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Fair Value Measurements (Tables) | 3 Months Ended
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Dec. 31, 2021
Fair Value Disclosures [Abstract] |
Assets and Liabilities Measured at Fair Value | The following tables present the Company’s fair value hierarchy for those assets and liabilities measured at fair value as of December 31, 2021 and September 30, 2021 (in millions):
| Fair Value Measurements Using:
| Total as of December 31, 2021 |  | Quoted Prices in Active Markets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Other current assets |  |  |  |  |  |  |
Foreign currency exchange derivatives | $ | 44 |  |  | $ | — |  |  | $ | 44 |  |  | $ | — |
Commodity derivatives | 3 |  |  | — |  |  | 3 |  |  | — |
Other noncurrent assets |  |  |  |  |  |  |
Deferred compensation plan assets | 67 |  |  | 67 |  |  | — |  |  | — |
Exchange traded funds (fixed income)1 | 140 |  |  | 140 |  |  | — |  |  | — |
Exchange traded funds (equity)1 | 183 |  |  | 183 |  |  | — |  |  | — |
Equity swap | 28 |  |  | — |  |  | 28 |  |  | — |
Total assets | $ | 465 |  |  | $ | 390 |  |  | $ | 75 |  |  | $ | — |
Other current liabilities |  |  |  |  |  |  |
Foreign currency exchange derivatives | $ | 25 |  |  | $ | — |  |  | $ | 25 |  |  | $ | — |
Commodity derivatives | 1 |  |  | — |  |  | 1 |  |  | — |
Contingent earn-out liabilities | 48 |  |  | — |  |  | — |  |  | 48 |
Other noncurrent liabilities |  |  |  |  |  |  |
Contingent earn-out liabilities | 55 |  |  | — |  |  | — |  |  | 55 |
Total liabilities | $ | 129 |  |  | $ | — |  |  | $ | 26 |  |  | $ | 103 |
The increases in the contingent earn-out liabilities during the three-month period ended December 31, 2021 were due to acquisitions.
| Fair Value Measurements Using:
| Total as of September 30, 2021 |  | Quoted Prices in Active Markets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Other current assets |  |  |  |  |  |  |
Foreign currency exchange derivatives | $ | 32 |  |  | $ | — |  |  | $ | 32 |  |  | $ | — |
Commodity derivatives | 2 |  |  | — |  |  | 2 |  |  | — |
Other noncurrent assets |  |  |  |  |  |  |
Deferred compensation plan assets | 63 |  |  | 63 |  |  | — |  |  | — |
Exchange traded funds (fixed income)1 | 146 |  |  | 146 |  |  | — |  |  | — |
Exchange traded funds (equity)1 | 168 |  |  | 168 |  |  | — |  |  | — |
Equity swap | 23 |  |  | — |  |  | 23 |  |  | — |
Total assets | $ | 434 |  |  | $ | 377 |  |  | $ | 57 |  |  | $ | — |
Other current liabilities |  |  |  |  |  |  |
Foreign currency exchange derivatives | $ | 17 |  |  | $ | — |  |  | $ | 17 |  |  | $ | — |
Commodity derivatives | 1 |  |  | — |  |  | 1 |  |  | — |
Contingent earn-out liabilities | 32 |  |  | — |  |  | — |  |  | $ | 32 |
Other noncurrent liabilities |  |  |  |  |  |  |
Contingent earn-out liabilities | 50 |  |  | — |  |  | — |  |  | 50 |
Total liabilities | $ | 100 |  |  | $ | — |  |  | $ | 18 |  |  | $ | 82 |
1 Classified as restricted investments for payment of asbestos liabilities. See Note 22, "Commitments and Contingencies," of the notes to consolidated financial statements for further details.
Debt Securities, Trading, and Equity Securities, FV-NI | The following table presents the portion of unrealized gains recognized in the consolidated statements of income for the three months ended December 31, 2021 and 2020 that relate to equity securities still held at December 31, 2021 and 2020 (in millions):
|  | Three Months Ended December 31, |  |
| 2021 |  | 2020 |  |  |  |
Deferred compensation plan assets |  | $ | 3 |  |  | $ | 5 |  |  |  |  |
Investments in exchange traded funds |  | 14 |  |  | 21 |  |  |  |  |

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in net income (trading) and investment in equity security measured at fair value with change in fair value recognized in net income (FV-NI). + References No definition available. + Details
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