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Shareholders' Equity (Tables) | 6 Months Ended
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Mar. 31, 2025
Stockholders' Equity Note [Abstract] |
Schedule of Shareholders Equity | Changes in certain components of shareholders' equity for the first two quarters of fiscal years 2025 and 2024 were as follows:
| Common Stock Issued at Par Value |  | Capital in Excess of Par Value |  | Retained Earnings |  | Deferred Compensation |  | Treasury Stock
(Millions of dollars) | Shares (in thousands) |  | Amount
Balance at September 30, 2024 | $ | 371 |  |  | $ | 19,893 |  |  | $ | 16,139 |  |  | $ | 25 |  |  | (81,493) |  |  | $ | (8,807) |
Net income | — |  |  | — |  |  | 303 |  |  | — |  |  | — |  |  | — |
Common dividends ($1.04 per share) | — |  |  | — |  |  | (302) |  |  | — |  |  | — |  |  | — |
Issuance of shares under employee and other plans, net | — |  |  | (65) |  |  | — |  |  | — |  |  | 679 |  |  | (12) |
Share-based compensation | — |  |  | 90 |  |  | — |  |  | — |  |  | — |  |  | — |
Common stock held in trusts, net (a) | — |  |  | — |  |  | — |  |  | — |  |  | (8) |  |  | — |
Repurchase of common stock | — |  |  | (150) |  |  | — |  |  | — |  |  | (2,637) |  |  | (606) |
Balance at December 31, 2024 | $ | 371 |  |  | $ | 19,768 |  |  | $ | 16,141 |  |  | $ | 25 |  |  | (83,459) |  |  | $ | (9,425) |
Net income | — |  |  | — |  |  | 308 |  |  | — |  |  | — |  |  | — |
Common dividends ($1.04 per share) | — |  |  | — |  |  | (298) |  |  | — |  |  | — |  |  | — |
Issuance of shares under employee and other plans, net | — |  |  | (6) |  |  | — |  |  | 1 |  |  | 78 |  |  | 13 |
Share-based compensation | — |  |  | 59 |  |  | — |  |  | — |  |  | — |  |  | — |
Common stock held in trusts, net (a) | — |  |  | — |  |  | — |  |  | — |  |  | 13 |  |  | — |
Repurchase of common stock | — |  |  | 150 |  |  | — |  |  | — |  |  | (619) |  |  | (150) |
Balance at March 31, 2025 | $ | 371 |  |  | $ | 19,971 |  |  | $ | 16,150 |  |  | $ | 26 |  |  | (83,987) |  |  | $ | (9,561) |
| Common Stock Issued at Par Value |  | Capital in Excess of Par Value |  | Retained Earnings |  | Deferred Compensation |  | Treasury Stock
(Millions of dollars) | Shares (in thousands) |  | Amount
Balance at September 30, 2023 | $ | 371 |  |  | $ | 19,720 |  |  | $ | 15,535 |  |  | $ | 24 |  |  | (80,203) |  |  | $ | (8,305) |
Net income | — |  |  | — |  |  | 281 |  |  | — |  |  | — |  |  | — |
Common dividends ($0.95 per share) | — |  |  | — |  |  | (275) |  |  | — |  |  | — |  |  | — |
Issuance of shares under employee and other plans, net | — |  |  | (62) |  |  | — |  |  | — |  |  | 647 |  |  | (20) |
Share-based compensation | — |  |  | 83 |  |  | — |  |  | — |  |  | — |  |  | — |
Common stock held in trusts, net (a) | — |  |  | — |  |  | — |  |  | — |  |  | (19) |  |  | — |
Repurchase of common stock | — |  |  | — |  |  | — |  |  | — |  |  | (2,118) |  |  | (503) |
Balance at December 31, 2023 | $ | 371 |  |  | $ | 19,741 |  |  | $ | 15,540 |  |  | $ | 24 |  |  | (81,692) |  |  | $ | (8,828) |
Net income | — |  |  | — |  |  | 537 |  |  | — |  |  | — |  |  | — |
Common dividends ($0.95 per share) | — |  |  | — |  |  | (275) |  |  | — |  |  | — |  |  | — |
Issuance of shares under employee and other plans, net | — |  |  | (5) |  |  | — |  |  | 2 |  |  | 72 |  |  | 17 |
Share-based compensation | — |  |  | 60 |  |  | — |  |  | — |  |  | — |  |  | — |
Common stock held in trusts, net (a) | — |  |  | — |  |  | — |  |  | — |  |  | 32 |  |  | — |
Balance at March 31, 2024 | $ | 371 |  |  | $ | 19,795 |  |  | $ | 15,802 |  |  | $ | 26 |  |  | (81,588) |  |  | $ | (8,811) |
(a)Common stock held in trusts consists of the Company’s shares held in rabbi trusts in connection with deferred compensation under the Company’s employee salary and bonus deferral plan and directors’ deferral plan.
Accelerated Share Repurchases | The impacts of these accelerated share repurchase transactions were as follows:
Execution Date |  | Settlement Date |  | Aggregate Common Stock Repurchased (millions of dollars) (a) |  | Initial Shares Delivered (in thousands) |  | Additional Shares Delivered at Settlement (in thousands) (b) |  | Total Shares Delivered (in thousands)
Q1 2025 |  | Q2 2025 |  | $ | 750 |  |  | 2,637 |  |  | 619 |  |  | 3,256 |
(a) Excludes a 1% excise tax on share repurchases of $6 million. (b) The final settlement for the first quarter transaction amounted to $150 million.
Schedule of Accumulated Other Comprehensive Income (Loss) | The components and changes of Accumulated other comprehensive income (loss) for the first two quarters of fiscal years 2025 and 2024 were as follows:
(Millions of dollars) | Total |  | Foreign Currency Translation |  | Benefit Plans |  | Cash Flow Hedges |  | Available-for-Sale Debt Securities
Balance at September 30, 2024 | $ | (1,732) |  |  | $ | (1,244) |  |  | $ | (557) |  |  | $ | 70 |  |  | $ | (1) |
Other comprehensive income before reclassifications, net of taxes | 49 |  |  | 46 |  |  | — |  |  | 3 |  |  | — |
Amounts reclassified into income, net of taxes | 6 |  |  | — |  |  | 8 |  |  | (2) |  |  | — |
Balance at December 31, 2024 | $ | (1,676) |  |  | $ | (1,199) |  |  | $ | (549) |  |  | $ | 72 |  |  | $ | (1) |
Other comprehensive (loss) income before reclassifications, net of taxes | (47) |  |  | (48) |  |  | — |  |  | — |  |  | — |
Amounts reclassified into income, net of taxes | 7 |  |  | — |  |  | 8 |  |  | — |  |  | — |
Balance at March 31, 2025 | $ | (1,716) |  |  | $ | (1,246) |  |  | $ | (541) |  |  | $ | 72 |  |  | $ | (1) |
(Millions of dollars) | Total |  | Foreign Currency Translation |  | Benefit Plans |  | Cash Flow Hedges |  | Available-for-Sale Debt Securities
Balance at September 30, 2023 | $ | (1,548) |  |  | $ | (1,078) |  |  | $ | (571) |  |  | $ | 103 |  |  | $ | — |
Other comprehensive income (loss) before reclassifications, net of taxes | 21 |  |  | 40 |  |  | — |  |  | (19) |  |  | — |
Amounts reclassified into income, net of taxes | 12 |  |  | — |  |  | 12 |  |  | 1 |  |  | — |
Balance at December 31, 2023 | $ | (1,515) |  |  | $ | (1,038) |  |  | $ | (559) |  |  | $ | 84 |  |  | $ | — |
Other comprehensive (loss) income before reclassifications, net of taxes | (31) |  |  | (41) |  |  | — |  |  | 9 |  |  | (1) |
Amounts reclassified into income, net of taxes | 11 |  |  | — |  |  | 12 |  |  | (1) |  |  | — |
Balance at March 31, 2024 | $ | (1,535) |  |  | $ | (1,079) |  |  | $ | (548) |  |  | $ | 93 |  |  | $ | (1) |

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- Definition Tabular disclosure of accelerated share repurchase (ASR) programs. An ASR is a combination of transactions that permits an entity to purchase a targeted number of shares immediately with the final purchase price of those shares determined by an average market price over a fixed period of time. An accelerated share repurchase program is intended to combine the immediate share retirement benefits of a tender offer with the market impact and pricing benefits of a disciplined daily open market stock repurchase program. ASRs can be disclosed as part of stockholders' equity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 30 -Name Accounting Standards Codification -Section 25 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481138/505-30-25-5 + Details
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- Definition Tabular disclosure of changes in the separate accounts comprising stockholders' equity (in addition to retained earnings) and of the changes in the number of shares of equity securities during at least the most recent annual fiscal period and any subsequent interim period presented is required to make the financial statements sufficiently informative if both financial position and results of operations are presented. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 505 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-2 + Details
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