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Debt and Financing Arrangements | 6 Months Ended
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Mar. 31, 2020
Debt Disclosure [Abstract] |
Debt and Financing Arrangements | Debt and Financing Arrangements Net Financing Charges The Company's net financing charges line item in the consolidated statements of income for the three and six months ended March 31, 2020 and 2019 contained the following components (in millions):
| Three Months Ended March 31, |  | Six Months Ended March 31,
| 2020 |  | 2019 |  | 2020 |  | 2019
Interest expense, net of capitalized interest costs | $ | 62 |  |  | $ | 97 |  |  | $ | 124 |  |  | $ | 188 |
Banking fees and bond cost amortization | 5 |  |  | 7 |  |  | 10 |  |  | 13 |
Interest income | (5 | ) |  | (6 | ) |  | (18 | ) |  | (13 | )
Net foreign exchange results for financing activities | (3 | ) |  | — |  |  | (5 | ) |  | (5 | )
Net financing charges | $ | 59 |  |  | $ | 98 |  |  | $ | 111 |  |  | $ | 183 |
In April 2020, the Company entered into various European financing arrangements totaling $675 million which are due in September 2020 and $575 million of bank term loans which are due in April 2021. In March 2020, the Company retired $500 million in principal amount, plus accrued interest, of its 5.0% fixed rate notes that expired in March 2020. In December 2019, the Company entered into a syndicated $2.5 billion committed revolving credit facility, which is scheduled to expire in December 2024, and a syndicated $500 million committed revolving credit facility, which is scheduled to expire in December 2020. As of March 31, 2020, there were no draws on the facilities. In December 2019, the Company terminated its syndicated 5-year $2 billion committed revolving credit facility and four 364-day revolving credit facilities with total committed capacity of $750 million.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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