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Revenue Recognition | 9 Months Ended
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Jun. 30, 2025
Revenue from Contract with Customer [Abstract] |
Revenue Recognition | REVENUE RECOGNITION The majority of our revenue is generated from our sale of gas customers within the regional industrial gases segments. We distribute gases through either our on-site or merchant supply mode depending on various factors, including the customer's volume requirements and location. We also design and manufacture equipment for air separation, hydrocarbon recovery and purification, and liquid helium and liquid hydrogen transport and storage. The Corporate and other segment serves our sale of equipment customers. Disaggregation of Revenue The tables provided below present our consolidated sales disaggregated by supply mode for each of our reportable segments for the third quarter and first nine months of fiscal years 2025 and 2024. We believe this presentation best depicts the nature, timing, type of customer, and contract terms for our sales.
| Three Months Ended 30 June 2025
| Americas | Asia | Europe | Middle East and India | Corporate and other | Total | %
On-site | $708.1 |  | $546.2 |  | $265.5 |  | $23.9 |  | $— |  | $1,543.7 |  | 51 | %
Merchant | 552.9 |  | 263.8 |  | 505.0 |  | 14.4 |  | — |  | 1,336.1 |  | 44 | %
Sale of equipment | — |  | — |  | — |  | — |  | 142.9 |  | 142.9 |  | 5 | %
Total | $1,261.0 |  | $810.0 |  | $770.5 |  | $38.3 |  | $142.9 |  | $3,022.7 |  | 100 | %
| Three Months Ended 30 June 2024
| Americas | Asia | Europe | Middle East and India | Corporate and other | Total | %
On-site | $680.3 |  | $506.9 |  | $218.3 |  | $18.4 |  | $— |  | $1,423.9 |  | 48 | %
Merchant | 554.4 |  | 282.7 |  | 475.1 |  | 14.4 |  | — |  | 1,326.6 |  | 44 | %
Sale of equipment | — |  | — |  | — |  | — |  | 235.0 |  | 235.0 |  | 8 | %
Total | $1,234.7 |  | $789.6 |  | $693.4 |  | $32.8 |  | $235.0 |  | $2,985.5 |  | 100 | %
| Nine Months Ended 30 June 2025 |
| Americas | Asia | Europe | Middle East and India | Corporate and other | Total | % |
On-site | $2,181.7 |  | $1,598.6 |  | $743.0 |  | $61.2 |  | $— |  | $4,584.5 |  | 52 | % |
Merchant | 1,654.1 |  | 802.6 |  | 1,452.1 |  | 42.7 |  | — |  | 3,951.5 |  | 44 | % |
Sale of Equipment | — |  | — |  | — |  | — |  | 334.4 |  | 334.4 |  | 4 | % |
Total | $3,835.8 |  | $2,401.2 |  | $2,195.1 |  | $103.9 |  | $334.4 |  | $8,870.4 |  | 100 | % |
| Nine Months Ended 30 June 2024 |
| Americas | Asia | Europe | Middle East and India | Corporate and other | Total | % |
On-site | $2,089.9 |  | $1,506.0 |  | $672.0 |  | $54.4 |  | $— |  | $4,322.3 |  | 48 | % |
Merchant | 1,642.7 |  | 857.1 |  | 1,420.5 |  | 49.5 |  | — |  | 3,969.8 |  | 45 | % |
Sale of Equipment | — |  | — |  | — |  | — |  | 621.0 |  | 621.0 |  | 7 | % |
Total | $3,732.6 |  | $2,363.1 |  | $2,092.5 |  | $103.9 |  | $621.0 |  | $8,913.1 |  | 100 | % |
Interest income associated with financing and lease arrangements accounted for approximately 1% of our total consolidated sales for the periods presented. Remaining Performance Obligations As of 30 June 2025, the transaction price allocated to remaining performance obligations is estimated to be approximately $26 billion. This amount includes fixed-charge contract provisions associated with our on-site and sale of equipment supply modes. We estimate that approximately half of this revenue will be recognized over the next five years and the balance thereafter. Our remaining performance obligations do not include (1) expected revenue associated with new on-site plants that are not yet on-stream; (2) consideration associated with contracts that have an expected duration of less than one year; and (3) variable consideration for which we recognize revenue at the amount to which we have the right to invoice, including energy cost pass-through to customers. In the future, actual amounts will differ due to events outside of our control, including, but not limited to, inflationary price escalations; currency exchange rates; and amended, terminated, or renewed contracts. Contract Balances The table below details balances arising from contracts with customers:
|  |  | 30 June | 30 September
|  | Balance Sheet Location | 2025 | 2024
Assets |  |  |  |
Contract assets – current |  | Other receivables and current assets | $135.4 |  | $76.2 |
Contract fulfillment costs – current |  | Other receivables and current assets | 114.4 |  | 103.7 |
Contract assets – noncurrent |  | Other noncurrent assets | 53.8 |  | — |
Liabilities |  |  |  |
Contract liabilities – current |  | Payables and accrued liabilities | $232.9 |  | $240.0 |
Contract liabilities – noncurrent |  | Other noncurrent liabilities | 287.2 |  | 290.0 |
During the first nine months of fiscal year 2025, we recognized sales of approximately $90 associated with sale of equipment contracts that were included within our current contract liabilities as of 30 September 2024.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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