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Financial Instruments and Fair Value Measurements (Tables)

6 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Cash and Cash Equivalents

The following reconciles cash and equivalents and restricted cash reported within the Company's consolidated balance sheets at March 31, 2022 and September 30, 2021 to the total of these amounts shown on the Company's consolidated statements of cash flows:

(Millions of dollars)			March 31, 2022						September 30, 2021
Cash and equivalents			$	3,147					$	2,283
Restricted cash			173						109
Cash and equivalents and restricted cash			$	3,320					$	2,392

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The fair values of the Company’s financial instruments are as follows:

(Millions of dollars)			Basis of fair value measurement						March 31, 2022						September 30, 2021
Institutional money market accounts and ultra-short bond fund (a)			Level 1						$	609					$	200
Current portion of long-term debt (b)			Level 2						1,056						503
Long-term debt (b)			Level 2						17,576						18,537

(a)These financial instruments are recorded within Cash and equivalents on the consolidated balance sheets. The institutional money market accounts permit daily redemption. The fair values of these investments are based upon the quoted prices in active markets provided by the holding financial institutions.

(b)Long-term debt is recorded at amortized cost. The fair value of long-term debt is measured based upon quoted prices in active markets for similar instruments.

Transfer of Financial Assets Accounted for as Sales

The amounts transferred and yet to be remitted under factoring arrangements are provided below.

			Three Months Ended March 31,												Six Months Ended March 31,
(Millions of dollars)			2022						2021						2022						2021
Trade receivables transferred to third parties under factoring arrangements			$	323					$	364					$	478					$	856

			March 31, 2022						September 30, 2021
Amounts yet to be collected and remitted to the third parties			$	237					$	130

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- Definition

Tabular disclosure of the components of cash and cash equivalents.

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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/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

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- Definition

Tabular disclosure of derecognized financial assets from transactions which comprise an initial transfer and an agreement entered into in contemplation of the initial transfer resulting in retention of substantially all of the exposure to the economic return throughout the term of the transaction.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 860
-SubTopic 20
-Section 50
-Paragraph 4D
-URI http://asc.fasb.org/extlink&oid=121570589&loc=SL51823488-111719

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