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Assets and Liabilities Held for Sale | 6 Months Ended
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Mar. 31, 2023
Discontinued Operations and Disposal Groups [Abstract] |
Assets and Liabilities Held for Sale | 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 March 31, 2023 and 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. During the three and six months ended March 31, 2023, the Company recorded impairment charges for the Global Retail business of $210 million and $438 million, respectively. During the three and six months ended March 31, 2023, the Company recorded impairment charges for a business in the Building Solutions Asia Pacific segment of $0 and $60 million, respectively. The impairment charges were primarily due to reductions in the estimated fair values of the businesses to be disposed as a result of ongoing negotiations with potential buyers and 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. Both divestitures are expected to be finalized in fiscal 2023. The following table summarizes the carrying value of the Global Retail assets and liabilities held for sale (in millions):
|  |  | March 31, 2023 |  | September 30, 2022
Accounts receivable - net |  |  | $ | 242 |  |  | $ | 199 |
Inventories |  |  | 160 |  |  | 155 |
Other current assets |  |  | 30 |  |  | 21 |
Current assets held for sale |  |  | $ | 432 |  |  | $ | 375 |
Property, plant and equipment - net |  |  | $ | 114 |  |  | $ | 89 |
Goodwill |  |  | — |  |  | 22 |
Other intangible assets - net |  |  | 190 |  |  | 514 |
Other noncurrent assets |  |  | 71 |  |  | 72 |
Noncurrent assets held for sale |  |  | $ | 375 |  |  | $ | 697 |
Accounts payable |  |  | $ | 126 |  |  | $ | 127 |
Accrued compensation and benefits |  |  | 16 |  |  | 25 |
Deferred revenue |  |  | 47 |  |  | 36 |
Other current liabilities |  |  | 116 |  |  | 33 |
Current liabilities held for sale |  |  | $ | 305 |  |  | $ | 221 |
Other noncurrent liabilities |  |  | $ | 58 |  |  | $ | 61 |
Noncurrent liabilities held for sale |  |  | $ | 58 |  |  | $ | 61 |

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- References No definition available. + Details
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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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