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Fair Value Measurements
 12 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
The following tables present the Company’s fair value hierarchy for those assets and liabilities measured at fair value (in millions):
 Fair Value Measurements Using:
 Total as of September 30, 2025Quoted Prices
in Active
Markets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Other current assets
Foreign currency exchange derivatives$14 $— $14 $— 
Commodity derivatives1 — 1 — 
Other noncurrent assets
Deferred compensation plan assets63 63 — — 
Exchange traded funds (fixed income)(1)
73 73 — — 
Exchange traded funds (equity)(1)
217 217 — — 
Total assets$368 $353 $15 $— 
Other current liabilities
Foreign currency exchange derivatives$23 $— $23 $— 
Commodity derivatives1 — 1 — 
Contingent earn-out liabilities19 — — 19 
Total liabilities$43 $— $24 $19 
 (1) Classified as restricted investments for payment of asbestos liabilities. Refer to Note 20, "Commitments and Contingencies," of the notes to consolidated financial statements for further details.
 Fair Value Measurements Using:
 Total as of September 30, 2024Quoted Prices
in Active
Markets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Other current assets
Foreign currency exchange derivatives$20 $— $20 $— 
Commodity derivatives
2 — 2 — 
Other noncurrent assets
Deferred compensation plan assets56 56 — — 
Exchange traded funds (fixed income)(1)
81 81 — — 
Exchange traded funds (equity)(1)
200 200 — — 
Total assets$359 $337 $22 $— 
Other current liabilities
Foreign currency exchange derivatives$25 $— $25 $— 
Commodity derivatives1 — 1 — 
Contingent earn-out liabilities14 — — 14 
Other noncurrent liabilities
Contingent earn-out liabilities14 — — 14 
Total liabilities$54 $— $26 $28 
 (1) Classified as restricted investments for payment of asbestos liabilities. Refer to Note 20, "Commitments and Contingencies," of the notes to consolidated financial statements for further details.

Valuation Methods

Commodity derivatives: The commodity derivatives are valued under a market approach using publicized prices, where available, or dealer quotes.

Contingent earn-out liabilities: The contingent earn-out liabilities are generally established using a Monte Carlo simulation based on the forecasted operating results and the earn-out formulas specified in the purchase agreements.

Deferred compensation plan assets: Assets held in the deferred compensation plans will be used to pay benefits under certain of the Company's non-qualified deferred compensation plans. The investments primarily consist of mutual funds which are publicly traded on stock exchanges and are valued using a market approach based on the quoted market prices. Unrealized gains (losses) on the deferred compensation plan assets are recognized in the consolidated statements of income where they offset unrealized gains and losses on the related deferred compensation plan liability.

Exchange traded funds: Investments in exchange traded funds are valued using a market approach based on quoted market prices, where available, or broker/dealer quotes of identical or comparable instruments. Refer to Note 20, "Commitments and Contingencies," of the notes to consolidated financial statements for further information.

Foreign currency exchange derivatives: The foreign currency exchange derivatives are valued under a market approach using publicized spot and forward prices.

The following table presents the portion of unrealized gains recognized in the consolidated statements of income that relate to equity securities still held at September 30, 2025 and 2024 (in millions):
Year Ended
September 30,
20252024
Deferred compensation plan assets$5 $10 
Investments in exchange traded funds29 58 
The fair values of cash and cash equivalents, accounts receivable, short-term debt and accounts payable approximate their carrying values.

The fair value of long-term debt at September 30, 2025 and 2024 was as follows (in billions):
September 30,
20252024
Public debt$8.4 $8.1 
Other long-term debt0.5 0.2 
Total fair value of long-term debt$8.9 $8.3 
The fair value of public debt was determined primarily using market quotes which are classified as Level 1 inputs within the ASC 820 fair value hierarchy. The fair value of other long-term debt was determined using quoted market prices for similar instruments and are classified as Level 2 inputs within the ASC 820 fair value hierarchy.