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Share-Based Compensation (Tables)
 12 Months Ended
Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Compensation Cost Relating to Share-Based Payments The amounts and location of compensation cost relating to share-based payments included in the consolidated statements of income is as follows:
(Millions of dollars)202320222021
Cost of products sold$50 $46 $43 
Selling and administrative expense170 156 158 
Research and development expense41 37 36 
Acquisition-related integration and restructuring expense— 1 1 
Total share-based compensation cost$261 $240 $238 
Tax benefit associated with share-based compensation costs recognized$58 $55 $55 
Assumptions for Estimation of Fair Values of Stock Appreciation Rights Granted During Reporting Periods The fair value of awards was estimated on the date of grant using a lattice-based binomial option valuation model and these valuations were largely based upon the following weighted-average assumptions:
202320222021
Risk-free interest rate3.78%1.41%0.68%
Expected volatility21.0%22.0%23.0%
Expected dividend yield1.53%1.42%1.46%
Expected life7.0 years7.3 years7.4 years
Fair value derived$57.80$49.45$44.38
Summary of SARs Outstanding
A summary of SARs outstanding as of September 30, 2023 and changes during the year then ended is as follows:
SARs (in
thousands)		Weighted
Average
Exercise Price		Weighted
Average
Remaining
Contractual Term
(Years)		Aggregate
Intrinsic
Value
(Millions
of dollars)
Balance at October 15,544 $197.31 
Granted752 238.06 
Exercised(1,161)156.11 
Forfeited, canceled or expired(230)253.21 
Balance at September 304,905 $211.47 5.66$231 
Vested and expected to vest at September 304,757 210.67 5.58$228 
Exercisable at September 303,428 $200.41 4.53$199 
Schedule Of Share Based Compensation, Summary of Stock Appreciation Rights Exercised
A summary of SARs exercised during 2023, 2022 and 2021 is as follows:
(Millions of dollars)202320222021
Total intrinsic value of SARs exercised$126 $184 $102 
Total fair value of SARs vested$34 $36 $39 
Summary of Performance-Based Restricted Stock Units Outstanding
A summary of restricted stock units outstanding as of September 30, 2023 and changes during the year then ended is as follows:
Performance-BasedTime-Vested
Stock Units (in
thousands)		Weighted
Average Grant
Date Fair Value		Stock Units (in
thousands)		Weighted
Average Grant
Date Fair Value
Balance at October 1934 $230.46 1,561 $224.87 
Granted440 227.11 1,037 231.58 
Distributed(81)238.60 (510)232.11 
Forfeited or canceled(330)235.53 (372)231.72 
Balance at September 30963 (a)$226.51 1,716 $225.33 
Expected to vest at September 30597 (b)$225.74 1,626 $224.89 
(a)Based on 200% of target payout for performance based restricted units and 100% of the performance based time-vested units.
(b)Net of expected forfeited units and units in excess of the expected performance payout of 69 thousand and 297 thousand shares, respectively.
Schedule Of Share Based Compensation, Restricted Stock Units, Grant Date Fair Value of Units Granted
The weighted average grant date fair value of restricted stock units granted during the years 2023, 2022 and 2021 are as follows:
Performance-BasedTime-Vested
202320222021202320222021
Weighted average grant date fair value of units granted$227.11 $242.39 $216.39 $231.58 $239.39 $223.60 
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity
The total fair value of stock units vested during 2023, 2022 and 2021 was as follows:
Performance-BasedTime-Vested
(Millions of dollars)202320222021202320222021
Total fair value of units vested$28 $14 $16 $169 $169 $203