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Shareholders' Equity
 12 Months Ended
Sep. 30, 2020
Stockholders' Equity Note [Abstract]  
Shareholders' Equity Shareholders’ Equity
Changes in certain components of shareholders’ equity 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, 2017$347 $9,619 $13,111 $19 (118,745)$(8,427)
Net income— — 311 — — — 
Cash dividends:
Common ($3.00 per share)
— — (775)— — — 
Preferred— — (152)— — — 
Common stock issued for:
Acquisition (see Note 10)— 6,478 — — 37,306 2,121 
Share-based compensation and other plans, net— (246)(2)3 2,982 62 
Share-based compensation— 328 — — — — 
Common stock held in trusts, net (a)— — — — (6)— 
Effect of change in accounting principle (see Note 2 and further discussion below)— — 103 — — — 
Balance at September 30, 2018$347 $16,179 $12,596 $22 (78,463)$(6,243)
Net income— — 1,233 — — — 
Cash dividends:
Common ($3.08 per share)
— — (832)— — — 
Preferred— — (152)— — — 
Common stock issued for share-based compensation and other plans, net— (170)(1)1 2,155 53 
Share-based compensation— 261 — — — — 
Common stock held in trusts, net (a)— — — — 48 — 
Effect of change in accounting principle (see Note 2)— — 68 — — — 
Balance at September 30, 2019$347 $16,270 $12,913 $23 (76,260)$(6,190)
Net income— — 874 — — — 
Cash dividends:
Common ($3.16 per share)
— — (888)— — — 
Preferred— — (107)— — — 
Common stock issued for:
Preferred shares converted to common shares12 (9)— — — — 
Public equity offerings6 2,909 — — — — 
Share-based compensation and other plans, net— (143)— — 1,597 52 
Share-based compensation— 244 — — — — 
Common stock held in trusts, net (a)— — — — 41 — 
Balance at September 30, 2020$365 $19,270 $12,791 $23 (74,623)$(6,138)
(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.
Common and Preferred Stock Conversions and Offerings
In accordance with their terms, the Company's 2.475 million mandatory convertible preferred shares that were issued in May 2017 in connection with the Company's acquisition of Bard were converted into 11.703 million shares of BD common stock on the mandatory conversion date of May 1, 2020.
Also in May 2020, the Company completed registered public offerings of equity securities including:
•6.250 million shares of the Company's common stock for net proceeds of $1.459 billion (gross proceeds of $1.500 billion).
•1.500 million shares of the Company's mandatory convertible preferred stock (ownership is held in the form of depositary shares, each representing a 1/20th interest in a share of preferred stock) for net proceeds of $1.459 billion (gross proceeds of $1.500 billion). If and when declared, dividends on the mandatory convertible preferred stock will be payable on a cumulative basis at an annual rate of 6.00% on the liquidation preference of $1,000 per preferred share ($50 per depositary share). The shares of preferred stock are convertible to a minimum of 5.2 million and up to a maximum of 6.2 million shares of Company common stock at an exchange ratio, based on the market price of the Company’s common stock at the date of conversion, and no later than the mandatory conversion date of June 1, 2023.
The net proceeds from these offerings have been and will be used by the Company for general corporate purposes, which may include funding for the Company's growth strategy through organic investments and acquisitions, working capital, capital expenditures and repayment of outstanding indebtedness.
The components and changes of Accumulated other comprehensive income (loss) were as follows:
(Millions of dollars)TotalForeign
Currency
Translation		Benefit PlansCash Flow
Hedges
Balance at September 30, 2017$(1,723)$(1,001)$(703)$(18)
Other comprehensive (loss) income before reclassifications, net of taxes(142)(161)19 — 
Amounts reclassified into income, net of
taxes		57 — 52 5 
Tax effects reclassified to retained earnings(103)— (99)(4)
Balance at September 30, 2018$(1,909)$(1,162)$(729)$(17)
Other comprehensive loss before reclassifications, net of taxes(427)(93)(325)(9)
Amounts reclassified into income, net of
taxes		52 — 49 3 
Balance at September 30, 2019$(2,283)$(1,256)$(1,005)$(23)
Other comprehensive loss before reclassifications, net of taxes(338)(161)(101)(76)
Amounts reclassified into income, net of
taxes		74 — 66 8 
Balance at September 30, 2020$(2,548)$(1,416)$(1,040)$(91)
The amount of foreign currency translation recognized in other comprehensive income during the years ended September 30, 2020, 2019 and 2018 included net gains (losses) relating to net investment hedges, as further discussed in Note 14. The amounts recognized in other comprehensive income relating to cash flow hedges in 2020 and 2019 related to forward starting interest rate swaps. Additional disclosures regarding the Company's derivatives are provided in Note 14.
During the second quarter of fiscal 2018, as permitted under U.S. GAAP, 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, which legislation is further discussed in Note 17, 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.
The tax impacts for amounts recognized in other comprehensive income before reclassifications were as follows:
(Millions of dollars)202020192018
Benefit Plans
Income tax benefit (provision) for net (losses) gains recorded in other comprehensive income$30 $91 $(19)
The tax impacts for cash flow hedges recognized in other comprehensive income before reclassifications in 2020 were $25 million. The tax impacts recognized in 2019 for cash flow hedges were immaterial to the Company's consolidated financial results. Reclassifications out of Accumulated other comprehensive income (loss) and the related tax impacts relating to benefit plans and cash flow hedges in 2020, 2019 and 2018 were also immaterial to the Company's consolidated financial results