 September 2013 and 2012, respectively. Provisions to the allowances for doubtful accounts charged against income were $27.6, $36.8 and $23.4 in 2013, 2012, and 2011, respectively. |
Inventories | ' |
Inventories | |
Inventories are stated at the lower of cost or market. We write down our inventories for estimated obsolescence or unmarketable inventory based upon assumptions about future demand and market conditions. | |
We utilize the last-in, first-out (LIFO) method for determining the cost of inventories in the Merchant Gases, Tonnage Gases, and Electronics and Performance Materials segments in the United States. Inventories for these segments outside of the United States are accounted for on the first-in, first-out (FIFO) method, as the LIFO method is not generally permitted in the foreign jurisdictions where these segments operate. The inventories of the Equipment and Energy segment on a worldwide basis, as well as all other inventories, are accounted for on the FIFO basis. | |
At the business segment level, inventories are recorded at FIFO and the LIFO pool adjustments are not allocated to the business segments. Refer to Note 7, Inventories, for further detail. | |
Equity Investments | ' |
Equity Investments | |
The equity method of accounting is used when we exercise significant influence but do not have operating control, generally assumed to be 20% –50% ownership. Under the equity method, original investments are recorded at cost and adjusted by our share of undistributed earnings or losses of these companies. Equity investments are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment may not be recoverable. Refer to Note 8, Summarized Financial Information of Equity Affiliates, for further detail. | |
Plant and Equipment | ' |
Plant and Equipment | |
Plant and equipment is stated at cost less accumulated depreciation. Construction costs, labor, and applicable overhead related to installations are capitalized. Expenditures for additions and improvements that extend the lives or increase the capacity of plant assets are capitalized. The costs of maintenance and repairs of plant and equipment are charged to expense as incurred. | |
Fully depreciated assets are retained in the gross plant and equipment and accumulated depreciation accounts until they are removed from service. In the case of disposals, assets and related depreciation are removed from the accounts, and the net amounts, less proceeds from disposal, are included in income. Refer to Note 9, Plant and Equipment, net, for further detail. | |
Computer Software | ' |
Computer Software | |
We capitalize costs incurred to purchase or develop software for internal use. Capitalized costs include purchased computer software packages, payments to vendors/consultants for development and implementation or modification to a purchased package to meet our requirements, payroll and related costs for employees directly involved in development, and interest incurred while software is being developed. Capitalized computer software costs are included in the balance sheet classification plant and equipment, net and depreciated over the estimated useful life of the software, generally a period of three to ten years. | |
Capitalized Interest | ' |
Capitalized Interest | |
As we build new plant and equipment, we include in the cost of these assets a portion of the interest payments we make during the year. The amount of capitalized interest was $25.8, $30.2, and $22.7 in 2013, 2012, and 2011, respectively. | |
Impairment of Long-Lived Assets | ' |
Impairment of Long-Lived Assets | |
Long-lived assets are grouped for impairment testing at the lowest level for which there are identifiable cash flows and is evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. We assess recoverability by comparing the carrying amount of the asset group to estimated undiscounted future cash flows expected to be generated by the asset group. If an asset group is considered impaired, the impairment loss to be recognized is measured as the amount by which the asset group's carrying amount exceeds its fair value. Long-lived assets to be sold are reported at the lower of carrying amount or fair value less cost to sell. | |
Government Grants | ' |
Government Grants | |
We receive government grants that primarily relate to research and development projects. Government grants are recognized when there is reasonable assurance that the grant will be received and that we have complied with the conditions of the grant. Government grants related to assets are included in the balance sheet as a reduction of the cost of the asset and result in reduced depreciation expense over the useful life of the asset. Government grants that relate to expenses are recognized in the income statement as a reduction of the related expense or as a component of other income (expense), net. | |
Asset Retirement Obligations | ' |
Asset Retirement Obligations | |
The fair value of a liability for an asset retirement obligation is recognized in the period in which it is incurred. The fair value of the liability is measured using discounted estimated cash flows and is adjusted to its present value in subsequent periods as accretion expense is recorded. The corresponding asset retirement costs are capitalized as part of the carrying amount of the related long-lived asset and depreciated over the asset's useful life. The Company's asset retirement obligations are primarily associated with Tonnage Gases on-site long-term supply contracts, under which the Company has built a facility on land owned by the customer and is obligated to remove the facility at the end of the contract term. The Company's asset retirement obligations totaled $89.8 and $76.7 at 30 September 2013 and 2012, respectively. | |
Goodwill | ' |
Goodwill | |
Business combinations are accounted for using the acquisition method. The purchase price is allocated to the assets acquired and liabilities assumed based on their estimated fair market values. Any excess purchase price over the fair market value of the net assets acquired, including identified intangibles, is recorded as goodwill. Preliminary purchase price allocations are made at the date of acquisition and finalized when information needed to affirm underlying estimates is obtained, within a maximum allocation period of one year. | |
Goodwill is subject to impairment testing at least annually. In addition, goodwill is tested more frequently if a change in circumstances or the occurrence of events indicates that potential impairment exists. Refer to Note 10, Goodwill, for further detail. | |
Intangible Assets | ' |
Intangible Assets | |
Intangible assets with determinable lives primarily consist of customer relationships, purchased patents and technology, and land use rights. The cost of intangible assets with determinable lives is amortized on a straight-line basis over the estimated period of economic benefit. No residual value is estimated for these intangible assets. Indefinite-lived intangible assets consist of trade names and trademarks. Indefinite-lived intangibles are subject to impairment testing at least annually. In addition, intangible assets are tested more frequently if a change in circumstances or the occurrence of events indicates that potential impairment exists. | |
Customer relationships are generally amortized over periods of five to twenty-five years. Purchased patents and technology and other are generally amortized over periods of five to twenty years. Land use rights, which are included in other intangibles, are generally amortized over a period of fifty years. Amortizable lives are adjusted whenever there is a change in the estimated period of economic benefit. Refer to Note 11, Intangible Assets, for further detail. | |
Pension Benefits | ' |
Retirement Benefits | |
The cost of pension benefits is recognized over the employees' service period. We are required to use actuarial methods and assumptions in the valuation of defined benefit obligations and the determination of expense. Differences between actual and expected results or changes in the value of obligations and plan assets are not recognized in earnings as they occur but, rather, systematically and gradually over subsequent periods. Refer to Note 16, Retirement Benefits, for disclosures related to our pension and other postretirement benefits. |
Discontinued_Operations_Tables
Discontinued Operations (Tables) | 12 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Discontinued Operations [Abstract] | ' | ||||||||
Schedule of Operating Results and Assets and Liabilities of Discontinued Operations | ' | ||||||||
The results of discontinued operations are summarized below: | |||||||||
2013 | 2012 | 2011 | |||||||
Sales | $ | 52.3 | $ | 258 | $ | 408.3 | |||
Income before taxes | $ | 3.8 | $ | 68.1 | $ | 114.1 | |||
Income tax provision | 0.2 | 20.8 | 24.2 | ||||||
Income from operations of discontinued operations | 3.6 | 47.3 | 89.9 | ||||||
Gain (Loss) on sale of business and impairment/write-down, net of tax | -13.6 | 120.8 | 0 | ||||||
Income (Loss) from Discontinued Operations, net of tax | $ | -10 | $ | 168.1 | $ | 89.9 | |||
Assets and liabilities of discontinued operations consist of the following: | |||||||||
30-Sep | 2013 | 2012 | |||||||
Trade receivables, net | $ | 2.5 | $ | 15 | |||||
Inventories | - | 0.5 | |||||||
Other current assets | - | 0.1 | |||||||
Total Current Assets | $ | 2.5 | $ | 15.6 | |||||
Plant and equipment, net | $ | - | $ | 27.2 | |||||
Total Noncurrent Assets | $ | - | $ | 27.2 | |||||
Payables and accrued liabilities | $ | 2.4 | $ | 6 | |||||
Total Current Liabilities | $ | 2.4 | $ | 6 | |||||
Other noncurrent liabilities | $ | - | $ | 0.2 | |||||
Total Noncurrent Liabilities | $ | - | $ | 0.2 |
Business_Restructuring_and_Cos1
Business Restructuring and Cost Reduction Plans (Tables) | 12 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Business Restructuring and Cost Reduction Plans [Abstract] | ' | |||||||||||||||
Summary of Carrying Amount of Accrual for Business Restructuring and Cost Reduction Plans [Table Text Block] | ' | |||||||||||||||
The following table summarizes the carrying amount of the accrual for the 2013 plan at 30 September 2013: | ||||||||||||||||
Severance and | Asset | Contract | ||||||||||||||
Other Benefits | Actions | Actions/ Other | Total | |||||||||||||
2013 Charge | $ | 71.9 | $ | 100.4 | $ | 59.3 | $ | 231.6 | ||||||||
Amount reflected in pension liability | -6.9 | - | - | -6.9 | ||||||||||||
Noncash expenses | - | -100.4 | - | -100.4 | ||||||||||||
Cash expenditures | -3 | - | -58.5 | -61.5 | ||||||||||||
Currency translation adjustment | 0.4 | - | - | 0.4 | ||||||||||||
Accrued balance | $ | 62.4 | $ | - | $ | 0.8 | $ | 63.2 | ||||||||
The following table summarizes the carrying amount of the accrual for the 2012 plans at 30 September 2013: | ||||||||||||||||
Severance and | Asset | Contract | Other | |||||||||||||
Other Benefits | Actions | Actions | Costs | Total | ||||||||||||
Second quarter charge- Cost reduction plan | $ | 80.8 | $ | 6 | $ | - | $ | - | $ | 86.8 | ||||||
Fourth quarter charge- PUI business actions(A) | 2.7 | 26.6 | 6.5 | 18.8 | 54.6 | |||||||||||
Fourth quarter charge- PV market actions(B) | - | 34.7 | 93.5 | 57.8 | 186 | |||||||||||
2012 Charge | $ | 83.5 | $ | 67.3 | $ | 100 | $ | 76.6 | $ | 327.4 | ||||||
Amount reflected in environmental liability(C) | - | - | - | -9 | -9 | |||||||||||
Amount reflected in pension liability | -7.5 | - | - | - | -7.5 | |||||||||||
Noncash expenses | -0.4 | -67.3 | - | -19.3 | -87 | |||||||||||
Cash expenditures | -32.8 | - | - | -0.1 | -32.9 | |||||||||||
Currency translation adjustment | -1.6 | - | - | - | -1.6 | |||||||||||
30-Sep-12 | $ | 41.2 | $ | - | $ | 100 | $ | 48.2 | $ | 189.4 | ||||||
Cash expenditures | -40.4 | - | -98.1 | -47.3 | -185.8 | |||||||||||
Currency translation adjustment | 0.3 | - | - | - | 0.3 | |||||||||||
Accrued Balance | $ | 1.1 | $ | - | $ | 1.9 | $ | 0.9 | $ | 3.9 | ||||||
(A) Charge is net of $32.7 in proceeds received in cash at closing for certain PUI assets and the rights to a supply contract. | ||||||||||||||||
(B) Other includes the write-down of inventory to its net realizable value, the write-down of accounts receivable, and expected losses on purchase | ||||||||||||||||
commitments. | ||||||||||||||||
(C) Reflected in accrual for environmental obligations. See Note 17, Commitments and Contingencies. |
Business_Combinations_Tables
Business Combinations (Tables) | 12 Months Ended | ||||||
Sep. 30, 2013 | |||||||
Business Combinations [Abstract] | ' | ||||||
Schedule of Purchase Price Allocation [Table Text Block] | ' | ||||||
Allocation of Purchase Price | |||||||
Trade receivables, net | $ | 131.2 | |||||
Inventories | 103.5 | ||||||
Other current assets and (liabilities)(A) | -67.5 | ||||||
Plant and equipment | 397.2 | ||||||
Intangible assets | 382.1 | ||||||
Current portion of long-term debt and short-term borrowings | -70.8 | ||||||
Long-term debt | -279.8 | ||||||
Deferred income taxes | -131.3 | ||||||
Other noncurrent assets and (liabilities) | -12.3 | ||||||
Fair Value of Identifiable Net Assets Acquired | $ | 452.3 | |||||
Goodwill | 626.2 | ||||||
Noncontrolling interests (including redeemable noncontrolling interest) | -388.9 | ||||||
Total | $ | 689.6 | |||||
(A) Includes cash and cash items, prepaid expenses, other current assets, payables and accrued liabilities, and other current | |||||||
liabilities. | |||||||
Business Acquisition, Pro Forma Information [Table Text Block] | ' | ||||||
Pro forma | |||||||
Year Ended 30 September | 2012 | 2011 | |||||
Sales | $ | 9,952.30 | $ | 10,144.20 | |||
Net income | 1,039.00 | 1,181.90 | |||||
Net income attributable to Air Products | 1,008.60 | 1,137.50 | |||||
Basic Earnings per Common Share attributable to Air Products | 4.78 | 5.34 | |||||
Diluted Earnings per Common Share attributable to Air Products | 4.7 | 5.23 |
Inventories_Tables
Inventories (Tables) | 12 Months Ended | |||||
Sep. 30, 2013 | ||||||
Inventories [Abstract] | ' | |||||
Schedule of Inventory | ' | |||||
30-Sep | 2013 | 2012 | ||||
Inventories at FIFO cost | ||||||
Finished goods | $ | 527.3 | $ | 617.9 | ||
Work in process | 38.7 | 36.7 | ||||
Raw materials, supplies and other | 234.9 | 220 | ||||
800.9 | 874.6 | |||||
Less: Excess of FIFO cost over LIFO cost | -94.8 | -88 | ||||
$ | 706.1 | $ | 786.6 |
Summarized_Financial_Informati1
Summarized Financial Information of Equity Affiliates (Tables) | 12 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Equity Method Investments and Joint Ventures [Abstract] | ' | ||||||||
Equity Method Investments [Table Text Block] | ' | ||||||||
Abdullah Hashim Industrial Gases & Equipment Co., Ltd. (25%); | INOX Air Products Limited (50%); | ||||||||
Air Products South Africa (Proprietary) Limited (50%); | Kulim Industrial Gases Sdn. Bhd. (50%); | ||||||||
Bangkok Cogeneration Company Limited (49%); | Sapio Produzione Idrogeno Ossigeno S.r.l. (49%); | ||||||||
Bangkok Industrial Gases Co., Ltd. (49%); | SembCorp Air Products (HyCo) Pte. Ltd. (40%); | ||||||||
Chengdu Air & Gas Products Ltd. (50%); | Tecnologia en Nitrogeno S. de R.L. de C.V. (50%); | ||||||||
Daido Air Products Electronics, Inc. (20%); | Tyczka Industrie-Gases GmbH (50%); | ||||||||
Helap S.A. (50%); | WuXi Hi-Tech Gas Co., Ltd. (50%); | ||||||||
High-Tech Gases (Beijing) Co., Ltd. (50%); | and principally, other industrial gas producers. | ||||||||
INFRA Group (40%); | |||||||||
Table Of Summarized Financial Information Of Equity Affiliates [Table Text Block] | ' | ||||||||
30-Sep | 2013 | 2012 | |||||||
Current assets | $ | 1,307.90 | $ | 1,232.90 | |||||
Noncurrent assets | 2,396.10 | 2,225.30 | |||||||
Current liabilities | 795.2 | 726.6 | |||||||
Noncurrent liabilities | 648.6 | 523.9 | |||||||
Year Ended 30 September | 2013 | 2012 | 2011 | ||||||
Net sales | $ | 2,845.90 | $ | 2,675.30 | $ | 2,650.50 | |||
Sales less cost of sales | 1,003.30 | 937 | 987.2 | ||||||
Operating income | 547.3 | 529.7 | 537 | ||||||
Net income | 360.5 | 347.6 | 351.3 |
Plant_and_Equipment_net_Tables
Plant and Equipment, net (Tables) | 12 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment [Table Text Block] | ' | ||||||||
Useful Life | |||||||||
30-Sep | in years | 2013 | 2012 | ||||||
Land | $ | 240.5 | $ | 215.8 | |||||
Buildings | 30 | 1,076.30 | 1,032.80 | ||||||
Production facilities (A) | |||||||||
Merchant Gases | 15 | 4,109.10 | 3,552.90 | ||||||
Tonnage Gases | 15 to 20 | 6,769.30 | 6,583.70 | ||||||
Electronics and Performance Materials | 10 to 15 | 2,193.90 | 2,022.60 | ||||||
Equipment and Energy | 5 to 20 | 172.4 | 173.9 | ||||||
Total production facilities | 13,244.70 | 12,333.10 | |||||||
Distribution equipment(B) | 5 to 25 | 3,280.60 | 3,133.70 | ||||||
Other machinery and equipment | 10 to 25 | 393.8 | 310.7 | ||||||
Construction in progress | 1,294.00 | 1,020.10 | |||||||
Plant and equipment, at cost | 19,529.90 | 18,046.20 | |||||||
Less: accumulated depreciation | 10,555.90 | 9,805.60 | |||||||
Plant and equipment, net | $ | 8,974.00 | $ | 8,240.60 | |||||
(A) | Depreciable lives of production facilities related to long-term customer supply contracts are matched to the contract lives. | ||||||||
(B) | The depreciable lives for various types of distribution equipment are 10 to 25 years for cylinders, depending on the nature and properties of the | ||||||||
product; 20 years for tanks; 7.5 years for customer stations; and 5 to 15 years for tractors and trailers. |
Goodwill_Tables
Goodwill (Tables) | 12 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||
Schedule of Goodwill [Table Text Block] | ' | |||||||||||
Electronics and | ||||||||||||
Merchant | Tonnage | Performance | ||||||||||
Gases | Gases | Materials | Total | |||||||||
Balance at 30 September 2011 | $ | 479.2 | $ | 14.1 | $ | 302.9 | $ | 796.2 | ||||
Acquisitions and adjustments | 630 | - | 135.4 | 765.4 | ||||||||
Currency translation and other | 29.4 | 0.6 | 6.8 | 36.8 | ||||||||
Balance at 30 September 2012 | $ | 1,138.60 | $ | 14.7 | $ | 445.1 | $ | 1,598.40 | ||||
Acquisitions and adjustments | 73.3 | - | 2 | 75.3 | ||||||||
Currency translation and other | -19.9 | 0.5 | -0.5 | -19.9 | ||||||||
Balance at 30 September 2013 | $ | 1,192.00 | $ | 15.2 | $ | 446.6 | $ | 1,653.80 | ||||
Intangibles_Tables
Intangibles (Tables) | 12 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||
Schedule Finite and Indefinite Lived Intangible Assets [Table Text Block] | ' | ||||||||||||||||||||
30-Sep-13 | 30-Sep-12 | ||||||||||||||||||||
Accumulated | Accumulated | ||||||||||||||||||||
Gross | Amortization | Net | Gross | Amortization | Net | ||||||||||||||||
Customer relationships | $ | 629.2 | $ | -97.3 | $ | 531.9 | $ | 665.3 | $ | -93.1 | $ | 572.2 | |||||||||
Patents and technology | 91.3 | -52.1 | 39.2 | 129.8 | -82 | 47.8 | |||||||||||||||
Other | 91.5 | -35.9 | 55.6 | 82.3 | -38.4 | 43.9 | |||||||||||||||
Trade names and trademarks | 90.6 | - | 90.6 | 97.7 | - | 97.7 | |||||||||||||||
$ | 902.6 | $ | -185.3 | $ | 717.3 | $ | 975.1 | $ | -213.5 | $ | 761.6 | ||||||||||
Refer to Note 1, Major Accounting Policies, for amortization periods associated with our intangible assets. | |||||||||||||||||||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | ' | ||||||||||||||||||||
Projected annual amortization expense for intangible assets as of 30 September 2013 is as follows: | |||||||||||||||||||||
2014 | $ | 41.9 | |||||||||||||||||||
2015 | 40.1 | ||||||||||||||||||||
2016 | 38 | ||||||||||||||||||||
2017 | 36.6 | ||||||||||||||||||||
2018 | 34.8 | ||||||||||||||||||||
Thereafter | 435.3 | ||||||||||||||||||||
$ | 626.7 |
Leases_Tables
Leases (Tables) | 12 Months Ended | |||||
Sep. 30, 2013 | ||||||
Leases [Abstract] | ' | |||||
Schedule of Minimum Payments Due Under Capital and Operating Leases [Table Text Block] | ' | |||||
Capital | Operating | |||||
Leases | Leases | |||||
2014 | $ | 0.5 | $ | 68.6 | ||
2015 | 0.5 | 49.9 | ||||
2016 | 0.3 | 36.5 | ||||
2017 | 0.3 | 24.7 | ||||
2018 | 0.2 | 19.7 | ||||
Thereafter | 0 | 86.1 | ||||
Total | $ | 1.8 | $ | 285.5 | ||
Schedule of Lease Receivable Sales Type [Table Text Block] | ' | |||||
30-Sep | 2013 | 2012 | ||||
Gross minimum lease payments receivable | $ | 2,253.20 | $ | 2,134.60 | ||
Unearned interest income | -709.1 | -743.7 | ||||
Lease Receivables, net | $ | 1,544.10 | $ | 1,390.90 | ||
Schedule of Minimum Lease Payments to be Collected [Table Text Block] | ' | |||||
2014 | $ | 136.1 | ||||
2015 | 172.6 | |||||
2016 | 180 | |||||
2017 | 178.6 | |||||
2018 | 177.3 | |||||
Thereafter | 1,408.60 | |||||
Total | $ | 2,253.20 |
Financial_Instruments_Tables
Financial Instruments (Tables) | 12 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||
Financial Instruments [Abstract] | ' | ||||||||||||||||||||||||||
Schedule of Outstanding Currency Price Risk Management Instruments | ' | ||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||
Years | Years | ||||||||||||||||||||||||||
US$ | Average | US$ | Average | ||||||||||||||||||||||||
30-Sep | Notional | Maturity | Notional | Maturity | |||||||||||||||||||||||
Forward exchange contracts | |||||||||||||||||||||||||||
Cash flow hedges | $ | 2,653.40 | 0.6 | $ | 1,348.80 | 0.6 | |||||||||||||||||||||
Net investment hedges | 1,231.80 | 2.4 | 779.2 | 2.5 | |||||||||||||||||||||||
Not designated | 751.9 | 0.1 | 477.7 | 0.1 | |||||||||||||||||||||||
Total Forward Exchange Contracts | $ | 4,637.10 | 1 | $ | 2,605.70 | 1 | |||||||||||||||||||||
Schedule of Interest Rate Swaps and Cross Currency Interest Rate Swaps | ' | ||||||||||||||||||||||||||
The following table summarizes our outstanding interest rate management contracts and cross currency interest rate swaps: | |||||||||||||||||||||||||||
30-Sep-13 | 30-Sep-12 | ||||||||||||||||||||||||||
Average | Years | Average | Years | ||||||||||||||||||||||||
US$ | Receive | Average | US$ | Receive | Average | ||||||||||||||||||||||
Notional | Pay % | % | Maturity | Notional | Pay % | % | Maturity | ||||||||||||||||||||
Interest rate swaps (fair value hedge) | $ | 300 | LIBOR | 3.61% | 5.9 | $ | 450 | LIBOR | 3.23% | 4.7 | |||||||||||||||||
Cross currency interest rate swaps | |||||||||||||||||||||||||||
(net investment hedge) | $ | 310.8 | 3.87% | 0.72% | 2.4 | $ | 243.5 | 3.95% | 0.96% | 3.2 | |||||||||||||||||
Interest rate swaps (cash flow hedge) | $ | 52.8 | 6.84% | 5.64% | 1.4 | $ | 452.8 | 2.75% | Various | 0.6 | |||||||||||||||||
Cross currency interest rate swaps | |||||||||||||||||||||||||||
(cash flow hedge) | $ | 169.3 | 3.48% | 2.53% | 4.8 | - | - | - | - | ||||||||||||||||||
Fair Value of Derivative Instruments | ' | ||||||||||||||||||||||||||
The table below summarizes the fair value and balance sheet location of our outstanding derivatives: | |||||||||||||||||||||||||||
Balance Sheet | 30-Sep | Balance Sheet | 30-Sep | ||||||||||||||||||||||||
Location | 2013 | 2012 | Location | 2013 | 2012 | ||||||||||||||||||||||
Derivatives Designated as | |||||||||||||||||||||||||||
Hedging Instruments: | |||||||||||||||||||||||||||
Forward exchange contracts | Other receivables | $ | 52.2 | $ | 12.7 | Accrued liabilities | $ | 22.5 | $ | 17 | |||||||||||||||||
Interest rate management contracts | Other receivables | - | 1.1 | Accrued liabilities | 3.5 | 15.6 | |||||||||||||||||||||
Other noncurrent | Other noncurrent | ||||||||||||||||||||||||||
Forward exchange contracts | assets | 28.7 | 64.3 | liabilities | 7.7 | 2.5 | |||||||||||||||||||||
Other noncurrent | Other noncurrent | ||||||||||||||||||||||||||
Interest rate management contracts | assets | 35.4 | 48.6 | liabilities | 6.1 | 9.5 | |||||||||||||||||||||
Total Derivatives Designated as | |||||||||||||||||||||||||||
Hedging Instruments | $ | 116.3 | $ | 126.7 | $ | 39.8 | $ | 44.6 | |||||||||||||||||||
Derivatives Not Designated as | |||||||||||||||||||||||||||
Hedging Instruments: | |||||||||||||||||||||||||||
Forward exchange contracts | Other receivables | $ | 9.6 | $ | 0.9 | Accrued liabilities | $ | 1.5 | $ | 2.2 | |||||||||||||||||
Total Derivatives | $ | 125.9 | $ | 127.6 | $ | 41.3 | $ | 46.8 | |||||||||||||||||||
Schedule of Gain/Loss Related to Derivative Instruments | ' | ||||||||||||||||||||||||||
Year Ended 30 September | |||||||||||||||||||||||||||
Forward | Foreign Currency | ||||||||||||||||||||||||||
Exchange Contracts | Debt | Other (A) | Total | ||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||
Cash Flow Hedges, net of tax: | |||||||||||||||||||||||||||
Net gain (loss) recognized in OCI | |||||||||||||||||||||||||||
(effective portion) | $ | 24.6 | $ | -14.2 | $ | - | $ | - | $ | 10.4 | $ | -7.6 | $ | 35 | $ | -21.8 | |||||||||||
Net (gain) loss reclassified from OCI | |||||||||||||||||||||||||||
to sales/cost of sales (effective portion) | 1 | 1.3 | - | - | - | - | 1 | 1.3 | |||||||||||||||||||
Net (gain) loss reclassified from OCI to other | |||||||||||||||||||||||||||
income, net (effective portion) | -23.9 | 9.6 | - | - | 2.4 | - | -21.5 | 9.6 | |||||||||||||||||||
Net (gain)loss reclassified from OCI | |||||||||||||||||||||||||||
to interest expense (effective portion) | -0.4 | -0.2 | - | - | 0.7 | 1.4 | 0.3 | 1.2 | |||||||||||||||||||
Net (gain) loss reclassified from OCI to other | |||||||||||||||||||||||||||
income, net (ineffective portion) | - | 0.3 | - | - | - | - | - | 0.3 | |||||||||||||||||||
Fair Value Hedges: | |||||||||||||||||||||||||||
Net gain (loss) recognized in interest expense(B) | $ | - | $ | - | $ | - | $ | - | $ | -19.8 | $ | 5.8 | $ | -19.8 | $ | 5.8 | |||||||||||
Net Investment Hedges, net of tax: | |||||||||||||||||||||||||||
Net gain (loss) recognized in OCI | $ | -15.3 | $ | 25 | $ | -37.7 | $ | 11.4 | $ | 1.8 | $ | -2.1 | $ | -51.2 | $ | 34.3 | |||||||||||
Derivatives Not Designated as Hedging Instruments: | |||||||||||||||||||||||||||
Net gain (loss) recognized in other income, net(C) | $ | 5.3 | $ | -2.4 | $ | - | $ | - | $ | - | $ | - | $ | 5.3 | $ | -2.4 |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||
Fair Value Measurements [Abstract] | ' | |||||||||||||||||||||||||||
Schedule of Carrying Value and Fair Values of Financial Instruments | ' | |||||||||||||||||||||||||||
The carrying values and fair values of financial instruments were as follows: | ||||||||||||||||||||||||||||
30-Sep | 2013 | 2012 | ||||||||||||||||||||||||||
Carrying Value | Fair Value | Carrying Value | Fair Value | |||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||
Derivatives | ||||||||||||||||||||||||||||
Forward exchange contracts | $ | 90.5 | $ | 90.5 | $ | 77.9 | $ | 77.9 | ||||||||||||||||||||
Interest rate management contracts | 35.4 | 35.4 | 49.7 | 49.7 | ||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||
Derivatives | ||||||||||||||||||||||||||||
Forward exchange contracts | $ | 31.7 | $ | 31.7 | $ | 21.7 | $ | 21.7 | ||||||||||||||||||||
Interest rate management contracts | 9.6 | 9.6 | 25.1 | 25.1 | ||||||||||||||||||||||||
Long-term debt, including current portion | 5,563.70 | 5,804.10 | 4,658.50 | 5,005.90 | ||||||||||||||||||||||||
Schedule of Fair Value of Assets and Liabilities | ' | |||||||||||||||||||||||||||
The following table summarizes assets and liabilities measured at fair value on a recurring basis in the consolidated balance sheets: | ||||||||||||||||||||||||||||
30-Sep-13 | 30-Sep-12 | |||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||
Assets at Fair Value | ||||||||||||||||||||||||||||
Derivatives | ||||||||||||||||||||||||||||
Forward exchange contracts | $ | 90.5 | $ | - | $ | 90.5 | $ | - | $ | 77.9 | $ | - | $ | 77.9 | $ | - | ||||||||||||
Interest rate management contracts | 35.4 | - | 35.4 | - | 49.7 | - | 49.7 | - | ||||||||||||||||||||
Total Assets at Fair Value | $ | 125.9 | $ | - | $ | 125.9 | $ | - | $ | 127.6 | $ | - | $ | 127.6 | $ | - | ||||||||||||
Liabilities at Fair Value | ||||||||||||||||||||||||||||
Derivatives | ||||||||||||||||||||||||||||
Forward exchange contracts | $ | 31.7 | $ | - | $ | 31.7 | $ | - | $ | 21.7 | $ | - | $ | 21.7 | $ | - | ||||||||||||
Interest rate management contracts | 9.6 | - | 9.6 | - | 25.1 | - | 25.1 | - | ||||||||||||||||||||
Total Liabilities at Fair Value | $ | 41.3 | $ | - | $ | 41.3 | $ | - | $ | 46.8 | $ | - | $ | 46.8 | $ | - | ||||||||||||
Schedule of Non-Recurring Fair Value Measurement of Long-Lived Assets Held For Sale | ' | |||||||||||||||||||||||||||
The following is a tabular presentation of nonrecurring fair value measurements along with the level within the fair value hierarchy in | ||||||||||||||||||||||||||||
which the fair value measurement in its entirety falls: | ||||||||||||||||||||||||||||
30-Sep-13 | 2013 | |||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Loss | ||||||||||||||||||||||||
Long-lived assets—Cost reduction plan (A) | $ | 10.8 | $ | 0 | $ | 0 | $ | 10.8 | $ | 11.9 | ||||||||||||||||||
Long-lived assets—Discontinued operations (B) | 0 | 0 | 0 | 0 | 18.7 | |||||||||||||||||||||||
30-Sep-12 | 2012 | |||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Loss | ||||||||||||||||||||||||
Long-lived assets—Cost reduction plan (A) | $ | 2.2 | $ | 0 | $ | 0 | $ | 2.2 | $ | 6 | ||||||||||||||||||
Long-lived assets—Discontinued operations (B) | 27.2 | 0 | 0 | 27.2 | 33.5 | |||||||||||||||||||||||
(A) In conjunction with the 2013 and 2012 business restructuring and cost reduction plans, long-lived assets held for sale were written down to fair | ||||||||||||||||||||||||||||
value, and the loss was included in the respective charges. For additional information, see Note 4, Business Restructuring and Cost Reduction | ||||||||||||||||||||||||||||
Plans. We quantified the fair value of the assets held for sale using a market approach, based on prices for other market transactions | ||||||||||||||||||||||||||||
involving comparable assets and our assessment of value considering our knowledge of the markets. | ||||||||||||||||||||||||||||
(B) During 2013 and 2012, impairment charges were recorded for the remaining assets of the Homecare business to reflect their estimated net | ||||||||||||||||||||||||||||
realizable value. For additional information, see Note 3, Discontinued Operations. We utilized a market approach to determine the fair value | ||||||||||||||||||||||||||||
based on our current assessment of the markets for these assets. | ||||||||||||||||||||||||||||
Debt_Tables
Debt (Tables) | 12 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Schedule of Debt [Table Text Block] | ' | ||||||||
Total Debt | |||||||||
30-Sep | 2013 | 2012 | |||||||
Short-term borrowings | $ | 709.9 | $ | 633.4 | |||||
Current portion of long-term debt | 507.4 | 74.3 | |||||||
Long-term debt | 5,056.30 | 4,584.20 | |||||||
Total Debt | $ | 6,273.60 | $ | 5,291.90 | |||||
Schedule of Short-term Debt [Table Text Block] | ' | ||||||||
Short-term Borrowings | |||||||||
30-Sep | 2013 | 2012 | |||||||
Bank obligations | $ | 218.9 | $ | 249.9 | |||||
Commercial paper | 491 | 383.5 | |||||||
Total Short-term Borrowings | $ | 709.9 | $ | 633.4 | |||||
Schedule of Long-term Debt Instruments [Table Text Block] | ' | ||||||||
Long-term Debt | |||||||||
30-Sep | Fiscal Year Maturities | 2013 | 2012 | ||||||
Payable in U.S. Dollars | |||||||||
Debentures | |||||||||
8.75% | 2021 | $ | 18.4 | $ | 18.4 | ||||
Medium-term Notes (weighted average rate) | |||||||||
Series D 7.3% | 2016 | 32.1 | 32.1 | ||||||
Series E 7.6% | 2026 | 17.2 | 17.2 | ||||||
Senior Notes | |||||||||
Note 4.15% | 2013 | - | 300 | ||||||
Note 2.0% | 2016 | 350 | 350 | ||||||
Note 1.2% | 2018 | 400 | 400 | ||||||
Note 4.375% | 2019 | 400 | 400 | ||||||
Note 3.0% | 2022 | 400 | 400 | ||||||
Note 2.75% | 2023 | 400 | - | ||||||
Other (weighted average rate) | |||||||||
Variable-rate industrial revenue bonds 0.1% | 2021 to 2050 | 917.1 | 917.1 | ||||||
Commercial Paper 0.1% | 2014 | 400 | - | ||||||
Other 2.5% | 2014 to 2019 | 46.8 | 67.8 | ||||||
Payable in Other Currencies | |||||||||
Eurobonds 3.75% | 2014 | 405.7 | 385.8 | ||||||
Eurobonds 3.875% | 2015 | 405.7 | 385.8 | ||||||
RMB Syndicated Credit Facility 4.05% | 2015 | 40.9 | 31.7 | ||||||
Eurobonds 4.625% | 2017 | 405.7 | 385.8 | ||||||
Eurobonds 2.0% | 2020 | 405.7 | - | ||||||
CLP Series E bonds 6.3% | 2030 | 163.8 | 172.6 | ||||||
Other 6.2% | 2014 to 2021 | 358.7 | 396.7 | ||||||
Capital Lease Obligations | |||||||||
United States 5.0% | 2014 to 2018 | 1.3 | 1.5 | ||||||
Foreign 6.0% | 2014 to 2015 | 0.3 | 1 | ||||||
Less: Unamortized discount | -5.7 | -5 | |||||||
Total Long-term Debt | 5,563.70 | 4,658.50 | |||||||
Less: Current portion of long-term debt | -507.4 | -74.3 | |||||||
Long-term Debt | $ | 5,056.30 | $ | 4,584.20 | |||||
Schedule of Maturities of Long-term Debt [Table Text Block] | ' | ||||||||
Maturities of long-term debt in each of the next five years and beyond are as follows: | |||||||||
2014 | $ | 907.4 | |||||||
2015 | 453 | ||||||||
2016 | 433 | ||||||||
2017 | 453.8 | ||||||||
2018 | 439.9 | ||||||||
Thereafter | 2,876.60 | ||||||||
Total | $ | 5,563.70 |
Retirement_Benefits_Tables
Retirement Benefits (Tables) | 12 Months Ended | |||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||
Schedule Of Components Recognized In Accumulated Other Comprehensive Income On Pretax Basis [Table Text Block] | ' | |||||||||||||||||||||||||
The components recognized in accumulated other comprehensive loss on a pretax basis at 30 September consisted of: | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
U.S. | International | U.S. | International | |||||||||||||||||||||||
Net actuarial loss | $ | 869.8 | $ | 541.8 | $ | 1,434.90 | $ | 502.5 | ||||||||||||||||||
Prior service cost | 13.7 | 1.4 | 14 | 6 | ||||||||||||||||||||||
Net transition liability | - | 0.4 | - | 0.4 | ||||||||||||||||||||||
Total | $ | 883.5 | $ | 543.6 | $ | 1,448.90 | $ | 508.9 | ||||||||||||||||||
Pension Plans, Defined Benefit [Member] | ' | |||||||||||||||||||||||||
Schedule of Net Periodic Benefit Cost | ' | |||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||||
U.S. | International | U.S. | International | U.S. | International | |||||||||||||||||||||
Service cost | $ | 51.8 | $ | 31.5 | $ | 45.1 | $ | 24.1 | $ | 43.6 | $ | 29.5 | ||||||||||||||
Interest cost | 117.1 | 57.3 | 124.2 | 62.3 | 122.8 | 64.2 | ||||||||||||||||||||
Expected return on plan assets | -185.4 | -71.2 | -178.2 | -66.7 | -179.4 | -68.1 | ||||||||||||||||||||
Amortization | ||||||||||||||||||||||||||
Net actuarial loss | 116 | 27 | 78.6 | 17.4 | 63.9 | 30.9 | ||||||||||||||||||||
Prior service cost | 2.9 | 0.2 | 2.7 | 0.5 | 2.6 | 0.6 | ||||||||||||||||||||
Settlements | 11.5 | 0.9 | - | 1.4 | - | 1 | ||||||||||||||||||||
Special termination benefits | 1.2 | 6.2 | 4.6 | 2.2 | - | 0.3 | ||||||||||||||||||||
Other | - | 2.7 | - | 2.2 | - | 2.2 | ||||||||||||||||||||
Net Periodic Pension Cost | $ | 115.1 | $ | 54.6 | $ | 77 | $ | 43.4 | $ | 53.5 | $ | 60.6 | ||||||||||||||
Weighted Average Assumptions Used In The Calculation Of Net Periodic Pension Cost And PBO | ' | |||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||||
U.S. | International | U.S. | International | U.S. | International | |||||||||||||||||||||
Discount rate | 3.9 | % | 4.3 | % | 4.9 | % | 5.5 | % | 5.1 | % | 4.9 | % | ||||||||||||||
Expected return on plan assets | 8.3 | % | 6.5 | % | 8.8 | % | 6.6 | % | 8.8 | % | 6.6 | % | ||||||||||||||
Rate of compensation increase | 4 | % | 3.4 | % | 4 | % | 3.8 | % | 4 | % | 3.8 | % | ||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
U.S. | International | U.S. | International | |||||||||||||||||||||||
Discount rate | 4.8 | % | 4.3 | % | 3.9 | % | 4.3 | % | ||||||||||||||||||
Rate of compensation increase | 4 | % | 3.7 | % | 4 | % | 3.4 | % | ||||||||||||||||||
Schedule of Changes in Projected Benefit Obligations [Table Text Block] | ' | |||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
U.S. | International | U.S. | International | |||||||||||||||||||||||
Change in Projected Benefit Obligation | ||||||||||||||||||||||||||
Obligation at beginning of year | $ | 3,077.90 | $ | 1,408.60 | $ | 2,605.90 | $ | 1,159.60 | ||||||||||||||||||
Service cost | 51.8 | 31.5 | 45.1 | 24.1 | ||||||||||||||||||||||
Interest cost | 117.1 | 57.3 | 124.2 | 62.3 | ||||||||||||||||||||||
Amendments | 2.6 | -4.4 | 1.8 | - | ||||||||||||||||||||||
Actuarial (gain) loss | -318.5 | 113.5 | 400.7 | 182.6 | ||||||||||||||||||||||
Settlements | 8.9 | -2.8 | - | -4.5 | ||||||||||||||||||||||
Special termination benefits | 1.2 | 6.2 | 4.6 | 2.2 | ||||||||||||||||||||||
Participant contributions | - | 2.3 | - | 3.5 | ||||||||||||||||||||||
Benefits paid | -131.4 | -45.2 | -104.4 | -42.2 | ||||||||||||||||||||||
Currency translation/other | -0.6 | 18 | - | 21 | ||||||||||||||||||||||
Obligation at End of Year | $ | 2,809.00 | $ | 1,585.00 | $ | 3,077.90 | $ | 1,408.60 | ||||||||||||||||||
Schedule of Changes in Fair Value of Plan Assets [Table Text Block] | ' | |||||||||||||||||||||||||
Change in Plan Assets | ||||||||||||||||||||||||||
Fair value at beginning of year | $ | 2,099.80 | $ | 1,139.30 | $ | 1,844.30 | $ | 979.4 | ||||||||||||||||||
Actual return on plan assets | 313.4 | 117.5 | 348.8 | 120.8 | ||||||||||||||||||||||
Company contributions | 252.4 | 48.4 | 11.1 | 65.3 | ||||||||||||||||||||||
Participant contributions | - | 2.3 | - | 3.5 | ||||||||||||||||||||||
Benefits paid | -131.4 | -45.2 | -104.4 | -42.2 | ||||||||||||||||||||||
Settlements | - | -2.8 | - | -4.5 | ||||||||||||||||||||||
Currency translation/other | - | 7.1 | - | 17 | ||||||||||||||||||||||
Fair Value at End of Year | $ | 2,534.20 | $ | 1,266.60 | $ | 2,099.80 | $ | 1,139.30 | ||||||||||||||||||
Funded Status at End of Year | $ | -274.8 | $ | -318.4 | $ | -978.1 | $ | -269.3 | ||||||||||||||||||
Schedule of Amounts Recognized in Balance Sheet [Table Text Block] | ' | |||||||||||||||||||||||||
Amounts Recognized | ||||||||||||||||||||||||||
Noncurrent assets | $ | 19.4 | $ | 1.1 | $ | - | $ | 0.9 | ||||||||||||||||||
Accrued liabilities | -14.7 | - | -13.5 | - | ||||||||||||||||||||||
Noncurrent liabilities | -279.5 | -319.5 | -964.6 | -270.2 | ||||||||||||||||||||||
Net Amount Recognized | $ | -274.8 | $ | -318.4 | $ | -978.1 | $ | -269.3 | ||||||||||||||||||
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | ' | |||||||||||||||||||||||||
The changes in plan assets and benefit obligation that have been recognized in other comprehensive income on a pretax basis | ||||||||||||||||||||||||||
during 2013 and 2012 consist of the following: | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
U.S. | International | U.S. | International | |||||||||||||||||||||||
Net actuarial (gain) loss arising during the period | $ | -437.6 | $ | 67.2 | $ | 230 | $ | 128.6 | ||||||||||||||||||
Amortization of net actuarial loss | -127.5 | -27.9 | -78.6 | -18.8 | ||||||||||||||||||||||
Prior service cost (credit) arising during the period | 2.6 | -4.4 | 1.8 | - | ||||||||||||||||||||||
Amortization of prior service cost | -2.9 | -0.2 | -2.7 | -0.5 | ||||||||||||||||||||||
Total | $ | -565.4 | $ | 34.7 | $ | 150.5 | $ | 109.3 | ||||||||||||||||||
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block] | ' | |||||||||||||||||||||||||
The amount of accumulated other comprehensive loss at 30 September 2013 that is expected to be recognized as a component of | ||||||||||||||||||||||||||
net periodic pension cost during fiscal year 2014, excluding amounts that may be recognized through settlement losses, is as follows: | ||||||||||||||||||||||||||
U.S. | International | |||||||||||||||||||||||||
Net actuarial loss | $ | 83.2 | $ | 35.1 | ||||||||||||||||||||||
Prior service cost | 2.8 | 0.1 | ||||||||||||||||||||||||
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block] | ' | |||||||||||||||||||||||||
The following table provides information on pension plans where the benefit liability exceeds the value of plan assets: | ||||||||||||||||||||||||||
30-Sep-13 | 30-Sep-12 | |||||||||||||||||||||||||
U.S. | International | U.S. | International | |||||||||||||||||||||||
Pension Plans with PBO in Excess of Plan Assets: | ||||||||||||||||||||||||||
PBO | $ | 2,607.60 | $ | 1,558.70 | $ | 3,077.90 | $ | 1,383.30 | ||||||||||||||||||
Fair value of plan assets | 2,313.40 | 1,239.40 | 2,099.80 | 1,113.20 | ||||||||||||||||||||||
Pension Plans with ABO in Excess of Plan Assets: | ||||||||||||||||||||||||||
ABO | $ | 139.3 | $ | 1,401.30 | $ | 2,738.60 | $ | 1,249.10 | ||||||||||||||||||
Fair value of plan assets | 0 | 1,205.80 | 2,099.80 | 1,113.20 | ||||||||||||||||||||||
Schedule Of Target And Actual Asset Allocations By Category [Table Text Block] | ' | |||||||||||||||||||||||||
2013 Target Allocation | 2013 Actual Allocation | 2012 Actual Allocation | ||||||||||||||||||||||||
Asset Category | U.S. | International | U.S. | International | U.S. | International | ||||||||||||||||||||
Equity securities | 60–80% | 54–65% | 71% | 61% | 70% | 57% | ||||||||||||||||||||
Debt securities | 20–30% | 34–45% | 23% | 36% | 24% | 39% | ||||||||||||||||||||
Real estate/other | 0–10% | 0–2% | 5% | 1% | 5% | 1% | ||||||||||||||||||||
Cash | 0 | 0 | 1% | 2% | 1% | 3% | ||||||||||||||||||||
Total | 100% | 100% | 100% | 100% | ||||||||||||||||||||||
Schedule of Allocation of Plan Assets [Table Text Block] | ' | |||||||||||||||||||||||||
The following table summarizes pension plan assets measured at fair value by asset class (see Note 14, Fair Value Measurements, | ||||||||||||||||||||||||||
for definition of the levels): | ||||||||||||||||||||||||||
30-Sep-13 | 30-Sep-12 | |||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||
U.S. Qualified Pension | ||||||||||||||||||||||||||
Plans | ||||||||||||||||||||||||||
Cash and cash equivalents | $ | 10.1 | $ | 10.1 | $ | 0 | $ | 0 | $ | 9.9 | $ | 9.9 | $ | 0 | $ | 0 | ||||||||||
Equity securities | 764.3 | 764.3 | 0 | 0 | 645.3 | 645.3 | 0 | 0 | ||||||||||||||||||
Equity mutual funds | 487 | 487 | 0 | 0 | 446 | 446 | 0 | 0 | ||||||||||||||||||
Equity pooled funds | 561.4 | 0 | 561.4 | 0 | 370.9 | 0 | 370.9 | 0 | ||||||||||||||||||
Fixed income: | ||||||||||||||||||||||||||
Bonds (government and | ||||||||||||||||||||||||||
corporate) | 12.5 | 0 | 12.5 | 0 | 13.8 | 0 | 13.8 | 0 | ||||||||||||||||||
Mortgage and asset- | ||||||||||||||||||||||||||
backed securities | 14.7 | 0 | 14.7 | 0 | 12.7 | 0 | 12.7 | 0 | ||||||||||||||||||
Mutual funds | 24 | 24 | 0 | 0 | 23.6 | 23.6 | 0 | 0 | ||||||||||||||||||
Pooled funds | 527.4 | 0 | 527.4 | 0 | 462.6 | 0 | 462.6 | 0 | ||||||||||||||||||
Real estate pooled funds | 132.8 | 0 | 0 | 132.8 | 115 | 0 | 0 | 115 | ||||||||||||||||||
Total U.S. Qualified | ||||||||||||||||||||||||||
Pension Plans | $ | 2,534.20 | $ | 1,285.40 | $ | 1,116.00 | $ | 132.8 | $ | 2,099.80 | $ | 1,124.80 | $ | 860 | $ | 115 | ||||||||||
International Pension | ||||||||||||||||||||||||||
Plans | ||||||||||||||||||||||||||
Cash and cash equivalents | $ | 16.9 | $ | 16.9 | $ | 0 | $ | 0 | $ | 37.8 | $ | 37.8 | $ | 0 | $ | 0 | ||||||||||
Equity pooled funds | 776 | 0 | 776 | 0 | 642.6 | 0 | 642.6 | 0 | ||||||||||||||||||
Fixed income pooled funds | 385.3 | 0 | 385.3 | 0 | 375.9 | 0 | 375.9 | 0 | ||||||||||||||||||
Other pooled funds | 20.1 | 0 | 10.7 | 9.4 | 19.5 | 0 | 10.8 | 8.7 | ||||||||||||||||||
Insurance contracts | 68.3 | 0 | 0 | 68.3 | 63.5 | 0 | 0 | 63.5 | ||||||||||||||||||
Total International | ||||||||||||||||||||||||||
Pension Plans | $ | 1,266.60 | $ | 16.9 | $ | 1,172.00 | $ | 77.7 | $ | 1,139.30 | $ | 37.8 | $ | 1,029.30 | $ | 72.2 | ||||||||||
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block] | ' | |||||||||||||||||||||||||
The following table summarizes changes in fair value of the pension plan assets classified as Level 3, by asset class: | ||||||||||||||||||||||||||
Real Estate | Other Pooled | Insurance | ||||||||||||||||||||||||
Pooled Funds | Funds | Contracts | Total | |||||||||||||||||||||||
30-Sep-11 | $ | 101.3 | $ | 16.7 | $ | 71.6 | $ | 189.6 | ||||||||||||||||||
Actual return on plan assets: | ||||||||||||||||||||||||||
Assets held at end of year | 13.7 | -1.1 | -1 | 11.6 | ||||||||||||||||||||||
Assets sold during the period | - | 0.3 | - | 0.3 | ||||||||||||||||||||||
Purchases, sales, and settlements, net | - | -7.2 | -7.1 | -14.3 | ||||||||||||||||||||||
30-Sep-12 | $ | 115 | $ | 8.7 | $ | 63.5 | $ | 187.2 | ||||||||||||||||||
Actual return on plan assets: | ||||||||||||||||||||||||||
Assets held at end of year | 17.8 | 1.6 | 5.6 | 25 | ||||||||||||||||||||||
Assets sold during the period | - | 0.2 | - | 0.2 | ||||||||||||||||||||||
Purchases, sales, and settlements, net | - | -1.1 | -0.8 | -1.9 | ||||||||||||||||||||||
30-Sep-13 | $ | 132.8 | $ | 9.4 | $ | 68.3 | $ | 210.5 | ||||||||||||||||||
Schedule of Expected Benefit Payments [Table Text Block] | ' | |||||||||||||||||||||||||
Projected benefit payments, which reflect expected future service, are as follows: | ||||||||||||||||||||||||||
U.S. | International | |||||||||||||||||||||||||
2014 | $ | 115.6 | $ | 46.4 | ||||||||||||||||||||||
2015 | 124.7 | 51.3 | ||||||||||||||||||||||||
2016 | 130.3 | 53.3 | ||||||||||||||||||||||||
2017 | 141.3 | 54.8 | ||||||||||||||||||||||||
2018 | 148.8 | 57.7 | ||||||||||||||||||||||||
2019–2023 | 885.2 | 344.1 | ||||||||||||||||||||||||
Other Postretirement Benefits [Member] | ' | |||||||||||||||||||||||||
Schedule of Net Periodic Benefit Cost | ' | |||||||||||||||||||||||||
The cost of our other postretirement benefit plans includes the following components: | ||||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||||
Service cost | $ | 4.3 | $ | 4.5 | $ | 5.7 | ||||||||||||||||||||
Interest cost | 1.9 | 3.9 | 3.3 | |||||||||||||||||||||||
Amortization of net actuarial loss | 2.3 | 2.9 | 3.8 | |||||||||||||||||||||||
Net Periodic Postretirement Cost | $ | 8.5 | $ | 11.3 | $ | 12.8 | ||||||||||||||||||||
Schedule of Changes in Projected Benefit Obligations [Table Text Block] | ' | |||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
Obligation at beginning of year | $ | 119.9 | $ | 113.8 | ||||||||||||||||||||||
Service cost | 4.3 | 4.5 | ||||||||||||||||||||||||
Interest cost | 1.9 | 3.9 | ||||||||||||||||||||||||
Actuarial (gain) loss | -14.5 | 10.2 | ||||||||||||||||||||||||
Benefits paid | -11.7 | -12.5 | ||||||||||||||||||||||||
Obligation at End of Year | $ | 99.9 | $ | 119.9 | ||||||||||||||||||||||
Schedule of Amounts Recognized in Balance Sheet [Table Text Block] | ' | |||||||||||||||||||||||||
Amounts Recognized | ||||||||||||||||||||||||||
Accrued liabilities | $ | 10.9 | $ | 12.6 | ||||||||||||||||||||||
Noncurrent liabilities | 89 | 107.3 | ||||||||||||||||||||||||
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | ' | |||||||||||||||||||||||||
The changes in benefit obligation that have been recognized in other comprehensive income on a pretax basis during 2013 and 2012 | ||||||||||||||||||||||||||
for our other postretirement benefit plans consist of the following: | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
Net actuarial (gain) loss arising during the period | $ | -14.5 | $ | 10.2 | ||||||||||||||||||||||
Amortization of net actuarial loss | -2.3 | -2.9 | ||||||||||||||||||||||||
Total | $ | -16.8 | $ | 7.3 | ||||||||||||||||||||||
Schedule of Health Care Cost Trend Rates [Table Text Block] | ' | |||||||||||||||||||||||||
The assumed healthcare trend rates are as follows: | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
Healthcare trend rate | 7.50% | 8.00% | ||||||||||||||||||||||||
Ultimate trend rate | 5.00% | 5.00% | ||||||||||||||||||||||||
Year the ultimate trend rate is reached | 2019 | 2019 | ||||||||||||||||||||||||
Schedule of Expected Benefit Payments [Table Text Block] | ' | |||||||||||||||||||||||||
Projected benefit payments are as follows: | ||||||||||||||||||||||||||
2014 | $ | 11.1 | ||||||||||||||||||||||||
2015 | 10.9 | |||||||||||||||||||||||||
2016 | 11 | |||||||||||||||||||||||||
2017 | 10.8 | |||||||||||||||||||||||||
2018 | 10.6 | |||||||||||||||||||||||||
2019–2023 | 46.3 |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | |||
Sep. 30, 2013 | ||||
Commitments And Contingencies [Abstract] | ' | |||
Schedule of Change in Asset Retirement Obligation [Table Text Block] | ' | |||
Changes to the carrying amount of our asset retirement obligations are as follows: | ||||
Balance at 30 September 2011 | $ | 63.4 | ||
Additional accruals | 15 | |||
Liabilities settled | -5.7 | |||
Accretion expense | 3.4 | |||
Currency translation adjustment | 0.6 | |||
Balance at 30 September 2012 | $ | 76.7 | ||
Additional accruals | 12.9 | |||
Liabilities settled | -3.6 | |||
Accretion expense | 3.4 | |||
Currency translation adjustment | 0.4 | |||
Balance at 30 September 2013 | $ | 89.8 | ||
These obligations are primarily reflected in other noncurrent liabilities on the consolidated balance sheets. | ||||
Unrecorded Unconditional Purchase Obligations Disclosure [Table Text Block] | ' | |||
Unconditional Purchase Obligations | ||||
We are obligated to make future payments under unconditional purchase obligations as summarized below: | ||||
2014 | $ | 821 | ||
2015 | 104 | |||
2016 | 104 | |||
2017 | 80 | |||
2018 | 65 | |||
Thereafter | 296 | |||
Total | $ | 1,470 |
Capital_Stock_Tables
Capital Stock (Tables) | 12 Months Ended | |||||
Sep. 30, 2013 | ||||||
Capital Stock [Abstract] | ' | |||||
Schedule of Common Stock Outstanding Roll Forward [Table Text Block] | ' | |||||
The following table reflects the changes in common shares: | ||||||
Year ended 30 September | 2013 | 2012 | 2011 | |||
Number of Common Shares Outstanding | ||||||
Balance, beginning of year | 212,475,880 | 210,185,256 | 213,802,865 | |||
Purchase of treasury shares | -5,721,017 | -594,916 | -7,433,612 | |||
Issuance of treasury shares for stock option and award plans | 4,424,394 | 2,885,540 | 3,816,003 | |||
Balance, end of year | 211,179,257 | 212,475,880 | 210,185,256 |
ShareBased_Compensation_Tables
Share-Based Compensation (Tables) | 12 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Share-Based Compensation [Abstract] | ' | ||||||||
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | ' | ||||||||
Share-based compensation cost recognized in the consolidated income statements is summarized below: | |||||||||
2013 | 2012 | 2011 | |||||||
Before-Tax Share-Based Compensation Cost | $ | 43.5 | $ | 43.8 | $ | 44.8 | |||
Income tax benefit | -15.7 | -15.7 | -17.1 | ||||||
After-Tax Share-Based Compensation Cost | $ | 27.8 | $ | 28.1 | $ | 27.7 | |||
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block] | ' | ||||||||
Total before-tax share-based compensation cost by type of program was as follows: | |||||||||
2013 | 2012 | 2011 | |||||||
Stock options | $ | 21.5 | $ | 22.1 | $ | 21.4 | |||
Deferred stock units | 19.6 | 19.5 | 20.8 | ||||||
Restricted stock | 2.4 | 2.2 | 2.6 | ||||||
Before-Tax Share-Based Compensation Cost | $ | 43.5 | $ | 43.8 | $ | 44.8 | |||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | ' | ||||||||
2013 | 2012 | 2011 | |||||||
Expected volatility | 28.6%–30.4 | % | 29.0%–30.4 | % | 29.2%–30.0 | % | |||
Expected dividend yield | 2.4 | % | 2.3 | % | 2.2 | % | |||
Expected life (in years) | 7.3–9.1 | 7.3–9.0 | 7.0–8.7 | ||||||
Risk-free interest rate | 1.2%–1.5 | % | 1.7%–2.1 | % | 2.4%–2.9 | % | |||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||
A summary of stock option activity is presented below: | |||||||||
Weighted Average | |||||||||
Stock Options | Shares (000) | Exercise Price | |||||||
Outstanding at 30 September 2012 | 11,835 | $ | 67.79 | ||||||
Granted | 1,140 | 81.76 | |||||||
Exercised | -4,263 | 55.17 | |||||||
Forfeited/Expired | -100 | 85.37 | |||||||
Outstanding at 30 September 2013 | 8,612 | $ | 75.69 | ||||||
Exercisable at 30 September 2013 | 6,531 | $ | 73.23 | ||||||
Weighted Average | |||||||||
Remaining Contractual | Aggregate Intrinsic | ||||||||
Stock Options | Terms (in years) | Value | |||||||
Outstanding at 30 September 2013 | 5.3 | $ | 268 | ||||||
Exercisable at 30 September 2013 | 4.3 | $ | 218 | ||||||
Schedule of Deferred Stock Units and Restricted Stock Activity [Table Text Block] | ' | ||||||||
Weighted Average | |||||||||
Deferred Stock Units | Shares (000) | Grant-Date Fair Value | |||||||
Outstanding at 30 September 2012 | 1,416 | $ | 69.09 | ||||||
Granted | 264 | 82.78 | |||||||
Paid out | -393 | 56.36 | |||||||
Forfeited/adjustments | -23 | 83.23 | |||||||
Outstanding at 30 September 2013 | 1,264 | $ | 75.64 | ||||||
Weighted Average | |||||||||
Restricted Stock | Shares (000) | Grant-Date Fair Value | |||||||
Outstanding at 30 September 2012 | 143 | $ | 73.61 | ||||||
Granted | 34 | 81.57 | |||||||
Vested | -53 | 67.12 | |||||||
Outstanding at 30 September 2013 | 124 | $ | 78.51 |
Noncontrolling_Interests_Table
Noncontrolling Interests (Tables) | 12 Months Ended | ||||
Sep. 30, 2013 | |||||
Noncontrolling Interests | ' | ||||
Redeemable Noncontrolling Interest Rollforward | ' | ||||
The following is a rollforward of the redeemable noncontrolling interest: | |||||
Balance at 30 September 2011 | $ | - | |||
Indura acquisition | 374.1 | ||||
Net loss | -2.4 | ||||
Currency translation adjustment | 20.8 | ||||
Balance at 30 September 2012 | $ | 392.5 | |||
Net income | 8.1 | ||||
Dividends | -1.1 | ||||
Currency translation adjustment | -23.7 | ||||
Balance at 30 September 2013 | $ | 375.8 |
Earnings_per_Share_Tables
Earnings per Share (Tables) | 12 Months Ended | ||||||||||
Sep. 30, 2013 | |||||||||||
Earnings Per Share | ' | ||||||||||
Schedule of Earnings Per Share, Basic and Diluted | ' | ||||||||||
The following table sets forth the computation of basic and diluted earnings per share (EPS): | |||||||||||
30-Sep | 2013 | 2012 | 2011 | ||||||||
Numerator | |||||||||||
Income from continuing operations | $ | 1,004.20 | $ | 999.2 | $ | 1,134.30 | |||||
Income (Loss) from discontinued operations | -10 | 168.1 | 89.9 | ||||||||
Net Income Attributable to Air Products | $ | 994.2 | $ | 1,167.30 | $ | 1,224.20 | |||||
Denominator (in millions) | |||||||||||
Weighted average common shares—Basic | 209.7 | 211.2 | 213 | ||||||||
Effect of dilutive securities | |||||||||||
Employee stock option and other award plans | 2.6 | 3.5 | 4.6 | ||||||||
Weighted average common shares—Diluted | 212.3 | 214.7 | 217.6 | ||||||||
Basic EPS Attributable to Air Products | |||||||||||
Income from continuing operations | $ | 4.79 | $ | 4.73 | $ | 5.33 | |||||
Income (Loss) from discontinued operations | -0.05 | 0.8 | 0.42 | ||||||||
Net Income Attributable to Air Products | $ | 4.74 | $ | 5.53 | $ | 5.75 | |||||
Diluted EPS Attributable to Air Products | |||||||||||
Income from continuing operations | $ | 4.73 | $ | 4.66 | $ | 5.22 | |||||
Income (Loss) from discontinued operations | -0.05 | 0.78 | 0.41 | ||||||||
Net Income Attributable to Air Products | $ | 4.68 | $ | 5.44 | $ | 5.63 |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||
Sep. 30, 2013 | |||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | ' | ||||||||||
The following table summarizes the income of U.S. and foreign operations before taxes: | |||||||||||
2013 | 2012 | 2011 | |||||||||
Income from Continuing Operations before Taxes | |||||||||||
United States | $ | 428.5 | $ | 518.6 | $ | 625.5 | |||||
Foreign | 754.1 | 640.1 | 767.1 | ||||||||
Income from equity affiliates | 167.8 | 153.8 | 154.3 | ||||||||
Total | $ | 1,350.40 | $ | 1,312.50 | $ | 1,546.90 | |||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | ||||||||||
The following table shows the components of the provision for income taxes: | |||||||||||
2013 | 2012 | 2011 | |||||||||
Current Tax Provision | |||||||||||
Federal | $ | 97.6 | $ | 43.1 | $ | 14.7 | |||||
State | 6.5 | 9.6 | 20.1 | ||||||||
Foreign | 191 | 173.9 | 153.8 | ||||||||
295.1 | 226.6 | 188.6 | |||||||||
Deferred Tax Provision | |||||||||||
Federal | 27.7 | 76.5 | 181.6 | ||||||||
State | -7.8 | 4 | 2.6 | ||||||||
Foreign | -7.1 | -19.8 | 2.5 | ||||||||
12.8 | 60.7 | 186.7 | |||||||||
Income Tax Provision | $ | 307.9 | $ | 287.3 | $ | 375.3 | |||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | ||||||||||
A reconciliation of the differences between the United States federal statutory tax rate and the effective tax rate is as follows: | |||||||||||
(Percent of income before taxes) | 2013 | 2012 | 2011 | ||||||||
U.S. federal statutory tax rate | 35 | % | 35 | % | 35 | % | |||||
State taxes, net of federal benefit | 0.5 | 0.7 | 1 | ||||||||
Income from equity affiliates | -4.3 | -4 | -3.3 | ||||||||
Foreign taxes and credits | -6.9 | -8.6 | -7.1 | ||||||||
Domestic production activities | -0.6 | -0.9 | -0.6 | ||||||||
Tax audit settlements and adjustments | ― | -1.1 | -1.1 | ||||||||
Other | -0.9 | 0.8 | 0.4 | ||||||||
Effective Tax Rate | 22.8 | % | 21.9 | % | 24.3 | % | |||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | ||||||||||
The significant components of deferred tax assets and liabilities are as follows: | |||||||||||
30-Sep | 2013 | 2012 | |||||||||
Gross Deferred Tax Assets | |||||||||||
Retirement benefits and compensation accruals | $ | 347.2 | $ | 520.4 | |||||||
Tax loss carryforwards | 53.3 | 57.4 | |||||||||
Tax credits and other tax carryforwards | 66.6 | 52.8 | |||||||||
Reserves and accruals | 140.3 | 188.9 | |||||||||
Asset impairment | ― | 25.4 | |||||||||
Currency losses | 34.8 | ― | |||||||||
Other | 40.1 | 43.2 | |||||||||
Valuation allowance | -44.7 | -36.6 | |||||||||
Deferred Tax Assets | 637.6 | 851.5 | |||||||||
Gross Deferred Tax Liabilities | |||||||||||
Plant and equipment | 1,066.40 | 1,089.50 | |||||||||
Currency gains | ― | 20.3 | |||||||||
Unremitted earnings of foreign entities | 80.6 | 71.9 | |||||||||
Intangible assets | 135.5 | 135.3 | |||||||||
Other | 17.8 | 10.2 | |||||||||
Deferred Tax Liabilities | 1,300.30 | 1,327.20 | |||||||||
Net Deferred Income Tax Liability | $ | 662.7 | $ | 475.7 | |||||||
ScheduleOfDeferredTax Assets And Liabilities Included In Consolidated Financial Statements [Table Text Block] | ' | ||||||||||
Deferred tax assets and liabilities are included within the consolidated financial statements as follows: | |||||||||||
2013 | 2012 | ||||||||||
Deferred Tax Assets | |||||||||||
Other receivables and current assets | $ | 115.3 | $ | 129 | |||||||
Other noncurrent assets | 53.1 | 73.7 | |||||||||
Total Deferred Tax Assets | 168.4 | 202.7 | |||||||||
Deferred Tax Liabilities | |||||||||||
Payables and accrued liabilities | 3.9 | 7.6 | |||||||||
Deferred income taxes | 827.2 | 670.8 | |||||||||
Total Deferred Tax Liabilities | 831.1 | 678.4 | |||||||||
Net Deferred Income Tax Liability | $ | 662.7 | $ | 475.7 | |||||||
Summary of Income Tax Contingencies [Table Text Block] | ' | ||||||||||
A reconciliation of the beginning and ending amount of the unrecognized tax benefits is as follows: | |||||||||||
Unrecognized Tax Benefits | 2013 | 2012 | 2011 | ||||||||
Balance at beginning of year | $ | 110.8 | $ | 126.4 | $ | 197.8 | |||||
Additions for tax positions of the current year | 12.7 | 44.5 | 16.3 | ||||||||
Additions for tax positions of prior years | 9 | 2.3 | 5.7 | ||||||||
Reductions for tax positions of prior years | -0.5 | -46.9 | -72.4 | ||||||||
Settlements | -1.4 | -11 | -15.6 | ||||||||
Statute of limitations expiration | -8 | -3.7 | -4.8 | ||||||||
Foreign currency translation | 1.7 | -0.8 | -0.6 | ||||||||
Balance at End of Year | $ | 124.3 | $ | 110.8 | $ | 126.4 | |||||
Summary of Income Tax Examinations [Table Text Block] | ' | ||||||||||
We generally remain subject to examination in the following major tax jurisdictions for the years indicated below: | |||||||||||
Major Tax Jurisdiction | Open Tax Years | ||||||||||
North America | |||||||||||
United States | 2009–2013 | ||||||||||
Canada | 2008–2013 | ||||||||||
Europe | |||||||||||
France | 2009–2013 | ||||||||||
Germany | 2006–2013 | ||||||||||
Netherlands | 2008–2013 | ||||||||||
Poland | 2008–2013 | ||||||||||
Spain | 2009–2013 | ||||||||||
United Kingdom | 2010–2013 | ||||||||||
Asia | |||||||||||
China | 2008–2013 | ||||||||||
Singapore | 2008–2013 | ||||||||||
South Korea | 2008–2013 | ||||||||||
Taiwan | 2009–2013 | ||||||||||
Latin America | |||||||||||
Brazil | 2008–2013 | ||||||||||
Chile | 2010–2013 |
Supplemental_Information_Table
Supplemental Information (Tables) | 12 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Supplemental Information [Abstract] | ' | ||||||||
Schedule Of Other Receivables And Other Current Assets [Table Text Block] | ' | ||||||||
Other Receivables and Current Assets | |||||||||
30-Sep | 2013 | 2012 | |||||||
Deferred tax assets | $ | 115.3 | $ | 129 | |||||
Derivative instruments | 61.8 | 14.7 | |||||||
Other receivables | 174.1 | 126.3 | |||||||
Current capital lease receivables | 67.2 | 62 | |||||||
Other | 14 | 10 | |||||||
$ | 432.4 | $ | 342 | ||||||
Schedule of Other Assets, Noncurrent [Table Text Block] | ' | ||||||||
Other Noncurrent Assets | |||||||||
30-Sep | 2013 | 2012 | |||||||
Derivative instruments | $ | 64.1 | $ | 112.9 | |||||
Other long-term receivables | 38.2 | 47.8 | |||||||
Deferred financing cost, net | 27 | 24.3 | |||||||
Prepaid tax | 34.1 | - | |||||||
Deferred tax assets | 53.1 | 73.7 | |||||||
Pension benefits | 20.5 | 0.9 | |||||||
Other | 156.5 | 134 | |||||||
$ | 393.5 | $ | 393.6 | ||||||
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | ' | ||||||||
Payables and Accrued Liabilities | |||||||||
30-Sep | 2013 | 2012 | |||||||
Trade creditors | $ | 1,025.50 | $ | 1,004.90 | |||||
Customer advances | 162.7 | 155 | |||||||
Accrued payroll and employee benefits | 133.5 | 137.7 | |||||||
Pension benefits | 14.7 | 13.5 | |||||||
Dividends payable | 150 | 136 | |||||||
Outstanding payments in excess of certain cash balances | 10.5 | 26.3 | |||||||
Accrued interest expense | 54.1 | 48.4 | |||||||
Derivative instruments | 27.5 | 34.8 | |||||||
Contingent proceeds related to Homecare retenders | 148.1 | - | |||||||
Liability related to purchase of shares from noncontrolling interests | - | 10.6 | |||||||
Contract actions associated with business restructuring | 1.9 | 100 | |||||||
Severance and other costs associated with business restructuring and cost reduction plans | 65.2 | 89.4 | |||||||
Other | 151.2 | 171.1 | |||||||
$ | 1,944.90 | $ | 1,927.70 | ||||||
Schedule Of Other Liabilities Noncurrent [Table Text Block] | ' | ||||||||
Other Noncurrent Liabilities | |||||||||
30-Sep | 2013 | 2012 | |||||||
Pension benefits | $ | 599 | $ | 1,234.80 | |||||
Postretirement benefits | 89 | 107.3 | |||||||
Other employee benefits | 114.3 | 123 | |||||||
Contingencies related to uncertain tax positions | 94.2 | 112.1 | |||||||
Advance payments | 31 | 32.7 | |||||||
Environmental liabilities | 79.6 | 80.3 | |||||||
Contingent proceeds related to Homecare retenders | - | 140.8 | |||||||
Derivative instruments | 13.8 | 12 | |||||||
Asset retirement obligations | 86 | 71.2 | |||||||
Other | 57.4 | 66.7 | |||||||
$ | 1,164.30 | $ | 1,980.90 | ||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | ||||||||
Accumulated Other Comprehensive Income (Loss) | |||||||||
30-Sep | 2013 | 2012 | 2011 | ||||||
Net unrecognized loss on derivatives qualifying as hedges | $ | -4.1 | $ | -18.9 | $ | -9.5 | |||
Foreign currency translation adjustments | -61.5 | -38.8 | -130.9 | ||||||
Pension and postretirement benefits | -955 | -1,291.10 | -1,113.00 | ||||||
$ | -1,020.60 | $ | -1,348.80 | $ | -1,253.40 | ||||
Schedule Of Other Income Expense Net [Table Text Block] | ' | ||||||||
Other Income (Expense), Net | |||||||||
30-Sep | 2013 | 2012 | 2011 | ||||||
Technology and royalty income | $ | 23.4 | $ | 22.9 | $ | 24.3 | |||
Interest income | 6.4 | 5.4 | 5.7 | ||||||
Foreign exchange | -3.2 | 1.1 | -8.6 | ||||||
Sale of assets and investments | 20 | 8.4 | 14.6 | ||||||
Government grants | 6.8 | 15.2 | 9.5 | ||||||
Other | 16.8 | -5.9 | -3.8 | ||||||
$ | 70.2 | $ | 47.1 | $ | 41.7 |
Summary_by_Quarter_Unaudited_T
Summary by Quarter (Unaudited) (Tables) | 12 Months Ended | |||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | |||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | ' | |||||||||||||||||
These tables summarize the unaudited results of operations for each quarter of 2013 and 2012: | ||||||||||||||||||
2013 | First | Second | Third | Fourth | Total | |||||||||||||
Sales | $ | 2,562.40 | $ | 2,484.20 | $ | 2,547.30 | $ | 2,586.50 | $ | 10,180.40 | ||||||||
Gross profit | 662.3 | 670.6 | 671.8 | 703.6 | 2,708.30 | |||||||||||||
Business restructuring and cost reduction plans(A) | - | - | - | 231.6 | 231.6 | |||||||||||||
Pension settlement loss(B) | - | - | 4.5 | 7.9 | 12.4 | |||||||||||||
Advisory costs(C) | - | - | - | 10.1 | 10.1 | |||||||||||||
Operating income | 372.4 | 389.7 | 383.1 | 179.2 | 1,324.40 | |||||||||||||
Net income | 287.2 | 299.6 | 298.4 | 147.3 | 1,032.50 | |||||||||||||
Net Income attributable to Air Products | ||||||||||||||||||
Income from continuing operations | 276.9 | 289.3 | 287.8 | 150.2 | 1,004.20 | |||||||||||||
Income (Loss) from discontinued operations | 1.4 | 1.1 | 0.6 | -13.1 | -10 | |||||||||||||
Net Income attributable to Air Products | 278.3 | 290.4 | 288.4 | 137.1 | 994.2 | |||||||||||||
Basic EPS attributable to Air Products | ||||||||||||||||||
Income from continuing operations | 1.32 | 1.38 | 1.38 | 0.71 | 4.79 | |||||||||||||
Income (Loss) from discontinued operations | 0.01 | 0.01 | - | -0.06 | -0.05 | |||||||||||||
Net income per common share | 1.33 | 1.39 | 1.38 | 0.65 | 4.74 | |||||||||||||
Diluted EPS attributable to Air Products | ||||||||||||||||||
Income from continuing operations | 1.3 | 1.37 | 1.36 | 0.7 | 4.73 | |||||||||||||
Income (Loss) from discontinued operations | 0.01 | 0.01 | - | -0.06 | -0.05 | |||||||||||||
Net income per common share | 1.31 | 1.38 | 1.36 | 0.64 | 4.68 | |||||||||||||
Dividends declared per common share | 0.64 | 0.71 | 0.71 | 0.71 | 2.77 | |||||||||||||
Market price per common share: | ||||||||||||||||||
High | 86.31 | 90.34 | 97.12 | 114.75 | ||||||||||||||
Low | 76.78 | 84.15 | 84.04 | 90.12 | ||||||||||||||
2012 | First | Second | Third | Fourth | Total | |||||||||||||
Sales | $ | 2,321.50 | $ | 2,344.30 | $ | 2,340.10 | $ | 2,605.80 | $ | 9,611.70 | ||||||||
Gross profit | 599.2 | 628.5 | 649.3 | 682.8 | 2,559.80 | |||||||||||||
Business restructuring and cost reduction plans(A) | - | 86.8 | - | 240.6 | 327.4 | |||||||||||||
Gain on previously held equity interest(D) | - | - | 85.9 | - | 85.9 | |||||||||||||
Customer bankruptcy(C) | - | - | - | 9.8 | 9.8 | |||||||||||||
Operating income | 353.8 | 287.9 | 482.8 | 157.9 | 1,282.40 | |||||||||||||
Net income | 256.3 | 302.2 | 492.5 | 142.3 | 1,193.30 | |||||||||||||
Net Income attributable to Air Products | ||||||||||||||||||
Income from continuing operations | 225.9 | 279 | 357.2 | 137.1 | 999.2 | |||||||||||||
Income from discontinued operations | 22.2 | 17 | 127.3 | 1.6 | 168.1 | |||||||||||||
Net Income attributable to Air Products | 248.1 | 296 | 484.5 | 138.7 | 1,167.30 | |||||||||||||
Basic EPS attributable to Air Products | ||||||||||||||||||
Income from continuing operations | 1.07 | 1.32 | 1.69 | 0.65 | 4.73 | |||||||||||||
Income from discontinued operations | 0.11 | 0.08 | 0.6 | 0.01 | 0.8 | |||||||||||||
Net income per common share | 1.18 | 1.4 | 2.29 | 0.66 | 5.53 | |||||||||||||
Diluted EPS attributable to Air Products | ||||||||||||||||||
Income from continuing operations | 1.06 | 1.3 | 1.66 | 0.64 | 4.66 | |||||||||||||
Income from discontinued operations | 0.1 | 0.08 | 0.6 | 0.01 | 0.78 | |||||||||||||
Net income per common share | 1.16 | 1.38 | 2.26 | 0.65 | 5.44 | |||||||||||||
Dividends declared per common share | 0.58 | 0.64 | 0.64 | 0.64 | 2.5 | |||||||||||||
Market price per common share: | ||||||||||||||||||
High | 90.2 | 92.48 | 92.79 | 85.83 | ||||||||||||||
Low | 72.26 | 85.6 | 76.11 | 77.21 | ||||||||||||||
(A) For additional information, see Note 4, Business Restructuring and Cost Reduction Plans. | ||||||||||||||||||
(B) For additional information, see Note 16, Retirement Benefits. During the third quarter, the pension settlements loss of $4.5 was | ||||||||||||||||||
presented in other income (expense), net. | ||||||||||||||||||
(C) For additional information, see Note 23, Supplemental Information. | ||||||||||||||||||
(D) For additional information, see Note 5, Business Combinations. |
Business_Segment_and_Geographi1
Business Segment and Geographic Information (Tables) | 12 Months Ended | |||||||||
Sep. 30, 2013 | ||||||||||
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract] | ' | |||||||||
Segment Revenue from External Customers and Operating Income | ' | |||||||||
Business Segment | ||||||||||
Sales to External Customers | 2013 | 2012 | 2011 | |||||||
Merchant Gases | $ | 4,098.60 | $ | 3,662.40 | $ | 3,664.90 | ||||
Tonnage Gases | 3,387.30 | 3,206.70 | 3,316.70 | |||||||
Electronics and Performance Materials | 2,243.40 | 2,322.50 | 2,291.50 | |||||||
Equipment and Energy | 451.1 | 420.1 | 400.6 | |||||||
Segment and Consolidated Totals | $ | 10,180.40 | $ | 9,611.70 | $ | 9,673.70 | ||||
Operating Income | 2013 | 2012 | 2011 | |||||||
Merchant Gases | $ | 680.5 | $ | 644 | $ | 668.9 | ||||
Tonnage Gases | 515.9 | 512 | 503.1 | |||||||
Electronics and Performance Materials (A) | 321.3 | 425.6 | 361.1 | |||||||
Equipment and Energy | 65.5 | 44.6 | 62.8 | |||||||
Segment total | $ | 1,583.20 | $ | 1,626.20 | $ | 1,595.90 | ||||
Business restructuring and cost reduction plans (B) | -231.6 | -327.4 | - | |||||||
Gain on previously held equity interest | ||||||||||
Net loss on Airgas transaction | - | - | -48.5 | |||||||
Customer bankruptcy | - | -9.8 | - | |||||||
Pension settlement loss | -12.4 | - | - | |||||||
Advisory costs | -10.1 | - | - | |||||||
Other (C) | -4.7 | -6.6 | -39.3 | |||||||
Consolidated Total | $ | 1,324.40 | $ | 1,282.40 | $ | 1,508.10 | ||||
(A) Includes the gain on remeasuring our previously held equity interest in DA NanoMaterials. For additional information, see Note 5, Business Combinations. | ||||||||||
(B) Information about how the charges related to the businesses at the segment level is discussed in Note 4, Business Restructuring and Cost Reduction Plans. | ||||||||||
(C) Includes stranded costs resulting from discontinued operations. | ||||||||||
Schedule Of Segment Reporting Depreciation And Amortization [Table Text Block] | ' | |||||||||
Depreciation and Amortization | 2013 | 2012 | 2011 | |||||||
Merchant Gases | $ | 409.5 | $ | 363.2 | $ | 356.9 | ||||
Tonnage Gases | 314.8 | 320.4 | 310.9 | |||||||
Electronics and Performance Materials | 173.4 | 144.1 | 154.9 | |||||||
Equipment and Energy | 8.3 | 12.2 | 11 | |||||||
Segment total | $ | 906 | $ | 839.9 | $ | 833.7 | ||||
Other | 1 | 0.9 | 0.6 | |||||||
Consolidated Total | $ | 907 | $ | 840.8 | $ | 834.3 | ||||
Schedule Of Segment Reporting Equity Affiliates Income [Table Text Block] | ' | |||||||||
Equity Affiliates’ Income | 2013 | 2012 | 2011 | |||||||
Merchant Gases | $ | 145 | $ | 137.1 | $ | 134.6 | ||||
Other segments | 22.8 | 16.7 | 19.7 | |||||||
Segment and Consolidated Totals | $ | 167.8 | $ | 153.8 | $ | 154.3 | ||||
Schedule Of Segment Reporting Assets [Table Text Block] | ' | |||||||||
Total Assets | 2013 | 2012 | 2011 | |||||||
Merchant Gases | $ | 7,742.20 | $ | 7,411.90 | $ | 5,380.00 | ||||
Tonnage Gases | 5,528.20 | 5,192.20 | 4,581.80 | |||||||
Electronics and Performance Materials | 2,891.50 | 2,969.60 | 2,560.70 | |||||||
Equipment and Energy | 695.1 | 399.9 | 357.5 | |||||||
Segment total | $ | 16,857.00 | $ | 15,973.60 | $ | 12,880.00 | ||||
Other | 990.6 | 925.4 | 878.6 | |||||||
Discontinued Operations | 2.5 | 42.8 | 532.1 | |||||||
Consolidated Total | $ | 17,850.10 | $ | 16,941.80 | $ | 14,290.70 | ||||
Schedule Of Segment Investment In And Advances To Equity Affiliates [Table Text Block] | ' | |||||||||
Investment in Net Assets of and Advances to Equity Affiliates | 2013 | 2012 | 2011 | |||||||
Merchant Gases | $ | 1,012.30 | $ | 983.4 | $ | 800.4 | ||||
Other segments | 183.2 | 192.3 | 211.2 | |||||||
Segment and Consolidated Totals | $ | 1,195.50 | $ | 1,175.70 | $ | 1,011.60 | ||||
Schedule Of Identifiable Assets By Segment [Table Text Block] | ' | |||||||||
Identifiable Assets | 2013 | 2012 | 2011 | |||||||
Merchant Gases | $ | 6,729.90 | $ | 6,428.50 | $ | 4,579.60 | ||||
Tonnage Gases | 5,397.00 | 5,059.80 | 4,464.30 | |||||||
Electronics and Performance Materials | 2,859.40 | 2,930.30 | 2,488.90 | |||||||
Equipment and Energy | 675.2 | 379.3 | 335.6 | |||||||
Segment total | $ | 15,661.50 | $ | 14,797.90 | $ | 11,868.40 | ||||
Other | 990.6 | 925.4 | 878.6 | |||||||
Discontinued Operations | 2.5 | 42.8 | 532.1 | |||||||
Consolidated Total | $ | 16,654.60 | $ | 15,766.10 | $ | 13,279.10 | ||||
Schedule Of Segment Expenditures For Long Lived Assets [Table Text Block] | ' | |||||||||
Expenditures for Long-Lived Assets (A) | 2013 | 2012 | 2011 | |||||||
Merchant Gases | $ | 558.7 | $ | 523.6 | $ | 390.5 | ||||
Tonnage Gases | 448 | 630.7 | 669.9 | |||||||
Electronics and Performance Materials | 226.8 | 280.8 | 196 | |||||||
Equipment and Energy | 290.7 | 85.9 | 45.9 | |||||||
Segment total | $ | 1,524.20 | $ | 1,521.00 | $ | 1,302.30 | ||||
Other | - | - | 7 | |||||||
Consolidated Total | $ | 1,524.20 | $ | 1,521.00 | $ | 1,309.30 | ||||
Segments, Geographical Areas [Abstract] | ' | |||||||||
Geographic Information - Revenue From External Customers | ' | |||||||||
Sales to External Customers | 2013 | 2012 | 2011 | |||||||
United States | $ | 4,258.40 | $ | 4,114.50 | $ | 4,252.50 | ||||
Canada | 275.5 | 267.6 | 297 | |||||||
Europe | 2,602.10 | 2,588.50 | 2,773.80 | |||||||
Asia, excluding China | 1,320.10 | 1,349.90 | 1,307.90 | |||||||
China | 1,008.30 | 954.1 | 814.2 | |||||||
Latin America | 716 | 337.1 | 228.3 | |||||||
$ | 10,180.40 | $ | 9,611.70 | $ | 9,673.70 | |||||
Geographic Information - Long-Lived Assets | ' | |||||||||
Long-Lived Assets (A) | 2013 | 2012 | 2011 | |||||||
United States | $ | 3,632.10 | $ | 3,534.40 | $ | 3,099.20 | ||||
Canada | 522.3 | 571.3 | 566.1 | |||||||
Europe | 2,068.80 | 1,760.10 | 1,650.00 | |||||||
Asia, excluding China | 962.3 | 948.1 | 954.2 | |||||||
China | 1,281.70 | 918.5 | 832 | |||||||
Latin America | 506.8 | 508.2 | 121.2 | |||||||
$ | 8,974.00 | $ | 8,240.60 | $ | 7,222.70 | |||||
(A) Long-lived assets include plant and equipment, net. |
Major_Accounting_Policies_Narr
Major Accounting Policies (Narratives) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ' | ' |
Environmental Remediation Expense | $37.10 | $44.70 | $34 |
Allowance for Doubtful Accounts | 101.7 | 103.5 | ' |
Provision for Doubtful Accounts | 27.6 | 36.8 | 23.4 |
Capitalized interest | 25.8 | 30.2 | 22.7 |
Asset retirement obligations | $89.80 | $76.70 | $63.40 |
Period For Reallocation Of Purchase Price | '1 year | ' | ' |
Customer Relationships [Member] | Minimum [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '5 years | ' | ' |
Customer Relationships [Member] | Maximum [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '25 years | ' | ' |
Patented Technology [Member] | Minimum [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '5 years | ' | ' |
Patented Technology [Member] | Maximum [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '20 years | ' | ' |
Computer Software [Member] | Minimum [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '3 years | ' | ' |
Computer Software [Member] | Maximum [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '10 years | ' | ' |
Land Use Rights [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '50 years | ' | ' |
Discontinued_Operations_Narrat
Discontinued Operations (Narrative) (Details) | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||
In Millions, except Per Share data, unless otherwise specified | Apr. 30, 2012 | Apr. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Jun. 30, 2012 | Sep. 30, 2011 |
European Homecare Business [Member] | European Homecare Business [Member] | European Homecare Business [Member] | European Homecare Business [Member] | European Homecare Business [Member] | European Homecare Business [Member] | U S Healthcare Business [Member] | |
USD ($) | EUR (€) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Proceeds from sale of business | $777 | € 590 | ' | ' | ' | ' | ' |
Contingent proceeds related to retender arrangements | 144 | 110 | ' | ' | ' | ' | ' |
Additional cash proceeds received based upon collection of accounts receivable | ' | ' | ' | 42 | 32 | ' | ' |
Gain on sale of business, before tax | ' | ' | ' | ' | ' | 207.4 | ' |
Gain on sale of business, after-tax | ' | ' | ' | ' | ' | 150.3 | ' |
Gain on sale of business, per share | ' | ' | ' | ' | ' | $0.70 | ' |
Impairment charge | ' | ' | 18.7 | ' | ' | 33.5 | ' |
Impairment charge, after-tax | ' | ' | 13.6 | ' | ' | 29.5 | ' |
Impairment charge, per share | ' | ' | $0.06 | ' | ' | $0.14 | ' |
Discontinued operations, tax benefit | ' | ' | ' | ' | ' | ' | $8.90 |
Discontinued operations, tax benefit, per share | ' | ' | ' | ' | ' | ' | $0.04 |
Discontinued_Operations_Schedu
Discontinued Operations (Schedule of Operating Results) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
Sales | $52.30 | $258 | $408.30 |
Income before taxes | 3.8 | 68.1 | 114.1 |
Income tax provision | 0.2 | 20.8 | 24.2 |
Income from operations of discontinued operations | 3.6 | 47.3 | 89.9 |
Gain (loss) on sale of business and impairment/write-down, net of tax | -13.6 | 120.8 | 0 |
Income (loss) from Discontinued Operations, net of tax | ($10) | $168.10 | $89.90 |
Discontinued_Operations_Schedu1
Discontinued Operations (Schedule of Assets and Liabilities) (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
In Millions, unless otherwise specified | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
Cash and cash items | $0 | $0 | $1.10 |
Trade receivables, net | 2.5 | 15 | ' |
Inventories | 0 | 0.5 | ' |
Other current assets | 0 | 0.1 | ' |
Total Current Assets | 2.5 | 15.6 | ' |
Plant and equipment, net | 0 | 27.2 | ' |
Total Noncurrent Assets | 0 | 27.2 | ' |
Payables and accrued liabilities | 2.4 | 6 | ' |
Total Current Liabilities | 2.4 | 6 | ' |
Other noncurrent liabilities | 0 | 0.2 | ' |
Total Noncurrent Liabilities | $0 | $0.20 | ' |
Business_Restructuring_and_Cos2
Business Restructuring and Cost Reduction Plans (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |||||||||||
Restructuring and Related Cost [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans | $231.60 | [1] | $0 | [1] | $0 | [1] | $0 | [1] | $240.60 | [1] | $0 | [1] | $86.80 | [1] | $0 | [1] | $231.60 | [2] | $327.40 | [2] | $0 | [2] |
Plan 2013 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring and Related Cost [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans | 231.6 | ' | ' | ' | ' | ' | ' | ' | 231.6 | ' | ' | |||||||||||
Business restructuring and cost reduction plans, after-tax | 157.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans, per share | $0.74 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Plan 2013 [Member] | Merchant Gases [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring and Related Cost [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans | 61 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Plan 2013 [Member] | Tonnage Gases [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring and Related Cost [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans | 28.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Plan 2013 [Member] | Electronics and Performance Materials [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring and Related Cost [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans | 141 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Plan 2013 [Member] | Equipment and Energy [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring and Related Cost [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Plan 2013 [Member] | Asset Actions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring and Related Cost [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans | 100.4 | ' | ' | ' | ' | ' | ' | ' | 100.4 | ' | ' | |||||||||||
Plan 2013 [Member] | Severance And Other Benefits [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring and Related Cost [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans | 71.9 | ' | ' | ' | ' | ' | ' | ' | 71.9 | ' | ' | |||||||||||
Number of positions to be eliminated | 700 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Plan 2013 [Member] | Contract Actions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring and Related Cost [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans | ' | ' | ' | ' | ' | ' | ' | ' | 59.3 | ' | ' | |||||||||||
Plan 2013 [Member] | Contract Actions [Member] | Photovoltaic Market Actions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring and Related Cost [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans | 58.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Plan 2012 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring and Related Cost [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans | ' | ' | ' | ' | ' | ' | ' | ' | ' | 327.4 | ' | |||||||||||
Business restructuring and cost reduction plans, after-tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | 222.4 | ' | |||||||||||
Business restructuring and cost reduction plans, per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1.03 | ' | |||||||||||
Plan 2012 [Member] | Cost Reduction Plan [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring and Related Cost [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans | ' | ' | ' | ' | ' | ' | 86.8 | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans, after-tax | ' | ' | ' | ' | ' | ' | 60.6 | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans, per share | ' | ' | ' | ' | ' | ' | $0.28 | ' | ' | ' | ' | |||||||||||
Plan 2012 [Member] | Cost Reduction Plan [Member] | Merchant Gases [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring and Related Cost [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans | ' | ' | ' | ' | ' | ' | 77.3 | ' | ' | ' | ' | |||||||||||
Plan 2012 [Member] | Cost Reduction Plan [Member] | Tonnage Gases [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring and Related Cost [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans | ' | ' | ' | ' | ' | ' | 3.8 | ' | ' | ' | ' | |||||||||||
Plan 2012 [Member] | Cost Reduction Plan [Member] | Electronics and Performance Materials [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring and Related Cost [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans | ' | ' | ' | ' | ' | ' | 5.7 | ' | ' | ' | ' | |||||||||||
Plan 2012 [Member] | Photovoltaic Market Actions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring and Related Cost [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans | ' | ' | ' | ' | 186 | [3] | ' | ' | ' | ' | ' | ' | ||||||||||
Business restructuring and cost reduction plans, after-tax | ' | ' | ' | ' | 127 | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans, per share | ' | ' | ' | ' | $0.59 | ' | ' | ' | ' | ' | ' | |||||||||||
Plan 2012 [Member] | Polyurethane Intermediates Business Actions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring and Related Cost [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans | ' | ' | ' | ' | 54.6 | [4] | ' | ' | ' | ' | ' | ' | ||||||||||
Business restructuring and cost reduction plans, after-tax | ' | ' | ' | ' | 34.8 | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans, per share | ' | ' | ' | ' | $0.16 | ' | ' | ' | ' | ' | ' | |||||||||||
Proceeds from sale of assets and rights to contract | ' | ' | ' | ' | 32.7 | ' | ' | ' | ' | ' | ' | |||||||||||
Expense for asset write offs net of proceeds | ' | ' | ' | ' | 26.6 | ' | ' | ' | ' | ' | ' | |||||||||||
Plan 2012 [Member] | Asset Actions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring and Related Cost [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans | ' | ' | ' | ' | ' | ' | ' | ' | ' | 67.3 | ' | |||||||||||
Plan 2012 [Member] | Asset Actions [Member] | Cost Reduction Plan [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring and Related Cost [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans | ' | ' | ' | ' | ' | ' | 6 | ' | ' | ' | ' | |||||||||||
Plan 2012 [Member] | Asset Actions [Member] | Photovoltaic Market Actions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring and Related Cost [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans | ' | ' | ' | ' | 34.7 | ' | ' | ' | ' | ' | ' | |||||||||||
Plan 2012 [Member] | Asset Actions [Member] | Polyurethane Intermediates Business Actions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring and Related Cost [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans | ' | ' | ' | ' | 26.6 | [4] | ' | ' | ' | ' | ' | ' | ||||||||||
Plan 2012 [Member] | Severance And Other Benefits [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring and Related Cost [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans | ' | ' | ' | ' | ' | ' | ' | ' | ' | 83.5 | ' | |||||||||||
Plan 2012 [Member] | Severance And Other Benefits [Member] | Cost Reduction Plan [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring and Related Cost [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans | ' | ' | ' | ' | ' | ' | 80.8 | ' | ' | ' | ' | |||||||||||
Plan 2012 [Member] | Severance And Other Benefits [Member] | Photovoltaic Market Actions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring and Related Cost [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | |||||||||||
Plan 2012 [Member] | Severance And Other Benefits [Member] | Polyurethane Intermediates Business Actions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring and Related Cost [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans | ' | ' | ' | ' | 2.7 | ' | ' | ' | ' | ' | ' | |||||||||||
Plan 2012 [Member] | Contract Actions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring and Related Cost [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100 | ' | |||||||||||
Plan 2012 [Member] | Contract Actions [Member] | Cost Reduction Plan [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring and Related Cost [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | |||||||||||
Plan 2012 [Member] | Contract Actions [Member] | Photovoltaic Market Actions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring and Related Cost [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans | ' | ' | ' | ' | 93.5 | ' | ' | ' | ' | ' | ' | |||||||||||
Plan 2012 [Member] | Contract Actions [Member] | Polyurethane Intermediates Business Actions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring and Related Cost [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans | ' | ' | ' | ' | 6.5 | ' | ' | ' | ' | ' | ' | |||||||||||
Plan 2012 [Member] | Other Costs [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring and Related Cost [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans | ' | ' | ' | ' | ' | ' | ' | ' | ' | 76.6 | ' | |||||||||||
Plan 2012 [Member] | Other Costs [Member] | Cost Reduction Plan [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring and Related Cost [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | |||||||||||
Plan 2012 [Member] | Other Costs [Member] | Photovoltaic Market Actions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring and Related Cost [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans | ' | ' | ' | ' | 57.8 | [3] | ' | ' | ' | ' | ' | ' | ||||||||||
Plan 2012 [Member] | Other Costs [Member] | Polyurethane Intermediates Business Actions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring and Related Cost [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans | ' | ' | ' | ' | $18.80 | ' | ' | ' | ' | ' | ' | |||||||||||
[1] | For additional information, see Note 4, Business Restructuring and Cost Reduction Plans. | |||||||||||||||||||||
[2] | Information about how this charge related to the businesses at the segment level is discussed in Note 4, Business Restructuring and Cost Reduction Plans. | |||||||||||||||||||||
[3] | B B Other includes the write-down of inventory to its net realizable value, the write-down of accounts receivable, and expected losses on purchase | |||||||||||||||||||||
[4] | B B Charge is net of $32.7 in proceeds received in cash at closing for certain PUI assets and the rights to a supply contract. |
Business_Restructuring_and_Cos3
Business Restructuring and Cost Reduction Plans (Carrying Amount of Accrual) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Charge | $231.60 | [1] | $0 | [1] | $0 | [1] | $0 | [1] | $240.60 | [1] | $0 | [1] | $86.80 | [1] | $0 | [1] | $231.60 | [2] | $327.40 | [2] | $0 | [2] |
Plan 2013 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Charge | 231.6 | ' | ' | ' | ' | ' | ' | ' | 231.6 | ' | ' | |||||||||||
Amount reflected in pension liability | ' | ' | ' | ' | ' | ' | ' | ' | -6.9 | ' | ' | |||||||||||
Noncash expenses | ' | ' | ' | ' | ' | ' | ' | ' | -100.4 | ' | ' | |||||||||||
Cash expenditures | ' | ' | ' | ' | ' | ' | ' | ' | -61.5 | ' | ' | |||||||||||
Currency translation adjustment | ' | ' | ' | ' | ' | ' | ' | ' | 0.4 | ' | ' | |||||||||||
Accrued Balance | 63.2 | ' | ' | ' | ' | ' | ' | ' | 63.2 | ' | ' | |||||||||||
Plan 2013 [Member] | Severance And Other Benefits [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Charge | 71.9 | ' | ' | ' | ' | ' | ' | ' | 71.9 | ' | ' | |||||||||||
Amount reflected in pension liability | ' | ' | ' | ' | ' | ' | ' | ' | -6.9 | ' | ' | |||||||||||
Cash expenditures | ' | ' | ' | ' | ' | ' | ' | ' | -3 | ' | ' | |||||||||||
Currency translation adjustment | ' | ' | ' | ' | ' | ' | ' | ' | 0.4 | ' | ' | |||||||||||
Accrued Balance | 62.4 | ' | ' | ' | ' | ' | ' | ' | 62.4 | ' | ' | |||||||||||
Plan 2013 [Member] | Asset Actions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Charge | 100.4 | ' | ' | ' | ' | ' | ' | ' | 100.4 | ' | ' | |||||||||||
Noncash expenses | ' | ' | ' | ' | ' | ' | ' | ' | -100.4 | ' | ' | |||||||||||
Accrued Balance | 0 | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |||||||||||
Plan 2013 [Member] | Contract Actions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Charge | ' | ' | ' | ' | ' | ' | ' | ' | 59.3 | ' | ' | |||||||||||
Cash expenditures | ' | ' | ' | ' | ' | ' | ' | ' | -58.5 | ' | ' | |||||||||||
Accrued Balance | 0.8 | ' | ' | ' | ' | ' | ' | ' | 0.8 | ' | ' | |||||||||||
Plan 2013 [Member] | Contract Actions [Member] | Photovoltaic Market Actions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Charge | 58.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Plan 2012 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Charge | ' | ' | ' | ' | ' | ' | ' | ' | ' | 327.4 | ' | |||||||||||
Amount reflected in environmental liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | -9 | [3] | ' | ||||||||||
Amount reflected in pension liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7.5 | ' | |||||||||||
Noncash expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | -87 | ' | |||||||||||
Cash expenditures | ' | ' | ' | ' | ' | ' | ' | ' | -185.8 | -32.9 | ' | |||||||||||
Currency translation adjustment | ' | ' | ' | ' | ' | ' | ' | ' | 0.3 | -1.6 | ' | |||||||||||
Accrued Balance | 3.9 | ' | ' | ' | 189.4 | ' | ' | ' | 3.9 | 189.4 | ' | |||||||||||
Plan 2012 [Member] | Cost Reduction Plan [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Charge | ' | ' | ' | ' | ' | ' | 86.8 | ' | ' | ' | ' | |||||||||||
Plan 2012 [Member] | Photovoltaic Market Actions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Charge | ' | ' | ' | ' | 186 | [4] | ' | ' | ' | ' | ' | ' | ||||||||||
Plan 2012 [Member] | Polyurethane Intermediates Business Actions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Charge | ' | ' | ' | ' | 54.6 | [5] | ' | ' | ' | ' | ' | ' | ||||||||||
Plan 2012 [Member] | Severance And Other Benefits [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Charge | ' | ' | ' | ' | ' | ' | ' | ' | ' | 83.5 | ' | |||||||||||
Amount reflected in environmental liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | |||||||||||
Amount reflected in pension liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7.5 | ' | |||||||||||
Noncash expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | -0.4 | ' | |||||||||||
Cash expenditures | ' | ' | ' | ' | ' | ' | ' | ' | -40.4 | -32.8 | ' | |||||||||||
Currency translation adjustment | ' | ' | ' | ' | ' | ' | ' | ' | 0.3 | -1.6 | ' | |||||||||||
Accrued Balance | 1.1 | ' | ' | ' | 41.2 | ' | ' | ' | 1.1 | 41.2 | ' | |||||||||||
Plan 2012 [Member] | Severance And Other Benefits [Member] | Cost Reduction Plan [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Charge | ' | ' | ' | ' | ' | ' | 80.8 | ' | ' | ' | ' | |||||||||||
Plan 2012 [Member] | Severance And Other Benefits [Member] | Photovoltaic Market Actions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Charge | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | |||||||||||
Plan 2012 [Member] | Severance And Other Benefits [Member] | Polyurethane Intermediates Business Actions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Charge | ' | ' | ' | ' | 2.7 | ' | ' | ' | ' | ' | ' | |||||||||||
Plan 2012 [Member] | Asset Actions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Charge | ' | ' | ' | ' | ' | ' | ' | ' | ' | 67.3 | ' | |||||||||||
Amount reflected in environmental liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | |||||||||||
Amount reflected in pension liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | |||||||||||
Noncash expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | -67.3 | ' | |||||||||||
Cash expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | |||||||||||
Currency translation adjustment | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | |||||||||||
Accrued Balance | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | |||||||||||
Plan 2012 [Member] | Asset Actions [Member] | Cost Reduction Plan [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Charge | ' | ' | ' | ' | ' | ' | 6 | ' | ' | ' | ' | |||||||||||
Plan 2012 [Member] | Asset Actions [Member] | Photovoltaic Market Actions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Charge | ' | ' | ' | ' | 34.7 | ' | ' | ' | ' | ' | ' | |||||||||||
Plan 2012 [Member] | Asset Actions [Member] | Polyurethane Intermediates Business Actions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Charge | ' | ' | ' | ' | 26.6 | [5] | ' | ' | ' | ' | ' | ' | ||||||||||
Plan 2012 [Member] | Contract Actions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Charge | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100 | ' | |||||||||||
Amount reflected in environmental liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | |||||||||||
Amount reflected in pension liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | |||||||||||
Noncash expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | |||||||||||
Cash expenditures | ' | ' | ' | ' | ' | ' | ' | ' | -98.1 | 0 | ' | |||||||||||
Currency translation adjustment | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | |||||||||||
Accrued Balance | 1.9 | ' | ' | ' | 100 | ' | ' | ' | 1.9 | 100 | ' | |||||||||||
Plan 2012 [Member] | Contract Actions [Member] | Cost Reduction Plan [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Charge | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | |||||||||||
Plan 2012 [Member] | Contract Actions [Member] | Photovoltaic Market Actions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Charge | ' | ' | ' | ' | 93.5 | ' | ' | ' | ' | ' | ' | |||||||||||
Plan 2012 [Member] | Contract Actions [Member] | Polyurethane Intermediates Business Actions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Charge | ' | ' | ' | ' | 6.5 | ' | ' | ' | ' | ' | ' | |||||||||||
Plan 2012 [Member] | Other Costs [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Charge | ' | ' | ' | ' | ' | ' | ' | ' | ' | 76.6 | ' | |||||||||||
Amount reflected in environmental liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | -9 | [3] | ' | ||||||||||
Amount reflected in pension liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | |||||||||||
Noncash expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | -19.3 | ' | |||||||||||
Cash expenditures | ' | ' | ' | ' | ' | ' | ' | ' | -47.3 | -0.1 | ' | |||||||||||
Currency translation adjustment | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | |||||||||||
Accrued Balance | 0.9 | ' | ' | ' | 48.2 | ' | ' | ' | 0.9 | 48.2 | ' | |||||||||||
Plan 2012 [Member] | Other Costs [Member] | Cost Reduction Plan [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Charge | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | |||||||||||
Plan 2012 [Member] | Other Costs [Member] | Photovoltaic Market Actions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Charge | ' | ' | ' | ' | 57.8 | [4] | ' | ' | ' | ' | ' | ' | ||||||||||
Plan 2012 [Member] | Other Costs [Member] | Polyurethane Intermediates Business Actions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Charge | ' | ' | ' | ' | $18.80 | ' | ' | ' | ' | ' | ' | |||||||||||
[1] | For additional information, see Note 4, Business Restructuring and Cost Reduction Plans. | |||||||||||||||||||||
[2] | Information about how this charge related to the businesses at the segment level is discussed in Note 4, Business Restructuring and Cost Reduction Plans. | |||||||||||||||||||||
[3] | B B Reflected in accrual for environmental obligations. See Note 17, Commitments and Contingencies. | |||||||||||||||||||||
[4] | B B Other includes the write-down of inventory to its net realizable value, the write-down of accounts receivable, and expected losses on purchase | |||||||||||||||||||||
[5] | B B Charge is net of $32.7 in proceeds received in cash at closing for certain PUI assets and the rights to a supply contract. |
Business_Combinations_Narrativ
Business Combinations (Narrative) (Details) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Jun. 30, 2013 | Jun. 30, 2013 | Jul. 03, 2012 | Jul. 03, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Jul. 02, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Jul. 03, 2012 | Jul. 03, 2012 | Apr. 02, 2012 | Sep. 30, 2012 | ||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Indura [Member] | Indura [Member] | Indura [Member] | Indura [Member] | Indura [Member] | Indura [Member] | Indura [Member] | Indura [Member] | Indura [Member] | Indura [Member] | Indura [Member] | DANanoMaterials [Member] | DANanoMaterials [Member] | |||||
USD ($) | CLP | USD ($) | CLP | USD ($) | Debt Issuance Cost [Member] | Selling And Administrative Expense [Member] | Customer Relationships [Member] | Trade names and trademarks [Member] | USD ($) | USD ($) | ||||||||||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | |||||||||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Percentage of shares purchased | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 64.80% | ' | ' | ' | ' | 50.00% | ' | ||||
Percentage of results consolidated | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Cash consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $690 | 345,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Acquired debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 227 | 113,800 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Additional equity interest committed to purchase | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Agreement to purchase additional equity interest under put option | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30.50% | 30.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Put option exercise period start date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 July 2015 | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Put option exercise period beginning 1 July 2015 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 years | '2 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Payment for additional shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11 | 5,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Current ownership percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 67.20% | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Acquisition related costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11.4 | ' | 4.9 | 6.5 | ' | ' | ' | ' | ||||
Allocation to plant and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 397.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Allocation to identified intangibles | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 382.1 | ' | ' | ' | ' | ' | ' | 287.8 | 92.6 | ' | ' | ||||
Intangibles useful life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '23 years | ' | ' | ' | ||||
Allocation to goodwill | 68 | ' | ' | ' | ' | ' | ' | ' | 68 | ' | ' | ' | ' | 626.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Goodwill deductible for tax purposes | 0 | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Sales | 2,586.50 | 2,547.30 | 2,484.20 | 2,562.40 | 2,605.80 | 2,340.10 | 2,344.30 | 2,321.50 | 10,180.40 | 9,611.70 | 9,673.70 | ' | ' | ' | ' | ' | 140 | ' | ' | ' | ' | ' | ' | ' | ||||
Net income (loss) attributable to parent | 137.1 | 288.4 | 290.4 | 278.3 | 138.7 | 484.5 | 296 | 248.1 | 994.2 | 1,167.30 | 1,224.20 | ' | ' | ' | ' | ' | -7.6 | ' | ' | ' | ' | ' | ' | ' | ||||
Non-cash charge related to Chilean tax rate change | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14.1 | ' | ' | ' | ' | ' | ' | ' | ||||
Purchase price of acquired entity | 233 | ' | ' | ' | ' | ' | ' | ' | 233 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 158 | ' | ||||
Acquisitions, less cash acquired | ' | ' | ' | ' | ' | ' | ' | ' | 224.9 | 863.4 | 10.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 147 | ' | ||||
Cash acquired from acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11 | ' | ||||
Previous percent ownership | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ||||
Fair value of previously held equity interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 120 | ' | ||||
Gain on previously held equity interest | ' | ' | ' | ' | 0 | [1] | 85.9 | [1] | 0 | [1] | 0 | [1] | 0 | 85.9 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 85.9 |
Gain on previously held equity interest, after tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $54.60 | ||||
Gain on previously held equity interest, per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.25 | ||||
[1] | For additional information, see Note 5, Business Combinations. |
Business_Combinations_Purchase
Business Combinations (Purchase Price Allocation) (Details) (USD $) | Sep. 30, 2013 | Jul. 03, 2012 | |
In Millions, unless otherwise specified | Indura [Member] | ||
Business Acquisition [Line Items] | ' | ' | |
Trade receivables, net | ' | $131.20 | |
Inventories | ' | 103.5 | |
Other current assets and (liabilities) | ' | -67.5 | [1] |
Plant and equipment | ' | 397.2 | |
Intangible assets | ' | 382.1 | |
Current portion of long-term debt and short-term borrowings | ' | -70.8 | |
Long-term debt | ' | -279.8 | |
Deferred income taxes | ' | -131.3 | |
Other noncurrent assets and (liabilities) | ' | -12.3 | |
Fair Value of Identifiable Net Assets Acquired | ' | 452.3 | |
Goodwill | 68 | 626.2 | |
Noncontrolling interests (including redeemable noncontrolling interest) | ' | -388.9 | |
Total | ' | $689.60 | |
[1] | Includes cash and cash items, prepaid expenses, other current assets, payables and accrued liabilities, and other current liabilities |
Business_Combinations_Proforma
Business Combinations (Pro-forma impact of the acquisition) (Details) (USD $) | 12 Months Ended | |
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2012 | Sep. 30, 2011 |
Business Acquisition, Pro Forma Information [Abstract] | ' | ' |
Sales | $9,952.30 | $10,144.20 |
Net Income | 1,039 | 1,181.90 |
Net income - Attributable to Air Products | $1,008.60 | $1,137.50 |
Basic Earnings per Common Share Attributable to Air Products | $4.78 | $5.34 |
Diluted Earnings per Common Share Attributable to Air Products | $4.70 | $5.23 |
Airgas_Transaction_Narratives_
Airgas Transaction (Narratives) (Details) (USD $) | 5 Months Ended | 12 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Feb. 16, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Airgas Transaction [Abstract] | ' | ' | ' | ' |
Number of shares purchased prior to tender offer | 1.5 | ' | ' | ' |
Cost of stock purchased prior to tender offer | $69.60 | ' | ' | ' |
Number of shares sold | 1.5 | ' | ' | ' |
Proceeds from sale of Airgas stock | 94.7 | 0 | 0 | 94.7 |
Recognized gain on sale of stock | 25.1 | ' | ' | ' |
Recognized gain on sale of stock, after tax | 15.9 | ' | ' | ' |
Recognized gain on sale of stock, per share | $0.07 | ' | ' | ' |
Net loss on Airgas transaction | ' | 0 | 0 | 48.5 |
Net loss on Airgas transaction, after-tax | ' | ' | ' | 31.6 |
Net loss on Airgas transaction, per share | ' | ' | ' | $0.14 |
Payment of acquisition-related costs | ' | $0 | $0 | $156.20 |
Inventories_Narratives_Details
Inventories (Narratives) (Details) | Sep. 30, 2013 | Sep. 30, 2012 |
Inventory Disclosure [Abstract] | ' | ' |
Percentage of LIFO Inventory | 36.40% | 35.60% |
Inventories_Schedule_of_Invent
Inventories (Schedule of Inventory) (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Inventories [Abstract] | ' | ' |
Finished goods | $527.30 | $617.90 |
Work in process | 38.7 | 36.7 |
Raw materials, supplies and other | 234.9 | 220 |
Total FIFO value | 800.9 | 874.6 |
Less: Excess of FIFO cost over LIFO cost | -94.8 | -88 |
Inventories | $706.10 | $786.60 |
Summarized_Financial_Informati2
Summarized Financial Information of Equity Affiliates (Narratives) (Details) | 1 Months Ended | 12 Months Ended | |||||||||||||||||||||
In Millions, unless otherwise specified | 29-May-12 | 29-May-12 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | 29-May-12 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
USD ($) | SAR | USD ($) | USD ($) | USD ($) | EquityMethodInvestmentsMember | Abdullah Hashim Industrial Gas & Equipment Co. Ltd [Member] | Abdullah Hashim Industrial Gas & Equipment Co. Ltd [Member] | Air Products South Africa (Proprietary) Limited [Member] | Bangkok Cogeneration Company Limited [Member] | Bangkok Industrial Gases Co., Ltd. [Member] | Chengdu Air & Gas Products Ltd. [Member] | Daido Air Products Electronics, Inc. [Member] | Helap Sa [Member] | High-Tech Gases (Beijing) Co., Ltd. [Member] | INFRA Group [Member] | INOX Air Products Limited [Member] | Kulim Industrial Gases Sdn. Bhd. [Member] | Sapio Produzione Idrogeno Ossigeno Srl [Member] | SembCorp Air Products (HyCo) Pte. Ltd. [Member] | Tecnologia En Nitrogeno S De Rl De Cv [Member] | Tyczka Industrie-Gases GmbH [Member] | WuXi Hi-Tech Gas Co., Ltd. [Member] | |
USD ($) | |||||||||||||||||||||||
Schedule of Equity Method Investment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to acquire interest in affiliates | $155 | 581.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment in foreign affiliates | ' | ' | 1,191.30 | 1,171 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total goodwill associated with affiliate companies accounted for by equity method | ' | ' | 1,653.80 | 1,598.40 | 796.2 | 126.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ownership interest percentage acquired | ' | ' | ' | ' | ' | ' | 25.00% | 25.00% | 50.00% | 49.00% | 49.00% | 50.00% | 20.00% | 50.00% | 50.00% | 40.00% | 50.00% | 50.00% | 49.00% | 40.00% | 50.00% | 50.00% | 50.00% |
Dividends received from equity affiliates | ' | ' | $108.60 | $89 | $105.90 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Summarized_Financial_Informati3
Summarized Financial Information of Equity Affiliates (Investment Listing) (Details) | Sep. 30, 2013 | 29-May-12 |
Abdullah Hashim Industrial Gas & Equipment Co. Ltd [Member] | ' | ' |
Schedule of Equity Method Investment [Line Items] | ' | ' |
Ownership interest percentage acquired | 25.00% | 25.00% |
Air Products South Africa (Proprietary) Limited [Member] | ' | ' |
Schedule of Equity Method Investment [Line Items] | ' | ' |
Ownership interest percentage acquired | 50.00% | ' |
Bangkok Cogeneration Company Limited [Member] | ' | ' |
Schedule of Equity Method Investment [Line Items] | ' | ' |
Ownership interest percentage acquired | 49.00% | ' |
Bangkok Industrial Gases Co., Ltd. [Member] | ' | ' |
Schedule of Equity Method Investment [Line Items] | ' | ' |
Ownership interest percentage acquired | 49.00% | ' |
Chengdu Air & Gas Products Ltd. [Member] | ' | ' |
Schedule of Equity Method Investment [Line Items] | ' | ' |
Ownership interest percentage acquired | 50.00% | ' |
Daido Air Products Electronics, Inc. [Member] | ' | ' |
Schedule of Equity Method Investment [Line Items] | ' | ' |
Ownership interest percentage acquired | 20.00% | ' |
Helap S.A. [Member] | ' | ' |
Schedule of Equity Method Investment [Line Items] | ' | ' |
Ownership interest percentage acquired | 50.00% | ' |
High-Tech Gases (Beijing) Co., Ltd. [Member] | ' | ' |
Schedule of Equity Method Investment [Line Items] | ' | ' |
Ownership interest percentage acquired | 50.00% | ' |
INFRA Group [Member] | ' | ' |
Schedule of Equity Method Investment [Line Items] | ' | ' |
Ownership interest percentage acquired | 40.00% | ' |
INOX Air Products Limited [Member] | ' | ' |
Schedule of Equity Method Investment [Line Items] | ' | ' |
Ownership interest percentage acquired | 50.00% | ' |
Kulim Industrial Gases Sdn. Bhd. [Member] | ' | ' |
Schedule of Equity Method Investment [Line Items] | ' | ' |
Ownership interest percentage acquired | 50.00% | ' |
Sapio Produzione Idrogeno Ossigeno S.r.l. [Member] | ' | ' |
Schedule of Equity Method Investment [Line Items] | ' | ' |
Ownership interest percentage acquired | 49.00% | ' |
SembCorp Air Products (HyCo) Pte. Ltd. [Member] | ' | ' |
Schedule of Equity Method Investment [Line Items] | ' | ' |
Ownership interest percentage acquired | 40.00% | ' |
Tecnologia en Nitrogeno S. de R.L. de C.V. [Member] | ' | ' |
Schedule of Equity Method Investment [Line Items] | ' | ' |
Ownership interest percentage acquired | 50.00% | ' |
Tyczka Industrie-Gases GmbH [Member] | ' | ' |
Schedule of Equity Method Investment [Line Items] | ' | ' |
Ownership interest percentage acquired | 50.00% | ' |
WuXi Hi-Tech Gas Co., Ltd. [Member] | ' | ' |
Schedule of Equity Method Investment [Line Items] | ' | ' |
Ownership interest percentage acquired | 50.00% | ' |
Summarized_Financial_Informati4
Summarized Financial Information of Equity Affiliates (Table Of Summarized Financial Information Of Equity Affiliates) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Equity Method Investments and Joint Ventures [Abstract] | ' | ' | ' |
Current assets | $1,307.90 | $1,232.90 | ' |
Noncurrent assets | 2,396.10 | 2,225.30 | ' |
Current liabilities | 795.2 | 726.6 | ' |
Noncurrent liabilities | 648.6 | 523.9 | ' |
Net sales | 2,845.90 | 2,675.30 | 2,650.50 |
Sales less cost of sales | 1,003.30 | 937 | 987.2 |
Operating income | 547.3 | 529.7 | 537 |
Net income | $360.50 | $347.60 | $351.30 |
Plant_and_Equipment_net_Narrat
Plant and Equipment, net (Narratives) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Property, Plant and Equipment [Abstract] | ' | ' | ' |
Depreciation | $864.70 | $813.70 | $811.70 |
Plant_and_Equipment_net_Major_
Plant and Equipment, net (Major Classes of Plant and Equipment) (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | ||||||||||||||||||||
In Millions, unless otherwise specified | Cylinders [Member] | Cylinders [Member] | Tank [Member] | Customer Station [Member] | Tractor Trailer [Member] | Tractor Trailer [Member] | Land [Member] | Land [Member] | Building [Member] | Building [Member] | Production Facility [Member] | Production Facility [Member] | Production Facility [Member] | Production Facility [Member] | Production Facility [Member] | Production Facility [Member] | Production Facility [Member] | Production Facility [Member] | Production Facility [Member] | Production Facility [Member] | Production Facility [Member] | Production Facility [Member] | Production Facility [Member] | Production Facility [Member] | Production Facility [Member] | Production Facility [Member] | Distribution equipment | Distribution equipment | Distribution equipment | Distribution equipment | Other Machinery and Equipment [Member] | Other Machinery and Equipment [Member] | Other Machinery and Equipment [Member] | Other Machinery and Equipment [Member] | Construction in Progress [Member] | Construction in Progress [Member] | |||||||||||||||||||||||
Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Merchant Gases [Member] | Merchant Gases [Member] | Tonnage Gases [Member] | Tonnage Gases [Member] | Tonnage Gases [Member] | Tonnage Gases [Member] | Electronics and Performance Materials [Member] | Electronics and Performance Materials [Member] | Electronics and Performance Materials [Member] | Electronics and Performance Materials [Member] | Equipment and Energy [Member] | Equipment and Energy [Member] | Equipment and Energy [Member] | Equipment and Energy [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||||
Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||
Plant and Equipment, at cost | $19,529.90 | $18,046.20 | ' | ' | ' | ' | ' | ' | ' | $240.50 | $215.80 | $1,076.30 | $1,032.80 | $13,244.70 | [1] | $12,333.10 | [1] | $4,109.10 | [1] | $3,552.90 | [1] | $6,769.30 | [1] | $6,583.70 | [1] | ' | ' | $2,193.90 | [1] | $2,022.60 | [1] | ' | ' | $172.40 | [1] | $173.90 | [1] | ' | ' | $3,280.60 | [2] | $3,133.70 | [2] | ' | ' | $393.80 | $310.70 | ' | ' | $1,294 | $1,020.10 | ||||||||
Less: accumulated depreciation | 10,555.90 | 9,805.60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||
Plant and equipment, net | $8,974 | $8,240.60 | $7,222.70 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||
Average useful life | ' | ' | ' | '10 years | '25 years | '20 years | '7 years 6 months | '5 years | '15 years | ' | ' | '30 years | ' | ' | ' | '15 years | [1] | ' | ' | ' | '15 years | [1] | '20 years | [1] | ' | ' | '10 years | [1] | '15 years | [1] | ' | ' | '5 years | [1] | '20 years | [1] | ' | ' | '5 years | [2] | '25 years | [2] | ' | ' | '10 years | '25 years | ' | ' | |||||||||||
[1] | B B Depreciable lives of production facilities related to long-term customer supply contracts are matched to the contract lives. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | B B The depreciable lives for various types of distribution equipment are 10 to 25 years for cylinders, depending on the nature and properties of the product; 20 years for tanks; 7.5 years for customer stations; and 5 to 15 years for tractors and trailers. |
Intangible_Assets_Narratives_D
Intangible Assets (Narratives) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' | ' |
Amortization of Intangible Assets | $42.30 | $27.10 | $22.60 |
Goodwill_Schedule_of_Goodwill_
Goodwill (Schedule of Goodwill by Segment) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Goodwill [Line Items] | ' | ' |
Goodwill, Beginning Balance | $1,598.40 | $796.20 |
Goodwill, Acquisitions and Adjustments | 75.3 | 765.4 |
Goodwill, Currency Translation and Other | -19.9 | 36.8 |
Goodwill, Ending Balance | 1,653.80 | 1,598.40 |
Merchant Gases [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Goodwill, Beginning Balance | 1,138.60 | 479.2 |
Goodwill, Acquisitions and Adjustments | 73.3 | 630 |
Goodwill, Currency Translation and Other | -19.9 | 29.4 |
Goodwill, Ending Balance | 1,192 | 1,138.60 |
Tonnage Gases [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Goodwill, Beginning Balance | 14.7 | 14.1 |
Goodwill, Acquisitions and Adjustments | 0 | 0 |
Goodwill, Currency Translation and Other | 0.5 | 0.6 |
Goodwill, Ending Balance | 15.2 | 14.7 |
Electronics and Performance Materials [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Goodwill, Beginning Balance | 445.1 | 302.9 |
Goodwill, Acquisitions and Adjustments | 2 | 135.4 |
Goodwill, Currency Translation and Other | -0.5 | 6.8 |
Goodwill, Ending Balance | $446.60 | $445.10 |
Intangible_Assets_Acquired_Int
Intangible Assets (Acquired Intangible Assets) (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Intangible Assets (Excluding Goodwill) [Abstract] | ' | ' |
Intangible assets, gross | $902.60 | $975.10 |
Intangible assets, net | 717.3 | 761.6 |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Accumulated amortization | -185.3 | -213.5 |
Finite-lived intangible assets, net | 626.7 | ' |
Trade names and trademarks [Member] | ' | ' |
Acquired Indefinite-Lived Intangible Assets [Line Items] | ' | ' |
Indefinite-lived intangible assets | 90.6 | 97.7 |
Customer Relationships [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Finite-lived intangible assets, gross | 629.2 | 665.3 |
Accumulated amortization | -97.3 | -93.1 |
Finite-lived intangible assets, net | 531.9 | 572.2 |
Patented Technology [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Finite-lived intangible assets, gross | 91.3 | 129.8 |
Accumulated amortization | -52.1 | -82 |
Finite-lived intangible assets, net | 39.2 | 47.8 |
Other Intangible Assets [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Finite-lived intangible assets, gross | 91.5 | 82.3 |
Accumulated amortization | -35.9 | -38.4 |
Finite-lived intangible assets, net | $55.60 | $43.90 |
Intangible_Assets_Projected_An
Intangible Assets (Projected Annual Amortization Expense for Intangible Assets) (Details) (USD $) | Sep. 30, 2013 |
In Millions, unless otherwise specified | |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | ' |
2014 | $41.90 |
2015 | 40.1 |
2016 | 38 |
2017 | 36.6 |
2018 | 34.8 |
Thereafter | 435.3 |
Total future amortization expense | $626.70 |
Leases_Narratives_Details
Leases (Narratives) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Leases [Abstract] | ' | ' | ' |
Capital Leases | $19.80 | $13.60 | ' |
Capital lease accumulated depreciation | 8.5 | 8.8 | ' |
Operating leases, rent expense | 98.6 | 91.1 | 90.5 |
Lease payments collected | $120 | $103 | $84.60 |
Leases_Minimum_Payments_Due_De
Leases (Minimum Payments Due) (Details) (USD $) | Sep. 30, 2013 |
In Millions, unless otherwise specified | |
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | ' |
2014 | $0.50 |
2015 | 0.5 |
2016 | 0.3 |
2017 | 0.3 |
2018 | 0.2 |
Thereafter | 0 |
Total | 1.8 |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | ' |
2014 | 68.6 |
2015 | 49.9 |
2016 | 36.5 |
2017 | 24.7 |
2018 | 19.7 |
Thereafter | 86.1 |
Total | $285.50 |
Leases_Lease_Receivables_Detai
Leases (Lease Receivables) (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Leases [Abstract] | ' | ' |
Gross minimum lease payments receivable | $2,253.20 | $2,134.60 |
Unearned interest income | -709.1 | -743.7 |
Lease Receivables, net | $1,544.10 | $1,390.90 |
Leases_Minimum_Lease_Payments_
Leases (Minimum Lease Payments Receivable) (Details) (USD $) | Sep. 30, 2013 |
In Millions, unless otherwise specified | |
Capital Leases, Future Minimum Payments Receivable, Fiscal Year Maturity [Abstract] | ' |
2014 | $136.10 |
2015 | 172.6 |
2016 | 180 |
2017 | 178.6 |
2018 | 177.3 |
Thereafter | 1,408.60 |
Total | $2,253.20 |
Financial_Instruments_Narrativ
Financial Instruments (Narrative) (Details) | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 |
In Millions, unless otherwise specified | USD ($) | USD ($) | Foreign Currency Debt [Member] | Foreign Currency Debt [Member] | Foreign Currency Debt [Member] | Foreign Currency Debt [Member] | Forward Exchange Contracts [Member] | Interest rate management contract [Member] |
USD ($) | EUR (€) | USD ($) | EUR (€) | |||||
Derivative [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Notional Amount included in designated foreign currency denominated debt | ' | ' | $1,228.40 | € 908.30 | $1,142.20 | € 888.20 | ' | ' |
Maximum Remaining Maturity of Foreign Currency Derivatives | ' | ' | ' | ' | ' | ' | '3 years 2 months | ' |
Maximum length of time of hedged exposures, years | ' | ' | ' | ' | ' | ' | ' | '1 year 5 months |
Net liability position of derivatives with credit risk-related contingent features | 10 | 13.8 | ' | ' | ' | ' | ' | ' |
Collateral amount that counterparties would be required to post | $80.60 | $90.10 | ' | ' | ' | ' | ' | ' |
Financial_Instruments_Schedule
Financial Instruments (Schedule of Outstanding Currency Price Risk Management Instruments) (Details) (Forward Exchange Contracts [Member], USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Derivative [Line Items] | ' | ' |
US$ Notional | $4,637.10 | $2,605.70 |
Years Average Maturity | '12 months | '12 months |
Cash Flow Hedges [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
US$ Notional | 2,653.40 | 1,348.80 |
Years Average Maturity | '7 months | '7 months |
Net Investment Hedges [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
US$ Notional | 1,231.80 | 779.2 |
Years Average Maturity | '2 years 5 months | '2 years 6 months |
Hedges Not Designated [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
US$ Notional | $751.90 | $477.70 |
Years Average Maturity | '1 month | '1 month |
Financial_Instruments_Schedule1
Financial Instruments (Schedule of Interest Rate Swaps and Cross Currency Interest Rate Swaps) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Interest Rate Swaps Contracts [Member] | Fair Value Hedges [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
US$ Notional | $300 | $450 |
Pay % | 'LIBOR | 'LIBOR |
Average Receive % | 3.61% | 3.23% |
Years Average Maturity | '5 years 11 months | '4 years 8 months |
Interest Rate Swaps Contracts [Member] | Cash Flow Hedges [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
US$ Notional | 52.8 | 452.8 |
Pay % | 6.84% | 2.75% |
Average Receive % | 5.64% | ' |
Average Receive % | ' | 'Various |
Years Average Maturity | '1 year 5 months | '0 years 7 months |
Cross Currency Interest Rate Swaps [Member] | Net Investment Hedges [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
US$ Notional | 310.8 | 243.5 |
Pay % | 3.87% | 3.95% |
Average Receive % | 0.72% | 0.96% |
Years Average Maturity | '2 years 5 months | '3 years 2 months |
Cross Currency Interest Rate Swaps [Member] | Cash Flow Hedges [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
US$ Notional | $169.30 | $0 |
Pay % | 3.48% | 0.00% |
Average Receive % | 2.53% | 0.00% |
Years Average Maturity | '4 years 10 months | '0 years 0 months |
Financial_Instruments_Fair_Val
Financial Instruments (Fair Value of Derivative Instruments) (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Derivative [Line Items] | ' | ' |
Total Derivatives, Assets | $125.90 | $127.60 |
Total Derivatives, Liabilities | 41.3 | 46.8 |
Designated as Hedging Instrument [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total Derivatives, Assets | 116.3 | 126.7 |
Total Derivatives, Liabilities | 39.8 | 44.6 |
Designated as Hedging Instrument [Member] | Other Receivables [Member] | Interest rate management contract [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total Derivatives, Assets | 0 | 1.1 |
Designated as Hedging Instrument [Member] | Other Receivables [Member] | Forward Exchange Contracts [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total Derivatives, Assets | 52.2 | 12.7 |
Designated as Hedging Instrument [Member] | Other Noncurrent Assets [Member] | Interest rate management contract [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total Derivatives, Assets | 35.4 | 48.6 |
Designated as Hedging Instrument [Member] | Other Noncurrent Assets [Member] | Forward Exchange Contracts [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total Derivatives, Assets | 28.7 | 64.3 |
Designated as Hedging Instrument [Member] | Accrued Liabilities [Member] | Interest rate management contract [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total Derivatives, Liabilities | 3.5 | 15.6 |
Designated as Hedging Instrument [Member] | Accrued Liabilities [Member] | Forward Exchange Contracts [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total Derivatives, Liabilities | 22.5 | 17 |
Designated as Hedging Instrument [Member] | Other Noncurrent Liabilities [Member] | Interest rate management contract [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total Derivatives, Liabilities | 6.1 | 9.5 |
Designated as Hedging Instrument [Member] | Other Noncurrent Liabilities [Member] | Forward Exchange Contracts [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total Derivatives, Liabilities | 7.7 | 2.5 |
Hedges Not Designated [Member] | Other Receivables [Member] | Forward Exchange Contracts [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total Derivatives, Assets | 9.6 | 0.9 |
Hedges Not Designated [Member] | Accrued Liabilities [Member] | Forward Exchange Contracts [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total Derivatives, Liabilities | $1.50 | $2.20 |
Financial_Instruments_Schedule2
Financial Instruments (Schedule of Gain/Loss Related to Derivative Instruments) (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | ||
Cash Flow Hedges [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Net gain (loss) recognized in OCI (effective portion) | $35 | ($21.80) | ||
Net (gain) loss reclassified from OCI to sales/cost of sales (effective portion) | 1 | 1.3 | ||
Net (gain) loss reclassified from OCI to other income, net (effective portion) | -21.5 | 9.6 | ||
Net (gain) loss reclassified from OCI to interest expense (effective portion) | 0.3 | 1.2 | ||
Net (gain) loss reclassified from OCI to other income, net (ineffective portion) | 0 | 0.3 | ||
Cash Flow Hedges [Member] | Forward Exchange Contracts [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Net gain (loss) recognized in OCI (effective portion) | 24.6 | -14.2 | ||
Net (gain) loss reclassified from OCI to sales/cost of sales (effective portion) | 1 | 1.3 | ||
Net (gain) loss reclassified from OCI to other income, net (effective portion) | -23.9 | 9.6 | ||
Net (gain) loss reclassified from OCI to interest expense (effective portion) | -0.4 | -0.2 | ||
Net (gain) loss reclassified from OCI to other income, net (ineffective portion) | 0 | 0.3 | ||
Cash Flow Hedges [Member] | Other Contracts [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Net gain (loss) recognized in OCI (effective portion) | 10.4 | [1] | -7.6 | [1] |
Net (gain) loss reclassified from OCI to sales/cost of sales (effective portion) | 0 | [1] | 0 | [1] |
Net (gain) loss reclassified from OCI to other income, net (effective portion) | 2.4 | [1] | 0 | [1] |
Net (gain) loss reclassified from OCI to interest expense (effective portion) | 0.7 | [1] | 1.4 | [1] |
Net (gain) loss reclassified from OCI to other income, net (ineffective portion) | 0 | [1] | 0 | [1] |
Fair Value Hedges [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Net (gain) loss recognized in interest expense | -19.8 | [2] | 5.8 | [2] |
Fair Value Hedges [Member] | Forward Exchange Contracts [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Net (gain) loss recognized in interest expense | 0 | [2] | 0 | [2] |
Fair Value Hedges [Member] | Other Contracts [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Net (gain) loss recognized in interest expense | -19.8 | [1],[2] | 5.8 | [1],[2] |
Net Investment Hedges [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Net gain (loss) recognized in OCI | -51.2 | 34.3 | ||
Net Investment Hedges [Member] | Forward Exchange Contracts [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Net gain (loss) recognized in OCI | -15.3 | 25 | ||
Net Investment Hedges [Member] | Foreign Currency Debt [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Net gain (loss) recognized in OCI | -37.7 | 11.4 | ||
Net Investment Hedges [Member] | Other Contracts [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Net gain (loss) recognized in OCI | 1.8 | [1] | -2.1 | [1] |
Hedges Not Designated [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Net gain (loss) recognized in net income (loss) | 5.3 | [3] | -2.4 | [3] |
Hedges Not Designated [Member] | Forward Exchange Contracts [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Net gain (loss) recognized in net income (loss) | $5.30 | [3] | ($2.40) | [3] |
[1] | Other includes the impact on other comprehensive income (OCI) and earnings primarily related to interest rate swaps. | |||
[2] | The impact of fair value hedges noted above was largely offset by gains and losses resulting from the impact of changes in related interest rates on recognized outstanding debt. | |||
[3] | The impact of the non-designated hedges noted above was largely offset by gains and losses, respectively, resulting from the impact of changes in exchange rates on recognized assets and liabilities denominated in nonfunctional currencies. |
Fair_Value_Measurements_Schedu
Fair Value Measurements (Schedule of the Carrying Values and Fair Values of Financial Instruments) (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term debt, including current portion carrying value | $5,563.70 | $4,658.50 |
Carrying Value [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term debt, including current portion carrying value | 5,563.70 | 4,658.50 |
Fair Value [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term debt, including current portion fair value | 5,804.10 | 5,005.90 |
Interest rate management contract [Member] | Carrying Value [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Derivative assets | 35.4 | 49.7 |
Derivative liabilities | 9.6 | 25.1 |
Interest rate management contract [Member] | Fair Value [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Derivative assets | 35.4 | 49.7 |
Derivative liabilities | 9.6 | 25.1 |
Forward Exchange Contracts [Member] | Carrying Value [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Derivative assets | 90.5 | 77.9 |
Derivative liabilities | 31.7 | 21.7 |
Forward Exchange Contracts [Member] | Fair Value [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Derivative assets | 90.5 | 77.9 |
Derivative liabilities | $31.70 | $21.70 |
Fair_Value_Measurements_Schedu1
Fair Value Measurements (Schedule of Fair Value of Assets and Liabilities) (Details) (Fair Value [Member], USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Total Assets at Fair Value | $125.90 | $127.60 |
Total Liabilities at Fair Value | 41.3 | 46.8 |
Level 2 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Total Assets at Fair Value | 125.9 | 127.6 |
Total Liabilities at Fair Value | 41.3 | 46.8 |
Interest rate management contract [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Derivative assets | 35.4 | 49.7 |
Derivative liabilities | 9.6 | 25.1 |
Interest rate management contract [Member] | Level 2 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Derivative assets | 35.4 | 49.7 |
Derivative liabilities | 9.6 | 25.1 |
Forward Exchange Contracts [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Derivative assets | 90.5 | 77.9 |
Derivative liabilities | 31.7 | 21.7 |
Forward Exchange Contracts [Member] | Level 2 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Derivative assets | 90.5 | 77.9 |
Derivative liabilities | $31.70 | $21.70 |
Fair_Value_Measurements_Schedu2
Fair Value Measurements (Schedule of Non-recurring Fair Value Measurements Of Long-Lived Assets Held For Sale) (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 | ||
In Millions, unless otherwise specified | ||||
Cost Reduction Plan [Member] | ' | ' | ||
Long Lived Assets Held-for-sale [Line Items] | ' | ' | ||
Long-lived assets held for sale, Fair Value | $10.80 | [1] | $2.20 | [1] |
Long-lived assets held for sale, Total Loss | 11.9 | [1] | 6 | [1] |
Discontinued Operation Long Lived Asset [Member] | ' | ' | ||
Long Lived Assets Held-for-sale [Line Items] | ' | ' | ||
Long-lived assets held for sale, Fair Value | 0 | [2] | 27.2 | [2] |
Long-lived assets held for sale, Total Loss | 18.7 | [2] | 33.5 | [2] |
Level 1 [Member] | Cost Reduction Plan [Member] | ' | ' | ||
Long Lived Assets Held-for-sale [Line Items] | ' | ' | ||
Long-lived assets held for sale, Fair Value | 0 | [1] | 0 | [1] |
Level 1 [Member] | Discontinued Operation Long Lived Asset [Member] | ' | ' | ||
Long Lived Assets Held-for-sale [Line Items] | ' | ' | ||
Long-lived assets held for sale, Fair Value | 0 | [2] | 0 | [2] |
Level 2 [Member] | Cost Reduction Plan [Member] | ' | ' | ||
Long Lived Assets Held-for-sale [Line Items] | ' | ' | ||
Long-lived assets held for sale, Fair Value | 0 | [1] | 0 | [1] |
Level 2 [Member] | Discontinued Operation Long Lived Asset [Member] | ' | ' | ||
Long Lived Assets Held-for-sale [Line Items] | ' | ' | ||
Long-lived assets held for sale, Fair Value | 0 | [2] | 0 | [2] |
Level 3 [Member] | Cost Reduction Plan [Member] | ' | ' | ||
Long Lived Assets Held-for-sale [Line Items] | ' | ' | ||
Long-lived assets held for sale, Fair Value | 10.8 | [1] | 2.2 | [1] |
Level 3 [Member] | Discontinued Operation Long Lived Asset [Member] | ' | ' | ||
Long Lived Assets Held-for-sale [Line Items] | ' | ' | ||
Long-lived assets held for sale, Fair Value | $0 | [2] | $27.20 | [2] |
[1] | In conjunction with the 2013 and 2012 business restructuring and cost reduction plans, long-lived assets held for sale were written down to fair value, and the loss was included in the respective charges. For additional information, see Note 4, Business Restructuring and Cost Reduction Plans. We quantified the fair value of the assets held for sale using a market approach, based on prices for other market transactions involving comparable assets and our assessment of value considering our knowledge of the markets. | |||
[2] | During 2013 and 2012, impairment charges were recorded for the remaining assets of the Homecare business to reflect their estimated net realizable value. For additional information, see Note 3, Discontinued Operations. We utilized a market approach to determine the fair value based on our current assessment of the markets for these assets. |
Debt_Narratives_Details
Debt (Narratives) (Details) | 12 Months Ended | 7 Months Ended | 12 Months Ended | 7 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Apr. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Apr. 30, 2013 | Apr. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Feb. 04, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Aug. 07, 2013 | Aug. 07, 2013 | Sep. 30, 2013 |
USD ($) | USD ($) | USD ($) | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Foreign Subsidiary Facility [Member] | Chinese Renminbi (RMB) Syndicated Credit Facility [Member] | Chinese Renminbi (RMB) Syndicated Credit Facility [Member] | Senior Note 2.75% | Senior Note 2.75% | Senior Note 2.75% | Senior Note 2.75% | Eurobonds 2.0% | Eurobonds 2.0% | Eurobonds 2.0% | Eurobonds 2.0% | Eurobonds 2.0% | Commercial Paper [Member] | |
Credit Agreement 2013 Member [Member] | Credit Agreement 2013 Member [Member] | Credit Agreement 2013 Member [Member] | Previous 2010 Credit Agreement | Previous 2010 Credit Agreement | USD ($) | USD ($) | CNY | USD ($) | USD ($) | Issuance Of Debt [Member] | Issuance Of Debt [Member] | USD ($) | USD ($) | Issuance Of Debt [Member] | Issuance Of Debt [Member] | Issuance Of Debt [Member] | USD ($) | ||||
USD ($) | USD ($) | Maximum [Member] | USD ($) | Maximum [Member] | USD ($) | USD ($) | EUR (€) | ||||||||||||||
Debt Instruments [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short-term debt, weighted average interest rate | 1.80% | 1.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash paid for interest, net of amounts capitalized | $136.10 | $127.60 | $117.40 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, issuance date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4-Feb-13 | ' | ' | ' | 7-Aug-13 | ' | ' | ' |
Debt instrument, maturity date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3-Feb-23 | ' | ' | ' | 7-Aug-20 | ' | ' | ' |
Senior Notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400 | 0 | ' | 400 | ' | ' | ' | ' | ' | ' |
Debt Payable In Other Currencies | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 405.7 | 0 | ' | 397 | 300 | ' |
Interest rate of debt, stated percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.75% | ' | ' | 2.75% | 2.00% | ' | ' | 2.00% | 2.00% | ' |
Amount classified as long-term debt based on ability and intent to refinance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400 |
Debt instrument, maturity year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2023 | ' | ' | ' | '2020 | ' | ' | ' | ' | '2014 |
Credit facility, initiation date | ' | ' | ' | ' | 30-Apr-13 | ' | 8-Jul-10 | ' | ' | 11-Jun-12 | 11-Jun-12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility, length credit agreement in years | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility, maximum borrowing capacity | ' | ' | ' | ' | 2,500 | ' | 2,170 | ' | 383 | 163.5 | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility, increase in amount | ' | ' | ' | 330 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility, expiration date | ' | ' | ' | ' | 30-Apr-18 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility, expiration, month year | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'June 2015 | 'June 2015 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility, previous expiration date | ' | ' | ' | ' | ' | ' | 30-Jun-15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Covenant, ratio of total debt to total capitalization | ' | ' | ' | ' | ' | 70.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Covenant, long-term debt divided by the sum of long-term debt plus equity | ' | ' | ' | ' | ' | ' | ' | 60.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility, amount borrowed and outstanding | ' | ' | ' | ' | 0 | ' | 0 | ' | 309 | 40.9 | 250 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility, early termination fees | ' | ' | ' | ' | ' | ' | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_Summary_of_Outstanding_De
Debt (Summary of Outstanding Debt) (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Debt Instruments [Abstract] | ' | ' |
Short-term borrowings | $709.90 | $633.40 |
Current portion of long-term debt | 507.4 | 74.3 |
Long-term debt | 5,056.30 | 4,584.20 |
Total Debt | $6,273.60 | $5,291.90 |
Debt_Shortterm_Borrowings_Deta
Debt (Short-term Borrowings) (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Short-term Debt [Abstract] | ' | ' |
Bank obligations | $218.90 | $249.90 |
Commercial paper | 491 | 383.5 |
Total Short-term Borrowings | $709.90 | $633.40 |
Debt_Longterm_Debt_Details
Debt (Long-term Debt) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Debt Instrument [Line Items] | ' | ' |
Less: Unamortized discount | ($5.70) | ($5) |
Total | 5,563.70 | 4,658.50 |
Less: Current portion | -507.4 | -74.3 |
Long-term debt | 5,056.30 | 4,584.20 |
United States 5.0% | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Interest rate of debt, stated percentage | 5.00% | ' |
Debt Instrument, Maturity Year Range, Start | '2014 | ' |
Debt Instrument, Maturity Year Range, End | '2018 | ' |
Capital Lease Obligations | 1.3 | 1.5 |
Foreign 6.0% | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Interest rate of debt, stated percentage | 6.00% | ' |
Debt Instrument, Maturity Year Range, Start | '2014 | ' |
Debt Instrument, Maturity Year Range, End | '2015 | ' |
Capital Lease Obligations | 0.3 | 1 |
Debentures 8.75% | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Interest rate of debt, stated percentage | 8.75% | ' |
Debt Instruments Maturity Year | '2021 | ' |
Senior Notes | 18.4 | 18.4 |
Series D 7.3% | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Weighted average interest rate | 7.30% | ' |
Debt Instruments Maturity Year | '2016 | ' |
Medium-term Notes | 32.1 | 32.1 |
Series E 7.6% | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Weighted average interest rate | 7.60% | ' |
Debt Instruments Maturity Year | '2026 | ' |
Medium-term Notes | 17.2 | 17.2 |
Note 4.15% | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Interest rate of debt, stated percentage | 4.15% | ' |
Debt Instruments Maturity Year | '2013 | ' |
Senior Notes | 0 | 300 |
Note 2.0% | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Interest rate of debt, stated percentage | 2.00% | ' |
Debt Instruments Maturity Year | '2016 | ' |
Senior Notes | 350 | 350 |
Note 1.2% | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Interest rate of debt, stated percentage | 1.20% | ' |
Debt Instruments Maturity Year | '2018 | ' |
Senior Notes | 400 | 400 |
Note 4.375% | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Interest rate of debt, stated percentage | 4.38% | ' |
Debt Instruments Maturity Year | '2019 | ' |
Senior Notes | 400 | 400 |
Note 3.0% | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Interest rate of debt, stated percentage | 3.00% | ' |
Debt Instruments Maturity Year | '2022 | ' |
Senior Notes | 400 | 400 |
Note 2.75% | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Interest rate of debt, stated percentage | 2.75% | ' |
Debt Instruments Maturity Year | '2023 | ' |
Senior Notes | 400 | 0 |
Variable-rate industrial revenue bonds 0.1% | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Weighted average interest rate | 0.10% | ' |
Debt Instrument, Maturity Year Range, Start | '2021 | ' |
Debt Instrument, Maturity Year Range, End | '2050 | ' |
Other Long-term Debt | 917.1 | 917.1 |
Commercial paper 0.1% | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Weighted average interest rate | 0.10% | ' |
Debt Instruments Maturity Year | '2014 | ' |
Other Long-term Debt | 400 | 0 |
Other 2.5% | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Weighted average interest rate | 2.50% | ' |
Debt Instrument, Maturity Year Range, Start | '2014 | ' |
Debt Instrument, Maturity Year Range, End | '2019 | ' |
Other Long-term Debt | 46.8 | 67.8 |
Eurobonds 3.75% | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Interest rate of debt, stated percentage | 3.75% | ' |
Debt Instruments Maturity Year | '2014 | ' |
Debt Payable In Other Currencies | 405.7 | 385.8 |
Eurobonds 3.875% | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Interest rate of debt, stated percentage | 3.88% | ' |
Debt Instruments Maturity Year | '2015 | ' |
Debt Payable In Other Currencies | 405.7 | 385.8 |
RMB Syndicated Credit Facility 4.05% | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Interest rate of debt, stated percentage | 4.05% | ' |
Debt Instruments Maturity Year | '2015 | ' |
Debt Payable In Other Currencies | 40.9 | 31.7 |
Eurobonds 4.625% | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Interest rate of debt, stated percentage | 4.63% | ' |
Debt Instruments Maturity Year | '2017 | ' |
Debt Payable In Other Currencies | 405.7 | 385.8 |
Eurobonds 2.0% | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Interest rate of debt, stated percentage | 2.00% | ' |
Debt Instruments Maturity Year | '2020 | ' |
Debt Payable In Other Currencies | 405.7 | 0 |
CLP Series E bonds 6.3% | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Interest rate of debt, stated percentage | 6.30% | ' |
Debt Instruments Maturity Year | '2030 | ' |
Debt Payable In Other Currencies | 163.8 | 172.6 |
Other 6.2% | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Interest rate of debt, stated percentage | 6.20% | ' |
Debt Instrument, Maturity Year Range, Start | '2014 | ' |
Debt Instrument, Maturity Year Range, End | '2021 | ' |
Debt Payable In Other Currencies | $358.70 | $396.70 |
Debt_Maturities_of_Longterm_De
Debt (Maturities of Long-term Debt) (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ' | ' |
2014 | $907.40 | ' |
2015 | 453 | ' |
2016 | 433 | ' |
2017 | 453.8 | ' |
2018 | 439.9 | ' |
Thereafter | 2,876.60 | ' |
Total | $5,563.70 | $4,658.50 |
Retirement_Benefits_Narrative_
Retirement Benefits (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | ||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Recognized settlement losses | ($7.90) | [1] | ($4.50) | [1] | $0 | [1] | $0 | [1] | ($12.40) | $0 | $0 |
Shares of Common Stock in ESOP | 3,691,435 | ' | ' | ' | 3,691,435 | ' | ' | ||||
Defined Contribution Plan, Cost Recognized | ' | ' | ' | ' | 40.6 | 33.9 | 31.3 | ||||
Pension Plans, Defined Benefit [Member] | ' | ' | ' | ' | ' | ' | ' | ||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Company contributions | ' | ' | ' | ' | 300.8 | ' | ' | ||||
Voluntary company contributions | ' | ' | ' | ' | 220 | ' | ' | ||||
ABO for all defined benefit pension plans | 3,990.70 | ' | ' | ' | 3,990.70 | 4,012.60 | ' | ||||
Pension arrangements not funded because of jurisdictional practice, accumulated benefit obligation | 143.7 | ' | ' | ' | 143.7 | ' | ' | ||||
Pension arrangements not funded because of jurisdictional practice, projected benefit obligation | 164.8 | ' | ' | ' | 164.8 | ' | ' | ||||
Pension Plans, Defined Benefit [Member] | Minimum [Member] | ' | ' | ' | ' | ' | ' | ' | ||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Total expected contributions for next fiscal year | 80 | ' | ' | ' | 80 | ' | ' | ||||
Pension Plans, Defined Benefit [Member] | Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | ||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Total expected contributions for next fiscal year | 100 | ' | ' | ' | 100 | ' | ' | ||||
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' | ' | ' | ' | ' | ' | ||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Discount rate | ' | ' | ' | ' | 1.90% | 3.70% | 2.80% | ||||
Accumulated postretirement benefit obligation discount rate | 2.40% | ' | ' | ' | 2.40% | 1.90% | ' | ||||
Net actuarial loss | 19.7 | ' | ' | ' | 19.7 | 36.5 | ' | ||||
Actuarial loss estimated | ' | ' | ' | ' | ($1.70) | ' | ' | ||||
[1] | For additional information, see Note 16, Retirement Benefits. During the third quarter, the pension settlements loss of $4.5 was presented in other income (expense), net. |
Retirement_Benefits_Schedule_o
Retirement Benefits (Schedule of Net Periodic Benefit Cost) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | ||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Settlements | $7.90 | [1] | $4.50 | [1] | $0 | [1] | $0 | [1] | $12.40 | $0 | $0 |
US [Member] | ' | ' | ' | ' | ' | ' | ' | ||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Service cost | ' | ' | ' | ' | 51.8 | 45.1 | 43.6 | ||||
Interest cost | ' | ' | ' | ' | 117.1 | 124.2 | 122.8 | ||||
Expected return on plan assets | ' | ' | ' | ' | -185.4 | -178.2 | -179.4 | ||||
Actuarial loss amortization | ' | ' | ' | ' | 116 | 78.6 | 63.9 | ||||
Prior service cost amortization | ' | ' | ' | ' | 2.9 | 2.7 | 2.6 | ||||
Settlements | ' | ' | ' | ' | 11.5 | 0 | 0 | ||||
Special termination benefits | ' | ' | ' | ' | 1.2 | 4.6 | 0 | ||||
Other | ' | ' | ' | ' | 0 | 0 | 0 | ||||
Net periodic benefit cost | ' | ' | ' | ' | 115.1 | 77 | 53.5 | ||||
International [Member] | ' | ' | ' | ' | ' | ' | ' | ||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Service cost | ' | ' | ' | ' | 31.5 | 24.1 | 29.5 | ||||
Interest cost | ' | ' | ' | ' | 57.3 | 62.3 | 64.2 | ||||
Expected return on plan assets | ' | ' | ' | ' | -71.2 | -66.7 | -68.1 | ||||
Actuarial loss amortization | ' | ' | ' | ' | 27 | 17.4 | 30.9 | ||||
Prior service cost amortization | ' | ' | ' | ' | 0.2 | 0.5 | 0.6 | ||||
Settlements | ' | ' | ' | ' | 0.9 | 1.4 | 1 | ||||
Special termination benefits | ' | ' | ' | ' | 6.2 | 2.2 | 0.3 | ||||
Other | ' | ' | ' | ' | 2.7 | 2.2 | 2.2 | ||||
Net periodic benefit cost | ' | ' | ' | ' | 54.6 | 43.4 | 60.6 | ||||
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' | ' | ' | ' | ' | ' | ||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Service cost | ' | ' | ' | ' | 4.3 | 4.5 | 5.7 | ||||
Interest cost | ' | ' | ' | ' | 1.9 | 3.9 | 3.3 | ||||
Actuarial loss amortization | ' | ' | ' | ' | 2.3 | 2.9 | 3.8 | ||||
Net periodic benefit cost | ' | ' | ' | ' | $8.50 | $11.30 | $12.80 | ||||
[1] | For additional information, see Note 16, Retirement Benefits. During the third quarter, the pension settlements loss of $4.5 was presented in other income (expense), net. |
Retirement_Benefits_Assumption
Retirement Benefits (Assumption in calculating net periodic benefit Cost) (Details) | 12 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |
US [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Discount rate | 3.90% | 4.90% | 5.10% |
Expected return on plan assets | 8.30% | 8.80% | 8.80% |
Rate of compensation increase | 4.00% | 4.00% | 4.00% |
US [Member] | Equity Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Expected return on plan assets | 9.30% | ' | ' |
US [Member] | Debt Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Expected return on plan assets | 5.70% | ' | ' |
US [Member] | Real Estate [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Expected return on plan assets | 7.10% | ' | ' |
International [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Discount rate | 4.30% | 5.50% | 4.90% |
Expected return on plan assets | 6.50% | 6.60% | 6.60% |
Rate of compensation increase | 3.40% | 3.80% | 3.80% |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Discount rate | 1.90% | 3.70% | 2.80% |
United Kingdom [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Expected return on plan assets | 7.00% | ' | ' |
Percentage of International Plan Assets | 'over 75% | ' | ' |
United Kingdom [Member] | Equity Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Expected return on plan assets | 7.60% | ' | ' |
United Kingdom [Member] | Debt Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Expected return on plan assets | 4.60% | ' | ' |
Retirement_Benefits_Assumption1
Retirement Benefits (Assumption in calculating projected benefit obligation) (Details) | Sep. 30, 2013 | Sep. 30, 2012 |
US [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Discount rate | 4.80% | 3.90% |
Rate of compensation increase | 4.00% | 4.00% |
International [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Discount rate | 4.30% | 4.30% |
Rate of compensation increase | 3.70% | 3.40% |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Discount rate | 2.40% | 1.90% |
Retirement_Benefits_Change_in_
Retirement Benefits (Change in PBO) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
US [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ' | ' | ' |
Obligation at beginning of year | $3,077.90 | $2,605.90 | ' |
Service cost | 51.8 | 45.1 | 43.6 |
Interest cost | 117.1 | 124.2 | 122.8 |
Amendments | 2.6 | 1.8 | ' |
Actuarial (gain) loss | -318.5 | 400.7 | ' |
Settlements | 8.9 | 0 | ' |
Special termination benefits | 1.2 | 4.6 | ' |
Participant contributions | 0 | 0 | ' |
Benefits paid | -131.4 | -104.4 | ' |
Currency translation/other | -0.6 | 0 | ' |
Obligation at End of Year | 2,809 | 3,077.90 | 2,605.90 |
International [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ' | ' | ' |
Obligation at beginning of year | 1,408.60 | 1,159.60 | ' |
Service cost | 31.5 | 24.1 | 29.5 |
Interest cost | 57.3 | 62.3 | 64.2 |
Amendments | -4.4 | 0 | ' |
Actuarial (gain) loss | 113.5 | 182.6 | ' |
Settlements | -2.8 | -4.5 | ' |
Special termination benefits | 6.2 | 2.2 | ' |
Participant contributions | 2.3 | 3.5 | ' |
Benefits paid | -45.2 | -42.2 | ' |
Currency translation/other | 18 | 21 | ' |
Obligation at End of Year | 1,585 | 1,408.60 | 1,159.60 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ' | ' | ' |
Obligation at beginning of year | 119.9 | 113.8 | ' |
Service cost | 4.3 | 4.5 | 5.7 |
Interest cost | 1.9 | 3.9 | 3.3 |
Actuarial (gain) loss | -14.5 | 10.2 | ' |
Benefits paid | -11.7 | -12.5 | ' |
Obligation at End of Year | $99.90 | $119.90 | $113.80 |
Retirement_Benefits_Change_in_1
Retirement Benefits (Change in Plan Assets) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
US [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' |
Fair value at beginning of year | $2,099.80 | $1,844.30 |
Actual return on plan assets | 313.4 | 348.8 |
Company contributions | 252.4 | 11.1 |
Participant contributions | 0 | 0 |
Benefits paid | -131.4 | -104.4 |
Settlements | 0 | 0 |
Currency translation/other | 0 | 0 |
Fair Value at End of Year | 2,534.20 | 2,099.80 |
Funded Status at End of Year | -274.8 | -978.1 |
International [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' |
Fair value at beginning of year | 1,139.30 | 979.4 |
Actual return on plan assets | 117.5 | 120.8 |
Company contributions | 48.4 | 65.3 |
Participant contributions | 2.3 | 3.5 |
Benefits paid | -45.2 | -42.2 |
Settlements | -2.8 | -4.5 |
Currency translation/other | 7.1 | 17 |
Fair Value at End of Year | 1,266.60 | 1,139.30 |
Funded Status at End of Year | -318.4 | -269.3 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' |
Benefits paid | ($11.70) | ($12.50) |
Retirement_Benefits_Amounts_re
Retirement Benefits (Amounts recognized in balance sheet) (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Noncurrent assets | $20.50 | $0.90 |
Accrued liabilities | 14.7 | 13.5 |
US [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Noncurrent assets | 19.4 | 0 |
Accrued liabilities | 14.7 | 13.5 |
Noncurrent liabilities | 279.5 | 964.6 |
Net Amount Recognized | -274.8 | -978.1 |
International [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Noncurrent assets | 1.1 | 0.9 |
Accrued liabilities | 0 | 0 |
Noncurrent liabilities | 319.5 | 270.2 |
Net Amount Recognized | -318.4 | -269.3 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Accrued liabilities | 10.9 | 12.6 |
Noncurrent liabilities | $89 | $107.30 |
Retirement_Benefits_Changes_re
Retirement Benefits (Changes recognized in other comprehensive income on pretax basis) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
US [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Net actuarial (gain) loss arising during the period | ($437.60) | $230 |
Amortization of net actuarial loss | -127.5 | -78.6 |
Prior service cost (credit) arising during the period | 2.6 | 1.8 |
Amortization of prior service cost | -2.9 | -2.7 |
Total | -565.4 | 150.5 |
International [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Net actuarial (gain) loss arising during the period | 67.2 | 128.6 |
Amortization of net actuarial loss | -27.9 | -18.8 |
Prior service cost (credit) arising during the period | -4.4 | 0 |
Amortization of prior service cost | -0.2 | -0.5 |
Total | 34.7 | 109.3 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Net actuarial (gain) loss arising during the period | -14.5 | 10.2 |
Amortization of net actuarial loss | -2.3 | -2.9 |
Total | ($16.80) | $7.30 |
Retirement_Benefits_Changes_re1
Retirement Benefits (Changes recognized in accumulated other comprehensive income on pretax basis) (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
US [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Net actuarial loss | $869.80 | $1,434.90 |
Prior service cost | 13.7 | 14 |
Total | 883.5 | 1,448.90 |
International [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Net actuarial loss | 541.8 | 502.5 |
Prior service cost | 1.4 | 6 |
Net transition liability | 0.4 | 0.4 |
Total | 543.6 | 508.9 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Net actuarial loss | $19.70 | $36.50 |
Retirement_Benefits_Amount_of_
Retirement Benefits (Amount of accumulated other comprehensive income expected to be recognized in next fiscal year) (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
US [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Net actuarial loss | $83.20 |
Prior service cost | 2.8 |
International [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Net actuarial loss | 35.1 |
Prior service cost | 0.1 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Net actuarial loss | $1.70 |
Retirement_Benefits_Benefit_li
Retirement Benefits (Benefit liability exceeds value of plan assets) (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
US [Member] | ' | ' |
Pension Plans with PBO in Excess of Plan Assets: | ' | ' |
PBO | $2,607.60 | $3,077.90 |
Fair value of Plan assets | 2,313.40 | 2,099.80 |
Pension Plans with ABO in Excess of Plan Assets: | ' | ' |
ABO | 139.3 | 2,738.60 |
Fair value of plan assets | 0 | 2,099.80 |
International [Member] | ' | ' |
Pension Plans with PBO in Excess of Plan Assets: | ' | ' |
PBO | 1,558.70 | 1,383.30 |
Fair value of Plan assets | 1,239.40 | 1,113.20 |
Pension Plans with ABO in Excess of Plan Assets: | ' | ' |
ABO | 1,401.30 | 1,249.10 |
Fair value of plan assets | $1,205.80 | $1,113.20 |
Retirement_Benefits_Plan_Asset
Retirement Benefits (Plan Assets target allocation) (Details) | 12 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
US [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 100.00% | 100.00% |
US [Member] | Equity Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 60.00% | ' |
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum | 80.00% | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 71.00% | 70.00% |
US [Member] | Debt Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 20.00% | ' |
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum | 30.00% | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 23.00% | 24.00% |
US [Member] | Real Estate [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 0.00% | ' |
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum | 10.00% | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 5.00% | 5.00% |
US [Member] | Cash and Cash Equivalents [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 0.00% | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 1.00% | 1.00% |
International [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 100.00% | 100.00% |
International [Member] | Equity Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 54.00% | ' |
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum | 65.00% | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 61.00% | 57.00% |
International [Member] | Debt Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 34.00% | ' |
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum | 45.00% | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 36.00% | 39.00% |
International [Member] | Real Estate [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 0.00% | ' |
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum | 2.00% | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 1.00% | 1.00% |
International [Member] | Cash and Cash Equivalents [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 0.00% | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 2.00% | 3.00% |
Retirement_Benefits_Pension_pl
Retirement Benefits (Pension plan assets at fair value by asset class) (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
In Millions, unless otherwise specified | |||
Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | $210.50 | $187.20 | $189.60 |
Level 3 [Member] | Real Estate [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 132.8 | 115 | 101.3 |
Level 3 [Member] | Pooled Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 9.4 | 8.7 | 16.7 |
Level 3 [Member] | Insurance Contracts [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 68.3 | 63.5 | 71.6 |
US [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 2,534.20 | 2,099.80 | 1,844.30 |
US [Member] | Cash and Cash Equivalents [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 10.1 | 9.9 | ' |
US [Member] | Equity Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 764.3 | 645.3 | ' |
US [Member] | Equity Mutual Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 487 | 446 | ' |
US [Member] | Equity Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 561.4 | 370.9 | ' |
US [Member] | Debt Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 12.5 | 13.8 | ' |
US [Member] | Collateralized Mortgage Backed Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 14.7 | 12.7 | ' |
US [Member] | Mutual Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 24 | 23.6 | ' |
US [Member] | Fixed Income Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 527.4 | 462.6 | ' |
US [Member] | Real Estate [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 132.8 | 115 | ' |
US [Member] | Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 1,285.40 | 1,124.80 | ' |
US [Member] | Level 1 [Member] | Cash and Cash Equivalents [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 10.1 | 9.9 | ' |
US [Member] | Level 1 [Member] | Equity Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 764.3 | 645.3 | ' |
US [Member] | Level 1 [Member] | Equity Mutual Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 487 | 446 | ' |
US [Member] | Level 1 [Member] | Equity Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
US [Member] | Level 1 [Member] | Debt Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
US [Member] | Level 1 [Member] | Collateralized Mortgage Backed Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
US [Member] | Level 1 [Member] | Mutual Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 24 | 23.6 | ' |
US [Member] | Level 1 [Member] | Fixed Income Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
US [Member] | Level 1 [Member] | Real Estate [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
US [Member] | Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 1,116 | 860 | ' |
US [Member] | Level 2 [Member] | Cash and Cash Equivalents [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
US [Member] | Level 2 [Member] | Equity Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
US [Member] | Level 2 [Member] | Equity Mutual Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
US [Member] | Level 2 [Member] | Equity Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 561.4 | 370.9 | ' |
US [Member] | Level 2 [Member] | Debt Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 12.5 | 13.8 | ' |
US [Member] | Level 2 [Member] | Collateralized Mortgage Backed Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 14.7 | 12.7 | ' |
US [Member] | Level 2 [Member] | Mutual Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
US [Member] | Level 2 [Member] | Fixed Income Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 527.4 | 462.6 | ' |
US [Member] | Level 2 [Member] | Real Estate [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
US [Member] | Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 132.8 | 115 | ' |
US [Member] | Level 3 [Member] | Cash and Cash Equivalents [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
US [Member] | Level 3 [Member] | Equity Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
US [Member] | Level 3 [Member] | Equity Mutual Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
US [Member] | Level 3 [Member] | Equity Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
US [Member] | Level 3 [Member] | Debt Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
US [Member] | Level 3 [Member] | Collateralized Mortgage Backed Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
US [Member] | Level 3 [Member] | Mutual Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
US [Member] | Level 3 [Member] | Fixed Income Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
US [Member] | Level 3 [Member] | Real Estate [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 132.8 | 115 | ' |
International [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 1,266.60 | 1,139.30 | 979.4 |
International [Member] | Cash and Cash Equivalents [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 16.9 | 37.8 | ' |
International [Member] | Equity Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 776 | 642.6 | ' |
International [Member] | Fixed Income Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 385.3 | 375.9 | ' |
International [Member] | Pooled Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 20.1 | 19.5 | ' |
International [Member] | Insurance Contracts [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 68.3 | 63.5 | ' |
International [Member] | Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 16.9 | 37.8 | ' |
International [Member] | Level 1 [Member] | Cash and Cash Equivalents [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 16.9 | 37.8 | ' |
International [Member] | Level 1 [Member] | Equity Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
International [Member] | Level 1 [Member] | Fixed Income Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
International [Member] | Level 1 [Member] | Pooled Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
International [Member] | Level 1 [Member] | Insurance Contracts [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
International [Member] | Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 1,172 | 1,029.30 | ' |
International [Member] | Level 2 [Member] | Cash and Cash Equivalents [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
International [Member] | Level 2 [Member] | Equity Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 776 | 642.6 | ' |
International [Member] | Level 2 [Member] | Fixed Income Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 385.3 | 375.9 | ' |
International [Member] | Level 2 [Member] | Pooled Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 10.7 | 10.8 | ' |
International [Member] | Level 2 [Member] | Insurance Contracts [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
International [Member] | Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 77.7 | 72.2 | ' |
International [Member] | Level 3 [Member] | Cash and Cash Equivalents [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
International [Member] | Level 3 [Member] | Equity Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
International [Member] | Level 3 [Member] | Fixed Income Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ' |
International [Member] | Level 3 [Member] | Pooled Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 9.4 | 8.7 | ' |
International [Member] | Level 3 [Member] | Insurance Contracts [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | $68.30 | $63.50 | ' |
Retirement_Benefits_Projected_
Retirement Benefits (Projected benefit payments) (Details) (USD $) | Sep. 30, 2013 |
In Millions, unless otherwise specified | |
US [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
2014 | $115.60 |
2015 | 124.7 |
2016 | 130.3 |
2017 | 141.3 |
2018 | 148.8 |
2019 - 2023 | 885.2 |
International [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
2014 | 46.4 |
2015 | 51.3 |
2016 | 53.3 |
2017 | 54.8 |
2018 | 57.7 |
2019 - 2023 | 344.1 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
2014 | 11.1 |
2015 | 10.9 |
2016 | 11 |
2017 | 10.8 |
2018 | 10.6 |
2019 - 2023 | $46.30 |
Retirement_Benefits_Summary_of
Retirement Benefits (Summary of changes in pension plan assets fair value classified as level 3) (Details) (Level 3 [Member], USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' |
Fair value at beginning of year | $187.20 | $189.60 |
Actual return on plan assets: | ' | ' |
Assets held at end of year | 25 | 11.6 |
Assets sold during the period | 0.2 | 0.3 |
Purchases, sales, and settlements, net | -1.9 | -14.3 |
Fair Value at End of Year | 210.5 | 187.2 |
Pooled Funds [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' |
Fair value at beginning of year | 8.7 | 16.7 |
Actual return on plan assets: | ' | ' |
Assets held at end of year | 1.6 | -1.1 |
Assets sold during the period | 0.2 | 0.3 |
Purchases, sales, and settlements, net | -1.1 | -7.2 |
Fair Value at End of Year | 9.4 | 8.7 |
Real Estate [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' |
Fair value at beginning of year | 115 | 101.3 |
Actual return on plan assets: | ' | ' |
Assets held at end of year | 17.8 | 13.7 |
Assets sold during the period | 0 | 0 |
Purchases, sales, and settlements, net | 0 | 0 |
Fair Value at End of Year | 132.8 | 115 |
Insurance Contracts [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' |
Fair value at beginning of year | 63.5 | 71.6 |
Actual return on plan assets: | ' | ' |
Assets held at end of year | 5.6 | -1 |
Assets sold during the period | 0 | 0 |
Purchases, sales, and settlements, net | -0.8 | -7.1 |
Fair Value at End of Year | $68.30 | $63.50 |
Retirement_Benefits_Assumed_he
Retirement Benefits (Assumed heathcare trend rates) (Details) | 12 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Defined Benefit Plan, Assumed Health Care Cost Trend Rates [Abstract] | ' | ' |
Healthcare trend rate | 7.50% | 8.00% |
Ultimate trend rate | 5.00% | 5.00% |
Year the ultimate trend rate is reached | '2019 | '2019 |
Commitments_and_Contingencies_1
Commitments and Contingencies (Litigation and Environmental) (Narrative) (Details) | 12 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2010 | Sep. 30, 2013 |
Environmental [Member] | Environmental [Member] | Alleged Anticompete Litigation [Member] | Alleged Anticompete Litigation [Member] | Alleged Anticompete Litigation [Member] | |
USD ($) | USD ($) | USD ($) | BRL | BRL | |
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' |
Civil fines imposed | ' | ' | $81 | 179.2 | ' |
Provision for litigation | ' | ' | 0 | ' | ' |
Maximum of loss contingency range subject to interest | ' | ' | 81 | ' | 179.2 |
Accrual for environmental loss contingencies | 86.7 | 87.5 | ' | ' | ' |
Approximate number of sites on which settlement has not been reached | 33 | ' | ' | ' | ' |
Accrual for environmental loss contingencies, Maximum payout period, years | '30 years | ' | ' | ' | ' |
Accrual for environmental loss contingencies, Minimum exposure | 86 | ' | ' | ' | ' |
Accrual for environmental loss contingencies, Maximum exposure | $100 | ' | ' | ' | ' |
Commitments_and_Contingencies_2
Commitments and Contingencies (Pace) (Narrative) (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2006 | Sep. 30, 2006 |
Pace, Florida [Member] | Pace, Florida [Member] | Segment Discontinued Operations Member | ||||
Pace, Florida [Member] | ||||||
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' | ' |
Accrual for environmental loss contingencies | ' | ' | ' | $33 | $42 | ' |
Years to complete environmental remediation | ' | ' | ' | ' | '20 years | ' |
Change in estimated exposure | ' | ' | ' | 0 | ' | ' |
Pretax environmental expense | 37.1 | 44.7 | 34 | ' | ' | 42 |
Environmental loss contingencies estimated costs through completion, maximum | ' | ' | ' | 52 | ' | ' |
Environmental loss contingencies estimated costs through completion, minimum | ' | ' | ' | $42 | ' | ' |
Commitments_and_Contingencies_3
Commitments and Contingencies (Piedmont) (Narrative) (Details) (USD $) | 12 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2008 | Sep. 30, 2008 |
Piedmont, Florida [Member] | Piedmont, Florida [Member] | Segment Discontinued Operations Member | ||||
Piedmont, Florida [Member] | ||||||
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' | ' |
Accrual for environmental loss contingencies | ' | ' | ' | $19.50 | $24 | ' |
Pretax environmental expense | 37.1 | 44.7 | 34 | ' | ' | 24 |
Years to complete environmental remediation (beginning in 2017) | ' | ' | ' | '15 years | ' | ' |
Change in estimated exposure | ' | ' | ' | 0 | ' | ' |
Total anticipated exposure at this site | ' | ' | ' | $24 | ' | ' |
Commitments_and_Contingencies_4
Commitments and Contingencies (Paulsboro) (Narrative) (Details) (Paulsboro, New Jersey [Member], USD $) | Sep. 30, 2013 | Dec. 31, 2008 |
In Millions, unless otherwise specified | ||
Paulsboro, New Jersey [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Accrual for environmental loss contingencies | $6.10 | $16 |
Commitments_and_Contingencies_5
Commitments and Contingencies (Pasadena) (Narrative) (Details) (Pasadena Texas Member [Member], USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Pasadena Texas Member [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Accrual for environmental loss contingencies | $12.70 | ' |
Years to complete environmental remediation | '30 years | ' |
Total anticipated exposure at this site | ' | 13 |
Change in estimated exposure | $0 | ' |
Commitments_and_Contingencies_6
Commitments and Contingencies (Asset Retirement Obligations) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Asset Retirement Obligation [Abstract] | ' | ' | ' |
Asset retirement obligations | $89.80 | $76.70 | $63.40 |
Additional accruals | 12.9 | 15 | ' |
Liabilities settled | -3.6 | -5.7 | ' |
Accretion expense | 3.4 | 3.4 | ' |
Currency translation adjustment | $0.40 | $0.60 | ' |
Commitments_and_Contingencies_7
Commitments and Contingencies (Guarantees and Other) (Narrative) (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
Guarantor Obligations [Line Items] | ' |
Equity contributions or payments required | $0 |
Unrecorded Unconditional Purchase Obligation [Line Items] | ' |
2014 | 821 |
Unconditional purchase obligation | 1,470 |
Purchase commitments - additional plant and equipment [Member] | ' |
Unrecorded Unconditional Purchase Obligation [Line Items] | ' |
2014 | 625 |
HYCO Feedstock Supply [Member] | ' |
Unrecorded Unconditional Purchase Obligation [Line Items] | ' |
Unconditional purchase obligation | 700 |
Trinidad Facility [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Equity method investment, ownership percentage | 50.00% |
Maximum potential payment under joint and several guarantees | 49.5 |
Exposures under the guarantee completion year | '2024 |
Unconsolidated Equity Affiliates [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Terms of guaranteed repayment of borrowings minimum | '1 year |
Terms of guaranteed repayment of borrowings, maximum | '8 years |
Maximum potential guaranteed debt repayments | $4.70 |
Commitments_and_Contingencies_8
Commitments and Contingencies (Put Option Agreements) (Narrative) (Details) (USD $) | 9 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Jul. 03, 2012 | Sep. 30, 2013 |
San Fu Gas [Member] | ' | ' |
Put Option [Line Items] | ' | ' |
Percentage of ownership | ' | 74.00% |
Put option effective date maximum | ' | 'January 2015 |
Estimated current value of put option | ' | 275 |
Indura [Member] | ' | ' |
Put Option [Line Items] | ' | ' |
Agreement to purchase additional equity interest under put option | ' | 30.50% |
Agreement to purchase additional shares under put option | ' | 16.3 |
Put option exercise period start date | ' | '1 July 2015 |
Put option exercise period beginning 1 July 2015 | '2 years | ' |
Commitments_and_Contingencies_9
Commitments and Contingencies (Purchase Obligation) (Details) (USD $) | Sep. 30, 2013 |
In Millions, unless otherwise specified | |
Unrecorded Unconditional Purchase Obligation, Fiscal Year Maturity [Abstract] | ' |
2014 | $821 |
2015 | 104 |
2016 | 104 |
2017 | 80 |
2018 | 65 |
Thereafter | 296 |
Total | $1,470 |
Capital_Stock_Common_Stock_Nar
Capital Stock (Common Stock) (Narrative) (Details) (USD $) | 12 Months Ended | 0 Months Ended | |||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Sep. 15, 2011 |
Maximum [Member] | |||||
Capital Stock [Abstract] | ' | ' | ' | ' | ' |
Common stock, authorized shares | 300,000,000 | ' | ' | ' | ' |
Common stock, par value | $1 | $1 | ' | ' | ' |
Common stock, issued shares | 249,455,584 | 249,455,584 | ' | ' | ' |
Common stock, shares outstanding | 211,179,257 | 212,475,880 | 210,185,256 | 213,802,865 | ' |
Equity, Class of Treasury Stock [Line Items] | ' | ' | ' | ' | ' |
Share repurchase program authorized amount | ' | ' | ' | ' | $1,000 |
Shares repurchased during period, shares | 5,721,017 | 594,916 | 7,433,612 | ' | ' |
Cost of shares repurchased | 461.6 | 53.1 | 649.2 | ' | ' |
Share repurchase authorization remaining, amount | $485.30 | ' | ' | ' | ' |
Capital_Stock_Changes_in_Commo
Capital Stock (Changes in Common Shares) (Details) | 12 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' |
Balance, beginning of year | 212,475,880 | 210,185,256 | 213,802,865 |
Purchase of treasury shares | -5,721,017 | -594,916 | -7,433,612 |
Issuance of treasury shares for stock option and award plans | 4,424,394 | 2,885,540 | 3,816,003 |
Balance, end of year | 211,179,257 | 212,475,880 | 210,185,256 |
Capital_Stock_Preferred_Stock_
Capital Stock (Preferred Stock and Shareholder Rights Plan) (Narrative) (Details) (USD $) | 12 Months Ended |
Sep. 30, 2013 | |
Class of Stock [Line Items] | ' |
Preferred stock, shares authorized | 25,000,000 |
Perferred stock, par value | $1 |
Preferred stock, shares issued | 0 |
Preferred stock, shares outstanding | 0 |
Shareholder rights plan adoption date | 24-Jul-13 |
Rights per common share | 1 |
Number of shares purchasable per right | 0.001 |
Exercise price per right | $300 |
Market value of stock purchased per right in relation to exercise price | 200.00% |
Shareholder rights plan expiration date | 24-Jul-14 |
Redemption price per right | $0.00 |
Series A Junior Participating Preferred Stock [Member] | ' |
Class of Stock [Line Items] | ' |
Preferred stock, shares authorized | 2,500,000 |
Acquiring Person Other Than Institutional Investor [Member] | ' |
Class of Stock [Line Items] | ' |
Ownership for rights to become exercisable | 10.00% |
Acquiring Institutional Investor [Member] | ' |
Class of Stock [Line Items] | ' |
Ownership for rights to become exercisable | 20.00% |
ShareBased_Compensation_Narrat
Share-Based Compensation (Narratives) (Details) (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Share-based Compensation Arrangement by Share-based Award [Line Items] | ' | ' | ' |
Shares available for future grant | 6,610,360 | ' | ' |
Employee Stock Options [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Award [Line Items] | ' | ' | ' |
General Vesting Period | '3 years | ' | ' |
Exercisable period from grant date | '10 years | ' | ' |
Weighted-average grant date fair value of stock option | $19.85 | $21.43 | $23.83 |
Closing stock price | $106.57 | ' | ' |
Intrinsic value of stock options exercised | $170.40 | $110.60 | $180.80 |
Unrecognized compensation costs | 9.7 | ' | ' |
Unrecognized compensation costs, period for recognition, years | '2 years 0 months | ' | ' |
Cash received from option exercises | 226.4 | ' | ' |
Tax benefit realized from stock option exericses | 61.6 | ' | ' |
Excess tax benefit | 34 | ' | ' |
Deferred Stock Units [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Award [Line Items] | ' | ' | ' |
Deferral Period | 'three-, four-, or five-year | ' | ' |
Cash payments made for deferred stock units | 1.9 | 1.8 | 1 |
Unrecognized compensation costs | 24.3 | ' | ' |
Unrecognized compensation costs, period for recognition, years | '2 years 5 months | ' | ' |
Fair value of deferred stock units paid | 32.3 | 22 | 26.3 |
Performance-Based DSUs [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Award [Line Items] | ' | ' | ' |
Deferral Period | 'one to three years | ' | ' |
Director Deferred Stock Units [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Award [Line Items] | ' | ' | ' |
Period after service in which to elect payment | '10 years | ' | ' |
Restricted Stock [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Award [Line Items] | ' | ' | ' |
Unrecognized compensation costs | 1.9 | ' | ' |
Unrecognized compensation costs, period for recognition, years | '2 years 4 months | ' | ' |
Fair value of vested restricted stock | $4.40 | $2 | $1.60 |
ShareBased_Compensation_Compen
Share-Based Compensation (Compensation Cost Recognized in Income Statement) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Before-Tax Share-Based Compensation | $43.50 | $43.80 | $44.80 |
Income Tax Benefit | -15.7 | -15.7 | -17.1 |
After-Tax Share-Based Compensation | $27.80 | $28.10 | $27.70 |
ShareBased_Compensation_Total_
Share-Based Compensation (Total Before Tax Share Based Compensation Cost by Type of Program) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Share-based compensation | $43.50 | $43.80 | $44.80 |
Employee Stock Options [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Share-based compensation | 21.5 | 22.1 | 21.4 |
Deferred Stock Units [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Share-based compensation | 19.6 | 19.5 | 20.8 |
Restricted Stock [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Share-based compensation | $2.40 | $2.20 | $2.60 |
ShareBased_Compensation_Share_
Share-Based Compensation (Share based Compensation Arrangement Assumptions) (Details) | 12 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |
Share-Based Compensation [Abstract] | ' | ' | ' |
Expected volatility, minimum | 28.60% | 29.00% | 29.20% |
Expected volatility, maximum | 30.40% | 30.40% | 30.00% |
Expected dividend yield | 2.40% | 2.30% | 2.20% |
Share-based Compensation Arrangement by Share-based Award [Line Items] | ' | ' | ' |
Risk-free interest rate, minimum | 1.20% | 1.70% | 2.40% |
Risk-free interest rate, maximum | 1.50% | 2.10% | 2.90% |
Minimum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Award [Line Items] | ' | ' | ' |
Expected life in years | '7 years 4 months | '7 years 4 months | '7 years |
Maximum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Award [Line Items] | ' | ' | ' |
Expected life in years | '9 years 1 month | '9 years | '8 years 8 months |
ShareBased_Compensation_Summar
Share-Based Compensation (Summary of Stock Option Activity) (Details) (USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' |
Outstanding-Shares, Beginning | 11,835 |
Granted-Shares | 1,140 |
Exercised-Shares | -4,263 |
Forfeited/Expired-Shares | -100 |
Outstanding-Shares, Ending | 8,612 |
Exercisable-Shares | 6,531 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | ' |
Outstanding-Weighted Average Exercise Price, Beginning | $67.79 |
Granted-Weighted Average Exercise Price | $81.76 |
Exercised-Weighted Average Exercise Price | $55.17 |
Forfeited/Expired-Weighted Average Exercise Price | $85.37 |
Outstanding-Weighted Average Exercise Price, Ending | $75.69 |
Exercisable-Weighted Average Exercise Price | $73.23 |
ShareBased_Compensation_Summar1
Share-Based Compensation (Summary of Stock Option Contract Term and Intrinsic Value) (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | ' |
Weighted Average Remaining Contractual Terms, Outstanding | '5 years 4 months |
Aggregated Intrinsic Value, Outstanding | $268 |
Weighted Average Remaining Contractual Terms, Exercisable | '4 years 4 months |
Aggregated Intrinsic Value, Exercisable | $218 |
ShareBased_Compensation_Summar2
Share-Based Compensation (Summary of Deferred Stock Units) (Details) (Deferred Stock Units [Member], USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 |
Deferred Stock Units [Member] | ' |
Share Based Compensation Arrangement By Share-Based Payment Award NonOption Equity Instruments Outstanding [RollForward] | ' |
Outstanding - Shares, Beginning | 1,416 |
Granted - Shares | 264 |
Paid out - Shares | -393 |
Forfeited/adjustments - Shares | -23 |
Outstanding - Shares, Ending | 1,264 |
Outstanding - Weighted Average Grant Date Fair Value, Beginning | $69.09 |
Granted - Weighted Average Grant Date Fair Value | $82.78 |
Paid out - Weighted Average Grant Date Fair Value | $56.36 |
Forfeited/adjustments - Weighted Average Grant Date Fair Value | $83.23 |
Outstanding - Weighted Average Grant Date Fair Value, Ending | $75.64 |
ShareBased_Compensation_Summar3
Share-Based Compensation (Summary Of Restricted Stock) (Details) (Restricted Stock [Member], USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 |
Restricted Stock [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ' |
Outstanding - Shares, Beginning | 143 |
Granted - Shares | 34 |
Vested - Shares | -53 |
Outstanding - Shares, Ending | 124 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | ' |
Outstanding - Weighted Average Grant Date Fair Value, Beginning | $73.61 |
Granted - Weighted Average Grant Date Fair Value | $81.57 |
Vested - Weighted Average Grant Date Fair Value | $67.12 |
Outstanding - Weighted Average Grant Date Fair Value, Ending | $78.51 |
Noncontrolling_Interests_Narra
Noncontrolling Interests (Narrative) (Details) (Indura [Member]) | 12 Months Ended |
Sep. 30, 2013 | |
Indura [Member] | ' |
Noncontrolling Interest [Line Items] | ' |
Agreement to purchase additional equity interest under put option | 30.50% |
Put option exercise period start date | '1 July 2015 |
Put option exercise period beginning 1 July 2015 | '2 years |
Noncontrolling_Interests_Rollf
Noncontrolling Interests (Rollforward Redeemable Noncontrolling Interest) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Redeemable Noncontrolling Interest [Line Items] | ' | ' |
Balance, beginning of period | $392.50 | $0 |
Indura acquisition | ' | 374.1 |
Net income (loss) | 8.1 | -2.4 |
Dividends | -1.1 | ' |
Currency translation adjustment | -23.7 | 20.8 |
Balance, end of period | $375.80 | $392.50 |
Noncontrolling_Interests_Sched
Noncontrolling Interests (Schedule of Changes in Ownership Interests) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Noncontrolling Interest [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Income Attributable to Air Products | $137.10 | $288.40 | $290.40 | $278.30 | $138.70 | $484.50 | $296 | $248.10 | $994.20 | $1,167.30 | $1,224.20 |
Earnings_per_Share_Schedule_of
Earnings per Share (Schedule of Earnings per Share) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Earnings Per Share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income from continuing operations | $150.20 | $287.80 | $289.30 | $276.90 | $137.10 | $357.20 | $279 | $225.90 | $1,004.20 | $999.20 | $1,134.30 |
Income from discontinued operations | -13.1 | 0.6 | 1.1 | 1.4 | 1.6 | 127.3 | 17 | 22.2 | -10 | 168.1 | 89.9 |
Net Income Attributable to Air Products | $137.10 | $288.40 | $290.40 | $278.30 | $138.70 | $484.50 | $296 | $248.10 | $994.20 | $1,167.30 | $1,224.20 |
Weighted average number of common shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 209.7 | 211.2 | 213 |
Employee stock options | ' | ' | ' | ' | ' | ' | ' | ' | 2.6 | 3.5 | 4.6 |
Weighted average number of common shares outstanding assuming dilution | ' | ' | ' | ' | ' | ' | ' | ' | 212.3 | 214.7 | 217.6 |
Income from Continuing Operations, Basic | $0.71 | $1.38 | $1.38 | $1.32 | $0.65 | $1.69 | $1.32 | $1.07 | $4.79 | $4.73 | $5.33 |
Income (loss) from Discontinued Operations, Basic | ($0.06) | $0 | $0.01 | $0.01 | $0.01 | $0.60 | $0.08 | $0.11 | ($0.05) | $0.80 | $0.42 |
Net Income Attributable to Air Products | $0.65 | $1.38 | $1.39 | $1.33 | $0.66 | $2.29 | $1.40 | $1.18 | $4.74 | $5.53 | $5.75 |
Income from Continuing Operations, Diluted | $0.70 | $1.36 | $1.37 | $1.30 | $0.64 | $1.66 | $1.30 | $1.06 | $4.73 | $4.66 | $5.22 |
Income from Discontinued Operations, Diluted | ($0.06) | $0 | $0.01 | $0.01 | $0.01 | $0.60 | $0.08 | $0.10 | ($0.05) | $0.78 | $0.41 |
Net Income Attributable to Air Products | $0.64 | $1.36 | $1.38 | $1.31 | $0.65 | $2.26 | $1.38 | $1.16 | $4.68 | $5.44 | $5.63 |
Earnings_per_Share_Narrative_D
Earnings per Share (Narrative) (Details) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Earnings Per Share | ' | ' | ' |
Antidilutive options excluded from computation of diluted earnings per share | 2.1 | 3.6 | 2.1 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) | 12 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Sep. 30, 2012 | Nov. 30, 2011 | Nov. 30, 2011 | Mar. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Jun. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
USD ($) | USD ($) | USD ($) | USD ($) | Spanish Tax Settlement [Member] | Spanish Tax Settlement [Member] | Spanish Tax Settlement [Member] | Spanish Tax Ruling [Member] | Spanish Tax Ruling [Member] | European Homecare Business [Member] | U S Healthcare Business [Member] | U.S. [Member] | Foreign [Member] | State [Member] | |
USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | |||||
Income Taxes [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income tax payments, net of refunds | $325.50 | $255.70 | $159.90 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating loss carryforwards | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 154.9 | 301 |
Tax credits and other tax carryforwards | 66.6 | 52.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19.7 | 46.9 | ' |
Unused carryforwards and credits that have an expiration period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 117.9 | ' |
Operating loss carryforward expiration periods range | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'mainly expire in 2023 | '2014 to 2023 | '2014 and 2033 |
Valuation alowance, deferred tax asset, change in amount | 8.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred tax assets, valuation allowance | 44.7 | 36.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cumulative undistributed earnings | 5,524.90 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of the undistributed earnings in countries with a statutory tax rate of 24% or higher | 90.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Statutory tax rate percentage or higher | 24.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
US Income and foreign withholding taxes estimate | 1,400.30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized tax benefits | 124.3 | 110.8 | 126.4 | 197.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized tax benefits that would impact effective tax rate | 63.1 | 56.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest and penalties related to unrecognized tax benefits | 2.4 | -26.1 | -2.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued interest and penalties | 8.1 | 7.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (decrease) in income tax expense | ' | ' | ' | ' | 43.8 | ' | ' | -58.3 | ' | ' | -23.9 | ' | ' | ' |
Increase (decrease) in income tax expense, per share | ' | ' | ' | ' | $0.20 | ' | ' | ($0.27) | ' | ' | ' | ' | ' | ' |
Increase (decrease) in unrecognized tax benefit | ' | ' | ' | ' | ' | ' | ' | ' | ' | 33.3 | -36 | ' | ' | ' |
Unrecognized tax benefits, decreases resulting from prior period tax positions | 0.5 | 46.9 | 72.4 | ' | 6.4 | ' | ' | ' | 38.3 | ' | ' | ' | ' | ' |
Unrecognized tax benefits,decreases resulting from settlements with taxing authorities | 1.4 | 11 | 15.6 | ' | 11 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discontinued operations, tax benefit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.9 | ' | ' | ' |
Discontinued operations, tax benefit, per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.04 | ' | ' | ' |
Income tax settlement | ' | ' | ' | ' | ' | $56 | € 41.30 | ' | ' | ' | ' | ' | ' | ' |
Impact on effective income tax rate due to tax ruling | ' | ' | ' | ' | ' | ' | ' | ' | -4.40% | ' | ' | ' | ' | ' |
Impact on effective income tax rate due to settlement | ' | ' | ' | ' | 3.30% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income_Taxes_Income_Of_US_And_
Income Taxes (Income Of U.S And Foreign Operations Before Taxes) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Income Tax Expense (Benefit) [Abstract] | ' | ' | ' |
Income (Loss) from Continuing Operations before Income Taxes, United States | $428.50 | $518.60 | $625.50 |
Income (Loss) from Continuing Operations before Income Taxes, Foreign | 754.1 | 640.1 | 767.1 |
Income (Loss) from Equity Method Investments | 167.8 | 153.8 | 154.3 |
Income from Continuing Operations before Taxes | $1,350.40 | $1,312.50 | $1,546.90 |
Income_Taxes_Components_of_the
Income Taxes (Components of the Income Taxes Provision) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Current Income Tax Expense | ' | ' | ' |
Federal, Current | $97.60 | $43.10 | $14.70 |
State, Current | 6.5 | 9.6 | 20.1 |
Foreign, Current | 191 | 173.9 | 153.8 |
Current Tax Provision | 295.1 | 226.6 | 188.6 |
Deferred Income Tax Expense | ' | ' | ' |
Federal, Deferred | 27.7 | 76.5 | 181.6 |
State, Deferred | -7.8 | 4 | 2.6 |
Foreign, Deferred | -7.1 | -19.8 | 2.5 |
Deferred Tax Provision | 12.8 | 60.7 | 186.7 |
Provision for income taxes | $307.90 | $287.30 | $375.30 |
Income_Taxes_Effective_Tax_Rat
Income Taxes (Effective Tax Rate Reconciliation) (Details) | 12 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | ' | ' | ' |
U.S. federal statutory tax rate | 35.00% | 35.00% | 35.00% |
State taxes, net of federal benefit | 0.50% | 0.70% | 1.00% |
Income from equity affiliates | -4.30% | -4.00% | -3.30% |
Foreign taxes and credits | -6.90% | -8.60% | -7.10% |
Domestic production activities | -0.60% | -0.90% | -0.60% |
Tax audit settlements and adjustments | 0.00% | -1.10% | -1.10% |
Other | -0.90% | 0.80% | 0.40% |
Effective Tax Rate | 22.80% | 21.90% | 24.30% |
Income_Taxes_Significant_Compo
Income Taxes (Significant Components of Deferred Tax Assets and Liabilities) (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Deferred Tax Assets, Gross [Abstract] | ' | ' |
Retirement benefits and compensation accruals | $347.20 | $520.40 |
Tax loss carryforwards | 53.3 | 57.4 |
Tax credits and other tax carryforwards | 66.6 | 52.8 |
Reserves and accruals | 140.3 | 188.9 |
Asset impairment | 0 | 25.4 |
Currency losses | 34.8 | 0 |
Other | 40.1 | 43.2 |
Valuation allowance | -44.7 | -36.6 |
Deferred Tax Assets | 637.6 | 851.5 |
Deferred Tax Liabilities, Gross [Abstract] | ' | ' |
Plant and equipment | 1,066.40 | 1,089.50 |
Currency gains | 0 | 20.3 |
Unremitted earnings of foreign entities | 80.6 | 71.9 |
Intangible assets | 135.5 | 135.3 |
Other | 17.8 | 10.2 |
Deferred Tax Liabilities | 1,300.30 | 1,327.20 |
Net Deferred Income Tax Liabilities | $662.70 | $475.70 |
Income_Taxes_Deferred_Tax_Asse
Income Taxes (Deferred Tax Assets And Liabilities Included In Consolidated Financials) (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Deferred Tax Assets [Abstract] | ' | ' |
Other receivables and current assets | $115.30 | $129 |
Other noncurrent assets | 53.1 | 73.7 |
Total Deferred Tax Assets | 168.4 | 202.7 |
Deferred Tax Liabilities [Abstract] | ' | ' |
Payables and accrued liabilities | 3.9 | 7.6 |
Deferred income taxes | 827.2 | 670.8 |
Total Deferred Tax Liabilities | 831.1 | 678.4 |
Net Deferred Income Tax Liabilities | $662.70 | $475.70 |
Income_Taxes_Reconciliation_Of
Income Taxes (Reconciliation Of Unrecognized Tax Benefits) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ' | ' | ' |
Balance at beginning of year | $110.80 | $126.40 | $197.80 |
Additions for tax positions of the current year | 12.7 | 44.5 | 16.3 |
Additions for tax positions of prior years | 9 | 2.3 | 5.7 |
Reductions for tax positions of prior years | -0.5 | -46.9 | -72.4 |
Settlements | -1.4 | -11 | -15.6 |
Statute of limitations expiration | -8 | -3.7 | -4.8 |
Foreign currency translation adjustment increase | 1.7 | ' | ' |
Foreign currency translation | ' | -0.8 | -0.6 |
Balance at End of Year | $124.30 | $110.80 | $126.40 |
Income_Taxes_Summary_Of_Income
Income Taxes (Summary Of Income Tax Examinations) (Details) | 12 Months Ended |
Sep. 30, 2013 | |
North America [Member] | United States | Minimum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2009 |
North America [Member] | United States | Maximum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2013 |
North America [Member] | Canada | Minimum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2008 |
North America [Member] | Canada | Maximum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2013 |
Europe [Member] | France | Minimum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2009 |
Europe [Member] | France | Maximum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2013 |
Europe [Member] | Germany | Minimum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2006 |
Europe [Member] | Germany | Maximum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2013 |
Europe [Member] | Netherlands | Minimum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2008 |
Europe [Member] | Netherlands | Maximum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2013 |
Europe [Member] | Poland | Minimum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2008 |
Europe [Member] | Poland | Maximum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2013 |
Europe [Member] | Spain | Minimum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2009 |
Europe [Member] | Spain | Maximum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2013 |
Europe [Member] | United Kingdom | Minimum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2010 |
Europe [Member] | United Kingdom | Maximum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2013 |
Asia [Member] | China | Minimum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2008 |
Asia [Member] | China | Maximum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2013 |
Asia [Member] | Singapore | Minimum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2008 |
Asia [Member] | Singapore | Maximum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2013 |
Asia [Member] | South Korea | Minimum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2008 |
Asia [Member] | South Korea | Maximum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2013 |
Asia [Member] | Taiwan | Minimum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2009 |
Asia [Member] | Taiwan | Maximum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2013 |
Latin America [Member] | Brazil | Minimum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2008 |
Latin America [Member] | Brazil | Maximum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2013 |
Latin America [Member] | Chile | Minimum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2010 |
Latin America [Member] | Chile | Maximum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2013 |
Supplemental_Information_Other
Supplemental Information (Other Receivables and Current Assets) (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Supplemental Information [Abstract] | ' | ' |
Deferred tax assets | $115.30 | $129 |
Derivative instruments | 61.8 | 14.7 |
Other receivables | 174.1 | 126.3 |
Current capital lease receivables | 67.2 | 62 |
Other | 14 | 10 |
Other receivables and noncurrent assets total | $432.40 | $342 |
Supplemental_Information_Other1
Supplemental Information (Other Noncurrent Assets) (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Supplemental Information [Abstract] | ' | ' |
Derivative instruments | $64.10 | $112.90 |
Other long-term receivables | 38.2 | 47.8 |
Deferred financing cost, net | 27 | 24.3 |
Prepaid taxes | 34.1 | 0 |
Deferred tax assets | 53.1 | 73.7 |
Pension benefits | 20.5 | 0.9 |
Other | 156.5 | 134 |
Other noncurrent assets total | $393.50 | $393.60 |
Supplemental_Information_Payab
Supplemental Information (Payables and Accrued Liabilities) (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Supplemental Information [Abstract] | ' | ' |
Trade creditors | $1,025.50 | $1,004.90 |
Customer advances | 162.7 | 155 |
Accrued payroll and employee benefits | 133.5 | 137.7 |
Pension benefits | 14.7 | 13.5 |
Dividends payable | 150 | 136 |
Outstanding payments in excess of certain cash balances | 10.5 | 26.3 |
Accrued interest expense | 54.1 | 48.4 |
Derivative instruments | 27.5 | 34.8 |
Contingent proceeds related to Homecare retenders | 148.1 | 0 |
Liability related to purchase of shares from noncontrolling interests | 0 | 10.6 |
Contract actions associated with business restructuring | 1.9 | 100 |
Severance and other costs associated with business restructuring and cost reduction plans | 65.2 | 89.4 |
Other | 151.2 | 171.1 |
Payables and accrued liabilities total | $1,944.90 | $1,927.70 |
Supplemental_Information_Other2
Supplemental Information (Other Noncurrent Liabilities) (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Liabilities, Noncurrent [Abstract] | ' | ' |
Pension benefits | $599 | $1,234.80 |
Postretirement benefits | 89 | 107.3 |
Other employee benefits | 114.3 | 123 |
Contingencies related to uncertain tax positions | 94.2 | 112.1 |
Advance payments | 31 | 32.7 |
Environmental liabilities | 79.6 | 80.3 |
Contingent proceeds related to Homecare retenders | 0 | 140.8 |
Derivative instruments | 13.8 | 12 |
Asset retirement obligation | 86 | 71.2 |
Other | 57.4 | 66.7 |
Other noncurrent liabilities total | $1,164.30 | $1,980.90 |
Supplemental_Information_Accum
Supplemental Information (Accumulated Other Comprehensive Income Loss) (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
In Millions, unless otherwise specified | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | ' | ' |
Net unrecognized loss on derivatives qualifying as hedges | ($4.10) | ($18.90) | ($9.50) |
Foreign currency translation adjustments | -61.5 | -38.8 | -130.9 |
Pension and postretirement benefits | -955 | -1,291.10 | -1,113 |
Total accumulated other comprehensive income (loss) | ($1,020.60) | ($1,348.80) | ($1,253.40) |
Supplemental_Information_Other3
Supplemental Information (Other Income Expense) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Other Income (Expense) [Abstract] | ' | ' | ' |
Technology and royalty income | $23.40 | $22.90 | $24.30 |
Interest income | 6.4 | 5.4 | 5.7 |
Foreign exchange | -3.2 | 1.1 | -8.6 |
Sale of assets and investments | 20 | 8.4 | 14.6 |
Government grants | 6.8 | 15.2 | 9.5 |
Other | 16.8 | -5.9 | -3.8 |
Total Other Income (Expense), net | $70.20 | $47.10 | $41.70 |
Supplemental_Information_Narra
Supplemental Information (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | ||||||||
Supplemental Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Advisory costs | $10.10 | [1] | $0 | [1] | $0 | [1] | $0 | [1] | ' | ' | ' | ' | $10.10 | $0 | $0 | ||||
Advisory costs, after-tax | 6.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Advisory costs, per share | $0.03 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Customer bankruptcy | ' | ' | ' | ' | 9.8 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | 9.8 | 0 | ||||
Customer backruptcy, after-tax | ' | ' | ' | ' | $6.10 | ' | ' | ' | ' | ' | ' | ||||||||
Customer bankruptcy, per share | ' | ' | ' | ' | $0.03 | ' | ' | ' | ' | ' | ' | ||||||||
[1] | For additional information, see Note 23, Supplemental Information. |
Summary_by_Quarter_Unaudited_D
Summary by Quarter (Unaudited) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Sales | $2,586.50 | $2,547.30 | $2,484.20 | $2,562.40 | $2,605.80 | $2,340.10 | $2,344.30 | $2,321.50 | $10,180.40 | $9,611.70 | $9,673.70 | |||||||||||
Gross profit | 703.6 | 671.8 | 670.6 | 662.3 | 682.8 | 649.3 | 628.5 | 599.2 | 2,708.30 | 2,559.80 | ' | |||||||||||
Net loss on Airgas transaction | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 48.5 | |||||||||||
Business restructuring and cost reduction plans | 231.6 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 240.6 | [1] | 0 | [1] | 86.8 | [1] | 0 | [1] | 231.6 | [2] | 327.4 | [2] | 0 | [2] |
Gain on previously held equity interest | ' | ' | ' | ' | 0 | [3] | 85.9 | [3] | 0 | [3] | 0 | [3] | 0 | 85.9 | 0 | |||||||
Customer bankruptcy | ' | ' | ' | ' | 9.8 | [4] | 0 | [4] | 0 | [4] | 0 | [4] | 0 | 9.8 | 0 | |||||||
Pension settlement loss | 7.9 | [5] | 4.5 | [5] | 0 | [5] | 0 | [5] | ' | ' | ' | ' | 12.4 | 0 | 0 | |||||||
Advisory costs | 10.1 | [4] | 0 | [4] | 0 | [4] | 0 | [4] | ' | ' | ' | ' | 10.1 | 0 | 0 | |||||||
Operating income | 179.2 | 383.1 | 389.7 | 372.4 | 157.9 | 482.8 | 287.9 | 353.8 | 1,324.40 | 1,282.40 | 1,508.10 | |||||||||||
Net income | 147.3 | 298.4 | 299.6 | 287.2 | 142.3 | 492.5 | 302.2 | 256.3 | 1,032.50 | 1,193.30 | 1,261.50 | |||||||||||
Income from continuing operations attributable to Air Products | 150.2 | 287.8 | 289.3 | 276.9 | 137.1 | 357.2 | 279 | 225.9 | 1,004.20 | 999.2 | 1,134.30 | |||||||||||
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | -13.1 | 0.6 | 1.1 | 1.4 | 1.6 | 127.3 | 17 | 22.2 | -10 | 168.1 | 89.9 | |||||||||||
Net Income Attributable to Air Products | $137.10 | $288.40 | $290.40 | $278.30 | $138.70 | $484.50 | $296 | $248.10 | $994.20 | $1,167.30 | $1,224.20 | |||||||||||
Basic Earnings Per Common Share Attributable to Air Products | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Income from continuing operations | $0.71 | $1.38 | $1.38 | $1.32 | $0.65 | $1.69 | $1.32 | $1.07 | $4.79 | $4.73 | $5.33 | |||||||||||
Income (loss) from discontinued operations | ($0.06) | $0 | $0.01 | $0.01 | $0.01 | $0.60 | $0.08 | $0.11 | ($0.05) | $0.80 | $0.42 | |||||||||||
Net Income Attributable to Air Products | $0.65 | $1.38 | $1.39 | $1.33 | $0.66 | $2.29 | $1.40 | $1.18 | $4.74 | $5.53 | $5.75 | |||||||||||
Diluted Earnings Per Common Share Attributable to Air Products | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Income from continuing operations | $0.70 | $1.36 | $1.37 | $1.30 | $0.64 | $1.66 | $1.30 | $1.06 | $4.73 | $4.66 | $5.22 | |||||||||||
Income (loss) from discontinued operations | ($0.06) | $0 | $0.01 | $0.01 | $0.01 | $0.60 | $0.08 | $0.10 | ($0.05) | $0.78 | $0.41 | |||||||||||
Net Income Attributable to Air Products | $0.64 | $1.36 | $1.38 | $1.31 | $0.65 | $2.26 | $1.38 | $1.16 | $4.68 | $5.44 | $5.63 | |||||||||||
Dividends per common share | $0.71 | $0.71 | $0.71 | $0.64 | $0.64 | $0.64 | $0.64 | $0.58 | $2.77 | $2.50 | $2.23 | |||||||||||
Market Price Per Share High | $114.75 | $97.12 | $90.34 | $86.31 | $85.83 | $92.79 | $92.48 | $90.20 | ' | ' | ' | |||||||||||
Market Price Per Share Low | $90.12 | $84.04 | $84.15 | $76.78 | $77.21 | $76.11 | $85.60 | $72.26 | ' | ' | ' | |||||||||||
[1] | For additional information, see Note 4, Business Restructuring and Cost Reduction Plans. | |||||||||||||||||||||
[2] | Information about how this charge related to the businesses at the segment level is discussed in Note 4, Business Restructuring and Cost Reduction Plans. | |||||||||||||||||||||
[3] | For additional information, see Note 5, Business Combinations. | |||||||||||||||||||||
[4] | For additional information, see Note 23, Supplemental Information. | |||||||||||||||||||||
[5] | For additional information, see Note 16, Retirement Benefits. During the third quarter, the pension settlements loss of $4.5 was presented in other income (expense), net. |
Business_Segment_and_Geographi2
Business Segment and Geographic Information (Schedule of Revenue from External Customers Information) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales to External Customers | $2,586.50 | $2,547.30 | $2,484.20 | $2,562.40 | $2,605.80 | $2,340.10 | $2,344.30 | $2,321.50 | $10,180.40 | $9,611.70 | $9,673.70 |
Revenue from customers in excess of 10 percent | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | ' | ' |
Merchant Gases [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales to External Customers | ' | ' | ' | ' | ' | ' | ' | ' | 4,098.60 | 3,662.40 | 3,664.90 |
Tonnage Gases [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales to External Customers | ' | ' | ' | ' | ' | ' | ' | ' | 3,387.30 | 3,206.70 | 3,316.70 |
Electronics and Performance Materials [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales to External Customers | ' | ' | ' | ' | ' | ' | ' | ' | 2,243.40 | 2,322.50 | 2,291.50 |
Equipment and Energy [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales to External Customers | ' | ' | ' | ' | ' | ' | ' | ' | $451.10 | $420.10 | $400.60 |
Business_Segment_and_Geographi3
Business Segment and Geographic Information (Schedule of Income Information) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Business restructuring and cost reduction plans | ($231.60) | [1] | $0 | [1] | $0 | [1] | $0 | [1] | ($240.60) | [1] | $0 | [1] | ($86.80) | [1] | $0 | [1] | ($231.60) | [2] | ($327.40) | [2] | $0 | [2] |
Net loss on Airgas transaction | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -48.5 | |||||||||||
Customer bankruptcy | ' | ' | ' | ' | -9.8 | [3] | 0 | [3] | 0 | [3] | 0 | [3] | 0 | -9.8 | 0 | |||||||
Pension settlement loss | 7.9 | [4] | 4.5 | [4] | 0 | [4] | 0 | [4] | ' | ' | ' | ' | 12.4 | 0 | 0 | |||||||
Advisory costs | 10.1 | [3] | 0 | [3] | 0 | [3] | 0 | [3] | ' | ' | ' | ' | 10.1 | 0 | 0 | |||||||
Other | ' | ' | ' | ' | ' | ' | ' | ' | -4.7 | [5] | -6.6 | [5] | -39.3 | [5] | ||||||||
Operating income | 179.2 | 383.1 | 389.7 | 372.4 | 157.9 | 482.8 | 287.9 | 353.8 | 1,324.40 | 1,282.40 | 1,508.10 | |||||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 907 | 840.8 | 834.3 | |||||||||||
Income (Loss) from Equity Method Investments | ' | ' | ' | ' | ' | ' | ' | ' | 167.8 | 153.8 | 154.3 | |||||||||||
Merchant Gases [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 680.5 | 644 | 668.9 | |||||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 409.5 | 363.2 | 356.9 | |||||||||||
Income (Loss) from Equity Method Investments | ' | ' | ' | ' | ' | ' | ' | ' | 145 | 137.1 | 134.6 | |||||||||||
Tonnage Gases [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 515.9 | 512 | 503.1 | |||||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 314.8 | 320.4 | 310.9 | |||||||||||
Electronics and Performance Materials [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 321.3 | [6] | 425.6 | [6] | 361.1 | [6] | ||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 173.4 | 144.1 | 154.9 | |||||||||||
Equipment and Energy [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 65.5 | 44.6 | 62.8 | |||||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 8.3 | 12.2 | 11 | |||||||||||
Segment Total [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 1,583.20 | 1,626.20 | 1,595.90 | |||||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 906 | 839.9 | 833.7 | |||||||||||
All Other Segments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 0.9 | 0.6 | |||||||||||
Income (Loss) from Equity Method Investments | ' | ' | ' | ' | ' | ' | ' | ' | $22.80 | $16.70 | $19.70 | |||||||||||
[1] | For additional information, see Note 4, Business Restructuring and Cost Reduction Plans. | |||||||||||||||||||||
[2] | Information about how this charge related to the businesses at the segment level is discussed in Note 4, Business Restructuring and Cost Reduction Plans. | |||||||||||||||||||||
[3] | For additional information, see Note 23, Supplemental Information. | |||||||||||||||||||||
[4] | For additional information, see Note 16, Retirement Benefits. During the third quarter, the pension settlements loss of $4.5 was presented in other income (expense), net. | |||||||||||||||||||||
[5] | B B B Includes stranded costs resulting from discontinued operations. | |||||||||||||||||||||
[6] | B B B Includes the gain on remeasuring our previously held equity interest in DA NanoMaterials. For additional information, see Note 5, Business Combinations. |
Business_Segment_and_Geographi4
Business Segment and Geographic Information (Schedule of Assets Information) (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Total Assets | $17,850.10 | $16,941.80 | $14,290.70 | |||
Investment in net assets of and advances to equity affiliates | 1,195.50 | 1,175.70 | 1,011.60 | |||
Identifiable Assets | 16,654.60 | 15,766.10 | 13,279.10 | |||
Expenditures for Long Lived Assets | 1,524.20 | [1] | 1,521 | [1] | 1,309.30 | [1] |
Merchant Gases [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Total Assets | 7,742.20 | 7,411.90 | 5,380 | |||
Investment in net assets of and advances to equity affiliates | 1,012.30 | 983.4 | 800.4 | |||
Identifiable Assets | 6,729.90 | 6,428.50 | 4,579.60 | |||
Expenditures for Long Lived Assets | 558.7 | [1] | 523.6 | [1] | 390.5 | [1] |
Tonnage Gases [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Total Assets | 5,528.20 | 5,192.20 | 4,581.80 | |||
Identifiable Assets | 5,397 | 5,059.80 | 4,464.30 | |||
Expenditures for Long Lived Assets | 448 | [1] | 630.7 | [1] | 669.9 | [1] |
Electronics and Performance Materials [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Total Assets | 2,891.50 | 2,969.60 | 2,560.70 | |||
Identifiable Assets | 2,859.40 | 2,930.30 | 2,488.90 | |||
Expenditures for Long Lived Assets | 226.8 | [1] | 280.8 | [1] | 196 | [1] |
Equipment and Energy [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Total Assets | 695.1 | 399.9 | 357.5 | |||
Identifiable Assets | 675.2 | 379.3 | 335.6 | |||
Expenditures for Long Lived Assets | 290.7 | [1] | 85.9 | [1] | 45.9 | [1] |
Segment Total [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Total Assets | 16,857 | 15,973.60 | 12,880 | |||
Identifiable Assets | 15,661.50 | 14,797.90 | 11,868.40 | |||
Expenditures for Long Lived Assets | 1,524.20 | [1] | 1,521 | [1] | 1,302.30 | [1] |
All Other Segments [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Total Assets | 990.6 | 925.4 | 878.6 | |||
Investment in net assets of and advances to equity affiliates | 183.2 | 192.3 | 211.2 | |||
Identifiable Assets | 990.6 | 925.4 | 878.6 | |||
Expenditures for Long Lived Assets | 0 | [1] | 0 | [1] | 7 | [1] |
Discontinued Operations [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Total Assets | 2.5 | 42.8 | 532.1 | |||
Identifiable Assets | $2.50 | $42.80 | $532.10 | |||
[1] | B B B Includes plant and equipment. |
Business_Segment_and_Geographi5
Business Segment and Geographic Information (Schedule of Geographic Information) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |||||
Revenue from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Sales to External Customers | $2,586.50 | $2,547.30 | $2,484.20 | $2,562.40 | $2,605.80 | $2,340.10 | $2,344.30 | $2,321.50 | $10,180.40 | $9,611.70 | $9,673.70 | |||||
Long Lived Assets | 8,974 | ' | ' | ' | 8,240.60 | ' | ' | ' | 8,974 | 8,240.60 | 7,222.70 | |||||
United States | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenue from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Sales to External Customers | ' | ' | ' | ' | ' | ' | ' | ' | 4,258.40 | 4,114.50 | 4,252.50 | |||||
Long Lived Assets | 3,632.10 | [1] | ' | ' | ' | 3,534.40 | [1] | ' | ' | ' | 3,632.10 | [1] | 3,534.40 | [1] | 3,099.20 | [1] |
Canada | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenue from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Sales to External Customers | ' | ' | ' | ' | ' | ' | ' | ' | 275.5 | 267.6 | 297 | |||||
Long Lived Assets | 522.3 | [1] | ' | ' | ' | 571.3 | [1] | ' | ' | ' | 522.3 | [1] | 571.3 | [1] | 566.1 | [1] |
Europe [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenue from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Sales to External Customers | ' | ' | ' | ' | ' | ' | ' | ' | 2,602.10 | 2,588.50 | 2,773.80 | |||||
Long Lived Assets | 2,068.80 | [1] | ' | ' | ' | 1,760.10 | [1] | ' | ' | ' | 2,068.80 | [1] | 1,760.10 | [1] | 1,650 | [1] |
Asia excluding China [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenue from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Sales to External Customers | ' | ' | ' | ' | ' | ' | ' | ' | 1,320.10 | 1,349.90 | 1,307.90 | |||||
Long Lived Assets | 962.3 | [1] | ' | ' | ' | 948.1 | [1] | ' | ' | ' | 962.3 | [1] | 948.1 | [1] | 954.2 | [1] |
China [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenue from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Sales to External Customers | ' | ' | ' | ' | ' | ' | ' | ' | 1,008.30 | 954.1 | 814.2 | |||||
Long Lived Assets | 1,281.70 | [1] | ' | ' | ' | 918.5 | [1] | ' | ' | ' | 1,281.70 | [1] | 918.5 | [1] | 832 | [1] |
Latin America Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenue from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Sales to External Customers | ' | ' | ' | ' | ' | ' | ' | ' | 716 | 337.1 | 228.3 | |||||
Long Lived Assets | $506.80 | [1] | ' | ' | ' | $508.20 | [1] | ' | ' | ' | $506.80 | [1] | $508.20 | [1] | $121.20 | [1] |
[1] | B B B Long-lived assets include plant and equipment, net. |
Business_Segment_and_Geographi6
Business Segment and Geographic Information (Narratives) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract] | ' | ' | ' |
Export Sales To Unconsolidated Customers | $410.30 | $521.10 | $537.30 |
Schedule_II_Valuation_And_Qual
Schedule II - Valuation And Qualifying Accounts (Schedule Of Valuation And Qualifying Accounts) (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |||
Allowance for Doubtful Accounts [Member] | ' | ' | ' | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' | |||
Balance at Beginning of Period | $104 | $78 | $79 | |||
Charged to Expense | 9 | 21 | 16 | |||
Charged to Other Accounts | 19 | 16 | 7 | |||
Cumulative Translation Adjustment | 1 | 1 | -1 | |||
Other | -31 | [1] | -12 | [1] | -23 | [1] |
Balance at End of Period | 102 | 104 | 78 | |||
Allowance for deferred tax assets [Member] | ' | ' | ' | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' | |||
Balance at Beginning of Period | 37 | 28 | 55 | |||
Charged to Expense | 8 | 9 | -27 | |||
Charged to Other Accounts | 0 | 0 | 0 | |||
Cumulative Translation Adjustment | 0 | 0 | 0 | |||
Other | 0 | [1] | 0 | [1] | 0 | [1] |
Balance at End of Period | $45 | $37 | $28 | |||
[1] | Primarily write-offs of uncollectible trade receivable accounts. |