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Fair Value Measurements (Tables) | 9 Months Ended
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Jun. 30, 2025
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 (in millions):
| Fair Value Measurements Using:
| Total as of June 30, 2025 |  | 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 | $ | 13 |  |  | $ | — |  |  | $ | 13 |  |  | $ | — |
Commodity derivatives | 3 |  |  | — |  |  | 3 |  |  | — |
Other noncurrent assets |  |  |  |  |  |  |
Deferred compensation plan assets | 59 |  |  | 59 |  |  | — |  |  | — |
Exchange traded funds (fixed income)(1) | 74 |  |  | 74 |  |  | — |  |  | — |
Exchange traded funds (equity)(1) | 204 |  |  | 204 |  |  | — |  |  | — |
Total assets | $ | 353 |  |  | $ | 337 |  |  | $ | 16 |  |  | $ | — |
Other current liabilities |  |  |  |  |  |  |
Foreign currency exchange derivatives | $ | 18 |  |  | $ | — |  |  | $ | 18 |  |  | $ | — |
Commodity derivatives | 1 |  |  | — |  |  | 1 |  |  | — |
Contingent earn-out liabilities | 25 |  |  | — |  |  | — |  |  | 25 |
Total liabilities | $ | 44 |  |  | $ | — |  |  | $ | 19 |  |  | $ | 25 |
(1) Classified as restricted investments for payment of asbestos liabilities. See Note 18, "Commitments and Contingencies," of the notes to the consolidated financial statements for further details.
| Fair Value Measurements Using:
| Total as of September 30, 2024 |  | 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 | $ | 20 |  |  | $ | — |  |  | $ | 20 |  |  | $ | — |
Commodity derivatives | 2 |  |  | — |  |  | 2 |  |  | — |
Other noncurrent assets |  |  |  |  |  |  |
Deferred compensation plan assets | 56 |  |  | 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 derivatives | 1 |  |  | — |  |  | 1 |  |  | — |
Contingent earn-out liabilities | 14 |  |  | — |  |  | — |  |  | 14 |
Other noncurrent liabilities |  |  |  |  |  |  |
Contingent earn-out liabilities | 14 |  |  | — |  |  | — |  |  | 14 |
Total liabilities | $ | 54 |  |  | $ | — |  |  | $ | 26 |  |  | $ | 28 |
(1) Classified as restricted investments for payment of asbestos liabilities. See Note 18, "Commitments and Contingencies," of the notes to the 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 that relate to equity securities still held at June 30, 2025 and 2024 (in millions):
|  | Three Months Ended June 30, |  | Nine Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Deferred compensation plan assets |  | $ | 4 |  |  | $ | — |  |  | $ | 2 |  |  | $ | 7 |
Investments in exchange traded funds |  | 20 |  |  | 4 |  |  | 12 |  |  | 43 |
Fair Value of Long-Term Debt | The fair value of long-term debt at June 30, 2025 and September 30, 2024 was as follows (in billions):
|  | June 30, |  | September 30,
| 2025 |  | 2024
Public debt |  | $ | 8.3 |  |  | $ | 8.1 |
Other long-term debt |  | 0.3 |  |  | 0.2 |
Total fair value of long-term debt |  | $ | 8.6 |  |  | $ | 8.3 |

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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/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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