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Derivative Instruments and Hedging Activities (Tables)
 12 Months Ended
Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Outstanding Commodity Hedge Contracts
The Company had the following outstanding contracts to hedge forecasted commodity purchases (in metric tons):
 Volume Outstanding as of September 30,
Commodity20222021
Copper3,629 2,656 
Aluminum6,758 5,159 
Schedule of Interest Rate Derivatives The following table summarizes forward-starting interest rate swaps and the related anticipated note issuances (in millions):
Year Ended September 30,
20222021
US dollar denominated
Forward-starting interest swaps$300 $500 
Anticipated note issuance400 500 
Euro denominated
Forward-starting interest swap€200 — 
Anticipated note issuance600 — 
Schedule of Notional Amounts of Outstanding Derivative Positions
The following table summarizes net investment hedges (in billions):
September 30,
20222021
Euro-denominated bonds designated as net investment hedges in Europe€2.9 €2.3 
Yen-denominated debt designated as a net investment hedge in Japan¥30 ¥25 
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):
 Designated 
as Hedging Instruments		Not Designated
as Hedging Instruments
 September 30, 2022September 30, 2021September 30, 2022September 30, 2021
Other current assets
Foreign currency exchange derivatives$30 $15 $24 $17 
Commodity derivatives— 2 — — 
Other noncurrent assets
Equity swap— — — 23 
Total assets$30 $17 $24 $40 
Other current liabilities
Foreign currency exchange derivatives$24 $11 $27 $6 
Commodity derivatives10 1 — — 
Long-term debt
Foreign currency denominated debt3,077 2,918 — — 
Total liabilities$3,111 $2,930 $27 $6 
Derivative Assets and Liabilities, Eligible for Offsetting
The gross and net amounts of derivative assets and liabilities were as follows (in millions):
 Fair Value of AssetsFair Value of Liabilities
 September 30, 2022September 30, 2021September 30, 2022September 30, 2021
Gross amount recognized$54 $57 $3,138 $2,936 
Gross amount eligible for offsetting(42)(16)(42)(16)
Net amount$12 $41 $3,096 $2,920 
Location and Amount of Gains and Losses Gross of Tax on Derivative Instruments and Related Hedge Items
The following table presents the pre-tax gains (losses) recorded in other comprehensive income (loss) related to cash flow hedges (in millions):
Derivatives in Cash Flow Hedging RelationshipsYear Ended September 30,
202220212020
Foreign currency exchange derivatives$26 $15 $1 
Commodity derivatives(21)4 6 
Interest rate swaps16 (21)— 
Total$21 $(2)$7 
The following table presents the location and amount of the pre-tax gains (losses) on cash flow hedges reclassified from AOCI into the Company’s consolidated statements of income (in millions):
Derivatives in Cash Flow
Hedging Relationships		Location of Gain (Loss)
Reclassified from AOCI into Income		Year Ended September 30,
202220212020
Foreign currency exchange derivativesCost of sales$25 $11 $(5)
Commodity derivativesCost of sales(7)3 2 
Interest rate swapsNet financing charges(2)— — 
Total$16 $14 $(3)

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 (in millions):
Derivatives Not Designated as Hedging InstrumentsLocation of Gain (Loss)
Recognized in Income on Derivative		Year Ended September 30,
202220212020
Foreign currency exchange derivativesCost of sales$10 $(6)$(1)
Foreign currency exchange derivativesNet financing charges85 174 87 
Foreign currency exchange derivativesSelling, general and administrative— (2)— 
Foreign currency exchange derivativesIncome tax provision— (1)— 
Equity swapSelling, general and administrative(5)28 (4)
Total$90 $193 $82