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Equity Items (Tables) | 6 Months Ended
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Mar. 31, 2022
Equity [Abstract] |
Components of Accumulated Other Comprehensive Income (Loss) | Components of other comprehensive income (loss) recorded in the Statements of Consolidated Comprehensive Income (Loss) are presented below.
|  | 2022 |  |  | 2021 |
(In millions) |  | Before tax |  |  | Tax (expense) benefit |  |  | Net of tax |  |  | Before tax |  |  | Tax (expense) benefit |  |  | Net of tax |
Three months ended March 31 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other comprehensive income (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized translation gain (loss) |  | $ | (5 | ) |  | $ | — |  |  | $ | (5 | ) |  | $ | (33 | ) |  | $ | (1 | ) |  | $ | (34 | )
Unrealized gain (loss) on commodity hedges |  |  | 6 |  |  |  | (1 | ) |  |  | 5 |  |  |  | — |  |  |  | — |  |  |  | — |
Total other comprehensive income (loss) |  | $ | 1 |  |  | $ | (1 | ) |  | $ | — |  |  | $ | (33 | ) |  | $ | (1 | ) |  | $ | (34 | )
Six months ended March 31 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other comprehensive income (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized translation gain (loss) |  | $ | (22 | ) |  | $ | 1 |  |  | $ | (21 | ) |  | $ | 15 |  |  | $ | (1 | ) |  | $ | 14 |
Unrealized gain on commodity hedges |  |  | 1 |  |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  | — |
Total other comprehensive income (loss) |  | $ | (21 | ) |  | $ | 1 |  |  | $ | (20 | ) |  | $ | 15 |  |  | $ | (1 | ) |  | $ | 14 |
Summary of Reconciliation of Changes in Stockholders' Equity | A reconciliation of changes in stockholders’ equity are as follows:
|  | Three months ended |  |  | Six months ended |
|  | March 31 |  |  | March 31 |
(In millions) |  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Common stock and paid in capital |  |  |  |  |  |  |  |  |  |  |  |
Balance, beginning of period |  | $ | 328 |  |  | $ | 771 |  |  | $ | 328 |  |  | $ | 770 |
Compensation expense and common shares issued (a) |  |  | 4 |  |  |  | 2 |  |  |  | 4 |  |  |  | 3 |
Common shares purchased under repurchase program (b) |  |  | (155 | ) |  |  | — |  |  |  | (155 | ) |  |  | — |
Balance, end of period |  |  | 177 |  |  |  | 773 |  |  |  | 177 |  |  |  | 773 |
Retained earnings |  |  |  |  |  |  |  |  |  |  |  |
Balance, beginning of period |  |  | 2,827 |  |  |  | 2,686 |  |  |  | 2,796 |  |  |  | 2,649 |
Adoption of new accounting pronouncements |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (2 | )
Net income |  |  | 786 |  |  |  | 41 |  |  |  | 834 |  |  |  | 97 |
Regular dividends |  |  | (17 | ) |  |  | (17 | ) |  |  | (34 | ) |  |  | (34 | )
Balance, end of period |  |  | 3,596 |  |  |  | 2,710 |  |  |  | 3,596 |  |  |  | 2,710 |
Accumulated other comprehensive income (loss) |  |  |  |  |  |  |  |  |  |  |  |
Balance, beginning of period |  |  | (392 | ) |  |  | (335 | ) |  |  | (372 | ) |  |  | (383 | )
Unrealized translation gain (loss) |  |  | (5 | ) |  |  | (34 | ) |  |  | (21 | ) |  |  | 14 |
Unrealized gain on commodity hedges |  |  | 5 |  |  |  | — |  |  |  | 1 |  |  |  | — |
Balance, end of period |  |  | (392 | ) |  |  | (369 | ) |  |  | (392 | ) |  |  | (369 | )
Total stockholders' equity |  | $ | 3,381 |  |  | $ | 3,114 |  |  | $ | 3,381 |  |  | $ | 3,114 |
Cash dividends declared per common share |  | $ | 0.300 |  |  | $ | 0.275 |  |  | $ | 0.600 |  |  | $ | 0.550 |
(a) Common shares issued were 13,935 shares and 41,512 shares for the three months ended March 31, 2022 and 2021, respectively, and 108,650 shares and 140,706 shares for the six months ended March 31, 2022 and 2021, respectively. (b) Common shares repurchased were 2,403,380 shares for the three and six months ended March 31, 2022.

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- Definition Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=124509347&loc=d3e526-108580 + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21463-112644 + Details
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