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v3.23.3

Debt and Financing Arrangements (Tables) | 12 Months Ended
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Sep. 30, 2023
Debt Disclosure [Abstract] |
Short-Term Debt | Short-term debt consisted of the following (in millions):
| September 30,
| 2023 |  | 2022
Bank borrowings | $ | 26 |  |  | $ | 10 |
Commercial paper | 200 |  |  | 172 |
Term loans | 159 |  |  | 487 |
| $ | 385 |  |  | $ | 669 |
Weighted average interest rate on short-term debt outstanding | 5.1 | % |  | 0.5 | %
Long-Term Debt | Long-term debt consisted of the following (in millions; due dates by fiscal year):
|  |  |  | Carrying Value
Issuer | Interest Rate | Due Date | Par Value | September 30, 2023 | September 30, 2022
JCI plc | 4.625% | 2023 | $ | 25 |  | $ | — |  | $ | 25 |
TIFSA 1 | 4.625% | 2023 | $ | 7 |  | — |  | 7 |
JCI plc | 1.00% | 2023 | € | 846 |  | — |  | 830 |
JCI plc | 3.625% | 2024 | $ | 453 |  | 453 | 453 |
JCI Inc. | 3.625% | 2024 | $ | 31 |  | 31 | 31 |
JCI plc | EURIBOR plus 0.70% | 2024 | € | 150 |  | 159 |  | — |
JCI plc | 1.375% | 2025 | € | 423 |  | 450 | 419 |
TIFSA 1 | 1.375% | 2025 | € | 54 |  | 57 | 53 |
JCI plc | 3.90% | 2026 | $ | 487 |  | 499 | 505 |
TIFSA 1 | 3.90% | 2026 | $ | 51 |  | 50 | 51 |
JCI plc | TORF plus 0.40% | 2027 | ¥ | 30,000 |  | 202 | 208 |
JCI plc and TFSCA 2 | 0.375% | 2027 | € | 500 |  | 528 | 488 |
JCI plc and TFSCA 2 | 3.00% | 2028 | € | 600 |  | 634 | 586 |
JCI plc and TFSCA 2 | 1.75% | 2030 | $ | 625 |  | 624 | 623 |
JCI plc and TFSCA 2 | 2.00% | 2031 | $ | 500 |  | 497 | 496 |
JCI plc and TFSCA 2 | 1.00% | 2032 | € | 500 |  | 529 | 489 |
JCI plc and TFSCA 2 | 4.90% | 2032 | $ | 400 |  | 394 | 394 |
JCI plc and TFSCA 2 | 4.25% | 2035 | € | 800 |  | 839 | — |
JCI plc | 6.00% | 2036 | $ | 342 |  | 339 | 339 |
JCI Inc. | 6.00% | 2036 | $ | 8 |  | 8 | 8 |
JCI plc | 5.70% | 2041 | $ | 190 |  | 189 | 189 |
JCI Inc. | 5.70% | 2041 | $ | 30 |  | 30 | 30 |
JCI plc | 5.25% | 2042 | $ | 155 |  | 155 | 155 |
JCI Inc. | 5.25% | 2042 | $ | 6 |  | 6 | 6 |
JCI plc | 4.625% | 2044 | $ | 444 |  | 442 | 441 |
JCI Inc. | 4.625% | 2044 | $ | 6 |  | 6 | 6 |
JCI plc | 5.125% | 2045 | $ | 477 |  | 431 | 557 |
TIFSA 1 | 5.125% | 2045 | $ | 23 |  | 23 | 23 |
JCI plc | 6.95% | 2046 | $ | 32 |  | 32 | 32 |
JCI Inc. | 6.95% | 2046 | $ | 4 |  | 4 | 4 |
JCI plc | 4.50% | 2047 | $ | 500 |  | 496 | 496 |
JCI plc | 4.95% | 2064 | $ | 341 |  | 340 | 340 |
JCI Inc. | 4.95% | 2064 | $ | 15 |  | 15 | 15 |
Other |  |  |  | 36 |  | 25 |
Gross long-term debt |  |  |  | 8,498 |  | 8,324 |
Less: current portion |  |  |  | 645 |  | 865 |
Less: debt issuance costs |  |  |  | 35 |  | 33 |
Long-term debt |  |  |  | $ | 7,818 |  | $ | 7,426 |
1 TIFSA = Tyco International Finance S.A. 2 TFSCA = Tyco Fire & Security Finance S.C.A.
Schedule of Maturities of Long-term Debt | The following table presents maturities of long-term debt as of September 30, 2023 (in millions):
2024 |  | $ | 646 |
2025 |  | 508 |
2026 |  | 550 |
2027 |  | 731 |
2028 |  | 634 |
After 2028 |  | 5,429 |
Total |  | $ | 8,498 |

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