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Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Mar. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions

The notional amounts of the Company’s foreign currency-related derivative instruments as of March 31, 2025 and September 30, 2024 were as follows:

(Millions of dollars)			Hedge Designation						March 31, 2025						September 30, 2024
Foreign exchange contracts (a)			Undesignated						$	2,264					$	4,521
Foreign exchange contracts (b)			Cash flow hedges						641						543
Foreign currency-denominated debt (c)			Net investment hedges						2,959						3,065
Cross-currency swaps (d)			Net investment hedges						1,022						1,366

(a)Represents hedges of transactional foreign exchange exposures resulting primarily from intercompany payables and receivables. Gains and losses on these instruments are recognized immediately in income. These gains and losses are largely offset by gains and losses on the underlying hedged items, as well as the hedging costs associated with the derivative instruments. Net amounts recognized in Other expense, net, during the three and six months ended March 31, 2025 and 2024 were immaterial to the Company's consolidated financial results.

(b)Represents foreign exchange contracts related to anticipated intercompany purchases and sales, described above, which generally have durations of less than eighteen months.

(c)Represents foreign currency-denominated long-term notes outstanding which were effective as economic hedges of net investments in certain of the Company's foreign subsidiaries.

(d)Represents cross-currency swaps, which were effective as economic hedges of net investments in certain of the Company's foreign subsidiaries.

The notional amounts of the Company’s interest rate-related derivative instruments as of March 31, 2025 and September 30, 2024 were as follows:

(Millions of dollars)			Hedge Designation						March 31, 2025						September 30, 2024
Interest rate swaps (a)			Fair value hedges						$	700					$	700

(a)Represents fixed-to-floating interest rate swap agreements the Company entered into to convert the interest payments on certain long-term notes from the fixed rate to a floating interest rate based on secured overnight financing rates (“SOFR”).

Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss)

Net (losses) gains recorded to Accumulated other comprehensive income (loss) relating to the Company's net investment hedges for the three and six-month periods were as follows:

			Three Months Ended March 31,												Six Months Ended March 31,
(Millions of dollars)			2025						2024						2025						2024
Foreign currency-denominated debt			$	(63)					$	4					$	81					$	(25)
Cross-currency swaps (a)			(19)						21						47						(34)

(a) The amount for the six months ended March 31, 2025 includes a loss, net of tax, of $18 million recognized on terminated cross-currency swaps.

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- References

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- Definition

Tabular disclosure of the effective portion of gains and losses on derivative instruments (and nonderivative instruments) designated and qualifying in net investment hedges recorded in accumulated other comprehensive income (loss) during the term of the hedging relationship and reclassified into earnings during the current period.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4CCC
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4CCC

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- Definition

Tabular disclosure of the notional amounts of outstanding derivative positions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A

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