Income Taxes (Tables)

12 Months Ended

Sep. 30, 2016

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

	2016		2015		2014
Components of income before income taxes:
United States	$	512.1	$	660.5	$	607.3
Non-United States	431.0		467.0		526.9
Total	$	943.1	$	1,127.5	$	1,134.2

Schedule of Components of Income Tax Expense (Benefit)

Components of the income tax provision:
Current:
United States	$	175.9		$	238.6		$	219.4
Non-United States	91.7			73.6			85.3
State and local	16.3			17.0			9.9
Total current	283.9			329.2			314.6
Deferred:
United States	(53.7		)	(30.3		)	(3.8		)
Non-United States	(8.8		)	2.6			(4.0		)
State and local	(8.0		)	(1.6		)	0.6
Total deferred	(70.5		)	(29.3		)	(7.2		)
Income tax provision	$	213.4		$	299.9		$	307.4
Total income taxes paid	$	299.8		$	313.1		$	323.8

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation between the U.S. federal statutory rate and our effective tax rate was:

	2016		2015		2014
Statutory tax rate	35.0	%	35.0	%	35.0	%
State and local income taxes	0.6		0.9		0.8
Non-United States taxes	(8.6	)	(7.9	)	(9.5	)
Tax effect of foreign dividends	0.1		(0.2	)	0.5
Foreign currency transaction loss	(0.8	)	—		—
Research and development tax credit	(2.0	)	(0.6	)	(0.1	)
Change in valuation allowances	(0.6	)	(0.5	)	(0.1	)
Domestic manufacturing deduction	(1.2	)	(1.2	)	(1.1	)
Adjustments for prior period tax matters	0.4		0.5		1.0
Other	(0.3	)	0.6		0.6
Effective income tax rate	22.6	%	26.6	%	27.1	%

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to our net deferred income tax assets (liabilities) at September 30, 2016 and 2015 were (in millions):

	2016			2015
Deferred income tax assets:
Compensation and benefits	$	16.2		$	28.4
Inventory	18.0			15.3
Returns, rebates and incentives	55.1			50.8
Retirement benefits	493.6			371.2
Environmental remediation and other site-related costs	34.8			31.1
Share-based compensation	40.6			35.5
Other accruals and reserves	60.5			48.9
Net operating loss carryforwards	24.4			25.9
Tax credit carryforwards	13.7			8.5
Capital loss carryforwards	9.9			13.6
Other	11.4			15.9
Subtotal	778.2			645.1
Valuation allowance	(17.3		)	(22.2		)
Net deferred income tax assets	760.9			622.9
Deferred income tax liabilities:
Property	(63.5		)	(74.9		)
Intangible assets	(54.9		)	(53.2		)
Other	(8.6		)	—
Deferred income tax liabilities	(127.0		)	(128.1		)
Total net deferred income tax assets	$	633.9		$	494.8

Schedule of Tax Attributes and Valuation Allowances

Tax attributes and related valuation allowances at September 30, 2016 were (in millions):

Tax Attribute to be Carried Forward	Tax Benefit Amount		Valuation Allowance		Carryforward Period Ends
Non-United States net operating loss carryforward	$	7.7	$	4.4	2017	-	2026
Non-United States net operating loss carryforward	6.1		1.6		Indefinite
Non-United States capital loss carryforward	9.9		9.9		Indefinite
United States net operating loss carryforward	2.8		—		2019	-	2033
United States tax credit carryforward	2.5		—		2018	-	2037
State and local net operating loss carryforward	7.8		0.2		2017	-	2033
State tax credit carryforward	11.2		0.6		2019	-	2031
Subtotal — tax carryforwards	48.0		16.7
Other deferred tax assets	0.6		0.6		Indefinite
Total	$	48.6	$	17.3

Summary of Income Tax Contingencies

A reconciliation of our gross unrecognized tax benefits, excluding interest and penalties, is as follows (in millions):

	2016			2015			2014
Gross unrecognized tax benefits balance at beginning of year	$	43.9		$	38.9		$	40.8
Additions based on tax positions related to the current year	2.3			2.1			1.0
Additions based on tax positions related to prior years	14.9			11.6			2.2
Reductions based on tax positions related to prior years	—			(1.0		)	—
Reductions related to settlements with taxing authorities	(27.1		)	(4.3		)	—
Reductions related to lapses of statute of limitations	(1.6		)	(1.6		)	(4.2		)
Effect of foreign currency translation	—			(1.8		)	(0.9		)
Gross unrecognized tax benefits balance at end of year	$	32.4		$	43.9		$	38.9