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Debt and Financing Arrangements

3 Months Ended

Dec. 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 months ended December 31, 2020 and 2019 contained the following components (in millions):

			Three Months Ended December 31,
			2020						2019
Interest expense, net of capitalized interest costs			$	59					$	62
Banking fees and bond cost amortization			8						5
Interest income			(3)						(13)
Net foreign exchange results for financing activities			(5)						(2)
Net financing charges			$	59					$	52

As of December 31, 2020, the Company had 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 was renewed in December 2020 and is now scheduled to expire in December 2021. As of December 31, 2020, there were no draws on the facilities.

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- References

No definition available.

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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

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