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Financial Instruments (Tables) | 9 Months Ended
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Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Notional Amounts of Outstanding Derivative Instruments | The table below summarizes our outstanding currency price risk management instruments:
|  | 30 June 2025 |  | 30 September 2024
|  | US$ Notional |  | Years Average Maturity |  | US$ Notional |  | Years Average Maturity
Forward Exchange Contracts: |  |  |  |  |  |  |  |
Cash flow hedges |  | $3,110.7 |  |  | 0.6 |  | $4,003.2 |  |  | 0.6
Net investment hedges |  | 160.9 |  |  | 0.1 |  | 911.4 |  |  | 2.5
Not designated |  | 2,836.2 |  |  | 1.4 |  | 1,880.0 |  |  | 0.3
Total Forward Exchange Contracts |  | $6,107.8 |  |  | 1.0 |  | $6,794.6 |  |  | 0.8
The table below summarizes our outstanding interest rate management contracts and cross currency interest rate swaps:
|  | 30 June 2025 |  | 30 September 2024
|  | US$ Notional |  | Average Pay % |  | Average Receive % |  | Years Average Maturity |  | US$ Notional |  | Average Pay % |  | Average Receive % |  | Years Average Maturity
Interest rate swaps (fair value hedge) |  | $800.0 |  |  | SOFR |  | 1.64 | % |  | 2.2 |  | $800.0 |  |  | SOFR |  | 1.64 | % |  | 3.0
Interest rate swaps (cash flow hedge)(A) |  | $2,963.2 |  |  | 2.77 | % |  | SOFR |  | 20.5 |  | $2,159.3 |  |  | 2.72 | % |  | SOFR |  | 21.2
Interest rate swaps (not designated)(A) |  | $347.5 |  |  | 3.26 | % |  | SOFR |  | 19.2 |  | $461.4 |  |  | 3.27 | % |  | SOFR |  | 20.5
Cross currency interest rate swaps (net investment hedge) |  | $— |  |  | — | % |  | — | % |  | 0.0 |  | $16.7 |  |  | 5.39 | % |  | 3.64 | % |  | 0.2
Cross currency interest rate swaps (cash flow hedge) |  | $308.4 |  |  | 5.12 | % |  | 3.01 | % |  | 1.6 |  | $410.6 |  |  | 4.96 | % |  | 2.80 | % |  | 1.9
Cross currency interest rate swaps (not designated) |  | $— |  |  | — | % |  | — | % |  | 0.0 |  | $34.7 |  |  | 5.39 | % |  | 3.64 | % |  | 0.2
(A)In May 2023, NGHC entered into floating-to-fixed interest rate swaps designed to hedge long-term variable rate debt facilities available under non-recourse project financing during the construction period of the NEOM Green Hydrogen Project. During the third quarter of fiscal year 2024, we discontinued cash flow hedge accounting for certain instruments that will remain de-designated until outstanding borrowings from the available financing are commensurate with the notional value of the instruments.
Schedule of Cumulative Basis Adjustments for Fair Value Hedges | The table below provides the amounts recorded on the consolidated balance sheet related to cumulative basis adjustments for fair value hedges:
| Carrying amounts of hedged item |  | Cumulative hedging adjustment, included in carrying amount
| 30 June | 30 September |  | 30 June | 30 September
Balance Sheet Location | 2025 | 2024 |  | 2025 | 2024
Current portion of long-term debt | $547.9 |  | $— |  |  | ($2.0) |  | $— |
Long-term debt | $1,518.9 |  | $2,057.1 |  |  | ($26.3) |  | ($36.6) |
Schedule of Fair Value and Balance Sheet Location of Derivative Instruments | The table below summarizes the fair value and balance sheet location of our outstanding derivatives:
| Balance Sheet Location | 30 June | 30 September | Balance Sheet Location | 30 June | 30 September
| 2025 | 2024 | 2025 | 2024
Derivatives Designated as Hedging Instruments: |  |  |  |  |  |
Forward exchange contracts | Other receivables and current assets | $98.4 |  | $74.5 |  | Payables and accrued liabilities | $44.1 |  | $21.6 |
Interest rate management contracts | Other receivables and current assets | 6.8 |  | 1.2 |  | Payables and accrued liabilities | 2.0 |  | 1.2 |
Forward exchange contracts | Other noncurrent assets | 10.3 |  | 9.6 |  | Other noncurrent liabilities | 5.6 |  | 15.6 |
Interest rate management contracts | Other noncurrent assets | 154.8 |  | 34.3 |  | Other noncurrent liabilities | 27.4 |  | 40.2 |
Total Derivatives Designated as Hedging Instruments |  | $270.3 |  | $119.6 |  |  | $79.1 |  | $78.6 |
Derivatives Not Designated as Hedging Instruments: |  |  |  |  |  |
Forward exchange contracts | Other receivables and current assets | $22.6 |  | $16.5 |  | Payables and accrued liabilities | $25.1 |  | $21.8 |
Interest rate management contracts | Other receivables and current assets | — |  | 1.7 |  | Payables and accrued liabilities | — |  | — |
Forward exchange contracts | Other noncurrent assets | 8.8 |  | 0.2 |  | Other noncurrent liabilities | 35.9 |  | 0.2 |
Interest rate management contracts | Other noncurrent assets | 15.7 |  | 4.6 |  | Other noncurrent liabilities | — |  | — |
Total Derivatives Not Designated as Hedging Instruments |  | $47.1 |  | $23.0 |  |  | $61.0 |  | $22.0 |
Total Derivatives |  | $317.4 |  | $142.6 |  |  | $140.1 |  | $100.6 |
Schedule of Gains and Losses Recognized in Other Comprehensive Income Related Net Investment and Cash Flow Hedges | The tables below summarize gains (losses) recognized in other comprehensive income during the period related to our net investment and cash flow hedging relationships:
| Three Months Ended |  | Nine Months Ended
| 30 June |  | 30 June
| 2025 | 2024 |  | 2025 | 2024
Net Investment Hedging Relationships |  |  |  |  |
Forward exchange contracts | ($35.2) |  | $4.3 |  |  | ($1.3) |  | $4.1 |
Foreign currency debt | (276.9) |  | 14.8 |  |  | (248.9) |  | (26.9) |
Cross currency interest rate swaps | — |  | 0.4 |  |  | 0.4 |  | (0.7) |
Total Amount Recognized in OCI | (312.1) |  | 19.5 |  |  | (249.8) |  | (23.5) |
Tax effects | 75.3 |  | (4.8) |  |  | 59.9 |  | 5.7 |
Net Amount Recognized in OCI | ($236.8) |  | $14.7 |  |  | ($189.9) |  | ($17.8) |
| Three Months Ended |  | Nine Months Ended
| 30 June |  | 30 June
| 2025 | 2024 |  | 2025 | 2024
Derivatives in Cash Flow Hedging Relationships |  |  |  |  |
Forward exchange contracts | $80.3 |  | ($24.6) |  |  | ($54.1) |  | $27.0 |
Forward exchange contracts, excluded components | (1.8) |  | (6.1) |  |  | (8.1) |  | (18.5) |
Other(A) | (20.5) |  | 40.4 |  |  | 122.8 |  | (71.9) |
Total Amount Recognized in OCI | 58.0 |  | 9.7 |  |  | 60.6 |  | (63.4) |
Tax effects | (17.1) |  | 3.8 |  |  | 1.0 |  | (1.9) |
Net Amount Recognized in OCI | $40.9 |  | $13.5 |  |  | $61.6 |  | ($65.3) |
(A)Other primarily includes interest rate and cross currency interest rate swaps for which excluded components are recognized in “Payables and accrued liabilities” and “Other receivables and current assets” as a component of accrued interest payable and accrued interest receivable, respectively. These excluded components are recorded in “Other non-operating income (expense), net” over the life of the cross currency interest rate swap. Other also includes the recognition of our share of gains and losses, net of tax, related to interest rate swaps held by our equity affiliates.
Schedule of Amounts Recognized in Income Related to Cash Flow and Fair Value Hedges | The table below summarizes the location and amounts recognized in income related to our cash flow and fair value hedging relationships by contract type:
| Three Months Ended 30 June
| Sales |  | Cost of Sales |  |  |  | Interest Expense |  | Other Non-Operating Income (Expense), Net
| 2025 | 2024 |  | 2025 | 2024 |  |  |  |  | 2025 | 2024 |  | 2025 | 2024
Total presented in consolidated income statements that includes effects of hedging below | $3,022.7 |  | $2,985.5 |  |  | $2,040.1 |  | $2,005.6 |  |  |  |  |  | $61.4 |  | $55.7 |  |  | ($6.0) |  | ($1.3) |
(Gain) Loss Effects of Cash Flow Hedging: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Forward Exchange Contracts: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amount reclassified from OCI into income | ($0.1) |  | $0.2 |  |  | ($0.3) |  | ($0.3) |  |  |  |  |  | $— |  | $— |  |  | ($73.6) |  | $16.8 |
Amount excluded from effectiveness testing recognized in earnings based on amortization approach | — |  | — |  |  | — |  | — |  |  |  |  |  | — |  | — |  |  | 2.7 |  | 5.7 |
Other: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amount reclassified from OCI into income | — |  | — |  |  | — |  | — |  |  |  |  |  | (0.4) |  | 0.9 |  |  | 3.7 |  | (0.4) |
Amount reclassified from OCI into income due to de-designation | — |  | — |  |  | — |  | — |  |  |  |  |  | — |  | — |  |  | 0.2 |  | (2.3) |
Total (Gain) Loss Reclassified from OCI to Income | (0.1) |  | 0.2 |  |  | (0.3) |  | (0.3) |  |  |  |  |  | (0.4) |  | 0.9 |  |  | (67.0) |  | 19.8 |
Tax effects | — |  | — |  |  | 0.1 |  | 0.1 |  |  |  |  |  | — |  | (0.4) |  |  | 15.5 |  | (4.8) |
Net (Gain) Loss Reclassified from OCI to Income | ($0.1) |  | $0.2 |  |  | ($0.2) |  | ($0.2) |  |  |  |  |  | ($0.4) |  | $0.5 |  |  | ($51.5) |  | $15.0 |
(Gain) Loss Effects of Fair Value Hedging: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedged items | $— |  | $— |  |  | $— |  | $— |  |  |  |  |  | $8.0 |  | $2.1 |  |  | $— |  | $— |
Derivatives designated as hedging instruments | — |  | — |  |  | — |  | — |  |  |  |  |  | (8.0) |  | (2.1) |  |  | — |  | — |
Total (Gain) Loss Recognized in Income | $— |  | $— |  |  | $— |  | $— |  |  |  |  |  | $— |  | $— |  |  | $— |  | $— |
| Nine Months Ended 30 June
| Sales |  | Cost of Sales |  |  |  | Interest Expense |  | Other Non-Operating Income (Expense), Net
| 2025 | 2024 |  | 2025 | 2024 |  |  |  |  | 2025 | 2024 |  | 2025 | 2024
Total presented in consolidated income statements that includes effects of hedging below | $8,870.4 |  | $8,913.1 |  |  | $6,110.5 |  | $6,064.3 |  |  |  |  |  | $146.2 |  | $169.1 |  |  | $14.3 |  | ($25.3) |
(Gain) Loss Effects of Cash Flow Hedging: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Forward Exchange Contracts: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amount reclassified from OCI into income | $0.3 |  | $0.1 |  |  | $7.3 |  | $1.5 |  |  |  |  |  | $— |  | $— |  |  | $30.8 |  | ($9.8) |
Amount excluded from effectiveness testing recognized in earnings based on amortization approach | — |  | — |  |  | — |  | — |  |  |  |  |  | — |  | — |  |  | 13.1 |  | 16.7 |
Other: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amount reclassified from OCI into income | — |  | — |  |  | — |  | — |  |  |  |  |  | 0.1 |  | 3.3 |  |  | (9.2) |  | 1.5 |
Amount reclassified from OCI into income due to de-designation | — |  | — |  |  | — |  | — |  |  |  |  |  | — |  | — |  |  | 0.2 |  | (2.3) |
Total (Gain) Loss Reclassified from OCI to Income | 0.3 |  | 0.1 |  |  | 7.3 |  | 1.5 |  |  |  |  |  | 0.1 |  | 3.3 |  |  | 34.9 |  | 6.1 |
Tax effects | (0.1) |  | — |  |  | (1.5) |  | (0.3) |  |  |  |  |  | (0.2) |  | (1.3) |  |  | (8.1) |  | (1.3) |
Net (Gain) Loss Reclassified from OCI to Income | $0.2 |  | $0.1 |  |  | $5.8 |  | $1.2 |  |  |  |  |  | ($0.1) |  | $2.0 |  |  | $26.8 |  | $4.8 |
(Gain) Loss Effects of Fair Value Hedging: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedged items | $— |  | $— |  |  | $— |  | $— |  |  |  |  |  | $8.3 |  | $20.0 |  |  | $— |  | $— |
Derivatives designated as hedging instruments | — |  | — |  |  | — |  | — |  |  |  |  |  | (8.3) |  | (20.0) |  |  | — |  | — |
Total (Gain) Loss Recognized in Income | $— |  | $— |  |  | $— |  | $— |  |  |  |  |  | $— |  | $— |  |  | $— |  | $— |
Schedule of Effects of Derivatives Not Designated as a Hedging Instrument | The tables below summarize the location and amounts recognized in income related to our derivatives not designated as hedging instruments by contract type:
| Three Months Ended 30 June
| Other Income (Expense), Net |  | Other Non-Operating Income (Expense), Net
| 2025 |  | 2024 |  | 2025 |  | 2024
The Effects of Derivatives Not Designated as Hedging Instruments: |  |  |
Forward exchange contracts | $4.0 |  |  | ($1.6) |  |  | $— |  |  | ($0.5) |
De-designated interest rate swaps | — |  |  | — |  |  | 0.1 |  |  | (8.9) |
Other | — |  |  | — |  |  | — |  |  | (0.1) |
Total (Gain) Loss Recognized in Income | $4.0 |  |  | ($1.6) |  |  | $0.1 |  |  | ($9.5) |
| Nine Months Ended 30 June
| Other Income (Expense), Net |  | Other Non-Operating Income (Expense), Net
| 2025 |  | 2024 |  | 2025 |  | 2024
The Effects of Derivatives Not Designated as Hedging Instruments: |  |  |
Forward exchange contracts | ($2.7) |  |  | ($1.3) |  |  | ($0.8) |  |  | ($1.4) |
De-designated interest rate swaps | — |  |  | — |  |  | (27.2) |  |  | (8.9) |
Other | — |  |  | — |  |  | (1.7) |  |  | — |
Total (Gain) Loss Recognized in Income | ($2.7) |  |  | ($1.3) |  |  | ($29.7) |  |  | ($10.3) |

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