Document_Entity_Information
Document Entity Information (USD $) | 12 Months Ended | ||
In Billions, except Share data, unless otherwise specified | Sep. 30, 2014 | Oct. 31, 2014 | Mar. 31, 2014 |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 30-Sep-14 | ' | ' |
Document Fiscal Year Focus | '2014 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Current Fiscal Year End Date | '--09-30 | ' | ' |
Entity Registrant Name | 'AIR PRODUCTS & CHEMICALS INC /DE/ | ' | ' |
Entity Central Index Key | '0000002969 | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Public Float | ' | ' | $25.30 |
Entity Common Stock, Shares Outstanding | ' | 213,710,798 | ' |
Consolidated_Income_Statements
Consolidated Income Statements (USD $) | 12 Months Ended | |||||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |||
Consolidated Income Statements [Abstract] | ' | ' | ' | |||
Sales | $10,439 | $10,180.40 | $9,611.70 | |||
Cost of sales | 7,634.60 | 7,472.10 | 7,051.90 | |||
Selling and administrative | 1,059.30 | 1,066.30 | 946.8 | |||
Research and development | 141.4 | 133.7 | 126.4 | |||
Business restructuring and cost reduction actions | 12.7 | [1],[2] | 231.6 | [1],[2] | 327.4 | [1],[2] |
Pension settlement loss | 5.5 | [3] | 12.4 | [3] | 0 | [3] |
Goodwill and intangible asset impairment charge | 310.1 | [4] | 0 | [4] | 0 | [4] |
Gain on previously held equity interest | 0 | 0 | 85.9 | |||
Customer bankruptcy | 0 | 0 | 9.8 | |||
Advisory costs | 0 | 10.1 | [5] | 0 | ||
Other income (expense), net | 52.8 | 70.2 | 47.1 | |||
Operating Income | 1,328.20 | 1,324.40 | 1,282.40 | |||
Equity affiliates' income | 151.4 | 167.8 | 153.8 | |||
Interest expense | 125.1 | 141.8 | 123.7 | |||
Income from Continuing Operations before Taxes | 1,354.50 | 1,350.40 | 1,312.50 | |||
Income tax provision | 366 | 307.9 | 287.3 | |||
Income from Continuing Operations | 988.5 | 1,042.50 | 1,025.20 | |||
Income (loss) from Discontinued Operations, net of tax | 4.6 | -10 | 168.1 | |||
Net Income | 993.1 | 1,032.50 | 1,193.30 | |||
Less: Net Income Attributable to Noncontrolling Interests | 1.4 | 38.3 | 26 | |||
Net Income Attributable to Air Products | 991.7 | 994.2 | 1,167.30 | |||
Net Income Attributable to Air Products | ' | ' | ' | |||
Income from continuing operations | 987.1 | 1,004.20 | 999.2 | |||
Income (loss) from discontinued operations | 4.6 | -10 | 168.1 | |||
Net Income Attributable to Air Products | $991.70 | $994.20 | $1,167.30 | |||
Basic Earnings Per Common Share Attributable to Air Products | ' | ' | ' | |||
Income from continuing operations | $4.64 | $4.79 | $4.73 | |||
Income (loss) from discontinued operations | $0.02 | ($0.05) | $0.80 | |||
Net Income Attributable to Air Products | $4.66 | $4.74 | $5.53 | |||
Diluted Earnings Per Common Share Attributable to Air Products | ' | ' | ' | |||
Income from continuing operations | $4.59 | $4.73 | $4.66 | |||
Income (loss) from discontinued operations | $0.02 | ($0.05) | $0.78 | |||
Net Income Attributable to Air Products | $4.61 | $4.68 | $5.44 | |||
Weighted Average of Common Shares Outstanding (in millions) | 212.7 | 209.7 | 211.2 | |||
Weighted Average of Common Shares Outstanding Assuming Dilution (in millions) | 215.2 | 212.3 | 214.7 | |||
[1] | For additional information, see Note 4, Business Restructuring and Cost Reduction Actions. | |||||
[2] | Information about how this charge related to the businesses at the segment level is discussed in Note 4, Business Restructuring and Cost Reduction Actions. | |||||
[3] | For additional information, see Note 15, Retirement Benefits. | |||||
[4] | For additional information, see Note 9, Goodwill and Note 10, Intangible Assets. | |||||
[5] | For additional information, see Note 23, Supplemental Information. |
Consolidated_Comprehensive_Inc
Consolidated Comprehensive Income Statement (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Other Comprehensive Income (Loss), net of tax [Abstract] | ' | ' | ' |
Net Income | $993.10 | $1,032.50 | $1,193.30 |
Translation adjustments, net of tax | -213.1 | -25 | 84.6 |
Net gain (loss) on derivatives, net of tax | -15.2 | 35 | -21.8 |
Pension and postretirement benefits, net of tax | -74.2 | 231.9 | -246 |
Reclassification Adjustments [Abstract] | ' | ' | ' |
Currency translation adjustment | 0 | 0.6 | 13.3 |
Derivatives, net of tax | -9.1 | -20.2 | 12.4 |
Pension and postretirement benefits, net of tax | 84.7 | 104.9 | 67 |
Total Other Comprehensive Income (Loss) | -226.9 | 327.2 | -90.5 |
Comprehensive Income | 766.2 | 1,359.70 | 1,102.80 |
Net income attributable to noncontrolling interests | 1.4 | 38.3 | 26 |
Other Comprehensive Income (Loss) Attributable to Noncontrolling Interests | -5.6 | -1 | 4.9 |
Comprehensive Income Attributable to Air Products | $770.40 | $1,322.40 | $1,071.90 |
Consolidated_Comprehensive_Inc1
Consolidated Comprehensive Income Statements (Parenthetical) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Consolidated Comprehensive Income Statements [Abstract] | ' | ' | ' |
Tax effect on translation adjustments | $36.50 | ($44.80) | $8.90 |
Tax effect on net gain (loss) on derivatives | -13.6 | 14.5 | -9.8 |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Before Reclassification Adjustments Tax | -28 | 154.8 | -124.6 |
Tax effect on derivatives reclassified to earnings | -1.9 | -5.5 | 5 |
Tax effect on pension and post retirement benefits reclassified | $40 | $55.90 | $36.50 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2014 | Sep. 30, 2013 | ||
In Millions, unless otherwise specified | ||||
Current Assets | ' | ' | ||
Cash and cash items | $336.60 | $450.40 | ||
Trade receivables, net | 1,486 | 1,544.30 | ||
Inventories | 706 | 706.1 | ||
Contracts in progress, less progress billings | 155.4 | 182.3 | ||
Prepaid expenses | 87.8 | 121.1 | ||
Other receivables and current assets | 523 | 432.4 | ||
Current assets of discontinued operations | 0 | 2.5 | ||
Total Current Assets | 3,294.80 | 3,439.10 | ||
Investment in net assets of and advances to equity affiliates | 1,257.90 | 1,195.50 | ||
Plant and Equipment, net | 9,532.10 | [1] | 8,974 | [1] |
Goodwill, net | 1,237.30 | 1,653.80 | ||
Intangible assets, net | 615.8 | 717.3 | ||
Noncurrent capital lease receivables | 1,414.90 | 1,476.90 | ||
Other noncurrent assets | 426.3 | 393.5 | ||
Total Noncurrent Assets | 14,484.30 | 14,411 | ||
Total Assets | 17,779.10 | 17,850.10 | ||
Current Liabilities | ' | ' | ||
Payables and accrued liabilities | 1,591 | 1,944.90 | ||
Accrued income taxes | 78 | 63 | ||
Short-term borrowings | 1,228.70 | 709.9 | ||
Current portion of long-term debt | 65.3 | 507.4 | ||
Current liabilities of discontinued operations | 0 | 2.4 | ||
Total Current Liabilities | 2,963 | 3,227.60 | ||
Long-term debt | 4,824.50 | 5,056.30 | ||
Other noncurrent liabilities | 1,187.50 | 1,164.30 | ||
Deferred income taxes | 995.5 | 827.2 | ||
Total Noncurrent Liabilities | 7,007.50 | 7,047.80 | ||
Total Liabilities | 9,970.50 | 10,275.40 | ||
Commitments and Contingencies - See Note 16 | ' | ' | ||
Redeemable Noncontrolling Interest | 287.2 | 375.8 | ||
Air Products Shareholders' Equity | ' | ' | ||
Common stock (par value $1 per share; issued 2014 and 2013-249,455,584 shares) | 249.4 | 249.4 | ||
Capital in excess of par value | 842 | 799.2 | ||
Retained earnings | 9,993.20 | 9,646.40 | ||
Accumulated other comprehensive loss | -1,241.90 | -1,020.60 | ||
Treasury stock, at cost (2014 - 35,917,440 shares; 2013 - 38,276,327 shares) | -2,476.90 | -2,632.30 | ||
Total Air Products Shareholders' Equity | 7,365.80 | 7,042.10 | ||
Noncontrolling Interests | 155.6 | 156.8 | ||
Total Equity | 7,521.40 | 7,198.90 | ||
Total Liabilities and Equity | $17,779.10 | $17,850.10 | ||
[1] | Long-lived assets include plant and equipment, net. |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
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 | 35,917,440 | 38,276,327 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |||
Operating Activities | ' | ' | ' | |||
Net Income | $993.10 | $1,032.50 | $1,193.30 | |||
Less: Net income attributable to noncontrolling interests | 1.4 | 38.3 | 26 | |||
Net Income Attributable to Air Products | 991.7 | 994.2 | 1,167.30 | |||
(Income) loss from discontinued operations | -4.6 | 10 | -168.1 | |||
Income from continuing operations attributable to Air Products | 987.1 | 1,004.20 | 999.2 | |||
Adjustments to reconcile income to cash provided by operating activities: | ' | ' | ' | |||
Depreciation and amortization | 956.9 | 907 | 840.8 | |||
Deferred income taxes | 125.5 | 12.8 | 65.2 | |||
Benefit from Spanish tax ruling | 0 | 0 | -58.3 | |||
Gain on previously held equity interest | 0 | 0 | -85.9 | |||
Undistributed earnings of unconsolidated affiliates | -76 | -59.2 | -53.6 | |||
Loss (Gain) on sale of assets and investments | 4.3 | -20 | -8.4 | |||
Share-based compensation | 44 | 43.5 | 43.8 | |||
Noncurrent capital lease receivables | 20 | -151.4 | -282.5 | |||
Goodwill and intangible asset impairment charge | 310.1 | [1] | 0 | [1] | 0 | [1] |
Write-down of long-lived assets associated with restructuring/customer bankruptcy | 0 | 100.4 | 80.2 | |||
Other adjustments | 61 | -76.4 | 124.5 | |||
Working capital changes that provided (used) cash, excluding effects of acquisitions and divestitures: | ' | ' | ' | |||
Trade receivables | -2.7 | 4.8 | -55.1 | |||
Inventories | -23.5 | 75 | 1.3 | |||
Contracts in progress, less progress billings | -5.4 | -16.2 | -42.9 | |||
Other receivables | -33 | -77 | -18.3 | |||
Payables and accrued liabilities | -234.8 | -130.3 | 249.7 | |||
Other working capital | 52.9 | -64.1 | -34.6 | |||
Cash Provided by Operating Activities | 2,186.40 | 1,553.10 | 1,765.10 | |||
Investing Activities | ' | ' | ' | |||
Additions to plant and equipment | -1,684.20 | [2] | -1,524.20 | [2] | -1,521 | [2] |
Acquisitions, less cash acquired | 0 | -224.9 | -863.4 | |||
Investment in and advances to unconsolidated affiliates | ' | ' | -175.4 | |||
Proceeds from collection of advance to affiliate | 2 | 1.3 | ' | |||
Proceeds from sale of assets and investments | 45.6 | 52.8 | 52.5 | |||
Change in restricted cash | 0 | 0 | 76.1 | |||
Other investing activities | -1.4 | -2 | -4 | |||
Cash Used for Investing Activities | -1,638 | -1,697 | -2,435.20 | |||
Financing Activities | ' | ' | ' | |||
Long-term debt proceeds | 461 | 927.2 | 900.4 | |||
Payments on long-term debt | -608.6 | -437.5 | -490.6 | |||
Net increase (decrease) in commercial paper and short-term borrowings | 148.7 | 437.7 | 9.8 | |||
Dividends paid to shareholders | -627.7 | -565.6 | -514.9 | |||
Purchase of treasury shares | 0 | -461.6 | -53.1 | |||
Proceeds from stock option exercises | 141.6 | 226.4 | 124.3 | |||
Excess tax benefit from share-based compensation | 28.3 | 37.9 | 31 | |||
Payment for subsidiary shares from noncontrolling interests | -0.5 | -14 | -58.4 | |||
Other financing activities | -47.1 | -35.1 | -26.9 | |||
Cash Provided By (Used for) Financing Activities | -504.3 | 115.4 | -78.4 | |||
Discontinued Operations | ' | ' | ' | |||
Cash provided by operating activities | 0.7 | 14.3 | 33.6 | |||
Cash provided by (used for) investing activities | 9.8 | -1.2 | 765.4 | |||
Cash provided by (used for) financing activities | -157.1 | 0 | 0 | |||
Cash Provided by (Used for) Discontinued Operations | -146.6 | 13.1 | 799 | |||
Effect of Exchange Rate Changes on Cash | -11.3 | 11.4 | -18.6 | |||
Increase (Decrease) in Cash and Cash Items | -113.8 | -4 | 31.9 | |||
Cash and Cash Items - Beginning of Year | 450.4 | 454.4 | 422.5 | |||
Cash and Cash Items - End of Period | 336.6 | 450.4 | 454.4 | |||
Less: Cash and Cash Items - Discontinued Operations | 0 | 0 | 0 | |||
Cash and Cash Items - Continuing Operations | $336.60 | $450.40 | $454.40 | |||
[1] | For additional information, see Note 9, Goodwill and Note 10, Intangible Assets. | |||||
[2] | Includes plant and equipment. |
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, 2011 | $5,938.70 | $249.40 | $805.60 | $8,599.50 | ($1,253.40) | ($2,605.30) | $5,795.80 | $142.90 |
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 |
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 | ' |
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 | 249.4 | 799.2 | 9,646.40 | -1,020.60 | -2,632.30 | 7,042.10 | 156.8 |
Net Income | 1,020.50 | ' | ' | 991.7 | ' | ' | 991.7 | 28.8 |
Other comprehensive income (loss) | -226.9 | ' | ' | ' | -221.3 | ' | -221.3 | -5.6 |
Cash Dividends | -641.8 | ' | ' | -641.8 | ' | ' | -641.8 | ' |
Share-based compensation expense | 44 | ' | 44 | ' | ' | ' | 44 | ' |
Issuance of treasury shares for stock option and award plans | 125.4 | ' | -30 | ' | ' | 155.4 | 125.4 | ' |
Tax benefit of stock option and award plans | 29.3 | ' | 29.3 | ' | ' | ' | 29.3 | ' |
Dividends to noncontrolling interests | -24.4 | ' | ' | ' | ' | ' | ' | -24.4 |
Purchase of noncontrolling interests | -0.5 | ' | -0.5 | ' | ' | ' | -0.5 | ' |
Other | -3.1 | ' | ' | -3.1 | ' | ' | -3.1 | ' |
Balance, end of period at Sep. 30, 2014 | $7,521.40 | $249.40 | $842 | $9,993.20 | ($1,241.90) | ($2,476.90) | $7,365.80 | $155.60 |
Consolidated_Statements_of_Equ1
Consolidated Statements of Equity (Parenthetical) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
Statement of Stockholders' Equity [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends per share | $0.77 | $0.77 | $0.77 | $0.71 | $0.71 | $0.71 | $0.71 | $0.64 | $3.02 | $2.77 | $2.50 |
Major_Accounting_Policies
Major Accounting Policies | 12 Months Ended |
Sep. 30, 2014 | |
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 has both the power to direct the activities that most significantly impact the economic performance of a VIE and the obligation to absorb the losses or receive the benefits significant to the VIE is considered the 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 2014 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 2014, 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 8, 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 Actions, 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 13, 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 12, Financial Instruments, for further detail on the types and use of derivative instruments into which we enter. | |
Major financial institutions are counterparties to all of these derivative contracts. We have established counterparty credit guidelines and 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 (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 $35.1 in fiscal 2014, $37.1 in 2013, and $44.7 in 2012. | |
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 16, 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 16, 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 18, 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 allowance also includes 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. Allowance for doubtful accounts were $60.1 and $101.7 as of fiscal year end 30 September 2014 and 2013, respectively. Provisions to the allowance for doubtful accounts charged against income were $16.4, $27.6 and $36.8 in 2014, 2013, and 2012, 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 6, 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 7, 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 8, Plant and Equipment, net, for further detail. | |
Computer Software | |
We capitalize costs incurred to purchase or develop software for internal use. Capitalized costs include purchased computer software packages, payments to vendors/consultants for development and implementation or modification to a purchased package to meet our requirements, payroll and related costs for employees directly involved in development, and interest incurred while software is being developed. Capitalized 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 $33.0, $25.8, and $30.2 in 2014, 2013, and 2012, 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 that are largely independent of the cash flows of other assets and liabilities and are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. We assess recoverability by comparing the carrying amount of the asset group to estimated undiscounted future cash flows expected to be generated by the asset group. If an asset group is considered impaired, the impairment loss to be recognized is measured as the amount by which the asset group’s carrying amount exceeds its fair value. Long-lived assets 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. Our asset retirement obligations are primarily associated with Tonnage Gases on-site long-term supply contracts, under which we have built a facility on land owned by the customer and are obligated to remove the facility at the end of the contract term. Our asset retirement obligations totaled $94.0 and $89.8 at 30 September 2014 and 2013, 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 9, 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 10, 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 15, Retirement Benefits, for disclosures related to our pension and other postretirement benefits. |
New_Accounting_Guidance
New Accounting Guidance | 12 Months Ended |
Sep. 30, 2014 | |
New Accounting Guidance [Abstract] | ' |
New Accounting Guidance | ' |
2. NEW ACCOUNTING GUIDANCE | |
Accounting Guidance Implemented in 2014 | |
AMOUNTS RECLASSIFIED OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME | |
In February 2013, the Financial Accounting Standards Board (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 disclosure guidance was effective for us beginning in the first quarter of fiscal year 2014 and did not have a material impact on our consolidated financial statements. Refer to Note 19, Accumulated Other Comprehensive Loss, for the required disclosures. | |
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. We adopted this guidance at the beginning of fiscal year 2014. This guidance did not have an impact on our consolidated financial statements. | |
New Accounting Guidance to Be Implemented | |
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 fiscal year 2015, with early adoption permitted. We do not expect this guidance to have a significant impact on our consolidated financial statements. | |
DISCONTINUED OPERATIONS | |
In April 2014, the FASB issued an update to change the criteria for determining which disposals qualify as a discontinued operation and to expand related disclosure requirements. Under the new guidance, a disposal is required to be reported in discontinued operations if the disposal represents a strategic shift that has or will have a major effect on operations and financial results. This guidance will be effective prospectively for new disposals and new disposal groups classified as held for sale beginning in fiscal year 2016, with early adoption permitted. | |
REVENUE RECOGNITION | |
In May 2014, the FASB issued guidance based on the principle that revenue is recognized in an amount expected to be collected and to which the entity expects to be entitled in exchange for the transfer of goods or services. This guidance is effective for us beginning in fiscal year 2018 and can be adopted either retrospectively or as a cumulative-effect adjustment as of the date of adoption. Early adoption is not permitted. We are currently evaluating the adoption alternatives and impact that this update will have on our consolidated financial statements. | |
SHARE-BASED COMPENSATION | |
In June 2014, the FASB issued guidance clarifying that share-based compensation performance targets that could be achieved after the requisite service period should be treated as a performance condition that affects vesting, rather than a condition that affects the grant-date fair value, of the award. This guidance is effective for us beginning in fiscal year 2017, with early adoption permitted. We do not expect this guidance to have a significant impact on our consolidated financial statements. | |
GOING CONCERN | |
In August 2014, the FASB issued guidance regarding management's responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern within one year of the issuance of the financial statements. If substantial doubt exists, additional disclosures would be required. This guidance will be effective beginning in the fourth quarter of fiscal year 2017, with early adoption permitted. This guidance will not have a significant impact on our consolidated financial statements. |
Discontinued_Operations
Discontinued Operations | 12 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
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. This business has been accounted for as a discontinued operation. | |||||||||
In the third quarter of 2012, we sold the majority of our Homecare business to The Linde Group for sale proceeds of €590 million ($777) and recognized a gain of $207.4 ($150.3 after-tax, or $.70 per share). The sale proceeds included €110 million ($144) that was contingent on the outcome of certain retender arrangements. These proceeds were reflected in payables and accrued liabilities on our consolidated balance sheet as of 30 September 2013. Based on the outcome of the retenders, we were contractually required to return proceeds to The Linde Group. In the fourth quarter of 2014, we made a payment to settle this liability and recognized a gain of $1.5. | |||||||||
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 was primarily in the United Kingdom and Ireland, to its estimated net realizable value. In the fourth quarter of 2013, an additional charge of $18.7 ($13.6 after-tax, or $.06 per share) was recorded to update our estimate of the net realizable value. In the first quarter of 2014, we sold the remaining portion of the Homecare business for £6.1 million ($9.8) and recorded a gain on sale of $2.4. We entered into an operations guarantee related to the obligations under certain homecare contracts assigned in connection with the transaction. Refer to Note 16, Commitments and Contingencies, for additional information. | |||||||||
The results of discontinued operations are summarized below: | |||||||||
2014 | 2013 | 2012 | |||||||
Sales | $ | 8.5 | $ | 52.3 | $ | 258 | |||
Income before taxes | $ | 0.7 | $ | 3.8 | $ | 68.1 | |||
Income tax provision | - | 0.2 | 20.8 | ||||||
Income from operations of discontinued operations | 0.7 | 3.6 | 47.3 | ||||||
Gain (Loss) on sale of business and impairment/write-down, net of tax | 3.9 | -13.6 | 120.8 | ||||||
Income (Loss) from Discontinued Operations, net of tax | $ | 4.6 | $ | -10 | $ | 168.1 | |||
The assets and liabilities classified as discontinued operations for the Homecare business at 30 September 2013 consisted of $2.5 in trade receivables, net, and $2.4 in payables and accrued liabilities. As of 30 September 2014, no assets or liabilities were classified as discontinued operations. |
Business_Restructuring_and_Cos
Business Restructuring and Cost Reduction Actions | 12 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Business Restructuring and Cost Reduction Actions [Abstract] | ' | |||||||||||||||
Business Restructuring and Cost Reduction Actions | ' | |||||||||||||||
4. BUSINESS RESTRUCTURING AND COST REDUCTION ACTIONS | ||||||||||||||||
The charges we record for business restructuring and cost reduction actions have been excluded from segment operating income and are reflected on the consolidated income statements as “Business Restructuring and Cost Reduction Actions.” | ||||||||||||||||
2014 Charge | ||||||||||||||||
On 18 September 2014, we announced plans to reorganize the Company, including realignment of our businesses in new reporting segments and organizational changes, effective as of 1 October 2014. Refer to Note 25, Business Segment and Geographic Information, for additional details. As a result of this initiative, we will incur ongoing severance and other benefit charges. During the fourth quarter of 2014, an expense of $12.7 ($8.2 after-tax, or $.04 per share) was incurred relating to the elimination of approximately 50 positions. | ||||||||||||||||
The 2014 charge related to the businesses at the segment level as follows: $4.4 in Merchant Gases, $4.1 in Tonnage Gases, $2.4 in Electronics and Performance Materials, and $1.8 in Equipment and Energy. | ||||||||||||||||
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. The asset and contract actions primarily impacted the Electronics business due to continued weakness in the photovoltaic (PV) and light-emitting diode (LED) markets. The severance and other contractual benefits primarily impacted our Merchant Gases business and corporate functions 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 remaining planned actions associated with severance were completed in the first quarter of 2015. | ||||||||||||||||
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 2014: | ||||||||||||||||
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 | ||||||||||||
30-Sep-13 | $ | 62.4 | $ | - | $ | 0.8 | $ | 63.2 | ||||||||
Cash expenditures | -51.7 | - | -0.8 | -52.5 | ||||||||||||
Currency translation adjustment | -0.6 | - | - | -0.6 | ||||||||||||
30-Sep-14 | $ | 10.1 | $ | - | $ | - | $ | 10.1 | ||||||||
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. Dismantlement of our PUI production facility in Pasadena, Texas, was completed in fiscal year 2014. The costs to dismantle were 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. 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 2014: | ||||||||||||||||
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 | |||||||||||
30-Sep-13 | $ | 1.1 | $ | - | $ | 1.9 | $ | 0.9 | $ | 3.9 | ||||||
Cash expenditures | -1.1 | - | -1.9 | -0.9 | -3.9 | |||||||||||
30-Sep-14 | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||
(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 16, Commitments and Contingencies. |
Business_Combinations
Business Combinations | 12 Months Ended |
Sep. 30, 2014 | |
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. | |
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 hard goods, 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). Refer to Note 16, Commitments and Contingencies, and Note 20, Noncontrolling Interests, for additional information. As of 30 September 2014, we hold a 67.3% interest in Indura S.A. | |
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. Identifiable assets acquired, liabilities assumed, and resulting goodwill were recorded at fair value on the acquisition date. This acquisition resulted in $626.2 of goodwill, none of which was deductible for income tax purposes upon acquisition, and $92.6 of indefinite-lived intangibles for trade names and trademarks. | |
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.” |
Inventories
Inventories | 12 Months Ended | |||||
Sep. 30, 2014 | ||||||
Inventory Disclosure [Abstract] | ' | |||||
Inventories | ' | |||||
6. Inventories | ||||||
The components of inventories are as follows: | ||||||
30-Sep | 2014 | 2013 | ||||
Inventories at FIFO cost | ||||||
Finished goods | $ | 493.9 | $ | 527.3 | ||
Work in process | 34.1 | 38.7 | ||||
Raw materials, supplies and other | 283.4 | 234.9 | ||||
811.4 | 800.9 | |||||
Less: Excess of FIFO cost over LIFO cost | -105.4 | -94.8 | ||||
$ | 706 | $ | 706.1 | |||
Inventories valued using the LIFO method comprised 38.1% and 36.4% of consolidated inventories before LIFO adjustment at 30 September 2014 and 2013, respectively. Liquidation of LIFO inventory layers in 2014, 2013, and 2012 did not materially affect the results of operations. | ||||||
FIFO cost approximates replacement cost. Our inventories generally have 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, 2014 | |||||||||
Equity Method Investments and Joint Ventures [Abstract] | ' | ||||||||
Equity Method Investments and Joint Ventures Disclosure [Text Block] | ' | ||||||||
7. Summarized Financial Information of Equity Affiliates | |||||||||
The summarized financial information below is on a combined 100% basis and has been compiled based on the unaudited financial statements of the companies accounted for by the equity method. The amounts presented include the accounts of the following equity affiliates: | |||||||||
Abdullah Hashim Industrial Gases & Equipment Co., Ltd. (25%); | 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%); | |||||||||
30-Sep | 2014 | 2013 | |||||||
Current assets | $ | 1,440.00 | $ | 1,307.90 | |||||
Noncurrent assets | 2,464.60 | 2,396.10 | |||||||
Current liabilities | 745.2 | 795.2 | |||||||
Noncurrent liabilities | 743 | 648.6 | |||||||
Year Ended 30 September | 2014 | 2013 | 2012 | ||||||
Net sales | $ | 2,808.70 | $ | 2,845.90 | $ | 2,675.30 | |||
Sales less cost of sales | 984.7 | 1,003.30 | 937 | ||||||
Operating income | 542.9 | 547.3 | 529.7 | ||||||
Net income | 359.5 | 360.5 | 347.6 | ||||||
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. | |||||||||
Dividends received from equity affiliates were $75.4, $108.6, and $89.0 in 2014, 2013, and 2012, respectively. | |||||||||
The investment in net assets of and advances to equity affiliates as of 30 September 2014 and 2013 included investment in foreign affiliates of $1,254.7 and $1,191.3, respectively. | |||||||||
As of 30 September 2014 and 2013, the amount of investment in companies accounted for by the equity method included goodwill in the amount of $120.2 and $126.4, respectively. |
Plant_and_Equipment_net
Plant and Equipment, net | 12 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment Disclosure [Text Block] | ' | ||||||||
8. Plant and EquipmenT, Net | |||||||||
The major classes of plant and equipment are as follows: | |||||||||
Useful Life | |||||||||
30-Sep | in years | 2014 | 2013 | ||||||
Land | $ | 236.6 | $ | 240.5 | |||||
Buildings | 30 | 1,105.00 | 1,076.30 | ||||||
Production facilities (A) | |||||||||
Merchant Gases | 15 | 4,034.40 | 4,109.10 | ||||||
Tonnage Gases | 15 to 20 | 6,757.80 | 6,769.30 | ||||||
Electronics and Performance Materials | 10 to 15 | 2,057.10 | 2,193.90 | ||||||
Equipment and Energy | 5 to 20 | 94.4 | 172.4 | ||||||
Total production facilities | 12,943.70 | 13,244.70 | |||||||
Distribution and other machinery and equipment(B) | 5 to 25 | 4,175.30 | 3,674.40 | ||||||
Construction in progress | 1,762.90 | 1,294.00 | |||||||
Plant and equipment, at cost | 20,223.50 | 19,529.90 | |||||||
Less: accumulated depreciation | 10,691.40 | 10,555.90 | |||||||
Plant and equipment, net | $ | 9,532.10 | $ | 8,974.00 | |||||
(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 $914.8, $864.7, and $813.7 in 2014, 2013, and 2012, respectively. |
Goodwill
Goodwill | 12 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||
Goodwill | ' | |||||||||||
9. GOODWILL | ||||||||||||
Changes to the carrying amount of consolidated goodwill by segment are as follows: | ||||||||||||
Electronics and | ||||||||||||
Merchant | Tonnage | Performance | ||||||||||
Gases | Gases | Materials | Total | |||||||||
Goodwill, net 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 | ||||||||
Goodwill, net at 30 September 2013 | $ | 1,192.00 | $ | 15.2 | $ | 446.6 | $ | 1,653.80 | ||||
Impairment loss | -305.2 | - | - | -305.2 | ||||||||
Currency translation and other | -105.6 | -1.9 | -3.8 | -111.3 | ||||||||
Goodwill, net at 30 September 2014 | $ | 781.2 | $ | 13.3 | $ | 442.8 | $ | 1,237.30 | ||||
30-Sep | 2014 | 2013 | 2012 | |||||||||
Goodwill, gross | $ | 1,522.10 | $ | 1,653.80 | $ | 1,598.40 | ||||||
Accumulated impairment losses (A) | -284.8 | - | - | |||||||||
Goodwill, net | $ | 1,237.30 | $ | 1,653.80 | $ | 1,598.40 | ||||||
(A)Amount is attributable to the Merchant Gases segment and includes currency translation of $20.4. | ||||||||||||
Merchant Gases goodwill decreased during 2014, primarily due to the impairment charge taken during the fourth quarter in the Latin American reporting unit as discussed further below. Merchant Gases goodwill increased during 2013, primarily due to the acquisitions of EPCO and WCG. Refer to Note 5, Business Combinations, for further details on these acquisitions. | ||||||||||||
We conduct goodwill impairment testing in the fourth quarter of each fiscal year and whenever events and changes in circumstances indicate that the carrying value of goodwill might not be recoverable. Our goodwill impairment test involves a two-step process. In the first step, we estimate the fair value of each reporting unit and compare it to its carrying value. If the fair value of the reporting unit exceeds its carrying value, goodwill is not impaired and no further testing is required. If the fair value of the reporting unit is less than its carrying value, we perform a second step to determine the amount of goodwill impairment loss, if any. In the second step, the reporting unit’s fair value is allocated to the assets and liabilities of the reporting unit, including any unrecognized intangible assets, in an analysis that calculates the implied fair value of goodwill in the same manner as if the reporting unit were being acquired in a business combination. If the implied fair value of the reporting unit’s goodwill is less than its carrying value, the difference is recorded as a goodwill impairment charge. | ||||||||||||
In the fourth quarter of 2014, we determined that the fair value of each reporting unit exceeded its carrying value, with the exception of the Latin America reporting unit within the Merchant Gases segment. The Latin America reporting unit is composed predominately of our Indura business with assets and goodwill associated with operations in Chile and other Latin American countries. Recently, economic conditions in Latin America, including the impact of tax legislation in Chile, have been less favorable due to increasing inflation, a decline in Chilean manufacturing growth, and weaker export demand for many commodities. As a result, we lowered our growth projections this reporting unit and determined that the associated goodwill was impaired. We recorded a noncash goodwill impairment charge of $305.2 to write down goodwill to its implied fair value as of 1 July 2014. This impairment is reflected on our consolidated income statements within “Goodwill and intangible assets impairment charge.” As of 30 September 2014, accumulated impairment losses were $284.8, due to the currency impact on the loss recorded as of 1 July 2014. For additional information on our acquisition of Indura S.A, refer to Note 5, Business Combinations. | ||||||||||||
We estimated the fair value of the Latin America reporting unit based on the income and market approaches, which were driven principally by our expectations for the Indura business. Under the income approach, we estimated the fair value of the reporting unit based on the present value of estimated future cash flows. Cash flow projections were based on management’s estimates of revenue growth rates and operating margins, taking into consideration business and market conditions for the Latin American countries in which we operate. We calculated the discount rate based on a market-participant, risk-adjusted weighted-average cost of capital, which considers industry required rates of return on debt and equity capital for a target industry capital structure adjusted for risks associated with size and geography. For the market approach, fair value was estimated based on market multiples of revenue and earnings derived from publicly-traded industrial gases companies engaged in the same or similar lines of business as that of Latin America. We adjusted the market multiples of the comparable companies to reflect differences in size and growth prospects between Latin America and the comparable companies. We weighted the results of the income and market approaches equally in determining the fair value of Latin America. Management judgment is required in the determination of each assumption utilized in the valuation model, and actual results could differ from the estimates. | ||||||||||||
Prior to completing the goodwill impairment test, we tested the recoverability of the Latin America long-lived assets and concluded that they were not impaired. |
Intangible_Assets
Intangible Assets | 12 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||
Intangible Assets | ' | ||||||||||||||||||||
10. INTANGIBLE ASSETS | |||||||||||||||||||||
The table below provides details of acquired intangible assets: | |||||||||||||||||||||
30-Sep-14 | 30-Sep-13 | ||||||||||||||||||||
Accumulated | Accumulated | ||||||||||||||||||||
Amortization/ | Amortization/ | ||||||||||||||||||||
Gross | Impairment | Net | Gross | Impairment | Net | ||||||||||||||||
Customer relationships | $ | 577.8 | $ | -119 | $ | 458.8 | $ | 629.2 | $ | -97.3 | $ | 531.9 | |||||||||
Patents and technology | 82.4 | -52.2 | 30.2 | 91.3 | -52.1 | 39.2 | |||||||||||||||
Other | 84.7 | -32.5 | 52.2 | 91.5 | -35.9 | 55.6 | |||||||||||||||
Total finite-lived intangibles | 744.9 | -203.7 | 541.2 | 812 | -185.3 | 626.7 | |||||||||||||||
Trade names and trademarks, indefinite-lived | 79.3 | -4.7 | 74.6 | 90.6 | - | 90.6 | |||||||||||||||
Total Intangible Assets | $ | 824.2 | $ | -208.4 | $ | 615.8 | $ | 902.6 | $ | -185.3 | $ | 717.3 | |||||||||
Refer to Note 1, Major Accounting Policies, for amortization periods associated with our intangible assets. | |||||||||||||||||||||
Amortization expense for intangible assets was $42.1, $42.3, and $27.1 in 2014, 2013, and 2012, respectively. | |||||||||||||||||||||
In the fourth quarter of 2014, we conducted our annual impairment test of indefinite-lived intangibles utilizing the royalty savings method, a form of the income approach. We determined that the carrying value of trade names and trademarks were in excess of their fair value, and as a result, we recorded an impairment charge of $4.9 to reduce these assets to their fair value. This impairment is reflected within “Goodwill and intangible asset impairment charge” on our consolidated income statements. These trade names and trademarks are included in our Merchant Gases segment. Refer to Note 5, Business Combinations, for additional information. | |||||||||||||||||||||
Projected annual amortization expense for intangible assets as of 30 September 2014 is as follows: | |||||||||||||||||||||
2015 | $ | 38.8 | |||||||||||||||||||
2016 | 36.2 | ||||||||||||||||||||
2017 | 35.3 | ||||||||||||||||||||
2018 | 33.6 | ||||||||||||||||||||
2019 | 32.1 | ||||||||||||||||||||
Thereafter | 365.2 | ||||||||||||||||||||
Total | $ | 541.2 |
Leases
Leases | 12 Months Ended | |||||
Sep. 30, 2014 | ||||||
Leases [Abstract] | ' | |||||
Lessee Disclosure [Text Block] | ' | |||||
11. 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 $17.0 and $19.8 at 30 September 2014 and 2013, respectively. Related amounts of accumulated depreciation are $7.2 and $8.5, 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 $100.7 in 2014, $98.6 in 2013, and $91.1 in 2012. | ||||||
At 30 September 2014, minimum payments due under leases are as follows: | ||||||
Capital | Operating | |||||
Leases | Leases | |||||
2015 | $ | 0.6 | $ | 70.3 | ||
2016 | 0.5 | 47.9 | ||||
2017 | 0.5 | 34.2 | ||||
2018 | 0.3 | 27.2 | ||||
2019 | 0.1 | 19.1 | ||||
Thereafter | 1.7 | 116.3 | ||||
Total | $ | 3.7 | $ | 315 | ||
Lessor Disclosure [Text Block] | ' | |||||
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 other receivables and current assets. | ||||||
The components of lease receivables were as follows: | ||||||
30-Sep | 2014 | 2013 | ||||
Gross minimum lease payments receivable | $ | 2,423.30 | $ | 2,253.20 | ||
Unearned interest income | -940.6 | -709.1 | ||||
Lease Receivables, net | $ | 1,482.70 | $ | 1,544.10 | ||
Lease payments collected in 2014, 2013, and 2012 were $134.4, $120.0, and $103.0, respectively. These payments reduced the lease receivable balance by $72.7, $61.1, and $51.7 in 2014, 2013, and 2012, respectively. | ||||||
At 30 September 2014, minimum lease payments expected to be collected are as follows: | ||||||
2015 | $ | 145.6 | ||||
2016 | 187.4 | |||||
2017 | 186 | |||||
2018 | 184.7 | |||||
2019 | 179.1 | |||||
Thereafter | 1,540.50 | |||||
Total | $ | 2,423.30 |
Financial_Instruments
Financial Instruments | 12 Months Ended | |||||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||||
Financial Instruments [Abstract] | ' | |||||||||||||||||||||||||||
Financial Instruments | ' | |||||||||||||||||||||||||||
12. 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. We also enter into forward exchange contracts to hedge the cash flow exposure on intercompany loans. This portfolio of forward exchange contracts consists primarily of Euros and British Pound Sterling as well as Euros and U.S. dollars. The maximum remaining term of any forward exchange contract currently outstanding and designated as a cash flow hedge at 30 September 2014 is 3.3 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: | ||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||
Years | Years | |||||||||||||||||||||||||||
US$ | Average | US$ | Average | |||||||||||||||||||||||||
30-Sep | Notional | Maturity | Notional | Maturity | ||||||||||||||||||||||||
Forward Exchange Contracts | ||||||||||||||||||||||||||||
Cash flow hedges | $ | 2,965.50 | 0.7 | $ | 2,653.40 | 0.6 | ||||||||||||||||||||||
Net investment hedges | 685.9 | 2.9 | 1,231.80 | 2.4 | ||||||||||||||||||||||||
Not designated | 381.5 | 0.1 | 751.9 | 0.1 | ||||||||||||||||||||||||
Total Forward Exchange Contracts | $ | 4,032.90 | 1 | $ | 4,637.10 | 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 and related accrued interest included €879.3 million ($1,110.6) and Chinese Renminbi 900.9 million ($146.8) at 30 September 2014 and €908.3 million ($1,228.4) at 30 September 2013. The designated foreign currency-denominated debt is located on the balance sheet in the long-term debt and short-term borrowings line items. | ||||||||||||||||||||||||||||
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 2014, the outstanding interest rate swaps were denominated in U.S. dollars, Euros, and Chilean Pesos. The maximum remaining term of any interest rate swap designated as a cash flow hedge is 0.4 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 nonfunctional 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, U.S. dollars and British Pound Sterling, as well as U.S. dollars and Euros. | ||||||||||||||||||||||||||||
The following table summarizes our outstanding interest rate management contracts and cross currency interest rate swaps: | ||||||||||||||||||||||||||||
30-Sep-14 | 30-Sep-13 | |||||||||||||||||||||||||||
Average | Years | Average | Years | |||||||||||||||||||||||||
US$ | Receive | Average | US$ | Receive | Average | |||||||||||||||||||||||
Notional | Pay % | % | Maturity | Notional | Pay % | % | Maturity | |||||||||||||||||||||
Interest rate swaps (fair value hedge) | $ | 600 | LIBOR | 2.77% | 4.3 | $ | 300 | LIBOR | 3.61% | 5.9 | ||||||||||||||||||
Cross currency interest rate swaps | ||||||||||||||||||||||||||||
(net investment hedge) | $ | 404.5 | 3.70% | 1.15% | 2.7 | $ | 310.8 | 3.87% | 0.72% | 2.4 | ||||||||||||||||||
Interest rate swaps (cash flow hedge) | $ | 431.7 | 2.36% | 0.71% | 0.4 | $ | 52.8 | 6.84% | 5.64% | 1.4 | ||||||||||||||||||
Cross currency interest rate swaps | ||||||||||||||||||||||||||||
(cash flow hedge) | $ | 446.3 | 3.39% | 2.86% | 4.2 | $ | 169.3 | 3.48% | 2.53% | 4.8 | ||||||||||||||||||
Cross currency interest rate swaps | ||||||||||||||||||||||||||||
(not designated) | $ | 15.4 | 3.62% | 0.05% | 0.8 | - | - | - | - | |||||||||||||||||||
The table below summarizes the fair value and balance sheet location of our outstanding derivatives: | ||||||||||||||||||||||||||||
Balance Sheet | 30-Sep | Balance Sheet | 30-Sep | |||||||||||||||||||||||||
Location | 2014 | 2013 | Location | 2014 | 2013 | |||||||||||||||||||||||
Derivatives Designated as | ||||||||||||||||||||||||||||
Hedging Instruments: | ||||||||||||||||||||||||||||
Forward exchange contracts | Other receivables | $ | 78.9 | $ | 52.2 | Accrued liabilities | $ | 61.8 | $ | 22.5 | ||||||||||||||||||
Interest rate management contracts | Other receivables | 21.1 | - | Accrued liabilities | 18.8 | 3.5 | ||||||||||||||||||||||
Other noncurrent | Other noncurrent | |||||||||||||||||||||||||||
Forward exchange contracts | assets | 10.5 | 28.7 | liabilities | 3.1 | 7.7 | ||||||||||||||||||||||
Other noncurrent | Other noncurrent | |||||||||||||||||||||||||||
Interest rate management contracts | assets | 54.6 | 35.4 | liabilities | 0.3 | 6.1 | ||||||||||||||||||||||
Total Derivatives Designated as | ||||||||||||||||||||||||||||
Hedging Instruments | $ | 165.1 | $ | 116.3 | $ | 84 | $ | 39.8 | ||||||||||||||||||||
Derivatives Not Designated as | ||||||||||||||||||||||||||||
Hedging Instruments: | ||||||||||||||||||||||||||||
Forward exchange contracts | Other receivables | $ | 4 | $ | 9.6 | Accrued liabilities | $ | 1.9 | $ | 1.5 | ||||||||||||||||||
Interest rate management contracts | Other receivables | 2.6 | - | Accrued liabilities | - | - | ||||||||||||||||||||||
Total Derivatives Not Designated | ||||||||||||||||||||||||||||
as Hedging Instruments | $ | 6.6 | $ | 9.6 | $ | 1.9 | $ | 1.5 | ||||||||||||||||||||
Total Derivatives | $ | 171.7 | $ | 125.9 | $ | 85.9 | $ | 41.3 | ||||||||||||||||||||
Refer to Note 13, Fair Value Measurements, which defines fair value, describes the method for measuring fair value, and provides additional disclosures regarding fair value measurements. | ||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Cash Flow Hedges, net of tax: | ||||||||||||||||||||||||||||
Net gain (loss) recognized in OCI | ||||||||||||||||||||||||||||
(effective portion) | $ | -4.5 | $ | 24.6 | $ | - | $ | - | $ | -10.7 | $ | 10.4 | $ | -15.2 | $ | 35 | ||||||||||||
Net (gain) loss reclassified from OCI | ||||||||||||||||||||||||||||
to sales/cost of sales (effective portion) | 0.7 | 1 | - | - | - | - | 0.7 | 1 | ||||||||||||||||||||
Net (gain) loss reclassified from OCI to other | ||||||||||||||||||||||||||||
income, net (effective portion) | 1.7 | -23.9 | - | - | -9.5 | 2.4 | -7.8 | -21.5 | ||||||||||||||||||||
Net (gain)loss reclassified from OCI | ||||||||||||||||||||||||||||
to interest expense (effective portion) | -1.4 | -0.4 | - | - | 0.3 | 0.7 | -1.1 | 0.3 | ||||||||||||||||||||
Net (gain) loss reclassified from OCI to other | ||||||||||||||||||||||||||||
income, net (ineffective portion) | -0.9 | - | - | - | - | - | -0.9 | - | ||||||||||||||||||||
Fair Value Hedges: | ||||||||||||||||||||||||||||
Net gain (loss) recognized in interest expense(B) | $ | - | $ | - | $ | - | $ | - | $ | -5 | $ | -19.8 | $ | -5 | $ | -19.8 | ||||||||||||
Net Investment Hedges, net of tax: | ||||||||||||||||||||||||||||
Net gain (loss) recognized in OCI | $ | 17.1 | $ | -15.3 | $ | 51.5 | $ | -37.7 | $ | 17 | $ | 1.8 | $ | 85.6 | $ | -51.2 | ||||||||||||
Derivatives Not Designated as Hedging | ||||||||||||||||||||||||||||
Instruments: | ||||||||||||||||||||||||||||
Net gain (loss) recognized in other income, net(C) | $ | -7.2 | $ | 5.3 | $ | - | $ | - | $ | 1.5 | $ | - | $ | -5.7 | $ | 5.3 | ||||||||||||
(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 2014 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 $2.1 as of 30 September 2014 and $10.0 as of 30 September 2013. 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 $107.8 as of 30 September 2014 and $80.6 as of 30 September 2013. 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, 2014 | ||||||||||||||||||||||||||||
Fair Value Measurements [Abstract] | ' | |||||||||||||||||||||||||||
Fair Value Measurements | ' | |||||||||||||||||||||||||||
13. 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 12, 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 | 2014 | 2013 | ||||||||||||||||||||||||||
Carrying Value | Fair Value | Carrying Value | Fair Value | |||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||
Derivatives | ||||||||||||||||||||||||||||
Forward exchange contracts | $ | 93.4 | $ | 93.4 | $ | 90.5 | $ | 90.5 | ||||||||||||||||||||
Interest rate management contracts | 78.3 | 78.3 | 35.4 | 35.4 | ||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||
Derivatives | ||||||||||||||||||||||||||||
Forward exchange contracts | $ | 66.8 | $ | 66.8 | $ | 31.7 | $ | 31.7 | ||||||||||||||||||||
Interest rate management contracts | 19.1 | 19.1 | 9.6 | 9.6 | ||||||||||||||||||||||||
Long-term debt, including current portion | 4,889.80 | 5,130.70 | 5,563.70 | 5,804.10 | ||||||||||||||||||||||||
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-14 | 30-Sep-13 | |||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||
Assets at Fair Value | ||||||||||||||||||||||||||||
Derivatives | ||||||||||||||||||||||||||||
Forward exchange contracts | $ | 93.4 | $ | - | $ | 93.4 | $ | - | $ | 90.5 | $ | - | $ | 90.5 | $ | - | ||||||||||||
Interest rate management contracts | 78.3 | - | 78.3 | - | 35.4 | - | 35.4 | - | ||||||||||||||||||||
Total Assets at Fair Value | $ | 171.7 | $ | - | $ | 171.7 | $ | - | $ | 125.9 | $ | - | $ | 125.9 | $ | - | ||||||||||||
Liabilities at Fair Value | ||||||||||||||||||||||||||||
Derivatives | ||||||||||||||||||||||||||||
Forward exchange contracts | $ | 66.8 | $ | - | $ | 66.8 | $ | - | $ | 31.7 | $ | - | $ | 31.7 | $ | - | ||||||||||||
Interest rate management contracts | 19.1 | - | 19.1 | - | 9.6 | - | 9.6 | - | ||||||||||||||||||||
Total Liabilities at Fair Value | $ | 85.9 | $ | - | $ | 85.9 | $ | - | $ | 41.3 | $ | - | $ | 41.3 | $ | - | ||||||||||||
During the fourth quarter ended 30 September 2014, we recognized a goodwill impairment charge of $305.2 and an intangible asset impairment charge of $4.9. Refer to Note 9, Goodwill, and Note 10, Intangible Assets, for more information related to these charges and the associated fair value measurements, which were classified as Level 3 since unobservable inputs were used in the valuation. | ||||||||||||||||||||||||||||
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 | $ | - | $ | - | $ | 10.8 | $ | 11.9 | ||||||||||||||||||
Long-lived assets—Discontinued operations (B) | - | - | - | - | 18.7 | |||||||||||||||||||||||
(A) In conjunction with the 2013 business restructuring and cost reduction plan, long-lived assets held for sale were written down to fair | ||||||||||||||||||||||||||||
value using a market approach based on prices for other market transactions and our assessment of value considering our knowledge of the | ||||||||||||||||||||||||||||
markets. For additional information, see Note 4, Business Restructuring and Cost Reduction Actions. | ||||||||||||||||||||||||||||
(B) During 2013, an impairment charge was 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
Debt | 12 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Debt Disclosure [Text Block] | ' | ||||||||
14. Debt | |||||||||
The tables below summarize our outstanding debt at 30 September 2014 and 2013: | |||||||||
Total Debt | |||||||||
30-Sep | 2014 | 2013 | |||||||
Short-term borrowings | $ | 1,228.70 | $ | 709.9 | |||||
Current portion of long-term debt | 65.3 | 507.4 | |||||||
Long-term debt | 4,824.50 | 5,056.30 | |||||||
Total Debt | $ | 6,118.50 | $ | 6,273.60 | |||||
Short-term Borrowings | |||||||||
30-Sep | 2014 | 2013 | |||||||
Bank obligations | $ | 320.7 | $ | 218.9 | |||||
Commercial paper | 908 | 491 | |||||||
Total Short-term Borrowings | $ | 1,228.70 | $ | 709.9 | |||||
The weighted average interest rate of short-term borrowings outstanding at 30 September 2014 and 2013 was 1.5% and 1.8%, respectively. | |||||||||
Cash paid for interest, net of amounts capitalized, was $132.4 in 2014, $136.1 in 2013, and $127.6 in 2012. | |||||||||
Long-term Debt | |||||||||
30-Sep | Fiscal Year Maturities | 2014 | 2013 | ||||||
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 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 | 400 | ||||||
Note 3.35% | 2024 | 400 | - | ||||||
Other (weighted average rate) | |||||||||
Variable-rate industrial revenue bonds 0.04% | 2021 to 2050 | 917.1 | 917.1 | ||||||
Commercial Paper 0.1% | 2014 | - | 400 | ||||||
Other 2.5% | 2015 to 2020 | 25.3 | 46.8 | ||||||
Payable in Other Currencies | |||||||||
Eurobonds 3.75% | 2014 | - | 405.7 | ||||||
Eurobonds 3.875% | 2015 | 378.9 | 405.7 | ||||||
RMB Syndicated Credit Facility 4.05% | 2014 | - | 40.9 | ||||||
Eurobonds 4.625% | 2017 | 378.9 | 405.7 | ||||||
Eurobonds 2.0% | 2020 | 378.9 | 405.7 | ||||||
CLP Series E bonds 6.3% | 2030 | 143.1 | 163.8 | ||||||
Other 5.6% | 2015 to 2022 | 253.1 | 358.7 | ||||||
Capital Lease Obligations | |||||||||
United States 5.0% | 2018 | 1 | 1.3 | ||||||
Foreign 9.2% | 2017 to 2021 | 1.5 | 0.3 | ||||||
Less: Unamortized Discount | -5.7 | -5.7 | |||||||
Total Long-term Debt | 4,889.80 | 5,563.70 | |||||||
Less: Current portion of long-term debt | -65.3 | -507.4 | |||||||
Long-term Debt | $ | 4,824.50 | $ | 5,056.30 | |||||
Maturities of long-term debt in each of the next five years and beyond are as follows: | |||||||||
2015 | $ | 444.2 | |||||||
2016 | 410.5 | ||||||||
2017 | 424.8 | ||||||||
2018 | 448.5 | ||||||||
2019 | 422.5 | ||||||||
Thereafter | 2,739.30 | ||||||||
Total | $ | 4,889.80 | |||||||
A $400.0 senior fixed-rate 3.35% note was issued on 31 July 2014 that matures on 31 July 2024. | |||||||||
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 2014, we are in compliance with all the financial and other covenants under our debt agreements. | |||||||||
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 until maturity on 30 April 2018. The 2013 Credit Agreement provides us with a source of liquidity and supports our commercial paper program. This credit facility includes a financial covenant for a maximum ratio of total debt to total capitalization (total debt plus total equity plus redeemable noncontrolling interest) no greater than 70%. On 30 June 2014, we amended the 2013 Credit Agreement to exercise our option to increase the facility to $2,595.0. All other terms remain unchanged from the original agreement. No borrowings were outstanding under the 2013 Credit Agreement as of 30 September 2014. | |||||||||
As of 30 September 2014, we have classified a 3.875% Eurobond for €300 million ($378.9) maturing in March 2015 as long-term debt because we have the ability to refinance the debt on a long-term basis under the 2013 Credit Agreement. Our current intent is to refinance this debt via the U.S. or European public or private placement markets. | |||||||||
Effective 11 June 2012, we entered into an offshore Chinese Renminbi (RMB) syndicated credit facility of RMB1,000.0 million ($160.9), that was to mature in June 2015. On 20 March 2014, we repaid the outstanding balance of RMB250.0 million ($40.2) and terminated the credit facility. | |||||||||
Additional commitments totaling $189.7 are maintained by our foreign subsidiaries, of which $180.6 was borrowed and outstanding at 30 September 2014. |
Retirement_Benefits
Retirement Benefits | 12 Months Ended | |||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||
Retirement Benefits [Abstract] | ' | |||||||||||||||||||||||||
Retirement Benefits | ' | |||||||||||||||||||||||||
15. 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: | ||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||
U.S. | International | U.S. | International | U.S. | International | |||||||||||||||||||||
Service cost | $ | 42.6 | $ | 36 | $ | 51.8 | $ | 31.5 | $ | 45.1 | $ | 24.1 | ||||||||||||||
Interest cost | 130.7 | 67.2 | 117.1 | 57.3 | 124.2 | 62.3 | ||||||||||||||||||||
Expected return on plan assets | -187.8 | -78.1 | -185.4 | -71.2 | -178.2 | -66.7 | ||||||||||||||||||||
Amortization | ||||||||||||||||||||||||||
Net actuarial loss | 78.3 | 36.1 | 116 | 27 | 78.6 | 17.4 | ||||||||||||||||||||
Prior service cost | 2.9 | 0.2 | 2.9 | 0.2 | 2.7 | 0.5 | ||||||||||||||||||||
Settlement loss | 4.8 | 0.7 | 11.5 | 0.9 | - | 1.4 | ||||||||||||||||||||
Special termination benefits | 0.2 | 0.1 | 1.2 | 6.2 | 4.6 | 2.2 | ||||||||||||||||||||
Other | - | 2 | - | 2.7 | - | 2.2 | ||||||||||||||||||||
Net Periodic Pension Cost | $ | 71.7 | $ | 64.2 | $ | 115.1 | $ | 54.6 | $ | 77 | $ | 43.4 | ||||||||||||||
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 $5.5 and $12.4 of settlement losses in 2014 and 2013, respectively. Special termination benefits for 2014, 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: | ||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||
U.S. | International | U.S. | International | U.S. | International | |||||||||||||||||||||
Discount rate | 4.8 | % | 4.3 | % | 3.9 | % | 4.3 | % | 4.9 | % | 5.5 | % | ||||||||||||||
Expected return on plan assets | 8.3 | % | 6.5 | % | 8.3 | % | 6.5 | % | 8.8 | % | 6.6 | % | ||||||||||||||
Rate of compensation increase | 4 | % | 3.7 | % | 4 | % | 3.4 | % | 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: | ||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||
U.S. | International | U.S. | International | |||||||||||||||||||||||
Discount rate | 4.3 | % | 3.6 | % | 4.8 | % | 4.3 | % | ||||||||||||||||||
Rate of compensation increase | 3.5 | % | 3.6 | % | 4 | % | 3.7 | % | ||||||||||||||||||
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: | ||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||
U.S. | International | U.S. | International | |||||||||||||||||||||||
Change in Projected Benefit Obligation | ||||||||||||||||||||||||||
Obligation at beginning of year | $ | 2,809.00 | $ | 1,585.00 | $ | 3,077.90 | $ | 1,408.60 | ||||||||||||||||||
Service cost | 42.6 | 36 | 51.8 | 31.5 | ||||||||||||||||||||||
Interest cost | 130.7 | 67.2 | 117.1 | 57.3 | ||||||||||||||||||||||
Amendments | 1 | -0.1 | 2.6 | -4.4 | ||||||||||||||||||||||
Actuarial (gain) loss | 135.4 | 130.3 | -318.5 | 113.5 | ||||||||||||||||||||||
Settlement (gain) loss | 5.9 | -1.9 | 8.9 | -2.8 | ||||||||||||||||||||||
Special termination benefits | 0.2 | 0.1 | 1.2 | 6.2 | ||||||||||||||||||||||
Participant contributions | - | 2.4 | - | 2.3 | ||||||||||||||||||||||
Benefits paid | -123.1 | -50.1 | -131.4 | -45.2 | ||||||||||||||||||||||
Currency translation/other | 1.2 | -33.2 | -0.6 | 18 | ||||||||||||||||||||||
Obligation at End of Year | $ | 3,002.90 | $ | 1,735.70 | $ | 2,809.00 | $ | 1,585.00 | ||||||||||||||||||
Change in Plan Assets | ||||||||||||||||||||||||||
Fair value at beginning of year | $ | 2,534.20 | $ | 1,266.60 | $ | 2,099.80 | $ | 1,139.30 | ||||||||||||||||||
Actual return on plan assets | 317.6 | 116.3 | 313.4 | 117.5 | ||||||||||||||||||||||
Company contributions | 17.5 | 60.7 | 252.4 | 48.4 | ||||||||||||||||||||||
Participant contributions | - | 2.4 | - | 2.3 | ||||||||||||||||||||||
Benefits paid | -123.1 | -50.1 | -131.4 | -45.2 | ||||||||||||||||||||||
Settlements | - | -1.9 | - | -2.8 | ||||||||||||||||||||||
Currency translation/other | - | -25.6 | - | 7.1 | ||||||||||||||||||||||
Fair Value at End of Year | $ | 2,746.20 | $ | 1,368.40 | $ | 2,534.20 | $ | 1,266.60 | ||||||||||||||||||
Funded Status at End of Year | $ | -256.7 | $ | -367.3 | $ | -274.8 | $ | -318.4 | ||||||||||||||||||
Amounts Recognized | ||||||||||||||||||||||||||
Noncurrent assets | $ | 22.7 | $ | 0.2 | $ | 19.4 | $ | 1.1 | ||||||||||||||||||
Accrued liabilities | -37.7 | - | -14.7 | - | ||||||||||||||||||||||
Noncurrent liabilities | -241.7 | -367.5 | -279.5 | -319.5 | ||||||||||||||||||||||
Net Amount Recognized | $ | -256.7 | $ | -367.3 | $ | -274.8 | $ | -318.4 | ||||||||||||||||||
The changes in plan assets and benefit obligation that have been recognized in other comprehensive income on a pretax basis | ||||||||||||||||||||||||||
during 2014 and 2013 consist of the following: | ||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||
U.S. | International | U.S. | International | |||||||||||||||||||||||
Net actuarial (gain) loss arising during the period | $ | 11.5 | $ | 92.9 | $ | -437.6 | $ | 67.2 | ||||||||||||||||||
Amortization of net actuarial loss | -83.1 | -36.8 | -127.5 | -27.9 | ||||||||||||||||||||||
Prior service cost (credit) arising during the period | 0.9 | -0.1 | 2.6 | -4.4 | ||||||||||||||||||||||
Amortization of prior service cost | -2.9 | -0.2 | -2.9 | -0.2 | ||||||||||||||||||||||
Total | $ | -73.6 | $ | 55.8 | $ | -565.4 | $ | 34.7 | ||||||||||||||||||
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 losses arising during 2014 are primarily attributable to lower discount rates, partially offset by 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: | ||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||
U.S. | International | U.S. | International | |||||||||||||||||||||||
Net actuarial loss | $ | 798.2 | $ | 597.9 | $ | 869.8 | $ | 541.8 | ||||||||||||||||||
Prior service cost | 11.7 | 1.1 | 13.7 | 1.4 | ||||||||||||||||||||||
Net transition liability | - | 0.4 | - | 0.4 | ||||||||||||||||||||||
Total | $ | 809.9 | $ | 599.4 | $ | 883.5 | $ | 543.6 | ||||||||||||||||||
The amount of accumulated other comprehensive loss at 30 September 2014 that is expected to be recognized as a component of | ||||||||||||||||||||||||||
net periodic pension cost during fiscal year 2015, excluding amounts that may be recognized through settlement losses, is as follows: | ||||||||||||||||||||||||||
U.S. | International | |||||||||||||||||||||||||
Net actuarial loss | $ | 79.7 | $ | 43.2 | ||||||||||||||||||||||
Prior service cost | 2.6 | 0.2 | ||||||||||||||||||||||||
The accumulated benefit obligation (ABO) is the actuarial present value of benefits attributed to employee service rendered to a particular date, based on current salaries. The ABO for all defined benefit pension plans was $4,360.0 and $3,990.7 at the end of 2014 and 2013, respectively. | ||||||||||||||||||||||||||
The following table provides information on pension plans where the benefit liability exceeds the value of plan assets: | ||||||||||||||||||||||||||
30-Sep-14 | 30-Sep-13 | |||||||||||||||||||||||||
U.S. | International | U.S. | International | |||||||||||||||||||||||
Pension Plans with PBO in Excess of Plan Assets: | ||||||||||||||||||||||||||
PBO | $ | 2,786.60 | $ | 1,723.90 | $ | 2,607.60 | $ | 1,558.70 | ||||||||||||||||||
Fair value of plan assets | 2,507.30 | 1,356.60 | 2,313.40 | 1,239.40 | ||||||||||||||||||||||
Pension Plans with ABO in Excess of Plan Assets: | ||||||||||||||||||||||||||
ABO | $ | 131.4 | $ | 1,553.90 | $ | 139.3 | $ | 1,401.30 | ||||||||||||||||||
Fair value of plan assets | - | 1,318.40 | - | 1,205.80 | ||||||||||||||||||||||
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 2014 were $136.7 and $147.7, 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: | ||||||||||||||||||||||||||
2014 Target Allocation | 2014 Actual Allocation | 2013 Actual Allocation | ||||||||||||||||||||||||
Asset Category | U.S. | International | U.S. | International | U.S. | International | ||||||||||||||||||||
Equity securities | 60–80% | 55–66% | 70% | 61% | 71% | 61% | ||||||||||||||||||||
Debt securities | 20–30% | 33–44% | 25% | 37% | 23% | 36% | ||||||||||||||||||||
Real estate/other | 0–10% | 0–2% | 5% | 1% | 5% | 1% | ||||||||||||||||||||
Cash | — | — | 0% | 1% | 1% | 2% | ||||||||||||||||||||
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 9.2%, 5.6%, and 7.3%, 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-14 | 30-Sep-13 | |||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||
U.S. Qualified Pension | ||||||||||||||||||||||||||
Plans | ||||||||||||||||||||||||||
Cash and cash equivalents | $ | 9.9 | $ | 9.9 | $ | - | $ | - | $ | 10.1 | $ | 10.1 | $ | - | $ | - | ||||||||||
Equity securities | 724.5 | 724.5 | - | - | 764.3 | 764.3 | - | - | ||||||||||||||||||
Equity mutual funds | 535 | 535 | - | - | 487 | 487 | - | - | ||||||||||||||||||
Equity pooled funds | 651.6 | - | 651.6 | - | 561.4 | - | 561.4 | - | ||||||||||||||||||
Fixed income: | ||||||||||||||||||||||||||
Bonds (government and | ||||||||||||||||||||||||||
corporate) | 636.8 | - | 636.8 | - | 12.5 | - | 12.5 | - | ||||||||||||||||||
Mortgage and asset- | ||||||||||||||||||||||||||
backed securities | 12.8 | - | 12.8 | - | 14.7 | - | 14.7 | - | ||||||||||||||||||
Mutual funds | 25.4 | 25.4 | - | - | 24 | 24 | - | - | ||||||||||||||||||
Pooled funds | - | - | - | - | 527.4 | - | 527.4 | - | ||||||||||||||||||
Real estate pooled funds | 150.2 | - | - | 150.2 | 132.8 | - | - | 132.8 | ||||||||||||||||||
Total U.S. Qualified | ||||||||||||||||||||||||||
Pension Plans | $ | 2,746.20 | $ | 1,294.80 | $ | 1,301.10 | $ | 150.2 | $ | 2,534.20 | $ | 1,285.40 | $ | 1,116.00 | $ | 132.8 | ||||||||||
International Pension | ||||||||||||||||||||||||||
Plans | ||||||||||||||||||||||||||
Cash and cash equivalents | $ | 11 | $ | 11 | $ | - | $ | - | $ | 16.9 | $ | 16.9 | $ | - | $ | - | ||||||||||
Equity pooled funds | 837.2 | - | 837.2 | - | 776 | - | 776 | - | ||||||||||||||||||
Fixed income pooled funds | 440.9 | - | 440.9 | - | 385.3 | - | 385.3 | - | ||||||||||||||||||
Other pooled funds | 19.6 | - | 10.3 | 9.3 | 20.1 | - | 10.7 | 9.4 | ||||||||||||||||||
Insurance contracts | 59.7 | - | - | 59.7 | 68.3 | - | - | 68.3 | ||||||||||||||||||
Total International | ||||||||||||||||||||||||||
Pension Plans | $ | 1,368.40 | $ | 11 | $ | 1,288.40 | $ | 69 | $ | 1,266.60 | $ | 16.9 | $ | 1,172.00 | $ | 77.7 | ||||||||||
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-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 | ||||||||||||||||||
Actual return on plan assets: | ||||||||||||||||||||||||||
Assets held at end of year | 17.4 | -0.9 | - | 16.5 | ||||||||||||||||||||||
Assets sold during the period | - | 1.2 | - | 1.2 | ||||||||||||||||||||||
Purchases, sales, and settlements, net | - | -0.4 | -8.6 | -9 | ||||||||||||||||||||||
30-Sep-14 | $ | 150.2 | $ | 9.3 | $ | 59.7 | $ | 219.2 | ||||||||||||||||||
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 for fiscal year 2014 were $78.2. These contributions resulted from an assessment of long-term funding requirements of the plans and tax planning. We anticipate contributing $130 to $150 to the defined benefit pension plans in 2015. The increase from prior year is driven primarily by benefit payments for unfunded plans, which are dependent upon timing of retirements and actions to reorganize the business. | ||||||||||||||||||||||||||
Projected benefit payments, which reflect expected future service, are as follows: | ||||||||||||||||||||||||||
U.S. | International | |||||||||||||||||||||||||
2015 | $ | 122.5 | $ | 51.8 | ||||||||||||||||||||||
2016 | 129 | 54.6 | ||||||||||||||||||||||||
2017 | 138.6 | 55.4 | ||||||||||||||||||||||||
2018 | 145.4 | 16.5 | ||||||||||||||||||||||||
2019 | 154 | 16.3 | ||||||||||||||||||||||||
2020–2024 | 899.2 | 111.6 | ||||||||||||||||||||||||
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 3,617,114 as of 30 September 2014. | ||||||||||||||||||||||||||
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 2014, 2013, and 2012 were $45.2, $40.6, and $33.9, 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: | ||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||
Service cost | $ | 3.3 | $ | 4.3 | $ | 4.5 | ||||||||||||||||||||
Interest cost | 2.3 | 1.9 | 3.9 | |||||||||||||||||||||||
Amortization of net actuarial loss | 1.7 | 2.3 | 2.9 | |||||||||||||||||||||||
Net Periodic Postretirement Cost | $ | 7.3 | $ | 8.5 | $ | 11.3 | ||||||||||||||||||||
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 2014, 2013, and 2012 was 2.4%, 1.9%, and 3.7%, 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 2.6% and 2.4% for 2014 and 2013, respectively. | ||||||||||||||||||||||||||
The following table reflects the change in the accumulated postretirement benefit obligation and the amounts recognized in the | ||||||||||||||||||||||||||
consolidated balance sheets: | ||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||
Obligation at beginning of year | $ | 99.9 | $ | 119.9 | ||||||||||||||||||||||
Service cost | 3.3 | 4.3 | ||||||||||||||||||||||||
Interest cost | 2.3 | 1.9 | ||||||||||||||||||||||||
Actuarial gain | -3 | -14.5 | ||||||||||||||||||||||||
Benefits paid | -9 | -11.7 | ||||||||||||||||||||||||
Obligation at End of Year | $ | 93.5 | $ | 99.9 | ||||||||||||||||||||||
Amounts Recognized | ||||||||||||||||||||||||||
Accrued liabilities | $ | 10.7 | $ | 10.9 | ||||||||||||||||||||||
Noncurrent liabilities | 82.8 | 89 | ||||||||||||||||||||||||
The changes in benefit obligation that have been recognized in other comprehensive income on a pretax basis during 2014 and 2013 | ||||||||||||||||||||||||||
for our other postretirement benefit plans consist of the following: | ||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||
Net actuarial gain arising during the period | $ | -3 | $ | -14.5 | ||||||||||||||||||||||
Amortization of net actuarial loss | -1.7 | -2.3 | ||||||||||||||||||||||||
Total | $ | -4.7 | $ | -16.8 | ||||||||||||||||||||||
The net actuarial loss recognized in accumulated other comprehensive loss on a pretax basis was $15.0 at 30 September 2014 and $19.7 at 30 September 2013. Of the 30 September 2014 net actuarial loss, it is estimated that $1.1 will be amortized into net periodic postretirement cost during fiscal year 2015. | ||||||||||||||||||||||||||
The assumed healthcare trend rates are as follows: | ||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||
Healthcare trend rate | 7% | 7.50% | ||||||||||||||||||||||||
Ultimate trend rate | 5% | 5% | ||||||||||||||||||||||||
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: | ||||||||||||||||||||||||||
2015 | $ | 10.9 | ||||||||||||||||||||||||
2016 | 11 | |||||||||||||||||||||||||
2017 | 10.8 | |||||||||||||||||||||||||
2018 | 10.6 | |||||||||||||||||||||||||
2019 | 10.3 | |||||||||||||||||||||||||
2020–2024 | 42.9 | |||||||||||||||||||||||||
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, 2014 | ||||
Commitments And Contingencies [Abstract] | ' | |||
Commitments and Contingencies | ' | |||
16. Commitments and Contingencies | ||||
Litigation | ||||
We are involved in various legal proceedings, including commercial, 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 $73 at 30 September 2014) 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. On 6 May 2014, our appeal was granted and the fine against Air Products Brasil Ltda. was dismissed. CADE has appealed that ruling and the matter remains pending. We, with advice of our outside legal counsel, have assessed the status of this matter and have concluded that, although an adverse final judgment after exhausting all appeals is possible, such a judgment is not probable. As a result, no provision has been made in the consolidated financial statements. We estimate the maximum possible loss to be the full amount of the fine of R$179.2 million (approximately $73 at 30 September 2014) plus interest accrued thereon until final disposition of the proceedings. | ||||
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 36 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. The consolidated balance sheets at 30 September 2014 and 2013 included an accrual of $86.2 and $86.7, respectively, primarily as part of other noncurrent liabilities. The environmental liabilities will be paid over a period of up to 30 years. We estimate the exposure for environmental loss contingencies to range from $86 to a reasonably possible upper exposure of $99 as of 30 September 2014. | ||||
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 2014, $32.0 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 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 has identified alternative approaches that may more effectively remove contaminants. We continue to review alternative remedial approaches with the FDEP. | ||||
PIEDMONT | ||||
At 30 September 2014, $18.8 of the environmental accrual was related to the Piedmont site. | ||||
On 30 June 2008, we sold our Elkton, Maryland, and Piedmont, South Carolina, production facilities and the related North American atmospheric emulsions and global pressure sensitive adhesives businesses. In connection with the sale, we recognized a liability for retained environmental obligations associated with remediation activities at the Piedmont site. This site is under active remediation for contamination caused by an insolvent prior owner. We are required by the South Carolina Department of Health and Environmental Control 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 2014, $4.4 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. In December 2009, we completed the sale of this facility. We are required by state and federal law to investigate and, if contaminated, remediate a site upon its sale. The change in the liability balance since it was established is a result of spending and better definition of our exposure gained through the site remedial investigation process. We estimate that it will take several years to complete the remediation efforts at this site. | ||||
PASADENA | ||||
At 30 September 2014, $12.3 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 obligations related to soil and groundwater contaminants. We have been pumping and treating groundwater to control off-site contaminant migration in compliance with regulatory requirements and under the approval of the Texas Commission on Environmental Quality (TCEQ). We estimate that the pump and treat system will continue to operate for 30 years subsequent to the shutdown of the PUI production facility. We plan to perform additional work to address other environmental obligations at the site. This additional work includes investigating solid waste management units, which are now accessible as a result of the shutdown, remediating as required impacted soils, 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 | ||||
Our asset retirement obligations are primarily associated with Tonnage Gases on-site long-term supply contracts, under which we have built a facility on land owned by the customer and are obligated to remove the facility at the end of the contract term. 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 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 | ||
Additional accruals | 5.6 | |||
Liabilities settled | -4.9 | |||
Accretion expense | 5.2 | |||
Currency translation adjustment | -1.7 | |||
Balance at 30 September 2014 | $ | 94 | ||
These obligations are primarily reflected in other noncurrent liabilities on the consolidated balance sheets. | ||||
Guarantees and Warranties | ||||
We are party to an equity support agreement and operations guarantee related to an air separation facility constructed in Trinidad for a venture in which we own 50%. At 30 September 2014, maximum potential payments under joint and several guarantees were $42.4. Exposures under the guarantee decline over time and will be completely extinguished by 2024. | ||||
During the first quarter of 2014, we sold the remaining portion of our Homecare business and entered into an operations guarantee related to obligations under certain homecare contracts assigned in connection with the transaction. Our maximum potential payment under the guarantee is £20 million (approximately $32 at 30 September 2014), and our exposure will be extinguished by 2020. | ||||
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 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 required six months notice to allow for the sale of all stock owned by other shareholders to us. We have not received notice of exercise under the terms of the agreement. As such, this put option is no longer considered an obligation of the Company. | ||||
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: | ||||
2015 | $ | 929 | ||
2016 | 154 | |||
2017 | 81 | |||
2018 | 65 | |||
2019 | 63 | |||
Thereafter | 256 | |||
Total | $ | 1,548 | ||
Approximately $650 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 $700 for additional plant and equipment are included in the unconditional purchase obligations in 2015. |
Capital_Stock
Capital Stock | 12 Months Ended | |||||
Sep. 30, 2014 | ||||||
Capital Stock [Abstract] | ' | |||||
Capital Stock | ' | |||||
17. Capital Stock | ||||||
Common Stock | ||||||
Authorized common stock consists of 300 million shares with a par value of $1 per share. As of 30 September 2014, 249 million shares were issued, with 214 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. We did not purchase any of our outstanding shares during fiscal year 2014. At 30 September 2014, $485.3 in share repurchase authorization remains. | ||||||
The following table reflects the changes in common shares: | ||||||
Year ended 30 September | 2014 | 2013 | 2012 | |||
Number of Common Shares Outstanding | ||||||
Balance, beginning of year | 211,179,257 | 212,475,880 | 210,185,256 | |||
Purchase of treasury shares | - | -5,721,017 | -594,916 | |||
Issuance of treasury shares for stock option and award plans | 2,358,887 | 4,424,394 | 2,885,540 | |||
Balance, end of year | 213,538,144 | 211,179,257 | 212,475,880 | |||
Preferred Stock | ||||||
Authorized preferred stock consists of 25 million shares with a par value of $1 per share, of which 2.5 million were designated as Series A Junior Participating Preferred Stock in accordance with the Shareholder Rights Plan discussed below. The plan expired in the fourth quarter of 2014; however, the shares remain designated. At 30 September 2014, 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 received an associated right to purchase one one-thousandth (1/1,000) of a share of Series A Junior Participating Preferred Stock. These rights would have been exercisable if a person or group acquired 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. There were no shares issued under the plan and it expired on 24 July 2014. |
ShareBased_Compensation
Share-Based Compensation | 12 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Share-Based Compensation [Abstract] | ' | ||||||||
Share-Based Compensation | ' | ||||||||
18. 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 2014, there were 5,591,547 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: | |||||||||
2014 | 2013 | 2012 | |||||||
Before-Tax Share-Based Compensation Cost | $ | 44 | $ | 43.5 | $ | 43.8 | |||
Income tax benefit | -15.6 | -15.7 | -15.7 | ||||||
After-Tax Share-Based Compensation Cost | $ | 28.4 | $ | 27.8 | $ | 28.1 | |||
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 2014, 2013, and 2012 was not material. | |||||||||
Total before-tax share-based compensation cost by type of program was as follows: | |||||||||
2014 | 2013 | 2012 | |||||||
Stock options | $ | 21.6 | $ | 21.5 | $ | 22.1 | |||
Deferred stock units | 20.2 | 19.6 | 19.5 | ||||||
Restricted stock | 2.2 | 2.4 | 2.2 | ||||||
Before-Tax Share-Based Compensation Cost | $ | 44 | $ | 43.5 | $ | 43.8 | |||
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. | |||||||||
2014 | 2013 | 2012 | |||||||
Expected volatility | 29.8%–31.1 | % | 28.6%–30.4 | % | 29.0%–30.4 | % | |||
Expected dividend yield | 2.4%–2.9 | % | 2.4 | % | 2.3 | % | |||
Expected life (in years) | 6.5–8.4 | 7.3–9.1 | 7.3–9.0 | ||||||
Risk-free interest rate | 2.0%–2.7 | % | 1.2%–1.5 | % | 1.7%–2.1 | % | |||
The weighted average grant-date fair value of options granted during 2014, 2013, and 2012 was $29.10, $19.85, and $21.43, per option, respectively. | |||||||||
A summary of stock option activity is presented below: | |||||||||
Weighted Average | |||||||||
Stock Options | Shares (000) | Exercise Price | |||||||
Outstanding at 30 September 2013 | 8,612 | $ | 75.69 | ||||||
Granted | 933 | 111.26 | |||||||
Exercised | -2,181 | 65.29 | |||||||
Forfeited | -80 | 94.9 | |||||||
Outstanding at 30 September 2014 | 7,284 | $ | 83.14 | ||||||
Exercisable at 30 September 2014 | 5,346 | $ | 78.64 | ||||||
Weighted Average | |||||||||
Remaining Contractual | Aggregate Intrinsic | ||||||||
Stock Options | Terms (in years) | Value | |||||||
Outstanding at 30 September 2014 | 5.6 | $ | 343 | ||||||
Exercisable at 30 September 2014 | 4.5 | $ | 276 | ||||||
The aggregate intrinsic value represents the amount by which our closing stock price of $130.18 as of 30 September 2014 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 2014, 2013, and 2012 was $125.3, $170.4, and $110.6, 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 2014, there was $13.6 of unrecognized compensation cost related to nonvested stock options, which is expected to be recognized over a weighted average period of 2.2 years. | |||||||||
Cash received from option exercises during 2014 was $141.6. The total tax benefit realized from stock option exercises in 2014 was $43.4, of which $23.6 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, for employee recipients, 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 two- to five-year deferral period. 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 2013 | 1,264 | $ | 75.64 | ||||||
Granted | 229 | 108.54 | |||||||
Paid out | -289 | 78.13 | |||||||
Forfeited/adjustments | -68 | 85.51 | |||||||
Outstanding at 30 September 2014 | 1,136 | $ | 81.03 | ||||||
Cash payments made for deferred stock units were $2.1, $1.9, and $1.8 in 2014, 2013, and 2012, respectively. As of 30 September 2014, there was $22.6 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 2014, 2013, and 2012, including shares vested in prior periods, was $31.8, $32.3, and $22.0, 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. Restrictions on shares lift in one to four years or upon earlier retirement, death, or disability. The shares are nontransferable while subject to forfeiture. | |||||||||
Weighted Average | |||||||||
Restricted Stock | Shares (000) | Grant-Date Fair Value | |||||||
Outstanding at 30 September 2013 | 124 | $ | 78.51 | ||||||
Granted | 50 | 123.77 | |||||||
Vested | -98 | 77.33 | |||||||
Forfeited | -3 | 82.41 | |||||||
Outstanding at 30 September 2014 | 73 | $ | 110.75 | ||||||
As of 30 September 2014, there was $5.5 of unrecognized compensation cost related to restricted stock awards. The cost is expected to be recognized over a weighted average period of 2.9 years. The total fair value of restricted stock vested during 2014, 2013, and 2012 was $12.1, $4.4, and $2.0, respectively. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Loss | 12 Months Ended | ||||||||||||||
Sep. 30, 2014 | |||||||||||||||
Accumulated Other Comprehensive Loss Net of Tax [Abstract] | ' | ||||||||||||||
Accumulated Other Comprehensive Loss | ' | ||||||||||||||
The table below summarizes changes in accumulated other comprehensive loss (AOCL), net of tax, attributable to Air Products: | |||||||||||||||
Net loss on derivatives qualifying as hedges | Foreign currency translation adjustments | Pension and postretirement benefits | Total | ||||||||||||
Balance at 30 September 2011 | $ | -9.5 | $ | -130.9 | $ | -1,113.00 | $ | -1,253.40 | |||||||
Other comprehensive income (loss) before reclassifications | -21.8 | 84.6 | -246 | -183.2 | |||||||||||
Amounts reclassified from AOCL | 12.4 | 13.3 | 67 | 92.7 | |||||||||||
Net current period other comprehensive income (loss) | $ | -9.4 | $ | 97.9 | $ | -179 | $ | -90.5 | |||||||
Amount attributable to noncontrolling interest | - | 5.8 | -0.9 | 4.9 | |||||||||||
Balance at 30 September 2012 | $ | -18.9 | $ | -38.8 | $ | -1,291.10 | $ | -1,348.80 | |||||||
Other comprehensive income (loss) before reclassifications | 35 | -25 | 231.9 | 241.9 | |||||||||||
Amounts reclassified from AOCL | -20.2 | 0.6 | 104.9 | 85.3 | |||||||||||
Net current period other comprehensive income (loss) | $ | 14.8 | $ | -24.4 | $ | 336.8 | $ | 327.2 | |||||||
Amount attributable to noncontrolling interest | - | -1.7 | 0.7 | -1 | |||||||||||
Balance at 30 September 2013 | $ | -4.1 | $ | -61.5 | $ | -955 | $ | -1,020.60 | |||||||
Other comprehensive income (loss) before reclassifications | -15.2 | -213.1 | -74.2 | -302.5 | |||||||||||
Amounts reclassified from AOCL | -9.1 | - | 84.7 | 75.6 | |||||||||||
Net current period other comprehensive income (loss) | $ | -24.3 | $ | -213.1 | $ | 10.5 | $ | -226.9 | |||||||
Amount attributable to noncontrolling interest | 0.1 | -5.9 | 0.2 | -5.6 | |||||||||||
Balance at 30 September 2014 | $ | -28.5 | $ | -268.7 | $ | -944.7 | $ | -1,241.90 | |||||||
The table below summarizes the reclassifications out of accumulated other comprehensive loss and the affected line item on the consolidated income statements: | |||||||||||||||
2014 | 2013 | 2012 | |||||||||||||
(Gain) Loss on Cash Flow Hedges, net of tax | |||||||||||||||
Sales/cost of sales | $ | 0.7 | $ | 1 | $ | 1.3 | |||||||||
Other income/expense, net | -8.7 | -21.5 | 9.9 | ||||||||||||
Interest expense | -1.1 | 0.3 | 1.2 | ||||||||||||
Total (Gain) Loss on Cash Flow Hedges, net of tax | $ | -9.1 | $ | -20.2 | $ | 12.4 | |||||||||
Pension and Postretirement Benefits, net of tax(A) | $ | 84.7 | $ | 104.9 | $ | 67 | |||||||||
Currency Translation Adjustment(B) | $ | ― | $ | 0.6 | $ | 13.3 | |||||||||
(A) | The components include prior service cost amortization, actuarial loss amortization, and settlements and are reflected in net periodic benefit cost. Refer to Note 15, Retirement Benefits. | ||||||||||||||
(B) | The impact is reflected in Income from Discontinued Operations, net of tax. |
Noncontrolling_Interests
Noncontrolling Interests | 12 Months Ended | ||||||
Sep. 30, 2014 | |||||||
Noncontrolling Interests | ' | ||||||
Noncontrolling Interests | ' | ||||||
20. NONCONTROLLING INTERESTS | |||||||
INDURA S.A. | |||||||
Redeemable Noncontrolling Interest | |||||||
In 2012, we purchased a controlling equity interest in the outstanding shares of Indura S.A. As part of the purchase agreement, 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 the greater of fair market value or the acquisition date value escalated by an inflation factor (the “floor value”). The put option is not accounted for separate from the minority interest shares that are subject to the put option. The redemption feature of the put option requires classification of the minority shareholder’s interest in the consolidated balance sheet outside of equity under the caption “Redeemable Noncontrolling Interest.” | |||||||
Adjustments to the value of the redeemable noncontrolling interest due to the redemption feature are recognized as they occur. Currently, the floor value of the redemption feature is in excess of the fair value of the minority interest shares. Because the value of the redeemable noncontrolling interest cannot be less than the floor value, the attribution of net income between Air Products and the minority shareholders is adjusted so that the value of the redeemable noncontrolling interest is not less than the floor value. | |||||||
The following is a summary of the changes in redeemable noncontrolling interest for the year ended 30 September: | |||||||
2014 | 2013 | ||||||
Balance at beginning of year | $ | 375.8 | $ | 392.5 | |||
Net income (loss)(A) | -27.4 | 8.1 | |||||
Dividends | -4.7 | -1.1 | |||||
Currency translation adjustment | -56.5 | -23.7 | |||||
Balance at 30 September | $ | 287.2 | $ | 375.8 | |||
(A) The 2014 net loss includes $32.5 for the goodwill and intangible asset impairment charge. Refer to Note 9, Goodwill, | |||||||
and Note 10, Intangible Assets, to the consolidated financial statements for additional details. | |||||||
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, 2014 | |||||||||||
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 | 2014 | 2013 | 2012 | ||||||||
Numerator | |||||||||||
Income from continuing operations | $ | 987.1 | $ | 1,004.20 | $ | 999.2 | |||||
Income (Loss) from discontinued operations | 4.6 | -10 | 168.1 | ||||||||
Net Income Attributable to Air Products | $ | 991.7 | $ | 994.2 | $ | 1,167.30 | |||||
Denominator (in millions) | |||||||||||
Weighted average common shares—Basic | 212.7 | 209.7 | 211.2 | ||||||||
Effect of dilutive securities | |||||||||||
Employee stock option and other award plans | 2.5 | 2.6 | 3.5 | ||||||||
Weighted average common shares—Diluted | 215.2 | 212.3 | 214.7 | ||||||||
Basic EPS Attributable to Air Products | |||||||||||
Income from continuing operations | $ | 4.64 | $ | 4.79 | $ | 4.73 | |||||
Income (Loss) from discontinued operations | 0.02 | -0.05 | 0.8 | ||||||||
Net Income Attributable to Air Products | $ | 4.66 | $ | 4.74 | $ | 5.53 | |||||
Diluted EPS Attributable to Air Products | |||||||||||
Income from continuing operations | $ | 4.59 | $ | 4.73 | $ | 4.66 | |||||
Income (Loss) from discontinued operations | 0.02 | -0.05 | 0.78 | ||||||||
Net Income Attributable to Air Products | $ | 4.61 | $ | 4.68 | $ | 5.44 | |||||
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 .6 million shares, 2.1 million shares, and 3.6 million shares were antidilutive and therefore excluded from the computation of diluted EPS for 2014, 2013, and 2012, respectively. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||
Sep. 30, 2014 | |||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||
Income Taxes | ' | ||||||||||
22. INCOME TAXES | |||||||||||
The following table summarizes the income of U.S. and foreign operations before taxes: | |||||||||||
2014 | 2013 | 2012 | |||||||||
Income from Continuing Operations before Taxes | |||||||||||
United States | $ | 555.9 | $ | 428.5 | $ | 518.6 | |||||
Foreign | 647.2 | 754.1 | 640.1 | ||||||||
Income from equity affiliates | 151.4 | 167.8 | 153.8 | ||||||||
Total | $ | 1,354.50 | $ | 1,350.40 | $ | 1,312.50 | |||||
The following table shows the components of the provision for income taxes: | |||||||||||
2014 | 2013 | 2012 | |||||||||
Current Tax Provision | |||||||||||
Federal | $ | 17.2 | $ | 97.6 | $ | 43.1 | |||||
State | 12.8 | 6.5 | 9.6 | ||||||||
Foreign | 210.5 | 191 | 173.9 | ||||||||
240.5 | 295.1 | 226.6 | |||||||||
Deferred Tax Provision | |||||||||||
Federal | 98.2 | 27.7 | 76.5 | ||||||||
State | -2.7 | -7.8 | 4 | ||||||||
Foreign | 30 | -7.1 | -19.8 | ||||||||
125.5 | 12.8 | 60.7 | |||||||||
Income Tax Provision | $ | 366 | $ | 307.9 | $ | 287.3 | |||||
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) | 2014 | 2013 | 2012 | ||||||||
U.S. federal statutory tax rate | 35 | % | 35 | % | 35 | % | |||||
State taxes, net of federal benefit | 0.5 | 0.5 | 0.7 | ||||||||
Income from equity affiliates | -3.9 | -4.3 | -4 | ||||||||
Foreign taxes and credits | -10 | -6.9 | -8.6 | ||||||||
Domestic production activities | -0.7 | -0.6 | -0.9 | ||||||||
Tax audit settlements and adjustments | ― | ― | -1.1 | ||||||||
Non-deductible goodwill impairment charge | 8 | ― | ― | ||||||||
Non-U.S. subsidiary tax election | -3.8 | ― | ― | ||||||||
Other(A) | 1.9 | -0.9 | 0.8 | ||||||||
Effective Tax Rate | 27 | % | 22.8 | % | 21.9 | % | |||||
(A) Other includes the impact of Chilean tax rate changes of 1.5% in 2014 and 1.1% in 2012. | |||||||||||
Income tax payments, net of refunds, were $160.6 in 2014, $325.5 in 2013, and $255.7 in 2012. | |||||||||||
In 2014, the effective tax rate was impacted by losses from transactions and a tax election made with respect to a non-U.S. subsidiary resulting in an income tax benefit of $51.6. This benefit was partially offset by income tax expense of $20.6 related to the recent tax reform legislation enacted in Chile. The effective tax rate was also impacted by the goodwill impairment charge of $305.2 that was not deductible for tax purposes. See Note 9, Goodwill, for additional information regarding the impairment charge. | |||||||||||
The significant components of deferred tax assets and liabilities are as follows: | |||||||||||
30-Sep | 2014 | 2013 | |||||||||
Gross Deferred Tax Assets | |||||||||||
Retirement benefits and compensation accruals | $ | 348.9 | $ | 347.2 | |||||||
Tax loss carryforwards | 125 | 53.3 | |||||||||
Tax credits and other tax carryforwards | 78.1 | 66.6 | |||||||||
Reserves and accruals | 80.1 | 140.3 | |||||||||
Currency losses | ― | 34.8 | |||||||||
Other | 46.1 | 40.1 | |||||||||
Valuation allowance | -103.8 | -44.7 | |||||||||
Deferred Tax Assets | 574.4 | 637.6 | |||||||||
Gross Deferred Tax Liabilities | |||||||||||
Plant and equipment | 1,089.50 | 1,066.40 | |||||||||
Currency gains | 18.2 | - | |||||||||
Unremitted earnings of foreign entities | 100 | 80.6 | |||||||||
Intangible assets | 150 | 135.5 | |||||||||
Other | 22.8 | 17.8 | |||||||||
Deferred Tax Liabilities | 1,380.50 | 1,300.30 | |||||||||
Net Deferred Income Tax Liability | $ | 806.1 | $ | 662.7 | |||||||
Deferred tax assets and liabilities are included within the consolidated financial statements as follows: | |||||||||||
2014 | 2013 | ||||||||||
Deferred Tax Assets | |||||||||||
Other receivables and current assets | $ | 136 | $ | 115.3 | |||||||
Other noncurrent assets | 56.6 | 53.1 | |||||||||
Total Deferred Tax Assets | 192.6 | 168.4 | |||||||||
Deferred Tax Liabilities | |||||||||||
Payables and accrued liabilities | 3.2 | 3.9 | |||||||||
Deferred income taxes | 995.5 | 827.2 | |||||||||
Total Deferred Tax Liabilities | 998.7 | 831.1 | |||||||||
Net Deferred Income Tax Liability | $ | 806.1 | $ | 662.7 | |||||||
Gross federal loss and tax credit carryforwards as of 30 September 2014 were $156.9 and $30.1, respectively. The federal loss carryforward is primarily a capital loss due to the tax election related to a non-U.S. subsidiary. This capital loss expires in 2019. The federal tax credit carryforwards have expiration periods between 2023 and 2033. Gross state loss and tax credit carryforwards as of 30 September 2014 were $372.2 and $4.0, respectively. The state tax carryforwards have expiration periods between 2015 and 2034. Gross foreign loss and tax credit carryforwards as of 30 September 2014 were $228.3 and $44.0, respectively. Foreign tax carryforwards of $162.5 have expiration periods between 2015 and 2030; the remainder have unlimited carryforward periods. | |||||||||||
The valuation allowance as of 30 September 2014 primarily related to the tax benefit of the federal capital loss carryforward of $53.9 and the foreign loss carryforwards of $40.6. The increase in the valuation allowance was primarily due to the capital loss generated from the tax election related to a non-U.S. subsidiary. If events warrant the reversal of the $103.8 valuation allowance, it would result in a reduction of tax expense. We believe it is more likely than not that future earnings and reversal of deferred tax liabilities will be sufficient to utilize our deferred tax asset, net of existing valuation allowance, at 30 September 2014. | |||||||||||
We record U.S. income taxes on the undistributed earnings of our foreign subsidiaries and corporate joint ventures unless those earnings are permanently reinvested outside of the U.S. 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 $5,894.2 as of 30 September 2014. An estimated $1,466.2 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 80% 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 | 2014 | 2013 | 2012 | ||||||||
Balance at beginning of year | $ | 124.3 | $ | 110.8 | $ | 126.4 | |||||
Additions for tax positions of the current year | 8.1 | 12.7 | 44.5 | ||||||||
Additions for tax positions of prior years | 4.9 | 9 | 2.3 | ||||||||
Reductions for tax positions of prior years | -14.6 | -0.5 | -46.9 | ||||||||
Settlements | ― | -1.4 | -11 | ||||||||
Statute of limitations expiration | -14 | -8 | -3.7 | ||||||||
Foreign currency translation | ― | 1.7 | -0.8 | ||||||||
Balance at End of Year | $ | 108.7 | $ | 124.3 | $ | 110.8 | |||||
At 30 September 2014 and 2013, we had $108.7 and $124.3 of unrecognized tax benefits, excluding interest and penalties, of which $66.5 and $63.1, 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 $1.2 in 2014, $2.4 in 2013, and $(26.1) in 2012. Our accrued balance for interest and penalties was $9.3 and $8.1 in 2014 and 2013, 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. | |||||||||||
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 | 2011–2014 | ||||||||||
Canada | 2012–2014 | ||||||||||
Europe | |||||||||||
France | 2009–2014 | ||||||||||
Germany | 2009–2014 | ||||||||||
Netherlands | 2009–2014 | ||||||||||
Poland | 2009–2014 | ||||||||||
Spain | 2010–2014 | ||||||||||
United Kingdom | 2010–2014 | ||||||||||
Asia | |||||||||||
China | 2009–2014 | ||||||||||
Singapore | 2009–2014 | ||||||||||
South Korea | 2009–2014 | ||||||||||
Taiwan | 2009–2014 | ||||||||||
Latin America | |||||||||||
Brazil | 2009–2014 | ||||||||||
Chile | 2011–2014 |
Supplemental_Information
Supplemental Information | 12 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Supplemental Information [Abstract] | ' | ||||||||
Supplemental Information | ' | ||||||||
23. SUPPLEMENTAL INFORMATION | |||||||||
Other Receivables and Current Assets | |||||||||
30-Sep | 2014 | 2013 | |||||||
Deferred tax assets | $ | 136 | $ | 115.3 | |||||
Derivative instruments | 106.6 | 61.8 | |||||||
Other receivables | 200 | 174.1 | |||||||
Current capital lease receivables | 67.8 | 67.2 | |||||||
Other | 12.6 | 14 | |||||||
$ | 523 | $ | 432.4 | ||||||
Other Noncurrent Assets | |||||||||
30-Sep | 2014 | 2013 | |||||||
Derivative instruments | $ | 65.1 | $ | 64.1 | |||||
Other long-term receivables | 35.1 | 38.2 | |||||||
Deferred financing cost, net | 25.5 | 27 | |||||||
Prepaid tax | 31.3 | 34.1 | |||||||
Deferred tax assets | 56.6 | 53.1 | |||||||
Pension benefits | 22.9 | 20.5 | |||||||
Deposits | 51 | 8.7 | |||||||
Other | 138.8 | 147.8 | |||||||
$ | 426.3 | $ | 393.5 | ||||||
Payables and Accrued Liabilities | |||||||||
30-Sep | 2014 | 2013 | |||||||
Trade creditors | $ | 740.6 | $ | 1,025.50 | |||||
Customer advances | 172.1 | 162.7 | |||||||
Accrued payroll and employee benefits | 155 | 133.5 | |||||||
Pension and postretirement benefits | 48.4 | 25.6 | |||||||
Dividends payable | 164.1 | 150 | |||||||
Outstanding payments in excess of certain cash balances | 28 | 10.5 | |||||||
Accrued interest expense | 46.9 | 54.1 | |||||||
Derivative instruments | 82.5 | 27.5 | |||||||
Contingent proceeds related to Homecare retenders | - | 148.1 | |||||||
Severance and other costs associated with business restructuring and cost reduction actions | 20.6 | 65.2 | |||||||
Other | 132.8 | 142.2 | |||||||
$ | 1,591.00 | $ | 1,944.90 | ||||||
Other Noncurrent Liabilities | |||||||||
30-Sep | 2014 | 2013 | |||||||
Pension benefits | $ | 609.2 | $ | 599 | |||||
Postretirement benefits | 82.8 | 89 | |||||||
Other employee benefits | 107.6 | 114.3 | |||||||
Contingencies related to uncertain tax positions | 111.6 | 94.2 | |||||||
Advance payments | 57.6 | 31 | |||||||
Environmental liabilities | 78.4 | 79.6 | |||||||
Derivative instruments | 3.4 | 13.8 | |||||||
Asset retirement obligations | 94 | 86 | |||||||
Other | 42.9 | 57.4 | |||||||
$ | 1,187.50 | $ | 1,164.30 | ||||||
Other Income (Expense), Net | |||||||||
30-Sep | 2014 | 2013 | 2012 | ||||||
Technology and royalty income | $ | 26.8 | $ | 23.4 | $ | 22.9 | |||
Interest income | 9.4 | 6.4 | 5.4 | ||||||
Foreign exchange | -7.7 | -3.2 | 1.1 | ||||||
Sale of assets and investments | 9.7 | 20 | 8.4 | ||||||
Government grants | 1.1 | 6.8 | 15.2 | ||||||
Other | 13.5 | 16.8 | -5.9 | ||||||
$ | 52.8 | $ | 70.2 | $ | 47.1 | ||||
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, 2014 | ||||||||||||||||||
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 2014 and 2013: | ||||||||||||||||||
2014 | First | Second | Third | Fourth | Total | |||||||||||||
Sales | $ | 2,545.50 | $ | 2,581.90 | $ | 2,634.60 | $ | 2,677.00 | $ | 10,439.00 | ||||||||
Gross profit | 679.6 | 664.3 | 715.9 | 744.6 | 2,804.40 | |||||||||||||
Business restructuring and cost reduction actions(A) | - | - | - | 12.7 | 12.7 | |||||||||||||
Pension settlement loss(B) | - | - | - | 5.5 | 5.5 | |||||||||||||
Goodwill and intangible asset impairment charge(C) | - | - | - | 310.1 | 310.1 | |||||||||||||
Operating income | 385.6 | 384.7 | 413.8 | 144.1 | 1,328.20 | |||||||||||||
Net income | 299.1 | 291.5 | 323.5 | 79 | 993.1 | |||||||||||||
Net Income attributable to Air Products | ||||||||||||||||||
Income from continuing operations | 287.1 | 283.5 | 314 | 102.5 | 987.1 | |||||||||||||
Income from discontinued operations | 3.1 | - | - | 1.5 | 4.6 | |||||||||||||
Net Income attributable to Air Products | 290.2 | 283.5 | 314 | 104 | 991.7 | |||||||||||||
Basic EPS attributable to Air Products | ||||||||||||||||||
Income from continuing operations | 1.36 | 1.33 | 1.47 | 0.48 | 4.64 | |||||||||||||
Income from discontinued operations | 0.01 | - | - | 0.01 | 0.02 | |||||||||||||
Net income per common share | 1.37 | 1.33 | 1.47 | 0.49 | 4.66 | |||||||||||||
Diluted EPS attributable to Air Products | ||||||||||||||||||
Income from continuing operations | 1.34 | 1.32 | 1.46 | 0.47 | 4.59 | |||||||||||||
Income from discontinued operations | 0.01 | - | - | 0.01 | 0.02 | |||||||||||||
Net income per common share | 1.35 | 1.32 | 1.46 | 0.48 | 4.61 | |||||||||||||
Dividends declared per common share | 0.71 | 0.77 | 0.77 | 0.77 | 3.02 | |||||||||||||
Market price per common share: | ||||||||||||||||||
High | 113.99 | 124.4 | 131.48 | 137.45 | ||||||||||||||
Low | 102.23 | 102.73 | 114.28 | 126.82 | ||||||||||||||
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 actions(A) | - | - | - | 231.6 | 231.6 | |||||||||||||
Pension settlement loss(B) | - | - | 4.5 | 7.9 | 12.4 | |||||||||||||
Advisory costs(D) | - | - | - | 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 | ||||||||||||||
(A) For additional information, see Note 4, Business Restructuring and Cost Reduction Actions. | ||||||||||||||||||
(B) For additional information, see Note 15, Retirement Benefits. | ||||||||||||||||||
(C) For additional information, see Note 9, Goodwill and Note 10, Intangible Assets. | ||||||||||||||||||
(D) For additional information, see Note 23, Supplemental Information. |
Business_Segment_and_Geographi
Business Segment and Geographic Information | 12 Months Ended | |||||||||
Sep. 30, 2014 | ||||||||||
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 hard goods, 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, energy-from-waste 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 | 2014 | 2013 | 2012 | |||||||
Merchant Gases | $ | 4,250.70 | $ | 4,098.60 | $ | 3,662.40 | ||||
Tonnage Gases | 3,288.90 | 3,387.30 | 3,206.70 | |||||||
Electronics and Performance Materials | 2,449.00 | 2,243.40 | 2,322.50 | |||||||
Equipment and Energy | 450.4 | 451.1 | 420.1 | |||||||
Segment and Consolidated Totals | $ | 10,439.00 | $ | 10,180.40 | $ | 9,611.70 | ||||
Operating Income | 2014 | 2013 | 2012 | |||||||
Merchant Gases | $ | 671.6 | $ | 680.5 | $ | 644 | ||||
Tonnage Gases | 484.9 | 515.9 | 512 | |||||||
Electronics and Performance Materials (A) | 425.3 | 321.3 | 425.6 | |||||||
Equipment and Energy | 88.2 | 65.5 | 44.6 | |||||||
Segment total | $ | 1,670.00 | $ | 1,583.20 | $ | 1,626.20 | ||||
Business restructuring and cost reduction actions (B) | -12.7 | -231.6 | -327.4 | |||||||
Pension settlement loss | -5.5 | -12.4 | - | |||||||
Goodwill and intangible asset impairment charge(C) | -310.1 | - | - | |||||||
Customer bankruptcy | - | - | -9.8 | |||||||
Advisory costs | - | -10.1 | - | |||||||
Other | -13.5 | -4.7 | -6.6 | |||||||
Consolidated Total | $ | 1,328.20 | $ | 1,324.40 | $ | 1,282.40 | ||||
(A) The gain on remeasuring our previously held equity interest in DA NanoMaterials is included in 2012. 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 Actions. | ||||||||||
(C) For additional information, see Note 9, Goodwill, and Note 10, Intangible Assets. | ||||||||||
Depreciation and Amortization | 2014 | 2013 | 2012 | |||||||
Merchant Gases | $ | 461.1 | $ | 409.5 | $ | 363.2 | ||||
Tonnage Gases | 310.8 | 314.8 | 320.4 | |||||||
Electronics and Performance Materials | 171.8 | 173.4 | 144.1 | |||||||
Equipment and Energy | 12.4 | 8.3 | 12.2 | |||||||
Segment total | $ | 956.1 | $ | 906 | $ | 839.9 | ||||
Other | 0.8 | 1 | 0.9 | |||||||
Consolidated Total | $ | 956.9 | $ | 907 | $ | 840.8 | ||||
Equity Affiliates’ Income | 2014 | 2013 | 2012 | |||||||
Merchant Gases | $ | 140.1 | $ | 145 | $ | 137.1 | ||||
Other segments | 11.3 | 22.8 | 16.7 | |||||||
Segment and Consolidated Totals | $ | 151.4 | $ | 167.8 | $ | 153.8 | ||||
Total Assets | 2014 | 2013 | 2012 | |||||||
Merchant Gases | $ | 7,350.40 | $ | 7,742.20 | $ | 7,411.90 | ||||
Tonnage Gases | 5,620.50 | 5,528.20 | 5,192.20 | |||||||
Electronics and Performance Materials | 2,832.50 | 2,891.50 | 2,969.60 | |||||||
Equipment and Energy | 1,039.00 | 695.1 | 399.9 | |||||||
Segment total | $ | 16,842.40 | $ | 16,857.00 | $ | 15,973.60 | ||||
Other | 936.7 | 990.6 | 925.4 | |||||||
Discontinued Operations | - | 2.5 | 42.8 | |||||||
Consolidated Total | $ | 17,779.10 | $ | 17,850.10 | $ | 16,941.80 | ||||
Investment in Net Assets of and Advances to Equity Affiliates | 2014 | 2013 | 2012 | |||||||
Merchant Gases | $ | 1,074.10 | $ | 1,012.30 | $ | 983.4 | ||||
Other segments | 183.8 | 183.2 | 192.3 | |||||||
Segment and Consolidated Totals | $ | 1,257.90 | $ | 1,195.50 | $ | 1,175.70 | ||||
Identifiable Assets | 2014 | 2013 | 2012 | |||||||
Merchant Gases | $ | 6,276.30 | $ | 6,729.90 | $ | 6,428.50 | ||||
Tonnage Gases | 5,487.70 | 5,397.00 | 5,059.80 | |||||||
Electronics and Performance Materials | 2,798.00 | 2,859.40 | 2,930.30 | |||||||
Equipment and Energy | 1,022.50 | 675.2 | 379.3 | |||||||
Segment total | $ | 15,584.50 | $ | 15,661.50 | $ | 14,797.90 | ||||
Other | 936.7 | 990.6 | 925.4 | |||||||
Discontinued Operations | - | 2.5 | 42.8 | |||||||
Consolidated Total | $ | 16,521.20 | $ | 16,654.60 | $ | 15,766.10 | ||||
Expenditures for Long-Lived Assets (A) | 2014 | 2013 | 2012 | |||||||
Merchant Gases | $ | 587.9 | $ | 558.7 | $ | 523.6 | ||||
Tonnage Gases | 556.6 | 448 | 630.7 | |||||||
Electronics and Performance Materials | 139.9 | 226.8 | 280.8 | |||||||
Equipment and Energy | 399.8 | 290.7 | 85.9 | |||||||
Consolidated Total | $ | 1,684.20 | $ | 1,524.20 | $ | 1,521.00 | ||||
(A) Includes plant and equipment. | ||||||||||
Geographic Information | ||||||||||
Sales to External Customers | 2014 | 2013 | 2012 | |||||||
United States | $ | 4,507.60 | $ | 4,258.40 | $ | 4,114.50 | ||||
Canada | 311.4 | 275.5 | 267.6 | |||||||
Europe | 2,628.00 | 2,602.10 | 2,588.50 | |||||||
Asia, excluding China | 1,389.40 | 1,320.10 | 1,349.90 | |||||||
China | 981 | 1,008.30 | 954.1 | |||||||
Latin America | 621.6 | 716 | 337.1 | |||||||
$ | 10,439.00 | $ | 10,180.40 | $ | 9,611.70 | |||||
Long-Lived Assets (A) | 2014 | 2013 | 2012 | |||||||
United States | $ | 3,756.00 | $ | 3,632.10 | $ | 3,534.40 | ||||
Canada | 518 | 522.3 | 571.3 | |||||||
Europe | 2,245.40 | 2,068.80 | 1,760.10 | |||||||
Asia, excluding China | 989.9 | 962.3 | 948.1 | |||||||
China | 1,582.70 | 1,281.70 | 918.5 | |||||||
Latin America | 440.1 | 506.8 | 508.2 | |||||||
$ | 9,532.10 | $ | 8,974.00 | $ | 8,240.60 | |||||
(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 $378.7 in 2014, $410.3 in 2013, and $521.1 in 2012. 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. | ||||||||||
Segment Reorganization | ||||||||||
On 18 September 2014, we announced a major company reorganization that includes the geographic alignment of our gases businesses and the decentralization of our organization and is effective as of 1 October 2014. We will report our results under the following seven reporting segments beginning in the first quarter of fiscal year 2015: | ||||||||||
Industrial Gases – Americas | ||||||||||
Industrial Gases – EMEA (Europe, Middle East and Africa) | ||||||||||
Industrial Gases – Asia | ||||||||||
Industrial Gases – Global | ||||||||||
Materials Technologies | ||||||||||
Energy-from-Waste | ||||||||||
Corporate | ||||||||||
Our three regional Industrial Gases segments will include Air Separation Units (ASUs), Hydrogen/HyCO Plants (hydrogen, carbon monoxide, and syngas), and the current Merchant Gases segment. The Global Industrial Gases segment will include our sale of equipment businesses, such as ASUs and noncryogenic generators. Our Materials Technologies segment will include the Electronics Materials and Performance Materials businesses and will continue to operate as a global business. Our Energy-from-Waste segment will include the Tees Valley projects in the U.K. The Corporate segment will include two global businesses (LNG and Helium containers) and corporate supporting functions. |
Schedule_II
Schedule II | 12 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | ' | ||||||||||||||||
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | ' | ||||||||||||||||
SCHEDULE II | |||||||||||||||||
CONSOLIDATED | |||||||||||||||||
AIR PRODUCTS AND CHEMICALS, INC. AND SUBSIDIARIES | |||||||||||||||||
SCHEDULE II–VALUATION AND QUALIFYING ACCOUNTS | |||||||||||||||||
For the Years Ended 30 September 2014, 2013, and 2012 | |||||||||||||||||
Balance at | Additions | Additions | Balance | ||||||||||||||
Beginning | Charged to | Charged to | Other | at End of | |||||||||||||
of Period | Expense | Other Accounts | Changes(A) | Period | |||||||||||||
(in millions of dollars) | |||||||||||||||||
Year Ended 30 September 2014 | |||||||||||||||||
Allowance for doubtful accounts | $ | 102 | $ | 8 | $ | 8 | $ | -58 | $ | 60 | |||||||
Allowance for deferred tax assets(B) | 45 | 58 | 1 | - | 104 | ||||||||||||
Year Ended 30 September 2013 | |||||||||||||||||
Allowance for doubtful accounts | $ | 104 | $ | 9 | $ | 19 | $ | -30 | $ | 102 | |||||||
Allowance for deferred tax assets | 37 | 8 | - | - | 45 | ||||||||||||
Year Ended 30 September 2012 | |||||||||||||||||
Allowance for doubtful accounts | $ | 78 | $ | 21 | $ | 16 | $ | -11 | $ | 104 | |||||||
Allowance for deferred tax assets | 28 | 9 | - | - | 37 | ||||||||||||
(A) | Primarily write-offs of uncollectible trade receivable accounts. Includes impact of foreign currency translation adjustments. | ||||||||||||||||
(B) | The increase in the valuation allowance was primarily due to the capital loss generated from the tax election related to a non-U.S. subsidiary. |
Major_Accounting_Policies_Poli
Major Accounting Policies (Policies) | 12 Months Ended |
Sep. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Basis of Presentation and 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 has both the power to direct the activities that most significantly impact the economic performance of a VIE and the obligation to absorb the losses or receive the benefits significant to the VIE is considered the 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 2014 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 2014, 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 8, 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 Actions, 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 13, 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 12, Financial Instruments, for further detail on the types and use of derivative instruments into which we enter. | |
Major financial institutions are counterparties to all of these derivative contracts. We have established counterparty credit guidelines and 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 (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 $35.1 in fiscal 2014, $37.1 in 2013, and $44.7 in 2012. | |
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 16, 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 16, 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 18, 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. | |
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 6, 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 7, 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 8, 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 $33.0, $25.8, and $30.2 in 2014, 2013, and 2012, 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 that are largely independent of the cash flows of other assets and liabilities and are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. We assess recoverability by comparing the carrying amount of the asset group to estimated undiscounted future cash flows expected to be generated by the asset group. If an asset group is considered impaired, the impairment loss to be recognized is measured as the amount by which the asset group’s carrying amount exceeds its fair value. Long-lived assets 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. Our asset retirement obligations are primarily associated with Tonnage Gases on-site long-term supply contracts, under which we have built a facility on land owned by the customer and are obligated to remove the facility at the end of the contract term. Our asset retirement obligations totaled $94.0 and $89.8 at 30 September 2014 and 2013, 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 9, 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 10, Intangible Assets, for further detail. | |
Retirement 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 15, Retirement Benefits, for disclosures related to our pension and other postretirement benefits. |
Discontinued_Operations_Tables
Discontinued Operations (Tables) | 12 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Discontinued Operations [Abstract] | ' | ||||||||
Schedule of Operating Results and Assets and Liabilities of Discontinued Operations | ' | ||||||||
The results of discontinued operations are summarized below: | |||||||||
2014 | 2013 | 2012 | |||||||
Sales | $ | 8.5 | $ | 52.3 | $ | 258 | |||
Income before taxes | $ | 0.7 | $ | 3.8 | $ | 68.1 | |||
Income tax provision | - | 0.2 | 20.8 | ||||||
Income from operations of discontinued operations | 0.7 | 3.6 | 47.3 | ||||||
Gain (Loss) on sale of business and impairment/write-down, net of tax | 3.9 | -13.6 | 120.8 | ||||||
Income (Loss) from Discontinued Operations, net of tax | $ | 4.6 | $ | -10 | $ | 168.1 | |||
Assets and liabilities of discontinued operations consist of the following: | |||||||||
30-Sep | 2014 | 2013 | |||||||
Trade receivables, net | $ | - | $ | 2.5 | |||||
Total Current Assets | $ | - | $ | 2.5 | |||||
Payables and accrued liabilities | $ | - | $ | 2.4 | |||||
Total Current Liabilities | $ | - | $ | 2.4 | |||||
Business_Restructuring_and_Cos1
Business Restructuring and Cost Reduction Actions (Tables) | 12 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Business Restructuring and Cost Reduction Actions [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 2014: | ||||||||||||||||
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 | ||||||||||||
30-Sep-13 | $ | 62.4 | $ | - | $ | 0.8 | $ | 63.2 | ||||||||
Cash expenditures | -51.7 | - | -0.8 | -52.5 | ||||||||||||
Currency translation adjustment | -0.6 | - | - | -0.6 | ||||||||||||
30-Sep-14 | $ | 10.1 | $ | - | $ | - | $ | 10.1 | ||||||||
The following table summarizes the carrying amount of the accrual for the 2012 plans at 30 September 2014: | ||||||||||||||||
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 | |||||||||||
30-Sep-13 | $ | 1.1 | $ | - | $ | 1.9 | $ | 0.9 | $ | 3.9 | ||||||
Cash expenditures | -1.1 | - | -1.9 | -0.9 | -3.9 | |||||||||||
30-Sep-14 | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||
(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 16, Commitments and Contingencies. |
Inventories_Tables
Inventories (Tables) | 12 Months Ended | |||||
Sep. 30, 2014 | ||||||
Inventories [Abstract] | ' | |||||
Schedule of Inventory | ' | |||||
30-Sep | 2014 | 2013 | ||||
Inventories at FIFO cost | ||||||
Finished goods | $ | 493.9 | $ | 527.3 | ||
Work in process | 34.1 | 38.7 | ||||
Raw materials, supplies and other | 283.4 | 234.9 | ||||
811.4 | 800.9 | |||||
Less: Excess of FIFO cost over LIFO cost | -105.4 | -94.8 | ||||
$ | 706 | $ | 706.1 |
Summarized_Financial_Informati1
Summarized Financial Information of Equity Affiliates (Tables) | 12 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
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 | 2014 | 2013 | |||||||
Current assets | $ | 1,440.00 | $ | 1,307.90 | |||||
Noncurrent assets | 2,464.60 | 2,396.10 | |||||||
Current liabilities | 745.2 | 795.2 | |||||||
Noncurrent liabilities | 743 | 648.6 | |||||||
Year Ended 30 September | 2014 | 2013 | 2012 | ||||||
Net sales | $ | 2,808.70 | $ | 2,845.90 | $ | 2,675.30 | |||
Sales less cost of sales | 984.7 | 1,003.30 | 937 | ||||||
Operating income | 542.9 | 547.3 | 529.7 | ||||||
Net income | 359.5 | 360.5 | 347.6 |
Plant_and_Equipment_net_Tables
Plant and Equipment, net (Tables) | 12 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment [Table Text Block] | ' | ||||||||
Useful Life | |||||||||
30-Sep | in years | 2014 | 2013 | ||||||
Land | $ | 236.6 | $ | 240.5 | |||||
Buildings | 30 | 1,105.00 | 1,076.30 | ||||||
Production facilities (A) | |||||||||
Merchant Gases | 15 | 4,034.40 | 4,109.10 | ||||||
Tonnage Gases | 15 to 20 | 6,757.80 | 6,769.30 | ||||||
Electronics and Performance Materials | 10 to 15 | 2,057.10 | 2,193.90 | ||||||
Equipment and Energy | 5 to 20 | 94.4 | 172.4 | ||||||
Total production facilities | 12,943.70 | 13,244.70 | |||||||
Distribution and other machinery and equipment(B) | 5 to 25 | 4,175.30 | 3,674.40 | ||||||
Construction in progress | 1,762.90 | 1,294.00 | |||||||
Plant and equipment, at cost | 20,223.50 | 19,529.90 | |||||||
Less: accumulated depreciation | 10,691.40 | 10,555.90 | |||||||
Plant and equipment, net | $ | 9,532.10 | $ | 8,974.00 | |||||
(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, 2014 | ||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||
Schedule of Goodwill [Table Text Block] | ' | |||||||||||
Electronics and | ||||||||||||
Merchant | Tonnage | Performance | ||||||||||
Gases | Gases | Materials | Total | |||||||||
Goodwill, net 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 | ||||||||
Goodwill, net at 30 September 2013 | $ | 1,192.00 | $ | 15.2 | $ | 446.6 | $ | 1,653.80 | ||||
Impairment loss | -305.2 | - | - | -305.2 | ||||||||
Currency translation and other | -105.6 | -1.9 | -3.8 | -111.3 | ||||||||
Goodwill, net at 30 September 2014 | $ | 781.2 | $ | 13.3 | $ | 442.8 | $ | 1,237.30 | ||||
30-Sep | 2014 | 2013 | 2012 | |||||||||
Goodwill, gross | $ | 1,522.10 | $ | 1,653.80 | $ | 1,598.40 | ||||||
Accumulated impairment losses (A) | -284.8 | - | - | |||||||||
Goodwill, net | $ | 1,237.30 | $ | 1,653.80 | $ | 1,598.40 | ||||||
(A)Amount is attributable to the Merchant Gases segment and includes currency translation of $20.4. |
Intangibles_Tables
Intangibles (Tables) | 12 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||
Schedule Finite and Indefinite Lived Intangible Assets [Table Text Block] | ' | ||||||||||||||||||||
30-Sep-14 | 30-Sep-13 | ||||||||||||||||||||
Accumulated | Accumulated | ||||||||||||||||||||
Amortization/ | Amortization/ | ||||||||||||||||||||
Gross | Impairment | Net | Gross | Impairment | Net | ||||||||||||||||
Customer relationships | $ | 577.8 | $ | -119 | $ | 458.8 | $ | 629.2 | $ | -97.3 | $ | 531.9 | |||||||||
Patents and technology | 82.4 | -52.2 | 30.2 | 91.3 | -52.1 | 39.2 | |||||||||||||||
Other | 84.7 | -32.5 | 52.2 | 91.5 | -35.9 | 55.6 | |||||||||||||||
Total finite-lived intangibles | 744.9 | -203.7 | 541.2 | 812 | -185.3 | 626.7 | |||||||||||||||
Trade names and trademarks, indefinite-lived | 79.3 | -4.7 | 74.6 | 90.6 | - | 90.6 | |||||||||||||||
Total Intangible Assets | $ | 824.2 | $ | -208.4 | $ | 615.8 | $ | 902.6 | $ | -185.3 | $ | 717.3 | |||||||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | ' | ||||||||||||||||||||
Projected annual amortization expense for intangible assets as of 30 September 2014 is as follows: | |||||||||||||||||||||
2015 | $ | 38.8 | |||||||||||||||||||
2016 | 36.2 | ||||||||||||||||||||
2017 | 35.3 | ||||||||||||||||||||
2018 | 33.6 | ||||||||||||||||||||
2019 | 32.1 | ||||||||||||||||||||
Thereafter | 365.2 | ||||||||||||||||||||
Total | $ | 541.2 |
Leases_Tables
Leases (Tables) | 12 Months Ended | |||||
Sep. 30, 2014 | ||||||
Leases [Abstract] | ' | |||||
Schedule Of Future Minimum Lease Payments For Capital Leases [Table Text Block] | ' | |||||
Capital | ||||||
Leases | ||||||
2015 | $ | 0.6 | ||||
2016 | 0.5 | |||||
2017 | 0.5 | |||||
2018 | 0.3 | |||||
2019 | 0.1 | |||||
Thereafter | 1.7 | |||||
Total | $ | 3.7 | ||||
Schedule Of Future Minimum Rental Payments For Operating Leases [Table Text Block] | ' | |||||
Operating | ||||||
Leases | ||||||
2015 | $ | 70.3 | ||||
2016 | 47.9 | |||||
2017 | 34.2 | |||||
2018 | 27.2 | |||||
2019 | 19.1 | |||||
Thereafter | 116.3 | |||||
Total | $ | 315 | ||||
Schedule of Minimum Lease Payments to be Collected [Table Text Block] | ' | |||||
30-Sep | 2014 | 2013 | ||||
Gross minimum lease payments receivable | $ | 2,423.30 | $ | 2,253.20 | ||
Unearned interest income | -940.6 | -709.1 | ||||
Lease Receivables, net | $ | 1,482.70 | $ | 1,544.10 | ||
2015 | $ | 145.6 | ||||
2016 | 187.4 | |||||
2017 | 186 | |||||
2018 | 184.7 | |||||
2019 | 179.1 | |||||
Thereafter | 1,540.50 | |||||
Total | $ | 2,423.30 |
Financial_Instruments_Tables
Financial Instruments (Tables) | 12 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||
Financial Instruments [Abstract] | ' | ||||||||||||||||||||||||||
Schedule of Outstanding Currency Price Risk Management Instruments | ' | ||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||
Years | Years | ||||||||||||||||||||||||||
US$ | Average | US$ | Average | ||||||||||||||||||||||||
30-Sep | Notional | Maturity | Notional | Maturity | |||||||||||||||||||||||
Forward Exchange Contracts | |||||||||||||||||||||||||||
Cash flow hedges | $ | 2,965.50 | 0.7 | $ | 2,653.40 | 0.6 | |||||||||||||||||||||
Net investment hedges | 685.9 | 2.9 | 1,231.80 | 2.4 | |||||||||||||||||||||||
Not designated | 381.5 | 0.1 | 751.9 | 0.1 | |||||||||||||||||||||||
Total Forward Exchange Contracts | $ | 4,032.90 | 1 | $ | 4,637.10 | 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-14 | 30-Sep-13 | ||||||||||||||||||||||||||
Average | Years | Average | Years | ||||||||||||||||||||||||
US$ | Receive | Average | US$ | Receive | Average | ||||||||||||||||||||||
Notional | Pay % | % | Maturity | Notional | Pay % | % | Maturity | ||||||||||||||||||||
Interest rate swaps (fair value hedge) | $ | 600 | LIBOR | 2.77% | 4.3 | $ | 300 | LIBOR | 3.61% | 5.9 | |||||||||||||||||
Cross currency interest rate swaps | |||||||||||||||||||||||||||
(net investment hedge) | $ | 404.5 | 3.70% | 1.15% | 2.7 | $ | 310.8 | 3.87% | 0.72% | 2.4 | |||||||||||||||||
Interest rate swaps (cash flow hedge) | $ | 431.7 | 2.36% | 0.71% | 0.4 | $ | 52.8 | 6.84% | 5.64% | 1.4 | |||||||||||||||||
Cross currency interest rate swaps | |||||||||||||||||||||||||||
(cash flow hedge) | $ | 446.3 | 3.39% | 2.86% | 4.2 | $ | 169.3 | 3.48% | 2.53% | 4.8 | |||||||||||||||||
Cross currency interest rate swaps | |||||||||||||||||||||||||||
(not designated) | $ | 15.4 | 3.62% | 0.05% | 0.8 | - | - | - | - | ||||||||||||||||||
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 | 2014 | 2013 | Location | 2014 | 2013 | ||||||||||||||||||||||
Derivatives Designated as | |||||||||||||||||||||||||||
Hedging Instruments: | |||||||||||||||||||||||||||
Forward exchange contracts | Other receivables | $ | 78.9 | $ | 52.2 | Accrued liabilities | $ | 61.8 | $ | 22.5 | |||||||||||||||||
Interest rate management contracts | Other receivables | 21.1 | - | Accrued liabilities | 18.8 | 3.5 | |||||||||||||||||||||
Other noncurrent | Other noncurrent | ||||||||||||||||||||||||||
Forward exchange contracts | assets | 10.5 | 28.7 | liabilities | 3.1 | 7.7 | |||||||||||||||||||||
Other noncurrent | Other noncurrent | ||||||||||||||||||||||||||
Interest rate management contracts | assets | 54.6 | 35.4 | liabilities | 0.3 | 6.1 | |||||||||||||||||||||
Total Derivatives Designated as | |||||||||||||||||||||||||||
Hedging Instruments | $ | 165.1 | $ | 116.3 | $ | 84 | $ | 39.8 | |||||||||||||||||||
Derivatives Not Designated as | |||||||||||||||||||||||||||
Hedging Instruments: | |||||||||||||||||||||||||||
Forward exchange contracts | Other receivables | $ | 4 | $ | 9.6 | Accrued liabilities | $ | 1.9 | $ | 1.5 | |||||||||||||||||
Interest rate management contracts | Other receivables | 2.6 | - | Accrued liabilities | - | - | |||||||||||||||||||||
Total Derivatives Not Designated | |||||||||||||||||||||||||||
as Hedging Instruments | $ | 6.6 | $ | 9.6 | $ | 1.9 | $ | 1.5 | |||||||||||||||||||
Total Derivatives | $ | 171.7 | $ | 125.9 | $ | 85.9 | $ | 41.3 | |||||||||||||||||||
Schedule of Gain/Loss Related to Derivative Instruments | ' | ||||||||||||||||||||||||||
Year Ended 30 September | |||||||||||||||||||||||||||
Forward | Foreign Currency | ||||||||||||||||||||||||||
Exchange Contracts | Debt | Other (A) | Total | ||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||
Cash Flow Hedges, net of tax: | |||||||||||||||||||||||||||
Net gain (loss) recognized in OCI | |||||||||||||||||||||||||||
(effective portion) | $ | -4.5 | $ | 24.6 | $ | - | $ | - | $ | -10.7 | $ | 10.4 | $ | -15.2 | $ | 35 | |||||||||||
Net (gain) loss reclassified from OCI | |||||||||||||||||||||||||||
to sales/cost of sales (effective portion) | 0.7 | 1 | - | - | - | - | 0.7 | 1 | |||||||||||||||||||
Net (gain) loss reclassified from OCI to other | |||||||||||||||||||||||||||
income, net (effective portion) | 1.7 | -23.9 | - | - | -9.5 | 2.4 | -7.8 | -21.5 | |||||||||||||||||||
Net (gain)loss reclassified from OCI | |||||||||||||||||||||||||||
to interest expense (effective portion) | -1.4 | -0.4 | - | - | 0.3 | 0.7 | -1.1 | 0.3 | |||||||||||||||||||
Net (gain) loss reclassified from OCI to other | |||||||||||||||||||||||||||
income, net (ineffective portion) | -0.9 | - | - | - | - | - | -0.9 | - | |||||||||||||||||||
Fair Value Hedges: | |||||||||||||||||||||||||||
Net gain (loss) recognized in interest expense(B) | $ | - | $ | - | $ | - | $ | - | $ | -5 | $ | -19.8 | $ | -5 | $ | -19.8 | |||||||||||
Net Investment Hedges, net of tax: | |||||||||||||||||||||||||||
Net gain (loss) recognized in OCI | $ | 17.1 | $ | -15.3 | $ | 51.5 | $ | -37.7 | $ | 17 | $ | 1.8 | $ | 85.6 | $ | -51.2 | |||||||||||
Derivatives Not Designated as Hedging | |||||||||||||||||||||||||||
Instruments: | |||||||||||||||||||||||||||
Net gain (loss) recognized in other income, net(C) | $ | -7.2 | $ | 5.3 | $ | - | $ | - | $ | 1.5 | $ | - | $ | -5.7 | $ | 5.3 |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||||
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 | 2014 | 2013 | ||||||||||||||||||||||||||
Carrying Value | Fair Value | Carrying Value | Fair Value | |||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||
Derivatives | ||||||||||||||||||||||||||||
Forward exchange contracts | $ | 93.4 | $ | 93.4 | $ | 90.5 | $ | 90.5 | ||||||||||||||||||||
Interest rate management contracts | 78.3 | 78.3 | 35.4 | 35.4 | ||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||
Derivatives | ||||||||||||||||||||||||||||
Forward exchange contracts | $ | 66.8 | $ | 66.8 | $ | 31.7 | $ | 31.7 | ||||||||||||||||||||
Interest rate management contracts | 19.1 | 19.1 | 9.6 | 9.6 | ||||||||||||||||||||||||
Long-term debt, including current portion | 4,889.80 | 5,130.70 | 5,563.70 | 5,804.10 | ||||||||||||||||||||||||
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-14 | 30-Sep-13 | |||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||
Assets at Fair Value | ||||||||||||||||||||||||||||
Derivatives | ||||||||||||||||||||||||||||
Forward exchange contracts | $ | 93.4 | $ | - | $ | 93.4 | $ | - | $ | 90.5 | $ | - | $ | 90.5 | $ | - | ||||||||||||
Interest rate management contracts | 78.3 | - | 78.3 | - | 35.4 | - | 35.4 | - | ||||||||||||||||||||
Total Assets at Fair Value | $ | 171.7 | $ | - | $ | 171.7 | $ | - | $ | 125.9 | $ | - | $ | 125.9 | $ | - | ||||||||||||
Liabilities at Fair Value | ||||||||||||||||||||||||||||
Derivatives | ||||||||||||||||||||||||||||
Forward exchange contracts | $ | 66.8 | $ | - | $ | 66.8 | $ | - | $ | 31.7 | $ | - | $ | 31.7 | $ | - | ||||||||||||
Interest rate management contracts | 19.1 | - | 19.1 | - | 9.6 | - | 9.6 | - | ||||||||||||||||||||
Total Liabilities at Fair Value | $ | 85.9 | $ | - | $ | 85.9 | $ | - | $ | 41.3 | $ | - | $ | 41.3 | $ | - | ||||||||||||
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 | $ | - | $ | - | $ | 10.8 | $ | 11.9 | ||||||||||||||||||
Long-lived assets—Discontinued operations (B) | - | - | - | - | 18.7 | |||||||||||||||||||||||
(A) In conjunction with the 2013 business restructuring and cost reduction plan, long-lived assets held for sale were written down to fair | ||||||||||||||||||||||||||||
value using a market approach based on prices for other market transactions and our assessment of value considering our knowledge of the | ||||||||||||||||||||||||||||
markets. For additional information, see Note 4, Business Restructuring and Cost Reduction Actions. | ||||||||||||||||||||||||||||
(B) During 2013, an impairment charge was 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, 2014 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Schedule of Debt [Table Text Block] | ' | ||||||||
Total Debt | |||||||||
30-Sep | 2014 | 2013 | |||||||
Short-term borrowings | $ | 1,228.70 | $ | 709.9 | |||||
Current portion of long-term debt | 65.3 | 507.4 | |||||||
Long-term debt | 4,824.50 | 5,056.30 | |||||||
Total Debt | $ | 6,118.50 | $ | 6,273.60 | |||||
Schedule of Short-term Debt [Table Text Block] | ' | ||||||||
Short-term Borrowings | |||||||||
30-Sep | 2014 | 2013 | |||||||
Bank obligations | $ | 320.7 | $ | 218.9 | |||||
Commercial paper | 908 | 491 | |||||||
Total Short-term Borrowings | $ | 1,228.70 | $ | 709.9 | |||||
Schedule of Long-term Debt Instruments [Table Text Block] | ' | ||||||||
Long-term Debt | |||||||||
30-Sep | Fiscal Year Maturities | 2014 | 2013 | ||||||
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 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 | 400 | ||||||
Note 3.35% | 2024 | 400 | - | ||||||
Other (weighted average rate) | |||||||||
Variable-rate industrial revenue bonds 0.04% | 2021 to 2050 | 917.1 | 917.1 | ||||||
Commercial Paper 0.1% | 2014 | - | 400 | ||||||
Other 2.5% | 2015 to 2020 | 25.3 | 46.8 | ||||||
Payable in Other Currencies | |||||||||
Eurobonds 3.75% | 2014 | - | 405.7 | ||||||
Eurobonds 3.875% | 2015 | 378.9 | 405.7 | ||||||
RMB Syndicated Credit Facility 4.05% | 2014 | - | 40.9 | ||||||
Eurobonds 4.625% | 2017 | 378.9 | 405.7 | ||||||
Eurobonds 2.0% | 2020 | 378.9 | 405.7 | ||||||
CLP Series E bonds 6.3% | 2030 | 143.1 | 163.8 | ||||||
Other 5.6% | 2015 to 2022 | 253.1 | 358.7 | ||||||
Capital Lease Obligations | |||||||||
United States 5.0% | 2018 | 1 | 1.3 | ||||||
Foreign 9.2% | 2017 to 2021 | 1.5 | 0.3 | ||||||
Less: Unamortized Discount | -5.7 | -5.7 | |||||||
Total Long-term Debt | 4,889.80 | 5,563.70 | |||||||
Less: Current portion of long-term debt | -65.3 | -507.4 | |||||||
Long-term Debt | $ | 4,824.50 | $ | 5,056.30 | |||||
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: | |||||||||
2015 | $ | 444.2 | |||||||
2016 | 410.5 | ||||||||
2017 | 424.8 | ||||||||
2018 | 448.5 | ||||||||
2019 | 422.5 | ||||||||
Thereafter | 2,739.30 | ||||||||
Total | $ | 4,889.80 |
Retirement_Benefits_Tables
Retirement Benefits (Tables) | 12 Months Ended | |||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||
Schedule of Changes in Projected Benefit Obligations [Table Text Block] | ' | |||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||
U.S. | International | U.S. | International | |||||||||||||||||||||||
Change in Projected Benefit Obligation | ||||||||||||||||||||||||||
Obligation at beginning of year | $ | 2,809.00 | $ | 1,585.00 | $ | 3,077.90 | $ | 1,408.60 | ||||||||||||||||||
Service cost | 42.6 | 36 | 51.8 | 31.5 | ||||||||||||||||||||||
Interest cost | 130.7 | 67.2 | 117.1 | 57.3 | ||||||||||||||||||||||
Amendments | 1 | -0.1 | 2.6 | -4.4 | ||||||||||||||||||||||
Actuarial (gain) loss | 135.4 | 130.3 | -318.5 | 113.5 | ||||||||||||||||||||||
Settlement (gain) loss | 5.9 | -1.9 | 8.9 | -2.8 | ||||||||||||||||||||||
Special termination benefits | 0.2 | 0.1 | 1.2 | 6.2 | ||||||||||||||||||||||
Participant contributions | - | 2.4 | - | 2.3 | ||||||||||||||||||||||
Benefits paid | -123.1 | -50.1 | -131.4 | -45.2 | ||||||||||||||||||||||
Currency translation/other | 1.2 | -33.2 | -0.6 | 18 | ||||||||||||||||||||||
Obligation at End of Year | $ | 3,002.90 | $ | 1,735.70 | $ | 2,809.00 | $ | 1,585.00 | ||||||||||||||||||
Schedule of Changes in Fair Value of Plan Assets [Table Text Block] | ' | |||||||||||||||||||||||||
Change in Plan Assets | ||||||||||||||||||||||||||
Fair value at beginning of year | $ | 2,534.20 | $ | 1,266.60 | $ | 2,099.80 | $ | 1,139.30 | ||||||||||||||||||
Actual return on plan assets | 317.6 | 116.3 | 313.4 | 117.5 | ||||||||||||||||||||||
Company contributions | 17.5 | 60.7 | 252.4 | 48.4 | ||||||||||||||||||||||
Participant contributions | - | 2.4 | - | 2.3 | ||||||||||||||||||||||
Benefits paid | -123.1 | -50.1 | -131.4 | -45.2 | ||||||||||||||||||||||
Settlements | - | -1.9 | - | -2.8 | ||||||||||||||||||||||
Currency translation/other | - | -25.6 | - | 7.1 | ||||||||||||||||||||||
Fair Value at End of Year | $ | 2,746.20 | $ | 1,368.40 | $ | 2,534.20 | $ | 1,266.60 | ||||||||||||||||||
Funded Status at End of Year | $ | -256.7 | $ | -367.3 | $ | -274.8 | $ | -318.4 | ||||||||||||||||||
Schedule of Amounts Recognized in Balance Sheet [Table Text Block] | ' | |||||||||||||||||||||||||
Amounts Recognized | ||||||||||||||||||||||||||
Noncurrent assets | $ | 22.7 | $ | 0.2 | $ | 19.4 | $ | 1.1 | ||||||||||||||||||
Accrued liabilities | -37.7 | - | -14.7 | - | ||||||||||||||||||||||
Noncurrent liabilities | -241.7 | -367.5 | -279.5 | -319.5 | ||||||||||||||||||||||
Net Amount Recognized | $ | -256.7 | $ | -367.3 | $ | -274.8 | $ | -318.4 | ||||||||||||||||||
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: | ||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||
U.S. | International | U.S. | International | |||||||||||||||||||||||
Net actuarial loss | $ | 798.2 | $ | 597.9 | $ | 869.8 | $ | 541.8 | ||||||||||||||||||
Prior service cost | 11.7 | 1.1 | 13.7 | 1.4 | ||||||||||||||||||||||
Net transition liability | - | 0.4 | - | 0.4 | ||||||||||||||||||||||
Total | $ | 809.9 | $ | 599.4 | $ | 883.5 | $ | 543.6 | ||||||||||||||||||
Pension Plans, Defined Benefit [Member] | ' | |||||||||||||||||||||||||
Schedule of Net Periodic Benefit Cost | ' | |||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||
U.S. | International | U.S. | International | U.S. | International | |||||||||||||||||||||
Service cost | $ | 42.6 | $ | 36 | $ | 51.8 | $ | 31.5 | $ | 45.1 | $ | 24.1 | ||||||||||||||
Interest cost | 130.7 | 67.2 | 117.1 | 57.3 | 124.2 | 62.3 | ||||||||||||||||||||
Expected return on plan assets | -187.8 | -78.1 | -185.4 | -71.2 | -178.2 | -66.7 | ||||||||||||||||||||
Amortization | ||||||||||||||||||||||||||
Net actuarial loss | 78.3 | 36.1 | 116 | 27 | 78.6 | 17.4 | ||||||||||||||||||||
Prior service cost | 2.9 | 0.2 | 2.9 | 0.2 | 2.7 | 0.5 | ||||||||||||||||||||
Settlement loss | 4.8 | 0.7 | 11.5 | 0.9 | - | 1.4 | ||||||||||||||||||||
Special termination benefits | 0.2 | 0.1 | 1.2 | 6.2 | 4.6 | 2.2 | ||||||||||||||||||||
Other | - | 2 | - | 2.7 | - | 2.2 | ||||||||||||||||||||
Net Periodic Pension Cost | $ | 71.7 | $ | 64.2 | $ | 115.1 | $ | 54.6 | $ | 77 | $ | 43.4 | ||||||||||||||
Weighted Average Assumptions Used In The Calculation Of Net Periodic Pension Cost And PBO | ' | |||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||
U.S. | International | U.S. | International | U.S. | International | |||||||||||||||||||||
Discount rate | 4.8 | % | 4.3 | % | 3.9 | % | 4.3 | % | 4.9 | % | 5.5 | % | ||||||||||||||
Expected return on plan assets | 8.3 | % | 6.5 | % | 8.3 | % | 6.5 | % | 8.8 | % | 6.6 | % | ||||||||||||||
Rate of compensation increase | 4 | % | 3.7 | % | 4 | % | 3.4 | % | 4 | % | 3.8 | % | ||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||
U.S. | International | U.S. | International | |||||||||||||||||||||||
Discount rate | 4.3 | % | 3.6 | % | 4.8 | % | 4.3 | % | ||||||||||||||||||
Rate of compensation increase | 3.5 | % | 3.6 | % | 4 | % | 3.7 | % | ||||||||||||||||||
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 2014 and 2013 consist of the following: | ||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||
U.S. | International | U.S. | International | |||||||||||||||||||||||
Net actuarial (gain) loss arising during the period | $ | 11.5 | $ | 92.9 | $ | -437.6 | $ | 67.2 | ||||||||||||||||||
Amortization of net actuarial loss | -83.1 | -36.8 | -127.5 | -27.9 | ||||||||||||||||||||||
Prior service cost (credit) arising during the period | 0.9 | -0.1 | 2.6 | -4.4 | ||||||||||||||||||||||
Amortization of prior service cost | -2.9 | -0.2 | -2.9 | -0.2 | ||||||||||||||||||||||
Total | $ | -73.6 | $ | 55.8 | $ | -565.4 | $ | 34.7 | ||||||||||||||||||
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 2014 that is expected to be recognized as a component of | ||||||||||||||||||||||||||
net periodic pension cost during fiscal year 2015, excluding amounts that may be recognized through settlement losses, is as follows: | ||||||||||||||||||||||||||
U.S. | International | |||||||||||||||||||||||||
Net actuarial loss | $ | 79.7 | $ | 43.2 | ||||||||||||||||||||||
Prior service cost | 2.6 | 0.2 | ||||||||||||||||||||||||
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-14 | 30-Sep-13 | |||||||||||||||||||||||||
U.S. | International | U.S. | International | |||||||||||||||||||||||
Pension Plans with PBO in Excess of Plan Assets: | ||||||||||||||||||||||||||
PBO | $ | 2,786.60 | $ | 1,723.90 | $ | 2,607.60 | $ | 1,558.70 | ||||||||||||||||||
Fair value of plan assets | 2,507.30 | 1,356.60 | 2,313.40 | 1,239.40 | ||||||||||||||||||||||
Pension Plans with ABO in Excess of Plan Assets: | ||||||||||||||||||||||||||
ABO | $ | 131.4 | $ | 1,553.90 | $ | 139.3 | $ | 1,401.30 | ||||||||||||||||||
Fair value of plan assets | - | 1,318.40 | - | 1,205.80 | ||||||||||||||||||||||
Schedule Of Target And Actual Asset Allocations By Category [Table Text Block] | ' | |||||||||||||||||||||||||
2014 Target Allocation | 2014 Actual Allocation | 2013 Actual Allocation | ||||||||||||||||||||||||
Asset Category | U.S. | International | U.S. | International | U.S. | International | ||||||||||||||||||||
Equity securities | 60–80% | 55–66% | 70% | 61% | 71% | 61% | ||||||||||||||||||||
Debt securities | 20–30% | 33–44% | 25% | 37% | 23% | 36% | ||||||||||||||||||||
Real estate/other | 0–10% | 0–2% | 5% | 1% | 5% | 1% | ||||||||||||||||||||
Cash | — | — | 0% | 1% | 1% | 2% | ||||||||||||||||||||
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-14 | 30-Sep-13 | |||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||
U.S. Qualified Pension | ||||||||||||||||||||||||||
Plans | ||||||||||||||||||||||||||
Cash and cash equivalents | $ | 9.9 | $ | 9.9 | $ | - | $ | - | $ | 10.1 | $ | 10.1 | $ | - | $ | - | ||||||||||
Equity securities | 724.5 | 724.5 | - | - | 764.3 | 764.3 | - | - | ||||||||||||||||||
Equity mutual funds | 535 | 535 | - | - | 487 | 487 | - | - | ||||||||||||||||||
Equity pooled funds | 651.6 | - | 651.6 | - | 561.4 | - | 561.4 | - | ||||||||||||||||||
Fixed income: | ||||||||||||||||||||||||||
Bonds (government and | ||||||||||||||||||||||||||
corporate) | 636.8 | - | 636.8 | - | 12.5 | - | 12.5 | - | ||||||||||||||||||
Mortgage and asset- | ||||||||||||||||||||||||||
backed securities | 12.8 | - | 12.8 | - | 14.7 | - | 14.7 | - | ||||||||||||||||||
Mutual funds | 25.4 | 25.4 | - | - | 24 | 24 | - | - | ||||||||||||||||||
Pooled funds | - | - | - | - | 527.4 | - | 527.4 | - | ||||||||||||||||||
Real estate pooled funds | 150.2 | - | - | 150.2 | 132.8 | - | - | 132.8 | ||||||||||||||||||
Total U.S. Qualified | ||||||||||||||||||||||||||
Pension Plans | $ | 2,746.20 | $ | 1,294.80 | $ | 1,301.10 | $ | 150.2 | $ | 2,534.20 | $ | 1,285.40 | $ | 1,116.00 | $ | 132.8 | ||||||||||
International Pension | ||||||||||||||||||||||||||
Plans | ||||||||||||||||||||||||||
Cash and cash equivalents | $ | 11 | $ | 11 | $ | - | $ | - | $ | 16.9 | $ | 16.9 | $ | - | $ | - | ||||||||||
Equity pooled funds | 837.2 | - | 837.2 | - | 776 | - | 776 | - | ||||||||||||||||||
Fixed income pooled funds | 440.9 | - | 440.9 | - | 385.3 | - | 385.3 | - | ||||||||||||||||||
Other pooled funds | 19.6 | - | 10.3 | 9.3 | 20.1 | - | 10.7 | 9.4 | ||||||||||||||||||
Insurance contracts | 59.7 | - | - | 59.7 | 68.3 | - | - | 68.3 | ||||||||||||||||||
Total International | ||||||||||||||||||||||||||
Pension Plans | $ | 1,368.40 | $ | 11 | $ | 1,288.40 | $ | 69 | $ | 1,266.60 | $ | 16.9 | $ | 1,172.00 | $ | 77.7 | ||||||||||
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-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 | ||||||||||||||||||
Actual return on plan assets: | ||||||||||||||||||||||||||
Assets held at end of year | 17.4 | -0.9 | - | 16.5 | ||||||||||||||||||||||
Assets sold during the period | - | 1.2 | - | 1.2 | ||||||||||||||||||||||
Purchases, sales, and settlements, net | - | -0.4 | -8.6 | -9 | ||||||||||||||||||||||
30-Sep-14 | $ | 150.2 | $ | 9.3 | $ | 59.7 | $ | 219.2 | ||||||||||||||||||
Schedule of Expected Benefit Payments [Table Text Block] | ' | |||||||||||||||||||||||||
Projected benefit payments, which reflect expected future service, are as follows: | ||||||||||||||||||||||||||
U.S. | International | |||||||||||||||||||||||||
2015 | $ | 122.5 | $ | 51.8 | ||||||||||||||||||||||
2016 | 129 | 54.6 | ||||||||||||||||||||||||
2017 | 138.6 | 55.4 | ||||||||||||||||||||||||
2018 | 145.4 | 16.5 | ||||||||||||||||||||||||
2019 | 154 | 16.3 | ||||||||||||||||||||||||
2020–2024 | 899.2 | 111.6 | ||||||||||||||||||||||||
Other Postretirement Benefits [Member] | ' | |||||||||||||||||||||||||
Schedule of Net Periodic Benefit Cost | ' | |||||||||||||||||||||||||
The cost of our other postretirement benefit plans includes the following components: | ||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||
Service cost | $ | 3.3 | $ | 4.3 | $ | 4.5 | ||||||||||||||||||||
Interest cost | 2.3 | 1.9 | 3.9 | |||||||||||||||||||||||
Amortization of net actuarial loss | 1.7 | 2.3 | 2.9 | |||||||||||||||||||||||
Net Periodic Postretirement Cost | $ | 7.3 | $ | 8.5 | $ | 11.3 | ||||||||||||||||||||
Schedule of Changes in Projected Benefit Obligations [Table Text Block] | ' | |||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||
Obligation at beginning of year | $ | 99.9 | $ | 119.9 | ||||||||||||||||||||||
Service cost | 3.3 | 4.3 | ||||||||||||||||||||||||
Interest cost | 2.3 | 1.9 | ||||||||||||||||||||||||
Actuarial gain | -3 | -14.5 | ||||||||||||||||||||||||
Benefits paid | -9 | -11.7 | ||||||||||||||||||||||||
Obligation at End of Year | $ | 93.5 | $ | 99.9 | ||||||||||||||||||||||
Schedule of Amounts Recognized in Balance Sheet [Table Text Block] | ' | |||||||||||||||||||||||||
Amounts Recognized | ||||||||||||||||||||||||||
Accrued liabilities | $ | 10.7 | $ | 10.9 | ||||||||||||||||||||||
Noncurrent liabilities | 82.8 | 89 | ||||||||||||||||||||||||
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 2014 and 2013 | ||||||||||||||||||||||||||
for our other postretirement benefit plans consist of the following: | ||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||
Net actuarial gain arising during the period | $ | -3 | $ | -14.5 | ||||||||||||||||||||||
Amortization of net actuarial loss | -1.7 | -2.3 | ||||||||||||||||||||||||
Total | $ | -4.7 | $ | -16.8 | ||||||||||||||||||||||
Schedule of Health Care Cost Trend Rates [Table Text Block] | ' | |||||||||||||||||||||||||
The assumed healthcare trend rates are as follows: | ||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||
Healthcare trend rate | 7% | 7.50% | ||||||||||||||||||||||||
Ultimate trend rate | 5% | 5% | ||||||||||||||||||||||||
Year the ultimate trend rate is reached | 2019 | 2019 | ||||||||||||||||||||||||
Schedule of Expected Benefit Payments [Table Text Block] | ' | |||||||||||||||||||||||||
Projected benefit payments are as follows: | ||||||||||||||||||||||||||
2015 | $ | 10.9 | ||||||||||||||||||||||||
2016 | 11 | |||||||||||||||||||||||||
2017 | 10.8 | |||||||||||||||||||||||||
2018 | 10.6 | |||||||||||||||||||||||||
2019 | 10.3 | |||||||||||||||||||||||||
2020–2024 | 42.9 |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | |||
Sep. 30, 2014 | ||||
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 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 | ||
Additional accruals | 5.6 | |||
Liabilities settled | -4.9 | |||
Accretion expense | 5.2 | |||
Currency translation adjustment | -1.7 | |||
Balance at 30 September 2014 | $ | 94 | ||
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: | ||||
2015 | $ | 929 | ||
2016 | 154 | |||
2017 | 81 | |||
2018 | 65 | |||
2019 | 63 | |||
Thereafter | 256 | |||
Total | $ | 1,548 |
Capital_Stock_Tables
Capital Stock (Tables) | 12 Months Ended | |||||
Sep. 30, 2014 | ||||||
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 | 2014 | 2013 | 2012 | |||
Number of Common Shares Outstanding | ||||||
Balance, beginning of year | 211,179,257 | 212,475,880 | 210,185,256 | |||
Purchase of treasury shares | - | -5,721,017 | -594,916 | |||
Issuance of treasury shares for stock option and award plans | 2,358,887 | 4,424,394 | 2,885,540 | |||
Balance, end of year | 213,538,144 | 211,179,257 | 212,475,880 |
ShareBased_Compensation_Tables
Share-Based Compensation (Tables) | 12 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
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: | |||||||||
2014 | 2013 | 2012 | |||||||
Before-Tax Share-Based Compensation Cost | $ | 44 | $ | 43.5 | $ | 43.8 | |||
Income tax benefit | -15.6 | -15.7 | -15.7 | ||||||
After-Tax Share-Based Compensation Cost | $ | 28.4 | $ | 27.8 | $ | 28.1 | |||
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: | |||||||||
2014 | 2013 | 2012 | |||||||
Stock options | $ | 21.6 | $ | 21.5 | $ | 22.1 | |||
Deferred stock units | 20.2 | 19.6 | 19.5 | ||||||
Restricted stock | 2.2 | 2.4 | 2.2 | ||||||
Before-Tax Share-Based Compensation Cost | $ | 44 | $ | 43.5 | $ | 43.8 | |||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | ' | ||||||||
2014 | 2013 | 2012 | |||||||
Expected volatility | 29.8%–31.1 | % | 28.6%–30.4 | % | 29.0%–30.4 | % | |||
Expected dividend yield | 2.4%–2.9 | % | 2.4 | % | 2.3 | % | |||
Expected life (in years) | 6.5–8.4 | 7.3–9.1 | 7.3–9.0 | ||||||
Risk-free interest rate | 2.0%–2.7 | % | 1.2%–1.5 | % | 1.7%–2.1 | % | |||
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 2013 | 8,612 | $ | 75.69 | ||||||
Granted | 933 | 111.26 | |||||||
Exercised | -2,181 | 65.29 | |||||||
Forfeited | -80 | 94.9 | |||||||
Outstanding at 30 September 2014 | 7,284 | $ | 83.14 | ||||||
Exercisable at 30 September 2014 | 5,346 | $ | 78.64 | ||||||
Weighted Average | |||||||||
Remaining Contractual | Aggregate Intrinsic | ||||||||
Stock Options | Terms (in years) | Value | |||||||
Outstanding at 30 September 2014 | 5.6 | $ | 343 | ||||||
Exercisable at 30 September 2014 | 4.5 | $ | 276 | ||||||
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 2013 | 1,264 | $ | 75.64 | ||||||
Granted | 229 | 108.54 | |||||||
Paid out | -289 | 78.13 | |||||||
Forfeited/adjustments | -68 | 85.51 | |||||||
Outstanding at 30 September 2014 | 1,136 | $ | 81.03 | ||||||
Weighted Average | |||||||||
Restricted Stock | Shares (000) | Grant-Date Fair Value | |||||||
Outstanding at 30 September 2013 | 124 | $ | 78.51 | ||||||
Granted | 50 | 123.77 | |||||||
Vested | -98 | 77.33 | |||||||
Forfeited | -3 | 82.41 | |||||||
Outstanding at 30 September 2014 | 73 | $ | 110.75 |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended | ||||||||||||||
Sep. 30, 2014 | |||||||||||||||
Accumulated Other Comprehensive Loss Net of Tax [Abstract] | ' | ||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | ||||||||||||||
The table below summarizes changes in accumulated other comprehensive loss (AOCL), net of tax, attributable to Air Products: | |||||||||||||||
Net loss on derivatives qualifying as hedges | Foreign currency translation adjustments | Pension and postretirement benefits | Total | ||||||||||||
Balance at 30 September 2011 | $ | -9.5 | $ | -130.9 | $ | -1,113.00 | $ | -1,253.40 | |||||||
Other comprehensive income (loss) before reclassifications | -21.8 | 84.6 | -246 | -183.2 | |||||||||||
Amounts reclassified from AOCL | 12.4 | 13.3 | 67 | 92.7 | |||||||||||
Net current period other comprehensive income (loss) | $ | -9.4 | $ | 97.9 | $ | -179 | $ | -90.5 | |||||||
Amount attributable to noncontrolling interest | - | 5.8 | -0.9 | 4.9 | |||||||||||
Balance at 30 September 2012 | $ | -18.9 | $ | -38.8 | $ | -1,291.10 | $ | -1,348.80 | |||||||
Other comprehensive income (loss) before reclassifications | 35 | -25 | 231.9 | 241.9 | |||||||||||
Amounts reclassified from AOCL | -20.2 | 0.6 | 104.9 | 85.3 | |||||||||||
Net current period other comprehensive income (loss) | $ | 14.8 | $ | -24.4 | $ | 336.8 | $ | 327.2 | |||||||
Amount attributable to noncontrolling interest | - | -1.7 | 0.7 | -1 | |||||||||||
Balance at 30 September 2013 | $ | -4.1 | $ | -61.5 | $ | -955 | $ | -1,020.60 | |||||||
Other comprehensive income (loss) before reclassifications | -15.2 | -213.1 | -74.2 | -302.5 | |||||||||||
Amounts reclassified from AOCL | -9.1 | - | 84.7 | 75.6 | |||||||||||
Net current period other comprehensive income (loss) | $ | -24.3 | $ | -213.1 | $ | 10.5 | $ | -226.9 | |||||||
Amount attributable to noncontrolling interest | 0.1 | -5.9 | 0.2 | -5.6 | |||||||||||
Balance at 30 September 2014 | $ | -28.5 | $ | -268.7 | $ | -944.7 | $ | -1,241.90 | |||||||
Schedule Of Reclassification Out Of Accumulated Other Comprehensive Income [Table Text Block] | ' | ||||||||||||||
The table below summarizes the reclassifications out of accumulated other comprehensive loss and the affected line item on the consolidated income statements: | |||||||||||||||
2014 | 2013 | 2012 | |||||||||||||
(Gain) Loss on Cash Flow Hedges, net of tax | |||||||||||||||
Sales/cost of sales | $ | 0.7 | $ | 1 | $ | 1.3 | |||||||||
Other income/expense, net | -8.7 | -21.5 | 9.9 | ||||||||||||
Interest expense | -1.1 | 0.3 | 1.2 | ||||||||||||
Total (Gain) Loss on Cash Flow Hedges, net of tax | $ | -9.1 | $ | -20.2 | $ | 12.4 | |||||||||
Pension and Postretirement Benefits, net of tax(A) | $ | 84.7 | $ | 104.9 | $ | 67 | |||||||||
Currency Translation Adjustment(B) | $ | ― | $ | 0.6 | $ | 13.3 | |||||||||
(A) | The components include prior service cost amortization, actuarial loss amortization, and settlements and are reflected in net periodic benefit cost. Refer to Note 15, Retirement Benefits. | ||||||||||||||
(B) | The impact is reflected in Income from Discontinued Operations, net of tax. |
Noncontrolling_Interests_Table
Noncontrolling Interests (Tables) | 12 Months Ended | ||||||
Sep. 30, 2014 | |||||||
Noncontrolling Interests | ' | ||||||
Redeemable Noncontrolling Interest Rollforward | ' | ||||||
The following is a summary of the changes in redeemable noncontrolling interest for the year ended 30 September: | |||||||
2014 | 2013 | ||||||
Balance at beginning of year | $ | 375.8 | $ | 392.5 | |||
Net income (loss)(A) | -27.4 | 8.1 | |||||
Dividends | -4.7 | -1.1 | |||||
Currency translation adjustment | -56.5 | -23.7 | |||||
Balance at 30 September | $ | 287.2 | $ | 375.8 | |||
(A) The 2014 net loss includes $32.5 for the goodwill and intangible asset impairment charge. Refer to Note 9, Goodwill, | |||||||
and Note 10, Intangible Assets, to the consolidated financial statements for additional details. |
Earnings_per_Share_Tables
Earnings per Share (Tables) | 12 Months Ended | ||||||||||
Sep. 30, 2014 | |||||||||||
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 | 2014 | 2013 | 2012 | ||||||||
Numerator | |||||||||||
Income from continuing operations | $ | 987.1 | $ | 1,004.20 | $ | 999.2 | |||||
Income (Loss) from discontinued operations | 4.6 | -10 | 168.1 | ||||||||
Net Income Attributable to Air Products | $ | 991.7 | $ | 994.2 | $ | 1,167.30 | |||||
Denominator (in millions) | |||||||||||
Weighted average common shares—Basic | 212.7 | 209.7 | 211.2 | ||||||||
Effect of dilutive securities | |||||||||||
Employee stock option and other award plans | 2.5 | 2.6 | 3.5 | ||||||||
Weighted average common shares—Diluted | 215.2 | 212.3 | 214.7 | ||||||||
Basic EPS Attributable to Air Products | |||||||||||
Income from continuing operations | $ | 4.64 | $ | 4.79 | $ | 4.73 | |||||
Income (Loss) from discontinued operations | 0.02 | -0.05 | 0.8 | ||||||||
Net Income Attributable to Air Products | $ | 4.66 | $ | 4.74 | $ | 5.53 | |||||
Diluted EPS Attributable to Air Products | |||||||||||
Income from continuing operations | $ | 4.59 | $ | 4.73 | $ | 4.66 | |||||
Income (Loss) from discontinued operations | 0.02 | -0.05 | 0.78 | ||||||||
Net Income Attributable to Air Products | $ | 4.61 | $ | 4.68 | $ | 5.44 |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||
Sep. 30, 2014 | |||||||||||
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: | |||||||||||
2014 | 2013 | 2012 | |||||||||
Income from Continuing Operations before Taxes | |||||||||||
United States | $ | 555.9 | $ | 428.5 | $ | 518.6 | |||||
Foreign | 647.2 | 754.1 | 640.1 | ||||||||
Income from equity affiliates | 151.4 | 167.8 | 153.8 | ||||||||
Total | $ | 1,354.50 | $ | 1,350.40 | $ | 1,312.50 | |||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | ||||||||||
The following table shows the components of the provision for income taxes: | |||||||||||
2014 | 2013 | 2012 | |||||||||
Current Tax Provision | |||||||||||
Federal | $ | 17.2 | $ | 97.6 | $ | 43.1 | |||||
State | 12.8 | 6.5 | 9.6 | ||||||||
Foreign | 210.5 | 191 | 173.9 | ||||||||
240.5 | 295.1 | 226.6 | |||||||||
Deferred Tax Provision | |||||||||||
Federal | 98.2 | 27.7 | 76.5 | ||||||||
State | -2.7 | -7.8 | 4 | ||||||||
Foreign | 30 | -7.1 | -19.8 | ||||||||
125.5 | 12.8 | 60.7 | |||||||||
Income Tax Provision | $ | 366 | $ | 307.9 | $ | 287.3 | |||||
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) | 2014 | 2013 | 2012 | ||||||||
U.S. federal statutory tax rate | 35 | % | 35 | % | 35 | % | |||||
State taxes, net of federal benefit | 0.5 | 0.5 | 0.7 | ||||||||
Income from equity affiliates | -3.9 | -4.3 | -4 | ||||||||
Foreign taxes and credits | -10 | -6.9 | -8.6 | ||||||||
Domestic production activities | -0.7 | -0.6 | -0.9 | ||||||||
Tax audit settlements and adjustments | ― | ― | -1.1 | ||||||||
Non-deductible goodwill impairment charge | 8 | ― | ― | ||||||||
Non-U.S. subsidiary tax election | -3.8 | ― | ― | ||||||||
Other(A) | 1.9 | -0.9 | 0.8 | ||||||||
Effective Tax Rate | 27 | % | 22.8 | % | 21.9 | % | |||||
(A) Other includes the impact of Chilean tax rate changes of 1.5% in 2014 and 1.1% in 2012. | |||||||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | ||||||||||
The significant components of deferred tax assets and liabilities are as follows: | |||||||||||
30-Sep | 2014 | 2013 | |||||||||
Gross Deferred Tax Assets | |||||||||||
Retirement benefits and compensation accruals | $ | 348.9 | $ | 347.2 | |||||||
Tax loss carryforwards | 125 | 53.3 | |||||||||
Tax credits and other tax carryforwards | 78.1 | 66.6 | |||||||||
Reserves and accruals | 80.1 | 140.3 | |||||||||
Currency losses | ― | 34.8 | |||||||||
Other | 46.1 | 40.1 | |||||||||
Valuation allowance | -103.8 | -44.7 | |||||||||
Deferred Tax Assets | 574.4 | 637.6 | |||||||||
Gross Deferred Tax Liabilities | |||||||||||
Plant and equipment | 1,089.50 | 1,066.40 | |||||||||
Currency gains | 18.2 | - | |||||||||
Unremitted earnings of foreign entities | 100 | 80.6 | |||||||||
Intangible assets | 150 | 135.5 | |||||||||
Other | 22.8 | 17.8 | |||||||||
Deferred Tax Liabilities | 1,380.50 | 1,300.30 | |||||||||
Net Deferred Income Tax Liability | $ | 806.1 | $ | 662.7 | |||||||
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: | |||||||||||
2014 | 2013 | ||||||||||
Deferred Tax Assets | |||||||||||
Other receivables and current assets | $ | 136 | $ | 115.3 | |||||||
Other noncurrent assets | 56.6 | 53.1 | |||||||||
Total Deferred Tax Assets | 192.6 | 168.4 | |||||||||
Deferred Tax Liabilities | |||||||||||
Payables and accrued liabilities | 3.2 | 3.9 | |||||||||
Deferred income taxes | 995.5 | 827.2 | |||||||||
Total Deferred Tax Liabilities | 998.7 | 831.1 | |||||||||
Net Deferred Income Tax Liability | $ | 806.1 | $ | 662.7 | |||||||
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 | 2014 | 2013 | 2012 | ||||||||
Balance at beginning of year | $ | 124.3 | $ | 110.8 | $ | 126.4 | |||||
Additions for tax positions of the current year | 8.1 | 12.7 | 44.5 | ||||||||
Additions for tax positions of prior years | 4.9 | 9 | 2.3 | ||||||||
Reductions for tax positions of prior years | -14.6 | -0.5 | -46.9 | ||||||||
Settlements | ― | -1.4 | -11 | ||||||||
Statute of limitations expiration | -14 | -8 | -3.7 | ||||||||
Foreign currency translation | ― | 1.7 | -0.8 | ||||||||
Balance at End of Year | $ | 108.7 | $ | 124.3 | $ | 110.8 | |||||
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 | 2011–2014 | ||||||||||
Canada | 2012–2014 | ||||||||||
Europe | |||||||||||
France | 2009–2014 | ||||||||||
Germany | 2009–2014 | ||||||||||
Netherlands | 2009–2014 | ||||||||||
Poland | 2009–2014 | ||||||||||
Spain | 2010–2014 | ||||||||||
United Kingdom | 2010–2014 | ||||||||||
Asia | |||||||||||
China | 2009–2014 | ||||||||||
Singapore | 2009–2014 | ||||||||||
South Korea | 2009–2014 | ||||||||||
Taiwan | 2009–2014 | ||||||||||
Latin America | |||||||||||
Brazil | 2009–2014 | ||||||||||
Chile | 2011–2014 |
Supplemental_Information_Table
Supplemental Information (Tables) | 12 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Supplemental Information [Abstract] | ' | ||||||||
Schedule Of Other Receivables And Other Current Assets [Table Text Block] | ' | ||||||||
Other Receivables and Current Assets | |||||||||
30-Sep | 2014 | 2013 | |||||||
Deferred tax assets | $ | 136 | $ | 115.3 | |||||
Derivative instruments | 106.6 | 61.8 | |||||||
Other receivables | 200 | 174.1 | |||||||
Current capital lease receivables | 67.8 | 67.2 | |||||||
Other | 12.6 | 14 | |||||||
$ | 523 | $ | 432.4 | ||||||
Schedule of Other Assets, Noncurrent [Table Text Block] | ' | ||||||||
Other Noncurrent Assets | |||||||||
30-Sep | 2014 | 2013 | |||||||
Derivative instruments | $ | 65.1 | $ | 64.1 | |||||
Other long-term receivables | 35.1 | 38.2 | |||||||
Deferred financing cost, net | 25.5 | 27 | |||||||
Prepaid tax | 31.3 | 34.1 | |||||||
Deferred tax assets | 56.6 | 53.1 | |||||||
Pension benefits | 22.9 | 20.5 | |||||||
Deposits | 51 | 8.7 | |||||||
Other | 138.8 | 147.8 | |||||||
$ | 426.3 | $ | 393.5 | ||||||
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | ' | ||||||||
Payables and Accrued Liabilities | |||||||||
30-Sep | 2014 | 2013 | |||||||
Trade creditors | $ | 740.6 | $ | 1,025.50 | |||||
Customer advances | 172.1 | 162.7 | |||||||
Accrued payroll and employee benefits | 155 | 133.5 | |||||||
Pension and postretirement benefits | 48.4 | 25.6 | |||||||
Dividends payable | 164.1 | 150 | |||||||
Outstanding payments in excess of certain cash balances | 28 | 10.5 | |||||||
Accrued interest expense | 46.9 | 54.1 | |||||||
Derivative instruments | 82.5 | 27.5 | |||||||
Contingent proceeds related to Homecare retenders | - | 148.1 | |||||||
Severance and other costs associated with business restructuring and cost reduction actions | 20.6 | 65.2 | |||||||
Other | 132.8 | 142.2 | |||||||
$ | 1,591.00 | $ | 1,944.90 | ||||||
Schedule Of Other Liabilities Noncurrent [Table Text Block] | ' | ||||||||
Other Noncurrent Liabilities | |||||||||
30-Sep | 2014 | 2013 | |||||||
Pension benefits | $ | 609.2 | $ | 599 | |||||
Postretirement benefits | 82.8 | 89 | |||||||
Other employee benefits | 107.6 | 114.3 | |||||||
Contingencies related to uncertain tax positions | 111.6 | 94.2 | |||||||
Advance payments | 57.6 | 31 | |||||||
Environmental liabilities | 78.4 | 79.6 | |||||||
Derivative instruments | 3.4 | 13.8 | |||||||
Asset retirement obligations | 94 | 86 | |||||||
Other | 42.9 | 57.4 | |||||||
$ | 1,187.50 | $ | 1,164.30 | ||||||
Schedule Of Other Income Expense Net [Table Text Block] | ' | ||||||||
Other Income (Expense), Net | |||||||||
30-Sep | 2014 | 2013 | 2012 | ||||||
Technology and royalty income | $ | 26.8 | $ | 23.4 | $ | 22.9 | |||
Interest income | 9.4 | 6.4 | 5.4 | ||||||
Foreign exchange | -7.7 | -3.2 | 1.1 | ||||||
Sale of assets and investments | 9.7 | 20 | 8.4 | ||||||
Government grants | 1.1 | 6.8 | 15.2 | ||||||
Other | 13.5 | 16.8 | -5.9 | ||||||
$ | 52.8 | $ | 70.2 | $ | 47.1 |
Summary_by_Quarter_Unaudited_T
Summary by Quarter (Unaudited) (Tables) | 12 Months Ended | |||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||
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 2014 and 2013: | ||||||||||||||||||
2014 | First | Second | Third | Fourth | Total | |||||||||||||
Sales | $ | 2,545.50 | $ | 2,581.90 | $ | 2,634.60 | $ | 2,677.00 | $ | 10,439.00 | ||||||||
Gross profit | 679.6 | 664.3 | 715.9 | 744.6 | 2,804.40 | |||||||||||||
Business restructuring and cost reduction actions(A) | - | - | - | 12.7 | 12.7 | |||||||||||||
Pension settlement loss(B) | - | - | - | 5.5 | 5.5 | |||||||||||||
Goodwill and intangible asset impairment charge(C) | - | - | - | 310.1 | 310.1 | |||||||||||||
Operating income | 385.6 | 384.7 | 413.8 | 144.1 | 1,328.20 | |||||||||||||
Net income | 299.1 | 291.5 | 323.5 | 79 | 993.1 | |||||||||||||
Net Income attributable to Air Products | ||||||||||||||||||
Income from continuing operations | 287.1 | 283.5 | 314 | 102.5 | 987.1 | |||||||||||||
Income from discontinued operations | 3.1 | - | - | 1.5 | 4.6 | |||||||||||||
Net Income attributable to Air Products | 290.2 | 283.5 | 314 | 104 | 991.7 | |||||||||||||
Basic EPS attributable to Air Products | ||||||||||||||||||
Income from continuing operations | 1.36 | 1.33 | 1.47 | 0.48 | 4.64 | |||||||||||||
Income from discontinued operations | 0.01 | - | - | 0.01 | 0.02 | |||||||||||||
Net income per common share | 1.37 | 1.33 | 1.47 | 0.49 | 4.66 | |||||||||||||
Diluted EPS attributable to Air Products | ||||||||||||||||||
Income from continuing operations | 1.34 | 1.32 | 1.46 | 0.47 | 4.59 | |||||||||||||
Income from discontinued operations | 0.01 | - | - | 0.01 | 0.02 | |||||||||||||
Net income per common share | 1.35 | 1.32 | 1.46 | 0.48 | 4.61 | |||||||||||||
Dividends declared per common share | 0.71 | 0.77 | 0.77 | 0.77 | 3.02 | |||||||||||||
Market price per common share: | ||||||||||||||||||
High | 113.99 | 124.4 | 131.48 | 137.45 | ||||||||||||||
Low | 102.23 | 102.73 | 114.28 | 126.82 | ||||||||||||||
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 actions(A) | - | - | - | 231.6 | 231.6 | |||||||||||||
Pension settlement loss(B) | - | - | 4.5 | 7.9 | 12.4 | |||||||||||||
Advisory costs(D) | - | - | - | 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 | ||||||||||||||
(A) For additional information, see Note 4, Business Restructuring and Cost Reduction Actions. | ||||||||||||||||||
(B) For additional information, see Note 15, Retirement Benefits. | ||||||||||||||||||
(C) For additional information, see Note 9, Goodwill and Note 10, Intangible Assets. | ||||||||||||||||||
(D) For additional information, see Note 23, Supplemental Information. |
Business_Segment_and_Geographi1
Business Segment and Geographic Information (Tables) | 12 Months Ended | |||||||||
Sep. 30, 2014 | ||||||||||
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract] | ' | |||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | |||||||||
Business Segment | ||||||||||
Sales to External Customers | 2014 | 2013 | 2012 | |||||||
Merchant Gases | $ | 4,250.70 | $ | 4,098.60 | $ | 3,662.40 | ||||
Tonnage Gases | 3,288.90 | 3,387.30 | 3,206.70 | |||||||
Electronics and Performance Materials | 2,449.00 | 2,243.40 | 2,322.50 | |||||||
Equipment and Energy | 450.4 | 451.1 | 420.1 | |||||||
Segment and Consolidated Totals | $ | 10,439.00 | $ | 10,180.40 | $ | 9,611.70 | ||||
Operating Income | 2014 | 2013 | 2012 | |||||||
Merchant Gases | $ | 671.6 | $ | 680.5 | $ | 644 | ||||
Tonnage Gases | 484.9 | 515.9 | 512 | |||||||
Electronics and Performance Materials (A) | 425.3 | 321.3 | 425.6 | |||||||
Equipment and Energy | 88.2 | 65.5 | 44.6 | |||||||
Segment total | $ | 1,670.00 | $ | 1,583.20 | $ | 1,626.20 | ||||
Business restructuring and cost reduction actions (B) | -12.7 | -231.6 | -327.4 | |||||||
Pension settlement loss | -5.5 | -12.4 | - | |||||||
Goodwill and intangible asset impairment charge(C) | -310.1 | - | - | |||||||
Customer bankruptcy | - | - | -9.8 | |||||||
Advisory costs | - | -10.1 | - | |||||||
Other | -13.5 | -4.7 | -6.6 | |||||||
Consolidated Total | $ | 1,328.20 | $ | 1,324.40 | $ | 1,282.40 | ||||
(A) The gain on remeasuring our previously held equity interest in DA NanoMaterials is included in 2012. 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 Actions. | ||||||||||
(C) For additional information, see Note 9, Goodwill, and Note 10, Intangible Assets. | ||||||||||
Depreciation and Amortization | 2014 | 2013 | 2012 | |||||||
Merchant Gases | $ | 461.1 | $ | 409.5 | $ | 363.2 | ||||
Tonnage Gases | 310.8 | 314.8 | 320.4 | |||||||
Electronics and Performance Materials | 171.8 | 173.4 | 144.1 | |||||||
Equipment and Energy | 12.4 | 8.3 | 12.2 | |||||||
Segment total | $ | 956.1 | $ | 906 | $ | 839.9 | ||||
Other | 0.8 | 1 | 0.9 | |||||||
Consolidated Total | $ | 956.9 | $ | 907 | $ | 840.8 | ||||
Equity Affiliates’ Income | 2014 | 2013 | 2012 | |||||||
Merchant Gases | $ | 140.1 | $ | 145 | $ | 137.1 | ||||
Other segments | 11.3 | 22.8 | 16.7 | |||||||
Segment and Consolidated Totals | $ | 151.4 | $ | 167.8 | $ | 153.8 | ||||
Total Assets | 2014 | 2013 | 2012 | |||||||
Merchant Gases | $ | 7,350.40 | $ | 7,742.20 | $ | 7,411.90 | ||||
Tonnage Gases | 5,620.50 | 5,528.20 | 5,192.20 | |||||||
Electronics and Performance Materials | 2,832.50 | 2,891.50 | 2,969.60 | |||||||
Equipment and Energy | 1,039.00 | 695.1 | 399.9 | |||||||
Segment total | $ | 16,842.40 | $ | 16,857.00 | $ | 15,973.60 | ||||
Other | 936.7 | 990.6 | 925.4 | |||||||
Discontinued Operations | - | 2.5 | 42.8 | |||||||
Consolidated Total | $ | 17,779.10 | $ | 17,850.10 | $ | 16,941.80 | ||||
Investment in Net Assets of and Advances to Equity Affiliates | 2014 | 2013 | 2012 | |||||||
Merchant Gases | $ | 1,074.10 | $ | 1,012.30 | $ | 983.4 | ||||
Other segments | 183.8 | 183.2 | 192.3 | |||||||
Segment and Consolidated Totals | $ | 1,257.90 | $ | 1,195.50 | $ | 1,175.70 | ||||
Identifiable Assets | 2014 | 2013 | 2012 | |||||||
Merchant Gases | $ | 6,276.30 | $ | 6,729.90 | $ | 6,428.50 | ||||
Tonnage Gases | 5,487.70 | 5,397.00 | 5,059.80 | |||||||
Electronics and Performance Materials | 2,798.00 | 2,859.40 | 2,930.30 | |||||||
Equipment and Energy | 1,022.50 | 675.2 | 379.3 | |||||||
Segment total | $ | 15,584.50 | $ | 15,661.50 | $ | 14,797.90 | ||||
Other | 936.7 | 990.6 | 925.4 | |||||||
Discontinued Operations | - | 2.5 | 42.8 | |||||||
Consolidated Total | $ | 16,521.20 | $ | 16,654.60 | $ | 15,766.10 | ||||
Expenditures for Long-Lived Assets (A) | 2014 | 2013 | 2012 | |||||||
Merchant Gases | $ | 587.9 | $ | 558.7 | $ | 523.6 | ||||
Tonnage Gases | 556.6 | 448 | 630.7 | |||||||
Electronics and Performance Materials | 139.9 | 226.8 | 280.8 | |||||||
Equipment and Energy | 399.8 | 290.7 | 85.9 | |||||||
Consolidated Total | $ | 1,684.20 | $ | 1,524.20 | $ | 1,521.00 | ||||
Segments, Geographical Areas [Abstract] | ' | |||||||||
Schedule Of Revenues From External Customers And Long Lived Assets By Geographical Areas [TableTextBlock] | ' | |||||||||
Sales to External Customers | 2014 | 2013 | 2012 | |||||||
United States | $ | 4,507.60 | $ | 4,258.40 | $ | 4,114.50 | ||||
Canada | 311.4 | 275.5 | 267.6 | |||||||
Europe | 2,628.00 | 2,602.10 | 2,588.50 | |||||||
Asia, excluding China | 1,389.40 | 1,320.10 | 1,349.90 | |||||||
China | 981 | 1,008.30 | 954.1 | |||||||
Latin America | 621.6 | 716 | 337.1 | |||||||
$ | 10,439.00 | $ | 10,180.40 | $ | 9,611.70 | |||||
Long-Lived Assets (A) | 2014 | 2013 | 2012 | |||||||
United States | $ | 3,756.00 | $ | 3,632.10 | $ | 3,534.40 | ||||
Canada | 518 | 522.3 | 571.3 | |||||||
Europe | 2,245.40 | 2,068.80 | 1,760.10 | |||||||
Asia, excluding China | 989.9 | 962.3 | 948.1 | |||||||
China | 1,582.70 | 1,281.70 | 918.5 | |||||||
Latin America | 440.1 | 506.8 | 508.2 | |||||||
$ | 9,532.10 | $ | 8,974.00 | $ | 8,240.60 | |||||
(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, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ' | ' |
Environmental Remediation Expense | $35.10 | $37.10 | $44.70 |
Allowance for Doubtful Accounts | 60.1 | 101.7 | ' |
Provision for Doubtful Accounts | 16.4 | 27.6 | 36.8 |
Capitalized interest | 33 | 25.8 | 30.2 |
Asset retirement obligations | 94 | 89.8 | 76.7 |
Period For Reallocation Of Purchase Price | '1 year | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Residual Value | $0 | ' | ' |
Customer Relationships [Member] | Minimum [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '5 years | ' | ' |
Customer Relationships [Member] | Maximum [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '25 years | ' | ' |
Patented Technology [Member] | Minimum [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '5 years | ' | ' |
Patented Technology [Member] | Maximum [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '20 years | ' | ' |
Computer Software [Member] | Minimum [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '3 years | ' | ' |
Computer Software [Member] | Maximum [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '10 years | ' | ' |
Land Use Rights [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '50 years | ' | ' |
Discontinued_Operations_Narrat
Discontinued Operations (Narrative) (Details) | 3 Months Ended | ||||||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Jun. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2012 |
European Homecare Business [Member] | European Homecare Business [Member] | European Homecare Business [Member] | U K and Ireland Homecare Business [Member] | U K and Ireland Homecare Business [Member] | U K and Ireland Homecare Business [Member] | U K and Ireland Homecare Business [Member] | |
USD ($) | USD ($) | EUR (€) | USD ($) | GBP (£) | USD ($) | USD ($) | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Proceeds from sale of business | ' | $777 | € 590 | $9.80 | £ 6.1 | ' | ' |
Contingent proceeds related to retender arrangements | ' | 144 | 110 | ' | ' | ' | ' |
Gain on sale of business, before tax | ' | 207.4 | ' | ' | ' | ' | ' |
Gain on sale of business, after-tax | 1.5 | 150.3 | ' | 2.4 | ' | ' | ' |
Gain on sale of business, per share | ' | $0.70 | ' | ' | ' | ' | ' |
Impairment charge, before tax | ' | ' | ' | ' | ' | 18.7 | 33.5 |
Impairment charge, after-tax | ' | ' | ' | ' | ' | $13.60 | $29.50 |
Impairment charge, per share | ' | ' | ' | ' | ' | $0.06 | $0.14 |
Discontinued_Operations_Schedu
Discontinued Operations (Schedule of Operating Results) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
Sales | $8.50 | $52.30 | $258 |
Income before taxes | 0.7 | 3.8 | 68.1 |
Income tax provision | 0 | 0.2 | 20.8 |
Income from operations of discontinued operations | 0.7 | 3.6 | 47.3 |
Gain (loss) on sale of business and impairment/write-down, net of tax | 3.9 | -13.6 | 120.8 |
Income (loss) from Discontinued Operations, net of tax | $4.60 | ($10) | $168.10 |
Discontinued_Operations_Schedu1
Discontinued Operations (Schedule of Assets and Liabilities) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
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 | $0 |
Trade receivables, net | 0 | 2.5 | ' |
Total Current Assets | 0 | 2.5 | ' |
Payables and accrued liabilities | 0 | 2.4 | ' |
Total Current Liabilities | $0 | $2.40 | ' |
Business_Restructuring_and_Cos2
Business Restructuring and Cost Reduction Actions (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | 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, 2012 | Mar. 31, 2012 | Mar. 31, 2012 | Mar. 31, 2012 | Mar. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | |||||||||||||||
Charge 2014 [Member] | Charge 2014 [Member] | Charge 2014 [Member] | Charge 2014 [Member] | Charge 2014 [Member] | Plan 2013 [Member] | Plan 2013 [Member] | Plan 2013 [Member] | Plan 2013 [Member] | Plan 2013 [Member] | Plan 2013 [Member] | Plan 2013 [Member] | Plan 2013 [Member] | Plan 2013 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | |||||||||||||||||||||||||||
Employees | Merchant Gases [Member] | Tonnage Gases [Member] | Electronics and Performance Materials [Member] | Equipment and Energy [Member] | Merchant Gases [Member] | Tonnage Gases [Member] | Electronics and Performance Materials [Member] | Equipment and Energy [Member] | Asset Actions [Member] | Severance And Other Benefits [Member] | Contract Actions [Member] | Cost Reduction Plan [Member] | Cost Reduction Plan [Member] | Cost Reduction Plan [Member] | Cost Reduction Plan [Member] | Photovoltaic Market Actions [Member] | Polyurethane Intermediates Business Actions [Member] | Asset Actions [Member] | Asset Actions [Member] | Asset Actions [Member] | Asset Actions [Member] | Severance And Other Benefits [Member] | Severance And Other Benefits [Member] | Severance And Other Benefits [Member] | Severance And Other Benefits [Member] | Contract Actions [Member] | Contract Actions [Member] | Contract Actions [Member] | Contract Actions [Member] | Other Costs [Member] | Other Costs [Member] | Other Costs [Member] | Other Costs [Member] | ||||||||||||||||||||||||||||||
Merchant Gases [Member] | Tonnage Gases [Member] | Electronics and Performance Materials [Member] | Cost Reduction Plan [Member] | Photovoltaic Market Actions [Member] | Polyurethane Intermediates Business Actions [Member] | Cost Reduction Plan [Member] | Photovoltaic Market Actions [Member] | Polyurethane Intermediates Business Actions [Member] | Cost Reduction Plan [Member] | Photovoltaic Market Actions [Member] | Polyurethane Intermediates Business Actions [Member] | Cost Reduction Plan [Member] | Photovoltaic Market Actions [Member] | Polyurethane Intermediates Business Actions [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring and Related Cost [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||
Business restructuring and cost reduction actions | $12.70 | [1] | $0 | [1] | $0 | [1] | $0 | [1] | $231.60 | [1] | $0 | [1] | $0 | [1] | $0 | [1] | $12.70 | [1],[2] | $231.60 | [1],[2] | $327.40 | [1],[2] | $12.70 | $4.40 | $4.10 | $2.40 | $1.80 | $231.60 | $231.60 | $61 | $28.60 | $141 | $1 | $100.40 | $71.90 | $59.30 | $327.40 | $86.80 | $77.30 | $3.80 | $5.70 | $186 | [3] | $54.60 | [4] | $67.30 | $6 | $34.70 | $26.60 | [4] | $83.50 | $80.80 | $0 | $2.70 | $100 | $0 | $93.50 | $6.50 | $76.60 | $0 | $57.80 | [3] | $18.80 |
Business restructuring and cost reduction actions, after-tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.2 | ' | ' | ' | ' | 157.9 | ' | ' | ' | ' | ' | ' | ' | ' | 222.4 | 60.6 | ' | ' | ' | 127 | 34.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||
Business restructuring and cost reduction actions, per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.04 | ' | ' | ' | ' | $0.74 | ' | ' | ' | ' | ' | ' | ' | ' | $1.03 | $0.28 | ' | ' | ' | $0.59 | $0.16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||
Proceeds from sale of assets and rights to contract | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 32.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||
Expense for asset write offs net of proceeds | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $26.60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||
Number of positions to be eliminated | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||
[1] | For additional information, see Note 4, Business Restructuring and Cost Reduction Actions. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | Information about how this charge related to the businesses at the segment level is discussed in Note 4, Business Restructuring and Cost Reduction Actions. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | Other includes the write-down of inventory to its net realizable value, the write-down of accounts receivable, and expected losses on purchase commitments. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[4] | 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 Actions (Carrying Amount of Accrual) (Details) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | |||||||||||||||||
Charge 2014 [Member] | Plan 2013 [Member] | Plan 2013 [Member] | Plan 2013 [Member] | Plan 2013 [Member] | Plan 2013 [Member] | Plan 2013 [Member] | Plan 2013 [Member] | Plan 2013 [Member] | Plan 2013 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | Plan 2012 [Member] | |||||||||||||||||||||||||||||
Severance And Other Benefits [Member] | Severance And Other Benefits [Member] | Asset Actions [Member] | Asset Actions [Member] | Contract Actions [Member] | Contract Actions [Member] | Cost Reduction Plan [Member] | Photovoltaic Market Actions [Member] | Polyurethane Intermediates Business Actions [Member] | Severance And Other Benefits [Member] | Severance And Other Benefits [Member] | Severance And Other Benefits [Member] | Severance And Other Benefits [Member] | Severance And Other Benefits [Member] | Severance And Other Benefits [Member] | Asset Actions [Member] | Asset Actions [Member] | Asset Actions [Member] | Asset Actions [Member] | Asset Actions [Member] | Asset Actions [Member] | Contract Actions [Member] | Contract Actions [Member] | Contract Actions [Member] | Contract Actions [Member] | Contract Actions [Member] | Contract Actions [Member] | Other Costs [Member] | Other Costs [Member] | Other Costs [Member] | Other Costs [Member] | Other Costs [Member] | Other Costs [Member] | ||||||||||||||||||||||||||||||||||||
Cost Reduction Plan [Member] | Photovoltaic Market Actions [Member] | Polyurethane Intermediates Business Actions [Member] | Cost Reduction Plan [Member] | Photovoltaic Market Actions [Member] | Polyurethane Intermediates Business Actions [Member] | Cost Reduction Plan [Member] | Photovoltaic Market Actions [Member] | Polyurethane Intermediates Business Actions [Member] | Cost Reduction Plan [Member] | Photovoltaic Market Actions [Member] | Polyurethane Intermediates Business Actions [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||
Business restructuring and cost reduction actions | $12.70 | [1] | $0 | [1] | $0 | [1] | $0 | [1] | $231.60 | [1] | $0 | [1] | $0 | [1] | $0 | [1] | $12.70 | [1],[2] | $231.60 | [1],[2] | $327.40 | [1],[2] | $12.70 | $231.60 | ' | $231.60 | ' | $71.90 | ' | $100.40 | ' | $59.30 | ' | ' | $327.40 | $86.80 | $186 | [3] | $54.60 | [4] | ' | ' | $83.50 | $80.80 | $0 | $2.70 | ' | ' | $67.30 | $6 | $34.70 | $26.60 | [4] | ' | ' | $100 | $0 | $93.50 | $6.50 | ' | ' | $76.60 | $0 | $57.80 | [3] | $18.80 | ||
Amount reflected in environmental liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -9 | [5] | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | -9 | [5] | ' | ' | ' | |||||||||||||||
Amount reflected in pension liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -6.9 | ' | -6.9 | ' | 0 | ' | 0 | ' | ' | -7.5 | ' | ' | ' | ' | ' | -7.5 | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | 0 | ' | ' | ' | |||||||||||||||||
Noncash expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -100.4 | ' | 0 | ' | -100.4 | ' | 0 | ' | ' | -87 | ' | ' | ' | ' | ' | -0.4 | ' | ' | ' | ' | ' | -67.3 | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | -19.3 | ' | ' | ' | |||||||||||||||||
Cash expenditures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -52.5 | -61.5 | -51.7 | -3 | 0 | 0 | -0.8 | -58.5 | -3.9 | -185.8 | -32.9 | ' | ' | ' | -1.1 | -40.4 | -32.8 | ' | ' | ' | 0 | 0 | 0 | ' | ' | ' | -1.9 | -98.1 | 0 | ' | ' | ' | -0.9 | -47.3 | -0.1 | ' | ' | ' | |||||||||||||||||
Currency translation adjustment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -0.6 | 0.4 | -0.6 | 0.4 | 0 | 0 | 0 | 0 | ' | 0.3 | -1.6 | ' | ' | ' | ' | 0.3 | -1.6 | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | |||||||||||||||||
Accrued Balance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $63.20 | $10.10 | $63.20 | $10.10 | $62.40 | $0 | $0 | $0 | $0.80 | $0 | $3.90 | $189.40 | ' | ' | ' | $0 | $1.10 | $41.20 | ' | ' | ' | $0 | $0 | $0 | ' | ' | ' | $0 | $1.90 | $100 | ' | ' | ' | $0 | $0.90 | $48.20 | ' | ' | ' | |||||||||||||||||
[1] | For additional information, see Note 4, Business Restructuring and Cost Reduction Actions. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | Information about how this charge related to the businesses at the segment level is discussed in Note 4, Business Restructuring and Cost Reduction Actions. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | Other includes the write-down of inventory to its net realizable value, the write-down of accounts receivable, and expected losses on purchase commitments. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[4] | Charge is net of $32.7 in proceeds received in cash at closing for certain PUI assets and the rights to a supply contract. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[5] | Reflected in accrual for environmental obligations. See Note 16, Commitments and Contingencies. |
Business_Combinations_Narrativ
Business Combinations (Narrative) (Details) | 12 Months Ended | 0 Months Ended | 9 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | ||||||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Jul. 02, 2012 | Jul. 02, 2012 | Jul. 03, 2012 | Sep. 30, 2014 | Jul. 03, 2012 | Apr. 02, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2014 |
USD ($) | USD ($) | USD ($) | Indura [Member] | Indura [Member] | Indura [Member] | Indura [Member] | Indura [Member] | DANanoMaterials [Member] | DANanoMaterials [Member] | 2013 Business Combinations | 2013 Business Combinations | |
USD ($) | CLP | USD ($) | Trade names and trademarks [Member] | USD ($) | USD ($) | USD ($) | Purchase from other shareholder [Member] | |||||
USD ($) | Acquisitions | |||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of businesses acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 |
Purchase price of acquired entity | ' | ' | ' | ' | ' | ' | ' | ' | $158 | ' | $233 | ' |
Percentage of shares purchased | ' | ' | ' | 64.80% | 64.80% | ' | ' | ' | 50.00% | ' | ' | ' |
Acquisitions, less cash acquired | 0 | 224.9 | 863.4 | 690 | 345,500 | ' | ' | ' | 147 | ' | ' | ' |
Cash acquired from acquisition | ' | ' | ' | ' | ' | ' | ' | ' | 11 | ' | ' | ' |
Debt assumed related to business combination | ' | ' | ' | 227 | 113,800 | ' | ' | ' | ' | ' | ' | ' |
Agreement to purchase additional equity interest under put option | ' | ' | ' | ' | ' | 30.50% | ' | ' | ' | ' | ' | ' |
Put option exercise period beginning 1 July 2015 | ' | ' | ' | ' | ' | '2 years | ' | ' | ' | ' | ' | ' |
Put option exercise period start date | ' | ' | ' | ' | ' | ' | '1 July 2015 | ' | ' | ' | ' | ' |
Current ownership percentage | ' | ' | ' | ' | ' | ' | 67.30% | ' | ' | ' | ' | ' |
Percentage of results consolidated | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' |
Allocation to goodwill | 1,237.30 | 1,653.80 | 1,598.40 | ' | ' | 626.2 | ' | ' | ' | ' | ' | ' |
Goodwill deductible for tax purposes | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' |
Allocation to trade names and trademarks | ' | ' | ' | ' | ' | ' | ' | 92.6 | ' | ' | ' | ' |
Previous percent ownership | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' |
Fair value of previously held equity interest | ' | ' | ' | ' | ' | ' | ' | ' | 120 | ' | ' | ' |
Gain on previously held equity interest | 0 | 0 | 85.9 | ' | ' | ' | ' | ' | ' | 85.9 | ' | ' |
Gain on previously held equity interest, after tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | $54.60 | ' | ' |
Gain on previously held equity interest, per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.25 | ' | ' |
Inventories_Narratives_Details
Inventories (Narratives) (Details) | Sep. 30, 2014 | Sep. 30, 2013 |
Inventory Disclosure [Abstract] | ' | ' |
Percentage of LIFO Inventory | 38.10% | 36.40% |
Inventories_Schedule_of_Invent
Inventories (Schedule of Inventory) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | ||
Inventories [Abstract] | ' | ' |
Finished goods | $493.90 | $527.30 |
Work in process | 34.1 | 38.7 |
Raw materials, supplies and other | 283.4 | 234.9 |
Total FIFO value | 811.4 | 800.9 |
Less: Excess of FIFO cost over LIFO cost | -105.4 | -94.8 |
Inventories | $706 | $706.10 |
Summarized_Financial_Informati2
Summarized Financial Information of Equity Affiliates (Narratives) (Details) | 1 Months Ended | 12 Months Ended | ||||||||||||||||||||||
In Millions, unless otherwise specified | 29-May-12 | 29-May-12 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | 29-May-12 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 |
USD ($) | SAR | USD ($) | USD ($) | USD ($) | EquityMethodInvestmentsMember | EquityMethodInvestmentsMember | Abdullah Hashim Industrial Gas & Equipment Co. Ltd [Member] | Abdullah Hashim Industrial Gas & Equipment Co. Ltd [Member] | Air Products South Africa (Proprietary) Limited [Member] | Bangkok Cogeneration Company Limited [Member] | Bangkok Industrial Gases Co., Ltd. [Member] | Chengdu Air & Gas Products Ltd. [Member] | Daido Air Products Electronics, Inc. [Member] | Helap Sa [Member] | High-Tech Gases (Beijing) Co., Ltd. [Member] | INFRA Group [Member] | INOX Air Products Limited [Member] | Kulim Industrial Gases Sdn. Bhd. [Member] | Sapio Produzione Idrogeno Ossigeno Srl [Member] | SembCorp Air Products (HyCo) Pte. Ltd. [Member] | Tecnologia En Nitrogeno S De Rl De Cv [Member] | Tyczka Industrie-Gases GmbH [Member] | WuXi Hi-Tech Gas Co., Ltd. [Member] | |
USD ($) | USD ($) | |||||||||||||||||||||||
Schedule of Equity Method Investment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to acquire interest in affiliates | $155 | 581.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment in foreign affiliates | ' | ' | 1,254.70 | 1,191.30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total goodwill associated with affiliate companies accounted for by equity method | ' | ' | 1,237.30 | 1,653.80 | 1,598.40 | 120.2 | 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 | ' | ' | $75.40 | $108.60 | $89 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Summarized_Financial_Informati3
Summarized Financial Information of Equity Affiliates (Investment Listing) (Details) | Sep. 30, 2014 | 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, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Equity Method Investments and Joint Ventures [Abstract] | ' | ' | ' |
Current assets | $1,440 | $1,307.90 | ' |
Noncurrent assets | 2,464.60 | 2,396.10 | ' |
Current liabilities | 745.2 | 795.2 | ' |
Noncurrent liabilities | 743 | 648.6 | ' |
Net sales | 2,808.70 | 2,845.90 | 2,675.30 |
Sales less cost of sales | 984.7 | 1,003.30 | 937 |
Operating income | 542.9 | 547.3 | 529.7 |
Net income | $359.50 | $360.50 | $347.60 |
Plant_and_Equipment_net_Narrat
Plant and Equipment, net (Narratives) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Depreciation | $914.80 | $864.70 | $813.70 |
Plant_and_Equipment_net_Major_
Plant and Equipment, net (Major Classes of Plant and Equipment) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | |||||||||||||||
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] | Construction in Progress [Member] | Construction in Progress [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 and Other Machinery and Equipment [Member] | Distribution and Other Machinery and Equipment [Member] | Distribution and Other Machinery and Equipment [Member] | Distribution and Other Machinery and Equipment [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] | |||||||||||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||
Plant and Equipment, at cost | $20,223.50 | $19,529.90 | ' | ' | ' | ' | ' | ' | ' | $236.60 | $240.50 | $1,105 | $1,076.30 | $1,762.90 | $1,294 | $12,943.70 | [1] | $13,244.70 | [1] | $4,034.40 | [1] | $4,109.10 | [1] | $6,757.80 | [1] | $6,769.30 | [1] | ' | ' | $2,057.10 | [1] | $2,193.90 | [1] | ' | ' | $94.40 | [1] | $172.40 | [1] | ' | ' | $4,175.30 | [2] | $3,674.40 | [2] | ' | ' | |||
Less: accumulated depreciation | 10,691.40 | 10,555.90 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||
Plant and equipment, net | $9,532.10 | [3] | $8,974 | [3] | $8,240.60 | [3] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Average useful life | ' | ' | ' | '10 years | '25 years | '20 years | '7 years 6 months | '5 years | '15 years | ' | ' | '30 years | ' | ' | ' | ' | ' | '15 years | ' | ' | ' | '15 years | '20 years | ' | ' | '10 years | '15 years | ' | ' | '5 years | '20 years | ' | ' | '5 years | '25 years | |||||||||||||||
[1] | Depreciable lives of production facilities related to long-term customer supply contracts are matched to the contract lives. | |||||||||||||||||||||||||||||||||||||||||||||||||
[2] | 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. | |||||||||||||||||||||||||||||||||||||||||||||||||
[3] | Long-lived assets include plant and equipment, net. |
Goodwill_Schedule_of_Goodwill_
Goodwill (Schedule of Goodwill by Segment) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Goodwill [Roll Forward] | ' | ' | ' | ' | ||||
Goodwill, net, Beginning Balance | ' | $1,653.80 | $1,598.40 | ' | ||||
Goodwill, Acquisitions and Adjustments | ' | 0 | 75.3 | ' | ||||
Goodwill, Impairment Loss | -305.2 | -305.2 | 0 | ' | ||||
Goodwill, Currency Translation and Other | ' | -111.3 | -19.9 | ' | ||||
Goodwill, net, Ending Balance | 1,237.30 | 1,237.30 | 1,653.80 | ' | ||||
Goodwill Impaired Accumulated Impairment Loss Abstract | ' | ' | ' | ' | ||||
Goodwill, gross | 1,522.10 | 1,522.10 | 1,653.80 | 1,598.40 | ||||
Goodwill, Accumulated impairment losses | -284.8 | [1] | -284.8 | [1] | 0 | [1] | 0 | [1] |
Goodwill, net | 1,237.30 | 1,237.30 | 1,653.80 | ' | ||||
Goodwill, Accumulated impairment losses currency translation | ' | 20.4 | ' | ' | ||||
Merchant Gases [Member] | ' | ' | ' | ' | ||||
Goodwill [Roll Forward] | ' | ' | ' | ' | ||||
Goodwill, net, Beginning Balance | ' | 1,192 | 1,138.60 | ' | ||||
Goodwill, Acquisitions and Adjustments | ' | 0 | 73.3 | ' | ||||
Goodwill, Impairment Loss | ' | -305.2 | 0 | ' | ||||
Goodwill, Currency Translation and Other | ' | -105.6 | -19.9 | ' | ||||
Goodwill, net, Ending Balance | 781.2 | 781.2 | 1,192 | ' | ||||
Goodwill Impaired Accumulated Impairment Loss Abstract | ' | ' | ' | ' | ||||
Goodwill, net | 781.2 | 781.2 | 1,192 | ' | ||||
Tonnage Gases [Member] | ' | ' | ' | ' | ||||
Goodwill [Roll Forward] | ' | ' | ' | ' | ||||
Goodwill, net, Beginning Balance | ' | 15.2 | 14.7 | ' | ||||
Goodwill, Acquisitions and Adjustments | ' | 0 | 0 | ' | ||||
Goodwill, Impairment Loss | ' | 0 | 0 | ' | ||||
Goodwill, Currency Translation and Other | ' | -1.9 | 0.5 | ' | ||||
Goodwill, net, Ending Balance | 13.3 | 13.3 | 15.2 | ' | ||||
Goodwill Impaired Accumulated Impairment Loss Abstract | ' | ' | ' | ' | ||||
Goodwill, net | 13.3 | 13.3 | 15.2 | ' | ||||
Electronics and Performance Materials [Member] | ' | ' | ' | ' | ||||
Goodwill [Roll Forward] | ' | ' | ' | ' | ||||
Goodwill, net, Beginning Balance | ' | 446.6 | 445.1 | ' | ||||
Goodwill, Acquisitions and Adjustments | ' | 0 | 2 | ' | ||||
Goodwill, Impairment Loss | ' | 0 | 0 | ' | ||||
Goodwill, Currency Translation and Other | ' | -3.8 | -0.5 | ' | ||||
Goodwill, net, Ending Balance | 442.8 | 442.8 | 446.6 | ' | ||||
Goodwill Impaired Accumulated Impairment Loss Abstract | ' | ' | ' | ' | ||||
Goodwill, net | $442.80 | $442.80 | $446.60 | ' | ||||
[1] | Amount is attributable to the Merchant Gases segment and includes currency translation of $20.4. |
Goodwill_Narrative_Details
Goodwill (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' | ' | ' | ||||
Goodwill impairment charge | $305.20 | $305.20 | $0 | ' | ||||
Goodwill accumulated impairment losses | $284.80 | [1] | $284.80 | [1] | $0 | [1] | $0 | [1] |
[1] | Amount is attributable to the Merchant Gases segment and includes currency translation of $20.4. |
Intangible_Assets_Narratives_D
Intangible Assets (Narratives) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' | ' | ' |
Amortization of Intangible Assets | ' | $42.10 | $42.30 | $27.10 |
Acquired Indefinite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' |
Intangible asset impairment charge | $4.90 | ' | ' | ' |
Intangible_Assets_Acquired_Int
Intangible Assets (Acquired Intangible Assets) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | ||
Intangible Assets (Excluding Goodwill) [Abstract] | ' | ' |
Intangible assets, gross | $824.20 | $902.60 |
Intangible assets, accumulated amortization and impairment | -208.4 | -185.3 |
Intangible assets, net | 615.8 | 717.3 |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Finite-lived intangible assets, gross | 744.9 | 812 |
Accumulated amortization | -203.7 | -185.3 |
Finite-lived intangible assets, net | 541.2 | 626.7 |
Trade names and trademarks [Member] | ' | ' |
Acquired Indefinite-Lived Intangible Assets [Line Items] | ' | ' |
Indefinite-lived intangible assets, gross | 79.3 | 90.6 |
Accumulated impairment | -4.7 | 0 |
Indefinite-lived intangible assets, net | 74.6 | 90.6 |
Customer Relationships [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Finite-lived intangible assets, gross | 577.8 | 629.2 |
Accumulated amortization | -119 | -97.3 |
Finite-lived intangible assets, net | 458.8 | 531.9 |
Patented Technology [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Finite-lived intangible assets, gross | 82.4 | 91.3 |
Accumulated amortization | -52.2 | -52.1 |
Finite-lived intangible assets, net | 30.2 | 39.2 |
Other Intangible Assets [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Finite-lived intangible assets, gross | 84.7 | 91.5 |
Accumulated amortization | -32.5 | -35.9 |
Finite-lived intangible assets, net | $52.20 | $55.60 |
Intangible_Assets_Projected_An
Intangible Assets (Projected Annual Amortization Expense for Intangible Assets) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | ||
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | ' | ' |
2015 | $38.80 | ' |
2016 | 36.2 | ' |
2017 | 35.3 | ' |
2018 | 33.6 | ' |
2019 | 32.1 | ' |
Thereafter | 365.2 | ' |
Total future amortization expense | $541.20 | $626.70 |
Leases_Narratives_Details
Leases (Narratives) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Leases [Abstract] | ' | ' | ' |
Capital leases, plant and equipment | $17 | $19.80 | ' |
Capital leases, accumulated depreciation | 7.2 | 8.5 | ' |
Operating leases, rent expense | 100.7 | 98.6 | 91.1 |
Lease Receivable (Line Items) | ' | ' | ' |
Lessor, lease payments collected | 134.4 | 120 | 103 |
Receivable Balance Reduction [Member] | ' | ' | ' |
Lease Receivable (Line Items) | ' | ' | ' |
Lessor, lease payments collected | $72.70 | $61.10 | $51.70 |
Leases_Minimum_Payments_Due_De
Leases (Minimum Payments Due) (Details) (USD $) | Sep. 30, 2014 |
In Millions, unless otherwise specified | |
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | ' |
2015 | $0.60 |
2016 | 0.5 |
2017 | 0.5 |
2018 | 0.3 |
2019 | 0.1 |
Thereafter | 1.7 |
Total | 3.7 |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | ' |
2015 | 70.3 |
2016 | 47.9 |
2017 | 34.2 |
2018 | 27.2 |
2019 | 19.1 |
Thereafter | 116.3 |
Total | $315 |
Leases_Lease_Receivables_Detai
Leases (Lease Receivables) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | ||
Leases [Abstract] | ' | ' |
Gross minimum lease payments receivable | $2,423.30 | $2,253.20 |
Unearned interest income | -940.6 | -709.1 |
Lease Receivables, net | $1,482.70 | $1,544.10 |
Leases_Minimum_Lease_Payments_
Leases (Minimum Lease Payments Receivable) (Details) (USD $) | Sep. 30, 2014 |
In Millions, unless otherwise specified | |
Capital Leases, Future Minimum Payments Receivable, Fiscal Year Maturity [Abstract] | ' |
2015 | $145.60 |
2016 | 187.4 |
2017 | 186 |
2018 | 184.7 |
2019 | 179.1 |
Thereafter | 1,540.50 |
Total | $2,423.30 |
Financial_Instruments_Narrativ
Financial Instruments (Narrative) (Details) | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 |
In Millions, unless otherwise specified | USD ($) | USD ($) | Euro Denominated Member [Member] | Euro Denominated Member [Member] | Foreign Currency Debt [Member] | Foreign Currency Debt [Member] | Foreign Currency Debt [Member] | Foreign Currency Debt [Member] | Forward Exchange Contracts [Member] | Interest rate management contract [Member] |
USD ($) | EUR (€) | Euro Denominated Member [Member] | Euro Denominated Member [Member] | RMB Denominated Member [Member] | RMB Denominated Member [Member] | |||||
USD ($) | EUR (€) | USD ($) | CNY | |||||||
Derivative [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notional Amount included in designated foreign currency denominated debt | ' | ' | $1,228.40 | € 908.30 | $1,110.60 | € 879.30 | $146.80 | 900.9 | ' | ' |
Maximum Remaining Maturity of Foreign Currency Derivatives | ' | ' | ' | ' | ' | ' | ' | ' | '3 years 4 months | ' |
Maximum length of time of hedged exposures, years | ' | ' | ' | ' | ' | ' | ' | ' | ' | '0 years 5 months |
Net liability position of derivatives with credit risk-related contingent features | 2.1 | 10 | ' | ' | ' | ' | ' | ' | ' | ' |
Collateral amount that counterparties would be required to post | $107.80 | $80.60 | ' | ' | ' | ' | ' | ' | ' | ' |
Financial_Instruments_Schedule
Financial Instruments (Schedule of Outstanding Currency Price Risk Management Instruments) (Details) (Forward Exchange Contracts [Member], USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Derivative [Line Items] | ' | ' |
US$ Notional | $4,032.90 | $4,637.10 |
Years Average Maturity | '12 months | '12 months |
Cash Flow Hedges [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
US$ Notional | 2,965.50 | 2,653.40 |
Years Average Maturity | '8 months | '7 months |
Net Investment Hedges [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
US$ Notional | 685.9 | 1,231.80 |
Years Average Maturity | '2 years 11 months | '2 years 5 months |
Hedges Not Designated [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
US$ Notional | $381.50 | $751.90 |
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 $) | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Interest Rate Swaps Contracts [Member] | Fair Value Hedges [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
US$ Notional | $600 | $300 |
Pay % | 'LIBOR | 'LIBOR |
Average Receive % | 2.77% | 3.61% |
Years Average Maturity | '4 years 4 months | '5 years 11 months |
Interest Rate Swaps Contracts [Member] | Cash Flow Hedges [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
US$ Notional | 431.7 | 52.8 |
Pay % | 2.36% | 6.84% |
Average Receive % | 0.71% | 5.64% |
Years Average Maturity | '0 years 5 months | '1 year 5 months |
Cross Currency Interest Rate Swaps [Member] | Net Investment Hedges [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
US$ Notional | 404.5 | 310.8 |
Pay % | 3.70% | 3.87% |
Average Receive % | 1.15% | 0.72% |
Years Average Maturity | '2 years 8 months | '2 years 5 months |
Cross Currency Interest Rate Swaps [Member] | Cash Flow Hedges [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
US$ Notional | 446.3 | 169.3 |
Pay % | 3.39% | 3.48% |
Average Receive % | 2.86% | 2.53% |
Years Average Maturity | '4 years 2 months | '4 years 10 months |
Cross Currency Interest Rate Swaps [Member] | Hedges Not Designated [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
US$ Notional | $15.40 | $0 |
Pay % | 3.62% | 0.00% |
Average Receive % | 0.05% | 0.00% |
Years Average Maturity | '0 years 10 months | '0 years 0 months |
Financial_Instruments_Fair_Val
Financial Instruments (Fair Value of Derivative Instruments) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | ||
Derivative [Line Items] | ' | ' |
Total Derivatives, Assets | $171.70 | $125.90 |
Total Derivatives, Liabilities | 85.9 | 41.3 |
Designated as Hedging Instrument [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total Derivatives, Assets | 165.1 | 116.3 |
Total Derivatives, Liabilities | 84 | 39.8 |
Designated as Hedging Instrument [Member] | Other Receivables [Member] | Interest rate management contract [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total Derivatives, Assets | 21.1 | 0 |
Designated as Hedging Instrument [Member] | Other Receivables [Member] | Forward Exchange Contracts [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total Derivatives, Assets | 78.9 | 52.2 |
Designated as Hedging Instrument [Member] | Other Noncurrent Assets [Member] | Interest rate management contract [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total Derivatives, Assets | 54.6 | 35.4 |
Designated as Hedging Instrument [Member] | Other Noncurrent Assets [Member] | Forward Exchange Contracts [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total Derivatives, Assets | 10.5 | 28.7 |
Designated as Hedging Instrument [Member] | Accrued Liabilities [Member] | Interest rate management contract [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total Derivatives, Liabilities | 18.8 | 3.5 |
Designated as Hedging Instrument [Member] | Accrued Liabilities [Member] | Forward Exchange Contracts [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total Derivatives, Liabilities | 61.8 | 22.5 |
Designated as Hedging Instrument [Member] | Other Noncurrent Liabilities [Member] | Interest rate management contract [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total Derivatives, Liabilities | 0.3 | 6.1 |
Designated as Hedging Instrument [Member] | Other Noncurrent Liabilities [Member] | Forward Exchange Contracts [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total Derivatives, Liabilities | 3.1 | 7.7 |
Hedges Not Designated [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total Derivatives, Assets | 6.6 | 9.6 |
Total Derivatives, Liabilities | 1.9 | 1.5 |
Hedges Not Designated [Member] | Other Receivables [Member] | Interest rate management contract [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total Derivatives, Assets | 2.6 | 0 |
Hedges Not Designated [Member] | Other Receivables [Member] | Forward Exchange Contracts [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total Derivatives, Assets | 4 | 9.6 |
Hedges Not Designated [Member] | Accrued Liabilities [Member] | Interest rate management contract [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total Derivatives, Liabilities | 0 | 0 |
Hedges Not Designated [Member] | Accrued Liabilities [Member] | Forward Exchange Contracts [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total Derivatives, Liabilities | $1.90 | $1.50 |
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, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | ||
Derivative [Line Items] | ' | ' | ' | ||
Interest expense | $125.10 | $141.80 | $123.70 | ||
Other (income) expense, net | -52.8 | -70.2 | -47.1 | ||
Reclassification Out Of Accumulated Other Comprehensive Income [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | ' | ' | ' | ||
Derivative [Line Items] | ' | ' | ' | ||
Interest expense | -1.1 | 0.3 | 1.2 | ||
Other (income) expense, net | -8.7 | -21.5 | 9.9 | ||
Cash Flow Hedges [Member] | ' | ' | ' | ||
Derivative [Line Items] | ' | ' | ' | ||
Net gain (loss) recognized in OCI (effective portion) | -15.2 | 35 | ' | ||
Net (gain) loss reclassified from OCI to sales/cost of sales (effective portion) | 0.7 | 1 | ' | ||
Net (gain) loss reclassified from OCI to other income, net (effective portion) | -7.8 | -21.5 | ' | ||
Net (gain) loss reclassified from OCI to interest expense (effective portion) | -1.1 | 0.3 | ' | ||
Net (gain) loss reclassified from OCI to other income, net (ineffective portion) | -0.9 | 0 | ' | ||
Cash Flow Hedges [Member] | Forward Exchange Contracts [Member] | ' | ' | ' | ||
Derivative [Line Items] | ' | ' | ' | ||
Net gain (loss) recognized in OCI (effective portion) | -4.5 | 24.6 | ' | ||
Net (gain) loss reclassified from OCI to sales/cost of sales (effective portion) | 0.7 | 1 | ' | ||
Net (gain) loss reclassified from OCI to other income, net (effective portion) | 1.7 | -23.9 | ' | ||
Net (gain) loss reclassified from OCI to interest expense (effective portion) | -1.4 | -0.4 | ' | ||
Net (gain) loss reclassified from OCI to other income, net (ineffective portion) | -0.9 | 0 | ' | ||
Cash Flow Hedges [Member] | Other Contracts [Member] | ' | ' | ' | ||
Derivative [Line Items] | ' | ' | ' | ||
Net gain (loss) recognized in OCI (effective portion) | -10.7 | [1] | 10.4 | [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) | -9.5 | [1] | 2.4 | [1] | ' |
Net (gain) loss reclassified from OCI to interest expense (effective portion) | 0.3 | [1] | 0.7 | [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 | -5 | [2] | -19.8 | [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 | -5 | [1],[2] | -19.8 | [1],[2] | ' |
Net Investment Hedges [Member] | ' | ' | ' | ||
Derivative [Line Items] | ' | ' | ' | ||
Net gain (loss) recognized in OCI | 85.6 | -51.2 | ' | ||
Net Investment Hedges [Member] | Forward Exchange Contracts [Member] | ' | ' | ' | ||
Derivative [Line Items] | ' | ' | ' | ||
Net gain (loss) recognized in OCI | 17.1 | -15.3 | ' | ||
Net Investment Hedges [Member] | Foreign Currency Debt [Member] | ' | ' | ' | ||
Derivative [Line Items] | ' | ' | ' | ||
Net gain (loss) recognized in OCI | 51.5 | -37.7 | ' | ||
Net Investment Hedges [Member] | Other Contracts [Member] | ' | ' | ' | ||
Derivative [Line Items] | ' | ' | ' | ||
Net gain (loss) recognized in OCI | 17 | [1] | 1.8 | [1] | ' |
Hedges Not Designated [Member] | ' | ' | ' | ||
Derivative [Line Items] | ' | ' | ' | ||
Net gain (loss) recognized in net income (loss) | -5.7 | [3] | 5.3 | [3] | ' |
Hedges Not Designated [Member] | Forward Exchange Contracts [Member] | ' | ' | ' | ||
Derivative [Line Items] | ' | ' | ' | ||
Net gain (loss) recognized in net income (loss) | -7.2 | [3] | 5.3 | [3] | ' |
Hedges Not Designated [Member] | Other Contracts [Member] | ' | ' | ' | ||
Derivative [Line Items] | ' | ' | ' | ||
Net gain (loss) recognized in net income (loss) | $1.50 | [1],[3] | $0 | [1],[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, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term debt, including current portion carrying value | $4,889.80 | $5,563.70 |
Carrying Value [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term debt, including current portion carrying value | 4,889.80 | 5,563.70 |
Fair Value [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term debt, including current portion fair value | 5,130.70 | 5,804.10 |
Interest rate management contract [Member] | Carrying Value [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Derivative assets | 78.3 | 35.4 |
Derivative liabilities | 19.1 | 9.6 |
Interest rate management contract [Member] | Fair Value [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Derivative assets | 78.3 | 35.4 |
Derivative liabilities | 19.1 | 9.6 |
Forward Exchange Contracts [Member] | Carrying Value [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Derivative assets | 93.4 | 90.5 |
Derivative liabilities | 66.8 | 31.7 |
Forward Exchange Contracts [Member] | Fair Value [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Derivative assets | 93.4 | 90.5 |
Derivative liabilities | $66.80 | $31.70 |
Fair_Value_Measurements_Schedu1
Fair Value Measurements (Schedule of Fair Value of Assets and Liabilities) (Details) (Fair Value [Member], USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Total Assets at Fair Value | $171.70 | $125.90 |
Total Liabilities at Fair Value | 85.9 | 41.3 |
Level 2 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Total Assets at Fair Value | 171.7 | 125.9 |
Total Liabilities at Fair Value | 85.9 | 41.3 |
Interest rate management contract [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Derivative assets | 78.3 | 35.4 |
Derivative liabilities | 19.1 | 9.6 |
Interest rate management contract [Member] | Level 2 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Derivative assets | 78.3 | 35.4 |
Derivative liabilities | 19.1 | 9.6 |
Forward Exchange Contracts [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Derivative assets | 93.4 | 90.5 |
Derivative liabilities | 66.8 | 31.7 |
Forward Exchange Contracts [Member] | Level 2 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Derivative assets | 93.4 | 90.5 |
Derivative liabilities | $66.80 | $31.70 |
Fair_Value_Measurements_Schedu2
Fair Value Measurements (Schedule of Non-recurring Fair Value Measurements Of Long-Lived Assets Held For Sale) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | |
Cost Reduction Plan [Member] | ' | |
Long Lived Assets Held-for-sale [Line Items] | ' | |
Long-lived assets held for sale, Fair Value | $10.80 | [1] |
Long-lived assets held for sale, Total Loss | 11.9 | [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] |
Long-lived assets held for sale, Total Loss | 18.7 | [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] |
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] |
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] |
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] |
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] |
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 | $0 | [2] |
[1] | In conjunction with the 2013 business restructuring and cost reduction plan, long-lived assets held for sale were written down to fair value using a market approach based on prices for other market transactions and our assessment of value considering our knowledge of the markets. For additional information, see Note 4, Business Restructuring and Cost Reduction Actions. | |
[2] | During 2013, an impairment charge was recorded for the remaining assets of the Homecare business to reflect their estimated net realizable value. For additional information, see Note 3, Discontinued Operations. We utilized a market approach to determine the fair value based on our current assessment of the markets for these assets. |
Debt_Narratives_Details
Debt (Narratives) (Details) | 12 Months Ended | 7 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Apr. 30, 2013 | Sep. 30, 2014 | Jun. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Mar. 20, 2014 | Mar. 20, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 |
USD ($) | USD ($) | USD ($) | Eurobond 3.875% | Eurobond 3.875% | 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] | Chinese Renminbi (RMB) Syndicated Credit Facility [Member] | Chinese Renminbi (RMB) Syndicated Credit Facility [Member] | Senior Note 3.35% | Senior Note 3.35% | Commercial Paper [Member] | |
USD ($) | EUR (€) | Credit Agreement 2013 Member [Member] | Credit Agreement 2013 Member [Member] | Credit Agreement 2013 Member [Member] | Credit Agreement 2013 Member [Member] | USD ($) | USD ($) | CNY | USD ($) | CNY | USD ($) | USD ($) | |||||
USD ($) | USD ($) | Maximum [Member] | |||||||||||||||
Debt Instruments [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short-term debt, weighted average interest rate | 1.50% | 1.80% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash paid for interest, net of amounts capitalized | $132.40 | $136.10 | $127.60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, issuance date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Jul-14 | ' | ' |
Debt instrument, maturity date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Jul-24 | ' | ' |
Senior Notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400 | 0 | ' |
Interest rate of debt, stated percentage | ' | ' | ' | 3.88% | 3.88% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.35% | ' | ' |
Amount classified as long-term debt based on ability and intent to refinance | ' | ' | ' | 378.9 | 300 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, maturity year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2024 | ' | '2014 |
Credit facility, initiation date | ' | ' | ' | ' | ' | ' | 30-Apr-13 | ' | ' | ' | ' | ' | 11-Jun-12 | 11-Jun-12 | ' | ' | ' |
Credit facility, length credit agreement in years | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility, maximum borrowing capacity | ' | ' | ' | ' | ' | ' | 2,500 | 2,595 | ' | 189.7 | ' | ' | 160.9 | 1,000 | ' | ' | ' |
Credit facility, expiration date | ' | ' | ' | ' | ' | ' | 30-Apr-18 | ' | ' | ' | ' | ' | 20-Mar-14 | 20-Mar-14 | ' | ' | ' |
Debt instrument, expiration, month year | ' | ' | ' | 'March 2015 | 'March 2015 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Covenant, ratio of total debt to total capitalization | ' | ' | ' | ' | ' | ' | ' | ' | 70.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility, amount borrowed and outstanding | ' | ' | ' | ' | ' | ' | 0 | ' | ' | 180.6 | ' | ' | ' | ' | ' | ' | ' |
Repayment outstanding balance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $40.20 | 250 | ' | ' | ' | ' | ' |
Debt_Summary_of_Outstanding_De
Debt (Summary of Outstanding Debt) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | ||
Debt Instruments [Abstract] | ' | ' |
Short-term borrowings | $1,228.70 | $709.90 |
Current portion of long-term debt | 65.3 | 507.4 |
Long-term debt | 4,824.50 | 5,056.30 |
Total Debt | $6,118.50 | $6,273.60 |
Debt_Shortterm_Borrowings_Deta
Debt (Short-term Borrowings) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | ||
Short-term Debt [Abstract] | ' | ' |
Bank obligations | $320.70 | $218.90 |
Commercial paper | 908 | 491 |
Total Short-term Borrowings | $1,228.70 | $709.90 |
Debt_Longterm_Debt_Details
Debt (Long-term Debt) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Debt Instrument [Line Items] | ' | ' |
Less: Unamortized discount | ($5.70) | ($5.70) |
Total Long-term Debt | 4,889.80 | 5,563.70 |
Less: Current portion of long-term debt | -65.3 | -507.4 |
Long-term debt | 4,824.50 | 5,056.30 |
United States 5.0% | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Interest rate of debt, stated percentage | 5.00% | ' |
Debt Instruments Maturity Year | '2018 | ' |
Capital Lease Obligations | 1 | 1.3 |
Foreign 9.2% | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Interest rate of debt, stated percentage | 9.20% | ' |
Debt Instrument, Maturity Year Range, Start | '2017 | ' |
Debt Instrument, Maturity Year Range, End | '2021 | ' |
Capital Lease Obligations | 1.5 | 0.3 |
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 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 | 400 |
Note 3.35% | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Interest rate of debt, stated percentage | 3.35% | ' |
Debt Instruments Maturity Year | '2024 | ' |
Senior Notes | 400 | 0 |
Variable-rate industrial revenue bonds 0.04% | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Weighted average interest rate | 0.04% | ' |
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 | 0 | 400 |
Other 2.5% | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Weighted average interest rate | 2.50% | ' |
Debt Instrument, Maturity Year Range, Start | '2015 | ' |
Debt Instrument, Maturity Year Range, End | '2020 | ' |
Other Long-term Debt | 25.3 | 46.8 |
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 | 0 | 405.7 |
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 | 378.9 | 405.7 |
RMB Syndicated Credit Facility 4.05% | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Interest rate of debt, stated percentage | 4.05% | ' |
Debt Instruments Maturity Year | '2014 | ' |
Debt Payable In Other Currencies | 0 | 40.9 |
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 | 378.9 | 405.7 |
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 | 378.9 | 405.7 |
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 | 143.1 | 163.8 |
Other 5.6% | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Interest rate of debt, stated percentage | 5.60% | ' |
Debt Instrument, Maturity Year Range, Start | '2015 | ' |
Debt Instrument, Maturity Year Range, End | '2022 | ' |
Debt Payable In Other Currencies | $253.10 | $358.70 |
Debt_Maturities_of_Longterm_De
Debt (Maturities of Long-term Debt) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ' | ' |
2015 | $444.20 | ' |
2016 | 410.5 | ' |
2017 | 424.8 | ' |
2018 | 448.5 | ' |
2019 | 422.5 | ' |
Thereafter | 2,739.30 | ' |
Total Long-term Debt | $4,889.80 | $5,563.70 |
Retirement_Benefits_Narrative_
Retirement Benefits (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Recognized settlement losses | ($5.50) | [1] | $0 | [1] | $0 | [1] | $0 | [1] | ($7.90) | [1] | ($4.50) | [1] | $0 | [1] | $0 | [1] | ($5.50) | [1] | ($12.40) | [1] | $0 | [1] |
Shares of Common Stock in ESOP | 3,617,114 | ' | ' | ' | ' | ' | ' | ' | 3,617,114 | ' | ' | |||||||||||
Defined Contribution Plan, Cost Recognized | ' | ' | ' | ' | ' | ' | ' | ' | 45.2 | 40.6 | 33.9 | |||||||||||
Pension Plans, Defined Benefit [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Company contributions | ' | ' | ' | ' | ' | ' | ' | ' | 78.2 | ' | ' | |||||||||||
ABO for all defined benefit pension plans | 4,360 | ' | ' | ' | 3,990.70 | ' | ' | ' | 4,360 | 3,990.70 | ' | |||||||||||
Pension arrangements not funded because of jurisdictional practice, accumulated benefit obligation | 136.7 | ' | ' | ' | ' | ' | ' | ' | 136.7 | ' | ' | |||||||||||
Pension arrangements not funded because of jurisdictional practice, projected benefit obligation | 147.7 | ' | ' | ' | ' | ' | ' | ' | 147.7 | ' | ' | |||||||||||
Pension Plans, Defined Benefit [Member] | Minimum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Total expected contributions for next fiscal year | ' | ' | ' | ' | ' | ' | ' | ' | 130 | ' | ' | |||||||||||
Pension Plans, Defined Benefit [Member] | Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Total expected contributions for next fiscal year | ' | ' | ' | ' | ' | ' | ' | ' | 150 | ' | ' | |||||||||||
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Discount rate | ' | ' | ' | ' | ' | ' | ' | ' | 2.40% | 1.90% | 3.70% | |||||||||||
Accumulated postretirement benefit obligation discount rate | 2.60% | ' | ' | ' | 2.40% | ' | ' | ' | 2.60% | 2.40% | ' | |||||||||||
Net actuarial loss | 15 | ' | ' | ' | 19.7 | ' | ' | ' | 15 | 19.7 | ' | |||||||||||
Actuarial loss estimated | ' | ' | ' | ' | ' | ' | ' | ' | ($1.10) | ' | ' | |||||||||||
[1] | For additional information, see Note 15, Retirement Benefits. |
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, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Settlement loss | $5.50 | [1] | $0 | [1] | $0 | [1] | $0 | [1] | $7.90 | [1] | $4.50 | [1] | $0 | [1] | $0 | [1] | $5.50 | [1] | $12.40 | [1] | $0 | [1] |
US [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Service cost | ' | ' | ' | ' | ' | ' | ' | ' | 42.6 | 51.8 | 45.1 | |||||||||||
Interest cost | ' | ' | ' | ' | ' | ' | ' | ' | 130.7 | 117.1 | 124.2 | |||||||||||
Expected return on plan assets | ' | ' | ' | ' | ' | ' | ' | ' | -187.8 | -185.4 | -178.2 | |||||||||||
Actuarial loss amortization | ' | ' | ' | ' | ' | ' | ' | ' | 78.3 | 116 | 78.6 | |||||||||||
Prior service cost amortization | ' | ' | ' | ' | ' | ' | ' | ' | 2.9 | 2.9 | 2.7 | |||||||||||
Settlement loss | ' | ' | ' | ' | ' | ' | ' | ' | 4.8 | 11.5 | 0 | |||||||||||
Special termination benefits | ' | ' | ' | ' | ' | ' | ' | ' | 0.2 | 1.2 | 4.6 | |||||||||||
Other | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||||||||
Net periodic benefit cost | ' | ' | ' | ' | ' | ' | ' | ' | 71.7 | 115.1 | 77 | |||||||||||
International [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Service cost | ' | ' | ' | ' | ' | ' | ' | ' | 36 | 31.5 | 24.1 | |||||||||||
Interest cost | ' | ' | ' | ' | ' | ' | ' | ' | 67.2 | 57.3 | 62.3 | |||||||||||
Expected return on plan assets | ' | ' | ' | ' | ' | ' | ' | ' | -78.1 | -71.2 | -66.7 | |||||||||||
Actuarial loss amortization | ' | ' | ' | ' | ' | ' | ' | ' | 36.1 | 27 | 17.4 | |||||||||||
Prior service cost amortization | ' | ' | ' | ' | ' | ' | ' | ' | 0.2 | 0.2 | 0.5 | |||||||||||
Settlement loss | ' | ' | ' | ' | ' | ' | ' | ' | 0.7 | 0.9 | 1.4 | |||||||||||
Special termination benefits | ' | ' | ' | ' | ' | ' | ' | ' | 0.1 | 6.2 | 2.2 | |||||||||||
Other | ' | ' | ' | ' | ' | ' | ' | ' | 2 | 2.7 | 2.2 | |||||||||||
Net periodic benefit cost | ' | ' | ' | ' | ' | ' | ' | ' | 64.2 | 54.6 | 43.4 | |||||||||||
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Service cost | ' | ' | ' | ' | ' | ' | ' | ' | 3.3 | 4.3 | 4.5 | |||||||||||
Interest cost | ' | ' | ' | ' | ' | ' | ' | ' | 2.3 | 1.9 | 3.9 | |||||||||||
Actuarial loss amortization | ' | ' | ' | ' | ' | ' | ' | ' | 1.7 | 2.3 | 2.9 | |||||||||||
Net periodic benefit cost | ' | ' | ' | ' | ' | ' | ' | ' | $7.30 | $8.50 | $11.30 | |||||||||||
[1] | For additional information, see Note 15, Retirement Benefits. |
Retirement_Benefits_Assumption
Retirement Benefits (Assumption in calculating net periodic benefit Cost) (Details) | 12 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
US [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Discount rate | 4.80% | 3.90% | 4.90% |
Expected return on plan assets | 8.30% | 8.30% | 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 | 9.20% | ' | ' |
US [Member] | Debt Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Expected return on plan assets | 5.60% | ' | ' |
US [Member] | Real Estate [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Expected return on plan assets | 7.30% | ' | ' |
International [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Discount rate | 4.30% | 4.30% | 5.50% |
Expected return on plan assets | 6.50% | 6.50% | 6.60% |
Rate of compensation increase | 3.70% | 3.40% | 3.80% |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Discount rate | 2.40% | 1.90% | 3.70% |
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, 2014 | Sep. 30, 2013 |
US [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Discount rate | 4.30% | 4.80% |
Rate of compensation increase | 3.50% | 4.00% |
International [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Discount rate | 3.60% | 4.30% |
Rate of compensation increase | 3.60% | 3.70% |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Discount rate | 2.60% | 2.40% |
Retirement_Benefits_Change_in_
Retirement Benefits (Change in PBO) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
US [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ' | ' | ' |
Obligation at beginning of year | $2,809 | $3,077.90 | ' |
Service cost | 42.6 | 51.8 | 45.1 |
Interest cost | 130.7 | 117.1 | 124.2 |
Amendments | 1 | 2.6 | ' |
Actuarial (gain) loss | 135.4 | -318.5 | ' |
Settlement (gain) loss | 5.9 | 8.9 | ' |
Special termination benefits | 0.2 | 1.2 | ' |
Participant contributions | 0 | 0 | ' |
Benefits paid | -123.1 | -131.4 | ' |
Other | 1.2 | -0.6 | ' |
Obligation at End of Year | 3,002.90 | 2,809 | 3,077.90 |
International [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ' | ' | ' |
Obligation at beginning of year | 1,585 | 1,408.60 | ' |
Service cost | 36 | 31.5 | 24.1 |
Interest cost | 67.2 | 57.3 | 62.3 |
Amendments | -0.1 | -4.4 | ' |
Actuarial (gain) loss | 130.3 | 113.5 | ' |
Settlement (gain) loss | -1.9 | -2.8 | ' |
Special termination benefits | 0.1 | 6.2 | ' |
Participant contributions | 2.4 | 2.3 | ' |
Benefits paid | -50.1 | -45.2 | ' |
Currency translation/other | -33.2 | 18 | ' |
Obligation at End of Year | 1,735.70 | 1,585 | 1,408.60 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ' | ' | ' |
Obligation at beginning of year | 99.9 | 119.9 | ' |
Service cost | 3.3 | 4.3 | 4.5 |
Interest cost | 2.3 | 1.9 | 3.9 |
Actuarial (gain) loss | -3 | -14.5 | ' |
Benefits paid | -9 | -11.7 | ' |
Obligation at End of Year | $93.50 | $99.90 | $119.90 |
Retirement_Benefits_Change_in_1
Retirement Benefits (Change in Plan Assets) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
US [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' |
Fair value at beginning of year | $2,534.20 | $2,099.80 |
Actual return on plan assets | 317.6 | 313.4 |
Company contributions | 17.5 | 252.4 |
Participant contributions | 0 | 0 |
Benefits paid | -123.1 | -131.4 |
Settlements | 0 | 0 |
Currency translation/other | 0 | 0 |
Fair Value at End of Year | 2,746.20 | 2,534.20 |
Funded Status at End of Year | -256.7 | -274.8 |
International [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' |
Fair value at beginning of year | 1,266.60 | 1,139.30 |
Actual return on plan assets | 116.3 | 117.5 |
Company contributions | 60.7 | 48.4 |
Participant contributions | 2.4 | 2.3 |
Benefits paid | -50.1 | -45.2 |
Settlements | -1.9 | -2.8 |
Currency translation/other | -25.6 | 7.1 |
Fair Value at End of Year | 1,368.40 | 1,266.60 |
Funded Status at End of Year | -367.3 | -318.4 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' |
Benefits paid | ($9) | ($11.70) |
Retirement_Benefits_Amounts_re
Retirement Benefits (Amounts recognized in balance sheet) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Noncurrent assets | $22.90 | $20.50 |
Accrued liabilities | 48.4 | 25.6 |
US [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Noncurrent assets | 22.7 | 19.4 |
Accrued liabilities | 37.7 | 14.7 |
Noncurrent liabilities | 241.7 | 279.5 |
Net Amount Recognized | -256.7 | -274.8 |
International [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Noncurrent assets | 0.2 | 1.1 |
Accrued liabilities | 0 | 0 |
Noncurrent liabilities | 367.5 | 319.5 |
Net Amount Recognized | -367.3 | -318.4 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Accrued liabilities | 10.7 | 10.9 |
Noncurrent liabilities | $82.80 | $89 |
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, 2014 | Sep. 30, 2013 |
US [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Net actuarial (gain) loss arising during the period | $11.50 | ($437.60) |
Amortization of net actuarial loss | -83.1 | -127.5 |
Prior service cost (credit) arising during the period | 0.9 | 2.6 |
Amortization of prior service cost | -2.9 | -2.9 |
Total | -73.6 | -565.4 |
International [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Net actuarial (gain) loss arising during the period | 92.9 | 67.2 |
Amortization of net actuarial loss | -36.8 | -27.9 |
Prior service cost (credit) arising during the period | -0.1 | -4.4 |
Amortization of prior service cost | -0.2 | -0.2 |
Total | 55.8 | 34.7 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Net actuarial (gain) loss arising during the period | -3 | -14.5 |
Amortization of net actuarial loss | -1.7 | -2.3 |
Total | ($4.70) | ($16.80) |
Retirement_Benefits_Changes_re1
Retirement Benefits (Changes recognized in accumulated other comprehensive income on pretax basis) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | ||
US [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Net actuarial loss | $798.20 | $869.80 |
Prior service cost | 11.7 | 13.7 |
Total | 809.9 | 883.5 |
International [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Net actuarial loss | 597.9 | 541.8 |
Prior service cost | 1.1 | 1.4 |
Net transition liability | 0.4 | 0.4 |
Total | 599.4 | 543.6 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Net actuarial loss | $15 | $19.70 |
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, 2014 |
US [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Net actuarial loss | $79.70 |
Prior service cost | 2.6 |
International [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Net actuarial loss | 43.2 |
Prior service cost | 0.2 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Net actuarial loss | $1.10 |
Retirement_Benefits_Benefit_li
Retirement Benefits (Benefit liability exceeds value of plan assets) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | ||
US [Member] | ' | ' |
Pension Plans with PBO in Excess of Plan Assets: | ' | ' |
PBO | $2,786.60 | $2,607.60 |
Fair value of Plan assets | 2,507.30 | 2,313.40 |
Pension Plans with ABO in Excess of Plan Assets: | ' | ' |
ABO | 131.4 | 139.3 |
Fair value of plan assets | 0 | 0 |
International [Member] | ' | ' |
Pension Plans with PBO in Excess of Plan Assets: | ' | ' |
PBO | 1,723.90 | 1,558.70 |
Fair value of Plan assets | 1,356.60 | 1,239.40 |
Pension Plans with ABO in Excess of Plan Assets: | ' | ' |
ABO | 1,553.90 | 1,401.30 |
Fair value of plan assets | $1,318.40 | $1,205.80 |
Retirement_Benefits_Plan_Asset
Retirement Benefits (Plan Assets target allocation) (Details) | 12 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
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 | 70.00% | 71.00% |
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 | 25.00% | 23.00% |
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 | 0.00% | 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 | 55.00% | ' |
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum | 66.00% | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 61.00% | 61.00% |
International [Member] | Debt Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 33.00% | ' |
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum | 44.00% | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 37.00% | 36.00% |
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 | 1.00% | 2.00% |
Retirement_Benefits_Pension_pl
Retirement Benefits (Pension plan assets at fair value by asset class) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | |||
Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | $219.20 | $210.50 | $187.20 |
Level 3 [Member] | Real Estate [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 150.2 | 132.8 | 115 |
Level 3 [Member] | Pooled Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 9.3 | 9.4 | 8.7 |
Level 3 [Member] | Insurance Contracts [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 59.7 | 68.3 | 63.5 |
US [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 2,746.20 | 2,534.20 | 2,099.80 |
US [Member] | Cash and Cash Equivalents [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 9.9 | 10.1 | ' |
US [Member] | Equity Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 724.5 | 764.3 | ' |
US [Member] | Equity Mutual Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 535 | 487 | ' |
US [Member] | Equity Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 651.6 | 561.4 | ' |
US [Member] | Debt Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 636.8 | 12.5 | ' |
US [Member] | Collateralized Mortgage Backed Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 12.8 | 14.7 | ' |
US [Member] | Mutual Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 25.4 | 24 | ' |
US [Member] | Fixed Income Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 527.4 | ' |
US [Member] | Real Estate [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 150.2 | 132.8 | ' |
US [Member] | Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 1,294.80 | 1,285.40 | ' |
US [Member] | Level 1 [Member] | Cash and Cash Equivalents [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 9.9 | 10.1 | ' |
US [Member] | Level 1 [Member] | Equity Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 724.5 | 764.3 | ' |
US [Member] | Level 1 [Member] | Equity Mutual Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 535 | 487 | ' |
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 | 25.4 | 24 | ' |
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 | 1,301.10 | 1,116 | ' |
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 | 651.6 | 561.4 | ' |
US [Member] | Level 2 [Member] | Debt Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 636.8 | 12.5 | ' |
US [Member] | Level 2 [Member] | Collateralized Mortgage Backed Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 12.8 | 14.7 | ' |
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 | 0 | 527.4 | ' |
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 | 150.2 | 132.8 | ' |
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 | 150.2 | 132.8 | ' |
International [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 1,368.40 | 1,266.60 | 1,139.30 |
International [Member] | Cash and Cash Equivalents [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 11 | 16.9 | ' |
International [Member] | Equity Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 837.2 | 776 | ' |
International [Member] | Fixed Income Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 440.9 | 385.3 | ' |
International [Member] | Pooled Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 19.6 | 20.1 | ' |
International [Member] | Insurance Contracts [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 59.7 | 68.3 | ' |
International [Member] | Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 11 | 16.9 | ' |
International [Member] | Level 1 [Member] | Cash and Cash Equivalents [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 11 | 16.9 | ' |
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 | 1,288.40 | 1,172 | ' |
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 | 837.2 | 776 | ' |
International [Member] | Level 2 [Member] | Fixed Income Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 440.9 | 385.3 | ' |
International [Member] | Level 2 [Member] | Pooled Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 10.3 | 10.7 | ' |
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 | 69 | 77.7 | ' |
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 | 9.3 | 9.4 | ' |
International [Member] | Level 3 [Member] | Insurance Contracts [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | $59.70 | $68.30 | ' |
Retirement_Benefits_Projected_
Retirement Benefits (Projected benefit payments) (Details) (USD $) | Sep. 30, 2014 |
In Millions, unless otherwise specified | |
US [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
2015 | $122.50 |
2016 | 129 |
2017 | 138.6 |
2018 | 145.4 |
2019 | 154 |
2020 - 2024 | 899.2 |
International [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
2015 | 51.8 |
2016 | 54.6 |
2017 | 55.4 |
2018 | 16.5 |
2019 | 16.3 |
2020 - 2024 | 111.6 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
2015 | 10.9 |
2016 | 11 |
2017 | 10.8 |
2018 | 10.6 |
2019 | 10.3 |
2020 - 2024 | $42.90 |
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, 2014 | Sep. 30, 2013 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' |
Fair value at beginning of year | $210.50 | $187.20 |
Actual return on plan assets: | ' | ' |
Assets held at end of year | 16.5 | 25 |
Assets sold during the period | 1.2 | 0.2 |
Purchases, sales, and settlements, net | -9 | -1.9 |
Fair Value at End of Year | 219.2 | 210.5 |
Pooled Funds [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' |
Fair value at beginning of year | 9.4 | 8.7 |
Actual return on plan assets: | ' | ' |
Assets held at end of year | -0.9 | 1.6 |
Assets sold during the period | 1.2 | 0.2 |
Purchases, sales, and settlements, net | -0.4 | -1.1 |
Fair Value at End of Year | 9.3 | 9.4 |
Real Estate [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' |
Fair value at beginning of year | 132.8 | 115 |
Actual return on plan assets: | ' | ' |
Assets held at end of year | 17.4 | 17.8 |
Assets sold during the period | 0 | 0 |
Purchases, sales, and settlements, net | 0 | 0 |
Fair Value at End of Year | 150.2 | 132.8 |
Insurance Contracts [Member] | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' |
Fair value at beginning of year | 68.3 | 63.5 |
Actual return on plan assets: | ' | ' |
Assets held at end of year | 0 | 5.6 |
Assets sold during the period | 0 | 0 |
Purchases, sales, and settlements, net | -8.6 | -0.8 |
Fair Value at End of Year | $59.70 | $68.30 |
Retirement_Benefits_Assumed_he
Retirement Benefits (Assumed heathcare trend rates) (Details) | 12 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Defined Benefit Plan, Assumed Health Care Cost Trend Rates [Abstract] | ' | ' |
Healthcare trend rate | 7.00% | 7.50% |
Ultimate trend rate | 5.00% | 5.00% |
Year the ultimate trend rate is reached | '2019 | '2019 |
Commitments_and_Contingencies_1
Commitments and Contingencies (Litigation and Environmental) (Narrative) (Details) | 12 Months Ended | 1 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2010 | Sep. 30, 2014 | Sep. 30, 2014 |
Environmental [Member] | Environmental [Member] | Alleged Anticompete Litigation [Member] | Alleged Anticompete Litigation [Member] | Alleged Anticompete Litigation [Member] | |
USD ($) | USD ($) | BRL | USD ($) | BRL | |
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' |
Civil fines imposed | ' | ' | 179.2 | $73 | ' |
Provision for litigation | ' | ' | ' | 0 | ' |
Maximum of loss contingency range subject to interest | ' | ' | ' | 73 | 179.2 |
Accrual for environmental loss contingencies | 86.2 | 86.7 | ' | ' | ' |
Approximate number of sites on which settlement has not been reached | 36 | ' | ' | ' | ' |
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 | $99 | ' | ' | ' | ' |
Commitments_and_Contingencies_2
Commitments and Contingencies (Pace) (Narrative) (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | 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 | ' | ' | ' | $32 | $42 | ' |
Years to complete environmental remediation | ' | ' | ' | ' | '20 years | ' |
Change in estimated exposure | ' | ' | ' | 0 | ' | ' |
Pretax environmental expense | 35.1 | 37.1 | 44.7 | ' | ' | 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 | |||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | 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 | ' | ' | ' | $18.80 | $24 | ' |
Pretax environmental expense | 35.1 | 37.1 | 44.7 | ' | ' | 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, 2014 | Dec. 31, 2008 |
In Millions, unless otherwise specified | ||
Paulsboro, New Jersey [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Accrual for environmental loss contingencies | $4.40 | $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, 2014 | Sep. 30, 2012 |
Pasadena Texas Member [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Accrual for environmental loss contingencies | $12.30 | ' |
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, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Asset Retirement Obligation [Abstract] | ' | ' | ' |
Asset retirement obligations | $94 | $89.80 | $76.70 |
Additional accruals | 5.6 | 12.9 | ' |
Liabilities settled | -4.9 | -3.6 | ' |
Accretion expense | 5.2 | 3.4 | ' |
Currency translation adjustment | ($1.70) | $0.40 | ' |
Commitments_and_Contingencies_7
Commitments and Contingencies (Guarantees and Other) (Narrative) (Details) | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 |
In Millions, unless otherwise specified | USD ($) | Purchase commitments - additional plant and equipment [Member] | HYCO Feedstock Supply [Member] | Trinidad Facility [Member] | U K and Ireland Homecare Business [Member] | U K and Ireland Homecare Business [Member] |
USD ($) | USD ($) | USD ($) | USD ($) | GBP (£) | ||
Guarantor Obligations [Line Items] | ' | ' | ' | ' | ' | ' |
Equity method investment, ownership percentage | ' | ' | ' | 50.00% | ' | ' |
Maximum potential payment under guarantees | ' | ' | ' | $42.40 | $32 | £ 20 |
Exposures under the guarantee completion year | ' | ' | ' | '2024 | '2020 | '2020 |
Equity contributions or payments required | 0 | ' | ' | ' | ' | ' |
Unrecorded Unconditional Purchase Obligation [Line Items] | ' | ' | ' | ' | ' | ' |
2015 | 929 | 700 | ' | ' | ' | ' |
Unconditional purchase obligation | $1,548 | ' | $650 | ' | ' | ' |
Commitments_and_Contingencies_8
Commitments and Contingencies (Put Option Agreements) (Narrative) (Details) | 9 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Jul. 03, 2012 | Sep. 30, 2014 |
San Fu Gas [Member] | ' | ' |
Put Option [Line Items] | ' | ' |
Percentage of ownership | ' | 74.00% |
Put option effective date maximum | ' | 'JanuaryB 2015 |
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, 2014 |
In Millions, unless otherwise specified | |
Unrecorded Unconditional Purchase Obligation, Fiscal Year Maturity [Abstract] | ' |
2015 | $929 |
2016 | 154 |
2017 | 81 |
2018 | 65 |
2019 | 63 |
Thereafter | 256 |
Total | $1,548 |
Capital_Stock_Common_Stock_Nar
Capital Stock (Common Stock) (Narrative) (Details) (USD $) | 12 Months Ended | ||||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | 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 | 213,538,144 | 211,179,257 | 212,475,880 | 210,185,256 | ' |
Equity, Class of Treasury Stock [Line Items] | ' | ' | ' | ' | ' |
Share repurchase program authorized amount | ' | ' | ' | ' | $1,000 |
Shares repurchased during period, shares | 0 | 5,721,017 | 594,916 | ' | ' |
Cost of shares repurchased | ' | 461.6 | 53.1 | ' | ' |
Share repurchase authorization remaining, amount | $485.30 | ' | ' | ' | ' |
Capital_Stock_Changes_in_Commo
Capital Stock (Changes in Common Shares) (Details) | 12 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' |
Balance, beginning of year | 211,179,257 | 212,475,880 | 210,185,256 |
Purchase of treasury shares | 0 | -5,721,017 | -594,916 |
Issuance of treasury shares for stock option and award plans | 2,358,887 | 4,424,394 | 2,885,540 |
Balance, end of year | 213,538,144 | 211,179,257 | 212,475,880 |
Capital_Stock_Preferred_Stock_
Capital Stock (Preferred Stock and Shareholder Rights Plan) (Narrative) (Details) (USD $) | 12 Months Ended |
Sep. 30, 2014 | |
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 |
Market value of stock purchased per right in relation to exercise price | 200.00% |
Shareholder rights plan expiration date | 24-Jul-14 |
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, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Share-based Compensation Arrangement by Share-based Award [Line Items] | ' | ' | ' |
Shares available for future grant | 5,591,547 | ' | ' |
Employee Stock Options [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Award [Line Items] | ' | ' | ' |
Vesting or Deferral Period | '3 years | ' | ' |
Exercisable period from grant date | '10 years | ' | ' |
Weighted-average grant date fair value of stock option | $29.10 | $19.85 | $21.43 |
Closing stock price | $130.18 | ' | ' |
Intrinsic value of stock options exercised | $125.30 | $170.40 | $110.60 |
Unrecognized compensation costs | 13.6 | ' | ' |
Unrecognized compensation costs, period for recognition, years | '2 years 2 months | ' | ' |
Cash received from option exercises | 141.6 | ' | ' |
Tax benefit realized from stock option exericses | 43.4 | ' | ' |
Excess tax benefit | 23.6 | ' | ' |
Deferred Stock Units [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Award [Line Items] | ' | ' | ' |
Cash payments made for deferred stock units | 2.1 | 1.9 | 1.8 |
Unrecognized compensation costs | 22.6 | ' | ' |
Unrecognized compensation costs, period for recognition, years | '2 years 5 months | ' | ' |
Fair value of deferred stock units paid | 31.8 | 32.3 | 22 |
Deferred Stock Units [Member] | Minimum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Award [Line Items] | ' | ' | ' |
Vesting or Deferral Period | '2 years | ' | ' |
Deferred Stock Units [Member] | Maximum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Award [Line Items] | ' | ' | ' |
Vesting or Deferral Period | '5 years | ' | ' |
Performance-Based DSUs [Member] | Minimum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Award [Line Items] | ' | ' | ' |
Vesting or Deferral Period | '1 year | ' | ' |
Performance-Based DSUs [Member] | Maximum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Award [Line Items] | ' | ' | ' |
Vesting or Deferral Period | '3 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 | 5.5 | ' | ' |
Unrecognized compensation costs, period for recognition, years | '2 years 11 months | ' | ' |
Fair value of vested restricted stock | $12.10 | $4.40 | $2 |
Restricted Stock [Member] | Minimum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Award [Line Items] | ' | ' | ' |
Vesting or Deferral Period | '1 year | ' | ' |
Restricted Stock [Member] | Maximum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Award [Line Items] | ' | ' | ' |
Vesting or Deferral Period | '4 years | ' | ' |
ShareBased_Compensation_Compen
Share-Based Compensation (Compensation Cost Recognized in Income Statement) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Before-Tax Share-Based Compensation | $44 | $43.50 | $43.80 |
Income Tax Benefit | -15.6 | -15.7 | -15.7 |
After-Tax Share-Based Compensation | $28.40 | $27.80 | $28.10 |
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, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Share-based compensation | $44 | $43.50 | $43.80 |
Employee Stock Options [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Share-based compensation | 21.6 | 21.5 | 22.1 |
Deferred Stock Units [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Share-based compensation | 20.2 | 19.6 | 19.5 |
Restricted Stock [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Share-based compensation | $2.20 | $2.40 | $2.20 |
ShareBased_Compensation_Share_
Share-Based Compensation (Share based Compensation Arrangement Assumptions) (Details) | 12 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
Share-Based Compensation [Abstract] | ' | ' | ' |
Expected volatility, minimum | 29.80% | 28.60% | 29.00% |
Expected volatility, maximum | 31.10% | 30.40% | 30.40% |
Risk-free interest rate, minimum | 2.00% | 1.20% | 1.70% |
Risk-free interest rate, maximum | 2.70% | 1.50% | 2.10% |
Share-based Compensation Arrangement by Share-based Award [Line Items] | ' | ' | ' |
Expected dividend yield | ' | 2.40% | 2.30% |
Minimum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Award [Line Items] | ' | ' | ' |
Expected dividend yield | 2.40% | ' | ' |
Expected life in years | '6 years 6 months | '7 years 4 months | '7 years 4 months |
Maximum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Award [Line Items] | ' | ' | ' |
Expected dividend yield | 2.90% | ' | ' |
Expected life in years | '8 years 5 months | '9 years 1 month | '9 years |
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, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' |
Outstanding-Shares, Beginning | 8,612 |
Granted-Shares | 933 |
Exercised-Shares | -2,181 |
Forfeited-Shares | -80 |
Outstanding-Shares, Ending | 7,284 |
Exercisable-Shares | 5,346 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | ' |
Outstanding-Weighted Average Exercise Price, Beginning | $75.69 |
Granted-Weighted Average Exercise Price | $111.26 |
Exercised-Weighted Average Exercise Price | $65.29 |
Forfeited-Weighted Average Exercise Price | $94.90 |
Outstanding-Weighted Average Exercise Price, Ending | $83.14 |
Exercisable-Weighted Average Exercise Price | $78.64 |
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, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | ' |
Weighted Average Remaining Contractual Terms, Outstanding | '5 years 7 months |
Aggregated Intrinsic Value, Outstanding | $343 |
Weighted Average Remaining Contractual Terms, Exercisable | '4 years 6 months |
Aggregated Intrinsic Value, Exercisable | $276 |
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, 2014 |
Deferred Stock Units [Member] | ' |
Share Based Compensation Arrangement By Share-Based Payment Award NonOption Equity Instruments Outstanding [RollForward] | ' |
Outstanding - Shares, Beginning | 1,264 |
Granted - Shares | 229 |
Paid out - Shares | -289 |
Forfeited/adjustments - Shares | -68 |
Outstanding - Shares, Ending | 1,136 |
Outstanding - Weighted Average Grant Date Fair Value, Beginning | $75.64 |
Granted - Weighted Average Grant Date Fair Value | $108.54 |
Paid out - Weighted Average Grant Date Fair Value | $78.13 |
Forfeited/adjustments - Weighted Average Grant Date Fair Value | $85.51 |
Outstanding - Weighted Average Grant Date Fair Value, Ending | $81.03 |
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, 2014 |
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 | 124 |
Granted - Shares | 50 |
Vested - Shares | -98 |
Forfeited - Shares | -3 |
Outstanding - Shares, Ending | 73 |
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 | $78.51 |
Granted - Weighted Average Grant Date Fair Value | $123.77 |
Vested - Weighted Average Grant Date Fair Value | $77.33 |
Forfeited - Weighted Average Grant Date Fair Value | $82.41 |
Outstanding - Weighted Average Grant Date Fair Value, Ending | $110.75 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Loss (Rollforward) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Accumulated Other Comprehensive Income Loss [Line Items] | ' | ' | ' |
Beginning balance | ($1,020.60) | ($1,348.80) | ($1,253.40) |
Other comprehensive income (loss) before reclassifications | -302.5 | 241.9 | -183.2 |
Amounts reclassified from AOCL | 75.6 | 85.3 | 92.7 |
Net current period other comprehensive income (loss) | -226.9 | 327.2 | -90.5 |
Amount attributable to noncontrolling interest | -5.6 | -1 | 4.9 |
Ending Balance | -1,241.90 | -1,020.60 | -1,348.80 |
Net loss on derivatives qualifying as hedges [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income Loss [Line Items] | ' | ' | ' |
Beginning balance | -4.1 | -18.9 | -9.5 |
Other comprehensive income (loss) before reclassifications | -15.2 | 35 | -21.8 |
Amounts reclassified from AOCL | -9.1 | -20.2 | 12.4 |
Net current period other comprehensive income (loss) | -24.3 | 14.8 | -9.4 |
Amount attributable to noncontrolling interest | 0.1 | 0 | 0 |
Ending Balance | -28.5 | -4.1 | -18.9 |
Foreign currency translation adjustments [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income Loss [Line Items] | ' | ' | ' |
Beginning balance | -61.5 | -38.8 | -130.9 |
Other comprehensive income (loss) before reclassifications | -213.1 | -25 | 84.6 |
Amounts reclassified from AOCL | 0 | 0.6 | 13.3 |
Net current period other comprehensive income (loss) | -213.1 | -24.4 | 97.9 |
Amount attributable to noncontrolling interest | -5.9 | -1.7 | 5.8 |
Ending Balance | -268.7 | -61.5 | -38.8 |
Pension and postretirement benefits [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income Loss [Line Items] | ' | ' | ' |
Beginning balance | -955 | -1,291.10 | -1,113 |
Other comprehensive income (loss) before reclassifications | -74.2 | 231.9 | -246 |
Amounts reclassified from AOCL | 84.7 | 104.9 | 67 |
Net current period other comprehensive income (loss) | 10.5 | 336.8 | -179 |
Amount attributable to noncontrolling interest | 0.2 | 0.7 | -0.9 |
Ending Balance | ($944.70) | ($955) | ($1,291.10) |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Loss (Reclassification) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Other (income) expense, net | ' | ' | ' | ' | ' | ' | ' | ' | ($52.80) | ($70.20) | ($47.10) | |||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 125.1 | 141.8 | 123.7 | |||
Net Income Attributable to Air Products | -104 | -314 | -283.5 | -290.2 | -137.1 | -288.4 | -290.4 | -278.3 | -991.7 | -994.2 | -1,167.30 | |||
Income (Loss) from discontinued operations, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | 4.6 | -10 | 168.1 | |||
Reclassification Out Of Accumulated Other Comprehensive Income [Member] | (Gain) Loss on Cash Flow Hedges [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Sales/cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | 0.7 | 1 | 1.3 | |||
Other (income) expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -8.7 | -21.5 | 9.9 | |||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -1.1 | 0.3 | 1.2 | |||
Net Income Attributable to Air Products | ' | ' | ' | ' | ' | ' | ' | ' | -9.1 | -20.2 | 12.4 | |||
Reclassification Out Of Accumulated Other Comprehensive Income [Member] | Pension and postretirement benefits [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net Income Attributable to Air Products | ' | ' | ' | ' | ' | ' | ' | ' | 84.7 | [1] | 104.9 | [1] | 67 | [1] |
Reclassification Out Of Accumulated Other Comprehensive Income [Member] | Accumulated Translation Adjustment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Income (Loss) from discontinued operations, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | $0 | [2] | $0.60 | [2] | $13.30 | [2] |
[1] | The components include prior service cost amortization, actuarial loss amortization, and settlements and are reflected in net periodic benefit cost. Refer to Note 15, Retirement Benefits. | |||||||||||||
[2] | The impact is reflected in Income from Discontinued Operations, net of tax. |
Noncontrolling_Interests_Narra
Noncontrolling Interests (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |||||||
Noncontrolling Interest [Line Items] | ' | ' | ' | ' | ' | ' | ' | |||||||
Goodwill and intangible asset impairment charge | $310.10 | [1] | $0 | [1] | $0 | [1] | $0 | [1] | $310.10 | [1] | $0 | [1] | $0 | [1] |
Redeemable Noncontrolling Interest [Member] | ' | ' | ' | ' | ' | ' | ' | |||||||
Noncontrolling Interest [Line Items] | ' | ' | ' | ' | ' | ' | ' | |||||||
Goodwill and intangible asset impairment charge | ' | ' | ' | ' | $32.50 | ' | ' | |||||||
Indura [Member] | ' | ' | ' | ' | ' | ' | ' | |||||||
Noncontrolling Interest [Line Items] | ' | ' | ' | ' | ' | ' | ' | |||||||
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 | ' | ' | |||||||
[1] | For additional information, see Note 9, Goodwill and Note 10, Intangible Assets. |
Noncontrolling_Interests_Rollf
Noncontrolling Interests (Rollforward Redeemable Noncontrolling Interest) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | |
Redeemable Noncontrolling Interest [Line Items] | ' | ' | |
Balance, beginning of period | $375.80 | $392.50 | |
Net income (loss) | -27.4 | [1] | 8.1 |
Dividends | -4.7 | -1.1 | |
Currency translation adjustment | -56.5 | -23.7 | |
Balance, end of period | $287.20 | $375.80 | |
[1] | The 2014 net loss includes $32.5 for the goodwill and intangible asset impairment charge. Refer to Note 9, Goodwill, and Note 10, Intangible Assets, to the consolidated financial statements for additional details. |
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, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Earnings Per Share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income from continuing operations | $102.50 | $314 | $283.50 | $287.10 | $150.20 | $287.80 | $289.30 | $276.90 | $987.10 | $1,004.20 | $999.20 |
Income from discontinued operations | 1.5 | 0 | 0 | 3.1 | -13.1 | 0.6 | 1.1 | 1.4 | 4.6 | -10 | 168.1 |
Net Income Attributable to Air Products | $104 | $314 | $283.50 | $290.20 | $137.10 | $288.40 | $290.40 | $278.30 | $991.70 | $994.20 | $1,167.30 |
Weighted average number of common shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 212.7 | 209.7 | 211.2 |
Employee stock option and other award plans | ' | ' | ' | ' | ' | ' | ' | ' | 2.5 | 2.6 | 3.5 |
Weighted average number of common shares outstanding assuming dilution | ' | ' | ' | ' | ' | ' | ' | ' | 215.2 | 212.3 | 214.7 |
Income from Continuing Operations, Basic | $0.48 | $1.47 | $1.33 | $1.36 | $0.71 | $1.38 | $1.38 | $1.32 | $4.64 | $4.79 | $4.73 |
Income (loss) from Discontinued Operations, Basic | $0.01 | $0 | $0 | $0.01 | ($0.06) | $0 | $0.01 | $0.01 | $0.02 | ($0.05) | $0.80 |
Net Income Attributable to Air Products | $0.49 | $1.47 | $1.33 | $1.37 | $0.65 | $1.38 | $1.39 | $1.33 | $4.66 | $4.74 | $5.53 |
Income from Continuing Operations, Diluted | $0.47 | $1.46 | $1.32 | $1.34 | $0.70 | $1.36 | $1.37 | $1.30 | $4.59 | $4.73 | $4.66 |
Income from Discontinued Operations, Diluted | $0.01 | $0 | $0 | $0.01 | ($0.06) | $0 | $0.01 | $0.01 | $0.02 | ($0.05) | $0.78 |
Net Income Attributable to Air Products | $0.48 | $1.46 | $1.32 | $1.35 | $0.64 | $1.36 | $1.38 | $1.31 | $4.61 | $4.68 | $5.44 |
Earnings_per_Share_Narrative_D
Earnings per Share (Narrative) (Details) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Earnings Per Share | ' | ' | ' |
Antidilutive options excluded from computation of diluted earnings per share | 0.6 | 2.1 | 3.6 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) | 3 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2014 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2012 | Nov. 30, 2011 | Nov. 30, 2011 | Mar. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Chilean Tax Rate Change [Member] | Chilean Tax Rate Change [Member] | Non-U.S. Subsidiary Tax Election [Member] | Spanish Tax Settlement [Member] | Spanish Tax Settlement [Member] | Spanish Tax Settlement [Member] | Spanish Tax Ruling [Member] | Spanish Tax Ruling [Member] | European Homecare Business [Member] | Federal [Member] | Federal [Member] | Federal [Member] | Foreign [Member] | Foreign [Member] | State [Member] | State [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | USD ($) | USD ($) | Capital Loss Carryforward [Member] | Tax Credit Carryforward [Member] | USD ($) | Loss and Tax Credit Member [Member] | USD ($) | Loss and Tax Credit Member [Member] | |||||||
USD ($) | |||||||||||||||||||||
Income Taxes [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Effective income tax rate reconciliation, change in enacted tax rate | ' | ' | ' | ' | ' | 1.50% | 1.10% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income tax payments, net of refunds | ' | $160.60 | $325.50 | $255.70 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (decrease) in income tax expense | ' | ' | ' | ' | ' | ' | ' | -51.6 | 43.8 | ' | ' | -58.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (decrease) in income tax expense, per share | ' | ' | ' | ' | ' | ' | ' | ' | $0.20 | ' | ' | ($0.27) | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income tax expense from recent tax reform | ' | ' | ' | ' | ' | 20.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill impairment charge | 305.2 | 305.2 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill impairment charge deductible for tax purposes | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital loss carryforwards | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 156.9 | ' | ' | ' | ' | ' | ' |
Tax credit carryforwards | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30.1 | ' | ' | 44 | ' | 4 | ' |
Operating loss carryforwards | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 228.3 | ' | 372.2 | ' |
Tax credits and other tax carryforwards | 78.1 | 78.1 | 66.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax carryforward expiration period start | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2023 | ' | '2015 | ' | '2015 |
Tax carryforward expiration period end | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2019 | '2033 | ' | '2030 | ' | '2034 |
Unused carryforwards and credits that have an expiration period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 162.5 | ' | ' | ' |
Valuation allowance related to loss carryforwards | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40.6 | ' | ' | ' |
Deferred tax assets, valuation allowance | 103.8 | 103.8 | 44.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 53.9 | ' | ' | ' | ' | ' |
Cumulative undistributed earnings | 5,894.20 | 5,894.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of the undistributed earnings in countries with a statutory tax rate of 24% or higher | 80.00% | 80.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Statutory tax rate percentage or higher | 24.00% | 24.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
US Income and foreign withholding taxes estimate | 1,466.20 | 1,466.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized tax benefits | 108.7 | 108.7 | 124.3 | 110.8 | 126.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized tax benefits that would impact effective tax rate | 66.5 | 66.5 | 63.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest and penalties related to unrecognized tax benefits | ' | 1.2 | 2.4 | -26.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued interest and penalties | 9.3 | 9.3 | 8.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (decrease) in unrecognized tax benefit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 33.3 | ' | ' | ' | ' | ' | ' | ' |
Unrecognized tax benefits, decreases resulting from prior period tax positions | ' | 14.6 | 0.5 | 46.9 | ' | ' | ' | ' | 6.4 | ' | ' | ' | 38.3 | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized tax benefits,decreases resulting from settlements with taxing authorities | ' | 0 | 1.4 | 11 | ' | ' | ' | ' | 11 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
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, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Tax Expense (Benefit), Continuing Operations [Abstract] | ' | ' | ' |
Income (Loss) from Continuing Operations before Income Taxes, United States | $555.90 | $428.50 | $518.60 |
Income (Loss) from Continuing Operations before Income Taxes, Foreign | 647.2 | 754.1 | 640.1 |
Income (Loss) from Equity Method Investments | 151.4 | 167.8 | 153.8 |
Income from Continuing Operations before Taxes | $1,354.50 | $1,350.40 | $1,312.50 |
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, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Current Income Tax Expense | ' | ' | ' |
Federal, Current | $17.20 | $97.60 | $43.10 |
State, Current | 12.8 | 6.5 | 9.6 |
Foreign, Current | 210.5 | 191 | 173.9 |
Current Tax Provision | 240.5 | 295.1 | 226.6 |
Deferred Income Tax Expense | ' | ' | ' |
Federal, Deferred | 98.2 | 27.7 | 76.5 |
State, Deferred | -2.7 | -7.8 | 4 |
Foreign, Deferred | 30 | -7.1 | -19.8 |
Deferred Tax Provision | 125.5 | 12.8 | 60.7 |
Income tax provision | $366 | $307.90 | $287.30 |
Income_Taxes_Effective_Tax_Rat
Income Taxes (Effective Tax Rate Reconciliation) (Details) | 12 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
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% | 0.50% | 0.70% |
Income from equity affiliates | -3.90% | -4.30% | -4.00% |
Foreign taxes and credits | -10.00% | -6.90% | -8.60% |
Domestic production activities | -0.70% | -0.60% | -0.90% |
Tax audit settlements and adjustments | 0.00% | 0.00% | -1.10% |
Non-deductible goodwill impairment charge | 8.00% | 0.00% | 0.00% |
Non-U.S. subsidiary tax election | -3.80% | 0.00% | 0.00% |
Other | 1.90% | -0.90% | 0.80% |
Effective Tax Rate | 27.00% | 22.80% | 21.90% |
Income_Taxes_Significant_Compo
Income Taxes (Significant Components of Deferred Tax Assets and Liabilities) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | ||
Deferred Tax Assets, Gross [Abstract] | ' | ' |
Retirement benefits and compensation accruals | $348.90 | $347.20 |
Tax loss carryforwards | 125 | 53.3 |
Tax credits and other tax carryforwards | 78.1 | 66.6 |
Reserves and accruals | 80.1 | 140.3 |
Currency losses | 0 | 34.8 |
Other | 46.1 | 40.1 |
Valuation allowance | -103.8 | -44.7 |
Deferred Tax Assets | 574.4 | 637.6 |
Deferred Tax Liabilities, Gross [Abstract] | ' | ' |
Plant and equipment | 1,089.50 | 1,066.40 |
Currency gains | 18.2 | 0 |
Unremitted earnings of foreign entities | 100 | 80.6 |
Intangible assets | 150 | 135.5 |
Other | 22.8 | 17.8 |
Deferred Tax Liabilities | 1,380.50 | 1,300.30 |
Net Deferred Income Tax Liabilities | $806.10 | $662.70 |
Income_Taxes_Deferred_Tax_Asse
Income Taxes (Deferred Tax Assets And Liabilities Included In Consolidated Financials) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | ||
Deferred Tax Assets [Abstract] | ' | ' |
Other receivables and current assets | $136 | $115.30 |
Other noncurrent assets | 56.6 | 53.1 |
Total Deferred Tax Assets | 192.6 | 168.4 |
Deferred Tax Liabilities [Abstract] | ' | ' |
Payables and accrued liabilities | 3.2 | 3.9 |
Deferred income taxes | 995.5 | 827.2 |
Total Deferred Tax Liabilities | 998.7 | 831.1 |
Net Deferred Income Tax Liabilities | $806.10 | $662.70 |
Income_Taxes_Reconciliation_Of
Income Taxes (Reconciliation Of Unrecognized Tax Benefits) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ' | ' | ' |
Balance at beginning of year | $124.30 | $110.80 | $126.40 |
Additions for tax positions of the current year | 8.1 | 12.7 | 44.5 |
Additions for tax positions of prior years | 4.9 | 9 | 2.3 |
Reductions for tax positions of prior years | -14.6 | -0.5 | -46.9 |
Settlements | 0 | -1.4 | -11 |
Statute of limitations expiration | -14 | -8 | -3.7 |
Foreign currency translation adjustment increase | ' | 1.7 | ' |
Foreign currency translation adjustment decrease | 0 | ' | -0.8 |
Balance at End of Year | $108.70 | $124.30 | $110.80 |
Income_Taxes_Summary_Of_Income
Income Taxes (Summary Of Income Tax Examinations) (Details) | 12 Months Ended |
Sep. 30, 2014 | |
North America [Member] | United States | Minimum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2011 |
North America [Member] | United States | Maximum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2014 |
North America [Member] | Canada | Minimum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2012 |
North America [Member] | Canada | Maximum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2014 |
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 | '2014 |
Europe [Member] | Germany | Minimum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2009 |
Europe [Member] | Germany | Maximum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2014 |
Europe [Member] | Netherlands | Minimum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2009 |
Europe [Member] | Netherlands | Maximum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2014 |
Europe [Member] | Poland | Minimum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2009 |
Europe [Member] | Poland | Maximum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2014 |
Europe [Member] | Spain | Minimum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2010 |
Europe [Member] | Spain | Maximum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2014 |
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 | '2014 |
Asia [Member] | China | Minimum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2009 |
Asia [Member] | China | Maximum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2014 |
Asia [Member] | Singapore | Minimum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2009 |
Asia [Member] | Singapore | Maximum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2014 |
Asia [Member] | South Korea | Minimum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2009 |
Asia [Member] | South Korea | Maximum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2014 |
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 | '2014 |
Latin America [Member] | Brazil | Minimum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2009 |
Latin America [Member] | Brazil | Maximum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2014 |
Latin America [Member] | Chile | Minimum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2011 |
Latin America [Member] | Chile | Maximum [Member] | ' |
Income Tax Examination [Line Items] | ' |
Open Tax Year | '2014 |
Supplemental_Information_Other
Supplemental Information (Other Receivables and Current Assets) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | ||
Supplemental Information [Abstract] | ' | ' |
Deferred tax assets | $136 | $115.30 |
Derivative instruments | 106.6 | 61.8 |
Other receivables | 200 | 174.1 |
Current capital lease receivables | 67.8 | 67.2 |
Other | 12.6 | 14 |
Other receivables and current assets, total | $523 | $432.40 |
Supplemental_Information_Other1
Supplemental Information (Other Noncurrent Assets) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | ||
Supplemental Information [Abstract] | ' | ' |
Derivative instruments | $65.10 | $64.10 |
Other long-term receivables | 35.1 | 38.2 |
Deferred financing cost, net | 25.5 | 27 |
Prepaid taxes | 31.3 | 34.1 |
Deferred tax assets | 56.6 | 53.1 |
Pension benefits | 22.9 | 20.5 |
Deposits | 51 | 8.7 |
Other | 138.8 | 147.8 |
Other noncurrent assets total | $426.30 | $393.50 |
Supplemental_Information_Payab
Supplemental Information (Payables and Accrued Liabilities) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | ||
Supplemental Information [Abstract] | ' | ' |
Trade creditors | $740.60 | $1,025.50 |
Customer advances | 172.1 | 162.7 |
Accrued payroll and employee benefits | 155 | 133.5 |
Pension and postretirement benefits | 48.4 | 25.6 |
Dividends payable | 164.1 | 150 |
Outstanding payments in excess of certain cash balances | 28 | 10.5 |
Accrued interest expense | 46.9 | 54.1 |
Derivative instruments | 82.5 | 27.5 |
Contingent proceeds related to Homecare retenders | 0 | 148.1 |
Severance and other costs associated with business restructuring and cost reduction actions | 20.6 | 65.2 |
Other | 132.8 | 142.2 |
Payables and accrued liabilities total | $1,591 | $1,944.90 |
Supplemental_Information_Other2
Supplemental Information (Other Noncurrent Liabilities) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | ||
Liabilities, Noncurrent [Abstract] | ' | ' |
Pension benefits | $609.20 | $599 |
Postretirement benefits | 82.8 | 89 |
Other employee benefits | 107.6 | 114.3 |
Contingencies related to uncertain tax positions | 111.6 | 94.2 |
Advance payments | 57.6 | 31 |
Environmental liabilities | 78.4 | 79.6 |
Derivative instruments | 3.4 | 13.8 |
Asset retirement obligation | 94 | 86 |
Other | 42.9 | 57.4 |
Other noncurrent liabilities total | $1,187.50 | $1,164.30 |
Supplemental_Information_Other3
Supplemental Information (Other Income Expense) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Other Income (Expense) [Abstract] | ' | ' | ' |
Technology and royalty income | $26.80 | $23.40 | $22.90 |
Interest income | 9.4 | 6.4 | 5.4 |
Foreign exchange | -7.7 | -3.2 | 1.1 |
Sale of assets and investments | 9.7 | 20 | 8.4 |
Government grants | 1.1 | 6.8 | 15.2 |
Other | 13.5 | 16.8 | -5.9 |
Total Other Income (Expense), net | $52.80 | $70.20 | $47.10 |
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 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | ||||||
Supplemental Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Advisory costs | $10.10 | [1] | $0 | [1] | $0 | [1] | $0 | [1] | ' | $0 | $10.10 | [1] | $0 | |
Advisory costs, after-tax | 6.4 | ' | ' | ' | ' | ' | ' | ' | ||||||
Advisory costs, per share | $0.03 | ' | ' | ' | ' | ' | ' | ' | ||||||
Customer bankruptcy | ' | ' | ' | ' | 9.8 | [1] | 0 | 0 | 9.8 | |||||
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, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Sales | $2,677 | $2,634.60 | $2,581.90 | $2,545.50 | $2,586.50 | $2,547.30 | $2,484.20 | $2,562.40 | $10,439 | $10,180.40 | $9,611.70 | |||||||||||
Gross profit | 744.6 | 715.9 | 664.3 | 679.6 | 703.6 | 671.8 | 670.6 | 662.3 | 2,804.40 | 2,708.30 | ' | |||||||||||
Business restructuring and cost reduction actions | 12.7 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 231.6 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 12.7 | [1],[2] | 231.6 | [1],[2] | 327.4 | [1],[2] |
Pension settlement loss | 5.5 | [3] | 0 | [3] | 0 | [3] | 0 | [3] | 7.9 | [3] | 4.5 | [3] | 0 | [3] | 0 | [3] | 5.5 | [3] | 12.4 | [3] | 0 | [3] |
Goodwill and intangible asset impairment charge | 310.1 | [4] | 0 | [4] | 0 | [4] | 0 | [4] | ' | ' | ' | ' | 310.1 | [4] | 0 | [4] | 0 | [4] | ||||
Advisory costs | ' | ' | ' | ' | 10.1 | [5] | 0 | [5] | 0 | [5] | 0 | [5] | 0 | 10.1 | [5] | 0 | ||||||
Operating income | 144.1 | 413.8 | 384.7 | 385.6 | 179.2 | 383.1 | 389.7 | 372.4 | 1,328.20 | 1,324.40 | 1,282.40 | |||||||||||
Net income | 79 | 323.5 | 291.5 | 299.1 | 147.3 | 298.4 | 299.6 | 287.2 | 993.1 | 1,032.50 | 1,193.30 | |||||||||||
Income from continuing operations attributable to Air Products | 102.5 | 314 | 283.5 | 287.1 | 150.2 | 287.8 | 289.3 | 276.9 | 987.1 | 1,004.20 | 999.2 | |||||||||||
Income (Loss) from discontinued operations, net of tax, attributable to Air Products | 1.5 | 0 | 0 | 3.1 | -13.1 | 0.6 | 1.1 | 1.4 | 4.6 | -10 | 168.1 | |||||||||||
Net Income Attributable to Air Products | $104 | $314 | $283.50 | $290.20 | $137.10 | $288.40 | $290.40 | $278.30 | $991.70 | $994.20 | $1,167.30 | |||||||||||
Basic Earnings Per Common Share Attributable to Air Products | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Income from continuing operations | $0.48 | $1.47 | $1.33 | $1.36 | $0.71 | $1.38 | $1.38 | $1.32 | $4.64 | $4.79 | $4.73 | |||||||||||
Income (loss) from discontinued operations | $0.01 | $0 | $0 | $0.01 | ($0.06) | $0 | $0.01 | $0.01 | $0.02 | ($0.05) | $0.80 | |||||||||||
Net Income Attributable to Air Products | $0.49 | $1.47 | $1.33 | $1.37 | $0.65 | $1.38 | $1.39 | $1.33 | $4.66 | $4.74 | $5.53 | |||||||||||
Diluted Earnings Per Common Share Attributable to Air Products | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Income from continuing operations | $0.47 | $1.46 | $1.32 | $1.34 | $0.70 | $1.36 | $1.37 | $1.30 | $4.59 | $4.73 | $4.66 | |||||||||||
Income (loss) from discontinued operations | $0.01 | $0 | $0 | $0.01 | ($0.06) | $0 | $0.01 | $0.01 | $0.02 | ($0.05) | $0.78 | |||||||||||
Net Income Attributable to Air Products | $0.48 | $1.46 | $1.32 | $1.35 | $0.64 | $1.36 | $1.38 | $1.31 | $4.61 | $4.68 | $5.44 | |||||||||||
Dividends per common share | $0.77 | $0.77 | $0.77 | $0.71 | $0.71 | $0.71 | $0.71 | $0.64 | $3.02 | $2.77 | $2.50 | |||||||||||
Market Price Per Share High | $137.45 | $131.48 | $124.40 | $113.99 | $114.75 | $97.12 | $90.34 | $86.31 | ' | ' | ' | |||||||||||
Market Price Per Share Low | $126.82 | $114.28 | $102.73 | $102.23 | $90.12 | $84.04 | $84.15 | $76.78 | ' | ' | ' | |||||||||||
[1] | For additional information, see Note 4, Business Restructuring and Cost Reduction Actions. | |||||||||||||||||||||
[2] | Information about how this charge related to the businesses at the segment level is discussed in Note 4, Business Restructuring and Cost Reduction Actions. | |||||||||||||||||||||
[3] | For additional information, see Note 15, Retirement Benefits. | |||||||||||||||||||||
[4] | For additional information, see Note 9, Goodwill and Note 10, Intangible Assets. | |||||||||||||||||||||
[5] | For additional information, see Note 23, Supplemental Information. |
Business_Segment_and_Geographi2
Business Segment and Geographic Information (Narratives) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Segments | |||
Segment Reporting Information [Line Items] | ' | ' | ' |
Number of reportable segments | 4 | ' | ' |
Export sales to unconsolidated customers | $378.70 | $410.30 | $521.10 |
Sales Revenue, Net [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenue from single customer accounting for more than 10 percent | 0.00% | ' | ' |
Business_Segment_and_Geographi3
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, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales to External Customers | $2,677 | $2,634.60 | $2,581.90 | $2,545.50 | $2,586.50 | $2,547.30 | $2,484.20 | $2,562.40 | $10,439 | $10,180.40 | $9,611.70 |
Segment Total [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales to External Customers | ' | ' | ' | ' | ' | ' | ' | ' | 10,439 | 10,180.40 | 9,611.70 |
Merchant Gases [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales to External Customers | ' | ' | ' | ' | ' | ' | ' | ' | 4,250.70 | 4,098.60 | 3,662.40 |
Tonnage Gases [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales to External Customers | ' | ' | ' | ' | ' | ' | ' | ' | 3,288.90 | 3,387.30 | 3,206.70 |
Electronics and Performance Materials [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales to External Customers | ' | ' | ' | ' | ' | ' | ' | ' | 2,449 | 2,243.40 | 2,322.50 |
Equipment and Energy [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales to External Customers | ' | ' | ' | ' | ' | ' | ' | ' | $450.40 | $451.10 | $420.10 |
Business_Segment_and_Geographi4
Business Segment and Geographic Information (Schedule of Income Information) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | ||||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Business restructuring and cost reduction actions | ($12.70) | [1] | $0 | [1] | $0 | [1] | $0 | [1] | ($231.60) | [1] | $0 | [1] | $0 | [1] | $0 | [1] | ' | ($12.70) | [1],[2] | ($231.60) | [1],[2] | ($327.40) | [1],[2] | |
Pension settlement loss | -5.5 | [3] | 0 | [3] | 0 | [3] | 0 | [3] | -7.9 | [3] | -4.5 | [3] | 0 | [3] | 0 | [3] | ' | -5.5 | [3] | -12.4 | [3] | 0 | [3] | |
Goodwill and intangible asset impairment charge | -310.1 | [4] | 0 | [4] | 0 | [4] | 0 | [4] | ' | ' | ' | ' | ' | -310.1 | [4] | 0 | [4] | 0 | [4] | |||||
Customer bankruptcy | ' | ' | ' | ' | ' | ' | ' | ' | -9.8 | [5] | 0 | 0 | -9.8 | |||||||||||
Advisory costs | ' | ' | ' | ' | -10.1 | [5] | 0 | [5] | 0 | [5] | 0 | [5] | ' | 0 | -10.1 | [5] | 0 | |||||||
Operating income | 144.1 | 413.8 | 384.7 | 385.6 | 179.2 | 383.1 | 389.7 | 372.4 | ' | 1,328.20 | 1,324.40 | 1,282.40 | ||||||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | 956.9 | 907 | 840.8 | ||||||||||||
Equity affiliates' income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 151.4 | 167.8 | 153.8 | ||||||||||||
Segment Total [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,670 | 1,583.20 | 1,626.20 | ||||||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | 956.1 | 906 | 839.9 | ||||||||||||
Equity affiliates' income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 151.4 | 167.8 | 153.8 | ||||||||||||
Segment Reconciling Items [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Business restructuring and cost reduction actions | ' | ' | ' | ' | ' | ' | ' | ' | ' | -12.7 | [2] | -231.6 | [2] | -327.4 | [2] | |||||||||
Pension settlement loss | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5.5 | -12.4 | 0 | ||||||||||||
Goodwill and intangible asset impairment charge | ' | ' | ' | ' | ' | ' | ' | ' | ' | -310.1 | 0 | 0 | ||||||||||||
Customer bankruptcy | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -9.8 | ||||||||||||
Advisory costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -10.1 | 0 | ||||||||||||
Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | -13.5 | -4.7 | -6.6 | ||||||||||||
Other Non-Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.8 | 1 | 0.9 | ||||||||||||
Merchant Gases [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 671.6 | 680.5 | 644 | ||||||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | 461.1 | 409.5 | 363.2 | ||||||||||||
Equity affiliates' income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 140.1 | 145 | 137.1 | ||||||||||||
Segments other than Merchant Gases [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Equity affiliates' income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11.3 | 22.8 | 16.7 | ||||||||||||
Tonnage Gases [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 484.9 | 515.9 | 512 | ||||||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | 310.8 | 314.8 | 320.4 | ||||||||||||
Electronics and Performance Materials [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 425.3 | [6] | 321.3 | [6] | 425.6 | [6] | |||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | 171.8 | 173.4 | 144.1 | ||||||||||||
Equipment and Energy [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 88.2 | 65.5 | 44.6 | ||||||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | $12.40 | $8.30 | $12.20 | ||||||||||||
[1] | For additional information, see Note 4, Business Restructuring and Cost Reduction Actions. | |||||||||||||||||||||||
[2] | Information about how this charge related to the businesses at the segment level is discussed in Note 4, Business Restructuring and Cost Reduction Actions. | |||||||||||||||||||||||
[3] | For additional information, see Note 15, Retirement Benefits. | |||||||||||||||||||||||
[4] | For additional information, see Note 9, Goodwill and Note 10, Intangible Assets. | |||||||||||||||||||||||
[5] | For additional information, see Note 23, Supplemental Information. | |||||||||||||||||||||||
[6] | The gain on remeasuring our previously held equity interest in DA NanoMaterials is included in 2012. For additional information, see Note 5, Business Combinations. |
Business_Segment_and_Geographi5
Business Segment and Geographic Information (Schedule of Assets Information) (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Total Assets | $17,779.10 | $17,850.10 | $16,941.80 | |||
Investment in net assets of and advances to equity affiliates | 1,257.90 | 1,195.50 | 1,175.70 | |||
Identifiable Assets | 16,521.20 | 16,654.60 | 15,766.10 | |||
Additions to plant and equipment | 1,684.20 | [1] | 1,524.20 | [1] | 1,521 | [1] |
Segment Total [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Total Assets | 16,842.40 | 16,857 | 15,973.60 | |||
Identifiable Assets | 15,584.50 | 15,661.50 | 14,797.90 | |||
Other Non-Segment [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Total Assets | 936.7 | 990.6 | 925.4 | |||
Identifiable Assets | 936.7 | 990.6 | 925.4 | |||
Discontinued Operations [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Total Assets | 0 | 2.5 | 42.8 | |||
Identifiable Assets | 0 | 2.5 | 42.8 | |||
Merchant Gases [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Total Assets | 7,350.40 | 7,742.20 | 7,411.90 | |||
Investment in net assets of and advances to equity affiliates | 1,074.10 | 1,012.30 | 983.4 | |||
Identifiable Assets | 6,276.30 | 6,729.90 | 6,428.50 | |||
Additions to plant and equipment | 587.9 | [1] | 558.7 | [1] | 523.6 | [1] |
Segments other than Merchant Gases [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Investment in net assets of and advances to equity affiliates | 183.8 | 183.2 | 192.3 | |||
Tonnage Gases [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Total Assets | 5,620.50 | 5,528.20 | 5,192.20 | |||
Identifiable Assets | 5,487.70 | 5,397 | 5,059.80 | |||
Additions to plant and equipment | 556.6 | [1] | 448 | [1] | 630.7 | [1] |
Electronics and Performance Materials [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Total Assets | 2,832.50 | 2,891.50 | 2,969.60 | |||
Identifiable Assets | 2,798 | 2,859.40 | 2,930.30 | |||
Additions to plant and equipment | 139.9 | [1] | 226.8 | [1] | 280.8 | [1] |
Equipment and Energy [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Total Assets | 1,039 | 695.1 | 399.9 | |||
Identifiable Assets | 1,022.50 | 675.2 | 379.3 | |||
Additions to plant and equipment | $399.80 | [1] | $290.70 | [1] | $85.90 | [1] |
[1] | Includes plant and equipment. |
Business_Segment_and_Geographi6
Business Segment and Geographic Information (Schedule of Geographic Information) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |||||
Revenue from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Sales to External Customers | $2,677 | $2,634.60 | $2,581.90 | $2,545.50 | $2,586.50 | $2,547.30 | $2,484.20 | $2,562.40 | $10,439 | $10,180.40 | $9,611.70 | |||||
Long Lived Assets | 9,532.10 | [1] | ' | ' | ' | 8,974 | [1] | ' | ' | ' | 9,532.10 | [1] | 8,974 | [1] | 8,240.60 | [1] |
United States | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenue from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Sales to External Customers | ' | ' | ' | ' | ' | ' | ' | ' | 4,507.60 | 4,258.40 | 4,114.50 | |||||
Long Lived Assets | 3,756 | [1] | ' | ' | ' | 3,632.10 | [1] | ' | ' | ' | 3,756 | [1] | 3,632.10 | [1] | 3,534.40 | [1] |
Canada | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenue from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Sales to External Customers | ' | ' | ' | ' | ' | ' | ' | ' | 311.4 | 275.5 | 267.6 | |||||
Long Lived Assets | 518 | [1] | ' | ' | ' | 522.3 | [1] | ' | ' | ' | 518 | [1] | 522.3 | [1] | 571.3 | [1] |
Europe [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenue from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Sales to External Customers | ' | ' | ' | ' | ' | ' | ' | ' | 2,628 | 2,602.10 | 2,588.50 | |||||
Long Lived Assets | 2,245.40 | [1] | ' | ' | ' | 2,068.80 | [1] | ' | ' | ' | 2,245.40 | [1] | 2,068.80 | [1] | 1,760.10 | [1] |
Asia excluding China [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenue from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Sales to External Customers | ' | ' | ' | ' | ' | ' | ' | ' | 1,389.40 | 1,320.10 | 1,349.90 | |||||
Long Lived Assets | 989.9 | [1] | ' | ' | ' | 962.3 | [1] | ' | ' | ' | 989.9 | [1] | 962.3 | [1] | 948.1 | [1] |
China | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenue from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Sales to External Customers | ' | ' | ' | ' | ' | ' | ' | ' | 981 | 1,008.30 | 954.1 | |||||
Long Lived Assets | 1,582.70 | [1] | ' | ' | ' | 1,281.70 | [1] | ' | ' | ' | 1,582.70 | [1] | 1,281.70 | [1] | 918.5 | [1] |
Latin America Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenue from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Sales to External Customers | ' | ' | ' | ' | ' | ' | ' | ' | 621.6 | 716 | 337.1 | |||||
Long Lived Assets | $440.10 | [1] | ' | ' | ' | $506.80 | [1] | ' | ' | ' | $440.10 | [1] | $506.80 | [1] | $508.20 | [1] |
[1] | Long-lived assets include plant and equipment, net. |
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, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |||
Allowance for Doubtful Accounts [Member] | ' | ' | ' | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' | |||
Balance at Beginning of Period | $102 | $104 | $78 | |||
Charged to Expense | 8 | 9 | 21 | |||
Charged to Other Accounts | 8 | 19 | 16 | |||
Other | -58 | [1] | -30 | [1] | -11 | [1] |
Balance at End of Period | 60 | 102 | 104 | |||
Allowance for deferred tax assets [Member] | ' | ' | ' | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' | |||
Balance at Beginning of Period | 45 | 37 | 28 | |||
Charged to Expense | 58 | [2] | 8 | 9 | ||
Charged to Other Accounts | 1 | 0 | 0 | |||
Other | 0 | [1] | 0 | [1] | 0 | [1] |
Balance at End of Period | $104 | $45 | $37 | |||
[1] | Primarily write-offs of uncollectible trade receivable accounts. Includes impact of foreign currency translation adjustments. | |||||
[2] | The increase in the valuation allowance was primarily due to the capital loss generated from the tax election related to a non-U.S. subsidiary. |