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Derivative Instruments and Hedging Activities (Tables) | 6 Months Ended
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Mar. 31, 2025
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
Commodity |  | March 31, 2025 |  | September 30, 2024
Copper |  | 2,313 |  |  | 2,676 |
Aluminum |  | 2,289 |  |  | 2,450 |
Schedule of Notional Amounts of Outstanding Derivative Positions | The following table summarizes net investment hedges (in billions):
|  | March 31, |  | September 30,
| 2025 |  | 2024
Euro-denominated bonds designated as net investment hedges in Europe |  | € | 2.9 |  |  | € | 2.9 |
Yen-denominated debt designated as a net investment hedge in Japan |  | ¥ | 30 |  |  | ¥ | 30 |
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):
| Derivatives and Hedging Activities Designated as Hedging Instruments |  | Derivatives and Hedging Activities Not Designated as Hedging Instruments
| March 31, |  | September 30, |  | March 31, |  | September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Other current assets |  |  |  |  |  |  |
Foreign currency exchange derivatives | $ | 22 |  |  | $ | 19 |  |  | $ | — |  |  | $ | 1 |
Commodity derivatives | 4 |  |  | 2 |  |  | — |  |  | — |
Total assets | $ | 26 |  |  | $ | 21 |  |  | $ | — |  |  | $ | 1 |
Other current liabilities |  |  |  |  |  |  |
Foreign currency exchange derivatives | $ | 10 |  |  | $ | 24 |  |  | $ | 26 |  |  | $ | 1 |
Commodity derivatives | — |  |  | 1 |  | — |  |  | — |
Long-term debt |  |  |  |  |  |  |
Foreign currency denominated debt | 3,342 |  |  | 3,424 |  |  | — |  |  | — |
Total liabilities | $ | 3,352 |  |  | $ | 3,449 |  |  | $ | 26 |  |  | $ | 1 |
Offsetting Assets and Liabilities | The gross and net amounts of derivative assets and liabilities were as follows (in millions):
|  | Fair Value of Assets |  |  |  | Fair Value of Liabilities |  |
|  | March 31, |  | September 30, |  |  |  | March 31, |  | September 30, |  |
|  | 2025 |  | 2024 |  |  |  | 2025 |  | 2024 |  |
Gross amount recognized |  | $ | 26 |  |  | $ | 22 |  |  |  |  | $ | 3,378 |  |  | $ | 3,450 |  |  |
Gross amount eligible for offsetting |  | (8) |  |  | (12) |  |  |  |  | (8) |  |  | (12) |  |  |
Net amount |  | $ | 18 |  |  | $ | 10 |  |  |  |  | $ | 3,370 |  |  | $ | 3,438 |  |  |
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 Relationships |  | Three Months Ended March 31, |  | Six Months Ended March 31,
| 2025 |  | 2024 |  | 2025 |  | 2024
Foreign currency exchange derivatives |  | $ | (2) |  |  | $ | 15 |  |  | $ | 15 |  |  | $ | 2 |
Commodity derivatives |  | 6 |  |  | — |  |  | 3 |  |  | 1 |
Interest rate swaps |  | — |  |  | 14 |  |  | — |  |  | (21) |
Total |  | $ | 4 |  |  | $ | 29 |  |  | $ | 18 |  |  | $ | (18) |
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 |  | Three Months Ended March 31, |  | Six Months Ended March 31,
| 2025 |  | 2024 |  | 2025 |  | 2024
Foreign currency exchange derivatives |  | Cost of sales |  | $ | 2 |  |  | $ | (2) |  |  | $ | 3 |  |  | $ | (3) |
Commodity derivatives |  | Cost of sales |  | (1) |  |  | (1) |  |  | (1) |  |  | (4) |
Total |  |  |  | $ | 1 |  |  | $ | (3) |  |  | $ | 2 |  |  | $ | (7) |
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 Instruments |  | Location of Gain (Loss) Recognized in Income on Derivative |  | Three Months Ended March 31, |  | Six Months Ended March 31,
| 2025 |  | 2024 |  | 2025 |  | 2024
Foreign currency exchange derivatives |  | Cost of sales |  | $ | (1) |  |  | $ | 2 |  |  | $ | (8) |  |  | $ | (3) |
Foreign currency exchange derivatives |  | SG&A |  | (1) |  |  | (1) |  |  | (2) |  |  | (1) |
Foreign currency exchange derivatives |  | Net financing charges |  | 60 |  |  | 59 |  |  | (84) |  |  | 16 |
Total |  |  |  | $ | 58 |  |  | $ | 60 |  |  | $ | (94) |  |  | $ | 12 |
Pre-tax Gains (Losses) on Net Investment Hedges Recorded as Foreign CTA in OCI | The following table presents pre-tax gains on net investment hedges recorded as foreign currency translation adjustments ("CTA") within other comprehensive income (loss) (in millions):
| Three Months Ended March 31, |  | Six Months Ended March 31,
2025 |  | 2024 |  | 2025 |  | 2024
Net investment hedges | $ | (131) |  |  | $ | 98 |  |  | $ | 107 |  |  | $ | (47) |

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