XML 69 R49.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Retirement Plans (Tables) | 12 Months Ended
--- | ---
Sep. 30, 2017
Defined Benefit Plan Disclosure [Line Items] |
Plan Assets by Asset Category | The Company’s plan assets at September 30, 2017 and 2016, by asset category, are as follows (in millions):
| Fair Value Measurements Using:
Asset Category | Total as of September 30, 2017 |  | Quoted Prices in Active Markets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
U.S. Pension |  |  |  |  |  |  |
Cash and Cash Equivalents | $ | 70 |  |  | $ | 2 |  |  | $ | 68 |  |  | $ | — |
Equity Securities |  |  |  |  |  |  |
Large-Cap | 652 |  |  | 375 |  |  | 277 |  |  | — |
Small-Cap | 281 |  |  | 281 |  |  | — |  |  | — |
International - Developed | 649 |  |  | 569 |  |  | 80 |  |  | — |
International - Emerging | 51 |  |  | 24 |  |  | 27 |  |  | — |
Fixed Income Securities |  |  |  |  |  |  |
Government | 270 |  |  | 243 |  |  | 27 |  |  | — |
Corporate/Other | 917 |  |  | 851 |  |  | 66 |  |  | — |
Total Investments in the Fair Value Hierarchy | 2,890 |  |  | $ | 2,345 |  |  | $ | 545 |  |  | $ | — |
Investments Measured at Net Asset Value, as Practical Expedient: |  |  |  |  |  |  |
Real Estate Investments Measured at Net Asset Value* | 275 |  |  |  |  |  |  |
Total Plan Assets | $ | 3,165 |  |  |  |  |  |  |
Non-U.S. Pension |  |  |  |  |  |  |
Cash and Cash Equivalents | $ | 55 |  |  | $ | 45 |  |  | $ | 10 |  |  | $ | — |
Equity Securities |  |  |  |  |  |  |
Large-Cap | 242 |  |  | 18 |  |  | 224 |  |  | — |
Mid-Cap | 2 |  |  | 2 |  |  | — |  |  | — |
International - Developed | 517 |  |  | 58 |  |  | 459 |  |  | — |
International - Emerging | 13 |  |  | — |  |  | 13 |  |  | — |
Fixed Income Securities |  |  |  |  |  |  |
Government | 618 |  |  | 74 |  |  | 544 |  |  | — |
Corporate/Other | 569 |  |  | 292 |  |  | 277 |  |  | — |
Hedge Fund | 112 |  |  | — |  |  | 112 |  |  | — |
Real Estate | 24 |  |  | 24 |  |  | — |  |  | — |
Total Investments in the Fair Value Hierarchy | 2,152 |  |  | $ | 513 |  |  | $ | 1,639 |  |  | $ | — |
Investments Measured at Net Asset Value, as Practical Expedient: |  |  |  |  |  |  |
Real Estate Investments Measured at Net Asset Value* | 29 |  |  |  |  |  |  |
Total Plan Assets | $ | 2,181 |  |  |  |  |  |  |
Postretirement |  |  |  |  |  |  |
Cash and Cash Equivalents | $ | 3 |  |  | $ | — |  |  | $ | 3 |  |  | $ | — |
Equity Securities |  |  |  |  |  |  |
Large-Cap | 28 |  |  | — |  |  | 28 |  |  | — |
Small-Cap | 9 |  |  | — |  |  | 9 |  |  | — |
International - Developed | 21 |  |  | — |  |  | 21 |  |  | — |
International - Emerging | 11 |  |  | — |  |  | 11 |  |  | — |
Fixed Income Securities |  |  |  |  |  |  |
Government | 21 |  |  | — |  |  | 21 |  |  | — |
Corporate/Other | 59 |  |  | — |  |  | 59 |  |  | — |
Commodities | 15 |  |  | — |  |  | 15 |  |  | — |
Real Estate | 10 |  |  | — |  |  | 10 |  |  | — |
Total Plan Assets | $ | 177 |  |  | $ | — |  |  | $ | 177 |  |  | $ | — |
| Fair Value Measurements Using:
Asset Category | Total as of September 30, 2016 |  | Quoted Prices in Active Markets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
U.S. Pension |  |  |  |  |  |  |
Cash and Cash Equivalents | $ | 38 |  |  | $ | 38 |  |  | $ | — |  |  | $ | — |
Equity Securities |  |  |  |  |  |  |
Large-Cap | 692 |  |  | 499 |  |  | 193 |  |  | — |
Small-Cap | 267 |  |  | 252 |  |  | 15 |  |  | — |
International - Developed | 655 |  |  | 566 |  |  | 89 |  |  | — |
Fixed Income Securities |  |  |  |  |  |  |
Government | 345 |  |  | 280 |  |  | 65 |  |  | — |
Corporate/Other | 950 |  |  | 633 |  |  | 317 |  |  | — |
Total Investments in the Fair Value Hierarchy | 2,947 |  |  | $ | 2,268 |  |  | $ | 679 |  |  | $ | — |
Investments Measured at Net Asset Value, as Practical Expedient: |  |  |  |  |  |  |  |
Real Estate Investments Measured at Net Asset Value* | 346 |  |  |  |  |  |  |
Total Plan Assets | $ | 3,293 |  |  |  |  |  |  |
Non-U.S. Pension |  |  |  |  |  |  |
Cash and Cash Equivalents | $ | 90 |  |  | $ | 59 |  |  | $ | 31 |  |  | $ | — |
Equity Securities |  |  |  |  |  |  |
Large-Cap | 317 |  |  | 22 |  |  | 295 |  |  | — |
International - Developed | 453 |  |  | 52 |  |  | 401 |  |  | — |
International - Emerging | 19 |  |  | — |  |  | 19 |  |  | — |
Fixed Income Securities |  |  |  |  |  |  |
Government | 864 |  |  | 164 |  |  | 700 |  |  | — |
Corporate/Other | 561 |  |  | 300 |  |  | 261 |  |  | — |
Hedge Fund | 169 |  |  | — |  |  | 169 |  |  | — |
Real Estate | 11 |  |  | 11 |  |  | — |  |  | — |
Total Investments in the Fair Value Hierarchy | 2,484 |  |  | $ | 608 |  |  | $ | 1,876 |  |  | $ | — |
Investments Measured at Net Asset Value, as Practical Expedient: |  |  |  |  |  |  |
Real Estate Investments Measured at Net Asset Value* | 52 |  |  |  |  |  |  |
Total Plan Assets | $ | 2,536 |  |  |  |  |  |  |
Postretirement |  |  |  |  |  |  |
Cash and Cash Equivalents | $ | 7 |  |  | $ | — |  |  | $ | 7 |  |  | $ | — |
Equity Securities |  |  |  |  |  |  |
Large-Cap | 31 |  |  | — |  |  | 31 |  |  | — |
Small-Cap | 10 |  |  | — |  |  | 10 |  |  | — |
International - Developed | 23 |  |  | — |  |  | 23 |  |  | — |
International - Emerging | 12 |  |  | — |  |  | 12 |  |  | — |
Fixed Income Securities |  |  |  |  |  |  |
Government | 23 |  |  | — |  |  | 23 |  |  | — |
Corporate/Other | 65 |  |  | — |  |  | 65 |  |  | — |
Commodities | 12 |  |  | — |  |  | 12 |  |  | — |
Real Estate | 13 |  |  | — |  |  | 13 |  |  | — |
Total Plan Assets | $ | 196 |  |  | $ | — |  |  | $ | 196 |  |  | $ | — |
Accumulated Benefit Obligations and Reconciliations of Changes in Projected Benefit Obligation, Changes in Plan Assets and Funded Status | The table that follows contains the ABO and reconciliations of the changes in the PBO, the changes in plan assets and the funded status (in millions):
| Pension Benefits |  | Postretirement Benefits
| U.S. Plans |  | Non-U.S. Plans |
September 30, | 2017 |  | 2016 |  | 2017 |  | 2016 |  | 2017 |  | 2016
Accumulated Benefit Obligation | $ | 3,382 |  |  | $ | 4,118 |  |  | $ | 2,618 |  |  | $ | 3,359 |  |  | $ | — |  |  | $ | — |
Change in Projected Benefit Obligation |  |  |  |  |  |  |  |  |  |  |
Projected benefit obligation at beginning of year | 4,169 |  |  | 3,022 |  |  | 3,522 |  |  | 1,447 |  |  | 242 |  |  | 211 |
Service cost | 18 |  |  | 16 |  |  | 32 |  |  | 30 |  |  | 2 |  |  | 2 |
Interest cost | 113 |  |  | 104 |  |  | 48 |  |  | 44 |  |  | 6 |  |  | 6 |
Plan participant contributions | — |  |  | — |  |  | 3 |  |  | 1 |  |  | 4 |  |  | 6 |
Benefit obligations assumed in Tyco acquisition | — |  |  | 974 |  |  | — |  |  | 1,635 |  |  | — |  |  | 30 |
Other acquisitions | — |  |  | — |  |  | — |  |  | 279 |  |  | — |  |  | 2 |
Adient spin-off impact | (18 | ) |  | — |  |  | (619 | ) |  | — |  |  | (17 | ) |  | — |
Actuarial (gain) loss | (131 | ) |  | 355 |  |  | (194 | ) |  | 295 |  |  | (1 | ) |  | 5 |
Benefits and settlements paid | (732 | ) |  | (301 | ) |  | (116 | ) |  | (116 | ) |  | (25 | ) |  | (22 | )
Estimated subsidy received | — |  |  | — |  |  | — |  |  | — |  |  | 2 |  |  | 1 |
Curtailment | — |  |  | — |  |  | (19 | ) |  | — |  |  | — |  |  | — |
Other | — |  |  | (1 | ) |  | (2 | ) |  | (1 | ) |  | — |  |  | 1 |
Currency translation adjustment | — |  |  | — |  |  | 66 |  |  | (92 | ) |  | 1 |  |  | — |
Projected benefit obligation at end of year | $ | 3,419 |  |  | $ | 4,169 |  |  | $ | 2,721 |  |  | $ | 3,522 |  |  | $ | 214 |  |  | $ | 242 |
Change in Plan Assets |  |  |  |  |  |  |  |  |  |  |
Fair value of plan assets at beginning of year | $ | 3,293 |  |  | $ | 2,606 |  |  | $ | 2,536 |  |  | $ | 1,177 |  |  | $ | 196 |  |  | $ | 194 |
Actual return on plan assets | 334 |  |  | 267 |  |  | 94 |  |  | 113 |  |  | 14 |  |  | 17 |
Plan assets acquired in Tyco acquisition | — |  |  | 705 |  |  | — |  |  | 1,149 |  |  | — |  |  | — |
Other acquisitions | — |  |  | — |  |  | — |  |  | 180 |  |  | — |  |  | — |
Adient spin-off impact | (16 | ) |  | — |  |  | (440 | ) |  | — |  |  | (13 | ) |  | — |
Employer and employee contributions | 286 |  |  | 16 |  |  | 59 |  |  | 121 |  |  | 5 |  |  | 7 |
Benefits paid | (394 | ) |  | (124 | ) |  | (86 | ) |  | (59 | ) |  | (25 | ) |  | (22 | )
Settlement payments | (338 | ) |  | (177 | ) |  | (30 | ) |  | (57 | ) |  | — |  |  | — |
Other | — |  |  | — |  |  | (2 | ) |  | — |  |  | — |  |  | — |
Currency translation adjustment | — |  |  | — |  |  | 50 |  |  | (88 | ) |  | — |  |  | — |
Fair value of plan assets at end of year | $ | 3,165 |  |  | $ | 3,293 |  |  | $ | 2,181 |  |  | $ | 2,536 |  |  | $ | 177 |  |  | $ | 196 |
Funded status | $ | (254 | ) |  | $ | (876 | ) |  | $ | (540 | ) |  | $ | (986 | ) |  | $ | (37 | ) |  | $ | (46 | )
Amounts recognized in the statement of financial position consist of:
Prepaid benefit cost - continuing operations | $ | 46 |  |  | $ | 21 |  |  | $ | 27 |  |  | $ | 25 |  |  | $ | 64 |  |  | $ | 53 |
Prepaid benefit cost - discontinued operations | — |  |  | 1 |  |  | — |  |  | 7 |  |  | — |  |  | — |
Accrued benefit liability - continuing operations | (300 | ) |  | (896 | ) |  | (567 | ) |  | (832 | ) |  | (101 | ) |  | (95 | )
Accrued benefit liability - discontinued operations | — |  |  | (2 | ) |  | — |  |  | (186 | ) |  | — |  |  | (4 | )
Net amount recognized | $ | (254 | ) |  | $ | (876 | ) |  | $ | (540 | ) |  | $ | (986 | ) |  | $ | (37 | ) |  | $ | (46 | )
Weighted Average Assumptions (1) |  |  |  |  |  |  |  |  |  |  |
Discount rate (2) | 3.80 | % |  | 3.70 | % |  | 2.40 | % |  | 1.90 | % |  | 3.70 | % |  | 3.30 | %
Rate of compensation increase | 3.20 | % |  | 3.20 | % |  | 2.90 | % |  | 2.75 | % |  | NA |  |  | NA |
(1) | Plan assets and obligations are determined based on a September 30 measurement date at September 30, 2017 and 2016.
(2) | The Company considers the expected benefit payments on a plan-by-plan basis when setting assumed discount rates. As a result, the Company uses different discount rates for each plan depending on the plan jurisdiction, the demographics of participants and the expected timing of benefit payments. For the U.S. pension and postretirement plans, the Company uses a discount rate provided by an independent third party calculated based on an appropriate mix of high quality bonds. For the non-U.S. pension and postretirement plans, the Company consistently uses the relevant country specific benchmark indices for determining the various discount rates. The Company has elected to utilize a full yield curve approach in the estimation of service and interest components of net periodic benefit cost (credit) for pension and other postretirement for plans that utilize a yield curve approach. The full yield curve approach applies the specific spot rates along the yield curve used in the determination of the benefit obligation to the relevant projected cash flows.
Components of Net Periodic Benefit Cost | The table that follows contains the components of net periodic benefit cost (in millions):
| Pension Benefits |  | Postretirement Benefits
| U.S. Plans |  | Non-U.S. Plans |
Year ended September 30, | 2017 |  | 2016 |  | 2015 |  | 2017 |  | 2016 |  | 2015 |  | 2017 |  | 2016 |  | 2015
Components of Net Periodic Benefit Cost (Credit): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service cost | $ | 18 |  |  | $ | 16 |  |  | $ | 31 |  |  | $ | 32 |  |  | $ | 30 |  |  | $ | 32 |  |  | $ | 2 |  |  | $ | 2 |  |  | $ | 3 |
Interest cost | 113 |  |  | 104 |  |  | 122 |  |  | 48 |  |  | 44 |  |  | 57 |  |  | 6 |  |  | 6 |  |  | 9 |
Expected return on plan assets | (229 | ) |  | (191 | ) |  | (181 | ) |  | (92 | ) |  | (61 | ) |  | (71 | ) |  | (10 | ) |  | (10 | ) |  | (12 | )
Net actuarial (gain) loss | (220 | ) |  | 268 |  |  | 387 |  |  | (195 | ) |  | 237 |  |  | 14 |  |  | (5 | ) |  | (2 | ) |  | 21 |
Amortization of prior service cost (credit) | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | (1 | ) |  | — |  |  | (1 | ) |  | (1 | )
Curtailment gain | — |  |  | — |  |  | — |  |  | (19 | ) |  | — |  |  | (15 | ) |  | — |  |  | — |  |  | — |
Settlement (gain) loss | (16 | ) |  | 11 |  |  | 1 |  |  | (1 | ) |  | 6 |  |  | — |  |  | — |  |  | — |  |  | — |
Net periodic benefit cost (credit) | (334 | ) |  | 208 |  |  | 360 |  |  | (227 | ) |  | 257 |  |  | 16 |  |  | (7 | ) |  | (5 | ) |  | 20 |
Net periodic benefit (cost) credit related to discontinued operations | — |  |  | (1 | ) |  | (1 | ) |  | — |  |  | (111 | ) |  | 1 |  |  | — |  |  | (1 | ) |  | (1 | )
Net periodic benefit cost (credit) included in continuing operations | $ | (334 | ) |  | $ | 207 |  |  | $ | 359 |  |  | $ | (227 | ) |  | $ | 146 |  |  | $ | 17 |  |  | $ | (7 | ) |  | $ | (6 | ) |  | $ | 19 |
Expense Assumptions: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Discount rate | 3.70 | % |  | 4.40 | % |  | 4.35 | % |  | 1.90 | % |  | 3.10 | % |  | 3.00 | % |  | 3.30 | % |  | 3.75 | % |  | 4.35 | %
Expected return on plan assets | 7.50 | % |  | 7.50 | % |  | 7.50 | % |  | 4.60 | % |  | 4.50 | % |  | 4.50 | % |  | 5.60 | % |  | 5.45 | % |  | 5.75 | %
Rate of compensation increase | 3.20 | % |  | 3.25 | % |  | 3.25 | % |  | 2.65 | % |  | 3.30 | % |  | 2.60 | % |  | NA |  |  | NA |  |  | NA |
Summary of Changes in Fair Value of Assets Measured Using Significant Unobservable Inputs (Level 3) |
Pension Benefits |
Defined Benefit Plan Disclosure [Line Items] |
Projected Benefit Payments from Plans | In fiscal 2017, total employer contributions to the defined benefit pension plans were $342 million, of which $49 million were voluntary contributions made by the Company. The Company expects to contribute approximately $100 million in cash to its defined benefit pension plans in fiscal 2018. Projected benefit payments from the plans as of September 30, 2017 are estimated as follows (in millions):
2018 | $ | 332 |
2019 | 329 |
2020 | 329 |
2021 | 330 |
2022 | 338 |
2023-2027 | 1,737 |
Postretirement Benefits |
Defined Benefit Plan Disclosure [Line Items] |
Projected Benefit Payments from Plans | In fiscal 2017, total employer contributions to the postretirement plans were $5 million. The Company expects to contribute approximately $5 million in cash to its postretirement plans in fiscal 2018. Projected benefit payments from the plans as of September 30, 2017 are estimated as follows (in millions):
2018 | $ | 19 |
2019 | 19 |
2020 | 19 |
2021 | 19 |
2022 | 18 |
2023-2027 | 76 |

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_DefinedBenefitPlanDisclosureLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e2439-114920 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e2417-114920 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e2410-114920 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=73719040&loc=d3e4179-114921 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfDefinedBenefitPlansDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the effect of fair value measurements using significant unobservable inputs (Level 3) on changes in plan assets of pension plans and/or other employee benefit plans for the period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(4) -URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfEffectOfSignificantUnobservableInputsChangesInPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis=us-gaap_PensionPlansDefinedBenefitMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis=us-gaap_OtherPostretirementBenefitPlansDefinedBenefitMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |