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Derivative Instruments and Hedging Activities (Tables) | 3 Months Ended
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Dec. 31, 2017
Derivative Instruments [Line Items] |
Outstanding Commodity Hedge Contracts | The Company had the following outstanding contracts to hedge forecasted commodity purchases:
|  |  |  | Volume Outstanding as of
Commodity |  | Units |  | December 31, 2017 |  | September 30, 2017
Copper |  | Metric Tons |  | 3,765 |  |  | 1,962 |
Polypropylene |  | Metric Tons |  | 21,762 |  |  | 19,563 |
Lead |  | Metric Tons |  | 13,791 |  |  | 24,705 |
Aluminum |  | Metric Tons |  | 5,295 |  |  | 2,169 |
Tin |  | Metric Tons |  | 1,655 |  |  | 1,715 |
Location and Fair Values of Derivative Instruments and Hedging Activities | The following table presents the location and fair values of derivative instruments and hedging activities included in the Company’s consolidated statements of financial position (in millions):
| Derivatives and Hedging Activities Designated as Hedging Instruments under ASC 815 |  | Derivatives and Hedging Activities Not Designated as Hedging Instruments under ASC 815
| December 31, |  | September 30, |  | December 31, |  | September 30,
| 2017 |  | 2017 |  | 2017 |  | 2017
Other current assets |  |  |  |  |  |  |
Foreign currency exchange derivatives | $ | 35 |  |  | $ | 27 |  |  | $ | 21 |  |  | $ | — |
Commodity derivatives | 6 |  |  | 9 |  |  | — |  |  | — |
Other noncurrent assets |  |  |  |  |  |  |
Equity swap | — |  |  | — |  |  | 68 |  |  | 55 |
Total assets | $ | 41 |  |  | $ | 36 |  |  | $ | 89 |  |  | $ | 55 |
Other current liabilities |  |  |  |  |  |  |
Foreign currency exchange derivatives | $ | 25 |  |  | $ | 21 |  |  | $ | 16 |  |  | $ | 25 |
Commodity derivatives | 1 |  |  | 1 |  |  | — |  |  | — |
Long-term debt |  |  |  |  |  |  |
Foreign currency denominated debt | 2,981 |  |  | 2,058 |  |  | — |  |  | — |
Total liabilities | $ | 3,007 |  |  | $ | 2,080 |  |  | $ | 16 |  |  | $ | 25 |
Offsetting Assets and Liabilities | The gross and net amounts of derivative assets and liabilities were as follows (in millions):
| Fair Value of Assets |  | Fair Value of Liabilities
| December 31, |  | September 30, |  | December 31, |  | September 30,
| 2017 |  | 2017 |  | 2017 |  | 2017
Gross amount recognized | $ | 130 |  |  | $ | 91 |  |  | $ | 3,023 |  |  | $ | 2,105 |
Gross amount eligible for offsetting | (27 | ) |  | (16 | ) |  | (27 | ) |  | (16 | )
Net amount | $ | 103 |  |  | $ | 75 |  |  | $ | 2,996 |  |  | $ | 2,089 |
Location and Amount of Gains and Losses Gross of Tax on Derivative Instruments and Related Hedge Items | The following table presents the effective portion of pre-tax gains (losses) recorded in other comprehensive income (loss) related to cash flow hedges for the three months ended December 31, 2017 and 2016 (in millions):
Derivatives in ASC 815 Cash Flow Hedging Relationships |  | Three Months Ended December 31,
| 2017 |  | 2016
Foreign currency exchange derivatives |  | $ | 6 |  |  | $ | 8 |
Commodity derivatives |  | 3 |  |  | 2 |
Total |  | $ | 9 |  |  | $ | 10 |
The following tables present the location and amount of the effective portion of pre-tax gains (losses) on cash flow hedges reclassified from AOCI into the Company’s consolidated statements of income for the three months ended December 31, 2017 and 2016 (in millions):
Derivatives in ASC 815 Cash Flow Hedging Relationships |  | Location of Gain (Loss) Reclassified from AOCI into Income |  | Three Months Ended December 31,
| 2017 |  | 2016
Foreign currency exchange derivatives |  | Cost of sales |  | $ | 2 |  |  | $ | 8 |
Commodity derivatives |  | Cost of sales |  | 5 |  |  | 1 |
Total |  |  |  | $ | 7 |  |  | $ | 9 |
The following table presents the location and amount of pre-tax gains (losses) on fair value hedges recognized in the Company’s consolidated statements of income for the three months ended December 31, 2017 and 2016 (in millions):
Derivatives in ASC 815 Fair Value Hedging Relationships |  | Location of Gain (Loss) Recognized in Income on Derivative |  | Three Months Ended December 31,
| 2017 |  | 2016
Interest rate swap |  | Net financing charges |  | $ | — |  |  | $ | (1 | )
Fixed rate debt swapped to floating |  | Net financing charges |  | — |  |  | 2 |
Total |  |  |  | $ | — |  |  | $ | 1 |
The following table presents the location and amount of pre-tax gains (losses) on derivatives not designated as hedging instruments recognized in the Company’s consolidated statements of income for the three months ended December 31, 2017 and 2016 (in millions):
|  |  |  | Amount of Gain (Loss) Recognized in Income on Derivative
Derivatives Not Designated as Hedging Instruments under ASC 815 |  | Location of Gain (Loss) Recognized in Income on Derivative |  | Three Months Ended December 31,
| 2017 |  | 2016
Foreign currency exchange derivatives |  | Cost of sales |  | $ | 2 |  |  | $ | 1 |
Foreign currency exchange derivatives |  | Net financing charges |  | 4 |  |  | 4 |
Foreign currency exchange derivatives |  | Income tax provision |  | 2 |  |  | (3 | )
Foreign currency exchange derivatives |  | Income (loss) from discontinued operations |  | — |  |  | 5 |
Equity swap |  | Selling, general and administrative |  | (2 | ) |  | — |
Total |  |  |  | $ | 6 |  |  | $ | 7 |

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