| Shareholders' Equity |
Shareholders' Equity Changes in certain components of shareholders' equity for the first two quarters of fiscal years 2019 and 2018 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, 2018 | $ | 347 |
| | $ | 16,179 |
| | $ | 12,596 |
| | $ | 22 |
| | (78,463 | ) | | $ | (6,243 | ) | Net income | — |
| | — |
| | 599 |
| | — |
| | — |
| | — |
| Common dividends ($0.77 per share) | — |
| | — |
| | (207 | ) | | — |
| | — |
| | — |
| Preferred dividends | — |
| | — |
| | (38 | ) | | — |
| | — |
| | — |
| Common stock issued for share-based compensation and other plans, net | — |
| | (97 | ) | | — |
| | 2 |
| | 851 |
| | 9 |
| Share-based compensation | — |
| | 92 |
| | — |
| | — |
| | — |
| | — |
| Common stock held in trusts, net (a) | — |
| | — |
| | — |
| | — |
| | (12 | ) | | — |
| Effect of changes in accounting principles (see Note 2) | — |
| | — |
| | 68 |
| | — |
| | — |
| | — |
| Balance at December 31, 2018 | $ | 347 |
| | $ | 16,174 |
| | $ | 13,018 |
| | $ | 24 |
| | (77,624 | ) | | $ | (6,235 | ) | Net income | — |
| | — |
| | 20 |
| | — |
| | — |
| | — |
| Common dividends ($0.77 per share) | — |
| | — |
| | (208 | ) | | — |
| | — |
| | — |
| Preferred dividends | — |
| | — |
| | (38 | ) | | — |
| | — |
| | — |
| Common stock issued for share-based compensation and other plans, net | — |
| | (57 | ) | | (1 | ) | | (1 | ) | | 618 |
| | 42 |
| Share-based compensation | — |
| | 60 |
| | — |
| | — |
| | — |
| | — |
| Common stock held in trusts, net (a) | — |
| | — |
| | — |
| | — |
| | 50 |
| | — |
| Balance at March 31, 2019 | $ | 347 |
| | $ | 16,177 |
| | $ | 12,792 |
| | $ | 23 |
| | (76,955 | ) | | $ | (6,192 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | 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, 2017 | $ | 347 |
| | $ | 9,619 |
| | $ | 13,111 |
| | $ | 19 |
| | (118,745 | ) | | $ | (8,427 | ) | Net loss | — |
| | — |
| | (136 | ) | | — |
| | — |
| | — |
| Common dividends ($0.75 per share) | — |
| | — |
| | (172 | ) | | — |
| | — |
| | — |
| Preferred dividends | — |
| | — |
| | (38 | ) | | — |
| | — |
| | — |
| Common stock issued for acquisition | — |
| | 6,487 |
| | — |
| | — |
| | 37,306 |
| | 2,121 |
| Common stock issued for share-based compensation and other plans, net | — |
| | (51 | ) | | — |
| | — |
| | 1,021 |
| | (37 | ) | Share-based compensation | — |
| | 142 |
| | — |
| | — |
| | — |
| | — |
| Common stock held in trusts, net (a) | — |
| | — |
| | — |
| | — |
| | (27 | ) | | — |
| Balance at December 31, 2017 | $ | 347 |
| | $ | 16,197 |
| | $ | 12,765 |
| | $ | 19 |
| | (80,445 | ) | | $ | (6,343 | ) | Net loss | — |
| | — |
| | (12 | ) | | — |
| | — |
| | — |
| Common dividends ($0.75 per share) | — |
| | — |
| | (201 | ) | | — |
| | — |
| | — |
| Preferred dividends | — |
| | — |
| | (38 | ) | | — |
| | — |
| | — |
| Common stock issued for acquisition | — |
| | (9 | ) | | — |
| | — |
| | — |
| | — |
| Common stock issued for share-based compensation and other plans, net | — |
| | (94 | ) | | (1 | ) | | 2 |
| | 943 |
| | 44 |
| Share-based compensation | — |
| | 76 |
| | — |
| | — |
| | — |
| | — |
| Common stock held in trusts, net (a) | — |
| | — |
| | — |
| | — |
| | 17 |
| | — |
| Effect of changes in accounting principles (see Note 2) | — |
| | — |
| | 103 |
| | — |
| | — |
| | — |
| Balance at March 31, 2018 | $ | 347 |
| | $ | 16,170 |
| | $ | 12,616 |
| | $ | 21 |
| | (79,485 | ) | | $ | (6,300 | ) |
| | (a) | Common stock held in trusts represents rabbi trusts in connection with deferred compensation under the Company’s employee salary and bonus deferral plan and directors’ deferral plan. |
The components and changes of Accumulated other comprehensive income (loss) for the first two quarters of fiscal years 2019 and 2018 were as follows: | | | | | | | | | | | | | | | | | (Millions of dollars) | Total | | Foreign Currency Translation | | Benefit Plans | |
Cash Flow Hedges | Balance at September 30, 2018 | $ | (1,909 | ) | | $ | (1,162 | ) | | $ | (729 | ) | | $ | (17 | ) | Other comprehensive (loss) income before reclassifications, net of taxes | (32 | ) | | (35 | ) | | 3 |
| | (1 | ) | Amounts reclassified into income, net of taxes | 14 |
| | — |
| | 13 |
| | 1 |
| Balance at December 31, 2018 | $ | (1,927 | ) | | $ | (1,197 | ) | | $ | (714 | ) | | $ | (16 | ) | Other comprehensive income (loss) before reclassifications, net of taxes | 74 |
| | 76 |
| | — |
| | (2 | ) | Amounts reclassified into income, net of taxes | 14 |
| | — |
| | 13 |
| | 1 |
| Balance at March 31, 2019 | $ | (1,839 | ) | | $ | (1,121 | ) | | $ | (701 | ) | | $ | (17 | ) |
| | | | | | | | | | | | | | | | | (Millions of dollars) | Total | | Foreign Currency Translation | | Benefit Plans | |
Cash Flow Hedges | Balance at September 30, 2017 | $ | (1,723 | ) | | $ | (1,001 | ) | | $ | (703 | ) | | $ | (18 | ) | Other comprehensive loss before reclassifications, net of taxes | (36 | ) | | (36 | ) | | — |
| | — |
| Amounts reclassified into income, net of taxes | 18 |
| | — |
| | 17 |
| | 1 |
| Balance at December 31, 2017 | $ | (1,740 | ) | | $ | (1,037 | ) | | $ | (686 | ) | | $ | (17 | ) | Other comprehensive income before reclassifications, net of taxes | 128 |
| | 128 |
| | — |
| | — |
| Amounts reclassified into income, net of taxes | 11 |
| | — |
| | 9 |
| | 2 |
| Tax effects reclassified into retained earnings | (103 | ) | | — |
| | (99 | ) | | (4 | ) | Balance at March 31, 2018 | $ | (1,704 | ) | | $ | (909 | ) | | $ | (776 | ) | | $ | (20 | ) |
The amount of foreign currency translation recognized in other comprehensive income during the three and six months ended March 31, 2019 and 2018 included net (losses) gains relating to net investment hedges, as further discussed in Note 13. During the second quarter of 2018, as permitted under U.S. GAAP guidance, the Company reclassified stranded income tax effects on items within Accumulated other comprehensive income (loss) resulting from the enactment of new U.S. tax legislation to Retained earnings. The reclassified tax effects related to prior service credits and net actuarial losses relating to benefit plans, as well as to terminated cash flow hedges. The tax effects relating to these items are generally recognized as such amounts are amortized into earnings. |