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Shareholders' Equity (Tables)
12 Months Ended
Sep. 30, 2021
Stockholders' Equity Note [Abstract]  
Changes in Certain Components of 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, 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)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 offerings2,909 — — — — 
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)
Net income— — 2,092 — — — 
Cash dividends:
Common ($3.32 per share)
— — (958)— — — 
Preferred— — (90)— — — 
Common stock issued for share-based compensation and other plans, net— (85)— — 1,068 15 
Share-based compensation— 237 — — — — 
Common stock held in trusts, net (a)— — — — 33 — 
Repurchase of common stock— (150)— — (6,643)(1,600)
Effect of change in accounting principle (see Note 2)— — (9)— — — 
Balance at September 30, 2021$365 $19,272 $13,826 $23 (80,164)$(7,723)
(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.
Accelerated Share Repurchases The impacts of these accelerated share repurchase transactions were as follows:
Execution DateSettlement DateAggregate Common Stock Repurchased (millions of dollars)Initial Shares Delivered (in thousands)Additional Shares Delivered at Settlement (in thousands) (a)Total Shares Delivered (in thousands)
Q3 2021Q4 2021$500 1,658 4032,062 
Q4 2021Q1 2022750 2,515 4622,977 
(a) Upon final settlement of each repurchase agreement and the forward sale contract, the Company’s receipt of additional shares was recorded as an increase to Common stock in treasury and an offsetting increase to Capital in excess of par value. The final settlement for the fourth quarter transaction amounted to $150 million.
Accumulated Other Comprehensive (Loss) Income
The components and changes of Accumulated other comprehensive income (loss) were as follows:
(Millions of dollars)TotalForeign
Currency
Translation
Benefit PlansCash Flow
Hedges
Balance at September 30, 2018$(1,909)$(1,162)$(729)$(17)
Other comprehensive loss before reclassifications, net of taxes(427)(93)(325)(9)
Amounts reclassified into income, net of
taxes
52 — 49 
Balance at September 30, 2019$(2,283)$(1,256)$(1,005)$(23)
Other comprehensive loss before reclassifications, net of taxes(338)(161)(101)(76)
Amounts reclassified into income, net of
taxes
74 — 66 
Balance at September 30, 2020$(2,548)$(1,416)$(1,040)$(91)
Other comprehensive income before reclassifications, net of taxes383 124 187 72 
Amounts reclassified into income, net of
taxes
77 — 68 
Balance at September 30, 2021$(2,088)$(1,292)$(784)$(10)
Other Comprehensive Income (Loss), Tax
The tax impacts for amounts recognized in other comprehensive income before reclassifications were as follows:
(Millions of dollars)202120202019
Benefit Plans
Income tax (provision) benefit for net gains (losses) recorded in other comprehensive income$(42)$30 $91