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Financial Instruments and Fair Value Measurements (Tables) | 12 Months Ended
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Sep. 30, 2023
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 September 30, 2023 and 2022 to the total of these amounts shown on the Company's consolidated statements of cash flows:
(Millions of dollars) | 2023 |  | 2022
Cash and equivalents | $ | 1,416 |  |  | $ | 1,006 |
Restricted cash | 65 |  |  | 153 |
Cash and equivalents and restricted cash | $ | 1,481 |  |  | $ | 1,159 |
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 (See Note 1) |  | 2023 |  | 2022
Institutional money market accounts (a) | Level 1 |  | $ | 373 |  |  | $ | 1 |
Current portion of long-term debt (b) | Level 2 |  | 1,122 |  |  | 1,927 |
Long-term debt (b) | Level 2 |  | 12,850 |  |  | 12,119 |
(a)These financial instruments are recorded within Cash and equivalents on the consolidated balance sheets. The institutional money market accounts permit daily redemption. (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.
(Millions of dollars) | 2023 |  | 2022 |  | 2021
Trade receivables transferred to third parties under factoring arrangements | $ | 2,615 |  |  | $ | 1,215 |  |  | $ | 1,189 |
(Millions of dollars) | 2023 |  | 2022 |  |
Amounts yet to be collected and remitted to the third parties | 357 |  |  | 323 |  |  |

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- Definition Tabular disclosure of the components of cash and cash equivalents. + References No definition available. + Details
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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 -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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -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 + Details
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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 -Name Accounting Standards Codification -Section 50 -Paragraph 4D -SubTopic 20 -Topic 860 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481326/860-20-50-4D + Details
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