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Assets and Liabilities Held For Sale & Discontinued Operations | 12 Months Ended
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Sep. 30, 2022
Discontinued Operations and Disposal Groups [Abstract] |
Assets and Liabilities Held For Sale & Discontinued Operations | ASSETS AND LIABILITIES HELD FOR SALE & DISCONTINUED OPERATIONS Assets and Liabilities Held for Sale During fiscal 2022, the Company determined that its Global Retail business within its Building Solutions North America, Building Solutions Asia Pacific and Building Solutions EMEA/LA segments and a business within the Building Solutions Asia Pacific segment both met the criteria to be classified as held for sale. The assets and liabilities of both businesses are presented as held for sale in the consolidated statements of financial position as of September 30, 2022. Assets and liabilities held for sale are recorded at the lower of carrying value or fair value, less costs to sell in accordance with ASC 360-10-15, "Impairment or Disposal of Long-Lived Assets". The carrying amount of any assets, including goodwill, that are part of the disposal group, but not in the scope of ASC 360-10, are tested for impairment under the relevant guidance prior to measuring the disposal group at fair value, less cost to sell. As a result of classifying the Global Retail business as held for sale, during the year ended September 30, 2022, the Company recorded impairment charges of $235 million to write down goodwill related to its North America Retail reporting unit and $86 million to write down the disposal group to its estimated fair value, less costs to sell. The Company also fully impaired $38 million of internal-use software projects that were no longer probable of being completed. Refer to Note 8, "Goodwill and Other Intangible Assets," of the notes to the consolidated financial statements for further information regarding the goodwill impairment charge. An additional $60 million was recorded in the year ended September 30, 2022 to write down the business classified as held for sale in the Building Solutions Asia Pacific segment to its estimated fair value, less costs to sell. All of the impairments were recorded within restructuring and impairment costs in the consolidated statements of income. The divestiture of the businesses held for sale could result in a gain or loss on sale to the extent the ultimate selling prices differ from the current carrying value of the net assets recorded, which could be material. The businesses did not meet the criteria to be classified as discontinued operations as neither divestiture represents a strategic shift that will have a major effect on the Company's operations and financial results. The following table summarizes the carrying value of the Global Retail assets and liabilities held for sale (in millions):
|  |  | September 30, 2022
Accounts receivable - net |  |  | $ | 199 |
Inventories |  |  | 155 |
Other current assets |  |  | 21 |
Current assets held for sale |  |  | $ | 375 |
Property, plant and equipment - net |  |  | $ | 89 |
Goodwill |  |  | 22 |
Other intangible assets - net |  |  | 514 |
Other noncurrent assets |  |  | 72 |
Noncurrent assets held for sale |  |  | $ | 697 |
Accounts payable |  |  | $ | 127 |
Accrued compensation and benefits |  |  | 25 |
Deferred revenue |  |  | 36 |
Other current liabilities |  |  | 33 |
Current liabilities held for sale |  |  | $ | 221 |
Other noncurrent liabilities |  |  | $ | 61 |
Noncurrent liabilities held for sale |  |  | $ | 61 |
During the third quarter of fiscal 2020, the Company determined that certain assets of the Building Solutions Asia Pacific segment met the criteria to be classified as held for sale. During the fourth quarter of fiscal 2022, the Company determined that these assets no longer met the criteria to be classified as held for sale as the Company can no longer assert that the sale of the assets is probable within a year due to the real estate market downturn in China that has worsened in the period after the COVID-19 lockdowns. As a result, the Company reclassified the held for sale assets to held and used as of September 30, 2022. Upon reclassification, an impairment of $45 million was recorded within restructuring and impairment costs in the consolidated statements of income to adjust the asset to the lower of its carrying value adjusted for depreciation and the fair value of the asset as of September 30, 2022. Discontinued Operations The Company completed the sale of its Power Solutions business on April 30, 2019. In December 2020, the favorable resolution of certain post-closing working capital and net debt adjustments resulted in income from discontinued operations of $124 million, net of tax of $26 million, due to a reversal of a reserve established in connection with the sale. There was no Power Solutions related activity in fiscal 2022 and 2020.

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=2122178 + Details
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