FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Sep. 30, 2025

Carrying Amounts and Fair Values of Financial Instruments

The following summarizes the carrying amounts and fair values of financial instruments (in millions):


		September 30, 2025				September 30, 2024
	Level	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Assets:
Cash and cash equivalents	1	$	2,808	$	2,808	$	6,261	$	6,261
Interest rate swap agreements (1)	2	3		3		34		34
Interest rate cap agreements (1)	2	—		—		20		20
Interest rate collar agreements (1)	2	4		4		—		—
Foreign currency forward exchange contracts (1)	2	—		—		3		3
Interest rate swap agreements (2)	2	5		5		—		—

Interest rate collar agreements (2)	2	3		3		3		3
Liabilities:
Interest rate swap agreements (3)	2	—		—		1		1
Interest rate cap agreements (3)	2	—		—		1		1
Foreign currency forward exchange contracts (3)	2	2		2		—		—


Interest rate collar agreements (4)	2	3		3		8		8
Short-term borrowings - trade receivable securitization facility (5)	2	724		724		486		486
Long-term debt, including current portion:
Term loans (5)	2	11,048		11,120		8,642		8,694
5.500% 2027 Notes (5)	1	—		—		2,641		2,637
2028 Secured Notes (5)	1	2,083		2,139		2,077		2,160
4.625% 2029 Notes (5)	1	1,195		1,175		1,194		1,160
2029 Secured Notes (5)	1	2,732		2,812		2,727		2,836
4.875% 2029 Notes (5)	1	747		739		746		729
2030 Secured Notes (5)	1	1,440		1,501		1,438		1,519
2031 Secured Notes (5)	1	986		1,041		984		1,058
2032 Secured Notes (5)	1	2,183		2,263		2,180		2,291
2033 Secured Notes (5)	1	1,488		1,517		1,486		1,521
6.375% 2033 Notes (5)	1	2,616		2,686		—		—
2034 Secured Notes (5)	1	495		514		—		—
6.750% 2034 Notes (5)	1	1,982		2,068		—		—
Government refundable advances	2	12		12		17		17
Finance lease obligations	2	284		284		262		262

(1)Included in prepaid expenses and other on the consolidated balance sheets.

(2)Included in other assets on the consolidated balance sheets.

(3)Included in accrued and other current liabilities on the consolidated balance sheets.

(4)Included in other non-current liabilities on the consolidated balance sheets.

(5)The carrying amount of the debt instrument is presented net of debt issuance costs and original issue discount. Refer to Note 10, “Debt,” for gross carrying amounts.